TerryKinder

TerryKinder

This is a pretty simple model based on a Gann Square and concentric circles and squares. Price over time tends to move up or down 2 circles, or energy levels, before moving in the opposite direction. Since price made a low near the point marked 0, we should expect that the oil price will generally move higher until the circle marked 2. The parabola drawn was...

TerryKinder

This chart is based on Alan Andrews' Action-Reaction Principle. Price will tend to react up or down on the black diagonal lines. Also significant are the patterns. Notice how the bull market that peaked in 1980 looks very similar to the gold bull market that peaked in 2011. Given where the gold market is in the cycle - with a right shoulder formed - the market...

TerryKinder

This chart uses the Fib Spiral. The spiral is anchored at the 1976 pivot low of $101.00 for gold. In actuality, there are multiple Fib Spirals which appear on the chart. For me, the areas of particular interest are where the 5 red arrows are pointing. Four of those arrows point to times beginning in August of 2013 where the price could not break out above the...

TerryKinder

I wrote previously about the possibility of WTI Crude Oil being at or near the low. Since writing the original WTI hit $43.58 and has bounced to just shy of $49.00. This chart is a fib spiral anchored to the $10.49 low of late 1998. This chart actually has a series of fib spirals drawn on it and all are anchored to the late 1998 low. As you can see by the black...

TerryKinder

Oil on this Pitchfan chart has broken support, but we'll probably have a clear idea at the end of the trading day tomorrow. Right now just the candle wick is below the support line. If this month, or next month, most of the candle body itself fell below support, that would flash a warning that, perhaps, a bigger price decline was coming. This level has been...

TerryKinder

Bitcoin is nearing a critical juncture as can be seen on the chart. Price is currently in a descending channel (yellow and pink shaded area). Price broke through Pitchfan support around $500.00 back in September 2014. Next support is near $185.00 and rises to around $245.00 by October of this year. The Bitcoin price needs to break above the descending channel...

TerryKinder

GLD has become overbought as shown by the Hurst Bands. Price could possibly exceed the overbought Hurst Band (pink colored band). The Starc - (minus) Band has crossed over the middle (light bluw) line of the Hurst Bands. This is typical when price action begins to become extreme. It does not mean that the extreme price action cannot or will not continue for a...

TerryKinder

I was encouraged to look at shorter time frames - including the 4-hour - to see trends in the Bitcoin. It is a good practice and I generally do look at time frames down to about the 30-minute. As you can see by looking at the 4-hour Keltner Channels the top of the channels is around $506.45, so you may not want to get too excited by the recent price movement...

TerryKinder

Bitcoin, on a weekly basis, looking weak, but still has room to fall. MACD, Premier Stochastic Oscillator, Vervoort Smoothed Oscillator, KDJ, and Ehlers Smoothed Stochastic & RSI with Roofing Filters all are bearish. I am especially watch KDJ as its strong movement down makes it look like Bitcoin price could make another run at $340 or below. None of these...

TerryKinder

Bitcoin price has fallen through all the triangles drawn on this chart - including the big green symmetrical triangle based on the $339.79 low. Bitcoin price failed to reach escape velocity after breaking out of Andrews' Pitchfork and could never break above descending blue price trigger line. At this point, there is the possibility that price falls back into the...

TerryKinder

Bitcoin continues its technical breakdown. On the 1-day chart the 50-day EMA has crossed below the 100-day EMA. You'll also notice Bitcoin price has dropped far below the 200-day EMA as well. In addition, Bitcoin has fallen below the Keltner Channels, which is something I had mentioned as a possibility in the past. On Balance Volume (OBV) is at an extremely low...

TerryKinder

There isn't much to say here except, as the weekly Bitcoin price moves toward the bottom of the weekly Keltner Channels, the price looks poised to move under $500

TerryKinder

There has been quite a bit of discussion about Bitcoin and the direction of price. Based on the weekly chart it should become apparent that until the weekly indicators turn up, Bitcoin will have difficult gaining any price altitude. In addition, Bitcoin has fallen out of the price channel formed back in April based on the pivot low of $339.79. The only...

TerryKinder

Was recently looking at the chart, "WHEN WILL WE BREAK 700?" by ItisCalvin and decided to make a few slight modifications based on a technique called the 50% Pitchfork as outlined by Patrick Mikula in his book, "The Best Trendline Methods of Alan Andrews and Five New Trendline Techniques. I did this modification for a couple of reasons. 1) While using a...

TerryKinder

While it is well and good to create charts, monitor indicators and attempt to discern the direction of the Bitcoin price, it is easy to get buried in complexity and blinded by bias. That is why the On Balance Volume (OBV) is so valuable. You can read more about it by following the link below: www.investopedia.com Essentially OBV allows you to eliminate a lot of...

TerryKinder

At this point the Bitcoin price has made a decent recovery from past couple of days where price dropped to the mid-$550's. However, looking at the chart the Bitcoin price and volume trends from June are still down. While the price in relation to the Keltner Channels and moving averages did not behave as I thought, I believe they will still exert influence on the...

TerryKinder

Bitcoin is in process of moving lower. You can see this pretty clearly and simply by looking at the 50 Day SMA, 100 Day SMA and Keltner Channels. Essentially this is an action-reaction process. Looking at the March-April time period the Bitcoin price fell below the Keltner Channels (most or all of one candle body) for 17 days. During May and June the Bitcoin...

TerryKinder

(See first part here: ) The third triangle is the black symmetrical triangle. It bears some resemblance to the blue triangle in that price spent quite a bit of time looking as if it might make a run at resistance, but instead falling back toward support. The next element is the Andrews' Pitchfork. Although price broke through the upper parallel line, it has...