Trader of classical charting principles since 1980. Author, #1 Amazon trading book Diary of a Professional Commodity Trader. Publisher of weekly Factor Service
Chinese stock market has begun its ascent into the sky. Next stop for China A50 is 30,000. #China
@sambrani @zafargs79Lot 's of things can happen in different time frames. China has been in a massive sideways correction to its economic miracle. I had expected India to do same -- and that thinking may have been wrong. The Indian correction from 12400 to 7370 may have been the full extent of fall.
Bitcoin takes aim at $100,000 target. $btcusd is experiencing its fourth parabolic phase dating back to 2010. No other market in my 45 years of trading has gone parabolic on a log chart in this manner. Bitcoin is a market like no other.
Either from Dec '18 low or from retest of same (circa analog dbl bottom in 2015) it would not surprise me if $BTC enters a new parabolic phase. $btcusd
Millennials embrace $BTC et al, in part, as reaction to $217 Tril of global debt and massive wealth inequality forced upon them by Gen X and B-Boomer parents and grandparents. Cryptos are statement: "There must be a better way"
The last time Factor's benchmark weekly MA was in the current profile of turning from down to up was in Nov 2015 just as $BTC began its move from $340 to $19,800.
Wow!!! $BTC challenging upper resistance line of parabolic advance. This is biggest bull market of my 43 years of as a trader.
People ask me why I trade Bitcoin $BTC Ask no more! In my 45-year trading career there has never been another market like Bitcoin.
How much blood will be on the street b/c of Crude Oil? Bankrupt trading firms NYMEX -- margin calls not met Futures Commission Merchants This is going to be ugly. Books will be written about today. $CL_F