$INPX MASSIVE FOMO Enagaged PT $1-$1.50 Next $FCEL$INPX Has taken off quite nicely the last few business days and hasn't shown any signs of slowing down. The Palo Alto company which owns numerous subsidiaries and patents owns patents to a technology that will revolutionize indoor spaces. The company has a tech that integrates outdoor GPS systems with its indoor positioning system that maps out Geospacial context for location based services. The first of its kind in any industry this is sure to stir up a storm and I anticipate the PPS to show the massive potential here as the insider and institutional ownership of stock does.
Volume Indicator
BTCUSD Consecutive Lower Highs | Key Structural Support Hello Traders!
Today’s update will be on BTCUSD which is in a defined down trend; Key levels needs to be watched for the direction of the overall trend.
Points to consider
- Trend bearish; Consecutive Lower Highs
- Structural Support holding
- Key resistance to break
- Stochastics in lower regions
- RSI neutral
- 200 MA to break
- Volume Declining
BTCUSD trend is clearly putting in consecutive lower highs signalling that sellers are in control. Structural support is holding, must hold for a bullish bias otherwise lower lows are probable. Key structural resistance to break, this will be bullish as it will change the structure of the trend.
Stochastics are in lower regions, can stay here for an extended period of time, however lots of stored momentum to the upside. The RSI is neutral, hitting its ceiling, must break otherwise bearish.
200 MA to break, currently is giving BTC resistance as it goes sideways. Volume is clearly declining; an influx of volume is imminent and will come to fruition very shortly.
Overall, in my opinion, BTC needs to break resistance to change the market structure, currently the trend is in full control by bears.
What are your thoughts?
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And remember
“There is a huge difference between a good trade and good trading.” – Steve Burns
ACB Bullish Divergence| Trend Still Bearish Hello Traders!
Today’s chart update will be from the Canadian MJ sector – ACB which has recently had a bull reaction from local lows.
Will ACB have enough momentum to break key levels?
Points to consider,
- Trend Bearish – consecutive lower highs
- Local resistance to break (.382 Fibonacci level)
- Stochastics in lower regions
- RSI coming close to apex
- EMA’s holding as resistance
- Volume has increased
ACB’s overall trend has been bearish with consecutive lower highs in place; a market structure with higher lows is required to shift momentum for a bullish bias.
Local resistance for ACB is key to break; this will confirm the trend change as it will put in a new higher low, the bullish divergence suggests that the temporary low has been priced in.
The stochastics is in lower regions, can stay here for an extended period of time, however lots of stored momentum to the upside. The RSI is coming close to its apex; a break is imminent in either direction.
EMA’s are holding price as resistance, ACB could potentially be putting in another lower high, continuing the bear trend. Volume has however increased; ACB must sustain volume for follow through otherwise bears have an upper hand.
Overall, in my opinion, ACB needs to break EMA’s and key local resistance to confirm a trend change. For this to come to fruition, ACB needs sustained bull volume follow through.
What are your thoughts?
Please leave a like and comment
And remember,
It does not matter how slowly you go as long as you do not stop.”Confucius
LTC/BTC S/R Flip | Key Technical Level Broken| Trend Change ?Hello Traders!
Last Day of the decade! Bring on 2020!
Today’s chart update will be on LTCBTC which has broken a key technical level and has consolidated- S/R Flip.
A confirmed trend change will come to fruition when structural resistance is broken,
Points to consider,
- S/R flip
- Strong structural support
- Strong Resistance to break
- RSI respecting support
- Stochastics trading in upper regions
- EMA’s close to support
- Below average volume
LTCBTC has broken a key level convincingly; it needs to consolidate as it confirms the S/R flip. Strong structural support indicates high buy pressure, wicks evidently signals accumulation in the local lows.
Structural resistance needs to break next; this will confirm a trend change as market structure will put in a new higher high after consolidation.
The RSI is respecting its support, in neutral territory but is coming close to its apex, a break will be imminent. The stochastics is currently trading in the upper region, can stay there for an extended period of time, however lots of stored momentum to the down side.
EMAs close to supporting price, it must hold price when testing structural resistance for a bullish bias. Volume is well below average, this signals an influx of volume is likely when testing key levels.
