ETHUSD Update: Consolidation breakout to 310 off of the higher low formed in the 280s. This is a bullish sign and implies further strength, with a reasonable target in the 320s.
I have been long from 298.84 for a number of days, and actually got stopped out of half of my small position after making an adjustment (this is all explained in previous reports). So I...
BTCUSD update: After retracing to the swing low of 5365, price appears poised to retest 6k again, but what to expect from here? I wrote in my previous BTC report that this market has more bearish signs in light of the Elliott Wave count, but after this bullish swing, the count may be thrown into question. Is this market nearing the peak of Wave B of 4? Or is this...
ETHUSD update: Price is fluctuating in between the .382 and .618 support areas that I wrote about in my previous report. I am long from 298.84 (as mentioned in my update) with my stop now adjusted to 279. I will explain.
After reevaluating the price history along with 283 being within the .618 support zone, I thought it would be better in this case to adjust...
ETHUSD Update: 304 trend resistance taken out quickly while price is holding above the level, on top of the fact that this level also corresponds to a recent lower high which means momentum is now decisively bullish.
I wrote about this level in my previous report, but I did not think it would be compromised so quickly. Like I always say, anything can happen. The...
ETHUSD Update: The 295 support is compromised again, but price has not been selling off hard. The 286 level is the support that price has rejected significantly and I believe this area offers lower risk opportunities for long swing trades.
My previous trade was stopped out at 294, and I am back in at 297.63 (30% of initial position size) my new STOP is 283 and my...
ETHUSD update: Failed low (double bottom) formation appears on 1 hour time frame which is a trigger for a swing trade long. I am in from 309.95 (50% position size) with a target of 335 and STOP of 294. Reward/risk is about 1.5/1 (this will change as I make adjustments based on new price action). I updated my previous post as soon as I took the position.
The push...
BTCUSD update: Price breaks out to the 6k key level. Based on the price extension from the current bullish swing, a reasonable target after the 6k break is the 6220 area, but as prices rises, so does the risk.
I am not one to paint rockets, but the breakout in this market is a sign of strength that should lead to higher prices in the near term. The pullback to...
ETHUSD update: 315 support reached as pin bar appears on this time frame to show a possible double bottom formation. I am long at 321.24 (50% of position size) with a stop at 314 and target of 345 Risk/reward is about 3:1).
The retest of the 315 level has played out as I wrote about in my previous report. And the price action at the moment is showing a bullish...
LTCUSD Update: This market breaks out above the 57 range high back into the mid 60s and is just below the 69 to 80 resistance zone. It is coming from a higher low at the 50 level (I wrote about this previously) which is a structure that implies further strength.
I wrote about the failed low at the 50 level over a week ago and in light of the BTC rally this market...
ETHUSD Update: 350 high is reached which is just under the 352 border of the .618 resistance zone that this market has been hesitating below for weeks. 357.50 is also the 1.618 extension of the entire bullish swing which serves as a potential target.
The move in BTC is impressive and highly irrational, but the move in ETH, although promising, is not that...
BTCUSD Update: New high made at 5420 which is just above the 5385 level which happens to be the 1.618 extension of the entire recent bullish swing. This is pure greed and euphoria in action, and for those who do not know yet, a hot market usually cannot sustain this rate of momentum.
I have been cautious up to these highs and I am staying away from any new swing...
BTCUSD Update: Impressive move to 4940 which now puts this market within striking distance of 5k with a proportional possibility of 5109 (2.618 extension of current swing). Any hesitation from here also brings up the massive double top scenario which is why I am staying away from all of these markets at the moment. In my opinion, the higher it goes, the higher the...
ETHUSD Update: Bullish momentum takes price back up to 315 high while BTC touches 4500. Is this the time to finally give in and buy? NO. When a market looks obvious from a conventional stand point, that is usually time to sell or avoid. Let me explain.
I have been writing about bearish signs appearing in BTC and in this market for weeks now. Minor retracements...
ETHUSD Update: Lower high in place at 301 to 307 area which has occurred after the break of the 291 support (.382 of bullish swing). This is another bearish sign that shows this market is more likely to sell off, rather than go to new highs.
I have been writing about this market and BTC for days now. The wave counts have been pointing to further weakness even in...
BTCUSD Update: I have been explaining my bearish reasoning while the price continues higher. Is it still bearish? Yes and I will use this chart to help explain why.
As I wrote in my previous BTC report, price is in the middle of a major resistance zone which is the 4203 to 4548 area (.618 of recent bearish swing). It is a very wide zone which means short term...
Looks to me like the USDJPY pair is on the way to test the high from July 2016 at 107.50
Around that level is the EMA200 which will be a resistance.
If the Bulls' have collect enough strength to break trough and close over the EMA200 and the High from July 2016, i will expect a bullish movement towards 111.00
