Big picture is we are in a falling wedge and were consolidating in a symmetrical triangle and popped out the top which is unusual as these are normally continuation patterns, not reversal patterns. As a continuation pattern they are not that great due to the high rate of throwbacks and pull backs they experience (thepatternsite.com). Considering the potential of...
There are a lot of similarities between BTCUSD in the 20014 bear market and the current bear market, and the primary similarity that I see the bulls following is found in the moving averages. The chart has three moving averages: Dark Blue: The 200w SMA (Programed the CM_Ultimate to be on a different timeframe than the current view Light Blue: the 3D 200 SMA ...
This post is a massive reversal of my bullish sentiment on ETHUSD over the last couple of months, so it is a rather lengthy post. In December ETHUSD doubled while BTCUSD consolidated in a tight range (30%, iirc) and then both retraced. I thought that ETHUSD would once again move to the upside while BTCUSD consolidated sideways and then when BTCUSD dumped ETHUSD...
This is a quick down and dirty test you can use to tell if the next bull run is upon us, to minimize your risk and maximize your entry and reduce the time component. The chart shows six times the price action struggled against falling resistance on the log chart for at least 60 days with the rest being substantially longer. For all of the green examples the...
The chart is pretty simple, Dark blue lines: 200 weekly moving average Orange line: 50 week moving average Purple Line: 200 Daily moving average (programmed the CM_Ultimate to show a different timeframe) The S&P 500 really seems to be in the drivers seat with the bounce initiated off the 200 weekly moving average and the NASDAQ responding by apparently...
You might call me a mad man, but I see what I see. Head and shoulders on the hourly. A small micro formation, means very little until we zoom out and the neckline of the head and shoulders takes aims right were he established our low mid December. Also, the right shoulder matches the angle established between the two points of contact on the orange resistance...
Volume confirms everything but sometimes you have to go looking around to find the volume you are looking for. The normal volume, the Volume Profile, or in this case, the volume on the inverse ETF of the stock market/indices. Below is the three month (1q) chart for SH and we see massive volume candles confirming the tops of wave 3 and 5 from my posts on SPX. ...
I got bull-trapped in IQ around August and after that I placed it on my "check once a month list" and so I missed the last 4 weeks of gains. I also heard about China moving to improve its liquidity problem and for some reason I didn’t start reading into that until just now. Normally I would be worried about FOMO’ing at the top but this clearly just started to...
It happened again. I heard someone who is otherwise extra-ordinarily informed and educated blamed market movements on some comment from the FED or news about a trade deal and it is so powerfully wrong I have to return to the charts to see what has happened technically. The week of December 24, 2018 saw the price action hit the 200-week moving average and there...
ETHUSD hit its 2017 low in the first week of December and likewise hit its 2018 low in the first week of 2018 at almost the same level. After a bounce we formed a rough cup and handle pattern with what would become the 0.786 level became resistance as the 12H MACD had a cross and eventually achieved an impressive liftoff. Currently it appears we have much the...
This is a quick down and dirty post. ETHUSD fell from 160 and made a consolidation triangle which broke down and now appears to be creating a falling wedge reversal pattern. I have been spamming a lot how I think we will be continuing our way up and this pattern is inline with that. At first glance you get one triangle pattern after another if you ignore the...
I am currently of the mind that XRPUSD is going to have a small (for crypto) retracement and then basically blow the heck up. A third point of contact on the rising support gets a 19% pullback and then stages us for a breakout to the upside the hight of the triangle, about a 100 percent increase, depending on where it occurs. The retracement seems pretty certain...
Adam and Eves are typically bullish reversal patterns but we appear to have a pattern developing here within a channel/consolidation pattern. We have Hidden Bullish Divergence on both the RSI and the MACD so an uptrend seems likely. If this does perform like an adam and eve then you basically go long one penny above the peak of the red arrow and try and get...
More than any other post I am looking for feedback and comments I have been tracking a potential falling wedge for a while now and I have been hoping that we would hit resistance again because shorting that would give me the cleanest trade I could hope for on BTCUSD, but the market doesn’t always give you what you want As I have been hunting for a bigger...
I continue to play with the volume profile to add it as another tool in my TA belt and so this is more exploratory than anything else. I have posted other TA on XRPBTC where I think there is an inverted head and shoulders that should execute bullishly. This is one of the trades I am most interested in and is the main reason I am charting BTCUSD and XRPUSD, as I...
I am still incorporating the VPVR into my technical analysis but right now it isn’t really the center of what I am doing, so that may be the weakest part of the TA. We see the last week of price action lead to the development of an inverted head and shoulders. The lower end of the volume area provided support for the head and right shoulder and the bounce is...
The set up is pretty simple, the price dipped, we have a clear structure on the small time frames that could make a decent profit for those with the margin and the aggressiveness. Longs increasing sharply at this level show an interest at buying at about $115 but this structure is on a low timeframe so it could still be ripped to shreds. The price action is flat...
Everyone watching Ethereum has been watching this falling wedge perform. A look at a non-standard timeframe, the 10 Day, shows we just had a bullish MACD cross yesterday. The 10D chart also shows a volume pattern suggesting/confirming my sentiment that a bull run is approaching as we have the bowl shape on the volume profile. The massive red candle in July of...