G' Day Cobbers,
I have been terribly busy working, trading and generally living. I hope you cobbers took some of what you have learned over the last few weeks and made some money. Sadly, for myself I kept missing Entry while away from the omputer and missed that glorious 995 dollar run up, I had my long on but had to leave and be away from trading for the day and closed out my trade, literally 5 minutes later it went stellar. You win some and you lose some. The last few days have been crazy, with little correction and smart money will be taking profits soon, if not already. Fomo may keep pushing us up over 9200-9400 but this ascending wedge will break down eventually and we will have a large correction, possibly to under 8800 but fear not we are also in a massive triangle and the horizon is definitely bullish for me. I know we are still in a bear market but we should bounce off the bottom of the triangle and push towards the top of it in the coming days, with luck a breakout will occur and we will see a continuation of the bull trend . I am short till 8800, hopefully you guys have a good plan in place.
Please let me know in the comments how you have been going, any good trades, bad trades? What do you think you got right or wrong? Did you learn anything from these trades, please share.
You will note that I have a couple of new indicators on my chart, these are mainly because of all the sideways action lately and I find them useful in scalping these movements. Have a google or take a look on investopedia and see if they can help your game, these are not trend following indicators like rsi but are great in trading small swings while we meander sideways or in chop.
This chart shows from an older chart I took when we first started to rise, the possible scenario we are looking at, please note the Elliot wave is just a rough attempt and not a prediction on exact movements. You can see the breakdown is inline with first corrective wave before our second impulse wave, which would coincide with the breakout of the symmetrical triangle.
Also I see a beautiful big W forming but will probably not break the neckline, watch though and be prepared.
Good Luck mate
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.
I have been terribly busy working, trading and generally living. I hope you cobbers took some of what you have learned over the last few weeks and made some money. Sadly, for myself I kept missing Entry while away from the omputer and missed that glorious 995 dollar run up, I had my long on but had to leave and be away from trading for the day and closed out my trade, literally 5 minutes later it went stellar. You win some and you lose some. The last few days have been crazy, with little correction and smart money will be taking profits soon, if not already. Fomo may keep pushing us up over 9200-9400 but this ascending wedge will break down eventually and we will have a large correction, possibly to under 8800 but fear not we are also in a massive triangle and the horizon is definitely bullish for me. I know we are still in a bear market but we should bounce off the bottom of the triangle and push towards the top of it in the coming days, with luck a breakout will occur and we will see a continuation of the bull trend . I am short till 8800, hopefully you guys have a good plan in place.
Please let me know in the comments how you have been going, any good trades, bad trades? What do you think you got right or wrong? Did you learn anything from these trades, please share.
You will note that I have a couple of new indicators on my chart, these are mainly because of all the sideways action lately and I find them useful in scalping these movements. Have a google or take a look on investopedia and see if they can help your game, these are not trend following indicators like rsi but are great in trading small swings while we meander sideways or in chop.
This chart shows from an older chart I took when we first started to rise, the possible scenario we are looking at, please note the Elliot wave is just a rough attempt and not a prediction on exact movements. You can see the breakdown is inline with first corrective wave before our second impulse wave, which would coincide with the breakout of the symmetrical triangle.
Good Luck mate
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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on track
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This is the correction that was needed and we are still on track to breakout of triangle, remember this is a mid to longer term play. Shorting this correction could of been profitable. I slept through it. Long still open.
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I don't see how anyone can be bearish long term.
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G'day cobbers, Trading is still active and going well, we are at a point with many crossing trend lines and pushing past these will be a real positive sign for the bulls. Take profits at this point, chance to add if we break past these lines for the nest run. Bull flag is looking to form, I would say we have a few hours before breakout at least but be aware, set alerts if need be. You will notice a handy-capable inverted H&S forming on the 4hr.
