DamianRichardson

DamianRichardson

The technicals on here have worked before in other bullish types of runs. In our case now, there are some overhead resist points but I'd rather use the fibonacci trend extensions and close parts of my position and move my stop higher. Entry is at the 9 period moving average and I plan on selling each portion of the long position at 1/6 at 390 1/6 at 435...

DamianRichardson

There are several technical factors working against BTC-Bitcoin right now The trendline is broken. I put out a blast saying the trendline would need to hold, but it is not holding. That is the main reason why I am bringing this to everyone's attention. There have been times when a trendline like this held in spite of having a daily close penetrating below...

DamianRichardson

Neutral Post I thought I would highlight all of the arrows on the side that are pointed to the right which show price coming in close contact many times with the upper band. Its useful in gauging the trend and confirming the upside momentum There is a subtle blue trendline which held for support to some degree and maintained that angle, if it gets disrespected...

DamianRichardson

This trade is based on the premise that his past daily candlestick might have back some ground to provide a buying opportunity. The technical tools we are using involve a fibonacci trend extendor. We took the base of the rally from 11/25/2017 and extended it to the first severe retracement from last week and extrapolated it into where it might be a good idea...

DamianRichardson

In all honesty the trade I set was never triggered, its just that bullish Any possibility of a pullback to 1.30 or just slightly higher is fine for me but the enthusiasm is still in firm control of momentum. But as you can tell by looking at the key profit objective it is nearly met on this time frame. The nature of this rally is subject to some pullbacks...

DamianRichardson

For those of you who know how I trade I tend to put together a few technical factors. I do see some trend following which is bullish for ripple and here are my reasons why. What kind of potential does ripple have here? I have not identified this chart pattern as a bona fide bull flag but some of the principles still remain. The drops in price will be...

DamianRichardson

The way breakouts typically function is with measured moves as a way of determining how far price will move until it reaches its climactic point of selling. In this case, I measured the range of the top to bottom in our past 5-7 trading sessions and determined that 2659 would be a decent level to cover some shorts or initiate a long day trade idea. Heres why,...

DamianRichardson

Hi everyone last week I posted a key level of 11441.65 as a potential bounce target and it was near perfect. Price just ripped off that level and even though I did it on a much higher time frame it still acted very well in spite of the depth of the sell off. I am neutral now because of how intense the selling pressure was but I am willing to entertain the idea...

DamianRichardson

AAPL was hit with professional selling pressure creating a gap on the weekly time frame. We would calld this a professional gap. And with continued closes on the weekly time frame below this would confirm the staying power of this move. There are several themes to this chart. (1) the nature of the bands In upward sloping technical environment AAPL would...

DamianRichardson Updated 

The yellow shaded zone was widened to indicate (1) a jump off point from the base/consolidation into a price territory where the price of sugar started stalling. Also the top of the rectangle shows where some sellers started to press down. This is not technically a series of lower highs yet, meaning on every rally they sell but the pattern is emerging. I...

DamianRichardson

Typically in technical analysis we tend to look for patterns in retracements to work as references for (1) how deep corrections can get, and (2) if buyers have memory when will they act, and create those volume spikes which send price up. Trader and investor behavior is just like other asset classes and in our case here we want to anticipate where the big...

DamianRichardson

As I write this AUDJPY is at 87.351 The profit target here is flexible, but you see that based on the projected trade the amount risked is very small compared to the reward which is 125 pips, that means for the 20 pips of risk there is enough air to move AUDJPY to 86.321. I don't recommend any more risk than 20-35 pips because of how strong it was currently. ...

DamianRichardson Updated 

This is a long strategy in the Yen. You could see in the chart that the idea was to revert back to the mean in the central band. I typed some more info on the logic behind this trade in the comments section. I am still new to this website so there will be more improvement to come in time.

DamianRichardson

I think this has a higher probability of working because of the already established selling from this past day's candle (daily chart) and the target is within reach. I have a good risk/reward ratio on this trade and price is set to an area where the are active buyers. I will follow up this trade with further analysis and reasons why it did work or not.