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January

Monthly Review - January 2020 - (Also small rant on Tradingview)Overall, I had a break even but productive month in terms of education and trading development. Some notable trades were CGC long, INTC long, NIO long, CRSP short, and FTNT long. Although two of those trades had stopped out early, overall execution and lessons learned from those trades were valuable. I noticed I started off this month pretty sloppy, however I gathered my focus and closed the month strong with good discipline. The overall markets have been pretty tricky towards the end on the month. The beginning of January started as a repeat of the previous 3 months - strong momentum and directional market. In these market conditions, breakouts worked well and it was a time to get aggressive on long trades. The last 7 trading days of January was marked by choppiness and my overall bias right now is neutral. "Bull trends are innocent until proven guilty" and although the short term momentum looks bearish, the upward bull trend is still valid and we are still above the 50MA on SPY. Now is the time to slow down, sit tight, and start to look for possible short setups if markets do start to reverse. This is my first month since deciding to produce trade journals on Tradingview. I've tried trade journals in the past, however I did not feel like I was gaining any value from them. I like Tradingview since you can update your journal as the trade develops, which I find really smart and intuitive. One negative thing about Tradingview, which I find kinda annoying, is all the "Advertisers". There are a lot of Forex and Crypto traders who seem to be "Agreeing" with every single idea posted on Tradingview (Including my US Stock post which they seem to not even trade). I believe their goal is to get people to see their profile and to promote their website/paid subscriptions. Their analysis is very "Flashy" AKA lots of colors and indicators, which typically is not a good thing for long term success. I can see how this can be profitable, but I believe it's doing a big disservice to the development of the actual Tradingview community which seems non-existent IMHO. In the future, as well as developing as a trader, I plan to continue using Tradingview as my journal and maybe some ideas once in awhile to help me organize and vocalize the trades I might want to put on.
AMEX:SPY
by Trader_Kaji
7825 - the last chance for a buy-in.I guess 56 hours of non-stop analysis payed off in a form of followed 56 hours of pleasant observation, of how the forecast predicts with 95% precision all the price movements))) Now this is the time for the bulls to get into play. Probably on Monday, or even in the following 4-5 hours we will observe a huge price. A lot of confirmations kicked in, time to buy, baby. The last chance) See al the divergences. The bears have lost their power for good! 7825 - the last chance for a buy-in (expecting a small dip(1-2correction), but may just be rocketing right now, right to the moon!) Always yours, orb.
COINBASE:BTCUSDLong
by orbborisson
True Bitcoin bottom? Here´s an ideaAs the chart is pretty self explanatory I will be brief. As we all know the one true "pillar" of TA that has stood the test of time is that resistance becomes support and support becomes resistance. Almost always. The higher the time frame, the more likely the price action will follow this rule. Based on this, I have drawn several trend lines that lead me to believe that we have still not bottomed out and in fact have some more downside ahead of us. In light of this, here are my price action predictions, accompanied with some fundamentals: Short term: we will 100% have a move up, the RSI is stupidly overextended to the downside and while we may have some more room to fall I expect that once we hit 5, 5.1k a bounce for Bitcoin and the whole market is inevitable. We may have a rally to 6k but since it was such a strong support it is highly likely we won´t be able to break it. Mid - term: 5.8-6k was a very important support that held for literally the entire year until now. Because of this it is likely we have not seen the bottom yet. Once a mayor support level breaks (and we had a very very decisive break) a mayor sell off occurs in the next few days and weeks and severly shifts the bias from neutral/bullish to bearish. Based on this chart I expect we will bottom out at 4 - 4.5k. Note: remember that christmas and the holidays are coming, which usually means a lot of money flows out of the market. This goes hand in hand with the above posted analysis. Long term: Extremely bullish. Accompanied with the fundamentals (Bakkt, ICE, possible ETF) and the chart I think that by February 2019, things will start to explode. To the upside. Make sure to buy as much as you can of everything until then. Will try to provide another piece of evidence as to why I believe we have some more room to fall later. Thank you.
BITSTAMP:BTCUSD
by Bluewhere
1
NZDUSD Jaunary 2017: Bear will take 6950 low.Talking Point: Technical Strategy : Bearish Elliottwave View : Bear count confirmed Analysis From our last December's analysis on NZDUSD (New Zealand dollar vs US dollar), nothing much changed. We are on bear trend count and able to break and trade outside corrective channel. From last analysis and trade signal on which we earned +138 pips from shorting this pair @ 0.7035 and booked profit @ 0.6897 on cautious trade during holiday season. Same time, we were expected bounce from channel support which can be counted as a sub wave 4 or sub wave 2 of wave 3 of larger downtrend wave. During our today's review on count, we are on very much sync from our last analysis. We got a bounce and had a nice "Dark Cloud Cover" candlestick pattern. This pattern is also sync with our elliott wave view. This is good position to decide on trade and it's strategy to enter and exit from trade position. Action We re-initiated our short position with 0.6990 level and targeting below 0.6800.
Short
by Hittesh