Loading ...Surf City did and the GBTC position from $8.95 is doing rather nicely.
https://surfcity.co/2019/05/17/trade-alert-503/
Added: Gold & PMs are not the only market you should be focusing on… BitCoin is now up almost 3x off its late December 2018 lows. Where else can you find this kind of action and my site has been all over it. Here is a post from April 2, 2019.
https://surfcity.co/2019/04/02/bitcoin-is-surging-and-im-on-board/
Energy Cycles on Crude Oil, NatGas & Uranium are a freebie this weekend.
https://surfcity.co/2019/05/19/surfs-weekend-updates-30/
Enjoy and have a great weekend.
https://surfcity.co/2019/05/17/surfs-wrap-22/
Was anyone listening or paying attention? I sold my Etherium (ETH) positions on Wednesday at $270 for a very nice gain but my chart below shows that BitCoin & other Cryptos are likely moving into a Trading Cycle #3 low now. If you are trading this sector, will you know where the next low will form and when?
Surf’s Website: https://surfcity.co
GBTC D.34 made a new Trading Cycle #3 high but then printed a bearish reversal candle into the close (on volume). Was anyone expecting this? My Time & Price Cycle models were screaming for at least a short term top and dangerous to chase here.
Below are two Daily GBTC charts & a Weekly BitCoin chart. The first from this morning where I warned that price was forming a parabola and the second one from today’s close. The gap up two days ago was likely an exhaustion gap that will be closed and I have shown potential support levels near the 10ma.
While this likely signals a TC3 top, a high on D.34 is bullish and the cycle norm is for the highs to be at least re-tested, so we may well see a 4th Trading Cycle within BitCoins longer Intermediate Cycle after TCL3 forms. BitCoin normally has 3 shorter Trading Cycles within its longer Intermediate Cycle but has had 4 in the past, especially during bullish runs like we are seeing now (my 3rd Weekly BitCoin chart above shows a 29 Week ICL at the end of the last bull phase which had 4 shorter Trading Cycles).
Bull case is still in play based on the price action I saw into the close today. Price closed above the Daily 50ma and Weekly 10ma. Both these key cycle moving averages were severely tested today but held with strong reversal candles into the close.
My Time & Price Cycle models indicate a short term TCL/DCL should be very close (this week or next), and I am expecting new ATH’s in the weeks ahead. Below is a link to today’s play by play action over at Surf City.
https://surfcity.co/2019/05/10/spx-update-11/
Enjoy.
https://surfcity.co/2019/05/08/surfs-mid-week-updates-22/
Surf’s mid-week updates are all posted.
https://surfcity.co/2019/05/01/surfs-midweek-updates/
Have a great weekend everyone. Enjoy.
https://surfcity.co/2019/04/26/bitcoin-gbtc-weekend-update-4/
Not sure this one will be as good as my call on Qualcomm (QCOM) early last week before it popped but I like the long term prospects on this stock and I think it just found a major low 5 days ago where I have placed my stop. Enjoy
https://surfcity.co/2019/04/26/trade-alert-484/
https://surfcity.co/2019/04/20/happy-easter-2/
BioTechs (XBI) just delivered a failed Trading or Daily Cycle today, signaling they are moving into an Intermediate Cycle Low (ICL) now.
Will BioTechs lead the broader market lower? Time will Tell but my cycle work shows that BioTechs often lead at turns.
I was fortunate to spot that QCOM was moving higher out of a short term TCL/DCL this morning and bought it at $57.72 before it exploded higher on litigation settlement news with Apple. Finished up over 23% on the day but I also like the stock longer term due to its technology patent leadership in 5G phone chips.
https://surfcity.co/2019/04/16/trade-alert-470/
While Gold & PM’s are fumbling here, my cycle work shows that BitCoin & GBTC may have found a Half Cycle Low (HCL) earlier today? I took another position near yesterday’s low and I am still looking for a late cycle push higher.
https://surfcity.co/2019/04/16/crypto-update-2/
Yesterday’s Trade Alert:
Surf has had some very nice 2019 trades in this sector, which is in a deep Bear Market.
https://surfcity.co/2019/04/10/bitcoin-gbtc-mid-week-update/
in 2020-2021 more so than 2019…
Were you on board the Bus? Surf City bought the Trading Cycle #2 low last week…
https://surfcity.co/2019/04/02/bitcoin-is-surging-and-im-on-board/
Will Gold follow? Time will tell but I warned last night that an ABC pattern into a lower low may well be playing out across the PM complex based on my Time & Price models.
https://surfcity.co/2019/03/28/silver-palladium-update/
Enjoy. 😉
https://surfcity.co/2019/03/23/stocks-bonds-cycle-update-73/
Enjoy… 😉
https://surfcity.co/2019/03/21/surfs-up-170/
Has Gold found its 5-6 month ICL yet or was the FMOC just another head fake? Key question and while waiting to find out here is an update on my first Crypto trade in 2019. BitCoin and other Cryptos are deep in a Bear market but using Time & Price Cycles, I am still able to find 5-6 month ICLs and make a reasonable profit. Also, BitCoin may not be done yet but much depends on where it finds its next short term Trading or Daily cycle low (TCL/DCL).
My Trade cost basis was $8,962 with a modest profit of $1,037 while deep in a Bear market. My charts will show you why I took profits when I did as my Time & Price models show BitCoin & GBTC should be heading into their next short term low (TCL/DCL).
https://surfcity.co/2019/03/20/trade-alert-449/
