The more I trade the more I try and see what time frame should be controlling based on the stage of the move and what energy level I have to keep up on the trade. Right now with us deep in the symmetrical triangle and this being our third contact the 3 day seems like a good place to be for what we see on the indicators. BTCUSD's rally to 13,875 in June put us...
This is a very busy hybrid chart but I hope to break it down so you can see what I see. In short, a bearish situation in several volume indicators is going to cause a cascade as one causes another to trigger and we get all kinds of bearish synergies. I have found that you can use the ichi-cloud and the volume profile very well together. They both have a lot...
Just a reminder on divergences: Normal Divergence (Trend Reversal) Bearish: Higher highs on price action but lower highs on the indicator Bullish: Lower lows on price action but higher lows on the indicator Hidden (Trend Continuation) Bearish: Lower high on the price action and higher highs on the indicator Bullish: Higher low on the price action and a...
I have the bitcoin chart on the left and the ethereum chart on the right. Bitcoin is primed to go through one of the core but often missed patterns in trading. The lead in line in black was support for months and some clear bounces are shown with the black arrows. The line is slipped as support in dramatic fashion at the blue arrow and asserted as resistance at...
There are plenty of people calling for all time high soon and right now I don't see it. The double bollinger band system is a pretty simple way of seeing how much more movement is possible based off standard deviations. the inner band contains some 95% of all price action and the outer band contains 99.7% of all price action, which is why we normally see lots of...
I have fiddled with the time frame settings to get one that will show the big move incoming without getting us to far ahead or behind the action to give us a clear view. So far that is the 3D interweek chart and the OBV EMAS have been used to focus on the two main things that I am focusing on to be a good trader, price action and volume action. The addition of...
We are looking at two patterns here, blue and orange. The blue pattern has already completed and set up our orange pattern. I see this forming the potential 1-2 waves of a 5 wave Elliot pattern, which means we are on the verge of perhaps a 5 year bull market. In commodities wave 5 is typically the longest and we might see that in crypto. If this is wave 3 then...
The title and a basic moving average strategy covers most of what we need to understand. I have taken out osome of the intermediate longer term moving averages (the 200, 300, 400) to focus on what I think are the higher probability scenarios. I clearly think silver is in a descending triangle. If the 100 EMA holds as support and we travel sideways out of the...
TLDR: Lots of TA pointing to the downside here, with the least bearish scenario getting us to about $1,400. Most bearish is a multi year move to $1,000 Just under two weeks ago I saw Gold Futures paint the highest three day volume of all time on COMEX with a red candle, and a few days after that I saw that it had also painted the highest weekly volume with...
I started looking at the volume and getting worried about gold and silvers upside potential before Christmas and a few days ago I did a post where I looked at Gold's volume on the 3d chart. Things have gotten more bearish as the high volume continues on the weekly time frame. I suppose I will do a monthly chart here in the next couple of weeks. Quick review:...
TLDR: This isn't a move or a tradingview idea for short term day traders. Last time gold was under the value area that condition lasted 6 years before a decade long parabolic move began. I think that we will be, relatively shortly, beneath the lower value area and accumulation will be broadly between $650 and $1,000. Main Idea Trend lines and horizontal...
I have been worried about this uptrend for a while and now I have a nice intra-week candle close to look at. The three day candle conculuded on COMEX and traders painted the highest 3 day volume on Gold of all time and the candle appears to be showing a strong reversal at 1600. The volume suggest to me that they are no buyers at that level to sustain a continued...
I've been here before, you would have think I would have been better prepared. Price action went back to resistance on a inverted head and shoulders last July and here we are beginning the new year with a inverted head and shoulders that took us right to resistance. My idea of going big at the 50w SMA didn't work as well as I thought and a stop should have been...
I mention this every so often, but about a decade ago ETFHQ.com did a indicator on which moving average settings would get you the best gains and they came to the conclusion that can get the most gains with the least work looking for the crosses of the 13 and the 48 weekly EMAs. This chart shows the 4 available crosses on Bitstamp (I had to add the first one, but...
There are three basic medium to long term scenarios that can happen from here. Embedded in those basic scenarios are all the complications, like throwbacks, under/over performance, etc. 1) Gold breaks the resistance line bullishly; 2) Gold pulls back from resistance, finds support on the previous resistance of the accending triangle, retesting that level as...
There are several popular moving average ribbons and you can use whichever you like. I am using the Madrid because I like how much it has fanned out and gives a broader look at what could happen. The EMA ribbon is on the monthly chart and I have the 50w SMA (purple) and the 200w SMA (blue) programmed to show on the monthly chart. Trendlines and moving averages...
This is a continuation of the Comparing Silver Versus Bitcoin Equals Gains post but rather than comparing the current silver formation against bitcoin we are going to compare it to the formation created between the 70s through 90s. First will be the double ichi clouds. I mentions in the Silver and Bitcoin post that we are looking for the clouds to be thin and...
Three tickers on Bitcoin/USD shows that the 50wSMA (which has been programmed to show on the hourly time frame) is in the control of the bears. The price action didn't even reach the 50w on two of these tickers and so it seems that if you had to have a chart that was controlling you would use the coinbase chart. Price action might still try and mount the 50 as...