GBP/JPY looks like it's going to bust up here pretty soon. We can place a buy stop above this area to take advantage of a move to the upside, targetting just under 144. Make sure you adjust your risk accordingly as gbp/jpy is very volatile. Happy Trading, -Sherem
Check out my last analysis. I said I would be laddering positions down to this 275-300 ETH area. My point C target on my chart wasn't perfect, but it was pretty dang close. You're Welcome. Current Conditions: On the Daily: RSI is confirming the bottom. MACD is almost ready to cross On the 6 Hour: Broken Trendline Strong RSI Strong MACD Don't sell to soon,...
This is a trade I wish I posted right when I entered, but I was a little nervous being early with my last usd/chf trade, lol!. I went long at .72263 targetting .7330-.7340 area. You could ladder down near these lows, try to enter in a small retrace. Looks like its going to continue to push up for the time being and I will be moving my stop to break even soon. RSI...
If you notice on BTC, the channels are shifting. Before, we had more of a downward channel marked by the purple lines and with this recent push up the channel is shifting upwards. If we go to the recent past we can see a similar shift in action in a smaller channel and over a longer period of time and on shorter time frames. The difference this time is it's doing...
Before you panic sell your ETH. Keep in mind we are reaching a MASSIVE support zone in ETH/BTC. RSI is so OVERSOLD it makes my head hurt. After this level we go to an insane support level that held in 2016. No reason besides people panic selling their ETH that it should be going down with this much velocity. Happy trading, -Sherem
Welcome to Sherem's short term day trading. I might turn this into a daily tracking, tracking my account. We'll see how the first couple go. For this trade, I am going short. If it moves in my favor by 10-15 pips, stop gets moved to break even and I will let it run. Here we go! Happy Trading, -Sherem
In the wake of worthless news driving down the market, it's important to reflect on your plans, your trading and what you are doing. if you follow me you know that I ladder my positions. That's how I manage my risk. I have ladders going down from here to this 275-300 area on ETH. That's how I trade. You can see here that we have an immense amount of support...
We have broken this down trendline and looks to be setting up for a potential set of 2 inverse head and shoulders patterns if we crack 6.5k. Trade would be to buy the break. Happy Trading, -Sherem
I want to start by looking at this log scale chart of BTC going back to 2013. The green identifies each year around this time and we can see what happens in August. Every year in August we have gotten a bull run shortly thereafter except in 2014. I want to analyze the dynamics of what happened in 2013 vs what is happening now. Clearly the similarities between...
For those of you who are bullish on BTC, this might be a good time to get in. We are hitting this massive support zone. Testing this trendline. RSI is oversold and MACD could cross anytime to ratify it. On the daily chart, RSI is almost in oversold territory which would indicate that further downside will be limited. Happy Trading, -Sherem
Which chart do we reference? Do we reference the one on the left showing us the log scale, or the one on the right using non-log scale? We get 2 different scenarios with each chart. Let me make the case for each. Log scale: Bearish We have BTC crossing this trendline, then coming back out. (I have seen other chart where you force the trendline up above, but...
If you are new to reading my posts, please understand 2 things that I do: 1. I am good at looking at longer cycles, shorter-term movements are a pain for me. 2. I ladder most all of positions to some degree. I am going to be buying up ETH and holding for the next few months. With ladders from here (my first entries were around 455) down to $300. We know that if...
Zoomed in chart of ETH/BTC, check out that Divergence on the 6 hour. We are also at a daily support point that should provide for a move up. I am long ETH/USD to take advantage of the ETH movement. -Sherem
RSI is showing signs of divergence on the 6 hour. Weekly MACD does look strong, however we are over extended on EUR/GBP and we should get some movement back to the moving average. Nice risk to reward. Caution, with the turmoil going on in Britain, we could see continued movement to the upside.
BTC has broken this massive wedge to the upside. The next viable target is 10k at this point. We should have some resistance at 9k, but I imagine that it will chop right through it. At the moment BTC is coming down to this buy area for a continuation move. That purple line I drew right around 7.8k, that would be your support point that should hold for a move...
LTC should also play out for a move up if ETH starts moving, LTC/BTC is also getting low and should follow BTC once things flip. I imagine will get a good enough move to at least put a stop loss at break even. -Sherem
While BTC is going insane and going up, I do feel comfortable with this ETH trade, we are at these lows and with BTC getting high and ETH/BTC low, it makes sense that we would see an uptick in ETH/USD when the flow switches on ETH/BTC and we should start bottoming now that BTC is spiking, at least I would imagine so. Previous update for a little more detail -
ETH has been channeling from roughly 400 to 500 in this ascending type pattern. I think the charts are pretty self-explanatory and you can see the channel it's formed and trendline fans its bounced between. Since we haven't had a significant move to the upside after breaking the main orange trendline or the alternative red one. It raises more questions than...