It started with FOMO (fear of missing out) buying when everyone had "we buy gold" signs in their windows.
Once the buying faded, Gold shills like Peter Schiff had an "oh shit" moment once gold broke key support at $1,550, which was the signal of a change of the long-term trend.
Gold's been in a consistent slow downtrend since 2013. Even though it's bearish,...
Over the past couple of weeks I've been telling my students to watch out for a breakout and short squeeze above $250. So, I sent trade alerts to BTA members showing that I started scaling in around $245 in anticipating of $250 breaking, then closed the position once price went parabolic into $265.
Right now Bitcoin is pulling back, and I'm still bullish as long...
A lot of people are speculating if this is the start of a bear market, or just another pullback in the larger bull trend. Instead of anticipating, I think it's best to let the charts speak to us on this one...
Have been preparing my traders
for a breakout. Scaled into a long position
over the past couple of days, and did my final
adds on the news that the first Bitcoin ETF is
approved. This is a nice catalyst to combine
with the technical pattern we've been watching.
Looks like we could get a retest of $225 soon. There have been a lot of exchange hacks lately and heavy selling (probably from hackers). I'm not a huge fan of shorting mid-range, just showing where it could pop to.
Like many people, I've been looking
for a bounce play in oil, but given the
amount of government manipulation,
I haven't been over aggressive.
We got a Friday afternoon pop of over 7%
on relatively low volume to retest $48 resistance.
This was probably a short squeeze after a full
10 trading days of lower highs. In other words,
a lot of people covered their...
Technical: Snapped trendline after having
an unsustainable run above $300.
Fundamental: Oh no! NY said Coinbase
isn't actually licensed as an exchange! ...
Who cares? Let's not forget that big VC's
and the NYSE just pumped over $100M
into the company! Investment and innovation
will trump BS regulation any day.
My plan of action: Currently flat. ...
Get trade alerts & learn my strategy at dunn.ly
The market put in a picture-perfect inverse
head-and-shoulders pattern over the past
2 weeks, which lead to 4 beautiful long setups
over the past few days, and I just closed part of my
long position at $393 (holding 2/3 for parabolic moves.
The market's had a nice recovery since
my buy around $288. The market has
pulled back after going over/under ~$400.
Right now I'm not super-excited about longs
or shorts, but watching to see what happens
in between $375-$390.
If the downward channel breaks, we could see
a "popped stop run" to retest $410, but another
possibility is a snap of $375 for a...
As I mentioned in this post, dunn.ly
Looking to see if the strong
dollar causes another panic
in Gold to get price around $1,000
If so, I'll probably start to accumulate
more for long-term hold.
This isn't a speculative trade, rather a
hedge against inflation.
Here's my blog post for October market forecast - www.chrisdunn.com
Currently watching $345-$400 to see how the market
reacts to this major key support zone. I think many weak
longs are already out of the market, so I would expect to
see bulls able to hold this level for a while unless something
Click here for the full video and report: dunn.ly
Today I caught a beautiful short on the
e-mini S&P 500. While most investors
were panicking, my trading students and I
were cleaning up shorting the e-mini futures
in our trading room.
The idea was shorting the secondary move
after the 20 point gap down before regular
market open. You can't...
Per my live tweet and trade alert to my trading students on Thursday (twitter.com), I shorted at ~$609. Volume is lighter on the crash than I wanted to see, so I'm locking in some profits down around $590, but still trailing/holding stops looking for another panic down to ~$565.
Check out the full post here - www.dailytradingprofits.com
I think Bitcoin is poised for another decent
sized pop. After confirming $560's as strong
support, sellers have been holding price below
$650's for a while. This is classic consolidation
with higher lows and lower highs. ANY major