cheesetoast

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Joined Australia cryptotoast
"Understanding the markets is the science of supply and demand" - Robert Kiyosaki
Markets Allocation
85 % cryptocurrency 12 % forex 1 % stocks 3 % other
Top Mentioned Symbols
BTCUSD 20% | 33 EOSUSD 4% | 8 ETHUSDT 4% | 8 ETCUSD 4% | 7
cheesetoast cheesetoast LTCBTC, 60, Short ,
155 0 4
LTCBTC, 60 Short
Further weakness for LTC

Trading the alts against BTC has been quite straight forward the last few days. Bearish patterns have been playing out very well. We can see on the chart LTCBTC has broken out of a rising channel. This is a sign of weakness, which was a more probable outcome given the grinding nature of price (circled area). On the smaller time frames, there was even a head & ...

cheesetoast cheesetoast DXY, 60, Short ,
89 0 4
DXY, 60 Short
Dollar to lose strength

Head and shoulders pattern has trigger on DXY. What does this mean for cryptocurrency? One possibility is that we are about to see USD flow back to Bitcoin. Could this be the reason for the resurgence in Bitcoin prices today? In a buy position on a number of USD crosses. Trade safe. Please give this trade idea a THUMBS UP and I will keep you updated! ...

cheesetoast cheesetoast EOSBTC, 60, Short ,
295 0 7
EOSBTC, 60 Short
EOSBTC short opportunity

Failed break out of a descending channel. Favoring the downtrend to continue. There is a head and shoulders forming that I intend to short. Will wait for price to confirm before entering. Profit target is a Fib cluster just below. Stops above the right shoulder after entry. Please give this trade idea a THUMBS UP and I will keep you updated! Disclaimer: This ...

cheesetoast cheesetoast BTCUSD, 60, Short ,
357 11 12
BTCUSD, 60 Short
Is Bitcoin struggling again?

After taking profits on Bitcoin short trade setups (see links below), I was carefully watching to see how price would react to the $5,900 area expecting a rally (profit taking). There was a nice rally up to the $6,600 area. Now, if you look closely there was a complex inverse head & shoulders pattern forming. The right shoulder was smaller, however the volume ...

cheesetoast cheesetoast ETHUSDT, 60, Short ,
222 1 7
ETHUSDT, 60 Short
Etherium just triggered a Short entry

Possible at market shorting opportunity on Etherium. Breaking a pennant formation. Targets shown. Apologies for the lack of description as i'm off to bed! Please give this trade idea a THUMBS UP and I will keep you updated! Disclaimer: This is only my opinion, make of it what you wish. It is not financial advice.

cheesetoast cheesetoast EURUSD, 3D, Short ,
286 0 7
EURUSD, 3D Short
Significant sell signal on the EURO

There has been talk about the Lira and Rand losing a lot of value against the USD off the back of Trumps trade wars and strengthening Dollar. But don't forget the Euro too which might be next to capitulate. Of course, I'm not a fundamental trader or expect by any means so will rely on technical analysis. Looking at the chart, I believe the EURUSD has just ...

cheesetoast cheesetoast BTCUSD, 60, Short ,
359 2 10
BTCUSD, 60 Short
One more leg down for Bitcoin

Further to my previous post titled "Further downside for Bitcoin expected" (link below), the bear flag pattern / ascending channel broken to the downside and reached our profit target. This also coincides with a 127% Fib extension. So where to now? Firstly, I will draw your attention to the shaded yellow area on the chart. This is a DEMAND zone in which price ...

cheesetoast cheesetoast BTCUSD, 60, Short ,
425 1 14
BTCUSD, 60 Short
Further downside for Bitcoin expected

Further to my previous post titled "SEEYA BITCOIN" (link below), the head and shoulders pattern has successfully reached our profit target. So where to now? It is my opinion that we are to see further downside. The momentum has clearly shifted and the last of the bulls are hanging on, only to be crushed each time. The last stand for Bitcoin is now. Unless there ...

cheesetoast cheesetoast EOSBTC, 240, Long ,
348 1 7
EOSBTC, 240 Long
Slowly Accumulating EOS for a Bullrun

