Big Cheds Trading has influenced me recently and if you don't follow him on twitter and youtube then now is the time.
He said that the Bollinger Pinch ( happening now on DGD) usually results in a pop one way or the other. He also heavily used Bollinger Bands so I am toying with it. You can clearly see the last two prior pinches resulted in moves up. We have been compressing because of the downtrend line. All that energy has to go somewhere.
Might pop up here. Might pop down.
I am seeing the wedge forming and a break up to next Fib level and though to next one for a tap and then to use passed fib level as support. Or moon shot to all time highs.
Note:
IF WE BREAK THE TRENDLINE THAT HAS BEEN GOING UP SINCE THE ORIGINAL BOTTOM THEN RUN FOR THE HILLS AFTER A DAILY CLOSE UNDER!
He said that the Bollinger Pinch ( happening now on DGD) usually results in a pop one way or the other. He also heavily used Bollinger Bands so I am toying with it. You can clearly see the last two prior pinches resulted in moves up. We have been compressing because of the downtrend line. All that energy has to go somewhere.
Might pop up here. Might pop down.
I am seeing the wedge forming and a break up to next Fib level and though to next one for a tap and then to use passed fib level as support. Or moon shot to all time highs.
Note:
IF WE BREAK THE TRENDLINE THAT HAS BEEN GOING UP SINCE THE ORIGINAL BOTTOM THEN RUN FOR THE HILLS AFTER A DAILY CLOSE UNDER!
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the line for the top of the triangle was too tight. I re lined it with the actual resistance tops.
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Wrong direction. I am long, DGDBTC moves correlated to BTC over the weekends so if BTC rally then I will hold. Also I don't sell at bottom of RSI and Bollinger so I will hold until it pops and see where we are then.
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Also I would not sell so close to the long term support. The bounces off it are spectacular.
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Friday afternoon 4pm New York ( Eastern time) 1-1 DGD_BTC correlation switch over from inverse.
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DGD broke support. I am out of this until further notice.