MDegenMonkey

MDegenMonkey

Hi all, TRX has been in a downward channel for some time now, with low buying power (as indicated by the green Aroon Up line). Let's take a look. Levels to watch, indicated with orange circles: - RSI: might form bullish divergence if it bounces off of the green line, while also breaking through 30 (thus, moving from oversold to neutral = bulls getting more...

MDegenMonkey Updated 

Hi all, LTC has broken out of the downward wedge/channel on the daily chart and retested the upper line. Combine this with the bullish divergence on the RSI and OBVOSC_LB, and a pretty bullish scenario arises. I'm buying here, with the .382 fib retracement level as first target, and stop loss just below the lower channel line. Comments and feedback are...

MDegenMonkey Updated 

Chart is self-explanatory. Waiting for validation of pattern to short.

MDegenMonkey Updated 

Hi all, VEN seems to be in a free fall since July this year. Since we broke down through the 0.618 fib retracement level, the first support in sight is the 0.786 fib retracement, coinciding with a support from December last year. I'm looking to load up on more VEN in the green areas. In the meantime, watch the oscillators (I like OBVOSC_LB and RSI) for signs of...

MDegenMonkey Updated 

Pretty self-explanatory I think, shorting here with SL just above 6670.

MDegenMonkey Updated 

Hi all, This is far from the first IH&S chart you'll find on here. However, I'd like to add my opinion by comparing some of the pros and cons of expecting an IH&S: Pros BTC is testing RSI40 as a support. Successfully turning it into a support would mean the bulls are getting more control in the market. The way the IH&S is forming, the shoulders would...

MDegenMonkey Updated 

Throughout the past, the RSI level of 40 has been a strong resistance/support. Every time the RSI either strongly broke through 40 (see April 10th this year for bullish example) or went through 40 and then turned from support to resistance or vica versa (see December 16th for a bullish example), the price reacted strongly. The 10th of July, the price broke down...