Adding to my BTC position. See my linked ideas for overview analysis and recent analysis.
Building up more into my USDCAD position I've been taking over the last few weeks. See linked for analysis
We're now into the possible false breakout of the 161 of the last drop in this. Always my very favourite place to fade a market trend. I know soon if I am wrong, and it's a mega trade if I am right. Shorting Japan now to go along with my US indices shorts. I'm much more bullish on Japan than the US - if we see drops in the world indices, I'm a buyer of the Japan...
This is my approximation of the spot where it'd make most sense to scale up into SPX shorts. If we see price bounce on the 127 fib - parabolic move first and then a grinding little follow through - wait a day or so and short double patterns on recent price action (4 hour chart). The next break might be a big one.
Along with other US indices Nasdaq is showing signs of weakening. Also take swing short in NQ.
Entering back into USDCAD after trailing stop hit and deeper retracement has occurred.
Rut's ranged in the same area for over 6 months now and might be starting to break. We currently have a butterfly pattern and what can turn into a head and shoulders with a flat neckline. Brutal breaks come from those when they come to pass.
The uptrending properties of the DJI are starting to fade away and the channel is breaking. A few more moves lower and this would become a legit looking break. Market went up 100% over the last year - it can come down over 25% in a month - that's not unrealistic. Sustaining parabolic moves like this is far more unrealistic.
Like SPX (Linked) RUT shows downtrending properties and is deep into where a retrace would be expected to end. Entering short.
Shorting SPX. Down trending through the day, continues to hold 1 chart downtrend. Into a small correction, selling into correction.
USDCAD has completed a bullish move up and ranged sideways for a while. I've shown a small wave count here, but I think this may also be the flat before a bigger wave 3 breakout. If that breakout comes, USD is the easy money in the markets for a while.
BTC starting to reject from the resistance level. Double top can turn into a failed bullish butterfly, a butterfly break can turn into a downtrend.
It looks like the BTC bulls have finally punched themselves out. If we're going to set up a down move from here I'd expect to see a drop off from the current high, a range somewhere a bit below it and then a stronger sell in the next move. Once we've made some corrective patterns in around the 42 - 43K area, the next move into 31K sets up. Forecast good while...
I think this section of the move has now finally completed. A blaze of glory from the bull into what I think will become a false breakout. For anyone who's only been following my ;posts recently, please see the attached for my overall swing analysis. BTC is now at major inflection point. If it goes much higher I'll post exit/contingency plans and now I am largest...
I think we're probably in the false breakout section of a flat correction. If so, next comes a bit of a range and then the downtrend to retest the lows, after that the break and second big short trade. Really sizing up in BTC now.
We've now gotten all the way back to the area I first limited into the short after the 44K take profit. This is the big resistance level and where I am most happy shorting off of. As well as the price action screaming bull trap, we have all the cocky bulls showing up in the comments section - saying all the things bulls say in a bull trap.
Choppy and ugly range of late but these after a hard drop like that are often a prelude to a serious break. Been a bit early for day trading shorts, will get back to those if we see momentum coming in - short term trend strategies keep failing in the range. Continuing to add to my swing short. I don't think this is far away now.
Mega high RR after the spike. Completed a butterfly pattern in the parabolic move. Adding to my short. Will do a full analysis update if it goes higher but I think this is a great sell level.