theflamingfalcon

theflamingfalcon Updated 

I have already entered a short on AUDUSD due to the double top area and evening star rejection. My stop protects me from a move up unless that move invalidates my trade. This trade may not move until Sunday evening/Monday and if you didn't get involved just wait for a flag.

theflamingfalcon Updated 

USOIL just impulsed from a large bear flag and appears to be forming a smaller bear flag continuation for a re-entry short position to go lower. Potential bounce areas are shown in ray lines. Position is confirmed with impulsive break from flag, set your order and tight stop loss right above the flag pattern. Position is invalided if pattern forms a downward...

theflamingfalcon Updated 

EURAUD Short is confirmed. Correction is nearing end but can last another hour or so but should be seeing another momentum push downwards towards our first target shortly. 2nd target is a potential but if reached will happen over several larger corrections.

theflamingfalcon

Bitcoin saw a nice $300 push up this morning but it is not based on a solid footing and as quickly as the volume comes it drops off. It is important to note this was a push off our channel support line which is a good sign and what we like to see... but we are still headed down and this will be short lived. Levels to watch would be 7.7-7.9k area and 9.2k but we...

theflamingfalcon

We have been struggling in volume and we only see volume pick up when we start selling which is a bad sign. We are in a descending wedge which could break out bullish but based on market conditions and sentiment we are most likely to continue bearish. Volume is low and dropping off as we continue our slow drop. BTC could break out above or breakthrough, but again...

theflamingfalcon

Today should be the decision maker on whether we actually break out or not because so far we have failed to break out, not only at this junction but also previously. If this daily turns bearish we are most likely in for a return trip downward before going back up. So keep a level head, watch for a confirmation of breaking out or a confirmation of dropping lower....

theflamingfalcon

So I have plotted the scenarios for BTC, please note that it has not been accurately plotted for actual times so dates/times may be off but prices and levels are all based on correct support and resistance areas and if we break through each support or resistance point there is secondary scenarios to play out. The most logical right now is if we break through 9200...

theflamingfalcon Updated 

Just a short thought on where we are at - I am seeing way too many people still claiming we are only "pulling back" and then heading to 13k. These people do not understand that we need to break 11.3K (our trend line and FIB retracement) before we can even consider 13k a possibility. We are being pushed down right now, low volume, FOMO activity is all that is...

theflamingfalcon Updated 

So just a few thoughts. It looks like the 50 day (red line) is again crossing under the 200 day which has historically seen very bearish movements. We can also see patterns of false breakouts, highlighted in MACD that are followed by continuation of downtrend. And of course we are seeing several divergences, I show one in this chart. Buyers have no conviction,...

theflamingfalcon

On the daily we have a large hidden bearish divergence. A hidden bearish divergence of this length is rarely wrong. We have bounced completely off both the bearish trend line and closed below it, we have also fell back through FIB retracement line .382 which is a important line to break. We are seeing bearish signs in MACD in 4 hr and several different bearish...