Textbook classic signal, confirmed by subsequent price action. Short now if you didn't yet!
Strong support shuld come at 300 however 265 is not out of the question
Not a good sign as we plunged below the 1day charts buy/sell line after days of constant support from it. it takes us back to take another look at the 4hr charts strange looking head and shoulder pattern we had our eye on the other day. This pattern seems increasingly more legit and if it was indeed validated the drop target is as deep as the 5.9k area. I have...
Never fully recovered from the Facebook competition announcement back in early May, which caused a huge selloff. Earnings on 8/7 AMC, might consider covering before then. XLK will continue to consolidate in my opinion. We should have downward market momentum with us in the short run. TA: Moving Averages: Rejected by the 50 day moving average continuously...
As I anticipated, we would find support right at the 1 day 50ma...our previous bearflag consolidation had some bullish divergence on the 4hr chart and though it couldnt stop the bear breakdown it indicates that the correction may be close to over...Im thinking the 1 day chart 50 ma (in orange) could certainly be that. Currently we still haven't even touched...
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...
Stock opened today and is already forming strong short term patterns.
Hi, guys, this analysis is for those who want to hold the position for long-term this strategy's name is BAMM (bat action magnet move ) when we predict a bat pattern on the chart we should wait for B leg breakdown and then enter the trade, in this case, I predicted one nice bat pattern on weekly chart NZD/USD and as you can see B leg breaks down and now we can...
As I said in my previous idea that in order for the bull pennant to trigger it's bullish break that the current 4hr candle simply needed to close above it(which it seemed like it was ready to do) I also said it would need a surge in bullish volume to confirm the breakout as well and to look for both of those and not to make any decisions until the breakout is...
I think it's very likely we can head to 5.9k here. The stochrsi on the 1day chart has plenty of room to drop still and the reason we are currently consolidating I believe is that the 4 hour rsi just hit oversold conditions. So it is likely we will fall back down and retest the bottom trendline of the pink symmetrical triangle. Even though we are currently at a...
"The chart speaks louder than words." Any thoughts on technical analysis of BTC are always welcome in Comment Section. If you find this article useful then do consider a like. Thank you. Legal Disclaimer: This is not an investment advice. It is to be used for educational purposes only. This is purely a technical analysis and one should not take it for...
Been out of town and offline with little to no trading/charting in the last week or two. Figured I'd take a look at the daily chart so I can set some longer term limit orders until I get back into trading. I could probably explain this chart, the trendlines, and the unmarked elliot and fibonacci analysis I did but that'd take too long. If you wanna see that stuff...
BTC pennant from ATH is coming to a close and is looking to make some big moves. Break above descending trend line could lead to a breakout potentially pushing new highs but a failure to break downward trends could lead to lower-lows.
BTC is been consolidating since its all time high back in december. Now it has 2 options: either breakout to the 12.000 mark or breakdown to the 1.000 mark
Rising wedge on the hourly + bearish RSI divergence, good time to go short We can wait for a breakdown of support which would give us confirmation that the rising wedge is in play profits as mentioned in the graph, TP3 is the uptrend on the daily timeframe Our Stop loss is a break of resistance