Friends, as you can see from the linked ideas I have been able to use fib levels to good effect when predicting where price will go. Let's use them once more! As we can see, the Nasdaq (as well as several other indices including the all-important Russell 2000) have been bouncing off respective fib levels. Russell once again seems to say GO. This time, however, I...
Almost always, when something goes parabolic then breaks its trend line, the aftermath is brutal. Bitcoin too. Tulips also. Uranium. Gold. Silver. Oil. Etc. Know this pattern, and profit from it. -Ian
We've got harmonics (0.618), (0.5 of entire move), volume profile, structure...looks like a go to me. Initial target is the 0.382 retrace
Bullish divergence on on balance volume, 3 drives pattern? Just looks like it's done. Target the opposing trend line. SL 25 pips or so below 0.703...whole number :)
There are 2 fib extensions, ABCD pattern, and previous highs...excellent place for a short position. Only target the 0.318 retracement since this is a strong bullish move. 3:1 reward:risk
Forward testing a discretionary trading system for a month
I am doing a month of paper trading to forward test a discretionary trading system
Nasdaq is the strongest of the US indices. Buy the strongest, sell the weakest (RUT). Price just broke pin bar candle after making double bottom. Extensive fundamental analysis shows that unlikely market should enter bear phase at this time, although upside limited, thus buy the dip one last time. We can now buy and aim for previous highs as an initial target....
Dear friends, after the most recent bear market, price volatility and volume have subsided, but price has held constant. This appears to be the "doll drum" phase before the next bull cycle. In fact, I believe (based on current price action) that we have reached the tipping point, passed the 50% mark, where prices are now going to be rising (on average) at ever...
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I haven't used the Bitfinex shorts graph to time my positions, but with short levels at highs and prices at relative lows, it seems like the perfect setup for a short squeeze, which will of course cause a seismic move in price. I am, therefore, going to be biased to (attempt, may not catch it of course) trade consolidation breakout long. Frankly, if we do get...
I don't see how it can recover. We should be able to finally break this strong level to the downside.
Hello friends, it appears there's a diamond formation here, a break up or down should have some trading significance is how these usually are. Longer-term we may be topping out for the time being. Careful!
Bitcoin has clearly (in my eyes) failed to bounce off important support, and instead, violated and is now trading below it. Bulls will have a very difficult time pushing upwards, the 6800 level is the next stronghold to retreat to.
Hello friends, as described in the idea linked to this post, I anticipated BTC reaching the $9050 level due to the 0.786 retracement and previous retrace patterns. I expect a bounce at the strong support of $7600, with stops below $7340. There are 3 major supports in this area: first we have all the activity in the area, then we have the long-term trend line, and...
Whether or not a reversal is in the making is the big question. On Friday, markets were significantly positive until Trump renewed threats on 500B worth of tariffs on China, which resulted in a slight close lower on QQQ. With the president going after Iran etc there is significant Geo-political risk. Apparently earnings are the week focus, so in the case of...
Friends, as we can see here, the dollar index has been trading in an ascending range for some time now. This range is becoming tighter, narrower. At some point a break of either trend line will occur and the result is likely to be a long and very profitable move! Stay tuned
Hello friends, it appears the Russell 200 is ready to bust above the current chart formation. Russell breaks of major trend lines have been major indicators of micro trend changes reliably in the past. A failure or break below this flag would be extremely concerning.