TradingNomadic

TradingNomadic

We've hit the 786 here on the Bearish Cypher. ADX has reached extremes and shows the bullish DX cloud beginning to fade out RSI is showing maturing Bearish divergence as it falls under the moving average and out of the bullish control zone Id love to see a lower low and lower high locally to confirm the downtrend. A common retracement to the 382 would bring...

TradingNomadic

Looking like the confirmation high on the Bullish cypher here. Bearish divergence maturing on the RSI. The positive DX cloud on the ADX is coming down while the trend is losing strength. Money flow also coming down and barely positive on this second high. 16280 would be likely for a checkback but ultimately i think the .786 is going to be the target.

TradingNomadic

Catching a bounce here but ultimately im looking for a lower high in the retracement zone, which we have hit already arguable at the .382. From there i would be looking for an extension to the 1.618 minimum, which is confluent with a local inflection zone. The .786 retrace of the entire wave would complete a Bullish Cypher pattern, and i would be scouting for a...

TradingNomadic

Bitcoin catching a little lift here, still holding at the 113 extension of our previous range, and breaking out of the local consolidation. Watching 17600, and 18900 as 2 local range targets, with 18900 being confluent with the POC on the volume profile. If we break about these levels, id look next to the .618 around 20,700 for the potential of a bull trap...

TradingNomadic

Real nice reaction here from the $NDX. Bullishly engulfing off a critical level from the summer. MFI is about to cross over as we reenter the bullish control zone on the RSI. ADX shows the bullish trend is gaining strength, and we have backtested the 55EMA as support. This structure is similar to our SPY and DOW trade, just a little farther behind the...

TradingNomadic

Holding above a critical level on ATOM, 9$ was a top August 2020, and a bottom last July, historically the next level up would be around 14, and $22 above that. Possible Bullish Gartley completing at the 1.272 retracement from our September highs with bullish divergence locally on the RSI on the daily and 4hr. The weekly shows a weaker drive of divergence as...

TradingNomadic Updated 

Real nice recovery here on Tesla, after briefly breaking below the September 2020 high, and March 2021 low. Of course we would like to see 179$ backtested as support, or perhaps a local double bottom, but this looks promising for tesla so far. RSI has reached oversold with a real clean drive of bullish divergence, and clear impulsive behavior afterward above the...

TradingNomadic Updated 

Real nice example of wyckoff accumulation here on the TOTAL2 chart. This is the total market cap without Bitcoin , though all of these charts have a similar style accumulation range, BTC being the most effected by the FTX event. We have broken the supply line and regained support above critical levels after the spring event. I also notice there is a new gap in...

TradingNomadic

We have been watching this chart for a while, and while times are uncertain with all of the contagion taking place in the markets, im hesitant to discredit the idea just yet. We are still unable to close any higher than the 1.13 extension, which is a very common Bearish/Bullish rejection zone, and often used with the UTAD or Spring event in Wyckoff theory. I...

TradingNomadic

This is the same pattern Bitcoin formed back in July of 2021. A black swan, or bullish dragon. The 1.13 rejection is also confluent with the idea of a Wyckoff accumulation spring event, and the same behavior we are seeing in the equities markets on major indices. We also seem to be breaking some downsloping trends, or in the case of a bullish dragon, that...

TradingNomadic

Ive seen about 200 different posts about the triangle from 2018 just before Bitcoin broke down. And the similarities were speculation at best, however, if you want However, the speculation behind all of these charts is ignoring technical details that invalidate the argument completely, in my opinion. Capitulation took place when we broke under 28k. That was...

TradingNomadic

Note, this is an inverted Chart. Kind of a thought experiment i like to do from time to time to check my bias. In this context, you can see how BTC formed that lower consolidation in February. We broke the supply line, and the range highs, but never got a proper backtest. BTC consolidated a bit around 28800 and then broke out again where we have been unable...

TradingNomadic

We are t a point where this range could be defined, by a move in either direction, with the assumption this were a wyckoff accumulation schematic. Above this zone, price action thus far accelerates to the top of the range. However, if this was the SOS portion of the schematic, you would expect a move above the range, and then a tight consolidation / back up, and...

TradingNomadic

Gasoline futures on the rise again as things heat up across the oil markets. Bullish Cypher with a type 2 confirmation low. Bullish divergence on the MACD, with a inverse head and shoulders style reversal on the RSI. A common retracement here would be between the 382 and 618 at 2.91 - 3.40

TradingNomadic

Real nice reversal here on the weekly chart with both the MACD and RSI showing us that a bullish divergence is happening here at historical support. A common retracement from the highs would bring us back to 400 at the 382, and 429 at the 618. Looking at the structure of this wave down and lower low double bottom, we could anticipate a reversal as high as the...

TradingNomadic

BITO, the futures ETF for Bitcoin, is potentially putting in a double bottom here similar to how BTC is forming. Whether you want to reference a wyckoff schematic, the Bullish Shark pattern with a type 2 in place, or the elliot wave structure on the corrective move from the peak, weve also got a few nice drives of Bullish divergence on the RSI as well as on the...

TradingNomadic Updated 

Just a thought here using the bullish break from the 2017 bear market added on to the end portion of the 3 Peaks Domed House pattern we have been watching since back in December. There is a lot of confluence between both the fractal, and the structure of both bear markets, although last year we got the higher high expanded flat correction that brought us to 69k...

TradingNomadic

This is the deep crab / Bullish shark pattern i referenced in my previous chart. Youve got the completed shark with a type 2, which in itself would be the type 2 of the Deep crab. Youve also broken the supply the line coming off our last high, and backtested it so far, as support. You could look at the shark, as the feet of a Bullish dragon, and breaking that...