thedailychartist

thedailychartist Updated  Jun 1, 2022

USDCAD about to bump a support level that I am watching but if current risk on sentiment (across the board) keeps up, we may see a run down (or at least an attempt) to the 1.2460 levels.

thedailychartist Nov 11, 2021

A simple measured move objective gives us 2.50 as a target for this breakout. Above that is pure price discovery. We are still waiting for a weekly close to confirm this breakout but looking good right now. I mean, as long as $BTC doesn't crap on us, we are looking good for now...

thedailychartist Updated  Nov 11, 2021

Structure break on LTF and now re-testing support. Maybe not yet the best timing as alts continue to be suppressed by BTC dominance and BTC not yet breaking out to new ATH but this looks like it's worth the risk if we're targeting 260 (measured target for a pennant breakout).

thedailychartist Updated  Nov 11, 2021

HUGE pennant breakout setup. Potentially a double-your-money swing trade on minimal risk (i.e. approx. 1:5 RR target). Already bought a small position. To scale in on breakout confirm. Not a financial or trade advice. Know the risks.

thedailychartist Updated  Nov 11, 2021

Past 5 days have presented bullish price action with a potential HL printed inside the wedge. Price currently pressing up against wedge resistance trend line. With overall market showing signs of going higher, a breakout here is likely imminent.

thedailychartist Nov 11, 2021

Been giving great signals! I did not trade these breakouts (I buy dips for my HODL bag) but a good thing to remember next time it goes into consolidation... Always watch the daily close and set your SLs at logical levels (e.g., below previous HL/range lows, etc.) w/ proper position sizing.

thedailychartist Nov 11, 2021

64,850 is the APRIL 2021 peak. 59,000 was the previous highest monthly close in MARCH before the OCTOBER close. As long as these two levels hold on a HTF basis (weekly & monthly) IMO we are likely very much still in a bull run and about to see HHs and HLs going forward. Bears want the current breakout to be a false breakout and recent PA is indicating they are...

thedailychartist Updated  Nov 2, 2021

That area just above 1.70 presents a confluence of resistance that makes it a significant and key breakout level. One can wait for a breakout and re-test setup to maximize RR to one's favor. I'm personally actively looking to enter a smaller position to maybe front run the breakout which is looking quite imminent. My 4HR levels:

thedailychartist Updated  Oct 27, 2021

A beautiful, clean break of a key horizontal level followed by consolidation. I think if we see a dip back to 4.00 or lower for a re-test, would trigger some bids and maybe launch this, and also assuming BTC is not about to dump on us. Watching this one closely.

thedailychartist Oct 22, 2021

Very simple breakout setup and this coin may be coiling for that move. LTF looking great for a potential buy too, to maybe front-run the breakout.

thedailychartist Updated  Oct 21, 2021

PA looking really crappy atm but here are the levels I'm watching. That 12.3c level's been suppressing the price for weeks now so likely a key breakout level. Looking to buy some spot at 10.2 if it goes for a retest. A bunch of levels above 12.3 to watch too.

thedailychartist Updated  Oct 21, 2021

Interesting fractal in that right shoulder, too. If you know nested patterns, you know this could mean we're building up steam for a really crazy breakout... Just a matter of time is what I say.

thedailychartist Oct 20, 2021

$TOTAL Market cap rising. A daily close above the cup would be a good start. Then we look to the weekly close for the ultimate confirmation. First target is 3.6T. Looks like the tide's about to lift all boats!

thedailychartist Updated  Oct 16, 2021

Clean levels. Potential for at least a mean reversion and bounce off of key support levels.

thedailychartist Updated  Oct 5, 2021

I do think we are near or at the HL. Betting on a bull leg to test recent highs soon!

thedailychartist Oct 4, 2021

Bears really trying to turn the price back from a key weekly level (dotted horizontal level at approx. 49k). Bulls need to protect 47k if they want to see this higher in the near term. Else, we may see 44k again and maybe another re-test of 40k. OTOH, if 49k breaks, the resistance level to watch is 53k. Break that and we likely see 60k again soon. I do think the...

thedailychartist Updated  Sep 11, 2021

Mostly a RR play banking on a potential false break. Tight stops for a quick out when things go against me. Minimum target is 55c which is 3.7R. Could go way higher but we'll see. Note this is a low probability high RR play. I like these moves and have studied them but like anything else in this business, they don't always work.

thedailychartist Updated  Jul 28, 2021

That 41k level has been quite special for the bears. Imagine if that breaks. If the recent strong rally is a bull trap, we shall know real soon. I don't think it is but the market has its own mind. I am expecting another crack at 41k after this pullback, we'll know how the market decides then. A proper bull leg should take us to the 47k levels which is the 50%...