LauraRuffleyRae

LauraRuffleyRae Updated 

Looking at the monthly we can see the context of where we are. The funds we have we committed here to crypto are committed and we need to stop fearing losing them. The monthly is very bullish. We have recent achieved 9 month highs, we are above the 50 month moving average and last month recaptured the 34 month MA. The weekly... Price is very strong on the...

LauraRuffleyRae

The current price action as of 12th June 2022 is probably spooking people quite a bit. It should be becoming clear to even the most ardent bull, that we are in firmly a bear market. There could be calls for a bounce here, but the wider macro environment is seeing liquidity being sucked out of the economy so institutions are not looking for risk-on assets right...

LauraRuffleyRae

Not financial advice. Strong looking chart for Solana, on technicals. The caveat first. Crypto is correlated to the tech sector as a whole and if we do get a bear market in equities, then the expectation is that the Altcoins will generally sell off. The fed is becoming more hawkish in its language and it's not likely that language will stop any time soon. But...

LauraRuffleyRae Updated 

I like this chart and am considering a long. We've seem to be forming an ascending triangle, have a rising daily 200, 50 and 20MA, as well as a rising 8 and 34 EMA and price is above them all. It's difficult to say that a breakout is imminent, but we're certainly in an uptrend. There's a few different ways to play this. [/img} Strategy 1; Enter now, at this...

LauraRuffleyRae Updated 

First of all, this is in Australian dollars, not US. (Multiply by AUDUSD, or Divide by USDAUD to get the equivalent USD corresponding values) There's a lot more of this cycle, but the next 3-6 months are going to be interesting whatever happens. One scenario I wonder if it may play out, is Ethereum hitting it second Fibonacci extension from the top of the...

LauraRuffleyRae Updated 

Oh, look, I know it's childish but Ethereum looks to me like it has put in a nice double bottom here on the daily chart. I'd say also that you can see an ABC correction here. The candle on 5th September shows a lot of volume buying up at this level of support and a teeny bit higher than average volume over the last couple of days. I like the KISS principle...

LauraRuffleyRae

I reckon it looks likely we'll have an alt season, mini or otherwise. Look at The total market cap (consolidating) , and the total market cap minus bitcoin (looks bullish and is holding it's 8 daily EMA) BTC USD price is being defended, and ETHBTC is bullish. Capital has to flow from somewhere, to somewhere else.

LauraRuffleyRae

It's possible. I don't know whether we have had the correction that most people were expecting yet, with BTCUSD extended way over it's Daily 8EMA. A head and shoulders might be forming here. I'm not shorting thought, we're still in a bull market. Either buy the dip or buy the breakout, but shorting risks geting REKT.

LauraRuffleyRae

Trading at extreme sentiment and when we are overbought feels risky and can lead to withdrawing profits early. It can be frustrating when you see other traders post on social media with magic floating targets in the sky without any description of how they got there. When you're new to trading, it is really difficult to know which strategy or approach to use....

LauraRuffleyRae

Elliot waves can be useful but they are subjective and not everyone agrees on the rules. Wave 5 in mine here is longer than wave 3. Some people don't like that, but to others this is acceptable. To me, we are starting a correction which will coincide with the uncertainty running up to the general election in the US. I think a full 'W' is unlikely and the...

LauraRuffleyRae Updated 

Very clearly Gold was overbought recently with the FOMO narrative that the Dollar is going to the Dogs and the DXY at extreme lows. Investors panic bought Gold and as such we've seen it rise a long way from it's average and reversion to the mean is likely. We're not at an area of value yet and it might take us a short time to get here, but support it a little...

LauraRuffleyRae

For me, I know there is lots of room overhead, but time to take some profits off the table. There's a bearish divergence ont he four hourly, which is great, because bulls need to cacth their breath. It has been trending nicely, but it's time to look for an area of value for me, or, try to catch a momentum trade IF it does break out (and accept that it might fakeout)

LauraRuffleyRae

Stellar is looking Bullish to me at the moment. The 61.8% retrace held on the recent swing, and is confluent with the 20 period 4 hour moving average. RSI is still above 50. It appears to have broken out with higher highs on the daily charts. This coupled with the news of collaboration with Samsung, we could see the emergence of an uptrend here. This one is on...

LauraRuffleyRae Updated 

Using a weekly Commitment of Traders report on Forex, you might consider using it as a contrarian indicator. The theory is, of course, that if everyone is net long, where do the new buyers come from. Here we can see the CME futures contracts for bitcoin. You can access the raw data via www.cftc.gov and then Find> 'Bitcoin' on your browser window. It is updates...

LauraRuffleyRae Updated 

Ethereum looks like it may have a chance to breakout here. We've had a couple of fakeouts at this level before. It's at the top of a very long down channel and the daily has closed above it, but it could still fake out. Be careful with looking at moving averages at the moment. Yes, they all have their nose pointing to the sky, but Eth has been ranging for many...

LauraRuffleyRae

Here is the weekly chart on Gold. Clearly we are in the ascending phase of the market. There's talk of price of Gold going to $5,000. That doesn't really seem likely to me at the moment (well, not in the medium term). Not least because on the recent stock market crash, Gold fell also (along with Bitcoin) so there is some correlation there. This suggests...

LauraRuffleyRae

Above are 3 line area charts superimposed, of the S&P 500, BTCUSD and ETHUSD. There has been a lot of discussion about correlation generally with some parties stating that these markets are correlated and others stating that they are not. It probably doesn't matter and how useful that information is to you. It depends on what you are planning on doing and...

LauraRuffleyRae

AUD has been performing well against most currencies for a while and the AUDCAD has tested the 20MA twice, and now today, the 20MA has (or is about to) close above it, showing that suggesting buyers are stepping in and seeing the 20MA (0.9299) as an area of value. For those who like to trade chart patterns, it looks like there is a bull flag as well. Long setup...