mljones

mljones Updated 

It's at the top of the channel and showing weakening on the day chart. It might chop around a bit intraday but overall will have a bearish bias on this at least until it shows strength near one of the median lines.

mljones Updated 

With the break above the Y point it's a lot more likely this is the start of an impulse or at least a choppy wxyxz that's in an upward channel and not just sideways. It's still not exactly clear where the prior C point of the ABC ends from the larger 5 wave impulse that stopped at 10k, so there are a couple combinations to keep track of to see what wave type...

mljones Updated 

I had a script find a signal and now that I am looking at what it did it appears to have found a 4 point which is my preferred spot to enter. It originally gave about a 6 RRR but I am at break even now with a target to take half off at the 1.618 and let the rest run. I would not have taken that trade without the script since I had manually plotted this pattern to...

mljones

Because we're coming out of consolidation from an ABC on the day chart, there are a couple ways to count the bullish exit impulses. Like I posted earlier about not overstaying your welcome on shorts, this would be a great place to keep the bulls from taking anything back if you're bearish. I'm thinking there will be much higher prices to short from relatively...

mljones

Looking like it might make a choppy WYXYZ path to the 2 point at 8600 using symmetry. If I'm feeling adventurous I might scalp the final X point short tonight but only with very small size and very small risk since on virtually all time frames except that I am highly bullish. Mainly I'm looking for the Z point which is also the 2 point. I might leave a limit...

mljones

Keeping an eye on an entry to catch a 2 wave near 8600. This could be the start of several cascading impulses so is worth being near the computer when it approaches.

mljones

It's at the prior 4 point which is a high probability bounce zone for the c point. If you had a short from the 5 this would be a great place to tighten protective stops because it's got a strong chance of snapping back with a short covering rally which will form the 1 wave of the next leg upward. This is a bull year in the 4 year cycle so shorts are actually...

mljones Updated 

I have a bullish short term bias on this, this is a good RRR zone because it's looking like 8550 or so could be an accumulation zone. The low volume it printed on that test of lower prices suggests smart money is accumulating there with limit orders. I'm not staying up all night to trade this but I have my eye on the green support line for a low risk entry.

mljones

I just scalped a small bit long on the AB leg on this and bailed when I saw a very large seller flashing size in Bookmap. I don't really like trading whaley coins like this where it's clear that even a medium size whale can knock price around by spoofing the bid ask ladder. However at the moment it's the main mover on binance futures so it's on my watch list. I...

mljones Updated 

This is a potential short covering rally path based on a very tiny amount of data, just the shape of what might be the 2 wave. It's just a sketch to be filled in as it goes, but I would be interested in some scalps long on the 4 wave areas.

mljones

Shorting from resistance region will be my intraday strategy, when it get back to the bottom of the pitchfork trend line that matches the old 4 point region will be looking for accumulation pattern to go long. Path back to support will be choppy and hard to trade since it's going against the overall long term upward trend. Selling the retests of top of the day...

mljones Updated 

Projecting prior accumulation line with current triangle shape looks like 1600 will be area to look for buyers to support price. Will be watching for double bottom shapes in that area, not buying without additional confirmation. There's not really a good elliot count from the top to work with so this is just a "wait and see" chart.

mljones

This is where short term weak money is shorting on small time frames. It won't take much to trigger their stops and send it higher. I might scalp a little short after a rally but only intraday since at this point I am extremely bullish on all larger timeframes.

mljones

If you're long term on cryptos this is one of the worst places to sell because it's sitting right on top of the trend line defined by historical miner capitulation. People waiting for 3k are going to be disappointed. This line also expects the support region to be at the old all time high in April 2021 which means it will probably reach and exceed the old all...

mljones

CL had been orbiting 56 for a very long time and has finally broken from the range to the downside. Expecting new support around 43 and good day trading entries to be on tests of the prior support region which is now resistance around 52.

mljones Updated 

This is a spot where the elliot count would expect the C point of the ABC after the 5 wave impulse to show its presence with some obvious bullishness. Note that this C point is NOT confirmed yet, it's still just a potential region. I'm mainly in HODL mode and expecting a pretty big run up before the halving so I am just watching this from the sidelines. I am...

mljones Updated 

It will soon be unprofitable for many miners to produce more BTC and this has been a great signal in the past. I'm watching this pretty closely for a crossover.

mljones

Barts (AKA bull or bear traps) are a common pattern in cryptos. The OBV indicator can be useful for detecting Wyckoff style accumulation or distribution. It's especially useful for Barts which have a very flat section of price action which makes the OBV divergence very apparent in some cases. If you see a flat zone that looks like a potential bart, track it on a...