Overall, in my opinion, LTCBTC has broken a key technical level confirming the S/R flip. Higher lows need to continue to break key structural resistance, which will confirm the trend change, putting in a new higher high on the pull back.
What are your thoughts?
Please leave a like and comment,
And Remember
Timing, perseverance, and ten years of trying will eventually make you look like an overnight success. – Biz Stone
Happy New Year’s
ETHBTC New Higher Low? | Volume Follow Through Needed!Hello Traders!
Welcome to another update,
Today’s chart update will be on ETHBTC which has put in a potential new higher low, possibly changing the overall bearish trend.
Points to consider,
- Probable trend change coming to fruition
- Local support respected
- Local resistance yet to break
- Stochastics in lower regions
- RSI hitting resistance
- EMA’s to cross bullish
- Volume below average
ETHBTC is attempting to change the trend by putting in a probable new higher lower which will be confirmed after initial consolidation. Local support was held and respected; buyers are strong in this area, a key level not to be broken.
Local resistance is the next key level, a break and consolidation above this level will confirm the trend change on the daily.
The stochastics is currently in the lower regions, can stay here for an extended period of time, however lots of stored momentum to the upside. EMA’s are giving price resistance at current given time, a bull cross will increase the probabilities of breaking local resistance.
Volume is well below average, a key indicator to watch, bulls need momentum with follow through otherwise a break to lower lows is probable.
Overall, in my opinion, ETHBTC needs to consolidate at current level; a potential bull flag is likely before another leg up. It is important to keep an eye on volume which will dictate the overall direction of ETHBTC.
What are your thoughts?
Please leave a like and comment,
And remember,
Timing, perseverance, and ten years of trying will eventually make you look like an overnight success. – Biz Stone
XMR Breaks UpXMRUSDT has broke a good resistance that opened a good buying potential trade with the forecasted target above and with real time target using our indicators .
indicators used :
AZV
Volume Power
Volume Analysis
LTC Breaks UpBINANCE:LTCUSDT has broke good resistance and there is a potential buy trade in here with the target shown above on the chart or with an open target using our own indicators .
Indicators used :
AZV
Volume Power
Volume Analysis Tool - VAT
BTC Key Level| Oversold Bounce?Hello Traders,
Quick Update
Today’s chart we be on BTCUSDwhich is testing a critical support level
Points to consider,
- Trend bearish
- Major support being tested
- Stochastics in lower regions
- RSI approaching oversold
- EMA’s giving price resistance
- Volume needs to increase
BTC has put in consecutive lower highs with no clear sign in trend change on the shorter time frame. Major support is being tested that must hold for a bullish bias, a break will continue with the bearish momentum.
Stochastics is currently in the lower regions, can stay here for an extended period of time, however lots of stored momentum to the upside. RSI is hitting oversold conditions; a return back to neutral territory is probable, an oversold bounce.
EMA’s are currently giving price resistance, this will push BTC down if support does not hold true. Volume is well below average, an increase in volume in either direction will determine the trend direction.
Overall, in my opinion, BTC is in a critical point where a break in either direction will determine the overall trend. A bullish break will confirm a higher low and a bear break will increase the probabilities of further lower lows.
What are your thoughts?
Please leave a like and comment
And remember
“Hope is bogus emotion that only costs you money.” – Jim Cramer
Local Support Double Bottom| Low Volume| Tend Change?Hello Traders!
Welcome to another update, todays chart will be on NEOBTC currently resting on the .50 Fibonacci level, will bulls have momentum to push NEO further up?
Points to consider,
- Trend change attempt
- Double bottom as local support
- EMA’s giving resistance
- Stochastics in lower regions
- RSI bouncing of support
- Volume clearly declining
A trend change will come to fruition if NEO holds this potential double bottom; this will put in a new higher low. The double bottom is in confluence with the .50 Fibonacci level, putting more emphasis on the importance on this level.
EMA’s are currently giving price resistance, will push NEO down if no bull volume comes through at current given time.
The stochastics are currently in the lower regions, can stay there for an extended period of time, however lots of stored momentum to the upside. RSI is bouncing of support, must hold, a break will most probably send NEO to lower levels.
