Shiba Inu has pushed quite hard. I can only think of sled dogs ona long marathon push over a sun prepared snow trail. The ride might be frictionless but nonetheless grueling and perhaps time for a rest. The chart shows the breakout and then extension above the VWAP lines that are trying to catch up. In proper risk management. I will take half the position off...
It is important to know when the NASDAQ:NDX and a few of its components are overextended and that a minor correction, aka retracement, is imminent. It doesn't really matter if you can guess the exact day, but it does matter that you can see the risk coming so that you can plan to take action on open positions and plan ahead for new positions for swing or...
EUR/USD is showing signs of overextension on the daily. With an RSI reading of 24 and nearing the bottom of a declining trend line, we should start to see some calls for liquidity from sellers, opening up the opportunity for buyers to recover slightly. I identified our upper supply zone which which sits right at our Major CHoCH level. I’m expecting price to...
NASDAQ is been on great great run in last couple of days. Is the correction due in NAS100? Will NAS100 give room to the buyers who missed this rally ?
Don't need to say much here.. everyone seems to think its 2021.. CVNA.. BBBY...GME... TSLA.... Let the downfall begin.
OXY has run up quite well, especially with the help of heavy buying from Warren Buffet and his conglomerate. Is it set up for a downturn? On the chart, the red horizontal line is the market high pre-Covid. The MACD a lagging indicator has the K and D lines in early convergence well above the histogram. Time will tell but OXY might be pulling back into a...
Downside targets highlighted - with multiple targets in between. This is just an forecast - real entries will be based off H4 or H1. We can have targets in between around 85.500, 85.000 then potentially 84.000-83.000. Entries are based off PA. More conservative stops will be above 88.000.
For currency pair AUDJPY, wait for another pull back. Currently, the currency pair is overextended. The currency pair has been trending in one direction for a long period of time with no significant pullback.
IBM overextended on monthly Bollinger Bands and hitting trend line resistance. If this plays out similar to history I'm expecting a 20% drop within the next 200 days and about 40% drop in the next 2-3 years. Fundamentals also looking weak with declining revenues, lower margins, and burning cash. Cleary a breakout that holds to the upside will negate this bear...
SPY looking very bearish here, frankly, the markets have been overextended for quite some time and all technicals are bearish on almost every timeframe- Some FIB levels and RSI-based supply and demand zones to keep an eye on- - Bearish ABCD Harmonic Pattern Formed - Spinning Top Candlestick Pattern (Reversal Pattern, Bearish in This Case) - Bearish Butterfly...
A lot of times we get away from simply keeping it simple. When it comes to trading, simplicity will be your best friend. I consider Price Action the "OG" of all technical analysis. On the same note, I don't knock anyone who uses indicators to make a profit. I do have a few myself that I originally started with, that I still plug in from time to time. I will...
Eventhough SPY is overextended on the Daily, the Bulls seem to be keeping it propped up and pushing for 460. Can the bears step in and push it down? We shall see by the end of this week leading into Mon.
AMD has been on a tear lately, but we are now extended and expanded pretty good now. Weekly resistance sits around 122, so I wouldn't be surprised if AMD has a price correction here soon. I have a side by side comparison with the weekly and Daily chart. With the weekly showing a nice 3 week run after the bounce. I have support around 112. If price pulls back...
We can expect the price to come down Because we have an over extended W formation. If we take the fibonacci on the impulse we have a confluence of structure on the previous leg of extended W formation. We could expect a .5 fibonacci retracement . If you want to take an entry make sure you follow the rules of your strategy. For a better entry use lower time frames
The SPY closed on Friday finally breaking below the channel that it's been holding for quite some time now, and closed sitting on the 50-day SMA. Every time we've previously touched the top channel line, the SPY has fallen to the bottom channel line and bounced right off (see charts below). However, there is a very clear shift in seller volume starting to outweigh...
Here we have AJ on the Daily Chart. Price has been respecting this trendline and is currently pushing higher towards the 85 whole level in price that has acted as previous resistance. We are very overextended on this pair, with AUD strength and JPY weakness across the board for months. Lets see what happens on this pair if we hit the 85 level!
If you draw a trend line on top of the price candlesticks, you get the upper level of the channel, which seems to be overextended. This has not meant a strong reversal necessarily, but more of a consolidation period. Interesting to note: - the 50sma has been an important level for some time - the lower Bollinger Band has also acted as a potential support As...