TradingNomadic

TradingNomadic Updated 

Loving the progress on Kadena here. Correcting a little bit with the rest of the market but still above 8.30 which is very bullish to me. A nice check back and confirmation of support would be the signal for me that more upside is to come. Im looking at the bigger wave structure here, and it looks to me like we've got the beginning of a bearish cypher forming,...

TradingNomadic

We have been here before! Straight up, straight down! Same trade as last time folks.

TradingNomadic Updated 

We identified this before the cypher hit the .786, i think we may be hitting a short term top here for now, but theres still some time left in the session so its hard to be sure. I just wanted to breakdown the move up, and how i am seeing things. Id love to hear some input.

TradingNomadic Updated 

Of course its a little too early to call out a full 88% retracement off our lows but we are testing, and currently holding above critical levels historically. If we do hold this level, we could have opened the door to 58 or 66k eventually, but im looking at that 52k level first. It would be confluent with the 50% return of the Bullish Shark chart i had posted...

TradingNomadic

We've only made it to the 1.13 so far, and at that point the (C)-(D) leg was too shallow to be a shark , leading me to believe we could see another move down to the 1.27. I do like the confluence there, but if we get some legs here and break back above the inflection, id consider that a failed downthrust, double bottom reversal if can manage a higher high locally...

TradingNomadic

The more i look at these daily charts, the more bullish i get toward crypto. While we could fail this bottom range entirely, this is as low risk as you get, with great potential for upside. You have 2 bearish shark / double bottom patterns. The target for the Bat is going to be the .886 minimum, but considering the double bottom nature of these patterns, you could...

TradingNomadic

Really nice structure here on Loopring, but we have only seen a reaction so far. You really want to see a second test of the lows for confirmation, preferably with a higher low which would give traders the implication of accumulation. Again, this would be contingent on BTC making a bullish advancement, however if we see further correction and this structure holds...

TradingNomadic

Caught some divergence here on the RSI at the 1.272. While the Cypher can go as low as 1.414 on (C), the divergence could imply the bottom is in for now. So long as we hold above this inflection, historically we would likely be headed to 23-25. Bitcoin is the key to all things alt coin right now. I am expecting a correction of some kind from bitcoin, as outlined...

TradingNomadic Updated 

Without a higher high this would confirm distribution for me. Id be looking for a pull back, and if we get a nice reaction at the .886 retracement, id be confident in the completion of this Bearish Bat, even if it meant a lower high and continuation of an ABC to the 1.272 retracement below the current range. This wouldnt be ideal, and would prolong this kangaroo...

TradingNomadic

If we manage to hold this zone, its likely we will retest 40500. A failure there the first time could be strategic, giving us a chance to confirm the low, or reject it. Hard to be confident in anything with the Fed doing their dance tommorow. Historically we usually give that 29-30900 zone a test, perhaps we were not able to reach it but i think a rejection at the...

TradingNomadic

Real nice double bottom. Bullish dragon measured move is the 1.618 extension, the .886 would be considered the minimum of the Bearish Bat formed in its reciprocal. Personally i like 7.88, 9.88, 10.88 for potential targets.

TradingNomadic

Real nice reversal pattern here, clear accumulation and 3 rising valleys. The 50% retrace would be the measured move, but ultimately the liquidity levels is clear, these type of structures usually do at least an .886, sometimes the 1.13 to trap bulls on the break above the highs, while triggering short stop losses. We posted this one on the initial selling climax,...

TradingNomadic

Just a thought here if we get another attack at the lows to absorb the liquidity left in that wick. I was looking at this initially as the wyckoff spring, but no real follow though just yet. While we may not get the return to the wick, the targets are confluent with a few different levels of liquidity, and still likely to be visited if we break to the upside.

TradingNomadic

Failed 1.13 off the Bearish Bat retracement into a 2.0 extension of the Double bottom structure with a 5-0 retracement.

TradingNomadic

Youve got confirmation on your volume, RSI, and on the chart. Double bottom confirmation preparing for a full harmonic reversal here. Reaction low, reversal low.

TradingNomadic

A pattern ive been seeing a lot. You can see a complex ih&s pattern on the underside of the divergence, and the measured move completion. then bullish wedge consolidation. A bullish pattern mirroring an inverted bearish pattern, on the underside of a divergence. Resolution would be a return to the liquidity pools build on the way down inside of the the inflection...

TradingNomadic

We have double bottomed here for a 100% return of the last impulse up, and reached the 2.0 extension of the first leg down. This is the same extension we reached in July, similar consolidation and wyckoff behavior. Its critical we hold this zone, and it does appear we are attempting to pull to the top of the range on the lower time frames. Its also important we...

TradingNomadic

We finally reached the .886 on the bullish shark trade setup from December. You really want to see a powerful reversal here, at least a move to 54k for the 50% return as outlined in the 5-0 trade. While the sentiment is terrible here, and its tough to call the bottom. This would be an area of deep value and easy to define reward to risk. Original trade setup...