Fifth consecutive black candle...The 61.8% Fib ret @ 0.00003702 has already been filled with an intraweek low
@ 0.00002915 reached last week.
Global picture does not smell good !!!
Indeed on this time frame the pressure remains to the downside !
In an ongoing downtrend move; below the clouds, the Kijun-Sen, the Mid Bollinger Band and the...
We need a weekly chart perspective on days like this. Looking at this weekly chart for 1 year of the QQQ we are still above the Lower Support level which is at about $360. A conclusion of this pullback could easily take us to the $360 level before this week is out.
TESLA. The fast stock and the fast to drop. Tesla is about the drop with everything else.
Tesla is not worth the current value and the value is pushed because of the moneyflow from state not sales.
Keep that in mind.
Price movement range will be kept between 42K and 30K until one them get break, Bitcoins overall trend is Bearish as long as it is moving in this down trend channel( Broke of upper channel line is needed).
Strong resistances are on the way of Bitcoin, Hope to see strong support around 30K
Here is an update on Bitcoin on the 8 hour chart of Bitcoin.
The head shoulder formation is still active and intact. The neck line is slightly more accurately placed now.
As I mentioned earlier, violent pullbacks are quite normal in this volatile market. In the process, a Demark 9 buy signal for the short term also came in.
I am still bearish on...
The right time to short $CAR?
Finally, the trendline has been violated after an Evening Star Pattern formed on the daily chart.
We can clearly see that this stock has been on a strong uptrend since the pandemic, and has almost doubled from the pre-pandemic high ($52.90). Meanwhile, AVIS BUDGET has not been fully operational, sold a big chunk of its fleet and...
I wouldn't go long here yet. Wolfe projection suggests tar price in box between 3700 - 3810. After that; to the Moon.
Overlay from October correction second wave fits this one pretty well so far. Sell the rallies! GLTA!!
Based on previous price moves, these selling waves last from 3-5 days sessions. Yield inversion has tanked techs, selloff could intensify.
(overlay from 2-5 Mar)
BUT; If this holds, expect a smallish bounce 19 Mar, more selling on 22 and pivot to long entry on 23/24, as it did last year on those dates.
NOT investing advice; trade at your own risk! GLTA!!
Hope everyone is good new week new opportunities, Here's a look at the EURO / DOLLAR from the 2H chart.
* looking for continuation patterns to the base of structure so will be watching price and looking for a completion of the double top formation.
* The pair is currently trading in a descending channel looking for structure to...
SHORT WHEN REBOUND UNTIL 2790 HIGH IS BROKEN...
higher resistance : 2860-2900
resistance : 2760-2790
current support : 2670 - 2630
lower support : 2560
RISK DISCLAIMER : this is juz a trading idea...trading stocks, futures or forex might incur a huge risk to your account/funds…DON’T LOSE MONEY THAT YOU CANNOT AFFORD…any idea(s) of trading...
Theta continues to trail down as those that were hanging in for a miracle begrudgingly take their medicine and exit.
Question is, when will it come back?
Those interested will be watching for a break from the trend or support coming in from those waiting on a decent entry position.
(Cautious on any entry's here as some might be waiting for their chance to exit...
Slow day trading today due to a couple bank holidays and this has been shown in the gbpusd pair with very small movement over the day.
Im still expecting the pair to short this week with possible support at the 1.208 failing to find support at this area we could see a very bearish market heading lower to the 1.190 price.