TradingNomadic

TradingNomadic

This is an addition to the ongoing macro trade idea from the spring phase low. This whole structure here, looks to me like one long wyckoff accumulation campaign and Adam / Eve double bottom. This is your sign of strength, and the expectation is to return to the range high, and likely see a partial decline or consolidation once achieved. If i am correct here,...

TradingNomadic

I call it the 3 rising dragons because of the way it bottomed. Dragons, Broadening Bottoms, and 3 rising valleys often present themselves similarly. In this case, the most notable characteristic of price action here is the head, and the 3 rising valleys from the lows, even though, you do have your distinct feet and 786 retracement initially there. .74 cents is...

TradingNomadic

Real nice look here on GREE, a bitcoin mining company. Breaking back thru the low of the range after 3 drives to alongside the lower trend. Bullishly engulfing here on the 3day, first target being the range high at 8.99, then 14, 26, 50, going up the fib extension on the left side. Measured move is 48.66

TradingNomadic

Real clean bullish dragon pattern here on ETH with the daily Bullish engulfing today. Initially looking for the range high target at 2810. This would confirm the double bottom, and the expectations above that would be a 1.618 extension, or as high as the measured move of the double bottom. A break above the upper supply line would then raise the targets to...

TradingNomadic

Retesting the range highs will confirm the partial decline, and signal, statistically, a breakout to new highs is most likely. Ive marked out a few targets on the way, but the resolution of this pattern will likely take out (C) and make new highs. A simple 1.618 extension of the local correction would take you to 63, with the measured move of the double...

TradingNomadic

Real nice example of a bullish dragon setup here on NIO with the first higher low in a while here. A return to the top of the local range from here would confirm the double bottom. Typically youd expect to see a partial decline to come in from there before an attempt to break higher. If the top of the range is tested a second time, itd confirm the partial...

TradingNomadic

Interesting fractal here overlaying BTC at 25k onto the ETH rectangle. While we've been talking about 13k as a possible extension target this cycle, we have now seen an equilibrium between the bear market 1.618 extension, and the local 4.236. Of course the fractal is just a little speculation, it does help illustrate the potential, and seems to align with some...

TradingNomadic

If this fractal were to continue to play out, this is a pivotal moment here for BTC. Bulls stepping in to support the low once again, rejecting the bearish breakdown. Rectangles have a tendency to have false breakouts, and if we can maintain the lows, this is potentially where the next wave up could begin. This, paired with hidden divergence with BITMEX:BVOL ...

TradingNomadic

Real clear lower broadening trend, with 3 drives to the low and what would now be considered the end of the spring phase. This is where you would expect to see a retest of the range low to confirm that the breakdown was rejected, and the range is now being considered support. A lot of overlapping price action on the way back up, but the top of the range is the...

TradingNomadic

Daily swing failure confirmed on the daily here, potentially marking the second bottom. So far we are bullishly engulfing, showing follow thru after the bullish Hammer yesterday. We still have a full day before it closes, but that would be a real good look here for OP. If the low is sustained here, this would give you the beginning stages of a bullish dragon....

TradingNomadic

Real nice setup here on DOT, one of the most undervalued alts paired against BTC. We've been watching this one for awhile, anticipating the move on the BTC pair, and its been setup real nice here on the daily USDT pair. Bullish dragon here, with a potential wave 1 up, wave 2 down. Broken outside of the downsloping supply line and retested, a classic break &...

TradingNomadic

Looking for continued consolidation within this zone above 46, and a retest of the range highs. This would confirm a partial decline and statistically favor a breakout of the range. Id look at this as the sign of strength, as we have diverged from the bear market downtrend, made a new high locally after a second higher low, while maintaining support above a...

TradingNomadic Updated 

The dragon was confirmed on a break above the hump. We could be coming down for the checkback first, but the idea would be a bullish continuation from here until proven otherwise. The trend is your friend, till its not. Looking for the 1.618 next as an initial extension of wave 1, followed by the measured move of the local double bottom at about 76k, but the...

TradingNomadic

Real nice double bottom here locally on Nikola. Really want to see a move above .84 cents here to break MS locally, and confirm the local bullish dragon. First major level is going to be the supply around the .618 there and then the Weekly zone at 2.82 Above the (B) point, you would expect the "Bat Action Magnet Move", a term coined by Scott Carney, which...

TradingNomadic

Real nice rounding bottom accumulation going on here on Coreum. Like an Eve & Eve double bottom. The idea, in any case, would be overhead supply, with these lows reaching into liquidity lower to accumulate. While the targets here seem pretty unrealistic, this is how youd measure something like this. Similar to a right angled and descending broadening formation,...

TradingNomadic

Real nice chart here on CRV. We've gotten a break of the downsloping supply line, and a checkback. The local double bottom would be confirmed at 1.30 and would target a measured move of 4.31, with profit taking at the 1.618 extension on the way. Typically this move to the top of the range would be considered the sign of strength in wyckoff ranges, and you...

TradingNomadic

If we manage to hold this historical inflection point, it would also be a partial decline inside of the broadening wedge / megaphone. For further confirmation we would want to see a move back above the local overhead supply zone and a break outside of the downsloping supply. We are currently broken out of and diverged from the initial supply line, and that is...

TradingNomadic

We have been following the BTC pair as well and all things line up for expansion here on DOGE. This would be the sign of strength after retesting the inflection zone, which was your partial decline of the smaller range. We should expect to see a move to the top of the range around 14-16 cents next and another bu / consolidation, high and tight, likely...