You would argue this is "simple" to spot (liquidity pools) because it is a hindsight 20/20 type analysis. I tell you what : Just simple mark weekly high/low and monday high/low, see how many times price have broken it and only to bounce back. I am not saying price moves like that always but with little context (i.e looking at liquidity pools, sentiment analysis,...
Gold recently broke out of February's bullish flag pattern and broke pass that area of supply that is now demand (1350's area). Price is now floating in the Weekly Resistance area of 1428.30 and is creating an ascending broadening wedge pattern. There is also bearish divergence on the RSI indicator. These confluences are letting me know that this pair wants to...
Citigroup has a pre earnings run pattern which tends to be caused by Pro Traders setting up to take advantage of the earnings reaction. The company will report its 1st quarter earnings on Monday. C had a reactionary gap up at open caused by the JPM gap today. It formed an indecision day candle rapidly. The early gap could interfere with the technical patterns for...
WFC reported its 1st quarter earnings today, on Friday. The run down ahead of earnings was a technical pattern that indicated the stock was at risk of a run or gap down. WFC ran down as the market opened due to a weak report.
JPM kicks off the official earnings season this week with a report due out Friday. All attention will be drawn to these early banking industry reports that will set the tone for the entire 1st quarter earnings season. The stock has had buyback activity recently while some Dark Pools lowered their holdings. The chart shows patterns of Dark Pool rotation.
Earnings Season is approaching soon again. The Big Banks are usually the first industry to kick off the earnings season and often provide an indication of how the earnings season will play out. Checking the largest banks' trendline patterns shows more selling than buying. BAC had 4 big down days recently and is now hovering at a gap support level. The bank may...
as mentioned in prior analysis, I short this pair due to every trader out there trading it long. "It's on a key level" or "insert chart pattern". I've been thinking in terms of knowing that everyone else sees the same thing I do, so where are the banks gonna take price. This is an example. Drew in some ghost candles on this one and look to use them more.
Can you even remember Ripple after all this Bitcoin hype? Maybe if you made a bet on the Swell conference. Which I confess that I did, but not a big one :) This time though, I am taking a bigger position. Fundamental With BTC finally stopping its insane growth, it's time to take positions in alts. Preferably earlier then today, but Ripple still has a very...