pnovak

pnovak

Same as BTCUSD we need to consolidate to cool the RSI levels. Personally I will load up partial position during the consolidation. We can expect greater gains being made on XLM than BTC.

pnovak

Nice and clear pattern forming, where we have clear entry opportunity. The break will most likely have follow through especially with bitcoin continuation!

pnovak

Most likely we will form higher low somewhere in the rectangle before the continuation. So if you are not yet in position there will be an entry opportunity.

pnovak

As pointed yesterday we are consolidating before the potencial break of the neck line. So far the consolidation is healthy and no red flags. Couple possible scenerios: -increasing bear volume during consolidation would be a red flag for the bulls -brief consolidation as it is now just to cool the RSI would be excellent for the bulls On the break of the neck line...

pnovak

As we see is forming inverted head and shoulders pattern with clear entry level, which is mareked with green line. Ideally we would form another 4h higher low before the break to cool the RSI, if we dont be careful. Another scenario is equilibrium pattern. Either way I will keep you informed in the future. Be prepared for everything (fakeouts) and use stop losses.

pnovak

SPY inverted head and shoulder pattern conformation

pnovak

Elon Musk CEO of Tesla twited great news for Tesla in terms of production rate. So the stock could move up significatly.

pnovak

Nice eq forming, break will give us short term direction. Buy and sell levels marked with green and red line.

pnovak

For the last two times (marked with rectangles) shorts were aquiring like that we dumped signisicantly. So therefore we can expect another leg down! Tell me what do you think. :)

pnovak

Break of the levels marked with green and red lines will give us short term direction.

pnovak

Nice EQ with clear entry levels...

pnovak

NEWS finance.yahoo.com

pnovak

Couple support lines for short term bullish entries. DONT FIGHT THE TREND Still watching for false breakouts...

pnovak

Slow day in crypto. waiting for some volume and volatility...

pnovak

On the chart I marked the recent fakeouts which, as you see, can be great bullish entry opportunities. BUT of course you dont want to buy on the way down. So the strategy is that when we break support level you place buy order (a little bit above) of that support level we just broke and stop loss bellow the recent low (the low we just made). I hope I explain...

pnovak

Equilibrium forming on RSI, so I am expecting break of levels (marked with lines) and there so break of RSI EQ pattern. Make sure you have game plan with stop losses (low volume so there is greater possibility of fakeouts)!

pnovak

I am still in position from break of triangle from yesterday. Personally wouldnt be entering any positions right now because we are quite extended.

pnovak Updated 

Watching range marked with lines. If we break bullish have a game plan established and be prepared for all scenarios (example: fakeout). NEVER WISH ALWAYS TRADE!