Bitcoin is below the 200-week and 50-month exponential moving averages. These acted as support in the last bear market and Bitcoin has not treated them as resistance until now. Another sell-off is likely unless Bitcoin can get back above these levels. The 100-Month EMA is the next major MA support.
After hitting resistance at R1, BTC has sold back down to the S1 level. We've seen a drop off of bearish momentum and a very anemic bounce. Notice that the trading range is much tighter than the previous attack on S2. This tells me that while the bulls are willing to buy in earlier than before, the bears are standing their ground. If S1 and trendline holds, a...
AUD/CHF has been trading in a range between R1 and S1 for over a year. I open to taking trades at both locations. Price extremes outside of the wH Channel should also be seen as attractive buy or sell locations as long as we remain in a trading range.
AUD / JPY has been trading in a range since march. I have been selling at R1 and buying at S1. This last attack on R1 has been pretty aggressive so i will be watching for any weakness of R1.
Notice that despite being in a range, the channel has down a pretty good job of predicting the outer price bounds. Also notice that the channel has had a slight uptrend.
After bouncing at S1, the bulls and bears have been battling it out at R1. If R1 holds, a retest of S1 and/or the lower trend line is likely. Bearish momentum is slowing and S1 and S2 are both be attractive buy locations for bulls IMO, though in probabilistic terms I think a hit of S1 is much more likely than a hit of S2. Personally, I am waiting for the less...
This is the Channel by wH Indicators. The inner bands are a moving avg of the highs and lows while the outer bands are a version of ATR that addresses the problems that bollinger bands and keltner channels have with log charts (especially when the chart scaling is set to auto). Personally, I find that this channel is smoother than a bollinger or keltner while...
Now that ADA has had a break to the downside of support and corrective structure at (3), it is starting to look like we are in a large trading range (1). The box at (2) is a false break of that level but may also be the bottom end of the range--it is a little unclear where buyers will come in. The trend isn't super consistent across time frames so I plan on being...
1 Bulls take control for the first time in 2018.
2 Price hits resistance and is met by aggressive selling.
3 Price is now consolidating at a previous support and a potential place of value (also a 61.8 fib retracement of 1 and 2). This is assuming that the bulls will be able to regain control of the market in the near-term. Judging by the consolidation,...
Starting with higher timeframes:
1. Strong uptrend (favors breakouts and offers limited opportunities to buy pullbacks on the way up)
2. Price has hit resistance (strongest since original breakout) and we are now in a corrective phase.
--A pre-breakout buy. There is a reasonable shot at a breakout here but also a high probability of a reversal at...
1. Parabolic sell-off
2. Buyer exhaustion/hard bounce (forms a key swing point).
3. Failure to to make higher high. Strong down move breaks support.
4. Price returns to key swing point, small corrective structure forms.
5. Price breaks to the upside
6. Hits resistance.
Places I am looking to buy:
-Pre-breakout if conditions look favorable. (defined area, price...
2 days ago, BCH settled into to a small corrective structure (large red rectangle). As things played out, a well-defined resistance level became apparent and buyers kept buying in at relatively higher prices (red trend line).
Towards the end, an even smaller corrective structure formed and I was able to buy in with a limit order after price broke above and pulled...
*Disclaimer--I follow ADA but am not trading it currently and have no immediate intentions to do so.
1. Bearish impulsive wave. More often than not, impulsive waves are followed by milder corrective waves in the opposite direction.
2. But buyers came in strongly at support.
3. And instead of the anticipated corrective wave, a bullish impulse wave pushed ADA back...
BCH-Live Trade Journal (daily chart)
MA is still down and trend line is intact--I don't plan on trading the daily chart until I see that change. Until then, I will be looking at faster time frames for trading opportunities (posted as separate ideas) but I will be watching for a breakout of the trend line or a break of the support zone.
LTC-Live Trade Journal (daily chart)
3/10/2018 (1st entry)
Litecoin is relatively flat at the moment compared to BTC and ETH which are bearish. While I don't think there is a strong case to trade the daily chart at the moment, faster time frames should be looked at. Other time frames will be posted as separate ideas. ...