There is a larger falling wedge pattern on EOSBTC that I've been keeping watching closely. I believe we are near the bottom and targetting a breakout to test the 38.2% Fib from the beginning of the falling wedge. On the smaller time frames, I've been entering into a LONG position on: Double bottom pattern Cup and handle pattern Bull flag pattern I will be ...

cheesetoast cheesetoast BTCUSD, 120, Short ,
541 8 12
BTCUSD, 120 Short
Seeya Bitcoin

Head & shoulders pattern forming on Bitcoin. There is a demand zone shaded in blue that is acting as the last support. I'm expecting this to break, and break well with volume. A sloping neckline always performs better! Volume is also decreasing on the right shoulder. All signs of a downward breakout. Target is the green line, stops above red line once the ...

cheesetoast cheesetoast THETABTC, 240, Long ,
188 2 6
THETABTC, 240 Long
THETA about to make a move?

Aside from the strong fundamentals on this coin, we can see a falling wedge pattern on THETA. With the number of falling wedge patterns, I do consider whether it is time to begin accumulating alts again. With regards to the THETA chart, the spike in the volume that formed a doji candle (indecision) has caught my attention. A break above this candle could trigger ...

cheesetoast cheesetoast TRXBTC, 1D, Long ,
897 1 19
TRXBTC, 1D Long
TRON looking good for a BULLISH move

I've been keeping an eye on TRX for the last few days as it's been in a falling wedge pattern for quite some time. The RSI is starting to tick upwards that coincides with a possible last wave down. Interestingly, there is a cup and handle pattern on the 1 hour chart that i'll be watching closely for a LONG position. Initial target is the 38.2% Fib of the highs ...

cheesetoast cheesetoast BTCUSD, 60, Long ,
1156 6 34
BTCUSD, 60 Long
Bitcoin to push towards $8,700 next

Haven't posted a BTC chart in a while. It's been quite the ride so far and expect the bullish momentum to continue. The last few days has seen Bitcoin retrace and consolidate. The selling pressure has not been extreme and likely to be profit taking only. With that said, buying on dips is a good strategy for now. On the 1 hour chart, a possible inverted head & ...

cheesetoast cheesetoast MFTBTC, 240, Long ,
404 0 8
MFTBTC, 240 Long
MFT falling wedge pattern

I like the look of MFTBTC right now. We can see a falling wedge pattern forming with RSI divergence. Picking the exact bottom can be tricky, but we can see that price has already broken out. The only concern at the moment is volume has not increased. For this pattern, I usually target the 38.2% Fib of the overall move down and place stops below the low. This is ...

215 0 3
ETHUSDT, 60 Long
Inv. H&S Pattern on Etherium

Sorry for the late notice, but I've only just seen the inverse head & shoulders pattern on Etherium versus the Dollar. The neckline is sloping which generally leads to a better breakout performance. In addition, volume is decreasing which is also a good sign. A measured move from the the breakout origin at Point (C) targets the $479 area - Point (D). Use a ...

cheesetoast cheesetoast NPXSBTC, 240, Long ,
594 8 7
NPXSBTC, 240 Long
NPXS Falling Wedge Potential 50% ROI

Since the Binance listing, NPXS has been in a downtrend. There is a chance that NPXS may have reached a temporary bottom with the falling wedge pattern. We can also see the divergence on the RSI indicator, making a higher HIGH yet price action has made a lower LOW. If we see a break out the top, the projected target is the 38.2% Fib with stops below the swing ...

cheesetoast cheesetoast ETCUSD, 240, Short ,
618 8 4
ETCUSD, 240 Short
Etherium Classic looking weak

The false break out the top of the rising channel was enough for me to look for shorting opportunities. This indicates there is greater selling pressure above and now expect a break through the bottom of the rising channel. This could also coincide with Bitcoin which is at a supply zone and struggling to push higher without volume. Therefore, keep an eye on ...

cheesetoast cheesetoast BTCUSD, 240, Long ,
234 1 4
BTCUSD, 240 Long
Bitcoin at a crossroad

The next 24 hours will be critical to know which way Bitcoin is headed. I'm slightly more BULLISH for the following reasons: Bull flag pattern appearing with a projected target at Point (D) that confluences with the psychological key number of $8,000 Inverse head and shoulders pattern still in play with a target at $7,688 Weak retracement from the supply zone, ...

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