TraderItcha

TraderItcha

Price broke through a big multiday trendline up. I'm expecting a sell down to November's cost basis so that we can back fill some of the trapped short positions and check if there still is buying demand and buyer retention. If both are present and no supply hits the market then we are going back up. The vix is also at a very low point relative to the past 2...

TraderItcha

Price is at the bottom of the wedge, a significant level below us is the year+1 halfback. If we do a look below and fail of that level or of 4048 (low of a previous supply and demand zone) I would consider longs.

TraderItcha

We have found a bid at year+1 half back. Price Should price consolidate here and reclaim last month's low I would be looking for last month's half back.

TraderItcha

We are approaching last month's 50% retrace and the region where longs positions got trapped. There is not a whole lot of volume traded here for the past 2 months. I expect some selling to happen as we start to fill in this inefficiency, however, the bigger reaction I expect to happen when we get to last month's point of control, where inventory is stuffed at in...

TraderItcha

Last friday S&P fell 41 pts in 3 minutes after data came out, and rebounded dramatically in subsequent 30 min periods. We are in a contested area with a lot of turbulence. There is a trapped short position underneath 4300s, look for responsive buying should prices come down to this level. Sunday sellers stepped above 4340 in and now there is a position being...

TraderItcha

Price tested the previous year's 50% retrace. We are above settlement and back into the previous month's range. There was accumulation under the 200 moving average in the 30min chart. We are likely to go to the 50% retrace of the weekly, and possibly take out the upper stops.

TraderItcha

Price seems to have found support on a previous suply and demand zone. Getting above the previous day high and the weekly's 25% retrace could be a set up to take us to the 200day moving average. It also happens to be the 50% retrace of the previous year.

TraderItcha

Trend is still to the down side in the 1h time frame and up. In the 30min time frame there is a possible reversal. Interesting to see that we got a reaction off the previous gap back into yesterday's price action zone and into that previous supply and demand zone we had above the gap. Futures are having difficulty holding t+2/settlement. If we can hold settlement...

TraderItcha

We have fallen out of a head and shoulder's pattern, and could seek the pattern's target at 4145.50. That said, the 50% retrace of the previous year's price is slightly above us and could also be a good take profit target if price gets there.

TraderItcha

Eth's price is above the cost basis of this recent lower move. In the chart I highlighted upper and lower stops for price action. Given recent S&P500 performance I would be surprised if eth goes much higher from here, imo it is more likely that we will be taking out the lower stops.

TraderItcha

Yesterday we saw responsive buying into a pullback that took out the lower levels of a supply and demand zone. Price is now at the previous day half back. Today we have a fed meeting, I'm thinking that this fed meeting is going to be a buy the dip and rip it higher to take out upper stops.

TraderItcha

Short sellers could fuel a move higher up as we head into fomc on wednesday. I'm looking for a deviation below t+2 lows or previous day lows and for some responsive buying to go long along side the move higher up to previous month's half back and take out upper stops. If price can find support above the previous month mid point we could take out the highs from...

TraderItcha

Price has taken out the previous day high and found resistance at the previous week 75% retrace. It could develop a shorting opportunity to take out lower stops back down to yesterday's half back. The previous month's mid range has been taken out and instead of resistance it should become support now.

TraderItcha

Price deviated above the previous month's half back and above the previous week's half back. There is a potential short to take out lower stops with the stop loss above the price deviation.

TraderItcha

I believe that we will squeeze up to take out the previous week's mid range as well as the previous month's mid range. Once those stops are taken out I will look for shorting opportunities as I believe that price will deviate above those levels to then take out the lower stops and fill in lower levels. Higher first then lower. A possible chart pattern to form is...

TraderItcha

Trapped shorts below us holding up the market. We are below settlement, and prices seem to be bottoming out on shorter time frames, but lower stops are closer than upper stops. There are plenty of pinhãta levels down to fill the market inefficiency below us. 9ema has crossed 20 sma on the 1h indicating downside. Bad risk reward for longing the market here, and...

TraderItcha Updated 

Hong Kong has been facing quite a lot of pressure from Mainland China, and a good portion of their higher networth population are sending assets abroad to diversify from Asia risk. The HKD is softly pegged to the USD and they've been maintaining this peg for 40 years. Their stock market is at a very key level of 20k HKD and could start to break down (the HKMA uses...

TraderItcha Updated 

Sand has been stabilizing around 1.30, historical volatility in this instrument is usually much higher. I have a bull bias. If bitcoin runs up I expect sand to go to 1.90, potentially 2.30 within the next month. A long trade with stop loss at 1.25, entry at 1.31 and take profit at 1.91 would give a 9.83 risk reward trade. Risk 1% of your portifolio to potentially...