Broken rising wedge corrective wave. It’s testing the wedge structure and we are looking for a rejection to the downside.
Ripple is extremely bullish right now. This is a normal correction after such a big run-up. Don't get shaken out if it goes down one more time for a more complex correction.
MJ stocks has been hit hard and it's killing the high of cannabis investors. However it is due for a pullback on the upside. We have a falling wedge and the price has dropped down to a major support.
What can I say, this raging Bull market has got everyone in Euphoria. S&P has rallied above the 4k price point sharply, however the volumes are low and declining! Who are buying at these levels? Retail. There was a lot of consolidation right below the 4k price point which should serve as strong support. This is why my strategy for this trade is to scale down...
Gold has been going through a corrective consolidation since it's run up to the 2000s which is normal. We are close to the bottom of the corrective channel, this is a good buying opportunity. Long position opened, Stops set at the bottom of the corrective channel.
Oil Has been on sharp rally on the up-side but nothing goes up on a straight line. While the Monthly chart shows a bullish trend, we are seeing weakness on the 4h chart. There are many ways that this could play out, the most likely scenario I believe is a correction to mid 40s before breaking out to the 70. How to enter the short? I'm looking for a pullback to...
Opportunity to short with good risk reward ratio. Play safe.
S&P is undergoing a pullback from the downward impulse from March to complete the ABC corrective wave. Time will tell if this correction will be simple or complex. I'm leaning towards a complex correction as the affects of the corona virus will take time to show up in the economy. Q1 earnings is not indicative of what this virus is doing to the economy and...
The downward movement on bitcoin is losing momentum. If this is a new bullish wave, this will be wave 3 which is a strong wave. I'm going to enter half here and the second half if it goes lower. trade with care
I'm publishing this idea not to set up a trade but rather I'm going to do some market analysis for the next while. I have been off with my readings with bitcoin - there has been some bear and bull traps over the last few days. Normally when I'm not trading well, I reduce my position size and I try to get in sync with the markets again through analysis. This...
This is a continuation of Part 2 which can be seen here: We just retested the upper wedge and it failed to break it down, which gave us this quick short opportunity. I have adjusted the magnitude and time frames of the waves to reflect the latest price data. Let us wait and see if BTC falls to the bottom of the wedge (which I am really hoping for). This will...
This is a continuation of the falling knife series - last episode here: As usual Part 1 is the big picture perspective. As we are get closer to the entry point, we start to look at the smaller time frame to prepare to buy in Part 2. We were here: We are now here:
Hello Fellow BTC Bulls. Here we go again, we are waiting for a long entry in Bitcoin while is slides down to oblivion. This is not for the feint of heart, as you can recall we tried this at 9500 and was stopped out with a small profit. We then tried again at 7337 and was again stopped out by a small profit. We have not lost any fingers but needless to say,...
I'm currently sitting on the sidelines waiting for BTC to make its decision. We are seeing volatility contraction in BTC, typically volatility contractions precede big price moves. I do not have an opinion as to weather it's going to go up or down, but you can probably tell from my ideas that I like to do counter-trend trades. It can't be denied that we are...
Hi All There's another possible long scenario in BTC. We can play this in two ways. 1. Buy the support at the bottom of the wedge or 2. Buy the breakout of the wedge. I prefer 1/2 of the position on 1 and the other half on 2. Stops at 7200 initially. keep position size small, this is a higher risk zone. trade with care
This is a continuation of Part 2 where we bought in at 7337 from the recent fall from 1200 area. It seems that I'm very much in sync with the market right now - I'm not saying I'm always right but my calls have been bang on so far so lets take advantage of this while it last. First thing - trade at your own risk, I employ strong money management in my ideas....
Hi Fellow BTC Bulls. This is a continuation of my idea here: If you have been following me, we have been trying to catch this knife and we are still up. We are still waiting for a good long entry point in Bitcoin. We are currently in a falling wedge AND a long term support AND a double bottom - this gives us a lot of support. We have one more down move, get...