The spike failed and the trickle down trade is finally making a move to break the consolidation.
The lower timeframes did a shakeout this morning on "Bullish Friday." Good tradeable prelude to the last push to 1100.
Pump and dump or will it last? A few cents above or below $6.00 will decide very soon...
When exploring markets for potential (tradeable) inefficiencies sometimes finding none is just as interesting. Americans used to be able to trade the USDCNH on FXCM before they got taken down. The dollar/yuan cross has remained interesting for the last couple years but has been somewhat non available to US forex traders. I wanted to look into the possibility of...
Back on December 20th, before the wild run, I put out a video on how to hedge existing Bitcoin positions and potentially bank some bonus profit on the premium between the spot price of Bitcoin and OKCoin 3 Month futures contracts. Now the trade has come full circle from drawdown at the top of the bubble, to mean reverted expectations, to bonus profit on the...
Is the weekly breakout on Oil futures going to continue? A strong iMTF resistance is setting up at 54.68; the halfway of the spike down from Tuesday 1-3-2017. It will be interesting to watch at this level.
ABT as a more aggressive Weekly resistance play to hedge against market going bearish in ABT's time til earnings
SBUX held weekly support with timing. Clear where it may go to black cross iMTF resistance in the run up to earnings
BMY would be on a run up to Weekly resistance off a Daily breakout pre-earnings
Using the new iMTF indicator to find levels in the past I can superimpose the major levels from the 2013 move to see where price is going. I only just began using this but the major levels of 781 and 691 were already written in the 2013 major run price action. The next levels are going to be 856 and then 963. Wait and see...
Instead of breaking down short on the daily as I saw last week over the weekend on the swing timeframe 240 minute BFXUSD is breaking out long. I did some research last night to get a grasp on exactly what the "value" of BFX tokens should be. Assuming that Bitfinex does not get hacked again, remains solvent, and repays their customers as promised then each...
A bearish Ichimoku cloud breakout is setting up on the Bitfinex repayment tokens. A bearish trend could form on the break of the consolidation which has a bottom around $0.50 and could retrace part of the premium move since inception. Lacking more data the best retracement would be the 61.8% Fib which matches with the immediate rally highs. Keep an eye out
Everyone says that Comey moved the market on 10-28 but two days prior it held Ichimoku Resistance. Then it only "tanked" to the halfway point between Brexit bottom and high of the year. Everything is in the charts.
The price action I outlined in my last post is following my plan. Price came off the highs around $630, down to $600, broke $600, and is now coming back to test the level as resistance. Price action here on the Daily suggests moving down to the lows. The move could be slow and take into October. Ultimately this is a battle on the weekly between the Tenkan Sen...
After pulling back off the hit of $600 Bitcoin is battling a veritable "line in the sand" of resistance of $615. This line makes up the halfway point of the sharp down move of 9-11. Holding or breaking the line will determine price action over the next few days.
Trade followup I took half off at my first target of $600 for a good $25 move. Now at this support we have to see if price will hold or breakthrough. If it breaks through I would expect a pivot to occur before going back down to retest the range lows. The next support would be at the Monthly 9 period Tenkan Sen of $570. Longer term forecast I've mentioned...
With this move up after a long period of nothing I am making a call for price action... Projection What I expect is a pullback to $600 through 9/15. Now that price has popped up quickly it is still not a sign of long term bullishness. In fact, the move was too sharp to be indicative of a real sustained trend to turn the Daily into bullish territory. Price...