Volume has declined rapidly, a clear indication that a move is imminent in either direction with in influx of volume.
Overall, in my opinion, a confirmed trend change will come from the respect of the local double bottom. A break of this level will increase the probability of NEO testing lower levels as the trend will still remain bearish.
What are your thoughts?
Please leave a like and comment
And remember
“Stocks are bought not in fear but in hope. They are typically sold out of fear.” – Justin Mamis
OH Bullish Divergence|Local Resistance|EMA Cross| Higher LowHello Traders – Merry Christmas!
Today’s chart update will be on CANNAROYALTY CORP OH where a valid bullish divergence has come to fruition.
Will OH have enough momentum to break local resistance and put in a new higher low?
Points to consider,
- Trend bearish
- Local resistance at 4.950
- Local support provided by EMA’s
- Stochastics in upper regions
- RSI diverged, Respecting trend line
- Volume above average
OH is currently in control by the bears, consecutive lower highs have been in place, a clear trend change will require a daily higher low.
Resistance is found at $4.950, a key level for the bulls to break as this will put in a new higher low, negating the bearish trend structure. Support comes from the EMA’s as they cross bullish at resistance. This needs to maintain for a bull break of the key local resistance level.
The stochastics in currently in the upper region, it can stay here for an extended period of time, however lots of stored momentum to the downside. RSI has diverged from price, needs to maintain its trend line for a bullish bias.
Volume is above average, OH needs continued bull volume follow through if it is to break local resistance.
Overall, in my opinion, OH needs to break local resistance convincingly with follow through. This will change the overall market structure, putting in a new higher low. An entry will be valid on the bullish S/R flip re-test of the local resistance.
What are your thoughts?
Please leave a like and comment,
And remember,
A streak of winning trades can boost your ego and self-confidence to such an extent that you start believing that you’re invincible. If that is the case, try to take a break from trading to calm your emotions down.
BTCUSD Break of Support or Resistance?| Key $7800 level!Hello Traders!
Welcome to another update today, this time on BTCUSD daily timeframe
On the daily chart we have very clear levels that need to be watched in terms of support and or resistance.
Bitcoins next move will equate to either break of support or a break of local resistance - $7800, a very key level.
Points to consider,
- Trend bearish
- Local resistance at $7800
- Support at .618 Fibonacci
- Stochastics in upper regions
- RSI Diverging from price
- Volume below average
- EMA’s crossing
BTCUSD trend is currently in control by the bears as we have consecutive lower highs on the chart.
Local resistance is found at the $7,800 mark, a key level for the bulls to break in order to negate the overall market structure. Local support in confluence with the .618 Fibonacci level, must hold price. This needs to maintain in order to put in a new higher low in the trend.
The stochastics are currently in the upper region, can stay here for an extended period of time, however lots of stored momentum to the downside. The RSI has diverged from price, causing a bullish divergence. It must respect its now established trend line to hold a bullish bias.
Volume is below average, an influx of volume is required with convincing follow through in either direction to avoid false break.
Overall, in my opinion, BTCUSD is at a critical point where a break in either direction will dictate the fate of the trend. A bearish break of a key Fibonacci level will increase the probabilities of further lower lows. A bullish break of local resistance, $7800, will negate the bearish structure and put in a new probable higher low.
What are your thoughts?
Please leave a like and comment
,
And remember,
“It’s OK to be wrong; it’s unforgivable to stay wrong.” -Martin Zweig
BNBBTC Long Term Trend Line| Key Support Hello Traders!
Today’s chart update will be on BNBBTC, testing a strong structural support which is in confluence with its long term trend line.
Will BNBBTC respect this technical level?
Points to consider,
- Trend Bearish
- Structural support being tested
- Structural resistance needs to break
- Stochastics in lower regions
- RSI oversold
- EMA’s giving price resistance
- Volume declining
BNB’s trend is currently controlled by the bears, putting in consecutive lower highs as it comes close to very key levels.
Structural support is being tested, which is in confluence with the longer term trend line that must hold for a bullish bias. Resistance is yet to break; bulls have a lot of work to do to reach it. A break of resistance will put in a new higher high in the trend, changing the overall structure.
