FerroIgnique

FerroIgnique

Bitcoin appears to be conducting a classic retrace to and test of previous resistance, in purple at 15800. Its bouncing off the top of the ascending triangle with the 4h Vstop and 50 SMA providing additional support in case we wick through 15800. Black arrows indicate where we've slipped the 50SMA on the 4h several times since Oct. Accordingly my stop loss is at...

FerroIgnique

Dear Diary, Apologies for the terrible entry title. Crypto moves fast so a binary call is a bit rubbish, but I'm of the opinion the sideways action from the early Sept dump is nearly over. We dipped below the 50SMA, came back up to re-rest it on the 17-18th and went back down. I was expecting the price to continue to fill out this descending wedge, but it broke...

FerroIgnique

I have a ray at our previous top from Feb at 290 in light blue, Ive also extended the 50SMA in the same color for my two targets. ETH popped out of resistance at 400, going to 447 before trending down harshly, shorted entered at 405. Expected targets are in order of likelihood 1.a bounce off the 50SMA which could be between 320 and 380 depending on how the price...

FerroIgnique

I drew this 17 Aug when LINK Spiked down pretty hard. My initial thought was that Link would bull flag on the way down after that monstrous wick and I'd long near the box below where we had previously topped 9 Aug, but that bottom line started acting as resistance while ETH and BTC were trending down. My Bias now is that crypto as a will trend down until bitcoin...

FerroIgnique Updated 

Dear Journal; As we we see LINKUSD has been on a rager for the last several weeks, we can see many 20% days in there. Kraken lets me take LINKUSD and LINKETH x3, and ETHUSD x5. This set up is based on the curved top I see in ETHUSD. I appraise this as very bearish in the short term. It reminds me very much of the curve we had last Aug when BTCUSD spiked to a...

FerroIgnique

Yet again I am seeing a cup and handle; I have yet to see one and play it successfully every step of the way, I did a banger of a job shorting LINKETH, and catching the long. The 'handle' is hard to chart, because of the wicks, but I can see a falling wedge that may break up, but perhaps thats what I want to see. I should aslo note that I placed my stop loss 1-2...

FerroIgnique

Dear Journal, Yesterday evening the Stoch RSI was out on 1h, 4h, daily and overbought on the weekly. I was seeing resistance at 390, and so seeing closed out my XRP and ETH longs for very nice gains, with the idea that I'd stop into ETH at 396 if kept running, I had a stop loss at 376 in case it turned against me. Being rapacious had served me very well, so I...

FerroIgnique

Hello Journal and fellow traders. Methinks that ETH is showing signs of continuing this uptrend, for a significant amount of time and increase percentage. Please attend the two ascending triangles. The fuchsia on the right was drawn about a week ago as I set up this trade posts linked below. The one in purple on the right is from today's analysis.The purple...

FerroIgnique Updated 

Good morning traders, I am of the mind that ETH is and will be showing strength in trend and tradability against bitcoin. As we can see in the above chart ETH has held the 50 SMA since mid April and the Ichimoku cloud since mid may. Contrast that with Bitcoin, which has been below the 50 SMA and in the cloud for ~3 weeks. Back to ETH and the chart in the post;...

FerroIgnique Updated 

This isn't advice, is a trading journal. But that being said I've opened a position into shorting LINKETH. This is a very illiquid market, Kraken, the exchange I use sometimes goes hours without reporting a trade and the variance across exchanges can be significant. Additionally, because the exchanges have such variance in price action the oscillators are totally...

FerroIgnique

My last post was very, very bullish. However, I have no trades on. The price action is below the 50 SMA, in the cloud and below the Volatility stop. I'm not taking any shorts, but my last couple of longs got in the money, then retreated to my stop-loss. So I'm waiting.

FerroIgnique

Inspiring new Traders. The Hash ribbon, which is a function of miners activity and price has flashed a buy signal. As measured on the chart its been worth between 36-45% this year. I've drawn it at 30% which accounts for what appears to be diminishing performance. But regardless, it points towards a reversal in trend, with the likihood that we start setting higher...

FerroIgnique

The last two rising wedges broke to the upside, impulsivity. If the formation we're in is a rising wedge then we should expect to break past out 10.5k resistance before consolidating around our highs last summer. My fear that started developing last week was that were were forming a very clean left shoulder and head, but it started to get messy past the head...

FerroIgnique

We have a 19% pullback over 3 day and a long, long wick. We bounced through the Bollinger Band Midline and right of the 200 SMA. As such I view this as a long squeeze thats been filled, and access the price will recover. I am currently long, against my rules of following HA candles. But we're also bouncing off the ichimoku base line. This has got to be one of...

FerroIgnique

Let me have your attention for a moment! So you're talking about what? You're talking about that trade you shot, some whale that doesn't want to buy, somebody that doesn't fill your limit order, some retail trader you're trying to liquidate and so forth. You call yourself a investor, you stopless trader? The good news is -- you're liquidated. The bad news is...

FerroIgnique Updated 

Not Advice, but a trading Diary. Deer Diary. I have been very bullish and I remain very bullish in the middle to long term. Bitcoins stayed above the Ichimoku Cloud's conversion line and has the Heikin Ashi Colors have gone from green to red. As mentioned in the last post I was stopped out for a very nice profit and went short in ETH. Neither Take profit or...

FerroIgnique Updated 

Not Financial Advice, but more of a diary. My strategy is to set the candles to Heikin Ashi to remove the noise and trail my stops up one day behind, and then use some discernment to when I should stop adding with my equity from my margin, take profit, or see If I get stopped out. I have been stopped out. I rode the 23 April candle up, keeping my stop one day...

FerroIgnique

Ave Crypto! We who are about to get Liquidated Salute you! Its my earnest hope that we all make it, brah. Looking at the weekly it looked like easy money, but this was pretty volatile and after several God Tier Trades Loki game by and made me broki, so I took some time away and just recently started trading in Ernest. This weekly snap gives us some relative...