G'Day,
This is a snapshot of today's tide. You can see we are looking even more over-bought today then we were yesterday, We have hit 61 on the RSI which is a level we have not seen for a while, while we are getting high, e have plenty of room yet. The Williams %R is again sitting in the extremes, so a little pullback to reset this is possible. MACD has recently crossed over and has moved above the centreline.
We are currently in a bull-flag which has a 67% probability of continuation and Currently Longs outnumber the Shorts by around 5k.
So while we are technically still in a "bear market", I would say the tide is running bullish, from here we take a look at the lower time frames to see the waves and see if we have any trade opportunities.
This is a snapshot of today's tide. You can see we are looking even more over-bought today then we were yesterday, We have hit 61 on the RSI which is a level we have not seen for a while, while we are getting high, e have plenty of room yet. The Williams %R is again sitting in the extremes, so a little pullback to reset this is possible. MACD has recently crossed over and has moved above the centreline.
We are currently in a bull-flag which has a 67% probability of continuation and Currently Longs outnumber the Shorts by around 5k.
So while we are technically still in a "bear market", I would say the tide is running bullish, from here we take a look at the lower time frames to see the waves and see if we have any trade opportunities.
Note
20ema about to cross the 50ema on the 12 hrs chart.Note
Note
Need to wait and see, a good trade either side of the flag, is dropping now but support should ? hold at the bottom. Short opportunity under if you feel the risk is worth it or a long above the flag after breakout is another option.Note
Flash crash stopped on the 20ema like a bullseye, will probably have another test. This type of run is great for liquidity and can be followed by a break in the other direction be aware. Note
Like this Note
It is like yesterdays chart all over again.Note
I have taken a long near the bottom of the wick, taking the play that we will now move back to the top of the flag and attempt breakout or will eventually.Note
I think that even if we retest the bottom of the rising trendline we should bounce, if we break that line, we will be in a bit of trouble. Note
Local double bottom Note
Big block of support here. Will it be enough is the question. Note
Well the need for correction idea was on point just yesterday, just timing was off, I stepped away from the screen for a bit and have had stop loss taken out, and then it ran away. Reason number 243 why you must use a stop.Trade closed manually
ETH stoped out in a flash drop too, going to wait for things to settle before recommencing any trades. BE careful and be safe
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.