Traders are Securing Profits!

November 28, 2022

Hi There! It's another week of the Rhoda Report and I am super thankful for each of you!

Last week was short, but a very impactful trading week. Our mastermind group secured profits! Last Monday, we did see a rise in Bitcoin price after bouncing off a support level at 15,470-ish. This was followed by a big push to the upside on Tuesday to 16,594, and eventually rejecting resistance at 16,811 on Wednesday.

In other news, the FOMC Minutes released last Wednesday suggested that there may be a slowdown in rate hikes soon. But, analysts are skeptical.

Other key highlights from last week:

  • FTX "hacker" continues to convert ETH

  • The Home Depot filed for Web3 trademarks

  • ConsenSys to collect IP addresses from MetaMask

  • Japan is planning to release digital yen pilot in 2023

We are heading into the end of November this week:

Fed Chair Jerome Powell's speech and employment data (initial jobless claims, unemployment rate, and non-farm payroll) are the key players driving the markets in the upcoming week. Other high-impact economic releases include the PCE Price Index (Fed's inflation gauge), GDP Growth Rate, Pending Home Sales, ISM Manufacturing, and Consumer Confidence.

  • Monday (11/28/22) - Expect institutions to take profits

  • Tuesday (11/29/22) - Momentum is your friend

  • Wednesday (11/30/22) - Secure your profits

  • Thursday (12/01/22) - Bearish predictable day for crypto

  • Friday (12/02/22) - Do not overtrade; pay yourself

All bullish pumps will the short-lived!

November Week 11/20 - 11/26 Recap

'Substantial majority' of Fed officials see slowdown in rate hikes 'soon'

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The Home Depot Files for Web3 Trademarks

Users's IP address and Ethereum address will be collected when they send a transaction.

As per the recent reports, the Bank of Japan is planning to launch an experimental digital yen in early 2023.

Special Tool & Strategy for the Week

In the first Rhoda Report (Issue #1), we discussed Exponential Moving Averages (EMAs), particularly the 200 and 800 EMAs. These were used to help us identify uptrends and downtrends.

Let’s build on that!

Now that we have identified the trend, how can we confirm it?

TDI Shark Fins.

To use the Shark Fins, you must first understand the indicator itself. The Traders Dynamic Index (TDI) is a 3-in-1 indicator that can anticipate trends, momentum, and volatility. The key components of the TDI indicator include the 70 level (overbought condition), the 30 level (oversold condition), the green line (RSI price line), the red line (trade signal), the blue lines (Bollinger Bands), and the yellow line (market baseline).

TDI Shark Fins occur when the green line breaks the Bollinger Bands and reverses to form the shape of a shark’s fin. 

Criteria for Short Entry:

  • Upper Shark Fin

  • Usually forms near the 70 level

  • Green line breaks above the top blue band

  • Breaks back below

  • Expect a drop/downtrend 

Criteria for Long Entry:

  • Inverted Shark Fin

  • Usually forms near the 30 level

  • Green line breaks below the bottom blue band

  • Breaks back above

  • Expect a bounce/uptrend

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