norok

norok Wizard

The beauty of studying price action is that a trader can apply their skills to ANY instrument, timeframe, and market. Just as the 50% retracement works in cryptocurrency it of course works in stocks. This happens to be a trade that I was able to catch. It took more than a day to trigger when NYSE:LLY pulled back to the 50% retracement for a 4th time. A very...

norok Wizard

Most all traders have brushed up on their Fibonacci levels. Some like the 61.8% retracement for entries. Others like to use them all and clutter their charts with lines every 0.5 points. I like to keep it SIMPLE and admire the beauty when price just respects the halfway point of the 50% retracement. I noted this in another post a few days ago about ...

norok Wizard Updated 

I honestly have no idea what this coin is other than one with a funny name but it is among the high market cap cryptocurrencies so I put it in my Tradingview signals alerts for potential breakouts. While the other big coins have experiences a nice run up BITFINEX:OMGUSD has definitely lagged. Now it is setting up a rather clean breakout of a consolidation...

norok Wizard Updated 

I am normally averse to jumping into something that is already on a run but the strategy I worked hard to develop that tracks periods of price consolidation prior to breakouts triggered signals in both BITFINEX:BTCUSD and BITFINEX:ETHUSD . I would be remiss to not follow my rules and call out that after the last pump the price action has slowed down. When...

norok Wizard

A friend of mine send me a question yesterday, "hey, curious question. how much was the a great day / swing/ scalp trader looking to make per day prior to Bitcoin?" This was my answer yesterday: That's an invalid question to ask a real trader. A trader takes what the market gives them. One may go days, weeks, perhaps a month without a signal that fits...

norok Wizard

Some might be feeling a little cheated by the relative underperformance of BITFINEX:ETHUSD versus Bitcoin as can be seen easily by looking at a chart of the cross BITFINEX:ETHBTC . However, I think folks might feel better if the put their holdings into perspective by looking at the alternative of "doing nothing" compared to just having your assets in cash over...

04:48

norok Wizard

It is readily apparent by now that BITFINEX:BTCUSD is on a run for the last ATH. When the price of something is this close to such an obvious level with momentum it is a very high probability bet it is going to reach it and even break it. But what then? You have to BE SMART. A lot of people that don't watch this video are going to FOMO and I pity them but...

norok Wizard

NASDAQ:TSLA had some beautiful price action worth noting today. It held the 50% retracement level of the day's gap. What was even more interesting was the lower timeframe price action on the 1minute (see screenshot). After holding the 50% retracement on the medium term timeframe it also held the 50% retracement of the move off the support as a fractal of the...

norok Wizard Updated 

BITFINEX:IOTUSD really failed to capture any of the bullish momentum of the last week. It was a definite underperformer among the highest volume cryptocurrencies. This morning triggered a signal that the volatility has slowly decreased into a wedge with a potential bearish breakout setup. Because this was the lagger of the recent momentum I'd say this is one...

norok Wizard Updated 

I received a signal that BITFINEX:LTCUSD was starting to consolidate with low volatility into a BBK Squeeze on the 60m timeframe. The pair has had some very clear structure over the last many days holding 50% retracements of its moves upwards. With this consolidation sets up a potential breakout trade for it to break its most recent retracement level with a...

20:00

norok Wizard Updated 

So today is rest and research Sunday and I wanted to share with folks how I go about creating new strategies and indicators. Hopefully this can teach traders to fish rather than giving them just the fish (of a buy/sell signal!) I was inspired by watching a Youtube podcast Desiretotrade by Etienne Crane where I saw on his chart arrows indicating where price...

norok Wizard Updated 

BITFINEX:XRPUSD threw off a signal that on the 60m / 120m timeframes is starting to squeeze with lower volatility. A good trade might be found as a breakout do the downside though any breakout of the squeeze has a high probability of a significant move.

norok Wizard

This week two cryptocurrency opportunities happened in BITFINEX:BTCUSD and a similar one in BITFINEX:ETHBTC . Both on the 30m/60m timeframes had the BBK Squeeze which alerted me to them. I have to admit that for most of my trading I have shunned the use of wedges as a technical indicator pattern. That is changing now with a new appreciation. The reason is...

05:39

norok Wizard

I'm really proud of my trade and position on NYSE:CMI not just for the profit but the beauty of clear price structure which I wanted to share. This is clearly a BULLISH stock on a run but within it are some positive teachable moments. Multiple times it has held CLEAR price high/log inflections along with 50% retracement levels. Trades like this are why I love...

05:16

norok Wizard

This afternoon after 1pm in the "zombie hour" there was actually a great trade on AMEX:SPY . I missed it because I was at the gym when the signal came in but I wanted to make a video about it for my own posterity as to what makes a "GOOD TRADE!" What made it a good trade is that the reversal signal occurred right at the 50% retracement of this week's big price...

06:44

norok Wizard

I wanted to share my research for today in a pattern I have begun to notice regarding the BBK Squeezes. Often times a "squeeze within a squeeze" is a great precursor to a breakout move. This really just goes back to the classic chart patterns of wedges and flags which many people use to great success. By coding it up though it lets me do two very important...

norok Wizard

Using BBK Squeeze to predict upcoming price breakouts has worked quite well from a probability standpoint on BITFINEX:BTCUSD over the last year on the Daily chart. I like it because once I can see it is SIMPLE. However, I am constantly trying to make SIMPLE... BETTER! LOL Still research and developing ways to better filter the signals for even higher...

norok Wizard

Got a signal alert this evening just as price was able to break out of the squeeze