JamesBrown

JamesBrown

There are many bearish signals adding up all at once on the hourly time-trame. Moving averages, recent trend-lines and price structure suggest that the sentiment is "down-trend". On top of that, we find some nice confluence between price resistance zones (yellow boxes) and important fib-retracement levels of the most recent price swing (61.8% and 78.6%, specifically).

JamesBrown

Nearly matching highs after a long correction with pretty decent mirroring between descending and ascending periods (within the "cup"). Price has already retraced 38.2% of the cup, which measures the total retracement off of the all-time high (ATH). The fact that price tested major structure support at that level is supportive of the possibility that the...

JamesBrown Updated 

Check out chart for details. Summary: wait for price to break through major support then short on re-test. Target the essentially un-tested (tested by three daily candle wicks) previous all-time high breakout area.

JamesBrown Updated 

Price closes above that median (red) line on the long-term pitchfork.

JamesBrown Updated 

This long trade may take a while to set-up and it may never come into fruition. However, if price does reach point D of the Cypher pattern shown on the chart, then we have a play. I don't see a lot of structural support for the trade (not too much horizontal price support at point D), but I still see it as an attractive trade since I'm bullish on gold in the...

JamesBrown

Picture is worth a thousand words.

JamesBrown

Cypher completes if price reaches D without invalidating the pattern (trading above 1.414 of XA). Thanks for playing :)

JamesBrown

Here, we see a Bat pattern that might come into play and a shorter term Deep Crab that is very nearly triggered. The two patterns taken together form a relatively tight "potential reversal zone". Targets are set at 38.2% and 61.8% of AD for both patterns.

JamesBrown

If trend-lines are broken, look for a new bear market and tests of the recent lows, before start of a major...MAJOR, bear market, IMO.

JamesBrown Updated 

Trendline before the "bump and run" pattern (steeper trend off of previous trend, price returns to earlier trendline, likely dipping below it momentarily) is one target. Another is a butterfly (harmonic pattern) completion at 1.272 of XA. Monero could become a long candidate at either of those two levels, with some confirmation.

JamesBrown

Monthly RSI divergence. Price trading outside of long-term price channel (dating back further than 1987). Price tested the "supply (overbought) line" to the mid-term price channel (dating back to 2009) and got rejected (red arrows show past and present rejections of this line). We are due a big bear (recession) market. Look to the bottom of this huge long-term...

JamesBrown Updated 

Overbought. Look at chart for the reason.

JamesBrown Updated 

Double top formation with relatively deep correction, now testing the 0.618 retracement, with 20 SMA and horizontal resistance confluence. Also a bearish 50/20 SMA cross-over.

JamesBrown

Target 1.618 to 2.0 of the "cup" after breakout.

JamesBrown Updated 

Seems like a logical place to take profits. One may also wait for a close outside of the current price channel as confirmation to sell.

JamesBrown Updated 

Pattern highlighted with traditional target from breakout. Target is the distance of the reaction high (regional all time high) to reaction low within the diamond pattern, subtracted from the breakout of the pattern.

JamesBrown

A look at two possible scenarios that would give decent short trades. The risk could certainly be made smaller for reward/risk profiles of 4, or better, and still be reasonably high probability trades, IMO.

JamesBrown

On Chart.