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Ethereum Going Strong!Although Bitcoin is also creating new all-time highs, Ethereum is showing more momentum over the last few days. From December 2020 to February 2021, Ethereum moved up over 300% before going into a period of consolidation from February 2021 to earlier this month. The resistance for the consolidation zone was around the $2000 round number. Following a breakout to the upside, price retested this level as support briefly, before forming an impulsive bullish move which we are currently seeing. With $2000 now out of the way, we want to see price head towards $3000 and continue smashing its way through round numbers. As with all assets trends will not continue forever without forming a deep decline or a period of consolidation, so we can anticipate this along the way up. Like stocks, the cryptocurrency market is looking bullish and may continue for some time but we will look for early indications based on our proprietary tools to determine when the trend has come to an end. Until then, enjoy the trends and ensure you are managing positions well. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
BITSTAMP:ETHUSDLong
by Sublime_Trading
1
S&P Extends Gap With $4000!The journey to $4000 was a fairly smooth one from the start of this year and the S&P is now trading comfortably above this level. $4000 has now switched from resistance to support. We have seen a nice clean move to the upside over recent days, so we can expect to see a pullback before a continuation. Price has the 20 simple moving average which coincides with $4000 which may act as support. Beneath that we have the 50 simple moving average. The markets are looking strong at the moment and even the Nasdaq has caught up to the S&P and the Dow Jones. The Nasdaq was experiencing a deep pullback when the other two indices were creating record highs. With all the indices now aligned, we are anticipating a continuation of the trends through the rest of the year. The task now is to identify the strongest sectors and take only the high probability setups to increase the chances of entering into profitable positions. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
SP:SPXLong
by Sublime_Trading
1
Bitcoin Battling $50,000 & $60,000!The bull run has been consistent in Bitcoin, and price has formed some neat pullbacks along the way up using both the 20 & 50 simple moving averages as support. The most recent pullback came down to tag the 50 simple moving average before heading back to the upside. On the way up, price has started to slow down and may be starting to consolidate. The support and resistance levels are at the round numbers $50,000 and $60,000. Price at the moment is using the 20 simple moving average as support, and if this level holds strong, then we should see a nice push above $60,000 followed by the current all-time high at $61,781. Since breaking out of long-term consolidation in December 2020 at $19,666, price has risen 197% and counting. Back in 2017, when price came close to hitting $20,000, many speculated that this was the limit for Bitcoin but as is the case with any asset, you can never predict what will happen next. As technical trend followers, we make our decisions based on what price is doing and not what we think price is going to do, which many make the mistake of doing. Focus on price first, and at the moment, it is telling us that the trend is not yet over, so we could be seeing other round numbers being broken. A break and close above the all-time high will confirm a continuation of the bull trend. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
BITSTAMP:BTCUSDLong
by Sublime_Trading
$&P Clears $4000!The S&P 500 is now comfortably sailing above $4000, which we anticipated to potentially act as strong resistance. With price now above this level, we need to see what price will do next. Will price continue to trend upwards, or will price come down and find support at $4000 then move back up, or will price move back below this psychological round number? One thing is for sure right now, and that is price is bullish across the board, which is reinforced by the number of breakouts we are seeing on a weekly basis. From the low of March 2020, price has moved up 85% and has more than recovered from the 35% fall we experienced during the Covid pandemic peak in February and March 2020. With markets looking stronger than ever, we must stay on top of the best-looking stocks which we post in our weekly newsletter and in our free community. The next level of resistance we need to be concerned about is $5000, which is quite some distance away, so there is plenty of room to ride the trends. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
SP:SPXLong
by Sublime_Trading
FTSE 100 Edging Towards 7000The FTSE 100 has failed to break and close above the February 2018 low at 6536 for a number of months now. You can see the December 2020 candle and the candles for January and February 2021 traded above this level but ended the month by closing below this level. With one more trading day of the month left to go, we may well finally see that close above 6536 and if this is achieved then we should continue to see bullish moves in UK stocks. Although the move up has been rather sluggish, price has gained good ground following the 22% decline we experienced in February and March 2020 at the peak of the global pandemic. In March 2020 price continued down and found support around the 5000 round number before moving back to the upside. With a bullish end to this month’s candle, the next level of resistance is 7000 and following that we have the all-time high at 7903, which is the May 2018 high. We will be able to get a better perspective of price action once the candle for March closes and decide on which opportunities we want to take positions in. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
TVC:UKXLong
by Sublime_Trading
S&P Second Attempt At $4000Price broke above the February 16th high at $3950 on March 15th, almost a month later, but then pulled back to the 20 & 50 simple moving averages. The moving averages held strong as support and helped to push price up through $3950, once again making its second attempt at reaching the $4000 round number. Right now, price is between support and resistance and will likely break out to the upside or the downside sooner or later. The bias is for a breakout above resistance as the overall trend is bullish. There is no telling how price will react to the $4000 level, but a clean break above it should see strong moves continue in the stock market. We are seeing strong moves in the Industrial sector, which is a shaft from the moves we saw in the Information Technology sector from the peak of the global pandemic. We are now just patiently waiting to see the outcome of price reacting to $4000, but in the meantime, we will continue to manage our positions and look for more high probability opportunities. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
