TraderEngineering

TraderEngineering

Ethereum is comfortably above its bear run low of around $850, but are we going to new all-time highs in the short term? I doubt it . Reviewing the lifetime charts for Ethereum and Bitcoin, they both made contact with their lifetime support before hitting new all-time highs. As we can see on this chart, Lifetime Support is at $700, we're a good distance from...

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DXY confirmed its breakout from the bull channel to the downside and is currently showing some minor support at the 200EMA. I would expect the price gap from here to the 9EMA at 105.000 to close followed by another leg down. We have to be careful to not get caught in a 2 legged trap, which is also a possible outcome at this level. How do we trade this? Wait...

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Bitcoin attempted to break out to the downside and escape the bull channel only to be met with a fierce rejection and rip back to $38,000. There is a slight pause at this critical price with some upside left to the top of the channel but also a good amount of downside to the 200EMA. How do we trade this? After a strong bull response like that and continuing in...

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DOT broke out of its descending wedge pattern last week with a bull bar closing near its high, a strong breakout bar. Since then, the price has pulled back to the 30EMA, but will it hold? Bitcoin is currently pulling back from its Weekly bull channel resistance as depicted in my Bitcoin 4HR and Weekly analysis. DOT will likely follow its lead with the broader...

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Ape has been in a descending wedge pattern since the spring of 2022, a bullish pattern in which we should be looking for long entries. A breakout of the wedge pattern is ideal with a strong bull bar closing near its high. This bar would be our confirmation of a breakout, preferably above the Weekly 30EMA. My Bitcoin 4HR and Weekly analysis show a pullback is...

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Bitcoin has had three pushes up from its previous trading range ending with a failed break of the $37,500 resistance level three times, leading the price below the 30EMA. Per my Weekly Analysis, the $37,500 price area is Bitcoin's Weekly Bull Channel resistance. These data points mean a short is reasonable from the $37,000 price area with a stop just above the pin...

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Doge has broken out of the descending resistance and made contact with the Weekly 200EMA. The price has now pulled back to the 30EMA, so where do we go from here? Bitcoin is a leading indicator for the alt market and according to my Bitcoin Weekly Analysis, is pulling back from the Weekly resistance. That pullback will likely hold back the Doge price from...

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USD/CAD bounced nicely off of 1.36300 for a nice 200+ pip run to the upside. We ended last week with a Daily Pin Bar Bear candle, and DXY (Dollar Index) was in a trading range. Where does that leave us for this week? First, we're in a bull channel which means the probability of profit is in the bull's favor. I am looking for a long entry and have no interest in...

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Chainlink had a fantastic breakout of the Weekly 200EMA closing two weekly candles above it. We're about to close a third bullish weekly candle in a row, so should we long at this level? Not so fast! As a trend continues your probability of profit increases in that direction, but that's in exchange for greater risk because your stop loss must be placed under the...

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CAKE is in a descending wedge pattern and currently flirting with breaking out. After last week's bull bar closing near its high, we had a slight pullback to the 30EMA and bounced back to the top of the wedge. We have yet to breakout let alone confirm a breakout. Until then, this is what we have for data: Key Points 1. The Descending Wedge Pattern is...

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BTC has made contact with the top of the Weekly Bull Channel and has come up against some resistance. In my previous 4HR analysis, I showed the potential for a measured move from the 4HR Bull Channel to the Weekly Bull Channel Resistance, we have reached that price of about $38,000. Where do we go from here? Key Points 1. Bull Channel means we should always...

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Solana has broken out of the 4HR bull channel and is beginning to pull back to the channel top. Contact with the channel top is a crucial moment in deciding which direction the price is likely to go. A bull signal bar followed by a 4HR confirmation bar (bull bar closing near its top) is what we're looking for to remain long. A bear bar closing near its low below...

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BTC/USD broke out of the previous trading range to $35,000 and has been in a bull channel continuation pattern since. Just above this bull channel is the weekly bull channel resistance which happens to be a perfect measured move setup from the previous breakout level. The probability is in favor of a breakout to the upside to at least touch the Weekly channel...

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DXY has been rejected at the bull channel support, falling to 105.000 before closing last week. There is now a gap to the 200EMA, which given the rejection bar, seems like a probable target if you're already short. I would caution going full-on short just yet until we close below the 200EMA. If we get a bounce at the 200EMA, I would consider a long back up to the...

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USD/JPY has finally touched the previous high of 152.000 with a strong bull candle that we'll call a Bull Capitulation. Immediately after that price target was hit, we saw a series of bear bars falling to the 30EMA. We have now been above the 30EMA for 69 days and after touching a key price range, have a high probability of falling below down to the bottom of the...

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USD/CAD has had a hard rejection at the top of the Daily Bull channel. Unfortunately, we did not close the gap between 1.39 and 1.40. Instead, we fall back down to the 1.36500 area and still have some room to fall. I would start longing around 1.36, look for entries on the 1hr or 4hr chart and hold a position until the top of the bull channel. Key Points: 1....

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JPYX has been in a descending wedge holding pattern since July of this year and has yet to successfully break out toward the upside. This analysis predicts a pullback from the bear trend up to the Daily 200EMA around 792.0 and if penetrated, to the 807.0 area. Key Points: 1. JPXY is in a descending wedge pattern which is a bullish signal 2. Several bull candles...

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BTC/USD has broken out of the $25,000 and $33,000 trading range, reaching $35,000 and nearing the top of the bull channel. Does this mean the next bull run has begun? Unlikely. I believe we are missing a few key events before we see a bull run to the next all-time high. BTC has yet to touch lifetime support as it has the last 2 out of 3 bull runs to new...