Price channels on Ethereum

Support and resistance levels are critical, yet finding them is an art and not a science, channels are one of our favorite tools to do this, and once found they can show blue skies for higher prices.


Previous post: Best Wyckoff Accumulation for 2020

Since computers came on the scene there has been an explosion of algorithms and all sorts of fancy widgets and gadgets to read price and volume action.

Readtheticker.com is old school and we base our primary chart reading on the theories of Wyckoff, Evans, Gann, Ney and Hurst. In all these theories support and resistance determination is critical, and parallel price channels drawn off A-B-C points which find true price support and resistance levels completes the task.

Below are two charts, standard price chart and a log price chart with parallel price channels, to show the important contrast.

Note: RTT Plus members can view the private members chart book of price channels on all major indexes, currency and crypto's.

Chart 1- Standard.

Chart 2- Log with channels.

You can see how price moves between channel lines. If you had known the A-B-C channel drawing points early forecasting price via support and resistance would be a breeze. Please note the A-B-C drawing points need not be extreme price points, they are the price points which generate the best channel fit to price.

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Gold Gann Angle Update - Classic continuation setup

Gold has a classic continuation pattern set up, but of course every one can see it, so the trickery around the break out to higher prices will wear out some weak hands.


The continuation pattern (bull flag) is also at major all time high resistance, in Wyckoff language you can call this a 'spring board' as it is the final work done by the composite man before higher prices are achieved. Expect prices to move higher very quickly, so the retail trader wont be able to build any position of size. This blog target is $2500 on gold futures price.

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Date Found: Saturday, 11 July 2020, 05:26:16 PM

Comment: This is lack of liquidity means support is likely to break if it is tested hard!

Date Found: Saturday, 11 July 2020, 09:51:58 PM

Comment: Nasdaq losing momentum.

Date Found: Sunday, 12 July 2020, 01:52:04 AM

Comment: SentimenTrader: High is near!

Date Found: Sunday, 12 July 2020, 06:19:50 AM

Comment: Global-Real-M1-vs.-MSCI-World-Total-Return. So we have 10 month for markets to crash!

Date Found: Sunday, 12 July 2020, 10:26:20 PM

Comment: Buyback crashing in 2020, who gonna buy if the FED does not do all the heavy lifting!

Date Found: Friday, 24 July 2020, 11:19:33 PM

Comment: Another swing down...

Date Found: Saturday, 01 August 2020, 08:14:56 PM

Comment: Inflation.. (after a delfationary bust) for 2020s

Date Found: Saturday, 01 August 2020, 08:24:28 PM

Comment: Crypto rally into early 2021 ..

Date Found: Sunday, 02 August 2020, 08:23:10 AM

Comment: Get ready. 71% of the government debt issued this past year matures in less than 12 months. Treasury Bills’ outstanding shot up to $5 trillion! No way around this… The Fed’s balance is set to explode.

Date Found: Monday, 17 August 2020, 05:36:30 AM

Comment: Motley Fool Live: Danielle DiMartino Booth Interview 8.13.20

Date Found: Wednesday, 19 August 2020, 12:36:04 AM

Comment: Global Macro Podcast #001 | feat. Julian Brigden

Date Found: Thursday, 20 August 2020, 06:48:43 PM

Comment: WOW this will matter soon!

Date Found: Sunday, 23 August 2020, 09:17:35 PM

Comment: TIP311: Macro Mastermind w/ Lyn Alden, Luke Gromen, & Jeff Booth youtu.be/8bh-rBgyRwA

Date Found: Saturday, 29 August 2020, 12:16:54 AM

Comment: COVID is equal to WW2 ...

Date Found: Saturday, 29 August 2020, 04:25:18 AM

Comment: Get readyt ... go !

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Why did selling SP500 volatility trades blow up?

Many have made their fortunes selling volatility premium and then losing it, that is because they are running down the lit fuse and not understanding that eventually the strategy blows up.


In the chart below periods marked with A, B, C, D are periods of chasing yield which was so great the selling of option premium became vogue. Yes, this strategy worked for a while and 'this time was different' worked, until it didn't.

Selling volatility work great during period gray A until the cycle ended at red A.
Selling volatility work great during period gray B until the cycle ended at red B.
Selling volatility work great during period gray C until the cycle ended at blue C.
Selling volatility work great during period gray D until the cycle ended at blue D.

The point is if you play the selling volatility game, know thy cycle. Cycles matter!. The dominate cycles below gave you plenty of time to go to side lines when risk became apparent. 

NOW >>What is interesting is gray E, VIX is above 20, and the red cycle is rising with the blue cycle is pending a swing up which suggest we are in a pending crisis moment (deflation shock). 

IDEA: Have cycles studies in you investing plans, mix them with sentiment and market fundamentals.

