MarketMonk

MarketMonk

At this moment, we can't really determine, based on how NASDAQ:CARA played out this morning, whether or not the market will continue along the larger channel or degenerate below 6$ price range, playing out a new trading topology. For now, we will stay conservative, keep the 3% price movement winnings from this morning in our pockets and wait until the smaller...

MarketMonk

Unless something crazy happens, CARA is poised to move into the 8$ range over the coming weeks.The pullback point is almost perfectly aligned with the long term Fibonacci pivot at 6.30 interestingly enough. Our profit target should be in the area of 6.70-6.90 or a 6-10% gain respectively, expect this to play out over the next few days. NASDAQ:CARA

MarketMonk

All indicators show that the dailies will very likely continue their channeling behavior up to 1.4ish price range. If you haven't already entered this market, this would be a very good time to catch the uptrend using 15 min. charts to wait for a temporary pullback on daily volatility.

MarketMonk

Stay out of the market and wait for the price movement to indicate a high probability short/long (long term) entry in the next 2-3 days. In the short term, price will move either to the 3.25 ish range bouncing off the lower K-channel OR consolidate between the 75-150 DMA at the 3.37ish range. Remember: Don't chase the markets, use stops on all trades, trade with...

MarketMonk

High probability that AUY will return and possibly bounce off of 4.50 resistance zone established by previous local minimums. Below K-channel, Bband movement, STC, Laguerre RSI indicate that one has a high probability chance of shorting the market in the near term.

MarketMonk

Short BTC:USD for 4 reasons: Bbands are moving outward indicating significant price movement is about to occur, this is followed by the K-channels moving downward which indicates with high probability that the price will move towards the 452-451 support zones. Additionally, STC and Laguerre RSI indicators all have fallen below their respective "short" points.

MarketMonk

Decent chance to short to 3.90-4.00 range, depending on morning price action. Price consolidation occurred throughout the intraday trend and has now broken past the downward triangle pattern where the price has fallen below the 20 period BB. Stop loss should be at 4.15-4.20 range if price reverses past the EVWMA lines which act as our trend reversal signal mechanism.