Stochastics is currently in the lower regions, can stay here for an extended period of time, however lots of stored momentum to the upside. RSI is oversold; a bounce back to neutral territory is highly probable.
EMA’s are currently giving price resistance, will continue to push BNBBTC down until a bounce in price comes true from support levels. Volume is declining, indicating an influx of volume is due in either direction.
Overall, in my opinion, BNBBTC is probable to bounce from current levels due to confluences from technical indicators. An influx of bull volume is required to push BNB further up from these levels.
What are your thoughts?
Please leave a like and comment,
And remember
In trading, everything works sometimes and nothing works always.”
New Open CME Futures Gap| BTC Resistance .618 Fibonacci Level Hello traders!,
Today’s chart update will be on BTC CME Futures chart which has just put in a new gap that will most probably fill sooner rather than later.
Points to consider,
- Trend hitting resistance, .618 Fibonacci
- .382 Fibonacci is local support
- RSI in overbought territory
- Stochastics in upper region
- EMA’s yet to meet price
- Volume below average
Local resistance, the .618 Fibonacci; is a key level for BTC to break to maintain a bullish bias, this will help create higher highs in the overall trend. Support is found at the .382 Fibonacci level, below the futures gap, bulls have a lot of room to work with in order to establish a new higher low whilst filling the gap.
RSI is resting on overbought territory; a return back to support is highly probable, this will help cool of the indicator. Stochastics itself is also in the upper regions, can stay here for an extended period of time, however lots of stored momentum to the downside.
EMA’s are yet to meet price, must hold BTC as support as the EMA’s have already crossed bullish. Volume is below average, an influx of bull volume is needed to keep BTC above support when and if it comes down to fill the open gap.
Overall, in my opinion, gaps tend to get filled sooner rather than later. BTC is highly probable to retrace back to at least $7255 level before another impulse move either up and or down.
What are your thoughts?
Please leave a like and comment,
And remember,
“Accepting losses is the most important single investment device to insure safety of capital.” – Gerald M. Loeb
An analysis during Christmas Week for BitcoinUnfortunately, my original that I have been working on now for a few days has been wiped away after a refresh of the browser. I am not going to attempt to rewrite what was once written.
To break things down quickly, I really just wanted to know if there was any kind of pattern that could be found while analyzing previous weeks that Christmas fell on. I wanted to start with Christmas day and see if it was heavily traded or dead quiet. Then I wanted to expand into the week and see how Christmas compared to the week itself.
There is a lot of Data to choose from as to what is relevant and what is not. I will mainly focus on Volume.
I shouldn't need to say this but I will anyway. In no way am I "comparing" Christmas week of 2011 with Christmas week of 2019. For far too many reasons than I care to get into, that would just be crazy. I am mostly just looking at the data to get an overall feel. Bitcoin is super young and with only 8 years worth of data on STAMP, it's just not enough for a deep analysis.
I will cross reference the overlapping available years with Coinbase to try to get a better understanding and see what comparisons can be made.
Anyway, this intro is far too long... Let's get started.
I started with the most simple metric available. Christmas day. Bullish or Bearish and by what percent up or down and what the percent equaled in dollars at the time.
Let's take a look at 2011 as an example.
For 2011 we can see that on Christmas day we posted a daily gain of 1.41% ($o.o6) and the Week that Christmas fell on Posted an 8.84% loss (-$0.42) from the Open on Monday to the Close on Sunday.
So the Data for Christmas Day is as follows:
Christmas Day:
2011 - 1.41% = $0.06
2012 - 0.69% = $0.09
2013 - 10.37% = $70.26
2014 - 2.63% = $8.42
2015 - -8.37% = -$38.11
2016 - 0.72% = $6.45
2017 - 13.21% = $1838.94
2018 - 0.79% = $30.01
2019 - Wednesday
2020 - Friday
The Day that Christmas fell on:
Christmas Day:
2011 - Sunday
2012 - Tuesday
2013 - Wednesday
2014 - Thursday
2015 - Friday
2016 - Sunday
2017 - Monday
2018 - Tuesday
2019 - Wednesday
2020 - Friday
And the Week that housed Christmas and the results:
Holiday Week including Christmas:
Monday - Sunday
2011 - 19-25 = -8.84% = -$0.42
2012 - 24-30 = 0.08% = $0.01
2013 - 23-29 = 12.48% = $81.74
2014 - 22-28 = -5.87% = -$19.51
2015 - 21-27 = -3.81% = -$16.68
2016 - 19-25 = 13.41% = $106.07
2017 - 25-31 = -3.46% = -$482.09
2018 - 24-30 = -8.46% = -$341.24
2019 - 23-29 = ?
