HughGRection

HughGRection

So far on the downtrend from 20k, we have had a series of 3 bearish pennants form. The first two were textbook and led to nice continuations downward. We are now nearing the end of the 3rd bearish pennant. If this pattern plays out as expected, prices should remain capped near 14k(bitfinex/binance feeds). On the downside, I'm looking for a solid break of 13k to...

HughGRection

QTUM is back down at what has been a bottom several times for a while now. There are a large amount of buyers near 0.0024 and right below. Huge divergence showing on the RSI, and the stochastic looks poised to cross back out of oversold. This area coincides with an important Fibonacci retracement level, and it appears likely to make its way back up to one of the...

HughGRection

On the daily chart, Bitcoin's overall trend is still in bearish territory, but there is reason to believe we will find some support soon. The 10 period VWMA is below the 20 period VWMA. The current price is in the channel between the 2 and 3 standard deviation Bollinger bands. This is an indication of a strong downtrend, but it's a very likely area to see...

HughGRection

A bullish pennant appears to be very near completion. A break from this wedge will be coming soon regardless of direction. This is generally a bullish symbol though, and NEO appears to have a lot of momentum still behind it. Also, NEO has retraced completely to the 61.8% Fibonacci line from it's most recent rally. The 50-61.8% lines tend to be the full retracement...

HughGRection

TRIG has just broken key technical resistance, and appears to have started it's next leg upward. There are still a lot of sellers around 0.00024 - 0.00025 BTC, but these sell orders are steadily getting cleared out after the break upward. Ideal entry point is near a retest of the recent high near 0.00022 with a stop close below 0.000205 depending on risk...

HughGRection

TenX(PAY) has been massively sold down. It has retraced all of its rally from August 10th, and about 85% of it's total August rally. This was compounded by the panic caused by Bitcoin's recent correction. As long as the correction in BTC is over, it looks likely that TenX will continue to rebound. There are very bullish candle patterns and price/momentum...

HughGRection

OKCash has seen a huge run up the past couple of days while everything else has seen a large flight of liquidity. It could potentially keep going up from where it is, but it appears most likely to correct before making much progress upwards. Right now it is barely hanging on to the 10 period VMWA on the H1 chart. There are huge walls of sellers around 0.000083 BTC...

HughGRection

It's hard to say how long term this top will be, but there are many signs pointing to some sort of correction happening. I've put a couple different scenarios on the chart depending on how serious the outflow of equity is. IF BTCUSD does have a substantial breakdown, this will drive a lot of liquidity into Alt Coins as cryptospeculators are hunting for yield.

HughGRection

- I've highlighted the areas where the USD/JPY correlation with the Nikkei has broken down in the past calendar year. These periods happened to be during declines or flat spots in the USD/JPY. They made up almost all of the significant down trends in the past year as well. The main glaring exception is the decline from the peak at 103.726. My assumption is that...

HughGRection

- After correcting at the previous 2 year trend line and 200 day MVA, the dollar has found support at the 0.382 Fibonacci retracement. If you take a look back over the past couple years, this has been an area of pivotal support/resistance numerous times. I expect a bounce from this level to retest and possibly even break the previous trend line as long as the RSI...

HughGRection

- I've been stalking this trade for a while, and everything for a downside scenario has finally come together. - We've formed a pretty clean head and shoulders pattern right at the top of a multiyear wedge. - This pattern is strengthened by a break of the trend line from July, but will be confirmed by a break of the neck line at 1.59. This also happens to be the...

HughGRection

It appears the USDJPY perfectly obeyed the Ichimoku cloud on the monthly chart. Now that it has corrected into the 9 period moving average, the stochastic is starting to show a turn to the upside as well. These clues along with the still almost perfect correlation to the Nikkei 225 give me the impression we will see the start of the next leg up soon. If this...

HughGRection

- There are 2 current bullish divergences on the RSI. - This could be easing of short positions into the event risk, or possibly an indication of a positive USD reaction to the NFP's. - Obviously this will depend on the actual data, but even a release in line with expectations should produce a relief rally to the USD. It is currently heavily oversold against...

HughGRection

While doing some analysis I found an interesting correlation between the current divergence showing up on the SPX and the divergence shown before the last major correction. Obviously we are in a 4 year bull market, but the position in this trend channel may offer some insights. - The last time the S&P 500 broke into the top quarter of the channel, it stayed there...

HughGRection

First, I'd like to focus on the technical indications of ebbing market momentum. The S&P 500 was able to finally break through to a new all time high, but it has shown a lot of hesitance since then. This shows up in the divergence between price action and the MACD(higher highs on the SPX and lower highs on the MACD). The case for weakness is made stronger by the...

HughGRection

- FOMC minutes in yellow, FOMC meetings in white 4 out of the past 10 FOMC Minutes releases have resulted in a reversal of the DXY trend that was set in place from the previous FOMC meeting. Each one of these reversals showed a divergence between price action and the RSI. That same indicator is showing up again prior to this release of the FOMC minutes. The DXY...

HughGRection

- DXY resting on 2 year bull trend line, 0.382 Fib, and lower BB - MACD still positive - ATR at support along with the upcoming paradigm policy shift implies we are nearing a large swing

HughGRection

- Very strong support at intersection of 10 month trendline & 0.382 retracement of that rally - DXY will see a strong bounce if retail sales & jobless claims are positive - DXY should see a moderate recovery if data is mixed or flat considering how oversold it is - DXY should continue falling to 0.5 fib if numbers are disappointing