Links of Interest

"We will either find a way, or make one."
-- Hannibal Barca

04 July 2019

Last Chance To Buy Bitcoin?

"The market whispers opportunities... it doesn't yell.  
A trader must listen closely to profit."

-- The Trader


Last week in my monthly Facebook Live update for my free facebook group [Secrets of Simple Trading], I took a look at Bitcoin vs the USD.  I said then that having breached $10,000 to the upside by a significant amount, a pullback should be bought.  

While I thought the crypto could (and would) pullback deeper before reversing back to the upside, I also noted that price could find support around $10,000 and reassert back to the upside.  It's the latter that seems to have come to fruition.

While the weekly has not yet closed [I'm writing this on Thursday 4 July)...

the daily chart offered up and confirmed a long signal already.

There's no way to know for sure if this is legitimately the last chance to buy 'em... But there's not (or shouldn't be) a lot of argument that it's a great place to take low risk shot.

If you're a swing trader, it makes sense to wait for a pullback to inside the Tuesday 2 July high at 10,965 before putting on a trade.  If you're a portfolio trader, you might do the same before initiating a new position or adding to an existing position.

Whatever your approach, $10,000 has once again shown itself to be an important level for Bitcoin.  Trade accordingly.

30 June 2019

On This Day In History - Version 30 June 1905

30 June 1905

Albert Einstein submits a paper outlining The Theory of Special Relativity

It was about the relationship between space and time.  The theory of special relativity was the basis for his theory of general relativity which he published in 1916.

In truth, Mr. Einstein's theory was about the relationship between support and resistance and how the 2 try to contain price on a stock chart.

That's a lie... Mr. Einstein didn't mention support and resistance on stock charts to my knowledge.  But he could have... support and resistance are THAT important.

29 June 2019

TAOST Update 28 June 2019


That’s the word that best describes the trading last week. From my perspective anyway... Though temperatures suggested otherwise, summer officially started last Friday and the market started to reflect the same with a steady decline from the volumes we saw over the spring.  While volatility for the week overall was a bit muted (the ES range was 47.25), the intraday trading was both narrow-ranged… and frenetic… though not at the same time.  That said, the stock indices managed to end within shouting distance of the all time highs achieved last week. In fact, the S&P 500 experienced its best June since 1955 up 7.19%... and the best first half since 1997 at +17.4%.