I had a script fire a pre warning signal which indicates to look for a second signal when it makes a support/resistance test for a short.
I am looking for a dump and then rally to fade down into the supply zone below.
The short will not be a long term trade, I am really looking to get long eventually but at cheaper prices.
BTC seemed kind of bullish earlier but...
Gold is well into rare air, it's looking a bit bubbly.
There aren't any reference points to find prior levels for a reversal so about the best that can be done is to project from fibs from the prior waves of the elliot impulse it's working on completing.
It's almost definitely working on finishing wave 5 of the impulse which is likely to correct back to the...
Bullish on this because of its own pattern and also the strength in the SP500.
It is in a flat top ascending triangle consolidation, looking for that pattern to complete then break the flat top resistance line with the starting 1 wave of a 5 wave bullish elliot impulse. The 2 wave of the impulse might tag the top of the flat top triangle which would make a great...
ES finished the recent week bar completely reversing the entire range of the previous red candle.
It looks very bullish with a possible fib targ at 3136.
I am not looking to fade this strength, tests of 2967-ish should be great buying opportunities.
Overall looking to buy pullbacks of breakouts intraday.
Crude is in a triangle squeeze. It will probably clamp down to a point then break out when it gets tired of the point of control region it's forming around 55.
One idea for a breakout is to use the pitchfork, although it is much too early to tell.
Major wicks from weekly bars are marked for use with intraday reversal trading.
Gold is near its highs after making a strong 5 wave elliot impulse up.
Expecting it to consolidate before making another major move.
It could attempt a test of the 3 point at 1361 while exploring prices to get out of the range.
The support and resistance lines are based on weekly wicks and are levels I will use to find intraday reversals.
Even though gold is...
BTC is building a triangle around $10k. It was avoiding it and now it looks like it's going to build a point of control on top of it.
This will likely end up making a triangle pattern which squeezes down to a point then breaks out from the triangle.
This will turn the squeeze pattern into a megaphone pattern which is difficult to trade but still has potential...
Eth is responding to $250 the same way BTC is responding to $10k. It's trying to avoid it and tends to bounce off it or jump across it without printing much volume right on top of it.
I'm not doing anything yet but once BTC confirms $10k as resistance I will be looking to short eth from tests of $250.
Longer term I am looking to buy up eth in the high volume...
Looking at the 1 hour chart to see how BTC is reacting to the $10k support/resistance line it looks like it wants to avoid it and tends to either bounce off it or prints fast and long bars through it to jump across.
Taking the range of one of these sets of bars and projecting it down below $10k gives $7850.
I expect that if BTC prints a price at $7850 it will...
BTC is looking kind of textbook right now.
It's got a clear 5 wave elliot impulse which is in strong need of a correction so it can continue higher.
The huge $10k psychological level is right at the .618 level and once we get a weekly bar close below it I would say that is strong confirmation that the bear move is on and strong back into an ABC style correction...
Considering btc might go into a long congestion zone as described in the attached chart it would be good to have a way to trade it without having to sit around doing nothing until it's in the buying zone.
Instead of having a wholly bearish bias while above 10k, I am looking to trade in either direction in the grey area but the rule is that all trades have to be...
Last time BTC had a huge weekly rejection wick in Feb '18 it responded with a long protracted flat bottom descending triangle then finally broke through the flat bottom and made an extension downward.
The wick pretty much defined the theme for all price action from feb to november.
We just recently had a giant wick for june. I was expecting follow through on the...
I had a good day yesterday shorting BTC.
Today the plan for intraday scalps and maybe longer term swings is to look for evidence that the major $10k psychological level that was support becomes resistance to the up side.
Since it has dumped hard recently there is reason to expect it will make a few retraces back up before $10k is finally established as...
I'm definitely bearish on btc for the next month or so, I've been scalping short recently and with the completion of this most recent weekly bar as a giant range doji that is almost entirely made of wicks I am considering holding some of my shorts for intermediate term swing trades.
There is a giant pocket of low volume below the recent price action because BTC...
I've been surprised that BTC has gone so far without any real pullback.
I've been scalping long but haven't taken nearly as much as I should from the markets since I was cautiously expecting a pullback and have not held my winners as long as I should have.
It is now forming a large rejection wick on the week chart which means it it probably getting ready for the...
I do not have a ZN position but if I were long and holding for a longer term trade I would be targeting the red box area.
ZN is below the point of control region for the last few years so I would not think this is a good place to sell, it is likely to swing back up into the POC area and tag some fib levels near the top of the value area in the process.
(See the link below to the 6 point checklist for what I'm looking for in a validated bull market.)
I've been scalping alts long with success and have a long bias on cryptos in general.
I am not yet ready to buy and hodl for the long haul yet because I'm still waiting for a bullish downside rejection wick hammer bar on the weekly chart to clear out stops to the...