Some quick price action analysis shows an uptrend. Hoping to make an easy 50% here.
Tesla has been riding a rather aggressive uptrend. Today Elon Musk publicly admitted the possibility of moving Tesla headquarters to Texas or Nevada. Clearly Tesla is having operational problems in the golden state. This might be the news that breaks the uptrend? If so we should be looking for a bounce off previous supports.
When looking at the weekly we clearly have some very old, strong fractals. Remember macro pattern/fractals are MUCH stronger than micro patterns. We have been bullish for the past few weeks, time for a few weeks down. Will be holding my short for couple weeks. We might even get a break out on the bottom side. Expecting a wick out of the fractal but not a close...
When looking at the weekly we clearly have some very old, strong fractals. Remember macro pattern/fractals are MUCH stronger than micro patterns. We have bullish for the past few weeks, time for a few weeks down. Will be holding my short for at least a week. Expecting a wick out of the fractal but not a close above. If we get a close above it's likely a bull...
RSI divergence is our main sell signal here. There's also some fractal support/resistance here. Will be re-entering $M @ 5.20. REMEMBER Risk Management 50% of trading Technical analysis 25% of trading Fundamentals 25% of trading Don't forget to drop a like! Feel free to engage and ask questions! Best of luck to everyone!
These past few days the market has been very kind to us.Unfortunately it looks like our channel may be coming to an end. There's a solid support/resistance line in the middle of our channel to keep an eye on Now is the time to be dynamic, nimble and watch for the break out. Watch for break out reversal. Watch that BTC wallet keep growing! REMEMBER Risk...
Seeing several possibilities here, not hoping to catch the whole movement just 60% give or take. Currently in three positions all 2:1 or greater never risking more then 2% of my stack Risk Management 50% of trading Technical analysis 25% of trading Fundamentals 25% of trading Don't forget to drop a like! Feel free to engage and ask questions! Good luck to...
Quick 2:1 BCH Long Don't forget to drop a like! Feel free to engage and ask questions! Good luck to everyone in their pursuit of financial freedom!
Quick 2:1 ETH Short Ez money Don't forget to drop a like! Feel free to engage and ask questions! Good luck to everyone in their pursuit of financial freedom!
Have always been a proponent of Fibonacci and use it heavily in my technical analysis. Looking at the 15 minutes time frame it definitely looks to be cooling down on the micro. Find lots of confluence on the fibs and other indicators are all pointing bearish with a slight bounce/consolidation happening currently. Look to top of channel for entry. On the macro 1D...
Fundamentals always trump technical analysis. Tether dump, wanna be BTC baller fomo and Fidelity adoption among other adoption ( Bitcoin satellites to name one of my favorites! :) ) are driving the price up! Now that being said everything has a top, at least a temporary one anyways. Top/bottom hunting is one of the most difficult things to master in technical...
Taking a quick short, basically riding consoldiation with almost 2:1 R/W. Market is crazy right now so keep close watch, make sure to have stop losses in place.
Looking at the weekly it's clearly time to take a break and consolidate and possibly test some support levels.
After testing a bullish channel breakout and failing BCH will capitulate back into the channel and likely test the opposite side.