ericisom887

ericisom887 Updated 

I feel elliot waves are most applicable in volatile trading - given Hertz has been given till the 21st to restructure their debt, I'm going to try and get in below the price point of 3.30 a share. 25% exit at the first 50% exit at the second 25% at the third Stake is 293 Shares

ericisom887 Updated 

When in a bear market - the first initial retracement happens violently fast - as this one has. But the one common thing they all have is they tend to lose their fuel around the 0.5 Fibonacci retracement . (Read this article for a reference in the .com boom and the 08 crash) www.marketwatch.com So is this a bear market? It seems to be meeting a lot of resistance...

ericisom887

While the tides may have changed and we may have a short term bottom - don't fool yourself. Bitcoin is primed for a bullback around the $6600-$6500 range.

ericisom887

There's been some rumors that the fed will be reigning back their expansive balance sheet. www.barrons.com Read the article above for reference. I believe there will be another drop followed by a temporary pullback. We'll see how it plays out :)

ericisom887 Updated 

Basing this off of previous resistance lines. What a flipping move though. So god damn happy to be back on the up and up.

ericisom887

Though in 2017 bad market news is what caused the majority of the downfall, there's a lot of possibility for short term goods new and bad news. From a technical perspective, we could definitely see this similar playout. Just my thoughts :)

ericisom887

A lot of volume has been flowing out for a good bit now, this entire comeback in the market will most likely not last. It will either form a double bottom or break that resistance reversing nearly all of last year's gains.

ericisom887

Reasons I suspect the following trend to take place: VMACD 144 showing massive accumulation VMACD 610 starting to go positive indicating trend change confirmation Most likely there will be one last massive downward movement to attempt to squeeze existing longs that are leveraged, then it will proceed to break just above 110 Personal TA

ericisom887

Results when I used 2 averaged lines to buy and sell at the crosspoints, little noisy atm, results are from 3 ETH, NO LEVERAGING! :D Still working on limiting noise, buy a VERY effective indicator nonetheless!

ericisom887

Smart money is flowing out and has been for almost a week, was waiting for this dump. Most people think it's oversold so I expect a short comeup but a major comedown. Crazy idea from a crazy TA :)

ericisom887

Most likely will have a big come up to fake out bulls, true bottom is still yet to come. Partially because of main institutional investors still being hesitant to fully enter the game. Lowest Bottom Possible: $5,250 High Before Bear Run : $6,350-6,400 Just my take :)