hermes_trisme

hermes_trisme

Yesterday, bulls regained full control over broad market, not just managing to set daily higher low but doing it spectacularly. With no historical resistance above it is impossible to say when this rally will end. Any short trade should be discouraged until there are some clear signs of reversal. Bulls, who missed the move, can look for 15m/1h consolidations for...

hermes_trisme Updated 

Great hourly double bottom shaped yesterday on Netflix chart. The context looks good: we are in the correction wave on daily with retracement ~50%. Broad market also recovered yetserday and looks strong. I'll be defintely watching reaction near 586 level, where strong sell-off occured on Tuesday, with a goal to enter on the next hourly higher low

hermes_trisme Updated 

Developing triangle on SPY. The context doesn't provide much clue which direction it will resolve. We have clear trend reversal signs on daily chart (Lower high is set) but weekly consolidation has not yet started so there is still opporunity for bulls to set daily higher low. Adding to bearish side is slightly unfilled gap from Tuesday. But this is very minor...

hermes_trisme Updated 

On Friday QQQ set daily lower high, marking potential trend reversal. Now bears must lead price all the way down (below 425.3) to start weekly consolidation. If this doesn't happen fast and bulls manage to set daily higher low then uptrend continuation is still an option. Also notable that bulls were able to close price gap from Tuesday, and bull wave retracement...

hermes_trisme

Short term opportunity for a LONG. Context: Market: strong Ticket weekly: Up wave Ticket daily: Up wave Ticket 1h: uptrend, consolidation (down wave) Last day: Gap-up open, price didn't find much support from buyers and was rejected. Rejection wasn't strong enough (price didn't reach prev day low), which shows lack of strong sellers interest. Conclusion:...

hermes_trisme

QQQ weekly consolidation confirmed Context: weekly - downtrend (DT) daily - uptrend (UT) Last day: Price broke previous week low, signaling start of weekly consolidation. Value is overlapping with the previous day. Conclusion: Market looks very bearish but there is an interesting nuance. Although weekly consolidation confirmed we're still in daily UT,...

hermes_trisme Updated 

Context: Weekly - uptrend (UT) Daily - downtrend (DT) Last day: Value moved down but left very poor and weak high Special notes: Daily RSI is in oversold. Price at DMA200 support Conclusion: A lot of selling in the last 10 days. Market is getting too short and needs to cover those shorts before moving further down. Last day indicates lack of strong...

hermes_trisme

Last week was a small win for bitcoin bulls as they managed to set weekly higher low. As we noted this win was not very convincing, and hence didn't lead to much upside. In order to strengthen their position bulls needed to set daily higher low (HL) near range value area to confirm daily uptrend (UT). This happened yesterday but for some reason bulls were unable...

hermes_trisme

Context: Weekly – uptrend (UT), one-time-framing up Daily – uptrend Microstructure: Poor highs, poor lows Last day: value moved down Special notes: There are multiple signs of UT exhaustions: shortening of daily trend upthrust, daily volume dries up, last week value area overlaps with previous week Moreover, price is close to monthly resistance cloud....

hermes_trisme Updated 

Context: Monthly, weekly - Uptrend (UT) Daily - downtrend (DT) Micro-structure: Poor low from yesterday, excess high from Wednesday Last Day: Bearish break out from the range w/o much follow through (b-shape profile implies liquidation of longs, w/o new business). Price returned to the previous range. Conclusion: Healthy weekly consolidation. Daily DT...

hermes_trisme

Context: Monthly – Uptrend (UT) Weekly - UT tentatively confirmed. Last week value moved just a bit lower comparing to preceding week, which signals down movement exhaustion. Daily – broken downtrend (DT). Microstructure: Excess at the high, excess at the low Last day: Price moved to the top of the range, finding some acceptance and setting weekly HL ...

hermes_trisme Updated 

Context: Monthly – Uptrend (UT) Weekly - range, potential setting of higher low (HL). Last week value moved just a bit lower comparing to preceding week, which signals down movement exhaustion Daily – broken downtrend (DT). Last two days (Saturday-Sunday) are inside bars within Friday’s range (two days balance) Microstructure: Two days with excess low (1st and...