Tommy_Trader

Tommy_Trader Updated 

#BTCUSD #Bybit #Tommy - Here is Bitcoin 1hr. After breaking the bottom of the black channel, as I have mentioned yesterday on my channel, it bounced at the 9320 support area. - After that it is currently retesting the bottom of the black channel. - As I have had briefed, the major resistance area sits at 9670~9730 and 9800~9880. - The trading setup below is the...

Tommy_Trader

#tommy - Here is BTC 1hr. Currently it just broke the black down channel above and at the same time it's being resisted by the purple down trendline. - Within 6 hours, if BTC goes through some correction, 8840~8890 would be a good area to enter long. - If we BTC gets to make higher high, we can expect some major resistance at 8090~9190. - On the other hand, if...

Tommy_Trader

#BTCUSD #Bybit #1HR #Tommy - Here is BTCUSD 1hr. Right now top of the red parallel channel is acting as a major resistance, or the down trendline. - In a short term perspective, 8750~8810 where the recent side way volumes are located, it also acting as a resistance if Bitcoin can break this area above, we can expect some bullish waves. - If Bitcoin breaks the...

Tommy_Trader

- US dollar currency index is pretty bearish today. This means that other currency paired with dollar (Such as GMP/USD, JPY/USD, EUR/USD, AUD/USD, CAD/USD) is likely to be bullish today. - It bounced around the bottome of the red channel. If channel fails to support, much more correction might be expected - Some major supports to consider: 99.75, 99.61, 99.50

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#CrudeOil #Tommy *** - Here is crude oil 1hr. Currently in a short term perspective, we highly need to monitor the orange down trendline and the green upward channel. - If bottom of the green channel fails to support, we can expect some correction. On the other hand, if it breaks the orange upward trendline above, we might expect some bullish momentum. -...

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#NASDAQ #NQ1! #Tommy **** - Here is NASDAQ daily. It’s been recently forming a rising wedge making higher highs. - This means that if it breaks the wedge below (or bottom of the green channel) we can expect some correction phase. - A significant bearish divergence signal at daily RSI has not been shown yet. The RSI resistances are 73.6 and 80.5. - Most probable...

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This setup is valid until 7 hours later. Long EP : 9240.0~9180.0 TP : 9280.0 / 9330.0 / 9380.0 SL : 9155.0

Tommy_Trader

#APPLE #NASDAQ #Tommy - Here is my technical analysis for Apple daily chart. Similar to the NASDAQ chart, the uptrend momentum has retraced more than 0.886 retracement level of the corrective wave structure that was caused by the COVID19 FUD. - Apple has recently broken the red upward trendline below and a is being resisted within its retest area after. - It is...

Tommy_Trader

Short EP: 1.10160 SL: 1.10213 TP: 1.10094 RR: 1.25 Short EP: 1.10334 SL: 1.10392 TP: 1.10262 RR: 1.24

Tommy_Trader

This is my short mid-term trading setup that I am currently considering. If the blue parallel resistance is broken above, we can expect some resistance around the region where the down trendline and the 4H order-block overlap. Short EP: 1.34335 SL: 100 pips TP: 250 pips R/R: 2.5 Risk Disclaimer: Please note that trading currencies (or any other financial...

Tommy_Trader

Here is my Elliot wave counting. I am currently considering expanded flat correction. When wave B doesn’t go higher than 1.328 fib extension of wave A, we can consider the wave structure as extended flat. This corrective wave tends to be formed with 3-3-5 rather than 5-3-5 structure. Usually, wave C is targeted by extending wave A from the start point of wave B by...

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Here is Bitfinex 1hr. My wave counts and trading setups are as shown above. Regarding to Elliott wave theory, BTC bounced at wave 1's 4.236 fib extension level, which I believe is wave 3. I am bearish right now and expecting few more down-going waves. On the bright side, the white mid long term trend-line was well supported. In shorter term, BTC broke the yellow...

Tommy_Trader Updated 

I am sure that all of you are already aware that we are not in a good situation. Here are my wave counting and trading setups for Bitfinex 1D. This is how I interpretted the whole structure in a bigger frame. I have never expected to encounter this green long-term log trend-line this early. As many of you know, 0.786 retracement level is Bitcoin's flavor of...

Tommy_Trader

Here is Bitfinex 1hr. My current Elliott wave counts and short-term trading setups are shown in the chart. Setting SL at decent price lets you have an efficient risk:reward ratio. If we observe price bouncing more, BTC is most likely to be resisted at the retest region of the yellow trend-line that has been broken below few days ago. Additionally, those who...

Tommy_Trader

Here is Bitfiniex 1D. I have performed a long-term Elliott Wave counting. Considering the corrective phase going on for almost about a year as a triple combo, I have counted the waves with WXYXZ structure. Moreover, I have interpreted the converging triangle pattern as ABCDE corrective wave for wave Z. For now, we have to pay attention to the green long-term...

Tommy_Trader Updated 

Here is BCHUSD, Bitfinex 4hr. This trading setup was designed with an assumption that the up-going wave cycle started from 10/18 is an impulsive wave. For now, it has retraced 0.5 fib level. Referring to the recent suuport/resistance and fib retracement levels, some decent long entry points could be deducted as shown in the chart. A general risk reward ratio...

Tommy_Trader Updated 

Here is BTCUSD Bitfinex 30hr. Assuming that the up-going wave starting from October 31th is impulsive, which also implicates that the down-going wave from November 7th is corrective, I have brought up some possible scenarios. Scenario 1: This wave counting indicates that we are done with ABC corrective waves and starting a new impulsive wave which can be either...

Tommy_Trader Updated 

Here are my Elliott wave counting and targets. Detailed explanations are written on the chart.