alphahound777

alphahound777 Jun 30, 2020

A bullish pennant is forming on the 1 day chart. Aggressive traders can enter now on the lower side with a stop loss below the pennant border. More conservative plan would be to wait for a breakout above the upper border and then place a stop loss below the upper border. 200 day and 50 day MA as well as the lower pennant border all should provide support...

alphahound777 Updated  Jun 28, 2020

One more time. The last one worked nicely - I’m shorting right here with a stop loss above the upper pennant border. There’s a lot of strong support around these levels though so a stop loss is important, as a bounce off support is always possible.

alphahound777 Updated  Jun 27, 2020

A bearish pennant has formed on BTCUSD. A possible way to play would be to enter a short with a stop limit under the lower border of the pennant with a max target of around 450-650 points, depending upon where you measure the height of the flagpole. (Target could be less because of multiple strong support levels present along the way - 8800 or 8900 might be a...

alphahound777 Jun 27, 2020

A bearish pennant has formed on BTCUSD - traditionally suggests a further leg down. A possible play would be to go short with a stop limit short below the lower trend line. If executed, a stop loss order could be placed back at the pennant lower trend line. Target for the short would be around 450 points, the flagpole height (but could be smaller since there...

alphahound777 Jun 20, 2020

Seeing two traditionally bullish patterns on the daily BTC chart. Rising wedge pattern in the green and ascending triangle in the purple. Still tons of resistance at 10K and 10,500 but I anticipate that these will be broken through, and the there will probably be a pent up upwards move with a lot of blown stops when it does.

alphahound777 Updated  Jun 19, 2020

It is nice to see some consolidation and digestion after the sustained move up from March 23rd and the recent decline last week. Conditions certainly were frothy last week, and some of the headlines surrounding Robinhood traders brought back memories of the day trading manias of the late 1990s. That being said, the pullback last week was constructive,...

alphahound777 Jun 19, 2020

We saw an island reversal pattern on the SPX recently. Traditionally, as the name suggests, this pattern suggests a reversal of the recent trend. However, looking back at a history of prior island reversals, I found that during prior occurrences, there was a better than even chance of being higher at most time points in the medium term 15-90 days. So I...

alphahound777 Updated  Jun 19, 2020

BTC has been range bound for some time now. There has been particular difficulty breaking through the 10k barrier but we now appear to be tracing a descending triangle on the 4 hour chart. MACD also is showing weakness on the 4 hour chart. 50 and 200 day MA’s are also looming just above the current price. Would not be surprised to see a retest of the...