- Higher lows
- Break and retest of descending trendline, forming a new uptrend
- Rejection of TL, 0.382 and 50MA on 4hr and 200MA on 1hr would be ideal entry for a buy.
- Higher high and higher lows
- Break and retest of descending trendline, forming a new uptrend
- Rejection of TL, 0.618 and 50MA on 4hr and 200MA on 1hr would be ideal entry for a buy.
Two platinum/palladium miners that are set to catch up with the broader market rally.
SBSW: Above its VWAP from recent peak, VWAP from February peak and VWAP from March low. Also consolidates above 50 EMA which found support at the 200 EMA and is now pushing price higher. I have removed the 5 and 20 EMA in order to see the VWAPs but please add them to your own...
On the 4 hr chart, BTC has printed a Bear Flag or (ascending bearish wedge ), and also about to run into the converging 50MA & 200MA. It is testing the bottom of our 2.5 month long, ascending recovery channel, the RSI is showing us Bearish Divergence since about April 30th. We could easily retest 8200 and step down to 7700 & 7300.
Break and retest of ascending trendline, rejection of 50MA, 0.618 FIB and the previous support, now turned into resistance zone.
Looking for a sell down to the 200MA which lines up with previous descending trendline
Rejection of both 200 and 50EMA on the 4hour, as well as break of the ascending trendline.
On the 1hour we have had several rejections of the descending trendline
BTCUSD has come to form nice Bearish Wedge on the Daily Chart. We must be very close to a direction decision as we are now being 'pushed up against the wall' of the 50MA & the huge downtrend line of resistance at the same time, both of which we have basically bumped our 'noggin' on 5 out of the 8 last days...
Also in play, what could be considered the Left...
Just a quick idea that shows how, as the Covid-19 crisis worsened, the RSI "Death Cross" clearly indicated the huge drop off in price that was about to occur.
Conversely, despite record unemployment claims in the US, when the RSI "Golden Cross" recently occurred, the price was able to break through previous resistance.
Hi Traders!
The market is in a strong uptrend.
As you can see, the market is in a healthy uptrend since 20th February.
From then (price was around 1.08000) the market started moving up.
After that the market made a retracement move.
It retraced from the first pik (1.11800) towards the support (1.11000).
Then the market moved up again and made the next higher...
As traders what we want to know is if we have hit the bottom or if we are going up, or are we going to fall some more. On the post I did on the 22nd I told you we were going to fall in a matter of hours and we did. Check this out, there are 3 keep spots we need to keep an eye on to see if we are going up or down. I know the answer but I would like to hear from...
First, acknowledgement to Trading Shot post (linked below) which influenced me on some of my 50/200 MA calculations and understanding (and hopes!):
Thank you Trading Shot
Factors I'm watching:
LTC as a leading indicator - which I've been doing for about 2 years.
Standard Fib ratios. .618 my favorite and coincides with red TA line (discussed below). I...
I believe that it is possible to beat the market through a consistent and unemotional approach. This is primarily achieved through preparing instead of reacting. Click here to learn more about how I use the indicators below and Click here to get my complete trading strategy! Please be advised that I swing trade and will often hold onto a position for > 1...
The old adam and eve neckline we broke up from before was holding very strong support after the bearflag breakdown but could only hold for so long before it gave way. Are next 3 big supports are 7.3k the 4hr 200ma(shown here in blue) the 1 day 50ma and the 7k psychological. The bearflag breakdown target could send us all the way to 6.9 or even upper 6.8k. However...
The 200 MA is providing resistance and the 50 MA is providing support. This is most likely a flag pattern, and the ADX is about to go green so will most likely be bullish. But, since the earnings report is coming out today, I have chosen to create buy and sell orders.Also, due to past earning reports the volatility is very high so I expect the same to happen.