SP:SPXLong
by Sublime_Trading
Palladium Slowly Waiting For A Break!Palladium failed to hit the $3000 mark during the bull run that ended in early 2020. Price created an all-time high at $2875, which occurred just before the peak of the global pandemic and was followed by a decline. The 50 simple moving average on the weekly timeframe was there to cushion the sharp fall and has been acting as a ladder ever since, slowly helping price to creep back towards the all-time high. The previous trend ran from June 2016 to February 2020, going from $454 to $2875, which was a rise of 540%. After such a big move in a long-term trend, it is no surprise that price is consolidating as it has now run out of steam. We can not sleep on Palladium because it has the potential to trend again once we have a breakout. And usually, when price consolidates for a long period of time, we can expect to see a strong move in the direction of the breakout. Hence, we need to ensure that we remain ready for any opportunity that presents itself. As for now, we need to wait patiently until that breakout occurs and avoid jumping in too hastily. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
TVC:PALLADIUM
by Sublime_Trading
Silver Still Moving SidewaysIn July 2020, price was making good progress in Silver after moving above a previous high at $21 to go on to reach a high of $29 the following month. Ever since that high was made, price has been in consolidation and has been struggling to move above the $30 round number. Price has been in consolidation for seven months now and holding in between $21 & $29. On February 1st price spiked above the resistance hitting $30 but that was a fakeout and price quickly returned back inside the consolidation zone. This fakeout is a reminder why we don’t just jump into a position straight away. We need to see a clear break and a close above/below resistance/support. Price is above the daily 200 simple moving average and pointing up so the bias is bullish for now. All we need to see is a move out of consolidation and we are looking for our confirmation signal which is shared with our members. This will guide us to enter only high probability opportunities. Silver is looking good and it is only just a matter of time before we see an opportunity to enter a position in this commodity. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
TVC:SILVER
by Sublime_Trading
Oil Halts at Resistance!This week the price of oil hit a strong level of resistance and failed to continue trending and has since reversed and is currently forming a pullback. The resistance level price hit is based on the April 2019 high at $66.58 and has held strong ever since. The last time price traded above this level was in October of 2018. As price is pulling back, we need to identify levels of support that price may come down to. The first level is the 50 simple moving average and below that, we have the $50 round number. If price bounces off any level of support we want to see price gain momentum that will be strong enough to force it past the resistance level above. We may, however, see price go on to consolidate for a lengthy period of time. Right now we need to stand aside until price makes it clear that a strong trend is in play. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
TVC:USOIL
by Sublime_Trading
S&P Finding Turbulence at $4000The S&P 500 broke above the previous all-time high at $3950 this week but has since declined back down below this level. This is proving to be a strong level of resistance, and if you couple this with the $4000 round number above, then we have a strong hurdle which price may have difficulty breaking through. The overall trend remains bullish, and the 20 & 50 simple moving averages continue to push price higher but we need to pay attention to how price reacts to this cluster of resistance as we advance. There is a clear pattern of higher highs and higher lows, so if price breaks and closes below a recent low, then we may start to see a deeper decline. As for now, we can expect the moving averages to support price. Should price break above the $4000 round number, we can expect to see the 12-year bull trend continue on its way. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
SP:SPXLong
by Sublime_Trading
Oil Breaking Boundaries!Oil has come a long way from the 100% decline we witnessed in 2020 where price came close to hitting the $0.00 mark. We have seen price climb above $65 since that time and continues to look strong on the daily timeframe (not shown) where we see a pattern of higher highs and higher lows. Price is above the weekly 200 simple moving average and the daily 200 simple moving average and the recovery has been strong and consistent. The candle this week so far is displaying an indecision candle so there are some strong clashes happening between the buyers and sellers. There is a strong level of resistance above price at $76.88 and this is from the October 2018 high. If price can continue to climb and break above this level then we should continue to see growth in the price of oil. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
TVC:USOILLong
by Sublime_Trading
S&P Approaching $4000!The S&P is showing good progress so far today and if price remains the way it is or moves higher then this will confirm a continuation of the trend. February and the first few days of March proved to be a difficult time for investors as many stocks went on a decline but this was short-lived as price found support levels to bounce off. The Dow Jones led the way with a breakout the day before and continues to create new all-time highs. The S&P is following behind and the Nasdaq is lagging further behind. Along the way up price should continue to use the 50 simple moving average as support which it has been using over the previous months. Price is now on its way to reaching the $4000 round number and if this level is breached then we should see the momentum continue to flow in the markets. Bear in mind that when price pulls back again, it is imperative to remain calm and only manage positions if support levels are broken. As for now, continue to profit from the current trends until the trends end. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
