Gold has is trading within a huge triangle, with a lower trendline support spanning back to 2018 and an upper trendline resistance spanning back to mid 2020, with a good number of clear rejections of these levels from each.
Gold has just entered the upper boundary again, coming in with a little momentum this time, with RSI just breaking above 70 on the 4H.
USDCAD - Nice looking shark here, completed at the .886 but stayed within the downtrend structure.
Price is currently ranging but is looking like its going to breakout towards the first profit target the 0.382 (Which is again a very strong demand zone)
Here I will also look to take buys if it reaches this level and we get LTF entry confirmation, and if price...
This analysis shows the main factors behind the Short Position opened on the EURO AUD. These include
1. The Formation of Double Tops on the Daily Chart.
2. The Formation of a Pennant Setup on the Daily Chart.
3. The expected move towards major Support within 3 Days.
4. The expected move towards the Pennant Support in 7 to 14 Days.
The market provided a...
There are many possible scenarios in play with Bnb atm.
I still think that in the 1W timeframe it would start the bullish leg to new ATH around 900-1000Usd.
But it is still possible that there will be a long consolidation period because monthly Stoch RSI is still going downward. Consolidation last time with the same levels of RSI took 8 months.
I like the setup I am seeing for resolution to the upside for semi-conductors here. I do have one concern but I'll address that shortly.
On the left is a weekly candle chart of SOXX the iShares semi-conductor ETF. The upward trendline from the covid-crash trough is firmly intact. The 100 Day EMA has proven to be key support. The index started consolidating the...
Price has formed equal highs and equal lows within this tight range.
Could we see the lows taken first before we bounce off the demand to tackle the liquidity caught higher?
It seems likely.
I will trade this pair either way, depending on which zone rejects first.
Good luck traders! 🏌️♂️
* Exceptional earnings quarter over quarter
* Incredibly strong up trend over the long term
* High 3-month relative strength of 2.87 in the Tech sector
* Pays out dividends
* Breaking out of a base on base pattern
* First base lasted ~8 months before breaking out
* Second base formed immediately after the breakout and has been forming for the past ~9 weeks
A pattern of higher lows and lower highs constitutes consolidation. I am looking for a break of the swing high or swing low to trigger a trade here. Given that the consolidation is so wide, we have a lot of room to work with. Trading above 285 will likely result in higher prices (thinking 315) while trading below 255 will result in lower prices (thinking 215). For...
Today I am with another cryptocurrency which has more than 100 days consolidation. I think KUCOIN:ARXUSDT is in accumulation phase and I am expecting 600% return after it gives breakout from this long accumulation phase. Also it looks like ARX is forming double bottom pattern with second bottom is higher than first bottom. Leave your opinion in...
Looks like KUCOIN:FLYUSDT is ready for trend reversal. I am expecting 300% return after FLY gives breakout from more than 100 days long consolidation. It may move side ways for couple of weeks before breakout, be patient.
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Piramal Enterprises Ltd is one of India's largest diversified companies. Its businesses are divided into two verticals i.e. financial services and pharmaceutical business.
On short term analysis of chart, a very clear downward moving channel is identified on candlestick chart. Stock has near the upper end of the channel and is also forming triangle pattern.
The IWM as seen from the chart has been forming a solid and strong Inverse Head & Shoulders.
An Inverse Head & Shoulders is a strong Bullish Chart Technicals Pattern, that can be seen here. 2 Shoulders, and 1 head in the middle, making the low.
I am sharing this idea, as it is a pattern which has been printed on the Russel-2000 this past week, and can't go...