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Crypto Contest April 16: NKN

April 16, 2019 Published by

NKN (Bittrex: NKNBTC) has broken out of the triangle pattern in the daily chart.

(Chart courtesy of Tradingview.com (log scale))

Elliott Wave Analysis

In Elliott Wave terms, NKN began a wave one leading diagonal advance on February 9. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on March 24, and the red wave two (blue sub-waves a-b-c) correction ended on April 11. If this wave count is correct, NKN should be heading next towards the March 24 peak in the red wave three.

(Chart courtesy of Tradingview.com (log scale))

Funnymentals

NKN is a network connectivity protocol & ecosystem powered by blockchain for an open, decentralized, and shared

Forex $1 MM Challenge – Trade #11 (4-15-19) Sold AUD/CAD

April 16, 2019 Published by

A surge in oil prices this year has helped make the Canadian dollar one of this year’s best performing major currencies. However, the Canadian Dollar weakened Monday after the latest business outlook survey from the Bank of Canada (BoC) showed weaker inflationary pressures in the first-quarter and slower growth in the months ahead suggesting the BoC at a minimum will leave interest rates on hold for the rest of the year.

On the news, the Canadian dollar fell…right into supply on the AUD/CAD.  Lets go to the chart to see the trade set-up I took.

Monthly Chart (Curve Time Frame) – monthly

Can I Get A $LYFT ?

April 16, 2019 Published by

Talk about a complete shitshow of an IPO. LYFT went public a little over 2 weeks ago. After pricing at $72 by the crooked bankers, LYFT opens the market at a price above 85. Thank the big bankers for that. You can see what has transpired over the next ten trading days from this pump above the price.

A plummet. That’s right, straight down. LYFT is puking and is already down 24% from its IPO price and 35% from its opening price. That means if you got fed the bullshit by the big banks and bought the day LYFT went

The Crypto Market Cap Pullback After an Obvious Hitting Resistance Level

April 15, 2019 Published by

Sometimes you just need to look at the broader picture.  Yes, it would be nice to see recent crypto rally continue, but getting a pullback was pretty obvious once you look at the total crypto market cap chart.
Major Resistance Stops the Rally for Now
Looking at the chart in this post you can see market cap rallied up to that prior support level only to hit it’s head a few times before backing off.
The good news is the rejection wasn’t hard and fast so even if we were to sell off some more I like the price action still.
Market cap failing

The Oil Chart Suggests Goldman Sachs Might Be Right

April 15, 2019 Published by

“We don’t think you’re going to get back to those $80 levels again, so you’ve got some modest upside here,” Goldman Sachs’ head of commodities research, Jeff Currie, told CNBC this week. “While the macro risk-on environment and the threat of disruptions may drive spot prices even higher, we still expect that prices will decline gradually from this summer as shale and OPEC production increases,” they concluded. “With large spare capacity in OPEC and the Permian basin and a wave of long-cycle projects still expected to come online in 2020, we maintain our $60/bbl forecast for next year.” Goldman

$TWTR is on the Move, Holding $34

April 15, 2019 Published by

Twitter is on the move this morning holding the $34 and moving into the resistance level of $35-35.50 for it seems like the 1000th time. A small pullback was needed to relieve some pressure but I am looking for the Tweeter bird to break through this level this week.

A strong open is some mega progress and I believe if the market holds in today we may get a good upswing t continue the now bullish trend. The pattern is there, we just need this baby to resolve higher. The longer it stays at the top end of this range,

Will The Good Times Keep Rolling For JPMorgan Chase???

April 15, 2019 Published by

If the S&P 500 is the
bellweather for the equity markets, JPMorgan Chase (JPM) is the bellweather for
the bank sector. JPMorgan Chase reported earnings on Friday and blew the results
out of the box. JPM earned $2.65 a share for the quarter versus expectations of
$2.35 a share. And revenue of $29.9 billion came in $1.5 billion ahead of
expectations.

The results were
supported by record revenue and net income. Investors have been concerned that
net interest margins would deteriorate since the US Feds said they would leave
interest rates along, but net interest income grew by 8% year over year.

Consumer and business
banking revenue climbed 15%

Crypto Contest April 15: ChatCoin

April 15, 2019 Published by

ChatCoin (Huobi: CHATBTC) has broken out of the triangle pattern in the four-hour chart.

(Chart courtesy of Tradingview.com (log scale))

Elliott Wave Analysis

In Elliott Wave terms, ChatCoin began a wave one advance on December 7, 2018. The red wave one finished on December 14, and the red wave two correction ended on December 21. The red wave three (blue sub-waves i-ii-iii-iv-v) advance finished on April 6 this year, and the red wave four correction ended on April 11. If this wave count is correct, ChatCoin should be heading next towards the April 6 peak in the red wave five.

(Chart courtesy of Tradingview.com (log scale))

Funnymentals

ChatCoin

Forex Relative Strength Analysis Report For 4/14/19

April 15, 2019 Published by

Some of the world’s currencies are accepted for most international transactions. The most popular currencies are accepted for most international transactions are the U.S. dollar, the euro, and the yen. However, the U.S. dollar is the most popular. And in the foreign exchange market 90 of forex trading involves the U.S. dollar.  Thus, when assessing the relative strength of the most popular currencies in the world, it’s always against the U.S. dollar, using the daily time frame chart.

The “major” forex currency pairs are the major countries that are paired with the U.S. dollar (the nicknames of the majors are

The V Shape Rally is Real

April 14, 2019 Published by

I will be the first one to be honest about kissing the beginning parts of this rally back to all time highs (pending). I nailed the breakdown in Q4 2018. I nailed the low on Christmas Eve. I did not hit the Rip back to highs. Once the 200 day was taken back without a single down week, the Bears has fumbled and the bulls were in full control.

New highs are practically inevitable at this point. This V was a massive velocity move that was faster than the down move. I am expecting new highs this week in fact.

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