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Cautious

SP500 UpdateToday put in a Squat Bar (Bill Williams Theory) as well as a Wiseman Div. Not what we want to see. Bulls don't want to relax here, it's not a good spot to take a rest. If you're in good profits, now may be a time to take a lil off. Or tighten up stops etc. The sector chart I referenced ( Communication, Discretionary, Energy etc) didn't show in the video, I guess TV doesn't allow other windows to be shown... but it's a StockCharts image showing which Sectors perform at which points in the Business Cycle... And all indications based on that chart show us in a Recession. Time will tell. As always, good luck, have fun, practice solid risk management.
OANDA:SPX500USD
by mrjones2020
Educational purposes only. Not intended as advice of any kind.After days watching this coin, it is now when I think it is approaching a support area. (Only Price Action will tell.) Please, if you don't know what you are doing, get a FREE Demo Account and start practicing with FOREX no money at risk there. Years ago, that is how I started myself. I have earned and lost in a day without knoledge about Cryptocurrencies, more than what I used to earn in a year as a Bus Driver. My losses, I understand now, occured due to my own lack of knowledge. Profits made by myself before paying for serious Professional mentoring, they were due to my own absolute Luck. CAUTION: Volatility within the Cryptocurrency Ecosystem means: Making yesterday 950% PLUS Profit with YFL or Losing any amount of money during the same time frame.
Education
by Claudio18
Happy New Year to All! New Direction for BTC, or more of same?The answer of course is, I don't know, and neither do you. It's all about probabilities in the end, and proper risk management. Personal psychology. That boring, hard stuff. Let's be real, TA is the easy part. The fun part. The glorious part. So here we are... A) Just over a year ago, we found ourselves here. New Lows formed. People calling for 1.2-1.8k. We hit the new year (2019) around 4k (up almost 30% from the low), and then we dump a large portion of it back. Notice we break that 2019 Open price with some serious conviction, a nearly perfect 45deg Bullish grind up, after successfully defending the Lows. Historically, 5 out of 9 January's have been Bearish for BTC B) We put in a textbook Blowoff Top into a Bearish Weekly Orderblock from January 2018, it's first touch since forming...And get SLAMMED. ZigZag down to our previous Resistance, now turned support (9k or so), make a 2nd Run at that 14k block that just smacked us into last week.....Put in a Lower High, followed by a Bearish Engulfing that manages to fight it's way above the 33% (barely, and temporarily). It's from this point, everyone should realize we're in a Bearish Market/Corrective Market, call it what you want....Probability favors Downside from here, from now (Aug 19th @10.2 or so). And honestly, once we put in that LH, we were at very least ranging for a bit from that point...but I digress. We continue to dump, manage a retest of the 33% from the downside, Fails miserably, forms an inside bar which resolves to the Downside. We lose the 50% in monstrous fashion and run it all the way down to the 66% level, which is essentially where we currently find ourselves! Now that our trip down memory lane, and all that was 2019 is over........ C) We have the 50% above us as Resistance currently (8.5k, which I've been calling for a test of). Below us, we have 66%, which has been hit entirely too many times recently to expect any time of real hold under pressure, and the 75%. The 75% is currently un-tested from the Top, and a nice target in my opinion. This level has nice confluence with the Trendline being formed by the pivots, which just held nearly perfect, bouncing at the level almost to the dollar. So we currently find ourselves in this range....5.8-8.5k is what I see as our current Playground for BTC. So here we find ourselves....For me.....as long as we hold above that 6.8k ish area, I see us testing 8.5k next. I closed out of my longs from that region when we lost 7.2k (as I said in a previous post), and am currently waiting to see how PA unfolds. I'll long retests/pullbacks to the 6.8 so long as we manage to hold it....and if we lose it, I'll pick up shorts in opposite fashion, and ride em to the 5.8k region. Below 5.8k things get dicey. Could go to high 4's, low 5's. Could totally melt and make new lows....again....NO ONE KNOWS...regardless of what they tell you. As always, good luck, happy trading. Practice solid risk management.