SP:SPXLong
by Sublime_Trading
Gold Breaks Support Levels!Gold was making good progress in July and August 2020 after breaking above what was then the all-time high at $1920. It was after hitting the $2000 major round number that we saw a change in the behaviour of price. By September 2020, price not only moved back below $2000 but also back inside the consolidation zone. Despite this, there was support below price from the weekly 50 simple moving average and the daily 200 simple moving average. The weekly 50 simple moving average was a key support level because historically it has bounced off this level a number of times but it failed to hold price up on this occasion. We are starting to see bearish moves in Gold on the daily timeframe and our proprietary trend filter has turned red indicating that there is weakness in price. The next important level of support below price is the $1500 round number which is some distance away from price. Should we continue to see a pattern of lower lows and lower highs on the daily timeframe then price may continue on a downward trend for some time within the consolidation zone to the support low. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
TVC:GOLD
by Sublime_Trading
S&P Taking a BreatherThe S&P 500 is still in a long-term uptrend which has been in play since March 2009 and currently approaching a major resistance level in the form of the $4000 round number. The momentum has started to slow down slightly as we are seeing a mini consolidation in play. Just below price we have the 50 simple moving average and price has been hovering around a resistance level from the high from 26th January 2021. Price has been moving above and below this level and if we see a bounce off from the 50 simple moving average again then we may well see price move back above this level. The recovery from the global pandemic from the peak last year March has seen a move of 75% so the slowdown in momentum is understandable but now we want to see a resumption of the uptrend. If we finally see a break above the $4000 round number, which may prove to be a strong obstacle, then we should see the bull trend continue in both the UK and US stock market. Through our scans, we are seeing many stocks emerging from breakouts and potentially forming long-term linear trends which will be confirmed if price uses the 20 & 50 smas as support. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
SP:SPXLong
by Sublime_Trading
AUDJPY Finally Trending Again!It has been a while since we have posted a forex pair as this market has not been presenting long-term opportunities but there does appear to be some positive moves taking place in some pairs including the AUDJPY. Price is now trading above last year’s high at 79.79 following the trend that formed after price found support at the 60.00 round number. A neat linear trend appears to be forming, recently using the 20 simple moving average as support which is what we want to see to determine a strong uptrend. Do bear in mind that price does form deep pullbacks and if this occurs then it will just require patience before the trend resumes but ideally price will continue to form small pullbacks along the way up. We will continue to update the AUDJPY if the trend continues but our main focus is on stocks as there is a plethora of trending opportunities being presented to us daily. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
Long
by Sublime_Trading
2
Gold Finding Support At $1764Gold has experienced turbulence after trying to trend above the $2000 round number in August 2020. All appeared fine at first but price soon started to decline and has since formed an area of consolidation between $1764 and $2075 which is the current all-time high. Price dipped below the daily 200 simple moving average in November 2020 but quickly moved back above this level. Then from early January 2021 price started to interact with the 200sma once again and then began to decline further below this indicator this month. As the 200sma has now failed as support, we have to look at the next level price may come down to. In this case, it is the low of the consolidation at $1764. Since interacting with this support level, price has reacted and started to move back to the upside. This does not mean that we won’t see a further decline, it just means that this level is holding for now. To confirm that this level is holding price up long-term, we want to see price move back above the daily 200sma and following that we want to see price form higher highs and higher lows. We will continue to apply patience to Gold and take advantage if and when we see a resumption of the overall bull trend. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
TVC:GOLD
by Sublime_Trading
Gold Undecided at Support/ResistanceIn the previous post on Gold, we could clearly see a reversal at the weekly 50 simple moving average proving this to be a strong level of support. So far this week and price has now moved below the 50sma displaying a bearish candle at the moment but the important thing to note is the closing candle at the end of the week. If price closes above the 50sma again at the end of this week then it further reinforces this level as strong support. If price closes below the 50sma then we may see further moves to the downside but as the overall trend is up, the bias is indicating towards a bullish continuation. It is just a waiting game now to see what price will do next as we hold onto our position which was opened in the summer of 2020. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
TVC:GOLD
by Sublime_Trading
S&P 500 Strengthening Through FebruaryThe US market was closed on Monday due to Presidents Day but closed the previous week on a high making a new all-time high. As this is the first trading day of the week, there is little activity so far but we may see the momentum continue to push price higher this week. Alternatively, the market could pull back towards the 20sma or the 50sma. Just above these indicators, we have the previous all-time high at $3870 which may also act as support. The trend at the moment is strong and linear in nature and edging ever closer to the $4000 round number. This psychological level of resistance could force price around or we may see some turbulence here before price continues on its ascent. As far as we know, the market is bullish overall and stocks are still performing well so we can expect this trend to last for a number of months and potentially over a year. Our goal during the trend is to compound on winning positions and maximise our returns along the way up. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
