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Wave2

Learning to stay ahead of market trends - 2023 & BeyondFollow my research. Learn why I expect 2023 to be a very difficult year for active traders and how you can avoid all the risks by modifying your capital allocation levels RIGHT NOW. You don't have to stand in front of a freight train or try to force trades when they are not opportunistic. You could just wait for the better setup in July/Aug 2023 and ride out Wave-3. Do you want to gain profits or just try to gamble your capital away? Sure, if you are a day trader, you may be able to trade some of the bigger price swings over the next 5+ months. But, most of the price action is going to be in ETFs and select US stock sectors. Learn to position your trades to capitalize when opportunities are the RICHEST for success. Wave-1 has nearly ended. You are trying to catch the last 5% to 7%+ of an uptrend before the US markets will slide into a Wave-2 correction. Are you sure you want to risk a boatload of capital at the end of Wave-1 right now? Knowing when to trade is important. Knowing when NOT to trade is even more important. Make sure you are getting reliable information, content, and research. Trading is not about trying to be the next zero-Billionaire in 25 days - it is about surviving and growing your accounts over the next 5 to 10+ year efficiently. Follow my research.
AMEX:SPYEducation
by BradMatheny
Bitcoin: Bullish Engulfing Candle Establishes New Long Setup.1. We focus on price action, levels and probabilities. News, drama, and other non order flow related information carries little weight in our decision making process. I have been explaining that the probability of this overall location favors bullish reversals which is why we did not exit our swing trade long in the face of bearish order flow (see 7275 to 5464 support zone). 2. I made this point in my previous article: "Can Bitcoin test lower prices? Anything can happen, BUT price would have to close below 6850 in order to prompt a retest of the 6550 reversal zone boundary. Any bullish reversal pattern in these areas would offer compelling swing trade and position trade opportunities based on the criteria of our strategies." Yesterday's bearish candle was NOISE and nothing more than a lure for short liquidity. 3. The bullish outside bar (engulfing candle) establishes a HIGHER LOW formation off of the 6900 level. This can be the very beginning of a broad Wave 3 IF 6450 is not compromised again. Higher lows often lead to higher highs. 4. Within the 7275 to 5464 support zone, there is now an inverted head and shoulders formation. This is a large magnitude reversal pattern that has developed within a location that favors BULLISH patterns. 5. In order to see momentum follow through, price needs to close above 8K. IF such an event unfolds, 8500 and the low 9Ks are likely to be tested with hours or days (with the help of all the small time frame short margin liquidations). We are maintaining our swing trade long and patiently WAITING for price to reach our proportional targets (mid 7Ks, mid 8Ks and low 9Ks). We focus on price action as it relates to levels and probabilities, nothing else. I hope you found this update helpful for your own analytical process. My goal is to provide market context, perspective and an idea on how we manage our trades in this environment.
BITSTAMP:BTCUSDLong
by MarcPMarkets
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