BNC:BLX
by mrjones2020
Bulls are still looking semi-alive, cautiously optimistic still.So far things are looking ok for the Bulls, and their backlash since 6.4k. A) Was our initial push out of that 6.4k touch. Breaking structure, giving our first indication the downtrend may be reversing. B) Gave us a near perfect 50% retracement.....A slow ball over the middle of the plate. Engulfing Bullish candle and all at the bottom to kick us back off to the upside! C) Is where we currently find ourselves. Bulls breaking above this box would be ideal for targeting that 8.5k range. D) Where my sites are set. Have been since that 6.4k reaction. Fibs work well. Structure fits. PA so far has matched. This remains my most likely scenario. Not my only scenario, and Absolutely subject to change as price does. Do not hold your bias as a trader. Anything more than a wick below 7.2 on the 4hr, and I'd likely take profits from any longs I'm in. As always, stay safe, practice solid risk management, and good luck!
COINBASE:BTCUSDLong
by mrjones2020
BTC Core continues to Chop....Still eyeing 8k....Macro/Mid Term is still Bearish, yadda yadda.....I've said it every post, we broke above 7250 as I anticipated, and Bulls were unable to hold it, as I also mentioned to look out for. A) Our recent drop created a couple "inefficiencies" in price. I'm targeting those for the short term. B) We cleared previous micro highs (pink box) and began correcting. We're forming a bit of a rounding/arcing bottom, usually a bullish sign.... C) But I wouldn't rule out a visit to this box. It's our Bullish consolidation preceding the rise above the Orange triangle. I'll be monitoring PA to see how it unfolds. Green/Yellow arrows, and we're targeting those pink boxes, but IF we DO drop to that C) Box.....and we fail to promptly get above 7.4.....I'd be VERY cautious in a Long. Macro Bear, Mid Bearish-Neutral, Short-term cautiously Bullish......Lose 6.8k and I think 8k is off the table before new lows are made. Good luck, and safe trading.
COINBASE:BTCUSDLong
by mrjones2020
This is my personal opinion, not a qualified financial adviceAs you know I have in mind to buy a large amount of Matic Tokens as a Long term "hope" or investment -sort of thing. My main hope is to get the money to do it before it goes out of my reach. I am not totally convinced myself about the possibility to get paid the most needed money on time to achieve my wishes. --- ---- ---Well, who knows! The way I see the price here, it makes me think and believe that I will never ever will be able to buy this Coin at whichever low price it might reach during this week. Of course... we know for certain that The Market is unpredictable and anything can happen. PLEASE BE AWARE that this is my personal opinion and it must not be taken as Financial Advice or guidance to base your actions. IT IS NECESSARY FOR YOU TO PERFORM YOUR OWN RESEARCH BEFORE YOU DO ANYTHING WITH YOUR MONEY.
MLong
by Claudio18
1
BTCUSD - a resistance noone is mentioningHello guys! I have some BIG warning signs for you: Bubble Theory: Do you really believe we are currently in the phase of a sucker's rally when everyone is shouting "BUY". I'd rather hear my friends ask me "Do you still believe in this sh** market???". Than I buy! Emotions: --Last week, friends and family came up to me and asked me how they can invest in Bitcoin, they read that it went to 5000$ and they believe it's going to 100000$. --> A - Sell the news --> B - When the crowd buys, sell! --> C - Think like the big boys, not like the people who work hard for the money day in and day out Chart: => Noone looks at that massive resistance which is coming down aslant from the previous bottom. This old support held for months, means it is HEAVY resistance. => The weekly RSI wasn't able to move above the 60 level which means, that we are still holding our bear trend(!). This could lead us into a bearish Monthly RSI which will trigger new lows. => TD Sequential hit a perfected 9 in every timeframe and in the 12h the perfection was confirmed with the pump to ~5460 yesterday. => 21 EMA resistance on the monthly => You can draw EW (Elliott Wave) in two ways, one where we already hit the bottom, and the other one, as in the picture (recovery 1 is very steep, recovery 3 is very flat) which would give us new lower lows. => We could be building a bearish continuation flag on BTCUSD => If the candle closes the way it is at the end of the week, we have ourselves a beautiful reversal doji. => I see the support/resistance trendline as a long lasting one which we are going to hit several times from down- and upside and it may be our point of entry one it hits from upside to take it as support again. Curious about your opinions, looking forward to your comments! P.s I'm in the market since July 2017. Left the market in December and January 2017. Love the market and I believe in the technology and a few projects, but lots of them, especially the exchanges are greedy, money washing machineries. I do always update my friends about the crypto currency market, so let's give Tradingview Posts a shot.
BITMEX:BTCUSD.PShort
by Thierry88
1