Here on the week by week graph, we can see that cost has printed half of a tremendous night star doji example, and it's a course book development up to this point. Since the start of February, cost has been in an uptrend (pink channel) on the week after week graph. Be that as it may, we printed a gigantic bullish flame after we detonated over the week by week 200...
Have a solid Doji pattern forming on the hourly chart for NYSE:LB
Open interest was at a high for the options side of things. May be a nice run up.
Also ignore the poorly drawn trend lines as im still learning!
We can look for shorts if that weekly doji candle breaks down. If bears are able to successfully defend this key resistance we could see a move down towards 5100. If not a continuation towards 6150 is likely.
DOJI candle at 1 h time frame ….with stocth RSI crossing to up, i think the market movement will hit the 38.20 Fibo line before raising ….and it keep growing till 61.80 % fibo line.
Signal : BUY
Entry :1.13000 ----> Fibo Line : 50.00
Take Profit :1.13477 ---->Fibo Line : 61.80
Stop Loss :1.12750 ---->Fibo Line : 38.20
Simple observation, ETHUSD Case of the DoJi . This pivot has been clutch, will it hold, or revert to the mean?
Moving into a Shorter Time Frame like the 4H, there is a much nicer pivot point to be concerned with - 920 Length Bollinger Bands @ 1.25 StdDv, a period identified through Volatility Theory. Take a gander yourself.
If Volatility Theory or Distribution...
Lets see how this one plays, remember the break of this trend line its the o posit of what we want to look in this entry, If this happen put your tp +2pips in positive to get out of the trade in profit. Good candle doji and twizer tops
Be realistic, in the crypto market you have to look at the bigger picture always, i highly recommend weekly and daily chart, maybe for an execution go to 4H charts, don´t try to extract every movement of the market, in the long term its going to kill you. Just see it like a good time for accumulation. Like one of my mentors said: if you buy something less than 1$...
I've updated my volume indicator to emphasize hammer bars. The usual pattern is:
1.) Hammer bar with wick hanging out in the middle of space. On volume indicator these are colored bright red or green.
2.) Highish volume but low range doji which indicates churning where the bulls and bears actively fight but are not able to move price very much. On volume...
A lot happening with this name.
- Doji confirmation following the hanging man 6 days prior.
- Steep wedge pattern
- Extremely low VIX momentum
- RSI over-extended
- Negative divergences on lower time-frames
- Currently sitting at potential profit taking resistance of Inv. H&S
- Wedge is still intact
- Above 20, 50 and 200 MA on daily
In this analysis I noticed that the graph has a tendency to descend because there is a doji candlestick and an evening star is being formed. And also touched the resistance line and could not pass through.
So I think it's a short sell.
Good luck :)
A doji has performed which gives us a confirmation that there is high potential for a price reversal. In addition its best to wait for the next hourly candle to close as it will give us an extra confirmation and more confidence.
Sell at Market Execution
Trade at your own Risk !
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