Traders, As expected, SPY bounced off of that 200-day SMA and performed a classic retest of the underside of our previous support, the neckline of our H&S. Now, the only question that remains is do the bulls have enough in them to break back above or do we remain on the underside of this neckline and potentially drop back down ...maybe even breaking the bottom of...
Traders, As stated in an earlier post, BTC held my long-standing neckline at 25,200 and then absorbed the 26,500 price. With the hidden bullish divergence spotted on the RSI, the price now favors the bulls slightly. BTC.D continues to trend down and this gives the alts a good chance to follow the lead of BTC. So, as promised, I have begun to pick through a few...
Got stopped out of my last position in COMP due to a trailing stop. Not mad tho. Ended up with 21% profit in the pockets. I hate to be out of this trade esp. since the MM's have been moving everything up during off hours. This bull flag here looks primed and prepped. Additionally, we have a hammer candle on the daily. Entry was 43.73. I'll target 58. SL will be 39...
Quick long play here. Doge found support at .06 cents. I missed an entry there but I still feel like this is a good play from current price. Entered at .06116. Target is TBD (top of the triangle). SL is .059 (trailing upon profit). R/R 2.6 Not fin advice. Best, Stew
Traders, With the dollar and VIX down, there are no surprises with our SPY chart showing a nice big green candle on the daily. The question remains though, will we stay in my channel and above the 200-day sma or will we continue to proceed down to the H&S target of 410? My best guess is that we'll remain in our channel. As postulated previously, the 200-day SMA...
Traders, After trailing my stops in the last entry at around 27k, I was stopped out with a 2.3% gain. Now we look to have formed another bull flag. I have re-entered here at 27,400. Target 30k. SL starts at 26,160 but will trail again once in profit. R/R 2. Best, Stew
Traders, The dollar is now starting 12 weeks of green. You can see that today it has touched the top of its channel and that has acted as resistance. Additionally, the RSI shows that the dollar strength is now over-extended. I smell a pullback coming very soon. Possibly before the weekend. The SPY (which correlates in part with other major indexes) has this Head...
Traders, Optimism with the triangle breakout and retest is a solid entry rn. Additionally, there is some hidden bullish divergence occurring on the RSI! Entry = 1.34 Target = 1.58 SL = 1.25 r/r = 3 Not fin advice. Just showing you all what I am currently playing. Best, Stew
Traders, I was stopped out of three trades today but all of them had nice little profits. I'll take that going long in a bear market. Let's continue our win streak. I've added Audio as a long play to at least that 100-day ma around 16.75 cents. SL is 14 cents for an r/r of up to 2.7. Technicals here show a break of our long-standing bullish descending...
Traders, I was stopped out of three trades today but all of them had nice little profits. I'll take that going long in a bear market. Let's continue our win streak. I've added XRP as a long play to at least that 100-day ma. The red level just above that at 58.5 cents is likely where I'd take 100% off of the table. SL is 49.2 cents for an r/r of up to...
Traders, In this video, I am cruising through my altcoin list. These are a few alts that I enjoy trading. We'll look at setup opportunities, technical patterns, and discuss potential entry prices. Hope you enjoy. Stew
Traders, In addition to breaking out of the triangle, LTC has now formed and broken the neckline of an Inverse Head and Shoulders. The target here takes us straight to the underside of that RED TL (major resistance) and that will be my target. Entry = 67.67 Target = around 78-80 SL = under 63 R/R = 2.5 Additionally, I have move the stops of ALL my other trades...
Traders, Due to all the bullish indicators I listed in my last post (video), I will be buying Bitcoin here with a target of 31,600 and SL of around 25,000. 1. Our 25,300 Neckline has held once again! 2. 26,300-26,500 Price has absorbed with accumulation 3. RSI Hidden Bullish Divergence 4. Break/Retest of Descending TL & 50-day ma AoC 5. Bull Flag on the...
Traders, Here are the top 5 bullish technical indicators I am seeing right now on the Bitcoin daily chart: 00:23 - 1. Our 25,300 Neckline has held once again! 01:30 - 2. 26,300-26,500 Price has absorbed with accumulation 02:45 - 3. RSI Hidden Bullish Divergence 03:50 - 4. Break/Retest of Descending TL & 50-day ma AoC 04:48 - 5. Bull Flag on the Daily Best, Stew
Traders,Bitcoin is now once again slightly bullishly biased. It has now absorbed the 26,300-26,500 price sufficiently and more accumulation has occurred. Additionally, we can observe a break to the upside of a descending TL and retest. Finally, the RSI is showing bullish divergence.However, with the threat of a gov’t shutdown looming, all bets are off when it...
Traders, A strong dollar (11 weeks straight of green candles) and an elevated VIX has helped to trigger a break of this H&S neckline on the SPY chart. The pattern is now playing out but we are on support on the RSI chart where we can usually expect a bounce. Additionally, we have strong support at the 200 day ma just below us. Our target on this H&S is 410. The...
Traders, In yesterday's post, I hinted at the fact that it looks as though SPY's upward trend, irrational as it may seem, will continue, fulfilling my blow-off top thesis. I still believe this to be true. However, along the way up, there will be obvious pullbacks. We now have what looks to be a completed H&S pattern formed on SPY. Currently, we are testing this...
