Previous cycles from mid-cycle low to blow off top took approximately 150 days each time, price moving in two waves before reaching "lift off" a pullback 35 days prior to the cycle peak.
We broke 2 of the most important resistances.
The price is set to broke ATH end of October or first days of November.
Currently, the price is in wave 2, ABC correction.
The correction phase I suspect to 9.20USD
Should the price fall below the 9.20USD would still be a support at 6.10USD to expect.
At 9.20USD or 6.10USD I expect the beginning of the impulse wave 3 which could rise between 44.10USD and 65.21USD.
My primary target is here at the 62.21USD, from there I expect...
SP500 has been growing nicely for more than a year. And that is how long the market hadn't tested the previous month's High. For the last 12 months, the average micro-correction hasn't even approached halfway to the previous month's high-low range. Now, it did and with style. Although it recovered fairly quickly, it is now back near the initial takeoff price and...
3 factors are telling us about selling opportunity!
1st, The linear regression (in the case of trend and over bought)
2nd, The Resistance
3rd, The high volume candle breaks the lowest low of the last 24 candles previously!
In longer term analysis we could see a strong Support! But I don't believe it will effect our medium term analysis in this case.
I have been in a bit of a time crunch lately and realized that I made some mistakes that might not have mattered to someone that understands technical analysis, however it would completely confuse a beginner. Since, I assume I have some beginners here, I decided to take some extra time out of my day, slow down, and explain what I see properly. This way, it will...
Due to it being the start of the week, ADA's volume has returned, and with it, brought the possibility of a price movement. Like I said before, we got a retest of the 200MA which is often accompanied by a nice little bounce. I figured this, along with the volume, would create the momentum it needs for a ATH test. We are getting to the end of our ascending triangle...
ARKK making a strong name for itself after the Jackson Hole meeting. Are we nearing the breakout point or will we continue to see more waiting and what will ultimately happen with the ARKK index at this juncture? We will see! Good luck traders :)
Today we are witnessing a sharp turn around in Emerging Markets $EEM after the Jackson Hole meeting. $IWM a strong indicator of risk tolerance has seen a sharp move back up into it's middle pivot. Could the continued low rate environment and strong economy be enough to continue the rush into risk-on assets? Keep a close eye on $EWZ though (Brazil ETF in which PAGS...
Solana (SOL/USD) the 10th-largest cryptocurrency by market capitalization, with a total market cap of over $21 billion reached a new all-time high of $81.97. The rally is showing signs of a slow down after it rallied more than 120% since the beginning of the month.
Equal Waves Pattern
From a technical perspective, SOL/USD has rallied in a three wave pattern...
Hello traders and investors!
Today we will talk about stocks, specifically S&500 against GOLD (SPX/GOLD ratio chart), in which we see an interesting development we want to share.
As you can see, stocks remain in the strong uptrend and there can be room for more gains, we just have to be aware of another, higher degree correction as S&P500 is approaching 2018...
PYPL made a new all-time-high in February of 2021 and now it's looking to make new all-time-highs.
* Sales growth quarter over quarter is more than 30%
* Earnings-per-share expected to grow +5% over the next year
* Beta score of over 1
* General up-trend
* In rage from year-to-date
* Found new support at $289.46
* Steady volume as...
FAST is trying to break through and close above its recent all-time-high of $54.31.
Good news is that it's holding its previous all-time-high of $51.89 as support.
With buying pressure slowing down it may come back down to retest the $52.50 to $53.10 area as support before making another attempt at breaking and closing above $54.31
* Strong up...
As you can see from my chart, I use the EW-theory to forecast. In the case of gold, I assume that the correction has ended after the sharp rise of the last few days. This is an extended flat correction in which the required parameters have been perfectly confirmed. In fact, I assumed such a correction in advance because the momentum was heavily on the...