tcormier321

tcormier321

There's a channel forming that should provide traders with good insights on when and where to open a position on LTC We are currently in unknown. It could break up or down. Thankfully this is a good opportunity to wait - breaking up is above $165. Not too far from where we are, so patience means you won't be missing out on much. And if it breaks down, below...

tcormier321

LTC needs to break the ~$165 point to be considered reversal in the short term. $215 to break the overall downtrend. First signs of divergence longer-term on RSI and MACD There are some other patterns indicating a possible reversal of the bear market - inverse head and shoulders forming along this trend, lots of volume support for the run back up. The buy-in...

tcormier321

Comparing to the ETH, starting the down-turn on 1/17 they have traded virtually identically. After the breakout of triangle, the stoch hit low before the market of ETH went up to break above the last bounce on the top of the past triangle. If the same follows for LTC it should see passing above $215. It may not be the best reason to make a trade, but BTC led...

tcormier321

This is a difficult trade to evaluate. On one hand it could be a bear flag before the market continues down. On the other, we could be seeing divergence on the RSI and may continue higher. But it is resembling the last activity before ETH rallied to a new ATH. If ETH breaks above the downward trendline of 1090, look for profits around 1200 as the longer term...

tcormier321

Nice fakeout ETH. Made for a good opportunity to sell my holdings to buy back a lot more cheaper!

tcormier321

It is much easier to be euphoric about an asset when it is making you money than it is when it is losing money. You will hear many traders advocating that these corrections are "healthy" for the long term growth of the market, but what does that mean? Look at this from a longer perspective, about 6 months. You can see a very distinct channel forming, particularly...

tcormier321

Great money making opportunity in this market uncertainty. First view is what is published: RSI is the lowest it has been on the 2H for as far back as the chart will permit going. We are completing the C wave of a correction and are about to continue the bull run. If we extend the channel back, we see long-term parallel growth lines going back all the way to...

tcormier321 Updated 

The fib extensions for both this run we had before the weekend, and over the long term match up at the $300 price point. RSI is neutral, but slightly bullish converging along with MACD and awesome indicator. Our entry for this trade was at $229, so still a god entry point. For caution, look to take some profit at $300 or close the position to try and buy a dip....

tcormier321 Updated 

I've been enjoying the ETH ride, and while I still think it is profitable, there is risk in trading near highs. I am looking for my next move in LTC for a few reasons. 1) Near the support for a long-term support line since the bear market has started. 2) Divergence using the awesome indicator that broke the previous trend line, with twin peaks forming 3) RSI...

tcormier321

Yes I have been bullish on ETH, but the ABC correction may have been quick and painless, and fueled alongside with Korea news. We have closed the 2H candle inside the past channel. Now is the time to go long to pick up good profits.

tcormier321

It is hard to say how the market will respond to Korea in the US once they wake up. They could screw this up for all of us, but the news out of Korea generated a response. While fundamentals can't be ignored, I like to see how they fit in with our technical analysis in determining whether we should continue with the trade or not. To help preserve capital a good...

tcormier321 Updated 

Looking for the bull run to continue. RSI, MACD, and Awesome Indicator are following their old trends. After hitting a new ATH RSI dips below 50, MACD and Awesome Indicator go slightly negative, and we retrace the fib levels. Then, we go toward the 1.618 fib extension to set another ATH. If this pattern continues we should look for $1,600 on ETH for the next all...

tcormier321

We are above the channel we have been trading in. A quick pullback down to the support would be healthy before continuing this bull run. Coupled with some bearish divergence on the RSI, this looks familiar and should be a good point to take a bit of profits and buy back in cheaper. Add in a double-top for the awesome-indicator and you have some good reasons to...

tcormier321

Looks like time for ETH to correct. Yes this is on a 1H timescale, but very clear H&S forming on the timescale. But visible on other timescales as well. 2H 3H Throw in some RSI divergence and you can see the bulls are worn out on ETH. Time to close your longs on ETH. Don't hope for more profit, but you can set stop orders around $1,050 so you don't miss...

tcormier321 Updated 

The width is about the same as it was int he previous channel when it broke resistance and turned it into support. Watch for $936 to relong with stop losses set generously low at $820. There may be some oscillation sideways at the $928 level before moving up to $1,000 by the end of the week.

tcormier321

My last post on BTC was bearish, and it isn't showing a lot of strength, but there's some good indicators to go long if it breaks 15.5. MACD and RSI are showing bullish signs, and a new resistance trend line appears. BTC has also broken the long term bear trend line from the previous high. Why I would be cautious about confirming is it is dancing along the new...

tcormier321

NOTE: I am not actively trading this. I don't like to short bitcoin, so I move out of it when I am expecting it to go down, this is just my thoughts on its presence in the market at this time. RSI, MACD all sloping negative. No divergence indicators. BTC is trying to break back above the bottom of the previous descending triangle. But lots to indicate it isn't...

tcormier321

In my past idea, I told you to expect this breakout, which quickly broke the past resistance and has retraced half way to the target price of $935 (). This past resistance level is now acting as support for the ascending triangle to break past resistance at $850. If it doesn't break $850 on this run, expect it to fall back into the previous channel and be testing...