Trader6127

Trader6127 Updated 

Tesla is now officially in bubble territory as it breaks above the major rising wedge pattern that has formed over the last decade (should be confirmed by the end of this week). Essentially, the stock price is going parabolic, similarly to Apple's stock price. Keep in mind that this means two things: 1) the stock price will see parabolic price movements in the...

Trader6127

There is no doubt that gauging the direction of Netflix's stock has been one of the most challenging tasks for analysts over the last 2 years. The big picture shows the formation of a rising wedge, which is similar to other tech stocks. But price has violated the trendlines so many times that we've had to cast doubt on the validity of the upward trend. Netflix is...

Trader6127

Those of you who traded through bitcoin's parabolic advance (like me) are about to experience flashbacks. This is because the price action in Apple's stock chart looks very similar to the price action we saw in bitcoin throughout 2017. Here, take a look at Apple's stock and bitcoin in comparative perspective: Obviously the timing is quite different. Apple has...

Trader6127

The USD price appreciation building up in the USDCAD pair has not yet unfolded, but when it does it will be a nice long USD trade (or short the CAD trade). Previously we identified a bullish flag on the weekly and monthly chart, but it looks like the flag is shaped a bit differently now that 2019 is behind us. Here are the new technical levels to watch. At the...

Trader6127

Impending boom, buy gold! How many times have you heard that this week or over the last couple of months? If we look at the technical price chart and remove as many fundamental biases as possible, we begin to see that gold is currently trading in a trap zone (a level between the 0.382 and 0.618 fibo). As of today, the weekly candle is bouncing off of the 0.618...

Trader6127

Canadian bank stocks haven't really moved in 2 years. This consolidation has confused both bulls and bears, but it will come to an end by the end of this year (2020). Breaking above the all-time high will be a big buy signal, as it will indicate that the cyclical bull market is still intact. However, breaking below the major upward trendline will confirm a change...

Trader6127

Last year was a tricky year for crypto traders. Many thought that bitcoin and altcoins would find solid ground and make a break for new highs. That didn't happen. Even the bears thought prices would head lower and sooner. Those who repositioned at higher levels made out alright, but those who held out were taken out the back and shot. Now spot short interest is at...

Trader6127

Bitcoin's dominance continues to climb within the large rising wedge formation that began back at the start of 2018. As we can see, there is a strong overall trend between rising dominance and falling crypto prices. In the coming weeks, dominance will have to make a choice: 1) climb higher or 2) breakdown the trend. IF the trend breaks we'll likely see a...

Trader6127

Data shows how bitcoin and cryptocurrency tend to enter bull market when bitcoin's market dominance against altcoins falls. Currently it's still rising. PS. make sure to follow me on Twitter, where I'm much more active. Link is on my profile.

Trader6127

European bank index has broken a 7 year trendline that ECB has long defended. Result? Failure. Breaking 76.7 on the EuroStoxx will give full bears control. Our trade idea from last year:

Trader6127 Updated 

We've been in the no trade zone (between 38.2 and 61.8) for a month now, ever since price got rejected by the 8/1 Gann. To be honest, I didn't think we would make it above the 4/1 Gann, so I've been staying away from this market. Now, price action is revealing some weakness at these levels. The 61.8, as you know, is where longer-term holders and professional...

Trader6127

$TSLA has been rebounding for just over a month now, but is facing a pretty heady resistance line. Price action is lagging behind our model a bit, but if price can make it through the resistance we could see a huge rally as everyone who were doubters pile back in.

Trader6127

Bitcoin is currently trading within the no trade zone and has formed a bit of a volatile spinning top. Is the bullish momentum fading?

Trader6127

The hryvnia (UAH) continues to trade sideways while in consolidation in the "no trade zone." Recently, the currency strengthened against the dollar (USD) and initially it looked like an opportunity to go long on the USD. However, the weekly EMA50 (which historically has provided support for the USD) turned into resistance, broke the 3 year trendline, and now we...

Trader6127

The USD is currently sitting at a very strong support level against the CAD. EMA50 is also above EMA200 on the daily and weekly. Keep in mind that, technically, the pair is in a "no trade zone." The Canadian economy is also experiencing a number of acute deteriorations vs. the US economy that could put pressure on bank balance sheets in Canada. Increasing...

Trader6127

We can see the US dollar has been gaining against the Canadian dollar for about a decade now. At the end of 2018 we had a break out from the bullish flag formation, but things are taking a bit more time to materialize as the breakout formed within the "no trade zone."

Trader6127

Considering that Bitcoin's dominance is increasing, will ethereum repeat a well-known crypto pattern; the measured move? Bitcoin dominance forecast:

Trader6127 Updated 

Wow! Huge gains in this market. Now we have entered the range between the 0.382 and 0.618 measured from $20k to the bottom near $3k. This is a "no-trade zone" where price is too neutral to make any significant bets. Above the zone I am bullish, but while we are in the zone and below the zone I am bearish.