graham.edwards84

graham.edwards84 Updated 

This wide wedge on the one minute chart usually fails. It will show as a star doji on the one hour chart.

graham.edwards84 Updated 

You would think by looking at the structure of the wave formation it would be topping right now if not somewhere lower yet buyers are still moving BTC higher and this will continue at least to the 9200 - 9300 range. One way that I can sense a major pivot point and reversal is by watching the fractal formations. In the case of a topping pattern we will sometimes...

graham.edwards84

We have a very nice looking wedge formation now and very bullish that it has not broken down through the horizontal dashed line too. We should be patient for another 12 hours or so and our patience will pay off. The only concern that I see now is the rally on BTC, and that is looking more vertical. I really would like to see some nice sideways consolidation on BTC...

graham.edwards84

So I'm not really a gold bug or a gold bear but I will say from looking at these two charts that I do see many bullish indicators. On the right side is the one week chart and on the left is the two week chart and the asset does seem to be trending targets on both time frames so we can look at both to get an overall picture. It has tagged the 200 MA in both charts...

graham.edwards84 Updated 

On this one month chart you can see that USDJPY hasn't made a higher low or a higher high since... well... never... so I'm not even sure what is keeping it aloft at this point as it is in a tight squeeze between averages and that is probably why we are seeing these rounded formations on the daily chart, it is fine to play the swings for some gains but until this...

graham.edwards84 Updated 

BTGUSD is behaving fairly predictably and I would expect a bounce here between the $300 to 320 range before continuing on an upward trajectory to the 600 range. We will most likely see some type of double tag formation on this small retrace. So watch for a clear signal to get back in if you are on the sidelines.

graham.edwards84 Updated 

ETHUSD -0.71% is trending very nicely on the ten minute chart and is looking to reestablish a connection with the 200 MA here before the next leg higher that will take us to the 560 range with a brief hiccup at the 500 mark. After the next wave I do expect some consolidation and will probably exit at the 550 - 560 range and seek a better entry.

graham.edwards84

The Euro has been consolidating lower since 2008 and it hit bottom last year so the bullish move we have seen off the bottom is just the start of the bull run, in my opinion. Yes, we have just completed a small retracement from 1.20 to 1.15 or whatever but this is a necessary reset for the next leg. Confidently long on the Euro and I have long options in place.

graham.edwards84

Bitcoin 4.64% looks to be entering a blow off top phase of the third wave in this set. We have no idea where it will end here but the FOMO will be fairly severe. It can go to 9000 or 10000 or maybe even higher. One certainty though is when sellers do come in with volume it will fall as quickly as it rises. This will cause a disturbance in the force within the coin...

graham.edwards84 Updated 

I have revised my long term outlook on BCHUSD. I no longer anticipate a new all time high for this rally. Generally after a spike rally like we just enjoyed there is a second attempt to make a top but it is rarely successful. My feeling that will will get close to the top but then sellers will come in and there will be a gradual deterioration of the price point...

graham.edwards84

I am revising my short term out look from the 20 minute chart back to the 30 minute chart. BCH is trending on the 2 hour and 30 minute charts so I don't see any upward momentum until the 20 MA reestablishes a price point that coincides with the 50 MA. My feeling is that the move here will be mostly sideways for the next 24 hours or so.

graham.edwards84 Updated 

You can see here BCH is trending nicely on the 2 hour chart and following the 200 MA. When I thought about a long idea, I originally thought it would probably consolidate sideways again as indicated by the number 1. However, noting the structure of the wave formation is becoming somewhat rounded and am leaning more to the idea indicated by the number 2 whereby the...

graham.edwards84

Looking at BTCUSD on this 3 day chart we can see that previous reversals have been indicated by star dojis. But now we are not seeing this yet. This leads me to believe that there will be some sideways consolidation at the top that is yet to come as this relatively stable price points will produce the doji on longer time frames such as this three day chart....

graham.edwards84

I ended up with a few BTG coins after the split and I'm pretty happy now that I didn't sell them straight away. Here's a 2 hour chart long outlook. I would expect some kind of correction here and then a bullish move higher to the $600 range. After that we'll see I guess. You could always sell here and wait for the correction to get a better position but I'm...

graham.edwards84

ETH in my opinion is still very bullish. We new the 400 mark wasn't going to pass without some trouble right. So I expect this to be a retest of the resistance and now support line. My feeling is that we are soon on our way to 500 area.

graham.edwards84

The bullish baseline is trending the 50 MA on the 8 hour chart.

graham.edwards84

We should top out on this cycle around what looks to be 440 range and then expect a reasonable retracement before the next larger wave cycle begins. The bullishness will be indicated by the retracement. The deeper the retracement the less bullish sentiment so if you are planning on exiting and re entering watch closely for the turnaround signal. I may just hold...

graham.edwards84

Completed the half way retrace and headed to 450