I closed my recent short position and am now long the market. We will probably consolidate here and who knows, another drop may be in the cards. However, I think there is a strong historical precedent in place for this to be a higher low just halfway down the wick of that weekly candle. This lines up with a lot of Fibonacci retracement zones and congestion zones...
I think STRAT is a great hold for 2018 as enterprise technologies are going to explode. If not in Q1 then certainly by the end of the year. I have been looking at STRAT on multiple time frames. (Edited. Apologies, I didn't set my global Fib correctly and we're looking at both the 3D and 2D timeframes here) Here we see that right through the BTC correction it...
I don't usually make these for very short-term plays but I'm so annoyed at not having any freed capital that I had to say something. XMR looks oversold on multiple time frames. Enjoy :/ Could happen any minute, this is one of those large position size sort of scalp trades, but you can leave some on the table for any bigger run-ups.
Anyone who considered playing the bounce may have done alright, it overstretched my resistance areas quite far. The 10500 range is also a strong resistance area, as you can see. I would be careful here if you are still bullish on the bounce. The RSI is still oversold on the 4H but on the 1H and 15min it is overbought. Let's go ahead and zoom in on the...
A friend brought VEN-BTC to my attention, tradable on Binance. I'm impressed with how little the correction held sway on it. Notice how oversold it is despite holding onto very strong bullish direction. I see a flag formation and this is a blue sky bull trend, so I'll look for the volume to constrict as well as the price to obey the triangle, and then a...
**Edit** I revised this as I think this is not quite a cup and handle as previously mentioned. Exactly what it is, I'm not sure. I'll comment on it later. I see a lot of vets discussing this one so I wanted to throw in my 2 cents. I've drawn some blue lines to indicate where I think minor resistance areas are. The three of them hold about equal weight in...
I see bearish divergence across the board, in both alts and BTC. I'm halting any active trading and holding any positions I'm in until the trend plays out.
We've had multiple inside bars on the hourly after a big break to the upside, look for a bull break of the first inside bar range for continuation. Also look for bullish volume to accompany such a move for confirmation.
Looks good on the 4H and Daily, too. I think they will catch up with the hourly. Volume incoming.
I'm overall long on BTC, and I think while it may make a thin wicked candle further down, it's far more likely that it's about to bounce quite nicely, consolidate, and head up the channel again. Look out on the alts, consider your stops and where to take profit.
That is a strong congestion zone and it's tested it three times, twice after breaking from the triangle. Let's see what happens.
Often these breakouts are a little too soon and need to retest the top of the flag (it already sort of has) before a moonshot. It's a good bullish signal but I think I'd hold back some of my position to see what happens first.
I think this is strong bullishness for Enigma.
Keep an eye on the formation of higher highs and higher lows. TD sequential looks good for a bullish reversal back to where it was earlier. I'm seeing a lot of accumulation and the lower cap on this alt causes sudden volatility. This one has some woowoo in it ;)
I suspect that DBG will retrace first to the 0.786 or even the 0.618 fib level, similar to how it did before. Then it will blast on to new ATH. I'm looking for inside bars and bullish flag patterns now.
I'm in the middle of a job so I can't describe atm, but it was a breakout!
We can see quite a pop on ENG here soon, and it would be an A.T.H blue sky breakout. Not much holding it back from a moonshot.
We can see that it's approaching the edge of the cloud on the hourly and it's low near the bottom edge in the green cloud on the 4h chart. Plus the cloud is beginning to contract on the daily. I will draw some lines so that you see where the next areas of congestion will be. In truth it will have some difficulty going forward and I think it will consolidate for a...