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Best Wyckoff Accumulation for 2020

Yes folks there has to be a winner. Price and volume in the right place. Very nice eye candy!



Introduction ...

Ethereum was posted on RTT Wyckoff Campaign blog for monitory and trade entry. To watch the RTT Wyckoff Campaign blog is part of the RTT Plus service. After all you only need one to two great accumulations in a year and returns will be fantastic.

Charts in the video ...

PnF ...

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Bitcoin Road Runner

2021 kicks off so does Bitcoin with great haste, finally all that FED COVID easy money created months ago is finding its way into risk on asset prices. The big bitcoin channel show us the road ahead.



The 2017 rally had two 12 week pauses (see below), we may not get that this time, maybe only one pause at $42,000 to $50,000 and then a charge to $100,000.


Finding and using the correct support and resistance channels on prices is critical (using Wyckoff thinking), in RTT Plus we have a library of channels on securities for members to review.


Log BTC Chart

As you can see from the bigger channels price targets are huge, but $50,000 will be a major challenge.


Log BTC Chart

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Date Found: Friday, 03 July 2020, 07:35:48 PM

Comment: What sent gold soaring in the 1970s was negative real rates. Chart plotted with rolling averages to smooth out the wild swings but the data paints a clear picture.

Date Found: Friday, 03 July 2020, 10:29:10 PM

Comment: DAVID HUNTER, CONTRARIAN: S&P 500 GOING TO 1,000, GOLD $2,300 - SILVER $35! youtu.be/BjXxrE0UGlg

Date Found: Saturday, 04 July 2020, 01:39:22 AM

Comment: WTF is Going on in the Markets? With Raoul Pal, Caitlin Long & Travis Kling youtu.be/G5AJhk6GwH8

Date Found: Saturday, 04 July 2020, 10:40:00 PM

Comment: COVID19 not good for EPS, as the E is crashing.. fix..offset crashing earnings with even faster crashing Number of Shares Outstanding.. then EPS gains .. that works ..PE and EPS are a joke!

Date Found: Sunday, 05 July 2020, 12:03:43 AM

Comment: Not another risk on asset pump!

Date Found: Sunday, 05 July 2020, 09:40:31 PM

Comment: Strong USD .. not good for gold or risk on assets

Date Found: Monday, 06 July 2020, 03:31:00 AM

Comment: Mike Novogratz and Raoul Pal on 'the Single Greatest Brand' Bitcoin youtu.be/exE0QjHtNT4

Date Found: Tuesday, 07 July 2020, 05:26:06 PM

Comment: Gary Shilling - Recovery problem.. maybe is a 'L'

Date Found: Tuesday, 07 July 2020, 06:59:42 PM

Comment: FUNDAMENTALS ... do they matter? Watch this space!

Date Found: Tuesday, 07 July 2020, 09:08:56 PM

Comment: Easy bet this year - THIS WILL END!

Date Found: Thursday, 09 July 2020, 05:25:44 PM

Comment: Interesting...

Date Found: Thursday, 09 July 2020, 07:06:42 PM

Comment: Lyn Alden: US Fiscal Policy Reactions are Creating Best Case Scenario for gold youtu.be/_2lee_xXCMw

Date Found: Thursday, 09 July 2020, 10:59:45 PM

Comment: Only at the peak of the Dotcom Mania and the bottom of the Great Financial Crisis have we seen the Nasdaq 100 outperform the Bank Index by such an extreme degree as it has over the past six months

Date Found: Friday, 10 July 2020, 03:55:01 AM

Comment: Jason Burack (Fed Audit, Bank Derivatives TIMEBOMB, China Secrets Reveal... youtu.be/nUBGWW3h4fw

Date Found: Friday, 10 July 2020, 05:51:38 PM

Comment: @Halsrethink World trade contraction continues along with global economic activity downturn &, yes, return to pre-virus level multi-year process. But this time recovery likely slower than from GFC slump--maybe even no return to 2019 level as global supply chain shortening prevails

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US Dollar Weakness Precedes Equity Weakness

Wait what! Well, why would foreign capital run into a falling currency!


We have always heard that a falling US dollar helps growth.

But if Foreigners want to buy US assets they also do not want to lose on the currency. 

If a US equity market is high and the US dollar depreciates then so does the foreign investment in US assets.

Money likes appreciation in equity and currency value, if one falters, it will leave. 

If the US Dollar falls into the 80s (on the DXY) the SELL button for stocks will be near.


Watching ....

NOTE: The 2004-2006 time period (??) was the US Housing boom which plugged a few holes while foreign capital did not run to the USA.

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Gold Chart Review

Gold swing trade is due, lets review some charts to see if it is a viable move.


The seasonal period of gold is now upon us, gold should advance for the next 3 months.


Gold Gann Angle Chart ...

Gold Channel Chart .. close up!

Gold Channel Chart

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