I believe that it is possible to beat the market through a consistent and unemotional approach. This is primarily achieved through preparing instead of reacting. to learn more about how I use the indicators below and to get my complete trading strategy! Please be advised that I swing trade and will often hold onto a position for > 1 month. What you do with your $ is your business, what I do with my $ is my business.
My recent led to the following calls: < $5,750 by 11/15/2018 & my prediction for the bottom is $2,718 by 1/20/19 | My closely mirrored my price and time targets | before the end of 2018.
Expecting 1-4 month bounce due to the Sequential on the 31d chart, along with short term trends turning
Position: Short ETH:BTC 0.03109 | Short EOS:BTC from 0.0008057 | Short from 0.00009434 | Long from 0.00812
Patterns: Peter Brandt labeled this in i and I can’t say I disagree. 4h symmetrical triangle. The 1h c&h from yesterday’s post failed to confirm. Now it looks like it could be forming a down trend
Horizontal support and resistance: S: $4.046 & $3,875 | R: $4,181
BTCUSDSHORTS: at resistance + close below 4 MA
Funding Rates: Longs receive 0.0715%
Short term trend (4 day MA): Closed below and trending down
Medium term trend (9 day MA): Close above and trending up
Long term trend ( 33 day MA): Trending down at $5,239
Overall trend: Clear no trade zone for me due to short and medium trends disagreeing
Volume: Continues to decrease as we consolidate
FIB’s: (Using top of Nov 12th and bottom of Nov 25th) 0.786 = $4,056 | 0.618 = $4,558 | 0.5 = $4,909
analysis:
Cloud: Daily Tenken-Sen & Kijun-Sen are hovering right around the 33 MA | 4h continues to hold as support
TD’ Sequential: Daily r2 = r1
Visible Range: Testing high node from $4,000 – $4,600 and finding resistance
Price action: 24h = -3.94%
Bands: MA is coming down fast. Now it’s at $4,486
Trendline: Higher lows on the daily could be the start of new
Daily Trend: (Using 1h 33 MA to identify daily trend)
Parabolic SAR: $3,546
RSI: Failed to get oversold on the weekly
Stochastic: recross
Last Day Rule: Waiting to trade above $4,384 for trigger day
Summary: It is starting to look more and more like we will pullback for a retest of $3,750. The higher that we saw in the area last time along with the daily lead me to believe that we will before bouncing, something like what was outlined in
I like the risk reward of a long in that area. Profit target would be the 33 MA, which is expected to be around $5,000. Stop loss would be slightly under the at $3,524 for a 5.53:1 reward to risk ratio.
It is entirely possible that we continue to fall from here without getting a bounce, however I do not like the risk:reward on a short at these levels and I am going to pass on the sell signals in hopes to re open ~33% > the current prices.
Published at Mon, 03 Dec 2018 01:58:58 +0000
