Lead-in: angle not too flat, not too steep - visual assessment okay (scale varies, ~25-50 degree angle for reference) Bump: angle should be ~50% greater than lead-in angle Bump validation: distance from bump line to highest high should be at least 2x the distance of lead-in line to highest high Reversal: look for top patterns and descending peaks Run: once...
I was watching KHC since it hit news streams with eyes opening 25% drop opening waiting for it to show some strength. I believe daily chart and weekly as well finally giving us a signals to go long or even invest into Kraft Heinz Company longer term. We can see on a chart stopping volume on a gap opening day. RSI divergence on daily and RSI going above 30 today. A...
TAP has all the requirements to be a a bearish shark harmonic pattern except for point D has not been met yet. TAP has also broken out of its 2016 downward channel after making a double bottom. The neckline of the double bottom is currently being tested as confirmation. Plenty of momentum on the weekly timescale for TAP to continue to point D. A short sell at...
CVNA is in a falling wedge and failed to hold above the 236 from ATH to recent swing low, super bearish. Daily bearish divergence playing out on the MACD, RSI showing continuation of the bear trend. VFI is super bearish indicating low money flow. All on daily time scales. There is weak support at 27.65, with major supports being both 23.60 and the bottom of the...
Following confirmation of a head and shoulders top pattern the QSR stock price could be in for a drop to around 47, with a volatility stop loss around 62.
Following confirmation of a head and shoulders top pattern it looks like the price is moving up to test resistance one more time before I forecast the price will plummet to a target around 662, with a volatility stop placed around 855. This forecast is supported by high RSI. Wait for confirmation of the price showing signs of dropping before entering this trade.
In the next few months the price of Dollar Tree DLTR stocks could rise by about 9% following the Bulkowski's "Big W" pattern. Target is around 94. Stop at 74. Let me know what you think in the comments. Hit like to share this with more people.
THIS IS WHAT HAPPEND Also look at the chart below proving I saw this coming
Hey Traders, Bulkowski's Big W is in play for Bitcoin and we could see an exciting September rally! I've entered a position for Bitcoin and will ride it for September. If we break our previous low I will take the loss, because at that point the Bears have more control. I'm still learning to trade this market, most of my learning is trial and error along with...
The BTCUSDSHORTS chart historically has been a good tool to look at Bitcoin's overall health in the cryptomarket. When BTC acts bearishly, BTCUSDSHORTS shorts go up. The inverse is also true - when BTC acts bullishly, BTCUSDSHORTS go down. Naturally shorts skyrocketed at the end of the great FOMO, with positive momentum lasting until April. However when BTC...
A few days ago I wrote about XRP forming a very nice sharp downward sloping bull flag , indicating seller exhaustion and a potential nice break to the upside to the 55 cent area. XRP did wind up breaking out, and on even greater volume than the previous two pumps. Unfortunately, BTC hit a wall that day, creating uncertainty in the general market, and soon after...
We have formed the bottom of a Bulkowski's big w pattern, with a bullish pennant forming (continuation pattern) so we should see a step up from here and complete the W pattern. If we follow the W drawn on the chart, we are expecting to hit all targets within 28 days. ETC BUY: 0.0026 down to 0.00245 SELL: SHORT TERM 0.00274 0.0029 0.0031 0.0034 0.0037 LONG...
Pharmaceuticals can take nasty falls if their products fail to pass FDA muster. These falls can provide nice opportunities for swing traders to play the gaps that are left by these sharp moves of price action. Lipocine Inc (LPCN) took a nasty dive on the 8th of May, leaving behind a pretty nice 31% gap that will eventually get filled. Since the drop, LPCN has...
It looks like BTC is wedging up (teal triangle) after it broke out of the symmetrical triangle. Rising wedges are trend reversals, and are more valid in uptrends. BTC looks to have also double topped (1,2) which is also signaling a reversal. We are also seeing positive momentum drying up on the MACD and RSI oscillators: Buyers are getting exhausted, and...
Yesterday I wrote two possible scenarios of what may happen to BTC, the 2nd scenario played out. We witnessed a really nice clean hook and go off BTC. It tweezer bottomed twice on the top of the symmetrical triangle, utilizing that area as strong support, failing to even dip below to use that level as resistance, and it broke out nicely on even greater volume than...
BTC is consolidating healthily after a ~10% pump two days ago. At that time I also wrote about a false breakout of the rising wedge, and the probability of a symmetrical triangle being formed instead (teal triangle). I believe ever more strongly this is the case. The rising wedge had failed to make it's measured move of 5600, stopping short and double bottoming at...
BTC is on the verge of breaking north out of its bull flag. It has hit the bottom of the flag multiple times on the 1hr, and formed a nice bullish tweezer bottom reversal (red circle) on the 4hr with a bullish RSI of 64.
As with many altcoins, VeChain looks to have broken out of it's huge falling wedge, but not by much and on low volume. It is currently flirting with the top of the wedge and using that line as support. A bull flag pennant has formed on the 1hr indicating that price action is currently neutral. A break out can go either way. If it breaks down negatively, the...