SP:SPXLong
by Sublime_Trading
S&P Only Just Scrapes A New Record HighJust a week ago traders were experiencing high emotions as the markets experienced its regular pullbacks but now price is proving how resilient it is by continuing to create new record highs. Since November 2020 when a previous all-time high was broken at $3588, price had been on a gradual rise using the 20 simple moving average as support but the most recent pullback came down to the 50 simple moving average which gave price that much needed boost. This proves yet again that price should be the main focus and not the news which was recently focusing on the market declines. Once you have the technical aspect in place and are able to identify major levels of support and resistance then you will be miles ahead of other traders and investors. Although price has only just about scraped past the previous all-time high, the markets remain bullish and should continue to rise until there are strong indications to prove otherwise. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
SP:SPXLong
by Sublime_Trading
Can Gold Catch Its Momentum Again?Gold was looking strong at the start of the year after having bounced off the daily 200 simple moving average in December. It did appear as though the bullish momentum was going to push price up towards the all-time high at $2075 but the sellers are making this task difficult right now. We have to remember that price is in an area of consolidation so the constant up and down swings are to be expected and although price has moved below the 200sma again, there is a support level below that could keep price from falling any further. This support level was formed from the November 30th 2020 low at $1764. Should price break down below this level then we may see a decline in Gold all the way down to the weekly 200sma which is currently at $1449, not too far below the $1500 round number support. Patience needs to be applied with Gold because it has the tendency to move sideways for long periods of time and then suddenly jump into action so we will be keeping a lookout for any progress being made. If price makes a swift return back above the daily 200sma then we may see a resumption of the long-term bull trend. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
TVC:GOLD
by Sublime_Trading
USDTRY Gearing Up For Another Impulsive Move?USDTRY has not been shy when it comes to showing off its linear trends as we witnessed staggering growth of 89% in 2018 and 44% in one month alone in August 2018 reaching a high of 7.0831. Price consolidated for 2 years after that and broke out in August 2020 and went on to trend to a high of 8.5777. Price then went on a decline and is currently sitting at a cluster of support in the form of a previous resistance level turned support at 7.2682 and the daily 200 simple moving average. Price is currently walking up the 200sma and if this level continues to hold as support then we should eventually see the bulls force price back up to continue the trend. USDTRY does reward investors that have patience as the trends, once they come, usually arrives with force and delivers fast and healthy profits. We will continue to monitor this forex pair to see how price reacts to its current support base. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
by Sublime_Trading
Bitcoin Taking A Short Break?Many would have argued that Bitcoin was never going to exceed the previous all-time high set back in December 2017 just under $20,000 because nobody really expected it to even get that high in the first place. The fact is that price came near $20,000 but then experienced an 85% decline to a low of $3122 a year later in December 2018, so the odds of climbing that high again looked even bleaker. We always remind our members that price will do what it wants and we can never predict what will happen next. We might get lucky a few times, but to predict consistently is impossible because a lot of different factors drive price up and down. $10,000 held price down for a number of years and acted as strong resistance until price was able to finally clear that level and a previous resistance in October 2020. From then on the momentum has been pretty much bullish as it continues to break records. Currently, we are experiencing consolidation which was to be expected after such strong moves but there is support below price in the form of the 50 simple moving average. At the time of posting, price is starting to show strength once again and we want to see price push its way above the $40,000 round number followed by the recent all-time high at $42,000. We only have a small portion of our capital invested in cryptocurrencies due to this market experiencing a lot of volatility, but these positions are doing well and did require a lot of patience and may require some more if we have to go through more large swings in the future. As for now we just have to hold on while the trends continue. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
BITSTAMP:BTCUSDLong
by Sublime_Trading
Gold Strong and Stable!Although Gold has not been going anyway for a long period of time, we can see a pattern emerging which could be an early indication of further strength to come. Price has declined to the weekly 50 simple moving average a number of times now and after hitting this level we usually see strong bullish reversals. Although the current bullish candle is not yet confirmed, as the week needs to close first, price has again bounced off the 50sma and forming a bullish engulfing candle. We have the $2000 psychological area of resistance above price which could act as resistance again if price makes it back up there. Breaking that level will then mean price will be faced to battle it out with the current all-time high at $2075. Our positions in Gold are still being held and in small profit as we wait patiently to compound when the right conditions are met. As for now, we remain busy sorting through the opportunities in the stock market which is trending strong at the moment. This is the beauty of trend-following, it allows you to diversify your portfolio to catch the moves in other markets when one market is quiet. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
TVC:GOLDLong
by Sublime_Trading