As we continue to search for a bottom, there is room for hope in Cryptoland as the leader, Bitcoin, shows a clear uptrend emerging on both a longer term basis since our February low and a near term basis the last week. This is a long term bearish trend that is in the process of being broken, as we seem to be in the final hangover stages of the euphoria we...
The Japanese Yen has a convincing level of support with the Monthly Pivot Range high inline with the Daily Pivot Range. Juxtaposed to this support level is the 'A' up line which is our level of confirmation which will give us the green light to go long the market. The rule in this setup is to place the stop loss on the opposite side of the Opening Range, which in...
Zcash (ZECUSDT) has bounced off the Monthly Pivot Range high. This is significant, longer term support and is a great area to look at going long the market. On the Hourly chart you can see a very encouraging sign in the Hammer candle a few hours ago, that is part of the double bottom formation from the last couple days. The Daily Pivot Range is in the way for the...
XRPUSDT may be about to pop. With the support of the Weekly Pivot Range the price is holding nicely at the current levels. A steady uptrend over the last 48 hours provides for a good setup for the long side. The Daily Pivot Moving Averages are crossing over and pointing upward, another indication of long bias. Finally, with the Daily Pivot Range, 3 Day and 6 Day...
In this trade I show you a way to fade a rally into resistance at the Daily Pivot Range low. Then take profits as it retraces back to support. This turned out to be a Temperance trade in which we work the channel for small gains on short term scalp trades.
I talk about the time stop loss rule, taking small losses if our good risk reward, high probability trade setups do not pan out.
I share a bit about the trade entry and rules of the trading system.
With the recent bearish action the Pound continues to show weakness. The major resistance at the Monthly Pivot Range has held but now we need confirmation to see if the price will hold at current lows as we are approaching a test of this level at the time of this writing. The action to take is to place a sell order to enter the market short if the market trades...
The market maintains its bias to the long side with a recent strong move and retracement the price action is setting up for a move off the new session’s Daily Pivot Range. There is long term support with the Monthly and Weekly Pivot Ranges. The Daily Pivot Moving Averages are pointing upward and are bullish. This will give us a good risk to reward ratio trade. ...
XMR is poised for a longer term bull run and to sock some monero away. On the daily chart the price has surpassed and closed above the Monthly Pivot Range high. This is a significant event in that it confirms the last week’s move as something sustainable with the bias shifting from the many weeks of bearishness, to one of bullishness. The 14 Day Pivot Moving...
DASH is ready to make a longer term dash to the upside again. On the daily chart we see the price has surpassed and could close above the Monthly Pivot Range high, this is a significant event in that it demonstrates the bias has shifted from the many weeks of bearishness, to one of bullishness. Also considering the 14 Day Pivot Moving Average (red line) has...
There is key support with the Daily Pivot Range, 3 Day and 6 Day Rolling Pivot Range as well as the Weekly Pivot Range, including the Monthly Pivot Range. This setup cannot be more supportive. With the price trading in breakout mode at the moment of writing the need to act is now to go long the market. The action to take is to place a buy order to enter the...
There is key support with the Daily Pivot Range, 3 Day and 6 Day Rolling Pivot Range as well as the Weekly Pivot Range, including the Monthly Pivot Range. This setup cannot be more supportive. With the price trading in breakout mode at the moment of writing the need to act is now to go long the market. The action to take is to place a buy order to enter the...
There is key support with the Monthly Pivot Range low maintaining the current range low. Along with the Daily Pivot Range, 3 Day and 6 Day Rolling Pivot Range as well as the Weekly Pivot Range, this is solidly supportive. With the price trading with low volatility at the moment of writing this recommendation, expect to see a breakout one way or the other. We will...
With the Daily Pivot Range and 3 Day Rolling Pivot Range below current price levels the bias is shifting to the upside. However we need further confirmation before entering a buy position to go long the market. The key resistance is at the Weekly Pivot Range high which coincides with the ‘A’ up line and the 6 Day Rolling Pivot Range high. Moving Averages turning...
This is a classic breakout scenario. We have met the time rule for entry, 15 minutes trading at or above the 'A' up line. With the RPR inidcators and the Daily and Weekly Pivot Ranges below the current price, this provides for a high probability setup to buy. The Monthly Pivot Range low will provide the first main resistance and would be a good profit...
On a longer term basis we can see the price action setting up with a triangle formation on the daily chart. This indicates a potential strong move in either direction. However with the uptrend of the last many weeks still intact, we will want to look for a setup to the upside. The Monthly Pivot Range high is the only resistance to another move up. Now that the 6...
With the 'A' up line breached and the market trading at or above this level for at least 15 minutes, it's time to buy. Place your stop loss just below the Opening Range low of 8240 First Profit Target: 9085 2nd Profit Target: 9775 Once price reaches the first profit target raise the stop loss to breakeven. Then if the market follows through to higher levels...