sup y'allll (extra texas twanggg),
another week rolls by in the crypto space and the action continues to be choppy. difficult trading environments like this one require exceptional risk management + extreme discernment when it comes to trading setups. here's a recap of my thoughts from this week and for the week ahead:
k.i.t.t. - this week marks the first week of our resident trading AI "k.i.t.t." (Knight Rider anyone??) doing the heavy legwork in locating the best trading setups for our community. i have a very high level of expectation when it comes to delivering on anything in life. i hate losing. simple as that. the results that k.i.t.t. has delivered on this week have certainly surpassed my wildest expectations thus far. considering we had nothing about a month ago is an achievement in and of itself.
we (@beamup and i) are working on the following add ons to k.i.t.t.'s playbook, namely:
- coupling inside bars on intraday timeframes (30 + 15min bars) to the current alerts. this will be a bit tricky because we don't want to sacrifice the quality of the alerts for quantity. again referencing the low hanging fruit principle here. we will achieve this by requiring a 30 or 15 min bar to have at least one higher timeframe (monthly, weekly, or daily) inside bar and one mid (12,8,6,4,3,2,1 hr) inside bar (multiple checkmarks, oh ya!)
- adding an extra emoji for the higher quality alerts (we realize the alerts are a tad on the overwhelming side at the moment, and will be cleaning that up next week)
- abnormal volume alerts. extra useful for detecting those alt coin pumps (#PAMPIT) before they go. sandbox testing this week has been highly encouraging. anticipating we'll have that out for a chat beta test here soon.
extreme oversold and overbought alerts. let's just say these alerts will be far more reliable than a typical RSI or Stoch RSI reading if we are able to execute on the idea correctly. - alerts for hammers and engulfing bars.
gold/silver - looks ready to break out. check out that monthly. granted it's been the worst trade in the world for about 9 years now but i just dusted off my thinkorswim futures trading account in case that move is for real. silver too looks poised. maybe Trump is going to get his trade war, along with a real war if he keeps at it. interesting times. we live in. 21 trillion dollars in debt and counting!
bitcoin - it does look like we are about to get our inside week. an inside month is also on the horizon. between those two setups, the direction those two break will very likely set the tone for the market through summer.
if you are having difficulty trading this market, please get at me, either via email or in the chat. let's figure out where things are going wrong. got any suggestions for future videos or newsletter topics? get at me [email protected]. and finally check out the links below for more deets about what i do and how to get involved.
🚀 chat room + crypto alerts: http://bit.ly/TH_chat
💸 precision trading course: http://bit.ly/TH_tradingcourse
💊 red pill newsletter: http://bit.ly/TH_newsletter
hope you all have a great rest of your weekend.
cheers!
TH
Big gold and bitcoin move up would certainly put a smile on my face. :)
i agree we'll know soon!
This is starting to look like it may be the real thing - as long as it doesn't reverse course and target 1100 like some people on TV are coming for. Personally, I don't see how it could, with the current political environment.
Also, that consolidation pattern it just finished on the weekly - the last two times it completed one of those was followed with a 300+ point run to the upside.