The Bulls Are Out - Are you Prepared?

November 06, 2022

Hi There! This is the very first publication of the Rhoda Report. Success in trading is a combination of mindset, planning, and utilizing special tools and strategies. These give traders an edge in the market. Each issue of the Rhoda Report will provide you with top trading tips, market recap and updates, mindset, special tools and strategies, templates, or some profitable plays.

This past week the bulls dominated and our trading group was prepared! We followed our November trading plan and made easy money in the markets!

  • Big Crypto Gainers - Polygon ($MATIC), Dogecoin ($DOGE)

  • Art Gobblers NFT sales caused volume peak in OpenSea

  • Stock Market dropped after the FOMC announcement

The week ahead is heavily news-driven. Based on historical data, expect to see profit taking tomorrow (11/7/2022). Tuesday (11/8/2022) is the Midterm Elections - trade what you see! Wednesday (11/9/2022) with the cosmos and news colliding, expect the bears to be out. On Thursday (11/10/2022) all eyes will be on the CPI data for October. Friday - Veteran's Day - to my subscribers who have served - we appreciate your service!

November Week 11/1 - 11/4 Recap!

In much of the same, the Federal Reserve raises interest rates another three quarters of a point following todays FOMC meeting

Polygon (Matic) has been one of the major gainers for the last 24 hours in the cryptocurrency trading sector, according to CoinMarketCap. Polygon has risen its value by 4.33% in the past 7 days. The price increased by 11.44% in the last 24 hours. At the time of writing, Polygon's price was $0.951668 with a 24-hour

DOGE is up 3.09%, while SHIB spiked 8.3% in the last six hours following Elon Musk's tweet reply to Dogecoin founder Billy Markus.

Learn all about Art Gobblers, the NFT project from Paradigm and Rick and Morty co-creator, Justin Roiland that is storming the sales charts.

Special Tool & Strategy for the Week

Exponential Moving Averages (EMAs) measure the average price of a set number of candles over a certain time period, placing more weight on the most recent candles. The EMAs act as strong support and resistance when it comes to day-trading, specifically the 200 and 800 EMAs.

The 200/800 EMA cross is a great strategy for long and short opportunities on the 1-hour timeframe.

Criteria for Short Entry:

  • Price will close below the 800 EMA

  • 200 EMA crosses below the 800 EMA

  • Retest/pullback of the 200 or 800 EMA

  • Expect a drop/downtrend

Criteria for Long Entry:

  • Price will close above the 800 EMA

  • 200 EMA crosses above the 800 EMA

  • Retest/pullback of the 200 or 800 EMA

  • Expect a bounce/uptrend

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