Bitcoin: BTCUSD Over Thanksgiving Entry Points for some potentially big trades ahead: neutral in near term ahead of the action Hoping you'll have got out of longs when that pin bar mentioned in last update coudn't be beaten. It was likely a serious player in a low volume market who knew what he was doing at an inflection point with good timing - on a holiday, but...
Silver: XAGUSD Look to Buy Dips It's just about bearish enough to go long here. But no one seems very interested. It's likely to need the dollar to break below it's lower parallel (see DXY comment for back-up to this trade) before interest picks up here. One thing it has in its favour is those pin bars forming off the dynamic support shown on the chart. It's...
Brent Crude OIL UKOIL Trade Set-Ups for this Week Position: Flat - Just didn't trust this short after it bounced at 61.70 first target and then started to build a near term low at 61.33 so closed out the short for just over 100 pips after spreads, as per updates to last comment. Disappointed at the time to close out a trade that had stopped behaving according...
Brent Crude OIL UKOIL Trade Set-Ups for this Week Position: Flat - Just didn't trust this short after it bounced at 61.70 first target and then started to build a near term low at 61.33 so closed out the short for just over 100 pips after spreads, as per updates to last comment. Disappointed at the time to close out a trade that had stopped behaving according...
Bitcoin:BTCUSD It's made a break above the small parallel and run into the first line of profit takers and sellers and so far holding up above that frustrating old dynamic. If you've gone long on the break above the parallel please raise the stop to right under the old dynamic - say just under 6575 - for maybe break even if this gets slapped back hard again. So...
Bitcoin is now approoaching important resistance again at the break level/original shorting point from yesterday, at 6445- 6510, with the additional problem of the old dynamic support line that propped up the rallies from the summer lows hanging above it 6515. So it's a near term short for day traders from 6510 with a stop 50 points above but only back to 6300,...
BITCOIN: BTCUSD Update on Positions Not a bad day, so far but need to keep an eye on this short still...day-traders have made 250 points from the short from 6300 early in UK morning, then another 200 to 450 points from the long at 6050 just an hour later, depending on where you took profits and now we're short once more from the highs of the day at 6450 with...
BITCOIN: BTCUSD Update on Positions Not a bad day, so far but need to keep an eye on this short still...day-traders have made 250 points from the short from 6300 early in UK morning, then another 200 to 450 points from the long at 6050 just an hour later, depending on where you took profits and now we're short once more from the highs of the day at 6450 with...
Bitcoin BTCUSD Update Too Whippy Got stopped out around even at 7060 this time. Still unconvinced by the rally attempt and looking at that pattern it should fall much further still. Yet, we've seen how tricky it is selling now, with two pin bars on the 2 hour chart, so although bearish this area here between 7137 resistance and support at 6935 is too full...
Bitcoin: BTCUSD Got to sleep sometime unfortunately. Sure enough Bitcoin made its low at 6928 after making an initial low off the lower large parallel and bouncing it then came back to make a double bottom low at 6928 before doing what it was meant to...bouncing up to test the upper contolling parallel. Annoyingly, after trying to avoid getting stopped out of a...
USDJPY A battle royale is raging between these two heavyweights, caught between the lines of near term support and resistance shown on the chart. The fight could go on until Thursday at this rate when one of those two lines should finally give way... It's OK to buy at 113 (with a stop no more than 20 pips away) but would still go flat again at 114.30-114.50 as...
GBPUSD: Sterling is holding up well as UK enters final week of elections. Whichever way it snaps from here will be worth trading.
BITCOIN: Bears can't win yet until they can break 2225-2215 and then 2180 below there. But neither can the bulls unless they can take 2350 out. One way or another, if you're patient enough, this is going to break and if it happens to be to the upside it should be worth following