I believe that currently the USDCNH is having correlations previous to one of its last breakout patterns and that at the current price, it is a decent entry. I think currently this is mid risk. That being said, everything I say is on an opinion based basis. Please proceed with caution and do your own due diligence. Invest at your own risk.
This is a chart shot of today's video on ETHUSD Today we will take a good look at ETHUSD and what possible key levels to look out for. Right from the long term, down to the short term! I utilise quite a bit of Fibonacci and graphical price action. Would be really lovely to hear your feedback and also have you guys share your views on the ETHUSD! Let me know your...
Spent some time rethinking how I can markup the chart on multiple time frames. Avoiding Red and Green for bias, since old supply can become new demandn and vice versa. The goal was to minimize number of colors I need and relly on line style and weight. And utilizing higlight shades for key areas of interests. I hope others can find this useful.
First off, please don't take anything I say seriously or as financial advice. As always, this is on an opinion based basis. The bull run went too high in my opinion and the current wedge looks like it can receive some steep resistance. I think right now it is at a good level where it is a better idea to not try getting too greedy because just as it went up really...
Hello ! Key points : Accumulation zone Halfway retracement Volume uptrend > volume downtrend Currently, I feel like there's an accumulation going on. In fact, we have some clues that buyers were strong : 1) we see several spikes in volume 2) the bodies of the candlesticks grew wider the more the trend advanced As you can see, we've had a little...
So lately in the TA world I've noticed a lot of people pointing out something similar to this green ascending triangle. To me that triangle looks sloppy at best and I personally believe we are in more of a rising parallel channel like I've outlined in purple. I've had this channel mapped out for a couple weeks now (since about June 3) and it's been filling out...
Here on my weekly chart we have a couple of interesting trend lines. First we have a MASSIVE triangle pattern which dates back to July 2017 continuing to coil up currently. Things to consider is that we have not had a new macro higher high in about 2 and a half years, so that being said we COULD still be in a down trend facing resistance ready to plunge...
Hello ! Key points : Wide range candles in the direction of the trend Pulling back after over-extension Significant support area After a period of consolidation, the double bottom ignites the new trend. We notice how the wide range candles support the trend. On the hourly chart, there's a break of the trendline, a retest and a failed attempt to push...
Hello ! Key points : Pullback in Traders Action Zone Significant support zone Volume increasing Buyers threatening downtrend ("inverted hammer") For more information about the Traders Action Zone, please take a look at my previous analysis ("Related ideas"). The correction yesterday provided us with quite some opportunities. Just as on the idea I...
Hello ! Key points : Significant support zone : That zone has been significant since the stock market crash in March. It acted as resistance, aswell as a small consolidation area (02/06 - 03/06). It is showing relative strength : Considering yesterday's correction of the overall market, the behavior of individual stocks tell us how strong they are. Price...
Hello, Key points : Ascending channel : clear uptrend ignited by the double bottom Breakaway gap + breakout : psychological shift causing the breakaway gap, buyers still strong Halfway retracement : after a breakout stocks tend to pullback halfway Previous resistance = support The double bottom ignites a new trend and creates the ascending channel....
Hello ! Key points : Significant zone : that confluence area around 7.00 seems to be kind of special, as you see on the left side of the chart, everything prices dipped below, buyers started getting aggressive and eventually caught up. Bearish momentum fading : the downward movement seemed to be pretty strong, but again, it lost all it's momentum once that...
Hello ! Key points : The double bottom ignites the breakout Strong breakout, wide candles + high volume to confirm it Breakaway gap, psychological shift Significant support zone (left side of the chart in light blue) Here we are trading another first pullback after breakout pattern. I personally do not short, but this could be a decent short setup from...
Hello ! Key points : Double bottom Significant support area, also on higher timeframes Bearish momentum is over It looks like the bearish momentum that carried the stock price down is now over. That particular candlesticks tells us that an attempt was made to push the stock further down, but it didn't work out. On the 5-min chart, the interpretation of...
Hello ! Key points Triple bottom pattern Price rejection Significant support zone Hourly chart : On that timeframe, we get a confirmation from the price rejection we see on the daily chart. The stock gapped down, triggered stop-losses and panic selling. Afterwards, we see a wide bullish candlestick (kind of "Tweezer Bottom") that has approximately the same...
Watch for a strong close above $1,740 for a potential measured move to $1,900 (prior cycle highs). Set a stop with a close below around $1,680 It is only a matter of time until gold retests highs, for those who are more inclined to 'trade' gold, which i do not recommend, then there is a potential nice bull flag shaping up. -TradingEdge
Hello ! Key points : Breakaway gap Breakout on high volume First pullback Volume sinks The stock consolidates within an ascending triangle, it gets rejected from that significant confluence zone (circled on the left). It makes higher lows but not higher highs, buying pressure slowly builds up, people gain in confidence and are willing to pay higher...
Hello ! Key points : Double bottom Volume on uptrends > volume on downtrends Indecision + rising volume It all starts with the halfway retracement. The stock makes a new low, buying pressure kicks in, drives price up. The halfway retracement is the result of traders taking profits, see how the volume fades ? Anyway, the momentum is not enough to break...