2020 - 21-27 = ?
So, besides 2015, on the Day of Christmas we have posted gains ranging from a low of 0.69% to a high of 13.21%.
The Weekly results were far less Bullish as 5 of 8 were weeks that resulted in a loss from Monday to Sunday. The losses ranged from -3.46% to -8.84% while the three weeks that rose from Monday to Sunday ranged from 0.08% up to 13.41%.
I wanted to see where the volume sat on Christmas in comparison to the Volume average.
Here are the results:
Christmas Day Above/Below
Average Volume:
2011 - Below
2012 - Below
2013 - Below
2014 - Below
2015 - Above
2016 - Below
2017 - Below
2018 - Below
2019 - ?
2020 - ?
Oddly enough, the only Christmas Day that posted negative results was also the only Christmas Day where the trading Volume was above average. That particular Christmas was in 2015 and landed on a Friday. It is also the only Friday Christmas we have data for. The next will be in 2020.
From here I wanted to capture the Local and Macro trends from which preceded the Week that Christmas fell into.
Here is an example from 2016:
Here is the resulting data:
Holiday Week Local/Macro Trend:
2011 - 19-25 = Up/Down
2012 - 24-30 = Range/Up
2013 - 23-29 = Up/Up
2014 - 22-28 = Down/Down
2015 - 21-27 = Down/Up
2016 - 19-25 = Up/Up
2017 - 25-31 = Down/Up
2018 - 24-30 = Up/Down
2019 - 23-29 = ?/Down
2020 - 21-27 = ?
So besides 2015 (which is suspect for other reasons) and 2017, the weeks gains or losses have confluence with the prevailing or Macro Trend. For 2015 and 2017 price seemed to follow more of the local trend instead of the Macro Trend. Sending 2015 out to the dumpster for obvious reasons, 2017 does make sense as that was the turning point after what we now know was the All Time High. The overall Macro trend was indeed Bullish as we were in Pullback mode but we didn't know at the time that only a handful days before was going to post record highs that we have yet to return to.
Potential Results:
Certainly nothing as clear cut as I would have liked but interesting nonetheless.
Avg Christmas Day came out to a positive 2.68% while Avg Weekly came out to a positive 1.65% from Monday open to Sunday Close for the week that Christmas fell into.
Every year except 2015 traded LOWER than Average Volume at the time.
Every Christmas except for 2015 (again) posted Gains for Christmas Day from Open to Close with a low of 0.69% and a high of 13.21%.
Besides 2015 (again...) and 2017, the other 6 years followed their respective overall Macro Trend when it came to the Week of Christmas.
Historically it appears that most December volume is in a decline from the beginning of the month and with Christmas at the end of the month it appears to suffer from very little trading volume as a general metric.
Our Macro Trend at the moment is DOWN and our current Volume has certainly struggled to post above average lately. It is a little too early to call the local trend as the last 4 days we have sat in range after a $700 candle to the upside.
For Coinbase We could only get data for 2015-2018 but by and large, things were confluent with STAMP.
That about wraps it up. I may add to this if some other metrics pop out. Something like the individual volume nodes for the week range and in what place was Christmas Day compared to the others, etc. We shall see...
Until then... Merry Christmas
STRATBTC Keys Resistance Broken| New Higher High!Hello Traders!
Welcome to another chart update,
Today’s chart will be on Stratis which has broken a key structural resistance level, now potentially support upon a retest.
Will Stratis continue with this bullish bias?
Points to consider,
- Daily trend change
- Key structural resistance broken
- Stochastics trading in upper region
- RSI in upper region
- EMA’s cross bullish
- Increase in volume
- VPVR decreasing in transactions
STRATBTC has confirmed a daily trend change by breaking a key resistance level and putting a new higher high. A retest of the key structural resistance will confirm an S/R flip; this is likely as we do have a small bearish divergence coming to fruition.
