I compare the situation at 01/01/2019 with a few days previously (see video 4 min mark in screencast below). I've extracted value in this experience because this scenario and one similar in ETHUSD, leads me to a better confidence about spotting trend weaknesses and getting earlier on trend changes. I focus on curves in relation to trend-change indicators....
This is well beyond technical analysis - into the domain of human psychology.
In this video I theorise on exploiting FOMO - which is psychological phenomenon - instead of just being a victim of it. I look briefly at Ehterium as well.
An important thing for all markets is that the point of greatest fear is also the point of greatest opportunity.
People certainly think that Bitcoin has value! How do I know? Because there is incontrovertible evidence that in recent days people have gone greedy for it. However there is expert opinion (which shall remain nameless) that Bitcoin is NOTHING and has no value at all. I'm really amused by this opinion because it flies in the face of evidence.
The chart shown in...
US Oil presents some serious challenges for those looking to short this market.
This analysis is time frame dependent. Which way you might want to go depends entirely on trends in respective time frames.
1. On the daily time frame this is very much a bull market. We can see that in the ATR (amber trendline) and the green Guppy investor zone.
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Can you guess which one it is?
Notice I have "SHORT ONLY" at the bottom right of the screen. Anchored text will appear on any time frame, so if you flick from Monthly to 15 minute it will always appear on screen in the same location....
Price has consolidated in a stable zone and in the 1HR time frame it has created a triple top.
Stoch and RSI are both oversold but bearing in mind this trade will be taken only with price action however indicators were only used as a form of confluence not a confirmation.
USDCAD is currently pushing price up to form an M reversal pattern near my zone. The first leg has already formed in 1HR and now the second leg of the pattern is forming. (Double top).
- price is also respecting the 50ema dynamic support in the 1HR time frame
How I will be entering:
- I will be waiting for this current bullish candle to close and possible wick...
XAUUSD is currently trading below my 50ema on the 1HR time frame. It has also broken one of my zones with a nice bearish candle.
Price has been creating Lower Lows and Lower highs since 10th october.
There is also no High Impact USD news for tomorrow.
How I will be entering:
I will be waiting for a retest of the current zone where price is.
Upon which I will...
DFX has increased 130% in three days and has found resistance at 50 moving average. A pull back is always highly likely after these big moves so I am looking to short the market and profit from the pull back. My first profit target is placed at the prior support line. I usually like to wait for negative divergence before entering these trades but as the increase...
In the screencast I show two possible head and shoulder patterns - with a degree of uncertainty.
The bigger issues are signs of a trend change and momentum developing for the south. So, it doesn't matter at this stage where the base of the head and shoulders is. It is a no-loss position I'm in at the moment.
A beautiful reverse pattern in the EURUSD invites to a short trade.
What are the signs for a short?
perfect evening star formation
CCI turns again below 100
changing monetary policy
How could a trade look like?
There are several possibilities.
Short-term trade: Entry immediately, SL at 1.1979 and TP at 1.1718
Medium to long-term trade: Entry...