It seems apparent that cryptocurrencies are worth the paper they’re printed on. With nearly 2,000 of these things floating around, values have dropped 60%, 70%, 80%………you get the idea. And yet in spite of this drop, there’s still another important event looming which I think will cause gravity’s pull to reach Jupiter levels. And that is expressed in a single, simple horizontal line:
Slope of Hope Blog Posts
Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.
It”s been a while since we last saw an example, but one of my strongest historical stats is the Three Day Rule. On this stat, there first needs to be a 2%+ decline, and then on a break back over the 5 day MA, currently at 2627, then on a clear daily closing break back below on either of the next two trading days, then there should be a retest of the previous low (2553.80), before any significant move over the previous high (currently 2672.08). There are no guarantees in trading or analysis, but with the exception of two very marginal higher lows when triangles were forming, this stat has delivered in every instance (so far) going back to the start of 2007.
Unusually I am posting one of our premarket videos for subscribers, but I have a very busy afternoon lined up, and I’m aware I haven’t published much this week. This is the full video covering all 19 futures that I look at in the morning. Worth mentioning as well that I may well be away on Monday. Full Pre-Market Video from theartofchart.net – Update on ES, NQ and TF (at the start) and then DX, CL, NG, GC, ZB, HG, KC, SB, CC, ZW, EURUSD, GBPUSD, USDJPY, USDCAD, AUDUSD and NZDUSD: (more…)