Stoic-Trader

Stoic-Trader

My primary wave count for KNC is very bullish. Today's price action supports this expectation... while most cryptocurrencies are having solid drops, KNC is looking for new 6-week highs. I have already added KNC to my portfolio and will add up if we break 2.50. If this scenario plays out, my long term targets are at $10.

Stoic-Trader

DOT´s chart is so symmetrical that it almost looks fake. The uptrend from July/21 can be divided in 3 almost identical parts with a strong resistance/support level between each one of them. We also have a small head and shoulders (H&S) pattern (blue) that was broken took us from one level to the next one. Now, we´re testing the neckline of a larger H&S pattern...

Stoic-Trader

In the short term, I´m considering that the move up from Jan 10th was impulsive, and we´re now in a RED A-B-C correction. I have two strategies to go long: 1. Wait for price to test 41k (100% Red A-B-C- extension), which gives me more confidence that the correction may be over, and then wait for a breakout of the blue correction channel. 2. If Blue 61.8%...

Stoic-Trader

We had a trendline breakout attempt to the downside, but bulls came right back to the game and kept price above support. I´m very bullish on Cardano. In the short term, expect a test of 1.85 resistance. A breakout from this level would open the way for a very strong upside, new ATHs. My long term target is $5... but let´s take it one step at a time.

Stoic-Trader

We continued dropping inside the channel indicated in my last post (see related idea). We went all the way down to 50% pullback at 440, which offered some support. The key 500 shown in gray was broken and is now serving as resistance. I am not a long term buyer unless the downtrend channel and 500 support are broken. 61.8% pullback at 386 is still a strong...

Stoic-Trader

The gray support at 40800 held for 4 consecutive days (orange circle), and bears decided to take a break. In my view, this is just part of a larger correction that will take us below 40k soon. My expectation is that the bounce will create short term correction to the upside. My targets for the correction are shown in the yellow rectangles: - 61.8% pullback at...

Stoic-Trader

After a very long run to the upside, NVDA seems to be out of gas, at least in the short term. In my primary count, we have reached a long term wave 5 (black), which could lead us to a long correction cycle. Nevertheless it´s still to early to tell, and I like to work with what´s in our hands right now: a falling wedge, which I believe could take us to the first...

Stoic-Trader

After a lot of choppiness, we had a breakout to the upside of the range. We have also broken the black downtrend channel. I have been positioned for a few days, and will add to my position if 1.14 support holds. My short term target is the 1.17 resistance. Expect intermediate resistance in the green level (~1.155).

Stoic-Trader

ETH has reached an important support level at 3k and had a very nice bounce. IMHO it´s too early to call a bottom. Considering the strength of the drop, it is natural that a big support would at least create a temporary pullback. I´m not taking trades at this moment and will be looking for reversal signals. A break of the very steep green trendline and a...

Stoic-Trader

Price continued falling inside the channel shown in the last post (see related idea), and the yellow bounce zone has been reached. I have 2 approaches to buying SOL: A. As as investor, this is a good place to begin buying, even we have some more downside. B. As a trader, we still don´t have solid reversal indications. Ideally we should wait for the channel...

Stoic-Trader

During most of December C98 made a downtrend wedge which I am considering to be an ending diagonal. When the wedge was broken, we had an impulsive wave and now we´re correcting that impulse. Therefore I am considering that in the short term we should have at least one more leg up, with targets shown on the chart. Depending on your risk profile, you can take a...

Stoic-Trader

The downtrend carried on as predicted (see related idea) and we´re now testing the lower limits of the channel once again. Another "channel touch circle" (purple) was added to the chart. I expect some sort of pullback (ideally above .84, at least 50% retracement), to start looking for new short opportunities in another leg down.

Stoic-Trader

The Fib Resistance mentioned in the last post held the upside (see related idea), and now we´re looking at 2 scenarios: Running Flat: We should stay above 112.5 Expanded Flat: We can go down to 111 Price action on the next few days may give us more clues on how far bears will take the price.

Stoic-Trader

In my wave count, we finished gray wave 3 at 106.29, and are now correcting the big impulse that began on May 2021. I´m looking at 2 scenarios: 1. We already made a 3-wave correction (blue ABC), and wave 4 is done. In this case we will begin looking for new highs and price discovery. 2. This move is only wave A of the correction (in purple) and we still have...

Stoic-Trader

The uptrend was blocked by the black trendline indicated in the last analysis (see related idea) The correction in unfolding as an A-B-C zigzag (in green), and conditions have already been met for it to finish (100% A-B extension). I´m looking for signs of bullish price action to begin riding the uptrend, such as a solid green daily candle.

Stoic-Trader

Entry: 14 TP1: 13.17 TP2: 12.25 TP3: 11 SL: 15 Expecting one more leg down in the downtrend movement.

Stoic-Trader

We´re still in normal correction territory for blue wave B (between 100% and 161.8% of green waves A-B). For now, I keep my previous analysis that we should see a pullback down to the 50´s. If blue wave B goes a little bit higher to the low 80´s, then a flat correction becomes a possibility. In this case blue wave C could be quite shorter. I´ll be watching the...

Stoic-Trader

We had a beautiful bounce from the trendline shown in my last post and rocketed up ~800 pips (see related ideas) My target is 160, but I am waiting for a pullback to get new entry opportunities. The yellow rectangle is the area where I´ll look for longs. We had some bearish price action yesterday, but it is still to early to tell if the pullback is underway...