The stochastics is currently in the upper region, can stay here for an extended period of time, however lots of stored momentum to the downside. RSI is travelling in overbought regions; a retest of its support is highly probable.
EMA’s have crossed bullish, a strong indicator for a trend change, must hold true for Stratis if it starts to test upper regions.
Volume has clearly increased, this is very healthy and must sustain for follow though in price. The VPVR itself is decreasing in transactions, this signals that resistance is low for when Stratis when testing upper levels in terms of volume of transactions.
Overall, in my opinion, STRATBTC is likely to retest the now structural support to confirm a bullish re-test before making moves higher.
What are your thoughts?
Please leave a like and comment,
And remember,
“Once you find the system that works for your style/personality and confidence is gained, wash, rinse, repeat over and over again.” – Sunrisetrader
BTCUSD Strong Pump but Trend still Bearish Hello Traders!
Today’s chart update will be on BTC after its pump, which has put in yet another lower high in the trend.
Will this S/R flip hold BTC and break key resistance line?
Points to consider,
- Bear trend still intact
- S/R flip coming to fruition
- Key resistance line to break
- Stochastics in upper regions
- RSI in upper region
- EMA’s turning bullish
- Volume follow through required
Bitcoins consecutive lower highs have established a key trend line that needs to break for a bullish bias. This current S/R flip needs to hold BTC, and consolidate, as this will increase the probability of a trend change. Staunched resistance line needs to break as this will negate the lower high structure – a new higher lower will come to fruition.
The stochastics is currently in the upper regions, can stay here for an extended period of time, however lots of stored momentum to the down side. RSI is also in the upper region, a return back to support level is probable to cool it off.
EMA’s are crossing bullish; it needs to hold price support for a bullish bias. Volume itself is currently below average at current give time. BTC needs strong bull volume with follow through to break resistance and change overall structure.
Overall, in my opinion, BTC needs to break the staunched downwards sloping resistance line to negate the lower high structure. This needs volume follow thought to help avoid the chances of a false break. BTC is resting above support zone at current given time; this is a good sign for the bulls as it is confirming the S/R flip.
What are your thoughts?
Please leave a like and comment,
And remember
“Dangers of watching every tick are twofold: overtrading and increased chances of prematurely liquidating good positions” – Jack Schwager
**Please follow me on twitter for daily updates on fundamental news in the MJ and Crypto Speace ! :) Twitter handle in profile link
Volume Divergence / Coincidental Volume Spikes, hmm... Volume divergence to me is valuable, it says a lot if properly examined. So the the main thing that is obvious here is the bearish volume divergence. The late 2017 high compared to the mid 2019 high, with volume compared shows clear divergence. This should have been a big warning sign as it formed. Something more interesting is if you closely examine the price and volume structure you see a series of patterns that emerge. As you can clearly see going all the way back to 2017 there are a series of volume spikes that coincidentally appear at somewhat strategic points. In the market if you want to say theoretically push the market down, for what ever reason. You would first need to push the market up, this is cause and effect. By this cause/action of swiftly pushing the market up you can actually create the desired effect/reaction of causing either a swift pullback, or preferably a slow more controlled pullback that extends over a desired range of price and time. It is very evident that over the numerous examples posted on this chart of blow off tops, or just swift moves up, there seems to be a correlation of these events at somewhat strategic points. What I feel should be taken from this for instance the 12/18/19 rally earlier today. It appears to be just another strategically implemented cause/action, that if history repeats should complete the similar effect/reaction of numerous previous incidents. If you have taken today as a good sign, and not truly looked at what has really happened. You have only fell into yet another of a series of unfortunate events, in my opinion designed to separate you from your coin. Be safe out there, happy trading. Cheers...
ETCUSD 1D DESCENDING TRIANGLE SHRT BREAKOUT TRADEDescending Triangles, Triangles, Ascending Triangle and Ranges are repeatable trading chart patterns.
Triangles and ranges are consolidation chart patterns that can breakout either direction.
Ascending and descending chart patterns will have a directional bias depending on the previous incoming trend.
