priceactiontds

priceactiontds

Good Evening and I hope you are well. comment: If you are a bull and longed anything last week and market hit your 24000 target today, you either took profits at the top and were happy about it or you watched them burn. Now what should we expect when the market hits 24000 the next time? Will bulls willingly hold through another pullback, knowing that it could be...

priceactiontds

Good Day and I hope you are well. #btcusd - bitcoin comment: Can’t be anything but bullish. Weekly chart is clear as day and we are in the third leg up. current market cycle: bull trend inside a big bull wedge and we are close to the top key levels: 85k - 100k (if bears somehow manage to get below 85k again, we test 80k next) bull case: Upside will likely be...

priceactiontds

Good Day and I hope you are well. comment: Market closed near the high of the week and we made a textbook double bottom below 56. Sometimes it’s not more complicated than that to take a trade. current market cycle: trading range on monthly tf and bear trend on the daily key levels: 58 - 64 bull case: 63 is my first bull target, followed by 64 and above 64.38...

priceactiontds

Good Day and I hope you are well. comment: Not much changed last week so I do not change much of what I wrote then. Bulls want at least 20536 now and run all the stops from before the big sell-off. Bears are not doing anything at all, so bulls will likely get it. This could be a breakout-retest and I marked the area for that with the red rectangle. Small chance...

priceactiontds

Good Day and I hope you are well. comment: Bull targets are met and we have 4 legs up. 5 even if you count the spikes at the lows. We can do higher but what are the odds? Market is overdue for correction again and given that we easily could do -20% from here, it will be a tough summer. Technically it’s still just bullish but I would not buy up here....

priceactiontds

Good Evening and I hope you are well. comment: Market closed where it opened, after the early rally from Globex to mid EU session and then another one after the US open bear trap. I could not believe that bulls would do another strong move up after such a rejection above 20250 but meh. Can they really do another tomorrow after yet another strong rejection? Until...

priceactiontds

Good Evening and I hope you are well. comment: Triangle as in other markets, will likely do a strong move tomorrow or Friday. current market cycle: trading range key levels: 21000 - 24000 bull case: Bulls see this as a shallow/sideways pullback at the highs and want continuation for a new ath. They are trading far above the daily 20ema and the volume is...

priceactiontds

Good Evening and I hope you are well. comment: Clear trading range 19700 - 20300, don’t make it more complicated. We have FOMC tomorrow, then we will get a new impulse. current market cycle: trading range key levels: 19700 - 20300 bull case: Bulls defended the gap below to 19650 and prevent the bears from printing a bearish daily bear bar. Bulls are fine with...

priceactiontds

Good Evening and I hope you are well. comment: Historic rally we are witnessing. This move is as unlikely, climactic and overdone as can be. Yet we only move higher. Can’t short this yet. Bulls in full control, don’t fight it. current market cycle: trading range key levels: 21000 - 24000 bull case: Bulls will likely go for 24000 over the next days. Since no...

priceactiontds

Good Evening and I hope you are well. comment: Only Thursday was bullish and right now market is trying to decide if this breakout was legit or not. If bulls can stay above 95000, the breakout above has a higher chance of being succesful. Below 94000 it has likely failed and I favor the bears for more downside. current market cycle: weekly chart says...

priceactiontds

Good Evening and I hope you are well. comment: Bears defended the breakout area and kept the market in a bear trend. Bulls tried to print a higher low with a decent bull reversal bar on Thursday. Now what? No idea. Oil below 60 is a big thing and staying below is somewhat low probability, given the past 6 years. The chart is still pretty bearish and if you want...

priceactiontds

Good Evening and I hope you are well. comment: Bulls want at least 20536 now and run all the stops from before the big sell-off. Bears are not doing anything at all, so bulls will likely get it. This could be a breakout-retest and I marked the area for that with the red rectangle. Small chance bears come around next week but for now it’s too early to short and...

priceactiontds

Good Evening and I hope you are well. comment: No one knows if this will be a lower high or a new ath. It does not matter. Buying up here is bad no matter how you look at it. Sure it can be good for a scalp but any bull stop is far away. Until bears start closing gaps, bulls remain in full control. Make no mistake, this is one of those instances where economic...

priceactiontds

Good Evening and I hope you are well. comment: Way tougher than it looks. Both sides have good arguments why this continues higher or why today marked the top. I have a heavy bearish bias but I confirmation would only be below 19090 and that’s 700 points down. I do think if bears can close the gap down to 19640, we retest 19300 and there we have the first bull...

priceactiontds

Good Evening and I hope you are well. comment: Still favoring doing a lower high print but we are close enough to 23000 that market can go higher. No more obvious resistance. A big maybe is the bear gap up to 23050 but that’s a gamble I am not willing to take. Today should have marked the start of the reversal with the huge bear spike but the bull reversal was...

priceactiontds

Good Evening and I hope you are well. comment: We see big bear spikes but no follow-through. Once every dip stalls, bears are out and bulls take over again and inching this higher. Tomorrow we either get a strong breakout above or below. As of now bulls are in full control, since bears have not traded below the prior’s day low for 6 consecutive trading days. Pain...

priceactiontds

Good Evening and I hope you are well. comment: Market went nowhere past week so nothing changed from my last weeks update. Bulls want to retest the upper bear trend line around 69 and bears reversing below the 50% retracement of the bear trend that started in January. I do not have an opinion on where the breakout will happen, I can see it going both...

priceactiontds

Good Evening and I hope you are well. comment: tl;dr covered it. Markets denied me fantasy, tough excrement. On the weekly chart it’s still just a textbook two-legged pullback to the moving average (daily 20 in this case, which is around 20000). We are also still close enough to the 50% retracement that it’s not out of the question that we reverse from here....