Get started

Market Geometry

REGULAR RHOMBUS AT THE PIVOT LINE OF RECTANGLE RANGE (UPDATE)(This is an update to one published earlier. The rhombus on this chart is bigger than the one drawn on the previous one) The regular rhombus is a powerful reversal pattern taught by my mentor Rodney Ahenkan (Papa Smurf). I tend to look for it at reversal areas, especially at the pivot lines and support/resistance areas of the RECTANGLE STRATEGY (again as taught by Papa Smurf) On NZDCAD , I see it has lined up nicely. There are quite a number of indications for a reversal at where price is currently: 1. Price is at the pivot line of my RECTANGLE (the blue line on the chart). The pivot line is a potential area of reversal. If price fails to break below it, then it would likely return to the top of the RECTANGLE . 2. The formation of the REGULAR RHOMBUS (a reversal pattern) at the PIVOT LINE of the RECTANGLE (a potential reversal area). 3. The PIVOT LINE is being tested for the third time. The previous two times, price was pushed back up. 4. There is a clear MACD DIVERGENCE. All these are powerful technical indications for a possible price reversal. On the FUNDAMENTAL side, there are 3 red-folder news releases for NZD at 1:00 am this morning, to be followed by an RBNZ Press Conference an hour later. I would therefore wait to see what price does AFTER the news releases. If it agrees with my analysis, then we're good to go. If price does break and close above the first triangle, we take 3 trades, one each for TP 1, TP 2, and TP 3.
Long
by Pesokia
1
REGULAR RHOMBUS AT THE PIVOT LINE OF A RECTANGLE RANGEThe regular rhombus is a powerful reversal pattern taught by my mentor Rodney Ahenkan (Papa Smurf). I tend to look for it at reversal areas, especially at the pivot lines and support/resistance areas of the RECTANGLE STRATEGY (again as taught by Papa Smurf) On NZDCAD, I see it has lined up nicely. There are quite a number of indications for a reversal at where price is currently: 1. Price is at the pivot line of my RECTANGLE (the blue line on the chart). The pivot line is a potential area of reversal. If price fails to break below it, then it would likely return to the top of the RECTANGLE. 2. The formation of the REGULAR RHOMBUS (a reversal pattern) at the PIVOT LINE of the RECTANGLE (a potential reversal area). 3. The PIVOT LINE is being tested for the third time. The previous two times, price was pushed back up. 4. There is a clear MACD DIVERGENCE. All these are powerful technical indications for a possible price reversal. On the FUNDAMENTAL side, there are 3 red-folder news releases for NZD at 1:00 am this morning, to be followed by an RBNZ Press Conference an hour later. I would therefore wait to see what price does AFTER the news releases. If it agrees with my analysis, then we're good to go.
Long
by Pesokia
Why Bitcoin NEEDS to fall; bad crypto press and new ideas***I am not a classically trained , nor certified financial advisor*** Before I discuss the press headlines , let's get real about bitcoin. BITCOIN has been range bound for weeks.... ; our "premier" crypto currency , that would be overpriced at 120 U.S.D. , has failed to recover from an argument between Craig Wright, Roger Ver , and the ensuing B.C.H. hard fork. I know I'm preaching to the choir for most of you, but for heavens sake, the fork didn't even INVOLVE BITCOIN, nor any of the other cryptos that were massively devalued in the run up to this absurdity. BITCOIN IS NOT DIGITAL GOLD. It is not the gold to Lite coin's silver - that's unfair to lite coin. It is the used tin foil based rudimentary implement to lite coins gold. If the crypto economy is to prosper, people need to stop obsessing over Bitcoin. STOP! Bitcoin is in a death spiral. It has been ever since the parabolic rise of late 2017 it was never designed to handle. It brought us a new form of arithmetic , PRINCIPLES - like economic freedom, privacy , and to a degree, equality. DECENTRALIZATION , which governments, the I.M.F., and World Bank are working hard to destroy . It brought us an alternative to banking across borders. No more SEPA wire transfers. It brought hope to the people enslaved by poverty in lands ruled over by chaotic, despotic rulers, and the cruelty of the World Banks and United Nations economic sanctions. THAT HOPE IS STILL HERE , AND ALL OF THESE THINGS ARE STILL POSSIBLE , BUT ONLY YOU... ONLY YOU CAN MAKE IT HAPPEN. YOU , ME , Society. So; quit reading the tabloids unless you find them entertaining. Realize that a "confluence" detector is a desperate attempt to remain relevant by a press that has let it's readers down time and time again. Study the major Candlestick patterns and signals, look back 90 days at the charts, using a 4 hour and a 1 day vantage point.... and educate yourself, empower yourself, and forget about buying something that is going to make you rich this year. Bitcoin HAPPENED already. It will not rise the way it did again, if it even survives, and we all need to demand more - that the market become less BITCOIN oriented, and this means the press, it means your peers - it means having conversations. Bitcoin is a joke! And if it is allowed, it will become the example used by the powers that be, and the oligarchy , to CENTRALIZE digital currency, and bring it into the FRACTIONAL RESERVE SYSTEM. That's where you're money is being essentially stolen from you. I have explained fractional reserve in prior articles, I will not again here. F.O.M.O.? If you have Bitcoin f.o.m.o. seek professional help. F.U.D.? This surrounds Bitcoin, is emanated by and from Bitcoin, and enshrouds the cryptoverse in a tangle of irrelevant influence because for some stupid reason, BTC still holds a tenuous grip on the rudder of the market. There are cryptos out there outperforming BTC every day - both in the sense of a wise investment or vehicle to make money on your laptop, and in "use cases." The future of money IS digital. Unfortunately the future of everything human is, for a time before we destroy ourselves - digital. Regarding the press - it's time for those of us in the know to start letting newcomers know that the headlines in the Trading view queue are akin to those at the checkout portion of your local supermarket. Fairness is an absurd concept , and to make money here we actually need sheep, i know, but the press is doing people wrong - too wrong, and also has a rudder on this market still..... - until they accept and undertake higher technical standards and abandon baseless news and predictions , people need to be warned. Lets get it done. Fortis Fortuna Adiuvat Caviat Emptor
BITSTAMP:LTCUSD
by Cryptocautious