The Traders Room

Continuous live chart links below (click on the chart and drag it to your left side to get a better visual) - Links were updated

SPX https://www.tradingview.com/chart/umK5kdfb/ ES https://www.tradingview.com/chart/4sezBgGr/ NDX https://www.tradingview.com/chart/NyW45HOj/ @cdelaney ES link - https://www.tradingview.com/chart/FPgRGuDs/

Silver notes from last week

Also, please note that if 75$ level holds on the daily close and 71$ holds on the weekly close, silver will squeeze higher.

The price has almost hit my main C&H target box.

Dec 31st close will be important, but it will be a strong annual close anyway, see the chart below.

Both previous 2 strong annual candle closes followed by much higher levels in the following year!

The first big move in the early 80s was over 42%, and the second move in 2011 was 61%, so expect the Silver price to squeeze at least 50% higher early next year!

BTC is down, while ETH is back to the highs, a very good development in the altcoins world

BTC is backing off its upper trendline, which is important to hold, as we want BTC dominance to fall

We want BTC Dominance to go off the cliff. I still think it will be the case after Sep correction in crypto

ETH Dominance is trying to flip its weekly trend to bullish, still tons of time left to fail. I will check it on Sunday evening.

Test

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Here is an example trade with 1h timeframe chart.

Since the price broke above yesterday’s high, the opening downtrend was weak and re-tested the gap up, or a breakout zone, which is our demand zone. Then the price has squeezed up.

Exactly when I took a long trade! I took profits based on my extension targets and put a stop at BE on the rest. Then, closed the rest of my longs near the close of the day

testing