Ian_Carsen

Ian_Carsen Updated 

Hi friends, as we can see, bitcoin slammed into resistance and the top of its current channel hard and was repulsed. I'm looking for this decline to be stopped at either the lower boundary of the downtrend channel (it is not necessarily "correct" as drawn since there were few points to go on.) Or on that highly reliable logarithmic line. A breakdown of the uptrend...

Ian_Carsen

With recent dollar strength and treasury weakness, commodities are taking the hit. Here we have a classic bear flag in Gold A longer-term chart shows Gold in a large rectangular consolidation inside an ascending triangle (triangle on the weekly chart). A break of the bear flag should take price to the boundary of the larger rectangular consolidation, where price...

Ian_Carsen

The Dow Jones has been technically accurate. It is printing a rectangle, which is either a continuation or reversal pattern. Aggressive traders may wish to short at the top of the rectangle for an expected continuation breakout below toward the strong support and price targets below. Otherwise, trade the breakout, whichever direction it is (up is always possible).

Ian_Carsen Updated 

I jumped the gun last post. The triangle has developed further and is nearing the time when a breakout will occur (10-20 hours). This seems to be an excellent trade opportunity. (Note: I have not yet attempted a trade using this formation, but am eagerly anticipating it. In fact, last touch of the line I would have gone long if the XBT futures market was not...

Ian_Carsen

I jumped the gun last post. The triangle has developed further and is nearing the time when a breakout will occur (10-20 hours). This seems to be an excellent trade opportunity. (Note: I have not yet attempted a trade using this formation, but am eagerly anticipating it. In fact, last touch of the line I would have gone long if the XBT futures market was not...

Ian_Carsen Updated 

Bitcoin is currently in consolidation. The ascending triangle is traditionally supposed to break to the upside, however, I have noticed a number of opposite side breakouts as well, including the recent bullish break from a massive descending-like triangle on the daily. In either case, on the break there should be a good trade opportunity, although the move will...

Ian_Carsen Updated 

Ladies and gentlemen. As you can see, (with a logarithmic chart) bitcoin is in the process of forming what resembles a massive descending triangle. As the full $ target indicates a bitcoin price below $0, I've used percentages to indicate the full target, which corresponds nicely with strong support at $1830. This image shows the target , I could not figure out...

Ian_Carsen Updated 

My Technical Analysis: I have been fairly bearish on equities since slightly after the recent highs but before the massive declines which made headlines around the globe. I have been anticipating more bearish action, and suggesting that the current counter-trend is merely a pause before the carnage continues. During the process of planning to purchase put...