MrDiamondHands

MrDiamondHands Updated 

This chart shows price at the absolute top of the downward regression channel that has been formed since September 24, 2018. The November 7, 2018 trading session gave us a clean shooting star candlestick (indicated in neon green text), followed by a bearish confirmation candle on November 8, 2018. After retracing back up to these 1.14 levels that were just sold...

MrDiamondHands Updated 

See description for the chart I just posted. Take profit at bottom arrow, whenever it is hit in the profit zone. Should result in between a 3:1 to 4:1 risk/reward, depending on how quickly it falls back to the bottom of the regression channel.

MrDiamondHands Updated 

This symmetrical triangle pattern has a take profit of $120. Breakout occurred when price converged and then descended from the $205 area. Take profit is calculated by using the height of the triangle. So $255 - $170 = $85. Breakout from $205 means $205 - $85 = $120. Aside from the above, Ethereum just broke through the 2018 low of $167. It is in no-man's land...

MrDiamondHands Updated 

Take profit is around 2475 in the long term.

MrDiamondHands Updated 

Light profit taking is providing us with a great setup for another short heading into next week.

MrDiamondHands Updated 

Fibonacci High on September 26, 2018: 1.17980 Fibonacci Low on October 9, 2018: 1.14322 Fibonacci 150% Extension Price Target: 1.12493 See previous H&S chart for that level identified. Price may fight to pass through the previous all-time low, identified in orange with gray box, but should still clear through it.

MrDiamondHands Updated 

Noticed a head and shoulders pattern on Goldman Sachs stock. Might see it rebound and test of the green line at $230 price level, but this pattern indicates to stay on the sell side. Keeping an eye on Fibonacci retracement levels too.

MrDiamondHands Updated 

Big H&S on weekly chart.

MrDiamondHands Updated 

Need price to hit 1.185 before this pattern is confirmed, but definitely something to keep an eye on. Friday's close and hold of the 1.150 support would be the top of the right shoulder. With Friday's session holding support at 1.150, combined with weak DXY (USD index) movement, I was forced to back out most of my other AUD/USD short for a slight gain which is...

MrDiamondHands Updated 

50% retracement in this downtrend, based on the current month's high and low to establish the trend. Looking to short around now and set take profit level of 0.69670. You'll notice my fib retracement is reversed to show extension levels, so the 61.8% retracement is at 0.71638. A clean break above that level would stop out this trade for me and I would reconsider a...

MrDiamondHands Updated 

My prior chart posted just a few minutes ago showed that the price has already broken out below the neckline. The slope of that line is aggressive and missed the September 25 8:00 point as the second point forming the neckline, so to be absolutely certain we should include this point and establish a more correct neckline slope. Still, the head and shoulders...

MrDiamondHands Updated 

This is a slight correction to my prior post showing this chart as a pennant. Recent price movement pushed the upper resistance line into a full flag, but price movement and behavior should be the same regardless. Now that price has broken out below the support line (happened around $225), short position should be entered with take profit $110. This price target...

MrDiamondHands Updated 

Head and shoulders pattern formation fully complete on ETH/USD 4h. Restest of the $220 price level has failed and should result in future bearish movement. Take profit level is the height of the head reduced from the breakout off the neckline, stop loss is set at the top of the right shoulder. Take profit = $170 Stop loss = $240

MrDiamondHands

Hey guys, curious if there are ways to adjust the MACD indicator inputs to avoid some false signals. This mainly is happening during MACD line and MACD signal line crossovers, which I circled in yellow. If these are unavoidable, what other indicators are you using in tandem with MACD to avoid these loss situations?

MrDiamondHands

Opted for a more reactive BB setting of (10, 1.9) to track the next breakout on the ETH/USD daily chart. The upper and lower bands continue to narrow as low volatility and lack of direction continue. A close above the upper band will confirm a bullish rally, a close below the lower band will confirm a bearish sell-off. These bands are a great tool to understand...