Reference purposes only. The key S & R levels marked out from when BTC exited the 2014 'bear market'. Scroll up to see the current market with levels also marked. Plenty of 20-30% corrections back then as BTC price rose to eventually surpass previous ATH. Very similar in the current market - although - the lower highs observed currently is cause for concern!
Idea - LINK has shown strength for months, seems to be ranging + primed for another take off Counterargument - Every idiot on Twitter is posting the same meme chart. Never a good sign Meaningful levels - stop loss at 188874, targeting 33372 and 44659 Time period - 1 month
Everyone is talking about this finally dying off, but I don't see it. XRP will be around for some time. It's got too much of a narrative and community behind it, and all it takes is some changes in sentiment for it to be back to it's "best". SIMPLE PLAN: * Monitor these support levels * Look for a *convincing* bounce at the local support or the next one down *...
I can see it making 30-40% correction to the 8.4k to 8k level. Otherwise, a 60% correction or so, to the 5 or 4.5k level. Of course... it could turn back at 9k
Guesswork: - Market structure has changed. Doesn't seem like bull run is confirmed yet. May lurch sideways or range for months. - BTC must break 11.5-12.7k region, flip resistance to support, to anchor in proper bullrun. - Recent action shows 7.5k is crucial level. Historical (2016) data shows 40% retrace from local top for recovery rallies. Rationale: -...
No big fan of Ripple as an actual project. However it does have that mix of public awareness, low 'per unit' cost, and 'community members' who think it's the next Bitcoin. That all equates to some big, dumb price action at some point this year. Last three times, it bounced hard off a major support and did between 200 - 1000%. Looking at this chart, I see it...
Looks like crap to me. Price action is knocking on the door of that support line. I am looking at that support to break and when it does would be targeting the next level down as a good buy area.
I have decided to adopt a naked charting method. Very very simple indeed. Looking at 3 levels of resistance, 3 levels of support at any one time. Notes below: * after 2 years + of experience, my honest feeling is that I am a terrible trader * I am however okay at looking at trends and the broader picture * so will be moving to a long term ’naked charts’ approach...
Decided to take a look at APHRIA on the Weekly (1W) chart, solely looking at: - Macro trendlines - Major support and resistance (i.e. major buy and sell zones) That's it. This is solely of interest, I suppose, to a positional trader. I am interested to see: - Will the price action bounce against the current macro downtrend in the next few months (this has not...
This is my trading plan for February 2019. Will be working this plan for the rest of the year, and review December 31 2019. This is based on: - 2 years of crypto trading - realisation that I suck at daytrading - suspicion I could be good at macro swing trading - recent education on Babypips and other trusted sources The focus of the year is on: - learning -...
Based on the Babypips course: www.babypips.com Hidden bullish divergence example
If this bounces at the diagonic trendline I'd buy it with a tight stop loss, then see if it can get past the local resistance. if so, hold it till the next trouble area. Right now, not in the trade, but honestly would consider getting in soon... MACD looking a bit bearish but has been quite tight before and still broken to the bullish side, so for now I will...
Study notes based on the Babypips course. Based on this article: www.babypips.com Bullish pennants are formed in an uptrend and imply that the bulls are about to charge again! - Uptrend - Breather, consolidation into a tight range - Breakout to the upside Flagpole can be used to measure size of the breakout upside potential
Thesis > GBP/USD seems to be in a macro bearish/depressed market structure, but is ranging at the moment and seeking direction. Trade idea is to short the local resistance at the beginning of March, and keep an eye on fundamentals that could push it out of this range (a referendum or an agreed deal on Brexit). Otherwise expect it to hit the local top and start...
Study notes from Robotic Trading by Claytrader: claytrader.com Example of a strong 'bearish river' using 3 SMAs
Based on the 'Robotic Trading' course by ClayTrader: claytrader.com An example of a very clear cut and strong bullish river, using 3 MA's.
Update of previous chart on Canopy. MACD, Parabolic Sar, RSI all looking pretty bearish and reminding me of previous chart action in the aftermath of the late 2018 price run-up. However.. the EMAs (10 and 30) haven't crossed over, and to me that would need to happen to confirm a steep downtrend. For now things are leaning bearish, if we see further...
This is an update to my previously published idea on CGC with some slightly different indicators. MACD is showing bearish crossover, this has been a solid indicator for this stock in the past when it has been trending (the fakeout was during a period of weak momentum). See the examples highlighted. Volume is declining, what an eyesore. With that said, the...