DOGECOIN SHOCKED!!!!Dogecoin price analysis is bearish today.
DOGE/USD retraced to $0.06 earlier.
Slight selling pressure returned over the past hours.
The dogecoin price analysis is negative today because of the recent sharp loss and the overnight retest of the previous bottom at $0.059, which was quickly followed by a move higher. As a result, DOGE/USD is now likely to see more resistance below $0.06 and look to decline much more.
Over the past week, as the retracement from the $0.068 prior high began to conclude, Dogecoin price movement has gradually built c above $0.059 level. Due to this, DOGE/USD began to trend laterally, reaching a fairly small trading range at the end of September.
From there, a brief increase in price led to $0.63 resistance, where a sharp decline in price immediately followed. Since then, DOGE has progressively retreated to the $0.059 support level, where additional selling has come to an end.
The current Dogecoin price analysis is pessimistic.
Rollercoaster
#DOCU nice #Rollercoaster short today#DOCU nice short at the open using W5T Rollercoaster indicator on TradingView. Framed the chart on a daily channel, marked out the gap (body to body not wick to wick just my preference) dropped it down to a 5 min chart
using W5T #BITS indicator to locate trades inside the gap. There were 2 nice trades $25 and $13 possible plays going down and one up.
#AMRN quick 5th wave short today!#AMRN quick 5th wave move short on a 15 min time frame. #BITS indicator confirmed entry with stochastic crossover at the 4th wave point and retest of the 6/4 moving average line. $1.60 move on a $6 stock is a pretty darn good move!
W5T Elliot Wave, BITS, Rollercoaster working together today!I framed this chart with a 60 min channel, dropped down to a 15 min chart, and used our BITS indicator to find a great move. Added on Rollercoaster and found another confirmation this was a great trade. Isolated the wave count and found a nice 5th wave move during this trade. Dropped down to a 5 min chart to find my precise entry.
Grading a trade with W5T Indicators Running through the process of framing your chart, grading a trade, and taking signal entry locations. BITS confirmed a great trade with 9-11 yes reasons to take the trade and only 1 maybe/no reasons. Nice 30 plus point move 120 ticks. Reach out if you would like a personal live stream demo of these indicators.
5th Wave move follow-up on ES!Using the W5T Elliot Wave, BITS, and Roller Coaster indicators found a nice 22 point/88 tick short move today. I posted a previous video giving notice of the possible move, here is the completed move with analysis of why I took it and when the entry looked right to me.
W5T Rollercoaster indicator nails a 112 tick move on ES globex W5T Rollercoaster indicator nails a 112 tick move on ES globex open today. Our BITS indicator confirmed the the signal from Rollercoaster as well.
Easy Elliot Wave move in 10-12 min for 50 plus ticks profitUsing our W5T Roller Coaster, BITS, and Elliot Wave indicator picked up a super nice 50+ tick move in 10-12 minutes. Check it out!
HAL - Question answered on direction of Haliburton Here is my normal "grading a trade" mental checklist to see where we are. Weekly and Daily are wave 4 pullbacks and should gap down at the open for a 5th short. Resistance the last time at the center channel line was for 12-trading days before it finished it's drive to the top of the channel. This daily channel has been respected the last 29-months. Just my opinion and not trading advice for anyone out there reading this.
200 Point ES1 drop predicted a week ago almost to the tick! Nice 200 point drop in the ES that John and I predicted 9 days ago almost to the tick. If you aren't using high time frame channels to frame your charts you are missing out on really big moves! Check out Trading Views auto fib and anchored VWAP indicator. The W5T Roller Coaster indicator picked up some nice 400 tick moves on the way up. If you follow my Wednesday webinars at 7pm here on Trading View you will see how to grade a trade and last night I said I would not take that 5th wave move and it failed just like I thought it would. You wouldn't know that if you didn't grade your trades. Big shout out to John Garland for helping me figure out these levels and POC point of controls.
Did W5T Indicators give a early signal before 6/5/20 NFP report?I was asked by a fellow trader if the W5T indicators on the Trading View platform gave an early signal before the NFP report on 6/5/20 8:30am Eastern. Our Roller Coaster indicator caught the potential move and alerted to a long opportunity. In this video I went through how to grade the trade if I would take it. 6-7 reasons that said "yes" to going long and 0 or maybe 1 that said no. Very good trade that has kept on giving. Be careful!!!! Supply zone is right above us.
