TravisStroud

TravisStroud

We can now see a huge shooting star candle formed on the weekly. When you zoom out to the weekly you can see that the recent move higher was just a disgusting fake-out. Many long positions were triggered and subsequently liquidated or stopped-out. The last 2 days have erased a whole week of gains so momentum is going with the bears. Im expecting it to breakout...

TravisStroud

As stated the USD has been working its way down to meet ascending support which is very close now. Im expecting support to hold and the USD to continue higher thereafter. Risk on assets like stocks and Bitcoin likely to reverse and head lower as I believe the recent bullish activity was a dead cat bounce.

TravisStroud

Once again Bitcoin has meandered out of a clear pattern without any significant rise in volume. It has found resistance at the top of an ascending channel which I didnt see until I cloned the line of support and moved it above. If it continues to climb within the channel Im expecting heavy resistance as it reaches the downward sloping long-term resistance line....

TravisStroud

Bitcoin is still clearly in a bear flag pattern. A break lower with volume will signal a target of $11500.

TravisStroud Updated 

DJI seems to be in a megaphone pattern on the weekly with a hanging man candle right at resistance. A red candle next week should confirm reversal. If it falls below 29200 with momentum I'm expecting 29200 to act as resistance thereafter.

TravisStroud

The target for the break lower of the current bear flag matches the target for the previous descending triangle and also lines up with previous areas of significant resistance. Coincidence? I think not!!!

TravisStroud Updated 

In the last 24 hours Bitcoin climbed out of the bear flag only to fall back within. Low volume with the move signals a fake-out. Im expecting Bitcoin to reverse now to re-test support.

TravisStroud

ETH seems to be getting constricted between long-term resistance and short-term support. Normally this would be a bullish pattern but as the resistance is longer-term Im expecting it to hold and ETH to break-out lower. Next levels to watch are 680 and 450. Im calling the bottom at 450 before it begins the next market cycle.

TravisStroud

DXY is still making its way down to meet support so that it can resume its up-trend.

TravisStroud

Sometimes the price just meanders out of a clear pattern and doesn't fall back in as a fake-out, nor does it have any significant increase in volume and continue the move. This just means the lines need to be adjusted because the market is not ready for a breakout yet and needs more time to build buying or selling pressure. In this case the price moved higher out...

TravisStroud

I lack the time for a short-term trading strategy so I am going to keep it really simple. Please comment your thoughts on the logic. Cheers in advance.

TravisStroud

After moving higher out of the flag pattern it seems to have pulled back a bit and there is no volume increase so Im expecting it to reverse and then fall below the pattern where volume will increase as everyone rushes for the exits.

TravisStroud

Bitcoin has moved higher out of the flag pattern on the 4 hourly but is it a fake-out? Long orders set above the pattern have now been triggered and an increase of volume would signal a continuation up to around 18300. Volume remaining low would signal that this move is a fake-out to trigger long orders and force them to stop-out or liquidate as it reverses. My...

TravisStroud

After breaking below short term ascending support the USD has been consolidating. I expect it to continue higher once it confirms support from the longer-term ascending trend-line.

TravisStroud

Moves higher and lower recently without heavy volume forced me to adjust my chart a little. Sometimes you need to go to a longer time-frame to see the bigger picture because the shorter timeframes give false signals. I suspect that Bitcoin is still within a bear flag pattern with a few fake-outs higher and lower. Im looking for it to break lower in the next 2-3...

TravisStroud

This image shows why fake-outs occur. When a coming move is fairly obvious it causes a build up of short positions below the expected breakout. Trading platforms then profit from pumping the price to liquidate or activate stop losses of these shorts. The arrows show what may happen to the price over the next few days. It may even fake-out higher to trigger a bunch...

TravisStroud

Bitcoin has fallen below support out of the descending triangle pattern. There is still not enough volume to call it a break out though. Be careful shorting here as trading platforms often pump the price back up to liquidate short positions before the inevitable fall.

TravisStroud

After breaking short-term support in a pennant formation Bitcoin dropped 4.5% but there was nowhere near enough volume to call it a breakout. It has now settled into a descending triangle pattern which has more likelihood of breaking out lower than higher with a short-term target of $13500. Medium-term target is still $11500 and bottom at $8-9k in a few weeks to a...