OrcChieftain

OrcChieftain

TradingView added a new drawing tool to charts. Anchored VWAP. It is an indicator/drawing, which works similarly to volume-weighted moving averages except its starting point does not move. How to use it? Here is an interesting chart of Cosmos. If you choose significantly visible highs and lows as a starting point, the idea is that the price will react to VWAP...

OrcChieftain

After Sun's acquisition of Steemit Inc., its users rebelled and created their own fork called Hive. Right now, Steemit now censors all mentions of the new fork and tries to fight back. Will it win? From technicals perspective, I would say that we are somewhere in even grounds. However, Steem is taking the beating as it reached its long-term low. I believe it is...

OrcChieftain Updated 

Previously, ADA reacted to 200 MA on h4 negatively and bounced down. Now, it penetrated the level and stays above. I did set my S/L based on Volume Profile. Highly conservative upside target would be below another low volume profile area, but I think we will move beyond that and it is possible to take 1:3. ▬▬▬▬▬▬▬▬▬ I am recording the success rate of my analysis...

OrcChieftain Updated 

Unlike other high-caps, Link created a candle with a small tail. I am in favour of further growth till it reaches a logical level, which in this case would be Point of Control. We might go higher, but there is nothing wrong with making a profit there. Before that, since September, there has been a fast rally followed by a slow steady fall. It reached Gann's 2/1...

OrcChieftain

Vechain is in the contraction phase and draws a triangle on the daily chart. The longer such phase lasts, the bigger the breakout is. If VeChain reaches its Point of Control on the daily chart before 23rd and the move is impulsive (big candles on hourly in the direction of the trend) and supported by increased volume as well, further move upside is...

OrcChieftain Updated 

Morning! I noticed increased buying activity above low volume area. It created a sort of double bottom and is now attacking the 100MA level, where the POC also is. This level is most likely getting breached, so I am already in the position for 1:2.5 profit. It is a good idea to move the stop loss higher as we approach the low volume area where double top appeared...

OrcChieftain Updated 

As bitcoin formed a pinbar that might and likely will lead to small pullback, it is a good opportunity to buy trade an alt against btc. Enigma is dancing close to its point of control. Even though there is a multiple rejection pattern, the increased volume suggests, it is only a big guy accumulating this coin. I am already in and I expect to collect profits on...

OrcChieftain Updated 

Today bar is likely to end up as a pin bar. It is to be expected, bitcoin was in a contraction phase and November crash created strong Ichimoku cloud upfront. On top of all that, sudden upward movement happened to leave 3rd deviation Bollinger Bands, which is statistically more frequent on cryptocurrencies but still increases pullback probability by a great...

OrcChieftain Updated 

When I look at chart technically, I would gladly short. But there are strong fundaments that appear not to be fully included in the graph. UN's Security Council is meeting today and as far as I am aware, neither member agrees with Turkey's strike against Kurds. Russia and China are probably indifferent, rest of the members is high likely to stand against Turkey....

OrcChieftain

Oil is in the are, where price made a tail candle and reversed back again and again. It should move at least to the closes point of control. Then, I will move my stoploss and eventually close the position. However, if we break the support and close below it, likelihood of continuing downside will be high.

OrcChieftain

The daily chart shows as multiple rejections, where the moving average based support meets the static one. It was a logical point of some reaction and could be anticipated in advance. Neither side is winning and there is a potential to resume freefall towards 200 Moving Average as we retest 10500 at the weekends. Weekends are usually bullish, thus I am more...

OrcChieftain

Bitcoin isn't in a downtrend. It would have to breach two more key levels and close below. You can see Btc kissed 100 EMA and came back. It might restart the uptrend momentum, but I see the way to 200 MA more likely. It should be a perfect opportunity for long. There are two options for trading 200 MA support. You can open long when it first touches the level....

OrcChieftain

Bitcoin price is lagging below low volume areas. Huge impulse or long cumulative work is required to pile on the price. Upward direction is more likely in the long-term. 10500 - 11000 range was a source of two impulsive bounces, one in each direction. It is protected by Ichimoku cloud now. And the point of control has been established right below the current...

OrcChieftain

Based on seasonality and current price, the downside direction is more probable. Depending on how strong will be tomorrow's move, I will decide one of the two ways to trade it. a] Direct bounce off resistance 4.065 with stop-loss nearing 4.165, which is resistance plus average true range. For this, I want to see overlapping candles decreasing in size (volume...

OrcChieftain Updated 

We are nearing a price level, that served as the groundwork for the double bottom pattern and strong rally above. The price hasn't even come close anytime since. On top of that, August is seasonally good for cotton. Yes, we might break. And yes, the downward moves are very impulsive (red arrows), whereas upward moves look somehow ill and weak. But I think, this...

OrcChieftain

We bounced from the top channel border four times before. There was a small false breakout from the bottom line, which later lead to all-green rally period all the way to the upper green line. This was supported by beneficial weather period. However, the strength of the rally seems to fade. I am in short expecting us to go down for some time, but I will definitely...

OrcChieftain

Look at Slow Stochastics. They have been giving good signals recently (purple arrow, top indicator). We are also on the bottom of the trendline. I see an opportunity for long here. If you want to be more careful, perhaps, wait for the relative vigor index signal to complete (bottom indicator).

OrcChieftain Updated 

On Bitmex, we can clearly draw trendlines bordering the current short-term trend down within already down-sloping trend. Could be opportunity for a few repeatable short and close positions or one big one. I don't see any significant support anywhere near. Psychology also plays major role. We are down and we are heading further down for now. Look for volume...