As you can see on the posted chart today we completed the Head & Shoulders Bottom. I've written out the calculations to help teach you how to measure price target.
The following is a list of Bearish & Bullish indications going into tomorrow.
((Circle colors: Yellow = Bullish, White = Bearish)) Bearish: -Head & Shoulders Bottom theoretically complete. -Bearish volume to price divergence. -Topping signal (my indicator). -RSI overbought 1 of 2 RSI signal. -DMI+ nosing downward (slight). Bullish: -Green last 4.5 sessions. -Growing OBV (as expected). -ADX nosing upward. -DMI- nosing downward.
I hope everyone had a great day today! Are you Bullish or Bearish going into tomorrow?
Cheers, Mike
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Sorry for the messiness. Was at least a LITTLE cleaner when I posted lol and now sometimes it's glitching blank?... Oh well. haha
keep charts clean too many indicators in the long term is not a good option in my experience ;)
UPRIGHTTrading
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@Anderson-FX, totally agree, I usually only have a few indicators on main chart. I have separate ones for analysis, but I will keep in mind that it'd make easier to see my analysis, for sure!
@mikeright25, no.. its showing but you have so much stuff on there, how can you see anything? and why so many indicators? I mean I see you mentioning divergence, so obviously you know about this stuff but looks like you have it loaded with scripts to identify candles? or something. Just so busy. I literally can't see the candles or be able to focus on one aspect. I mean if it works for you great.. I just cant even see the chart! lol. But if it works for you... that's all that counts. I just had to make a comical comment because I cant even see anything because of how loaded and overpacked it is.
UPRIGHTTrading
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@CJS04, Lol I only use this many when I'm doing analysis. I mean, normally all of the lines and words are gone, which cleans almost the whole thing. But yea, usually only 2 bottom indicators at a time. Just this wanted to show more for the analysis. I appreciate your comment still haha. (also, notice how the words are outside of the box, the chart also glitched a little).
CJS04
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@mikeright25, lol... well just be careful.. while the candle sadly does look bullish, the anticipated move for the week is 6.25 which would mean anything above 452 and you are headed to two deviations out which becomes a bit crazy before they reel it back in for the week, should it happen.
UPRIGHTTrading
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@CJS04, yea, have to be careful if you're short and it runs, but also careful if it drops fast. Sentiment has been a little shaky lately with lots of uncertainty -- worries of supply bottlenecks, inflation, infrastructure, earnings week, etc. I expect VIX to jump again. I'm not saying I'm bearish, this is a very clean bullish setup, but I don't trust that it stays that way for long. Best to hedge the risk a bit.