Twitter may be finally showing some signs of strength by putting in higher lows and repeatedly testing the previous support now turned resistance. Will be looking for a confirmation of the trendline or a break of the resistance on high volume.
Last one for the evening. It looks like TWTR is breaking its lower trendline on the ascending triangle pattern it was putting in. The small wick at the top of today's candle stick could have been a backtest of the trendline and appears to be forming a bear pennant formation in the short term. Will be waiting for confirmation that it is going to continue to the...
It looks like an ascending triangle could mark the beginning of the small rise I was expecting to re-test the recent highs, touching the long-term downtrend line, which we haven't done yet. These mid-range trades are a bit risky, but the signals are clear enough if it breaks $264. If you take this trade, it would probably be best to keep tight stops at $255-$258.
Here is my take on how to trade BAC's ascending triangle. If I were to take a position at the current price of about 15.68 and set a stop between 14.92 (on the tight sight) and 14.72 (on the looser end) I would be risking anywhere from .70 to .90. Say I take a stop at .80, well my target is actually below the previous high ranging from 17.5- 18.0, making my...
In H1 TF I found a nice Acending Triangle Pattern, if break this triangle, I think this pair may be go to 1.30 level which is very strong resistance. And this pair is also in uptrend mode. We looking for Long position after break this above resistance line of triangle or after retrece from this resistance line. And put stop loss near swing low point of this pair....
The uptrend on the daily is progressing nicely.
Volatility is still relatively low, which is a great sign for a strong trend. This is shown by the ATR indicator which is the 10 period ATR versus the 200 period ATR.
RSI is inching close to 70 which is likely to go above 70 for that final push we need to break above $305.
The price has formed an ascending...
A descending triangle is shaping since the 14th of Februari. Notice that this triangle is forming after a pretty bullish trend starting from December 2014. This could mean a trend reversal triangle.
There were still people buying up the 1.9600 level. I assume they have a relative tight stop because the first stronger support level is at the 1.9380 area which...
I still say this one could go either way, but the market is starting to show a clear bullish preference based on the ascending triangle we appear to be in. A break above recent highs would create a good long opportunity and a break below recent lows would break the bullish trend and confirm bearish targets outlined on the chart. I'm marking this idea as "long"...
GBPAUD has been a pair that we've been tracking for about a month now. For the past w\few weeks we've been waiting for the ascending triangle breakout and now that it's occurred the next chance to get long would be a retest of structure.
As the market has wiggled it's way down, we've set up a potential bullish Gartley pattern that can be used to take advantage...
A couple of observations:
1 The 1.618 extension with a prior 6.18 retracement seems to have slowed down the pair from moving higher.
2 A daily AB=CD pattern / 3 drives pattern have completed.
3 The pair recently broke out of ascending triangle on the 4H chart.
4 The Bollinger band shows extreme price movements on the 4H chart.
Looking for an entry setup with at...
Last night the RBA cut their growth estimate to 1.75%. After having recently cut their rate to 2.25%, this should be enough to weaken the AUD, creating selling pressure on this pair. My fundamental bias on AUDUSD is therefore bearish. If on top of that the NFP would come out favourable today, there would be one more reason to look to sell it. As always, I want to...
As I point out in the chart, MRK is in a very tight consolidation here. With the RSI holding inside of bullish territory after it's recent bounce off the 150EMA it has run into previous resistance. This resistance coincides with a sort of ascending triangle based on the higher-lows it has been making since March '14. This pattern comes to us after a long run up...
22/07/2014
Corning Inc (GLW)
On the daily graph we can see an ascending triangle in an uptrend. There were breakout @21.74 and we can see there is an flag near upper line of the ascending triange, which is bullish signal.
I'd bought at current market price with stop loss at $21,45.
Measured price target is approx. $22,80.
Extended price target is approx....
