In yesterday’s column I pointed out that on a longer-term setup on the daily chart, we had a buy signal. But I neglected to point out that on a shorter-term setup on the daily chart, it was not yet given. On the shorter-term setup, we are just below a 2nd arc of a 3rd pair. Trade accordingly…
Ethereum has not had a material change since yesterday’s column. It continues to meander through a 3rd arc pair. I have highlighted a few of the places that pricetime has respected the setup. An energy time is approaching, due tomorrow. Wait for it – we might get a buy signal soon.
Litecoin continues to be a favorite trade of mine this week. In the screen capture below I have a very short term setup, and a long-term setup. You will note that the first highlighted section shows where price was repelled by the 1st arc of a long-term setup, at almost the top of the short term setup. The red arrow indicates where the swing low was exactly on the end of the short-term setup. This marked the beginning of the next swing up.
Price has been fluctuating around the 1st arc of the long term setup. As of this writing, price is still above the arc. Target seems to be ~ $15.20.
I continue to expect a rally out of this asset in the near future. It has cleared resistance. There is an energy point due tomorrow. I wonder if that will be an acceleration? Time will tell. Wait for confirmation before buying this asset…
Ripple has been basing for some time. As pointed out in yesterday’s column, the coin bounced off a 3×1 Gann Fan the other day, which seems to have provided the juice for the next rally. An energy time is due “now”. Watch this closely. If this gets going, it could be exciting. Resistance is seen at .05 and .075.
After having bounced off a 4×1 Gann Fan for several days, ETCUSD rallied sharply to the 3×1 Gann Fan. This is still a buy, IMHO, as the 5th arc on this setup is still a fair distance away. An energy point due a few days from now suggest a possible target of $4.60 if the rally resumes.
Monero has been trading sideways for a month or so. But that might change soon. An energy point is due in 2 days time, and the coin is challenging a 1st arc of a long-term setup. When/if we get a buy signal on this chart, top-of-the -square resistance is in the $26 range.
Like several other coins, Dash has an energy point on it’s chart in 2 days (4/24). My guess is that an acceleration point will likely ensue. This screenshot shows a few of the places pricetime has respected the setup. If an acceleration begins in a day or two, the next arc resistance is in the $100 area.
Remember: The author is a trader who is subject to all manner of error in judgment. Do your own research, and be prepared to take full responsibility for your own trades.