Each chart pattern will have defining trendlines of the support/resistance levels creating the pattern.
What ever time frame you are trading this chart pattern, wait for a candle close outside of the trendline in the direction of the breakout candle. (Our time frame preference is the Daily chart).
Add volume indicator - Volume is the amount of $ that went into a particular candle or in Forex the # of trades that took place.
Add ATR indicator - Volatility is the amount of price movement that occurred. Use the ATR to measure the price movement.
When you see descending Volume bars and descending ATR line (which indicates volatility) this shows
a dis-interest in traders to invest in this pair creating consolidation which creates the chart pattern.
Trade Management after there is a breakout candle close.
1 - Position size (compare volume bar to volume ma line).
a - Breakout candle must be 100% of average volume for a full position size.
b - If 75% of average volume then ½ position size. (To find 75% of Volume
look at the charts volume settings – divide smaller # into larger # = 75%+)
2 - Enter two trades.
3 - SL for both trades will be 1.5 x ATR.
4 - 1st trade TP will be 1 x ATR.
5 - No TP on 2nd trade – letting profit run and adjusting SL to follow price.
6 - When 1st TP hit – move 2nd trade SL to breakeven.
7 - Adjust the 2nd trade SL to follow price.
*8 – After Breakout candle – if price closes back into chart pattern close trade
*9 - When breakout candle is more than 1 ATR from breakout candle open.
a - Enter 1st trade at candle close with ½ position size.
b - Enter 2nd trade with a pending limit order that is 1 ATR of breakout candle open.
c – Price should pullback to that pending limit order for 2nd trade.
d – If Price returns back into chart pattern close trade before SL is hit.
BTC Bullish Divergence| Trend Line| ApexHello Traders!
Today’s chart update will be on BTC which has a probable bullish divergence as price travels close to its apex.
Will BTC respect its uprising trend line in this regression trend?
Points to consider,
- Trend in control by bears
- Structural Support to be tested
- Resistance retest confirmed
- Stochastics in lower regions
- RSI respecting trend line
- EMA’s resistance
BTC has put in consecutive lower lows in this regression trend; a break out of this channel will change the overall trend.
Structural support is yet to be tested, the $6000 psychological level is very key to hold for a bullish bias, if BTC was to test that low. The trend line is in confluence with support, signalling that buy pressure should push price up. Resistance level was confirmed by a bearish retest, sell pressure was too strong for bulls to break above, and we also have pressure coming in from the EMAs.
The stochastics is in currently in lower regions, can stay here for an extended period of time, however lots of stored momentum to the upside. The RSI is currently testing support, needs to hold true to confirm a probable bullish divergence.
Overall, in my opinion, BTC needs to break bullish from this current apex; this will respect the trend line coming in from yearly lows and confirm the bullish divergence.
What are your thoughts?
Please leave a like and comment
And remember,
“Sheer will and determination is no substitute for something that actually works.” – Jason Klatt
**Please follow me on twitter for daily updates on fundamental news in the MJ and Crypto Speace ! :) Twitter handle in profile link
CME Futures New Gap| Clear Resistance Line Hello Traders!
Welcome back to another update, today we will have a look at the BTC CME Futures chart, where a new gap has come to fruition.
Will this gap get filled sooner rather than later?
Points to consider,
- Trend Bearish
- Price testing .618 Fibonacci
- Strong down trend resistance
- RSI in oversold conditions
- Stochastics in lower regions
- Volume below average
The trend has been putting in consecutive lower highs, establishing a very strong downwards sloping resistance line. Support currently is held on the .618 Fibonacci level, a strong area theat needs to hold true.
The RSI is currently oversold; an oversold bounce looks imminent as the stochastics is in lower regions. Stochastics can stay here for an extended period of time, however lots of stored momentum to the upside.
Volume is well below average, this signals that a move is imminent as price travels closer and closer to its apex.
Overall, in my opinion, BTC is probable to respect the .618 Fibonacci level due to oversold indicators. A filling of the GAP may come to fruition sooner than later, very similar to the previous most recent CME futures gap (chart linked).
What are your thoughts?
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And remember,
“The market can stay irrational longer than you can stay solvent.” – John Maynard Keynes
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