THE NAIVE TRADER

Been away for a while, but exams and stuff done so thought I would update on my current crypto ideas and what I am holding and why. First we have Zilliqa, which I trade against Bitcoin, this has been something I have entered due to its bottoming out and creating new all time lows which offer price levels never explored before. We see on the 4 hourly chart the coin has been rejected at 287 resistance and rebounded towards the current support levels of around 245, which we're currently sitting at. I see the huge volume spike and serious lack of response in terms of price highlights potential movement soon.  Looking at the triangle idea, something I've never been over convinced by, we see a serious point here. Potentially a breakout of the triangle upwards could result in a heavy pump and break through the 287 level towards the 366 region. Serious gains potentially. LINK This is the next coin I have picked up, holding and seeing substantial gains, currently looki...

All my own opinions and probability will be wrong, but thought I would have a little look at the Eth/USD market. I see potential gains here, volume gaining positive momentum after the sell off and now with resistance found I feel this area could now be a little slower as more buy positions will have to be met to gain further. Also the rebounding RSI only further illustrates this idea and I think there is a buy zone, maybe even before the next resistance level. Peace. TradingView, 2019

So back again, looking at the ethereum market against the dollar. I believe there is a short position which is looking juicy. This looks realistic because of numerous reasons. Number 1 - the gains have been substantial, breaking through the 147 range easily and gaining momentum and we see the first signs of a slight cool off within this bullish progress. Number 2 - RSI indicating a a return from the overbought position, bouncing and returning from the 96 area to a downward potential movement. Number 3 - The volume is declining and looking negative, highlighting people may be taking profit here and selling off as the market looks for a resistance zone which hasn't been found for some time. Number 4 - The market is hitting the top of the Bollinger Bands on the 4 hourly position illustrates the potential for a cool off as highlighted in the other indicators and market sentiment. I am looking for an entry in this range, opening at 160-163 and shorting to hopefully either...

Looking at the market on a 4 hourly time frame there is potential for the current resistance to be broken. The green of the Ichimoku cloud illustrates the bullishness of the market on this time frame. Furthermore, when using the stoch RSI its clear the market is returning from the oversold position. These indicators offer support for a potential for a long entry if the 110.637 position is broken soon, which could be likely as the market hovers around the resistance more sell positions are bought up and thus can allow with sufficient volume for a potential clean break to a position we haven't seen broken this year, around and above the 111.109 price. TradingView, 2019.

On the 21st I was looking at holding a short position and believed the dip would continue, what is interesting is that after a slight gain we have seen the drawback and the 109.835 resistance position is looking more powerful than I first believed. We see the currency pair is fluctuating and holding quite happily in the mid-range of the 108.670 - 109.835 resistant area's. This is interesting as the RSI and the BB don't hint at much dipping or diving at the moment. Volume has fallen a little recently and although buying is continue I don't know if there is sufficient volume to help the pair gain momentum to break the higher resistance till at least next week.  Peace. TradingView, 2019.

Bitcoin is something I have stated before having an interest in and that of course continues, but trying to understand trading it is tough. The market is so volatile and thus there is huge opportunity but of course huge risk. I feel I stand more of an investor for this market, my trading skills no where near up to scratch to play this game! But anyway, I thought I would have a look at what is going on, not saying I will enter but just looking at where short term the BTC/USD market is moving towards. I am loving the horizontals atm, as they are just so useful when comprehending where potential resistance regions are within the market. The sentiment online is continuing to be quite bearish with a number of people highlighting the lack of breakouts to either fall below the 3k or above the 5k in the recent weeks. This I believe shows that the market is quite flat and thus maybe big cheeses are beginning to accumulate as the market continues to hold within in the 3550-3650 region. I...

So, thought I would have a little gander at the Pound. Comparing this to the USD for entry on a weekly basis does looking precarious but interesting, my knowledge of the Ichimoku cloud is weak but I believe that trading within it is fearless due to the volatility. Thus creating a slightly fast passed potential movement. I reckon the resistance we are looking at for the upper is 1.30 for the next week or so. Yet I don't know if this is the direction we will be seeing, the RSI is highlighting the market is returning from an overbought position, and looking to continue downwards. This potential sell off is further illustrated by the increasing sell volume within the market. Therefore I reckon next potential bounce point/resistance area is the 1.26789 point because of previous resistance areas that can be seen over the last few months. I wouldn't bother entering here personally because of the potential flip and lack of real opportunity but high risk. I will be looking to wait ...