ViceTrader00

ViceTrader00

On Tuesday, we saw a massive sell off after CPI data came back very hot. The selling started around $18000 and continued to below $17600 but bought back up into $17850 within a day. Clearly the sells have weak hands and buyers are in business or at least that is what they want us to assume. According to the fibs, the market sold off more than 50% from the high...

ViceTrader00

This week we are about 400 points from reaching the all time high. Since the middle of November the price action has made considerable structure of HH and HL. Starting in December, we saw LH and LL form which were broken last week Friday leading to a gap up. Previously gaps up indicate prices will move higher then fill in the gap later in the week. However, this...

ViceTrader00

Price hit the lows around $14560 and bounced back to $15040. Since the market is currently in an up trend (weekly and monthly) I would expect this intraday down trend to not hold and for price to bounce up higher. With congress averting a government shutdown, I don't think there are any news catalyst to make price tank as of this week. However, the plan stands...

ViceTrader00 Updated 

Multiple scenarios might play out in the next few days. Price rejected $15700 twice suggesting the next moves might be down to demand in line with previous price action. The major area of demand most recent is between $15160-$15200, with minor demand at $15400. The first scenario is that price will continue to fall after rejecting at $15550 and bounce from 15400...

ViceTrader00

If price breaks below the support, there is a high likelihood that price will travel to the next demand zone.