Now that I'm trading more actively, I am very tempted to get out of my long position in Tesla and free some capital... So I decided to draw in my lines and see what they told me.
After doing so... I don't see how its possible to get out of this stock. My gut told me to sell when it had been simmering at the top supply area for so many weeks... and I did not....
“Correlation statistically measures the strength of a linear relationship between two relative movements of two variables and ranges from 0 to 1.”
In general, assets with a correlation above 0.5 or below are considered to have strong positive/negative correlations. Conversely, a close-to-zero correlation indicates no linear relationship between two variables, and...
The One Chart Pattern That You Must Trade
What's a "first pullback"?
This is just the first pullback after a significant price event. For example:
- The first pullback after a trend line break.
- The first pullback after a breakout.
- The first pullback after break down (short).
- The first pullback after any wide range candle.
- The first pullback after a break...
As individuals, we face decisions every day that implicate saving money for a future use or borrowing money for consumption. If we want to make an investment, one important task for us is the analysis of transactions with present and future cash flows. When we place value on any asset, we are trying to determine the worth of a stream of future cash flows.
Money...
Prices are approaching support where we could see a bounce above this level. Ichimoku cloud and EMA are showing signs of bullish pressure as well, in line with our bullish bias.
As stated before, the recent sell off was nothing but a corrective wave and I was calling for buys when everyone was selling..
I am not saying the market will collapse now but if does then it makes sense and there is enough evidence to support it! On the other hand, more ATH's still makes sense too! It's all about assumptions, biases and having a set up.
My...
In this post, I want to go over a strategy that beginners can implement with any asset or commodity that have solid fundamentals.
Disclaimer: This is not investment advice. This is for educational and entertainment purposes only. I am not responsible for the profits or loss generated from your investments. Trade and invest at your own risk.
Explanation
- A...
What is a Retest?
Retests in the Forex market come in all shapes and sizes. They can come after a market breaks a key horizontal level of support or resistance or a breakout from a wedge pattern.
Market Dynamics of a Retest and Confirming Price Action
(Review) Definition trend and change of trend ( Trend reversal)
EX:
Discussion:
Downtrend - Definition
A downtrend comprises a repeating sequence of:
1) A downward extension
2) A swing low
3) An upward pullback
4) A swing high
A downtrend ends when price breaks the swing high which leads to the lowest swing low of the trend
Uptrend - Definition
An uptrend...
With all the talk about how "hot" the US economy will be in 2021, I was curious to see what has been happening elsewhere. I selected market indices that are comparable to the Dow Jones and charted performance since 2020.
The UK has struggled the most, with Brexit issues adding to pandemic recovery. Europe has just recently crossed over the white line and if it...
I have recently had some questions on some of the basics such as moving averages. First of all, there is some great free content out there via sites such as Babypips
I wanted to share some simple info to at least explain what a moving average is. Where it is used and what are the types of.
Moving average is a simple, technical analysis tool. Moving averages...
We are watching a capitulation of long dated bonds in real time. Today's huge gap down of -2% breaking last week's lows is actually perfectly in line with TLT seasonality for the past 16 years. This is no coincidence as the March 2009 - March 2010 sequence in bonds is very similar to the March 2020 - March 2021 sequence. The Q1 FOMC in the 3rd week is usually a...
The five stages of grief are an ever present reality in life. A loved one passes away, or you suffer through a heart break, you will most likely go through all five stages:
Denial
Anger.
Bargaining.
Depression.
Acceptance.
Going through these stages is a healthy way to cope with loss or a painful event. Financial pain is one of the...
Today's bullish breakout is a new historic milestone for Bitcoin!
Indeed, this breakout eliminates the threat of a double top at $ 58k
AND it validates a "Cup & Handle" pattern with a target at $ 75k !
The rebound on the 60% BTC dominance threshold has indeed taken place, see my 1st related idea.
Also, I have already demonstrated to you several times the...
1. Go online and connect with other traders, ask the right questions (keyword: right) and talk shop. Joining TradingView is the best decision I made by far since I started trading. Social networks add value and my trading has improved a lot by being exposed to different ways to trade and by being able to see what works and what does not. But never trust a trader...
A small guide, for new traders, on how to use their Basic plan to watch the market indexes and the stocks they own. ___
Prompt: New traders should take some time and carefully read the post entitled 'You can't beat the market' that is located in my profile.
Disclaimer
The author of this text is not an investment advisor. The preceding content is intended to...
Grayscale, one of the largest crypto asset managers, announced on Twitter this week that Bitcoin accounts for 36 billion USD of their holdings in the crypto space. Another bitcoin exchange-traded fund (ETF) was listed on the Toronto Stock Exchange on Tuesday. According to an announcement from provider CI Global Asset Management, regulators have approved the final...
As we made a lower-high compared to 58K. We started to see drastically reducing Open Interest & Volume despite the price rising. Normally if price is going up on low volume, it just means sellers aren't interested in the moment, but when combined with a dropping OI level, it normally means the price is experiencing a weakening bullish trend and a dip or...
