🔴 High Risk Short
Bearish Market Structure Shift caused by price meeting origin of Daily MSS from Mar04. Trade mapped on the hourly timeframe; focusing on impulsive swing high at $5956.25 that created MSS.
Entry on measured 61.8% fib retracement @ $5914.75.
TP1: $5873.25 (1R)
TP2: $5822.25 (2.25R)
Second take profit level lines up with both 200SMA ...
I can clearly count 5 waves down, including an extended 5th wave. Following this, price printed a clear Market Structure Shift.
I have marked anywhere from the 0.79 fibonacci to the swing lows as a clean buy area for the bullrun.
Will be 1 of 2 "blue chip altcoins" allocations in my portfolio.
Emphasis on the word ALTS. Cronos is not a bluechip. But in the...
August 27th, 2023
4H ~ because the US Dollar is clearly in such a strong uptrend, I believe the price action objective is to take out the HTF resistance. Whether or not the intention is to take liquidity or truly shift structure remains to be seen.
Until the current red/green range is resolved, markets have no clear direction. Choppy and probably great to trade...
TV wouldn't let me write "ICT" in the title lol
Anyhow, here's a great example of a clean SMC/ICT continuation trade on the 15min timeframe.
I generally like to watch the Euro on the 4H, but since I don't have a setup at the moment, I thought I'd flip to the lower timeframes and play around with Replay.
1. The first thing that caught my attention was the break...
1W: Behaving like a range; anticipating a bullish summer where USDT dom rejects the mid, confirms bearish fractal, and BTC pumps through resistances. Those should line up with a sweep on USDT, and present great swing short opps
1D: Play blue range until it’s broken
Would love to see run of channel highs/big sweep of liqs above 30K. Would load 1/2 position here, and other 1/2 on Daily candle close back inside range
04/04 ~
Need weekly close above $4147.75 in order for valid 5th wave to complete move. Anything less leads me to believe we get a pullback and one more push up into supply, before a greater correction.
Plan: Wait for break and retest then short this bitch on Primexbt
A lot of ppl have been asking for my view on gold as an investment during this recessionary environment. IMHO, Gold just continues to be a great hedge at this time. Will it be great for growth? Not sure. Could just range for another 2 years. But $1611 remains key support for now, and on the tailwinds of the macroeconomic outlook, it’s reasonable to assume gold...
RANGEBOUND TIL FURTHER NOTICE
Can play it as a range but this suggests to me Canadian and US currencies are balanced
better FX opportunities. Like euro!
Yearly - 5 waves down into 3M demand. On monthly, EUR should be rallying to form a HTF wave 1 all year.
Looking to play range of 1.03522-1.10328 with goal of securing solid HTF swing position.
Weekly ~ Believe price will sweep the highs. Looking for wick entry for 1/2 size, and other 50% following candle close back inside range. Ride short to midrange
monthly uptrend, if HTF PA completes zigzag correction, can revisit HTF support trend line
weekly, price in line w/ ABC. In April will see DXY complete 5th wave into demand @ 0.99 - 1.00
Tue, 04/04 ~
2023 has printed a HH into LL @ gfib; a setup for reversal. Next wave should form LH. This should be btwn 4.361%-4.580%
Us govt reversed 2/3 of QT recently (hence recent downtrend) so could see weakness in 2yr over coming months
Rmb Bonds down, mkt up and vice versa
As far as I can see, yield curve continues to trend down(LLs/LHs). New range established. Will treat PA accordingly.
when trend reverses may be a bullish sign. should occur before market turn bullish.
~ 5w up ended 04/2008 and we are now completing 5 down into gfib; may even be complete.
Assuming 1 more leg down from 1M tf. Bearish unless invalidated.
When last wave complete, W1 of new 3M 5up beginning. Only question is: new impulse? Or ABC?
![BTC1!: 04/04 Trade Setup: BTC [2H]](https://s3.tradingview.com/5/5UHSom53_mid.png "04/04 Trade Setup: BTC [2H]")
