Crinklebine

Crinklebine

It looks like good risk/reward for a bounce in gold to $1300. The HnS was nullified and sentiment is bearish. A bounce to 20ma (and 50% retrace level) seems easily possible.

Crinklebine

This is why we got to about $145. I sold BTC that I picked up at $80. Waiting for next pattern.

Crinklebine

This is why we stopped at about $145 level.

Crinklebine

Factor 1 - Above all 3 moving averages. Factor 2 - Above the battle trend line (in blue). Factor 3 - 25% Fib retrace being taken out.

Crinklebine

If Gold gets to $1160 there is very good risk/reward at that price. There is a pivot at around $1156.70 and a symmetrical $424 price from the trend line that it broke down from. The price is quite far away at the moment but it's possible we get there in the next few months. Best trading.

Crinklebine

Its great to have BTCUSD charts. Look at the break of this trend line.

Crinklebine

I think this weekly chart illustrates the bull/bear outlook. A close above 169.07 gives the bulls control and a close below the rising trend line gives the bears control. A trader can go long or short right now and put the stop loss at a break (on a daily closing basis) of the appropriate trend line indicating the bias was incorrect. Best trading.

Crinklebine

If this chart plays out the mining sector is in for a world of hurt. I have not taken this play but it is interesting to note.

Crinklebine

Short MRK at above $41.25. Stop on a daily close above $41.66. We have the benefit of a tight stop. Target one is $40 take half off. Target two (final target) $38.34. 20ma is also crossing 200ma. Stock below all moving averages. Stock looks weak and poised for more downside.