G'Day,
This is a snapshot of today's tide. You can see we are looking even more over-bought today then we were yesterday, We have hit 61 on the RSI which is a level we have not seen for a while, while we are getting high, e have plenty of room yet. The Williams %R is again sitting in the extremes, so a little pullback to reset this is possible. MACD has recently crossed over and has moved above the centreline.
We are currently in a bull-flag which has a 67% probability of continuation and Currently Longs outnumber the Shorts by around 5k.
So while we are technically still in a "bear market", I would say the tide is running bullish, from here we take a look at the lower time frames to see the waves and see if we have any trade opportunities.
This is a snapshot of today's tide. You can see we are looking even more over-bought today then we were yesterday, We have hit 61 on the RSI which is a level we have not seen for a while, while we are getting high, e have plenty of room yet. The Williams %R is again sitting in the extremes, so a little pullback to reset this is possible. MACD has recently crossed over and has moved above the centreline.
We are currently in a bull-flag which has a 67% probability of continuation and Currently Longs outnumber the Shorts by around 5k.
So while we are technically still in a "bear market", I would say the tide is running bullish, from here we take a look at the lower time frames to see the waves and see if we have any trade opportunities.
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20ema about to cross the 50ema on the 12 hrs chart.
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Need to wait and see, a good trade either side of the flag, is dropping now but support should ? hold at the bottom. Short opportunity under if you feel the risk is worth it or a long above the flag after breakout is another option.
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Flash crash stopped on the 20ema like a bullseye, will probably have another test. This type of run is great for liquidity and can be followed by a break in the other direction be aware.
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Like this
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It is like yesterdays chart all over again.
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I have taken a long near the bottom of the wick, taking the play that we will now move back to the top of the flag and attempt breakout or will eventually.
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I think that even if we retest the bottom of the rising trendline we should bounce, if we break that line, we will be in a bit of trouble.
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Local double bottom
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Big block of support here. Will it be enough is the question.
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Well the need for correction idea was on point just yesterday, just timing was off, I stepped away from the screen for a bit and have had stop loss taken out, and then it ran away. Reason number 243 why you must use a stop.
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ETH stoped out in a flash drop too, going to wait for things to settle before recommencing any trades. BE careful and be safe