All ideas and comments are for educational purposes only and not trading advice - CYA policy
ES Long term channel & possible 4th wave pull backQuick run down on ES today. Long term daily channel has been respected almost to the tick. Last 10 trading days has not broken the center channel line. 15 min chart shows a possible 4th wave pull back right now. Keep an eye on it. We are above the 6/4 moving average makes me look twice. I don't like trading the day after a holiday. 5 Min Roller Coaster W5T indicator is popping off some really nice trades and "In the Groove"
ES 4th wave pullback right now, keep an eye on it!4th wave pullback on ES right now 5 min and other time frames. I would wait for a further dip to the 1 hour channel bottom before my entry up. Nice W5T Roller Coaster wave 3 up and wave 4 down. Not trading advice - educational purposes only
W5T Elliot Wave I would not takeHad someone ask me about this potential move on ES 5 min chart. I wouldn't take it because of the lower volume, Fib 90/140 was way violated, and just don't have the "feeling" of it today. Maybe I'm wrong, but I would stay out of this one for now. It might pull deeper and produce a better picture or it might not!
Roller Coaster Update from tonights webinarI was explaining tonight why I wouldn't take a Roller Coaster short signal on our W5T Roller Coaster Smart List subscription that scans 21-22 symbols on 7 different timeframes for breakout trades. This is a follow up to that webinar showing it did drop to the channel and a little below as I thought it would. It needed to touch the bottom channel line first that is based on a 240 time frame on a 5 min chart.
Possible 5th wave down...again!Update on earlier post - keep an eye out on a deeper dive 5th wave down
Update on W5T Roller Coaster Indicator moveI just posted an Elliot Wave video on how to grade a trade and spotted a Roller Coaster move that went 15-18 ticks positive during the video. Check out where it is now!
Grading a trade with W5T IndicatorsRunning through the process to grade a trade using our W5T Elliot Wave, Roller Coaster, and BITS indicators.
Elliot Wave played out perfect this morning!Nice W5T Elliot Wave move on ES short 10 min time frame. Our Roller Coaster indicator picked up the 3rd wave move down before I got up early today. I got out a little early, but a great trade for 20 ticks profit. I left 12 ticks on the table, but hey a winner is a winner.
W5T Roller Coaster picks up nice 100 tick move on ES in 30 minW5T Roller Coaster indicator picks up nice 100 plus tick move on the ES this morning in 30 min with 2 - 15 candles.
Forex EURUSD vs Futures 6E ShortWithout getting too technical on lot sizes for forex and contract sizes for futures contracts. The fact remains that the Forex EURUSD pair and be traded with the futures 6E contract.
I personally trade futures rather than forex as I can trade either the Futures Emini contract 6E. Or, if the risk is too large between entry and stop using our Roller Coaster Indicator suite, I can switch to the micro contracts which are only 1/10th the value of the normal 6E. This versatility allows me to get in more currency trades, than if I were just trading the Forex EURUSD pair.
This chart is an example of our Roller Coaster Indicator Suite for the trading view platform with the 6E contract on the right chart and EURUSD on the left chart. Both 15 minute charts! As you can see the behaviour is very similar.
Concentrating on the right hand chart, the 6E contract, the Stop is approx 1.08500 and Short Entry 1.08200.
So for the main 6E futures contracts that is 60 ticks Risk and at $6.25 per tick, that's a Risk of $375 for 1 contract
Now for the Micro contract, that's only 30 ticks Risk and at $1.3 per tick, that's a Risk of $39 for 1 contract. ( Micro 6E contracts do not have the half point values like the main 6E contract).
So if $375 is too much Risk, then maybe 3 micro contracts, giving a Risk of $117 would be more suitable for traders.
This is just an example of how versatile futures trading can be for currencies, instead of just trading Forex. Our Roller Coaster Indicator Suite is very powerful, but sometimes the risk seems a little high when traditional Forex trading and this alternative, using futures emin and micro contracts, should be worth exploring for serious traders.
This particular trade was a 1:2 winner and I traded 5 Micro Contracts, Risk $195 for a profit of $390, Which isn't bad for 3 hours in the trade. Yes I could have won twice that with 1 normal emini 6E contract, but the Risk was too high for me as I had 2 other trades on at the same time with Gold and one of the indexes.
I wrote an article on our blog, back in February, discussing the Roller Coaster strategy , Getting in the Groove and Risk management, you may find interesting.
