This is my latest update, If this comes to fruition, you will be glad you came across this TA today. Shorts at a massive ATH so much liquidity, I think my charts speaks volumes in itself, so take a look, do some of your own TA and make a call. Im laddered in down to 6400 but be careful, anything under that is extremely knife edge as it will push us under the triangle structure but be aware the big boys may squeeze out all the high leverage longs and trap even more shorts by creating a bear trap outside this structure. This is why this is a zero sum game, this is where you put on your big boys pants and stand by your call, dont risk more than you are willing to lose and for the love of koala shit, don't come fomoing in and blame me if a) you scare easily and pull out at a loss or b) this goes completely goana balls bad and we drop even further. We are playing a game of probablilties with people with lots of experience and lots of capital to back them, we may get lots of push back by shorts well and truly underwater.
Good Luck my friends, lets hope it works out well. G'day
Thanks for dropping by, hopefully you garner something valuable from my post, be it educational or an idea towards a trade of your own. Please share, like and comment and engage with me, I am here to help.
Trader, Chart analyst and all round larrikin. Reside in NQ Australia, surrounded by Crocodiles, snakes & giant spiders, not to mention the boxing Kangaroos and devilish Drop bears. It makes my job quite hazardous but strewth mate, I love it.
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This should break down soon and head towards 6700ish.
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BOOM! What a Candle. Did you guys make a profit, up 906 ROI so far, take some profit and wait for the RSI to resest and see if the bullflag breaks out and we continue on to the top of the structure. I hope you caught this call and made some buckeroos.
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Shorts decimated over night
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Some bearish divergence on 1hr, taking some more profit and laddering down a few buys
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going to test the bottom of the flag/pennant, watch your stop loss level here. If you get taken out, don't stress plenty of time to re-enter if we go back up, better to be out then underwater and losing our profit.
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20ema about to cross the 100ema on a 4hr time scale. Bullish still.
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Flag puts us on Target perfectly.
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Going to bed, setting stop loss and place a profit sell @ 8300. Set an alarm if it pushes much past that and if have some buys stacked in below for retrace. Good Night Cobbers.
Hello @TroyByrne. Great call. Only poster on tv to make the call and put money on it as far as I can see. I got into ETHUSD before the spike up, based on a fractal I saw in the daily indicators. Was encouraged when I found your BTCUSD post. Now following.
TroyByrne
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@TroglodyteHomunculus, I do try and make my post tradable and not just directional. Niev to have you along for the ride. Thanks
mandelas
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sorry my mistake.no comment erased
mandelas
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u erase comments! that is not democracy. Your role is suspicious
samiswilf
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I'm calling bearish as Warren Buffet predicts.
TroyByrne
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@samiswilf, Good Luck, should be a good short opportunity down to 6700 ish
@TroyByrne, I had a stop loss. Barely got hurt. How did you know that it would go to 6700 and then shoot up? How did you know 6700?
TroyByrne
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@samiswilf, Well, I knew that much lower would spell disaster as it would breach the descending triangle on the 1D chart, also there is a couple of support lines that converge right around 6700 level. I knew if my TA was to be correct that it would push the fear and greed to the limit, wiping out high leverage longs and goading more leveraged shorts to fomo in, both creating liquidity for a massive bull run, which first would break the local trendline, then the wedge and eventually perhaps the big trendline sloping down from ATH. Obviously calling market moves that far out is iffy but we will see. Glad you didn't end up Rekt.
TroyByrne
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@TroyByrne, not completely accurate, I just did this up quickly.