BTC - A look at the Weekly Chart:
BTC is still above it’s 50EMA on this weekly timeframe.
BTC is below its Bollinger Bands Middle Band Basis 20 Period SMA on this weekly timeframe. Note that the Lower Band has risen up indicating volatility has slowed and now brought back into equilibrium for this weekly timeframe. Note that the Bollinger Bands Upper and Lower...
Monthly , Weekly trend is downward so there is alignment
Look for entry at 0.72 - Daily Bollinger
Only enter if Hourly closes below
No stop loss - get out of the position wherever it is, after 96 Hours (4 X 24 Hours)
Good luck
Although Gold mostly moved sideways today, closing up 3 points on the day. As price moved up in late afternoon trading, I did enter a short position for the following reasons:
1. Price has stalled well into the overbought upper Bollinger Band territory
2. Friday's shooting star followed by Monday's doji indicate to me that the upward momentum is waning
3....
On Monday, Gold continued Friday's move up and rose 2.1 points to close at 1254. I have highlighted the month long range on the chart. Price also closed above the 7 day moving average and the haDelta has turned back to blue. In addition, the upper Bollinger Band has started to move higher to 1271.90 And the Heikin-Ashi chart below shows a strong potential trend...
Natural Gas continued to move lower and through the Ichimoku Cloud. Next stop looks like the 21 day moving average, the gold line in the middle of the cloud. Remember, hitting the 21 day moving average after a breach of the 8 day moving average, is a high statistical probability.
Disclaimer: This post is for educational purposes only. Trade at your own risk.
Gold closed 6.6 points higher in the first full day of trading after the Fed announced a new interest rate hike. Price closed above many of the moving averages, including the 6, 8 50 and 100. It also closed above the 21 week moving average. In addition, as I called out yesterday, price did tag the 21 day moving average as was expected after the close above the 6...
Natural Gas gapped up Sunday night to open the week. After touching the 21 day moving average, natgas closed lower, just outside the cloud. I closed my position near the high of the day, taking profits. I am now flat, watching to see what happens during the week.
Natural Gas gapped down at the opening of trading on Sunday and continued it's selloff. While this bearish move is overextended, there's no indication yet of any kind of retracement. The doji candle last Friday is now signaling more downside movement.
