Trader6127

Trader6127 Updated 

Confirmation: 5230.14 / 6744.91 (at wick resistance) Invalidation: Local high Type of Trade: Untested countercyclical (EMA50 fresh above EMA200, high risk of fake out) Target: 1991.97 TF: Daily Leverage: 3.3x Pattern: 1) bearish megaphone reversal pattern with 2) untested EMA support, 3)untested 3/1 Gann (!!!), and 4) untested 4/1 Gann. PS. Please don't...

Trader6127 Updated 

RY has filled a gap created back at the beginning of 2018 and we also see a potential large double top formation on the daily and weekly timeframes that is being formed by rejection. This is an opportunity to position short for a new downtrend on the lower timeframes, looking for support on the 8/1 Gann and as low as the 4/1 Gann. On the larger timeframe, don't...

Trader6127

Currently Bitcoin's monthly NVT (PE ratio) is heavily over extended. This indicator is historically accurate for indicating market tops. Daily: Weekly:

Trader6127

Manufacturing sentiment data for April has fallen lower to 52.8 which is toward contraction territory (below 50), failing to meet industry forecasts of around 54.7. Currently forecasts for May are hovering around 53.6, but this would only be a bounce within the overall downtrend and actual data may be lower. What does this mean? BTC prices are likely to sink...

Trader6127 Updated 

Confirmation: 291.80 (early) / 145.80 (late) Invalidation: Local high Type of Trade: Cyclical (EMA50 below EMA200) Target: 70.3 TF: Daily Leverage: 3.3x Pattern: 1) bearish flag pattern with 2) EMA200 resistance, and 3) strong 1/4 Gann resistance.

Trader6127 Updated 

Confirmation: 84.28 (early) / 53.37 (late) Invalidation: Local high Type of Trade: Counter-cyclical (post-golden cross) Target: 24.55 TF: Daily Leverage: 1.5x Pattern: 1) rising wedge reversal pattern with 2) golden-cross trap, 3) untested 1/4 Gann.

Trader6127 Updated 

Confirmation: 5235.47 (early) / 3843.60 (late) Invalidation: Local high Type of Trade: Cyclical (EMA50 below EMA200) Target: 1991.97 TF: Daily Leverage: 3x Pattern: 1) bearish flag with 2) previous bearish impulse wave, 3) EMA50 below EMA200, and 4) untested 3/1 Gann.

Trader6127 Updated 

Confirmation: 168.86 (early) / 130.01 (late) Invalidation: Local high Type of Trade: Cyclical (EMA50 below EMA200) Target: 55.46 TF: Daily Leverage: 3x Pattern: 1) bearish pattern with 2) previous bearish impulse wave, 3) EMA200 resistance, 4) limited 3/1 Gann, and 5) strong 1/4 Gann resistance.

Trader6127 Updated 

Bitcoin is hanging at the top edge of the no trade zone established over the last 6 months, this is a classic area for price to turn around so watch for a big market breakdown around this $5,235 price level. If you have been following my trades you will see that I have flagged it as a good shorting level. As well, we can see there is a formation (red line)...

Trader6127

Weekly view: PS. I've got a bullish view:

Trader6127 Updated 

Confirmation: 55.53 Invalidation: 52.87 Type of Trade: Cyclical Pattern: Bullish Flag How to interpret this data? For longs: Altcoins (i.e., ethereum, litecoin, bitcoin cash, etc.) likely to underperform Bitcoin. Altcoin traders are likely to convert holdings to Bitcoin. For shorts: Altcoins shorts likely to outperform Bitcoin shorts.

Trader6127

The Bitcoin "mining" industry which sustains the infrastructure for the Bitcoin network can be compared to manufacturing. If we compare the price of Bitcoin to the Manufacturing PMI (which measures the sentiment among managers in the US) we can see a significant degree of correlation. While the potential causal mechanisms still require rigorous study, we can add...

Trader6127 Updated 

Confirmation: 5127.20 Invalidation: 5320.74 Type of Trade: Countercyclical (EMA50 above EMA200) Target: 4583.3 TF: 1HR Leverage: Max Pattern: 1) Bullish flag breakout failure, 2) daily resistance, and 3) weekly resistance.

Trader6127

Steve Eisman (depicted as Marc Baum in The Big Short movie) has publicly revealed the institutions he is shorting in anticipation of the next wave of credit normalization. They include RBC, CIBC, Home Capital Group, and Laurentian Bank. Steve has not revealed his targets or how far exactly the trade will go, so the estimates on the chart are my own. As you know,...

Trader6127

Confirmation: 4978.55 Invalidation: 5081.37 Type of Trade: Countercyclical (EMA50 above EMA200) Target: 4706.31 TF: 15MIN Leverage: max Pattern: Descending channel

Trader6127 Updated 

Confirmation/Entry: 124.46 (ideal) / 188.78 (early) / 227.89 (risky +) Invalidation: Local high Target: Three targets on chart TF: D Leverage: 2x Pattern: 1) Weekly bearish impulse with 2) break of weekly EMA50, 3) death cross on daily, and 4) daily EMA200 resistance. Weekly snapshot. Notice the trading between the EMA50 and 200.

Trader6127

Confirmation: 4040.86 (early) / 3916.87 (late) Invalidation: 4193.82 Target: 3660.25 TF: 4HR Leverage: 3x Pattern: 1) three drive reversal with 2) previous bearish rejection candle (high risk of double top) and 3) weekly EMA200 resistance. Breakdown of the channel will also breach the EMA50 on the daily:

Trader6127

Confirmation: 58.10 Invalidation: 64.37 Target: 43.09 TF: 4HR Leverage: 2x Pattern: 1) daily rising wedge reversal with 2) weekly EMA50 resistance, 3) untested weekly EMA200 support, and 4) weekly falling wedge pattern.