UJ is looking like it is ready to go down and digest these monstrous gains. Expecting us to sell down to around 103 where a fib exists that has provided two other long entries . This move lower will provide fuel for a larger move to the upside. Market Profile that is providing this bearish scenario: i.imgur.com Market is sitting at upper edge of value with the...
Bitcoin is slowly making higher highs on the 15 min and could lead us to 1200 or higher.
Higher time frame buy area reached with this second leg down
Larger timeframe buyer should enter around 932 area. Looks for signs of accumulation on the smaller timeframe to confirm this. My boxes did not show up. See screenshot -
Market bouncing for the the third time off this fib anchor.
MArket is rolling over a bit and may provide a nice entry at the next high to high entry.
So I already explained I think Bitcoin goes higher here - I also mentioned Bitcoin goes parabolic. So I decided to make my parabolic projection and say Bitcoin goes to 2700-3100 area by Spring.
Fibs provided a great entry at 976. Buyers are getting agressive. Threw out some agressive long targets using fibs and harmoncs. Lets see what happens.
So plan A from a previous post () is getting participation. I still think a rise to 9050 (Plan B - ) is a serious possibility. There are a couple of potential buy zones that could cause the current selling to dry up and have buyers take us higher into the 9050 area. The most significant and most likely in my book is the middle buy zone which coincidentally has...
UJ failed to defend the 61.8% support level. But it was only wicks. Since the overall daily trend and macro picture is up I would be cautious about the potential short idea. But on the other hand market seems to be indicating 'risk off' for the new year possibly because of POMO reduction of 10 billion. Risk off would be dangerous for the the crowded carry trade...
Bitcoin retraced just over 50% of its gains from the post cyprus crash lows. Huge volume at the support zone from 50%-61.8% (645-505) indicating huge accumulation. Those buyers are not going to be easily shaken out. I am expecting price to rise to at least 1500-1700 area which are fib area's, but bitcoin has a way of going parabolic and we are just one crisis...
Bought some spy puts here. Market was chopping at a daily profit target from the most recent highs to lows extension. Yesterday broke the 15 min ext support the was holding the market at the daily profit area. Will exit half right above 181 and see how market behaves at the 181 level which has structure support and is the 50% retrace of the daily swing that...
Got long based on price action on the 1 minute. So far the uptrend on the 4 hour and daily is still in tact. Let's see how far this goes.
Expecting the market to head a little lower to a extension that has traded two other times. Second time was quite sloppy. Will look for signs of accumulation at 104.38 area. Currently short going into that area.
Expecting Plan B but bears might get aggressive and sell at plan A. I like Plan B a lot. Large pullback to suck in the double bottom longs and frustrate over aggressive bears. Market gets to have a threesome and fuck both sides. Larger targets are way down at 8400 level. Update: 1/4/2014 Plan A is already getting some participation. Not sure if it will go all...
The anchor at the FOMC highs has provided a second entry and has targets at 105.65. Will look for a pullback to buy on the 15 minute. I will continue to look for long entries on UJ as the larger weekly target is way up at 108 area.
If Euro continues to hold the current area above 3726 we could head to 3958 or higher. If Euro pushes lower we should see a bounce at 3670 area which would be the third entry from the anchor at the 3440 lows and should lead us to at least 3400
YUM confirmed its targets above at 82 by breaking its short setup. Will have shorter term targets along the way like the 77.50 area.