Crypto Opportunities - Market Analysis for Aug 16th, 2021

Introducing the Opportunities Sheet

I'd like to get everyone here acquainted with the Opportunities sheet. This is a centralized place to find the medium degree / micro degree trade setups that Ryan and I are tracking.

1) Several of the tickers on this sheet have hyperlinked charts that allow you pull up the chart and navigate through the count
2) The sheet is updated ad-hoc as Ryan or I post partial exits / profit taking / increasing the stop level, etc. Additionally we publish a new sheet each week with what's still current.
3) Blue columns on the sheet corresponds to the blue support region on the charts, The orange column references what I like to call the likelihood level. Some of you may notice my use of orange lines on my charts. I use these to indicate a price that should be held in order for a setup to remain reasonably likely (different than a setup remaining valid). The level that's included here pertains to the overall setup, not micro portions of the overall move that's being played for.
4) Red column: This is the price that fully invalidates a given setup. Often times, especially when dealing with a larger 4th wave this can be quite a ways from price, so please be mindful of your sizing and risk if using this level as your stop
5) Pink Column: As price starts to head favorably in the direction of a trade we wish to maintain a semblance of good risk / reward, ie, we want to protect our gains. This level (if it's inputted) reflects the level where Ryan or myself has raised the stop up to.

6) Yellow columns: This is the range that the trade setup targets. Cryptos have wild volatility and Ryan and my work track these in logscale. The salient point in that regard is that these regions can often be huge, how you decide to exit a position profitably will be up to you. We will do our best to update the stops to keep these trades live if prices happen to extend to the upper ends of the region. However, everyone is on their own as far as managing these. Ryan and I are in this live trading our own money and tend to be generous in sharing how / when / and where we are entering and exiting but we will not make recommendations as to how any of the members ought to manage positions.

Skew: This columns shows the ratio between reward : risk. For the calculation the reward is defined by the percent difference between the lower end of the target and current price (in terms of current price) divided by the percent difference between current price and the stop ( pink if updated, red if not) in terms of current price.

Should we get good confirmation of price back in bullish mode we may find occasion to share on here shorter time frame / micro setups for trades that lesser in duration. That will be entered in a separate tab.

Without further ado...

Jason Appel is a financial markets veteran who hosts our Beginners Circle section for new members and provides coverage of U.S. stocks and cryptocurrencies.