krugman87

krugman87

ETHUSD is at a major inflection point. Price has been winding up inside of a massive inside bar pattern for almost a week now (there are now 5 child candles inside of the mother candle). When such a large inside bar setup forms the breakout is usually quite aggressive. The big question on the table is, will this break up or down... Putting all of the facts on...

krugman87

Yesterday ETH looked as if it want to start a next leg lower with a bearish break of the pennant and a test and rejection on the intraday charts. Overnight bulls were able to be ETH back up through the upper and lower channel of the pennant. With this bullish reversal we may finally see price start to rally again. The big question will be if this is just a...

krugman87

ETHUSD broke down bearishly from its pennant pattern today. Towards the end of the close it attempted to retake the bottom of the pennant but the attempt failed. This can be seen in the chart with the bearish hammer forming off of the bottom of the pennant. I believe this significantly increases the chances of ETH falling to next support in the 180-200 region.

krugman87 Updated 

*DISCLAIMER* The weekly candle is not yet closed! That aside, if the weekly candle closes somewhere in the price range it is at right now, we are looking at a very bullish setup. The setup is an inside bar / pin bar fakeout, on the weekly, on major support, and is with the prevailing trend. You really can't ask for much more. It is important though to wait...

krugman87 Updated 

ETH is currently hanging on by a thread by holding the very last tiny bit of support within the bearish pennant. Unless price can reverse strongly from here then the chance of price breaking down in the near future remains high. Even if price is able to bounce from here it will face strong confluent resistance at around $225. If price can break and hold above...

krugman87 Updated 

LINK has broken out of a rectangle pattern that has been forming since late last year. The price action leading into the rectangle was bullish and on high volume, and the breakout was to the upside and on high volume, strengthening the case for this setup. A pullback and retest of the top of the rectangle would offer an attractive entry for those looking to get...

krugman87

Across the board we saw a market where sellers dominated buyers. Technical damage was done today. Unless that damage can be repaired with price retaking key support levels in short order, then this market will move from "buy the dips" to "sell the rips". I will be watching how price reacts to these resistance levels to make my next moves.

06:30

krugman87 Updated 

In this video I recap my analysis from yesterday talk about the next 2 or 3 most likely scenario's now that price has broken through the "red-zone support" that I outlined yesterday. The importance of identifying these scenario's is because these are the specific price levels that I will be watching for candlestick signals to form. If a specific candlestick...

krugman87

Eth is now just holding above the most generous trendline that can be drawn (very tips of the candle wicks) and below the "best fit" trendline. I consider this area a red-zone as it is sitting above its very last bit of support. Failing to hold this level could trigger a sharp selloff. I have marked the 2 most common scenario's that could play out. The bullish...

09:41

krugman87

In this video I unpack a bunch of intraday and daily price action that has occurred over the past week and also talk about the price levels I am watching for end of day.

krugman87

USDJPY has broken a multiyear trendline resistance and has broken out of a massive pennant pattern. This could signal the beginning of a major bullish run. Price looks to have pulled back and retested this trendline. Trend needs to hold as support with price breaking out into new local highs to solidify this breakout. If that happens this pair could run as...

krugman87

Gold has repeatedly formed and broken out of bullish patterns for most of last year and all of this year. The most recent pattern being a bullish pennant that broke out with further aggressive buying. This market is primed to attack all time highs and could very well cut through on it's way to $2000+. As for now, the next major overhead resistance is just below 1,800.

krugman87

ETHUSD has thrown an Inside Bar / Hammer pattern. This specific pattern is bullish and would signal a continuation of the prevailing trend. The biggest risk I can find with this trade is that there is significant resistance overhead. Given the significance of this resistance level, if price is able to break through it, it could do so very aggressively. As...

krugman87 Updated 

As I posted about yesterday, an Inside Bar / Pin Bar Fakeout pattern was forming by mid day. By the time the daily candle closed this pattern had indeed formed. In addition to being a powerful pattern it had also #1 formed with the prevailing trend and #2 formed directly on top of trendline support. All of these things formed a confluence of factors that...

krugman87

There is an inside bar / pin bar fakeout pattern forming on the daily charts in ETHBTC. Keep in mind that the daily candle is not yet closed so this pattern could possibly fall apart by then, but it is something work watching for now. Inside bar / pin bar fakeouts can be very bullish continuations patterns when formed within a prevailing bull trend, as is the...

09:53

krugman87

In this video I cover some of the techniques I use for trade management. I rarely post about how I specifically manage trades. Enjoy! *Side notes* -2% of 10,000 is $200. I said $2,000 but then corrected myself :) -I stated I have probably haven't lost more than 5 consecutive trades. Honestly, I probably have but it has been a while. Due to my defensive...

09:53

krugman87

In this video I cover the last few weeks of intraday price action on the 2 hour charts. I also talk a little bit about OCO orders and throw out some nuggets of trading wisdom.

krugman87

Silver's weekly candle charts have now thrown 3 bullish candlestick patterns in a row with a triple pin bar setup, and the final pin bar also acting as a bullish engulfing bar. This setup is offering an attractive risk:reward for a bullish upside breakout.