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I am Grxxt

@IamGrxxt

Jun 9

$SPY We had a bullish 8/21 cross for a little while, but straight back down to bearish territory again today. With CPI data releasing at 8:30am EST tomorrow. The chart is telling us in advance what we can possibly expect.

Bearish MACD, RSI, 8/21, under Pivot. Not a good look.

$NQ in the same boat. I imagine crypto may suffer the same fate soon.

Let's take a look.

Under pivot, 8/21 bearish, rejected 0.5 above. There's literally NOTHING tech related I would buy right now.

Read 6 tweets

I am Grxxt

@IamGrxxt

May 29

Here's a side-by-side of $SPX and $BTC since the March 2020 crash. Turns out it wasn't a crash, but just the dip before the rip! Now, what can we say? Well, mostly that people are taking profits after a massive increase taking advantage of retail traders like you and I.
🧵👇

I know a lot of people who are hurting. They just started investing for the first time recently. Most likely baited by the media, crypto Twitter price targets, or friends who showed them their huge gains. They just bought on word of mouth without doing any research.

What can we do now? Well there are two options:

1. Give up. You tried, it's too much and you don't feel like it's worth it to continue. Big money wins. You lose.

2. You can start learning, doing your own research, and make your own decisions based on technical analysis.

Read 8 tweets

I am Grxxt

@IamGrxxt

May 28

Short term falling wedge. Potentially bullish set up with bullish divergence. $ETH

I've entered long on this with a stop just below the wedge. Let's see how it plays out. Short term price target is $1,940. Stop loss at $1,680. Entry is $1,730. I'm risking $50 to win $210. That's a 4:1+ R/R. Can this trade lose? Yes, but it's a calculated risk I'm taking.

So now that I've got the move I wanted, I'll move my stop to entry, go to sleep risk free, and hope we get the break out.

Read 13 tweets

I am Grxxt

@IamGrxxt

May 23

Support and Resistance Explained:

I'll use Facebook(FB) stock for this example. Starting with a blank chart, on a high timeframe like the daily or weekly. I'm starting with the weekly because it offers more information to start. $FB
🧵👇

Look for the places where the price reacted more than once in the same location. The goal is to try and get as many candle touches on the line as possible. I like to mark areas of resistance in red(above current price), and support in blue(below current price).

Now zoom into a lower timeframe(daily) and adjust the lines to hit more candles. The green lines are previous lines I adjusted slightly, and the yellow lines are new ones I've found. Now that we have these, I'll zoom into a 4hr chart to see this circled area better.

Read 8 tweets

I am Grxxt

@IamGrxxt

May 17

CANDLESTICK PATTERNS📈🕯️📉:

Today we are going to take a look at what the candles in a chart can tell us. There are many different candlestick patterns, and they can give clues to where the price could be going. Not all candlestick patterns work as well as others.
🧵👇

Increase in popularity has lowered their reliability because they've been studied by hedge funds and algorithms. These whales rely on super fast execution to trade against retail investors who execute technical analysis strategies found in books.

In other words, hedge fund managers use software to trap participants looking for high-odds bullish or bearish outcomes. However, reliable patterns continue to appear, allowing for short- and long-term profit opportunities.

Read 22 tweets

I am Grxxt

@IamGrxxt

May 15

Technical Analysis 101

Steps:

1.Identifying the trend

There are main trends and then trends inside trends. Figuring out the direction is easy, but different time frames can give mixed results. Higher time frames are always more reliable, and where we find main trends.
🧵⬇️

2.Drawing support and resistance levels

Support and resistance levels are areas where the price is likely to reverse or set up for a breakout. A support level is where the price will find demand in a downtrend and turn upward. Vice-versa resistance will reject and turn downward.

3. Establishing entry and exit points

Using these levels, you can establish areas where you can to go long, or go short. If it breaks a resistance or support, you can enter on the break and use the level that broke as your stop loss. This maximizes your risk/reward ratio.

Read 7 tweets

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