eganon69

eganon69 Updated 

Markets are at MAJOR Pivot point around this Trend Line connecting 2009 GFC Low at 666 to today's CLOSE and last DECEMBER 2022 High. Markets typically get rejected off this resistance and have been rejected every time since 2009 EXCEPT when we had LOW Interest Rates + PPP after Covid. That is ONLY time markets broke ABOVE this line. We broke Below this line in...

eganon69

Nat Gas is probably THE most hated commodity now. Its reached MAJOR Horizontal Support, and 2 CONVERGING Trendline supports. ALL 3 are Converging at $2 level. Expect a bounce to 1st Target at recent highs $3 with Ultimate Target price at upper end of falling trend channel ~$3.55. Historical average Price of Nat Gas is $4 since 1990 with $1.62 - $2.00 range...

eganon69 Updated 

Again, I have repeatedly posted numerous trades where I became net neutral on BTC as I sold my holdings and then have played the bounce higher from the recent lows. But ALL of this is within an overall STRONG Downtrend. NOW is the time to go SHORT. My low target price keeps getting worse and worse. This target is ~$16k. Other targets I have between $12500 and...

eganon69

The chart speaks for itself. SHORT ABNB at anything > $118.50. SL = $132.78. REWARD:RISK = 2.26. Target Price ~$86

eganon69 Updated 

NVDA has been on a tear higher lately as has all of Tech despite the Banking failures. It seems everyone thinks Tech will outperfrom with lower yields. What people are failing to realize is that Lower yields are a sign of a flight to safety in BONDS and this implies a POOR Economic outlook. One of the 1st sectors to get his hard in a recession is TECH. Here...

eganon69 Updated 

This chart is up against ATH and MAJOR Overhead Resistance lines extending back to 1996. This stock has been overbought for quite some time and has continued to move higher while markets have traded generally lower. I fully expect this one to play catch up soon. Notice the large Yellow Parallel Trend Channel that price broke out of in March 2022. Price has...

eganon69 Updated 

This trade I have been in for a while but thought I would post it here as its a similar setup to the SQM SHORT I posted last week. That SQM SHORT I labeled as "BEST SHORT Opportunity in the Market". Well this one is the 2nd Best in my opinion. Simply because it has been a little stronger stock and in a better sector (Healthcare) than SQM. Having said that this...

eganon69 Updated 

Overall I am a $BTCUSD BULL but we must admit that currently $BTC is faltering and possibly in a Bear market. I think that the money that fled to BTC from Gold will be coming back. In addition the chart of Gold has been forming a GIANT Wedge with the apex rapidly approaching. This is a Bullish consolidation formation. WE have just today closed above the top of...

eganon69 Updated 

This is a MASSIVE Monthly BULL FLAG (Blue). After breaking down this massive trend channel GDX has recovered and is now breaking back into the huge UPTREND Price channel while MACD is remaining above ZERO. I realize the month is not over yet but when you are struggling to find places to put your money when the stock market is retracing this would be my next...

eganon69 Updated 

Recent drop below Trendline support and Major Horizontal support at 4548 as well as Break below EMA 39. EMA 39 acting as Resistance now. as well as down trendline (dotted yellow lines) The run up in Nov-Dec 2021 was a pretty classic Wycoff Distribution as Green candles formed higher highs with smaller and smaller Buying volume. Notice that the Red candles...

eganon69 Updated 

Chart Says it all. Going today to get my application. I'm NOT Lovin' it. The biggest Giant M I have ever seen. M patterns are SELL signals. This rally was a dead cat bounce people. As I have mentioned before I think $BTCUSD is following AMZN price action during the dot com Bubble in 2000 and I expect a retest of the $28K low with probably bottom between...

eganon69 Updated 

These crypto charts are ALL looking various shades of UGLY. Already traded this one earlier with SHORT from $21.79. Closed that trade and NOW SHORT again. We are breaking down from massive Price channel of the last 2 years (Solid Think Yellow Lines). On the Daily chart we have tested this level many times and the momentum is picking up to the downside as well...

eganon69 Updated 

This is more of the same. Every chart in crypto looks like Dog Sh*t. Big Downtrend channel with big BEAR Flag forming and now $ETHUSD breaking down out of Bear Flag. This Target Price of this breakdown = $1286.75, but that is probably a bit too optimistc given all the HEAVY Support around $1800. Plan to take large majority of this trade off at ~$1800 and...

eganon69 Updated 

I know everyone will say this is an outlandish call but I am making it anyway. I FULLY Expected $BTC to bounce at the most recent TL support around $38,400-$40k just as everyone else did. But the signs were there and I wish I saw them earlier that $BTC has Topped for 2022 and will likely not see a bottom until 12-18 months from now. I expect the low to be...

eganon69 Updated 

I have been looking at charts all week and what looked like major rotation from Growth stocks and crypto to "Value" stocks and crypto it appears to now not be the case. MAJOR Supports zones were broken in just about EVERY sector in stocks and just about EVERY crypto out there except $ADAUSD and $LINKUSD which are not far off from breaking their support as...

eganon69 Updated 

Previously I posted a SHORT Bitcoin chart based off 1 hr TF. For the exact same reasoning I used there I have enetered LONG on $ETH, $DOT, $BTC. Tight BB squeeze on 1 hr chart but what looked like CMF (Chaikin Money Flow) showing money coming OUT of these assets. But lately over last day these 1 hr candles now show money flowing IN. I have reversed my...

eganon69 Updated 

Just to be clear I am currently BULLISH on $BTCUSD over the mid to longterm but I see a setup for a short term swing trade and have entered this trade (hours to days). This is based off the BB squeezing to a very tight range and this suggests a coiled spring in price is being compressed and some of the best trades come from this setup. Anyone can clearly see the...

eganon69 Updated 

Money has been flowing OUT of BTC and Crypto in general with some smaller "value coins" starting to get CMF turn Positive. But the market usually follows BTC and ETH leads. Both charts look similar and suggest further downside with a retest of support levels before Accumulation zone is done and we start a leg higher. As with everything in TA the charts can...