EbonyFalcon

EbonyFalcon Updated 

I opened a short position today based on the 4H chart and daily chart price set up.    My reasonings are as follows:  Japan225 has been in the range bound since Sept 2024.  The price peaked at 42,420 area and sharply dropped to 30,480 on the 5th August 2024.  The price started to recovered to 39,150 area on the 30th August 2024.  Since then, that level is...

EbonyFalcon

My overall bias for Solana is bullish. Solan price is dropping significantly at the moment probably due to Libra token. (just my guess). I have set buy orders at $130-145 area. I don't usually buy the dip, but this might be worthwhile buy the dip opportunity.

EbonyFalcon Updated 

Short trade horizontal red dotted lines are profit target 1 and target 2

EbonyFalcon

Daily MACD is still deep in the bear zone and Solana hasn't even claimed the the previous week high.  Therefore, the overall sentiment for Solana is still bearish to me, however, in the 4H chart, I can see some bullish momentum is building up and a potential swing opportunity might be coming up soon. The things I am seeing for a potential swing trade are as...

EbonyFalcon

Fart has dropped to the capitulation zone, but it looks like it has found the temporary floor and is starting to move to the upside. If the a daily candle moves and closes above EMA 21, the top ascending trendline, and the previous weekly high, I might consider to swing trade. But Daily MACD needs to entered the bull zone and daily stochastic has to be...

EbonyFalcon Updated 

$151.850 is a major resistance and support area. USDJPY failed to reclaim the recent ATH and it is currently hovering around that major R/S area. All daily momentum indicators are in the bear zone so my overall bias is bear. When you look at 1H RSI, you can see the RSI lines are travelling inside the ascending parallel channel. I will open a short...

EbonyFalcon Updated 

I just entered a long position mainly based on the chart set up in the 4H and 1H charts. Daily (I always check daily) Stochastic has reset and is moving to the upside. 4H All 4H momentum indicators are clearly moving to the upside. The 4H stochastic has just entered the bull zone, which gives enough time for the price to move up in the 1H chart. 4H candle...

EbonyFalcon Updated 

BTC strongly bounced Monday and formed a daily candle with a massive bottom wick.  It is a bullish candle but that itself doesn't confirm the bull trend is going to start.  It was definitely the buy the dip moment for spot buyers and hodlers. However, if people are trading, the obvious stop of Stop/Loss is just below that wick on the Monday candle.  Subsequent...

EbonyFalcon Updated 

Bitcoin has been moving in the range bound for a few months now.  The market is very volatile and many inexperienced traders are liquidated. Some are starting to talk about the end of the bull market, but I can see a very bullish price set up in the weekly chart. The current set up in the weekly chart is very similar to that in Jan/Feb 2024 (see the blue...

EbonyFalcon Updated 

The price failed to reclaim the recent high at $158.87 and closed below the previous higher high. It also closed below EMA21, EMA55 and ascending trendline. All momentum indicators enter the bear zone and lines are pointed to the downside. The similar price set up happened on the 17th July 2024 (blue vertical line in the chart) and it was followed by a sharp...

EbonyFalcon Updated 

Opened a short position based on 1H and 15 minutes. 1H MACD crossed to the downside.15 min MACD endered the bear zone.The 15 min candle closed below VWAP, EMA 21, Pivot R1, and previous day's high.  S/L 159.95 and P/T 153.95    Risk: Reward 1:1.84 When the price reaches 154.5 (the previous day mid price), I will move my stop loss to  the previous day high. 

EbonyFalcon

Solana price bounced back strongly yesterday and formed a daily candle with a massive bottom wick.  It is very bullish.   It was a great buy the dip moment for spot buyers and intraday traders.  However,  if you are swing trading with leverage, the momentum is still bearish.  I think it is not the time to open a long position for the following...

EbonyFalcon

Bitcoin (and the rest of the crypto market) look very bearish. I am starting to hear and read "the end of the cycle" in youtube and x. I can see the reason why. 4H, daily and even 5D chart look pretty bearish. However, the weekly setup of momentum indicators make me think it is still too early to say the bull market is over. Please look at the blue...

EbonyFalcon

The previous daily candle closed below the previous month's low as well as the long held ascending trendline. Both 5D and Weekly momentum indicators and price action are strongly bearish. It seems that the current crypto market is heavily manipulated by market makers and it often happens on weekends when the volume is low. The price seems to drop sharply on...

EbonyFalcon

There is one major trendline that is gently sloping up in the daily chart. The price seems that it always comes down to the trendline like a magnet and is making higher high. All momentum indicators in the daily chart show hidden divergence which supports the continuation of the trend. Daily stochastic has reset and now is moving to the upside from the...

EbonyFalcon

I usually trade with two time frames. I tend to avoid to buy the dip. I rather buy the strength using momentum indicators: I just opened a long position using three time frames based on the reasons below: Weekly: The stochastic reset at 50 level and is moving to the upside - Bullish momentum building up. Daily: Both MACD and RSI lines are about to cross and...

EbonyFalcon

I use two time frames and momentum indicators to identify the timing of the entry. Daily stochastic had reset and started to move to the upside. Stochastic in the higher time frame is a signal for me it is time to start looking for an entry in a direction of the indicator in the lower time frame. I use MACD in the lower time frame. 4H MACD have crossed, is...

EbonyFalcon

My overall bias for Solana is super bullish. I like the weekly price setup. Weekly MACD, RSI and Stochastic are all showing the clear (not strong enough) bullish momentums. If you are interested in investing in Solana for the duration of the current crypto cycle, it is a good time to buy. However, if you are interested in swing trading (medium term), I...