I do not do manual analysis on anything. Instead, I develop methods to do the analysis. This way, we can be free from bias, and we measure things objectively.
Having said that, purely statistics based analysis does not take into consideration recent news events and other economical or political impacts on the company.
I developed this method to measure the...
EURAUD is currently BULLISH but this is a weak one because we are trading on a EMA score of 2 which signals reversal so now we are positioning for a SHORT.
(Reason - D1 is currently exhausted and needs correction, possible DIV if HH happens and of course the EMA SCORE)
// #1 ENTRY (Risk Entry, Good Reward) // -: Even if we are looking for SHORT here, I believe...
We do not need algorithms to spot the patterns when they are so clear.
SeaPony bullish pattern already hit entry
Falling wedge forming diagonal wave?
Converging triangle ready for breakout.
Zigzag is my favourite technical indicator. Usage of zigzag is often misunderstood. People try to find tops and bottoms and complain that it repaints. Well, zigzag is supposed to repaint its last pivot and it should not be used finding tops and bottoms to enter and exit at the right time. Then, how do we use zigzags?
Main application of zigzag for me is pattern...
There are two contracting triangles on the chart. Both broken downside. Now, lets see the historical results of trades based on contracting triangles on bearish side for BTC on daily chart
Based on this,
Probability of price reaching 25300 before hitting 42700 is 30-33%
Risk reward for the bearish side is 0.64
Probability of price reaching 18903 before...
Highlights
Regular deep pullbacks and recover to ATH
Consistency in number of days to reclaim ATH and extension to new ATH.
Broken downward trend line. Under the support of lower pivot trend line. Also broken last resistance derived from double hidden divergence.
Lastly, clear double bottom and broken neck line.
Brief glance on historical deep drawdowns and recovery timelines to ATH from BABA. Recovery time is generally slower and took 1.5 to 2 times more than going down.
Conclusion: Don't be in hurry to buy the dip. There will be enough time for recovery. Wait for better confirmations.
Very similar to yesterday's post on PYPL. Similar methodology and tools used.
Disclaimer: I do not hold FB and may not hold going forward as well. Massive price drop on earnings prompted me to dig a little more and do this analysis. All the methods are derived from free and open source scripts aimed at finding statistical and fundamental edge.
Point of this...
! Disclaimer: I do not hold any PYPL and may not hold them going forward as well. But, 17% drop over earnings got my interest into having a look into fundamentals. Please note all the analysis done here are derived from the scripts I have written - all of them are open source and free to use.
Let's dig deeper.
🎲 Earnings
News items highlights poor earnings and...
Negatives
Broken trendline
Unhealthy trend over past two years
Bearish sentiment over increase in interest rate
Positives
Just above a critical support area
In potential reversal zone
Too much bearish sentiment and possible exhaustion
Probabilities
If drops below 15000, can slip another 1k
close above 15350 either today or tomorrow...
Really interesting scenario where hourly timeframe has complete opposite trend of daily
If you look at hourly chart,
Clear visible downtrend channel
Price is just below upper trendline of downtrend channel
Multiple bearish patterns suggesting downward price movement
If you look at daily chart,
Clear visible uptrend channel
Price just above lower...
Daily Chart - Bullish Sentiment
Broken resistance
Broken declining pivot high trendline
Bullish Gartley pattern setup - but already have run up to target 1
Hourly Chart - Mildly bearish sentiment
Seems to be rejecting under horizontal resistance
High volume on previous extreme candle - may signify temporary exhaustion
Bearish Harmonic...
