Bitcoin BTCUSD Update If you got long again at the ridiculous hour of 11.30 pm est you're hard working and deserve your 400 points reward. Weirdly the crypto chat room was quite quiet with a guy from London waiting for the BCH burst to top out so he could bail out and fade the consolidation. London's finally catching on. 2018 will be so fascinating and fast...
IOTA IOTUSD The rally yesterday fizzled out from the upper parallel of a newly forming continuation pattern. Using a trailing stop under the day's little dynamic that had underpinned the rally from inception at least meant escaping the worst of the ensuing decline by triggering an exit at around 4500 but it was a poor call nonetheless. If you reversed short on...
Bitcoin BTCUSD Update A speccy buy in the 16480-16410 range with a stop below 16400 for small loss if wrong here. If it falls away further from 16400 will look to enter again later from lower down, from 15810 if touched. It is trying to turn back up here and needs to clear 16652 and hold above there to confirm that the trend has turned back to positive from...
IOTA Update Dynamic Stops Another rally attempt cut in the bud. We went long here on break above 3311. Because we're using dynamic stops under the little trend line that supported the rally we exited the long at 3720 for a 12% win on a bad day again. Once again the majority of the gain was trapped in and left you free to buy again at the original price,...
IOTA IOTUSD Update Trying to base here - Buy points Within minutes of publication the little dynamic support line that had held upyesterday's rally was broken, flipping IOTA from positive back to negative on a dime. Stops for longs were running up under the parallel as price moved north. Well it was good whilst it lasted but once that little dynamic was lost...
ETHUSD Reevrse Long here If you got long as ETH came back to the support at 418 it's a nice trade. But close out now and think about shorting here with stops above 434...it's still vulnerable right now to another big sell off back 410 and if this fails back to 385 where we should be looking to buy again with stops under 380 for rally to 410 where we sell...
BTGUSD Back in buy zone at 306-300 Longs should have closed out at the 320 target and now BTG is back in the buy zone at 306-300 range -it can potentially spike down to the lower parallel at worst before the rally resumes. Look to accumulate on weakness with stops placed below the parallel or can try at 306 with very tight stop at 303 for small loss if wrong from...
Brent Crude Oil UKOIL Back in the Buy zone Well the stop on the short from 63.77 never got hit and Brent duly came off back to the first target at 63.10 for a small 65 pip win - but should have held it longer as it then went on to test the lower parallel of the flag, bang on 62.17 support at the same point in time, and has since rallied much more strongly...
DXY Dollar Index Update Near Term Neutral but Dollar Trying to Base DXY did come off from where it was meant to last week but has put up more than just a fight so far in the 92.74-92.50 range. The fight back was to be expected, but it's doing better than envisaged so far here - and these conclicting signals urge caution now ...no interest in getting involved...
ETHUSD ETH is breaking down and extremely vulnerable whilst below the resistance line falling from the highs. It's a sell off that line, with stops above it. It looks like this will fall away in stages, with each fixed line of support offering a chance for day traders to close shorts and then sell again as it rises to test the line above it. There are some nice,...
LITECOIN: LTCUSD Negative now due to Bicoin weakness Things have taken a turn back into into negative territory for Bitcoin and Litecoin has suffered as a result. What was fine yesterday is now very vulnerable because of Bitcoin. Bitcoin itself is very negative and should fall another 1000 points from here. But it's making a feeble counter rally right now and...
Ethereum/Dollar ETHUSD Straining against resistance from the old hgh at 420. Be very careful here. The range between the two blue lines is full of whipsaw. Take Profits or short from the top, with stop above the top blue line, looking for support again at the lower blue line. Only go long again on a break above the top line, supported by successful retest
Silver: XAGUSD Look to Buy Dips It's just about bearish enough to go long here. But no one seems very interested. It's likely to need the dollar to break below it's lower parallel (see DXY comment for back-up to this trade) before interest picks up here. One thing it has in its favour is those pin bars forming off the dynamic support shown on the chart. It's...
Dollar Index: DXY So far DXY is displaying precisely the kind of technical price action you'd expect of something in the process of breaking down lower...the tiny continuation pattern with a bearish upwards slope, every move contained within the parallels that control this inverted flag formation. The dollar will try to rally from the lower parallel of the...
BRENT CRUDE OIL UKOIL Stuff and Nonsene Brent is expected to move up to 68.06-69.47 range over the coming couple of weeks where it becomes a sell again with stop above 70.00. Buy dips to the lower parallel if seen at any point during this rally, looking to sell again when the upper parallel meets price in the 68-69.47 range in a couple of weeks' time. WTI...
WTI: USOIL See that Wave? Use it. It's free power. The impulse wave on WTI is not quite so perfect as that on Brent (which is creating one of the most perfect trader- friendly waves ever seen right now, check it out). But the wave is beginning to take shape here nicely now too and looks full of intent and stored energy, ready to power it higher over the next...
Bitcoin Update Key Levels from Here Stopped out of longs at 7700. Bought aagain at 7680 with 50 point stop early in London. Lucky you if still in bed! We should be long again from 7570 now as per last comment, and stops can placed under low today (7530) by 30 points, so 7500. And for day-traders and those wishing to run tighter stops, 7717 is still the line in...
Brent Crude Oil UKOIL Slow Burn Brent is beginning to drift away from the upper parallel but it's taking its 'sweet' time to do it. I should come back down to the lower parallel given time, bouncing at 61.70 and eventaully hitting 60. In an ideal world this will occur around 20th November at the point where fixed and dynamic supports meet. Stops for...