elegant_banzai

elegant_banzai

MAID has done some serious rollercoaster ride in 2017. Now its time to get some shit done. The retest of the 133 day line is supported by a lengthy accumulation phase that just got finished with some sideways action. As soon as the altcoins market starts moving upwards I expect a breakout of this little gem and some serious twitter shilling. I would wait for the...

elegant_banzai Updated 

Often at the end of the correction we see hidden bullish divergences. Since the major trend still shows up, we can expect new all time highs and a new stage of the rally from here.

elegant_banzai Updated 

Just a reminder that a head and shoulders pattern does almost never come in its purest form. The idea behind the head and shoulders pattern is that the right shoulder does not reach the top. There can be more than 1 right shoulder and a fake breakout before the real breakout. Up till now we have not seen the right shoulder going higher than the left shoulder. But...

elegant_banzai

EMA 13 crossed EMA 48 on the 4 hour chart. Entry on the EMA 9, SL slightly below the crossing.

elegant_banzai

Allianz presented good earnings and left its extended sideways consolidation to the downside. I watch at several factors here to find a target. First of all the 13 EMA crossed the longer 48 EMA which ends the uptrend that started in late 2016 and pulled trough the year 2017. A 24% correction should be the minimum which corresponds to a correction wave C extending...

elegant_banzai

Now that the pennant broke it can be read as a finalized wave B followed by the wave C in the ABC correction pattern. Wave C tends to be the strongest impulse wave down. So it will most likely be as long as wave A or longer, meaning that we can see the 5000-9000 USD area as a new buying opportunity to pick up new coins. It's a wide range, but you don't want to...

elegant_banzai

Once it dips, good chance to explode.

elegant_banzai

The triangle is about 75% percent complete and is ready to break to the upside with a first target about 25% higher. The stock bottomed out for about 2 years and the price just broke the Bollinger band to the upside. Monitor this stock closely to find a good entry that reduces your risk. Currently the risk reward ratio is not favorable enough. A breakout candle...

elegant_banzai

Everything is possible always. Currently I am searching for stocks that are in sideways consolidation and have a short term Bollinger band reaching outside of the longer term Bollinger band. This gives me the possibility to position myself to play for a retracement to the opposite side of the channel and gives me a meaningful stop loss outside of the short term...

elegant_banzai

Just now the first time since the top the Bollinger bands on the 4h and the 1h chart showed a bullish signal. On the 4h chart the midline was crossed with a strong candle pushing price upwards to switch to show signs of trend reversal. Right now shorts should exit their trades if they trade the 4h candles. On the 1h chart the upper Bollinger band got crossed by...

elegant_banzai

the last leg down up was recovered by 62%. a typical 3 wave move (wave B of ABC) would bring us back to around 62% of the full downward movement or around the area of minor wave 4 of A. That would lead us to a recovery target of 16400, which coincides with the hourly SMA 200. to trade this setup, look for signs of reversal after a possible already running wave b...

elegant_banzai Updated 

Simply no trend reversal in sight yet.

elegant_banzai Updated 

The current pullback has 5 waves. thus it should be seen as wave A of a ABC correction. The wave B should retrace the wave A by 50-62% which corresponds roughly with the crossover of the SMA 100 and SMA 200 in the hourly chart. Wave C should be a violent downswing that reaches the length of wave A or more. that would bring us down to the 10000 area next. The...

elegant_banzai

I bought back in. Now is the time to be extremely cautious since this is the best indicator for the end of the rally. I expect slow growth till 27k over the next few weeks, after waiting for the correction for half a year. Be advised, I have a bad track record when it comes to bull runs. The red line is my stop loss.

elegant_banzai

With a tight stop loss and potential to reach the upper Bollinger band and reverse. MACD is showing higher highs. Long entry is around the cross of the SMA 50 and SMA 100 or as low as the crossing between SMA 50 and SMA 20. Stop loss slightly below the lower crossing. XEM implements a decentralized exchange with unprecedented speed. This topic will be hot.

elegant_banzai

When the price comes anywhere near the 18 day average in the logarithmic weekly chart, you should see a bounce back to at least near the all time high. As almost every weekly red candle but the previous one ultimately lead to a retracement to the 18 week average. Momentum supports that the next leg down to support will have a bounce back up with a higher high to come.

elegant_banzai

On the one hand this monthly chart shows a bullish outlook since the rising tennant is the best sign for a continuation of the uptrend. On the other hand the momentum divergences in the monthly chart are multiswing and happen near a failed touch on the upper resistence. This indicates that the next swing high short term and medium term will be lower than the...

elegant_banzai

In the current situation there is no up or down indicated. The price could be in a bear flag. it has completed a 61% retracement and went above that toward the 78% retracement but not touching it. The last leg up was celebrated as a breakout but price turned back down to play the range game in between its Bollinger bands. This assumption is supported by the low...