thiluxan_s

thiluxan_s

Aurora Cannabis is one of the leaders in the new and emerging cannabis industry in Canada. They plan to stick around and I believe they will for a variety of reasons even though there is so much fear surrounding this industry at the moment. I'll elaborate further on this idea but for now let’s get to the TA. I’ve recently called LONG on this, but it has since...

thiluxan_s

Not financial advice, just my opinion and ideas. This is my view on the daily chart with some cold hard facts and a realistic outlook. Things to take note of: Parabolic uptrend for about 2 months. Nothing goes up forever but when does up end and at what price level? With the upward sloping trend lines, another leg up could send us flying to as high as 12k...

thiluxan_s

BTC keeps making new highs and higher lows. RSI posting another lower high and MACD looking good. Healthy from a bullish perspective since we held the current price level. I could see us trading sideways for a few more days before the next BIG move down or up. BTC right now is playing nicely off the 50 MA. If we break under this 9.6k range I see a move down to...

thiluxan_s

Chinese markets are currently taking a hit and PDD happens to be coming off a new all-time high and bearish divergence. Bearish divergence on RSI lead to a new high and eventual price break down. We are currently sitting at the .382 fibonacci retracement level. Similar scenario in previous cycle (2018-2019) where bearish divergence occurred and eventually had...

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Fibonacci Retracement Levels: Key levels have been totally respected at various moments and have acted as either support and resistance in different rallies. Current bottom just so happens to be the .618 fib level. Not the cleanest but clean enough where it dipped to the level and traded sideways for over a month before this current rally back up to the 10k...

thiluxan_s

Just an idea pointing out similar scenarios in the past and where we can end up. We are at a key resistance level that was a major support during the 2018 bear market. NVT is used to speculate on tops and bottoms. When it flips red it signals a market-top following a big dump, but keep in mind it isn't accurate with regards to timing and can still have the...

thiluxan_s

RSI on 4hr has been amazing to predict swings which is why I circled them. Buying when extremely oversold and selling when extremely overbought has resulted in winning trades. With that being said, RSI at the moment is currently in overbought territory while the chart is forming a double top, depicting a higher-chance move to the downside in the immediate...

thiluxan_s

Last time we were in overbought territory on the daily RSI was 10 months ago. This has been the largest downtrend in the stock's entire history. Currently trading under a death cross for quite a very long timenow. So why long now? Not only has it bounced off the major long-term support line (green), it seems to be forming an inverse head and shoulder at the...

thiluxan_s

We've been making higher and higher lows since August of 2019 and finally broke to the upside. Golden cross confirmed. We're fresh off a new macro low and historic price data indicates major moves to the upside usually follow afterwards. RSI still bullish. Low risk high reward because we can still make a move to that upper channel which is where I would sell...

thiluxan_s Updated 

Just an idea. Price at the moment is less than 50% of its all time high. Every time MACD flips green on the weekly we've had immense gains. This is an emerging industry especially in Canada that everyone is watching, with Canopy being regarded as one of the industry leaders. RSI is also near the oversold territory, which many times in the past have indicated a...

thiluxan_s

Classic Inverted Head & Shoulders pattern is usually not just a bullish indicator but a sign for a trend reversal from bearish to bullish, and we just so happen to be coming off a recent low. Not only did we bottom but we bottomed right at the .786 Fibonacci retracement level which just also happens to be right at the major support line. Great to see it respected...

thiluxan_s

Still trading in its giant bearish channel. Looking to close a another daily candle or two above the 200MA and finally have our golden cross, in that case I will look to long for a small retest to the upper channel near 1.15-1.17. If we get rejected down off the 200MA I will be looking for a nice move to the downside. In the case of a move to the downside I...

thiluxan_s

Bottom line is we haven't put a new high since the giant blow-off top in 2011. We've been bullish since 2016, creating new highs and higher lows but the thing to be cautious about right now is the fact that we're at the .618 fib level since the peak of 2011 without having take out the previous all-time high. If we get rejected at this fib level we might in fact...

thiluxan_s

Just an idea and opinion. We'll see how it turns out ;) Tesla's stock has seen MASSIVE gains in the recent time frame. In my opinion it's a very unsustainable move and we will have a pull-back now. Where exactly I'm not sure but based on a lot of previous chart data it's evident that Tesla's price loves to bounce through various fib levels as it's been an asset...

thiluxan_s

Not investment advice, just my ideas and opinions being shared for educational purposes. Note: Longer time frames have been much more accurate and easy with regards to price prediction than shorter time frames. Death Cross: The 50 MA crossed under the 200MA in the end of October of 2019 which put in a new low of approximately $8000, but that event was...

thiluxan_s

Some food for thought. With the recent surge there seems to be a whole lot of hopium in the market with regards to a trend reversal, but in my opinion we haven't had a real confirmation just yet in order to begin trading with a totally bullish bias and I'll tell you a few reasons why. On the Macro: We have not yet posted a higher high yet. I see it being a much...

thiluxan_s

Im not usually too big on fractals but this is something I found using recent chart data. The fractal structures are very similar to one another so I thought I'd share with you. Notice the declining volume on both fractals as well. Remember we are very close to the daily 200MA (currently at 9.1k) where bitcoin has gotten rejected many times in the past, but at...

thiluxan_s

This method is not a magic trading formula, just another simple and easy to follow perspective on preventing irrational/emotional trades that get you rekt at bottoms at tops . The Given: When price moves up fast and sharp, traders usually look to take profits resulting in sell pressure. It's also the same vice versa as when price moves down fast, traders ...