Rashad

Rashad

SPY potential pullback to about $213. Currently at 216.27, Looking for SL at $218.50 (-1.03%), TP at $213(1.511%). Drew two Fibonacci retracements. The first was draw from the relative maxima prior to the BREXIT, to the relative minima created by BREXIT. The second was drawn from the relative minima created by BREXIT to an assumed local maxima in the event of a...

Rashad

New rising support line catches price at ~$640 then ~$662 (near 50% retrace line). Although the first trend line I discovered failed to hold at ~$669, if the second rising support line holds, a break out above the 61.8% retrace at ~$685 is possible with a continuation to the 76.40% line at ~$722. My target is $680-$720 with a time frame of July 05, to July 09

Rashad

Bitcoin Breaks above $700 on ascending triangle. Short term resistance is at $720, if breaks a move back to the $760-$780 range is likely. -Watch Bitcoin on the weekend. Interesting things seem to happen on the weekend lately...

Rashad

DAO hacked: How low will we go? I am not making any targets on this, I am just looking for opinions.

Rashad

One of the stylized characteristics of volatility is known as Clustering: Large changes in price are followed by large changes in price, and small changes in price are followed by small changes in price. To me, it looks like over the last few weeks we have been in a pattern of low volatility clustering during the weekdays, and high volatility clustering on the...

Rashad

I recently read an article of Reuters explaining that the recent rise in $BTCUSD has the $CNYUSD sell off to thank. www.reuters.com But out of curiosity, I wonder what percentage of the $BTCUSD rally was caused by Chinese traders buying into Bitcoin. After all, most Chinese DON'T invest their money into the market. Perhaps the $BTCUSD rally is caused by traders...

Rashad

Before I even looked at this chart, I knew that Bitcoin had risen because $ETHUSD was trading at around ~$11 (Now ~$12). To me it looks that people are selling their Ethereum for Bitcoin, and when bitcoin pulls back people are selling their Bitcoin for Ethereum. It would not surprise me if we saw a nice spike in $ETHUSD if Bitcoin pulls back from this rise. From...

Rashad

Personally, I like what Ethereum has been doing. Decentralized apps have been making me very excited lately as I have begun to learn Solidarity. Anyway, a look at ETHUSD on a Log Scale shows very impressive growth over a short time frame, some may even call it a bubble in price. I would like to argue that since we are currently down ~50% from lifetime high's,...

Rashad

Those who follow me know my opinion for 2016 is not exactly bullish, but for the purposes of having fun trading, here is a short term set up. IF CHINA FINISHES UP OVERNIGHT AND TOMORROWS ECON REPORTS ARE GOOD. China, as of writing appears to be up over night. We finished today with a long legged doji. People will get greedy and buy on lows. Happy trading, cheers.

Rashad

An inverse correlation to the energy sector seems to proceed every market downturn. Additionally, does it not disturb anyone that American Economy has been doing relatively OK over the last 2 years while the global economy is stagnating? Resistance is being strongly tested at the 161.68% retrace from the 2008 low. My Thesis I believe low commodity prices will...

Rashad

I not saying this rally is over. Bitcoin could easily double due to exuberance, however momentum is currently reaching levels typically only seen during the most Epic Bitcoin Rallies. I went head and drew horizontal lines at each peak. RSI was 94 when Bitcoin was pushing 1000, it is currently 90. 500 will be a Major psychological resistance for this rally, and it...

Rashad

It would appear that the market has been holding its breath for too long. After a period of consolidation, the Aroon indicator has given early notice of a possible move upwards. All this comes before the rate rise on Tuesday. The market has been acting in fear partly due to uncertainty over the rate rise. I would like to speculate that with this rate rise, the...

Rashad

Here is some ideas where the selloff might bottom. Time will tell how much reaction there will be to the east Asia slowdown

Rashad

Today's fall is 4 standard deviations of a 65 period mean. The probability of that happening is well under 1%. Feel free to leave your input or where you think this is headed. The market is oversold, but I wonder whether or not dip buyers will take advantage right now.

Rashad

Beyond 2 exponential Standard deviations, and oversold. The current candle is a bullish spinning top. Based on this basic technical view it seems that sellers are finding a growing number of dip buyers. When Contagion from global markets move aside, this should make a nice rebound. But at the current time, I will not say to go long or short as fear is a powerful...

Rashad

The Shanghai index is still up over 11% since the beginning of 2015. It is still dramatically outperforming the s&p 500. Brokerages are taking on debt to buy stocks. Although the selling may continue, it can not be denied that the current valuations may represent a fantastic long term opportunity. But I wouldn't touch it until it appears that the turmoil is over.

Rashad

In the short term, it would appear that a descending triangle has formed as SYNA tests the support line. This downward movement is more or less being caused by a sell off in equities triggered by Greece. A break below support may carry SYNA to 78. However SYNA is near 2 STDEV's and has remained oversold now for a while. A correction may be possible. For the long...

Rashad

*PLEASE READ MY ENTIRE DESCRIPTION. THIS IS VERY COMPREHENSIVE. For the last few months I have been incredibly bored with Bitcoin, and almost completely lost faith in it. Bitcoin meet ups have been desperately underpopulated and only popular to old crowds. I myself am a frequent of Bitcoin Center NYC. What strikes me peculiar is the fact that the best...