📌 ridethepig | The Capitulation Very little to update after a quiet European and NY play. Buyers are clearly in the superior position, as you all know, just a matter of time before we get the capitulation let now. A very quick leg towards $57,000 is in play , we have the open ladder after clearing 161.8% extensions and our enemy is...
📌 BTC Flirting to Break $50,000 This illustrates the perfect gift for valentines , but also touches on the problem of magical technical targets. An impulsive leg, avoiding the 161.8% target for our wave (iii) because it could lead to it being pinned by sellers. Now buyers are better than the textbook move for our , firstly when you think of...
📌 ridethepig | $57,000 in the Crosshairs Satoshi's vision is coming true... Trump impeachment noise going on in the background providing the ebb and flow while the reality beneath the political waves is that the more you clamp down on freedoms, the more the masses realise. There is a significant coming to consciousness occurring, the rate at which shoes...
📌 ridethepig | NZD Market Commentary 27.01.2021 What is in play here? Buyers depriving shorts of their rewards and not allowing the breakdown ahead of Fed. Strategically speaking, this looks and smells a lot like a slingshot. The strong rejection points towards the Kiwi inflows after RBNZ let slip that rate cuts are unlikely. On the Fed side, dollar...
📌 ridethepig | BTC Breaking to Fresh Highs Buyers taking the highs after the news, I have my eyes and now it is time to aim for the home run and initial ideal target at $47,500 - see the yearly close chart below. I managed to carry out some nice bids on the pullback although we failed to clear the $27,000 which was the well-known (C) target in our wave 4...
📌 ridethepig | Altamira re-financing leg Clearly it seems a very fine choice of moment to update the ALTA chart after clearing the first target in accordance with the homerun 2020 idea. This company is getting ready for production, the reliable Juruena gold belt will act as our reliable guardian and for those with a background in Brazilian mining you will know...
📌 Clarification of the manoeuvre designed to show the third liberating impulsive leg The following position was reached after Buyer's attack on the log chart created room for a momentum break. I chose the 'log chart' break (which was a game changer in the opening phase) as the one to track so that we could make use of the whitespace above. The way Buyer's...
📌 ridethepig | EUR Market Commentary 28.01.2021 In this position, we have managed to build a solid floor at the 1.207x area and as widely expected Buyers fought like a lion to defend their jurisdiction. The ECB on the wires attempted to talk down the currency via threatening room for rate cuts, classic jawboning from Knot in attempt to provide shelter. They...
📌 ridethepig | EURGBP Finding a Floor After the preparatory manoeuvre, passive sellers are keeping a close eye on the 0.882x ABC target and already starting to cover. Sharp Buyers were aware of this and made the transition to attempt a base formation. With ECB / FED now cleared there is the customary inventiveness to continue with the rally. What we are...
📌 ridethepig | Bitcoin for FED A superb live example of sellers attacking far out on the flank! These are unusual markets to say the least, rarely has the fundamental/macro picture fitted the bill. Now the correct way to proceed is to hammer at the minor support once breached and aiming for a sweep of Jan 4th lows which are now hanging. It is now...
📌 ridethepig | Jan 4th Low are Hanging! Buyers were hoping to play a ' manoeuvre ' on the pivot level (worth considering that sellers were not having any of it!) the rejection was a flawless setup and quite rightly trailing our stops with some breathing room was the right move . In order to establish a breach of the Jan 4th lows permanently(?)...
📌 ridethepig | EURGBP for ECB Now that we are trading back at the lows in the range in EURGBP, the game is roughly level going into ECB today and we can begin to look for positions once more. In a situation which is very similar to the previous flow that we played from the pivot in December. Continuing to build EUR exposure at 0.885x and looking for ECB &...
📌 ridethepig | Gold Market Commentary 27.01.2021 In the middle of Fed, let's update the Gold chart! Buyers are in the habit of unpinning , by choosing the quiet break of $1,860 and then allowing a quiet congestion to justify this collection of energy based on two premises: 1️⃣ The bottom formation has taken place ahead of the event. 2️⃣ The troops...
📌 ridethepig | EUR Market Commentary 26.01.2021 An important chart update for euro here, which does not require to create a decision, but shows how price rolls forwards undr the direction of price drivers. It advanced quite far and cramped the highs. Finally there is another opportunity for loading on the 1.212x pivot. For the risk cocktail we have Conte...
📌 A Pullback for Chinese Yields This illustrates the notion of development in a change in trend for China's sovereign bond market . Sellers avoided a breakout and are aiming to test 3.00%. On the fundamental side , China is outperforming as expectations are skewed towards favouring their management of the virus and recognisable weakness of the West!...
📌 ridethepig | ETH Breaking Correlation A good example of a freeing move . In similar positions, the break can trigger capitulation , since it opens up a test of the pivot level which is already somewhat cramped and is at the same time the appropriate positional response as we see profit taking in BTC help ETH catch up on the wing! The break ...
📌 ridethepig | Homerun for BTC Here the choice is between another sweep and marking a bottom. The first results in a discovered temporary pullback which allows early buyers to start getting excited... but the second moves involves a slingshot, automatically through the pivot. A quick review of the initial charts we have been tracking ↳ This was the...
📌 ridethepig | Bitcoin Finally Breaking Down The goal of this swing as you all know by now is to test $28.000/$27,000 and show a real seizure of control from sellers. After another -8% today, it's clear in the ST sellers are doing their duty as we approach the first targets. The defence here is very feeble, fresh weakness should be considered indirect fruits...
