mljones

mljones Updated 

Not shorting btc directly, using this to gauge how long to stay in a TRX short. Looking like BTC made a 5 wave impulse to the top of the larger consolidation triangle and has completed the A abd B of the ABC correction. Target for the C wave is about $9800 although I would expect it to eventually probe the bottom of the flat triangle and $9400. I will be...

mljones

Not a short, but keeping tabs on this to touch its old POC at $10 if BTC makes a corrective move back to $6400. Overall bullish on this but not without much cheaper prices.

mljones

Updating the cup and handle scenario with the flat triangle Philakone has been posting. This makes it look like $9400 is more significant than $10k. In his recent video Philakone is basically near term bearish since it's at the triangle resistance region and he's looking for it to go back to the triangle mid. I think that could be the start of the handle of the...

mljones

BTC is at the top of a triangle which means it is likely to test back down into the triangle. That means it makes sense to look at what alts are experiencing market rejection to the point that they may get rejected by the market to the point that they will soon no longer exist in any meaningful way. TRX comes to mind in the sense that really looks like the main...

mljones Updated 

ADXVMA suggesting that BTC will break from the triangle to the down side. If I short this it will be after it breaks downward significantly then attempts to tag $10k. Like on eth no trade yet but something to watch. I think breaking to the down side would actually be better in the long term for larger moves to the up side beyond $20k since more consolidation...

mljones

No trade yet but I am watching for this to eventually form the handle after a bit of correction, then will become interested in accumulating for the long haul upward.

mljones

Watching for the ADXVMA to flatten out and go yellow. When that happens I'll be looking for a bearish hammer on the day chart around the $225 area as a signal to short this with a target of around 150. No trade yet but it's something I'm checking at least once a day.

mljones

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...

mljones

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...

mljones Updated 

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...

mljones Updated 

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...

mljones Updated 

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.

mljones Updated 

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...

mljones

Intraday tests of the range it's breaking from will be good areas to look for shorts

mljones

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.

mljones

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...

mljones

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...

mljones

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...