CLN19 is seemingly approaching a demand area near the psychological $50 mark. The 45º line coming from 0 of the previous major high was touched yesterday and this is expected to support the price around this level. Looking for long entries seems reasonable at this point.
CSCO is one of the very few Dow 30 components at a NEW all-time high. CSCO is riding on new technology in 5G and other areas. The gains are slowed down by some selling but the steep angle
of ascent has continued. The stock is poised to shift sideways ahead of its earnings report date.
USOIL got rejected around the old gap area of 5480-5520 that is highlighted on the chart. This resistance area is a significant one, overcoming it will open the way towards higher targets for bulls. It will also validate the inverse head and shoulders pattern noticeable on higher timeframes. Bears were quite aggressive in pressing down the price and managed to...
This 3 day charts shows basic retracement levels, percentage increase levels from the current low and angle relationship based support & resistance areas. So far, the oil market saw a sharp surge from the low $42, a longterm demand area, and currently it seems there's still some room for further upside. This move up can be regarded as a retracement leg within a...
Good day Traders
The H&S is still playing out from my previous post with a stunted 38.2 fib retracement to print the right shoulder, although I still expect another wave up to complete it. The downward sloping flag from my previous post seems to have turned into a right-angled broadening wedge as we found support at the same level as 13 Jan. Yesterday's drop...
Apparently another fading short opportunity here. Pending price action confirmation and invalidated if price proves itself bullish beyond the angle line. Level of interest ≈ 5265, a 70 tick stop and 1R-3R targets.
People are over exited about Inverted H&S formation or Small Triangle formations but they forget the bigger pattern makes the direction of market.
In daily chart I see this "Right-Angled and Descending Broadening Formations" which it can be Bullish or Bearish but in a down trend must of the time it breaks out bullish.
As I see it can breakout upward now but...
I wanted to point out the channel that has been formed off of the (thus far) crypto bottom.
Ethereum Classic has actually made a higher high in price, but found resistance at the top of its channel.
Bitcoin is nearing the support of its channel, so really needs to see a bounce soon, and not fall below the channel.
Also, ETC/BTC pair printed an 83+ on hourly...
USOIL -0.09% is seemingly about to pull a major trend reversal on the 5H timeframe. The 6780 area resistance is the first zone that bulls need to clear to pave a way to the gap area around 6850. Currently the 5H shows a pullback formation within a bear trend. If sellers persist, they will add shorts around the aforementioned resistance area of 6780. If demand...
As I mentioned in my past post, this is an interesting trend. The angle between the highest point at $20K, and every meaningful subsequent peak is about the same. If this holds true, the next peak should be within a few weeks.
This is not trading advice, nor am I a TA expert. I do this for fun and should not be taken as investment advice. DYOR!!!
This is an interesting find. If I plot a line between the highest point (around 20K) and all the main peaks since then, I find the the angles are all about the same. If that's the case, a nice move is approaching in the coming weeks. Please comment below and like the idea. This is not a trading suggestion so do your own research. This is just something...
If we zoom out, we can see 3 steps : each one based on a specific angle.
I calculated the relation between these 3 values to imagine the continuation, and so, the 4th step.
I found a coincidence to the end of the 2018 crash.
So HODL until sept and buy between sept-oct to prepare the bullish trend during 2019.