Short covering rally looks to be on low volume and EURO markets have not shown the same strength as US. THinking 3 candles ahead, need to see this show follow-through or at least stall on next few candles as short covering rally may continue. This is an anticipation trade without confirmed momentum.
Recent strength in stocks early in the week seems to be a false rally as markets sell off on Thursday. Looking to see a test of the low of the larger range. Momentum should continue and be in profit or at least near entry after tomorrow otherwise will look to close if market is still choppy and there is weak followthough. This volatility today could be the first...
Classic market structure. Clean bear flag setups but expect a lot more downside from the bigger move.
Regardless of its true utility, the majority of people that bought Bitcoin did so because they thought it would go up.
I don't think the next round of buyers is going to be there and the overhead inventory of trapped longs is probably huge.
There is so much...
Triggered long from the bull flag. First target is 1R. Second target is previous high. Developed Daily trend, pull back, strong day entry. Expect follow through after 1-2 days otherwise move stop up tightly.
Bull flag entry from last Thu looking to manage stop today as we move closer to 1R target
Should we see a strong day move past target will move stop up and trail. Stalling around 80% of target level will close our move stop tight.