Longshortman

Longshortman Updated 

I'm leaning more to the bullish side and want to keep myself honest. So here I am looking at the Bearish case for QQQ. Market may be switching bull, but this would be in the context of a major downtrend. A close above the weekly 21 EMA and the Major Downtrend Line would change things.

Longshortman Updated 

Keeping myself level headed as the market could be moving from neutral to bullish in the near to mid term and I have been in my bear cave since January...and its been working, but could stop working. I remain skeptical of a resumption of a long term bull market until the 55 EMA / 200 EMA death cross has been reversed, QQQ price closes above the weekly 21 EMA and...

Longshortman

Looking for a confirmed close below weekly support to indicate a return to the large range and potential to fill the gaps below. This thing has had a huge run up in the midst of a global bear market. Looks exhausted on my higher time frame momentum indicators. Initiated a short over the past couple of weeks, and admittedly before confirmation of a break of...

Longshortman Updated 

A monthly signal can take a while to play out and the RSI divergence is not yet confirmed, but its looking more likely with this recent move down. Be cautious.

Longshortman

Consolidating under resistance, but at the top of a descending channel. High time frame oscillators (12H-D) show momentum upward. Lower timeframes (1-3hr) neutral to bearish. Historical volatility set for a pop or drop (direction neutral, but suggest incoming move). Its a weekend so a big move is less likely, but not impossible.

Longshortman

While I don't think there will be a -50% Covid-19 style shock-and-awe dump of a lifetime on Sunday night,right before a US national holiday, I am pointing out that Bitcoin is in a very similar posture and a deep dive can't be ruled out. My account is hedged accordingly. When I'm not confident in what the market is doing I tend to just watch. Before the dump...

Longshortman Updated 

We sometimes get big counter-trend washout dump moves on the weekend that get bought back up during the week. These moves are bewildering at first, buy if you have been trading bitcoin for a while you will start to see these moves as an opportunity. Currently bitcoin is closer to breaking through the $12K resistance and out of the current consolidation than it is...

Longshortman Updated 

I'm leaning bullish here as it looks like Bitcoin is following a similar price movements to that of May 2020: The lower time frames signal bearish, but the higher time frames remain bullish. Looking to use the lower timeframe dumps to get a good long position. A 4H close below $11,000 and especially $10,900 and I would exit long and look to flip short. I'm...

Longshortman

See Chart.

Longshortman

I wouldn't try to use a pattern like this to make trading decisions, but it does provide some perspective when normal technical analysis is not clear on a direction. If anything this is telling me to be cautious with longs for the next few days. The momentum oscillators are are also signaling some near future downside, but price action has not confirmed. Right...

Longshortman

This is how I plan to trade this pattern in the next 24 hours, assuming Bitcoin stays bullish . This message will self destruct in t-minus less than 2 hours when the 3D closes. If the 3D close confirms the previous long leg doji candle stick by closing at or below $11,340, I will stop looking for longs and watch. If the 3D closes bullish then I look at this...

Longshortman

Longed 11440 this morning after the 12H and 4H close above the local resistance at $11,425. Got out at $11,680. Based on price action, slope of emas and momentum it looks like there will be a push up to $11.8k-12k. So, probably got out a bit too early here. I'm looking to get back in on a quick wick retest of $11,250-$11,450 or a clear break (4H close or...

Longshortman Updated 

I had a much longer and more thorough description but deleted it. Doh! Note to self. Type in Evernote or word doc first! Note the simlarities in the pattern. Not looking to short, but to get long at a better price.

Longshortman

Is it advisable to trade using Wyckoff models on a 15 min chart?...probably not...definitely not, but hey I went there. Enjoy.

Longshortman

Just having fun drawing lines. I'll point out a flaw in my own chart, which is the low volatility in phase B. That low volatility in Phase B is more indicative of re-accumulation than distribution. The re-accumulation may have already happened and now we have broken out and are trending. We shall see.