Sublime_Trading

Sublime_Trading

The S&P is moving along well but is also encountering a few stumbling blocks along the way. In September and October 2021, price went into consolidation, which was due for that time of the year, and a breakout followed this. The start of November saw the beginning of another period of consolidation, which price currently remains in. Price has attempted to break...

Sublime_Trading

Bitcoin appears to be sleeping right now, but should we be sleeping on Bitcoin because when it is ready to take off, we will not be given much notice as we have experienced in the past. We should always keep an eye on the market and read the information that price is providing for us. To the naked eye, Bitcoin does not look interesting as we can see price has...

Sublime_Trading

Bitcoin has not made much progress since the decline from April 2021. Price suddenly fell 56% over the course of a few weeks to the weekly 50 simple moving average, which at the time was around the $30,000 round number. Following the bounce in July 2021, price headed back to the high from April and made contact in October 2021, where it failed to break and stay...

Sublime_Trading

The current pullback we are experiencing in the S&P 500 is almost as deep as the pullback in September, having declined 5.11% so far. At the moment, the 50 simple moving average is holding as support. If this level fails, then we have the 200 simple moving average below, but price will have to decline a further 5% to reach it. A decline that far will see lots of...

Sublime_Trading

The S&P 500 closed Friday with a huge bearish candle, and price found itself suspended between the 20 & 50 simple moving averages. The next logical level for price to move to was the 50 simple moving average, which is the next support level on the daily timeframe. Price had other ideas as Monday opened higher than Friday’s close and near the middle of the...

Sublime_Trading

Last week's previous post for the S&P 500, the all-time high at $4718 was highlighted as the level we want to see broken to confirm a trend continuation. Price did in fact break this level on November 22nd, but this proved to be a fake breakout. Price moved above $4718 but failed to close above this price. We can see a mini consolidation in play now, and just...

Sublime_Trading

Gold has been resting well, and the rest may have given new life to the bullish momentum as we are starting to see some progress this month. An all-time high formed in August 2020 at $2075, and from there, we saw a decline down through the $2000 psychological area of support/resistance and below the 50 simple moving average. Price formed an area of consolidation...

Sublime_Trading

The S&P 500 experienced a pullback last week and before that, price had climbed up 3.64% following a consolidation breakout. When price was pulling back, we identified the 20 simple moving average as the next level of support that price would move down to. Price did not make it to the 20 simple moving average and had instead found support above this indicator...

Sublime_Trading

Ethereum appears to be leaving Bitcoin behind in its dust as it is making new all-time highs following the long consolidation period between May and October 2021. During that time period, many crypto traders would have lost interest and felt the trend was coming to an end, but staying on top of the charts is essential as anything can happen at any time. The 200...

Sublime_Trading

The S&P 500 looks set to repeat the trend which unfolded last November. Back then price formed an area of consolidation from September and this also occurred this September as well. When we notice patterns in the market, we need to pay attention because it will provide us with an advantage and give us an edge that could prove very profitable. Following the area...

Sublime_Trading

Crude Oil has come a long way since the lows of April 2020, which took price down to just 1 cent. Price has since climbed back over 16,000% and currently looking strong. The first hurdle following the decline was in November 2020 when price approached the 50 simple moving average resistance level on the weekly timeframe. After defeating this indicator, price...

Sublime_Trading

The market appears to be recovering from the annual September pullbacks, as we can see with the S&P 500. Following the recent declines, price found support at $4305 on September 20th and then it looked as though the pullback was over. But after failing at the resistance zone consisting of the 20 & 50 simple moving averages, price declined again, but this time...

Sublime_Trading

The S&P 500 remains in an area of consolidation for now, following the decline we experienced in September. A high of $4545 was formed on September 2nd, then a pullback came into play which we anticipated as September is usually the weakest month of the year. The pullback was deep but did not touch a previous level of support or resistance. Price has since tried...

Sublime_Trading

The S&P 500 is still in a pullback phase, seeing a decline of 4.5% so far since September. The move is almost equal in size to the decline we witnessed in September 2020. What we need to do when price pulls back is identify levels that price may gravitate towards so that we are prepared in advance to manage our positions and give us the advantage of getting ready...

Sublime_Trading

Apple is experiencing a weak September, but a quick inspection on the monthly timeframe shows price is now finding support at a resistance level turned support. This level is based on the January 2021 high at $145. Price initially broke above this level in July 2021 and started pulling back this month. Last week price opened below this level but closed above it,...

Sublime_Trading

Bitcoin is currently going through a stagnant phase as it is moving sideways and not moving much in either direction. December 2020 to April 2021 was a good run for Bitcoin as it experienced a move from $19,700 to over $64,800. The decline that followed brought price to the 50 simple moving average. The first contact was made in June then again in July. The...

Sublime_Trading

Following the peak of the Covid pandemic in March 2020 when price declined by 48%, price turned around and gradually moved back to the upside, eventually breaching the all-time high 11 months later. In May 2021, price created a new all-time high at $3,017 before heading back down towards the weekly 50 simple moving average. The 50 simple moving average was an...

Sublime_Trading

September is usually the weakest month of the year in the stock market, so we were ready and waiting for a pullback to appear. From September 2nd, we started to see a slow down in momentum as an indecision candle formed and from there price started to decline. The 20 and 50 simple moving averages are our expected levels of support, and as we can see, price is...