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TrendFollower

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Everything posted by TrendFollower

  1. This is a fascinating piece in the Financial Times that may interest some of you looking at these investment themes. Internet of things sparks race to replace the battery https://www.ft.com/content/3ba7fc12-8205-11e9-a7f0-77d3101896ec
  2. If you look at the chart a couple of weeks ago and now look at today's 'daily' chart then you can see that some positive price action and trend forming.
  3. Well Bitcoin Cash was unable to defend the important $400 level. This could mean some short term pain for Bitcoin Cash before any upward resuming of the trend.
  4. Bitcoin managed to defend the $12k level for now. Overnight in Asia should be interesting.
  5. @MYK1 LOL. 😀 For me Litecoin has to defend the $100.00 area. If there is no upward continuation and $100 is broken then for me it spells a bit of trouble for Litecoin. After the tight range bound activity in March 2019 Litecoin shot up. The reverse has happened here so it could mean a lot of profit taking and selling which could trigger a lot of stop losses and result in the price dropping downwards both quickly and sharply. Traders will need to have a close eye on their exit plans.
  6. Brazil 60 is on fire! Hopefully some of you have been trading it on the 'Long' side. The current 'daily' chart is below: It is making new highs. It is also making new higher lows and new higher highs. This is an extremely bullish sign. This trend has lasted several years now and upward trends last a lot longer than some seem to think.
  7. @MYK1, Indian Equity Markets are merely correcting. I invest in JP Morgan Indian Investment Trust have done for many years now. I just use the sharp corrections as opportunities to add to my investment. I invest every month into it and again have done this for many years. I visit India on a regular basis and the growth I am seeing their is just simply phenomenal. The BBC, ITV, Channel 4 and Sky will not always show the goods parts of India (it is a vast country in size) and you tend to see video clips of poverty and slums when it comes to countries like India. Narendra Modi has won the recent election and has the largest mandate in recent times to really make some progressive and positive changes in India to drive growth and GDP. I am confident he will give it a real good go. These corrections are pretty normal when you look at the Indian stock market over the past few years. It all depends on whether you are an investor or trader when it comes to India. In terms of trading India 50 it all depends on what timeframe you are looking at and what your trading strategy is. Your question is a bit too vague. The one thing I need to add here is that I have a 'positive bias' when it comes to investing in India. I openly admit that though I try to see both the positives and negatives of investing in India. Also I do not have a crystal ball and do not practice magic so I cannot say when it will correct itself or what it will do next minute or tomorrow. I would be extremely surprised if it went below 10600's. India's growth story is still in tact and the narrative is as strong as ever. It is whether India can deliver the growth of 8% or more that is required now.
  8. @MYK1 I have been long on Litecoin for a while now and I have seen many of these drops. Unless there is a clear trend reversal then it really does not concern me. Those who are bullish on Crypto but use tight stop losses or joined the party late will be negatively impacted. They may end up nursing losses and then find it difficult to re enter. This price activity and extreme volatility scares a lot of traders and leads them to stay away from this asset class. Strong stomach is needed to trade Crypto’s and if you don’t have it then you must stay out of the kitchen.
  9. How a difference an hour can make! Bitcoin along with its friends are all dropping heavily. This type of price behaviour is pretty normal in Cryptocurrencies for those who have experience trading them. They will appreciate this more so than those who do not trade Cryptocurrencies. Bitcoin is still above $12k for now.
  10. Big drop in cryptos and those with tight stop losses will get stopped out. The question is whether this is a move to flush out stop losses for the big boys to get in at lower prices before the next bullish move or whether we are seeing the start of a trend reversal.
  11. Equities, Gold and Bitcoin going up right now. Nice to see they can all be friends!😀
  12. Bitcoin is trending strongly on the upside right now and is over 5% up. The price action is positive. The trend and the charts are showing bullishness. The momentum is clearly with Bitcoin over other 'altcoins'.
  13. Well Bitcoin hit $13174.30 and up it continues. I could be wrong but capital may be flowing into Bitcoin with the US involved in tensions with Iran and the US Fed toying with interest rates and all the other negative drivers pushing capital into the modern safe haven of Bitcoin. I read somewhere yesterday that Bitcoin was one of the best hedges against the US Dollar and the current monetary system. I am not sure whether I believe that to be the case right now but it certainly has the potential to be in the next ten years or so.
  14. The problem with Bitcoin Cash is that it is going to face some strong price hurdles around the $600 area if it manages to get there. We saw Bitcoin Cash touch $499 and was a whisker away from $500 recently. It may even have exceeded $500 on some exchanges. Positive news flow for Bitcoin Cash is going to be crucial to support any upward price action.
  15. @MYK1, Thank you. 👍 If you look at the chart on the 'daily' set up then you will see that the price 'popped upwards' after this range bound period finished. It seems that Litecoin is still in the bullish upward trend so it could happen again. My only concern is that Litecoin experiences a large 50% correction as the halving is priced in and that is what happened back in 2015 when its previous halving occurred. To counter this we are in a different period and stage in the Crypto cycle so it could be different this time. The simple truth is that I do not know. I have been 'Long' on Litecoin for many months now and if there is a trend reversal which is sharp and brutal then my trailing stop will be triggered, taking me out of the trade with a profit. If this does not happen then my trade will continue and I shall happily pay the daily charges to IG. I have kept my trailing stop as wide as my risk tolerance will allow due to how volatile Cryptocurrencies can be.
  16. I have been watching Litecoin very closely over the past couple of weeks and it is in a very tight range of $117 to $120. I saw a similar example of range tightness back in March 2019 so whether this is a signal for what is to come, who knows?
  17. It seems Bitcoin Cash is intent on defending the $400 price point.
  18. I was wondering if capital allocated to 'altcoins' were shifting into Bitcoin but this would surely cause a drop in the likes of Ether, Litecoin and Bitcoin Cash which has not really happened.
  19. Ether is still managing to stay above the $300 price level but is simply not able to kick on towards $350 and then $400. It will be interesting to see whether Ether is able to follow Bitcoin's recent price action.
  20. Bitcoin Cash seems to be taking the same price behaviour as Litecoin. There is a clear disconnect with Bitcoin's recent price behaviour. Now either Bitcoin Cash has lost momentum and there is going to be a trend reversal to the downside or it is taking a breather before the next breakout to the upside. This tight rangebound activity would seem to suggest that even the 'buyers and sellers' are not sure of its future direction.
  21. Litecoin was the trend leader earlier on in 2019 but Bitcoin has taken over. Litecoin has slowed down and this is of particular interest as its halving event is only a few weeks away. It seems its price is losing momentum and is trading in a very tight range currently. Now this could be prior to a major breakout or a trend reversal. I do not know at this stage but the only way we are going to find out is by monitoring the price action.
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