FerroIgnique

FerroIgnique Updated 

First, let me being this post by Dumping on XRP. What a piece of Garbage. This hot mess has lead the way with a death-cross. Press S to spit. But, among the ruins we see Simbelmÿne beginning to sprout from the graves of the fallen bulls, giving hope and purpose to the next generation. We have a bold, Hekin Ashi candle forming on the day. Not Idly does it change...

FerroIgnique Updated 

Pretty simple TA. We're in a rising wedge in purple to the far right, topline in light blue is touches the bodies on the 4h,, the purple line on top is the price action in its entirety. My represent forcast is for this to break down in 2-10 hours, filling up the wedge we're in right now. If the spill is particularly violent, as its been recently we may sub 60. My...

FerroIgnique

Well Gents and Ladies, XRP has death-crossed. Its the harbinger of doom to come in ETH and BTC. Last summer, 2019, I was expecting for Bitcoin's moving averages to braid, just like the picture below. The result of which was that I shorted every red candle and the levered stop losses chewed up all the gains I would have made. I was correct that the MAs were going...

FerroIgnique

I'm seeing bull market confirmation. We have the pump leading into the golden cross, the Stoch RSI taking a real hit along with the price, BUT very importantly the 50 day holding. I really like the way the Heikin Ashi candles are nestling inside the prior days candle. My expectation is that the candles will turn green in a day or two and then stay green for quite...

FerroIgnique

Trading view made me scale up the 5min chart, but there's a H&S at the top and an iH&S at the bottom. Its like an Uno Reversal Card has been played.

FerroIgnique Updated 

ETH had a major retrace from its recent highs, hitting 288 before retracing. No take profits at 290 got hit so now I'm managing my risk and to be honest one of the reasons I'm pulling for bull is because I'd lose some money otherwise; I took profit on all my longs that were in the money from 250 upward and i have some longs underwater in the 270's and 280s. ...

FerroIgnique

It appears the pain is largely over. Buying pressure is pushing price up, with long landing wicks. The current daily candle is has been tacking red and green, but given that we didn't set a lower low I'd forecast that the next couple of days may range, but not break below 240. I judge the bullishness/bearishness of price action by using the Stoch RSI to set...

FerroIgnique

For most periods of time, Bitcoin has been the best coin to trade. Kraken offers leverage x5 on XBT, ETH, XRP and ETHXBT. For the vast majority weeks the coins move in tandem. For a couple of weeks in late '17, early '18 the BTC pairs moved in opposite directions. This post isn't going to be about trading ETHBTC, but rather, using ETHBTC to see if I should start...

FerroIgnique

I saw a Fidelity Investment presentation where they told about the time they wanted to find out who all their best investors were. In the end they found out they were all dead. Dead people don't make bad decisions and the living make more bad decisions than good. So, I've come up with a checklist to make sure I'm making the best probability trades. 1. Don't trade...

FerroIgnique

I've seen post and comments in the chat calling the formation we have below a cup and handle, but I see a iH&S retracing bullishly as a falling wedge as we hit our expected target, with an over-performing wick. If we hold this structure I think a bull market has another conformation. We'd really need to see the price action break the 200 SMA and a golden cross to...

FerroIgnique

The Longs Must be Mad! I will be confounded if the price action doesn't collapse very soon, but as they say 'the market can be irrational longer than you can be liquid'. The number/volume of people going long here should have had dramatic upward pressure on the price, which shows to me how bearish the market must be. The linked post highlights my thoughts, but if...

FerroIgnique

As can clearly be seen, just because my prior post was an S-Post, doesn't mean it was wrong. The iH&S dramatically under-performed, measured move in Fuchsia set target to $8200. The H&S target we see in blue will mightily over-perform, likely to the skyblue line below. For greater context, please view my macro picture; lateral lines were where we rested/reversed...

FerroIgnique

XRP is on the verge of a weekly Death cross. Its dying like a dog. Who knows, maybe there is another pump in its future, but it looks absolutely terrible. I maybe enticed to trade XRP, but by God i'll never invest in it. Even Bitcoin has never death-crossed on the weekly.https://www.tradingview.com/x/6QRwruJ2/. Its gotten close. And while the cross isn't...

FerroIgnique

An UNO reversal is when the trend changes with a pattern and then the inverse of that pattern forms another trend reversal; think Bart to iBart, or BARR to iBARR. Here we have an iH&S in green that is flipping into a H&S in Red. UNOs are extremely difficult to trade because the primary trend formation will over perform, while the counter trend will...

FerroIgnique Updated 

Hope Springs Eternal: Longs outnumbered Shorts for the first 9 months of Bear Market. The bottom arrives in Dec and traders don't believe it so Shorts actually shoot above Longs. Bull Market Begins March/April and Traders refuse to believe it again, so they pile in Short. 5 Months after our local high, Longs still outnumber Shorts. My plan is to short all the...

FerroIgnique

Target 1 assumes that we bounce of the 50 Monthy SMA as we have done every time we start stacking consecutive red monthly Heikin Ashi candles with the Stoch RSI maxed out. Maybe we make contact, maybe we stab through. Who Knows? Target 2 Assumes a zipper ABC Correction, Target Approx 3200 Target 3 Assumes were going to be above Stage 3 of a 12345ABC correction,...

FerroIgnique Updated 

There is a minority probably that XRP may have bottomed out and may begin some significant appreciation, uncoupling (for a time) from BTC. To wit, we are maintaining the 50 SMA on the daily with a spike down deep through it, but the full body closing above it. Very important also is it appears that we are setting a higher high with the Stoch RSI cycle. From...

FerroIgnique Updated 

We’ve crossed and are potentially finding support on the 50. This is the big test.