Since it began trendng more than a year ago from July 2022, NFLX has a tentancy to correct back to its rising trendline every 3 to 6 months or so.
As at its close @ about 400 yesterday, it has already corrected 50% from it's recent AB swing. Whether it will find support here remains to be seen.
Another 5% downside from here would bring it to 380, which is...
DIS has tested it's long term horizontal support @ 79 and it is holding so far.
A potential bullish divergence is also seen on its monthly chart which increase its odds for some upside bias for the next 1-3 (monthly) candles.
The caveat for divergence is that it only signals a (potential) short term trend reversal, lasting on the average 2-3 candles and does...
Hi Traders, the price now above support with stability above 1.44500 level as we see the price broke a middle of correction channel with 0.5 fibo, the genral trend is up we search entry , i think this a good entry
USDINR: it used to trade with 97% precision in regression channel trends,
which is now decisively broken.
The current candle seems more like a temporary pullback and the Indian currency might witness strength in upcoming sessions.
only believing charts, I would be comfortable having a short stance for target 79.95
AMZN came into a potentially strong support zone 79 - 84 comprising of a horizontal support area as well as the 88.6% fibonacci retracement of the major covid upswing AB. Some bullish divergence is now seen on it's weekly chart hence there is a good chance that this support of 79 will hold in the near term. However, any bounce from here must still be viewed as...
AAPL had been the most resilient among the FAANG stocks despite being in a volatile and toppish pattern for months. However it started to break below major neckline support @ 134 on 19th Dec and then an attempt to break the horizontal support @ 128.
It managed to close the month with a weekly bullish pin bar above 128 and a potential bullish divergance is also...
Going to keep this simple. We have a touch on the bottom of the descending parallelly channel, a major horizontal support line, and the golden pocket. This is a very bullish setup for TSLA to bounce. Stops should be placed below golden pock with the right position size and risk management to protect your account incase the bears manage to push the price through...
Hi everyone, in this analysis I will explain why I opened short position when BTC was rejected at 17.4K level which was upper band of rising wedge/diagonal resistance and 4h 200 EMA. Before that I noticed ABCD pattern which started forming at 15.5K swing low in 22 November/ A point/ and finished at 17256 in 01 December/ D point/. BTC rejected at the mentioned...
TSLA is now at a longer term horizontal support zone (168-180), after having retraced 61.8% of it's major AB upswing that had begun in March 2020(see monthly chart).
A short term bounce looks to be due as we are now seeing a bullish divergence between price and RSI on it's daily chart, but whether this is "THE" low remains to be seen as the overall trend is...
Since Covid Bottom Level, market has taken 135% Bullish Rally until May 2022.
It has taken correction up to 22%.
It may retrace from any fib level.
H&S formation is complete and correction may lead to it's target.
However, a strong horizontal support will be help retracement.
JPMorgan Chase
Intraday - We look to Buy at 109.10 (stop at 104.26)
Short term momentum is bearish. Bespoke support is located at 109.00. Price action continues to gravitate towards crucial support levels with aggressive selling interest. Support could prove difficult to breakdown. We therefore, prefer to fade into the dip with a tight stop in anticipation...
This count is based on my assumptions so anything can happen not a trading or financial advice just for educational purposes only kindly do your own ta thanks trade with care good luck.
I'm looking at daily timeframe, BTC has broken daily 34 EMA, and now it is fighting against horizontal resistance at 22.3-22.6K. if BTC succeeds to break it then pink and green scenarios will play out. More likely they will.
Of course after breaking the mentioned resistance everybody will open long and wait for 28K, but we' it reaches to 24-25K/ a horizontal...
There are lots of ways to trade the market but the only indicator that will help you in all types of market is Price action
first tool is horizontal lines go to different timeframes based on your trading time if you do intraday trading go to 1hour
and 15 minute for swing trading go higher time frame and draw a horizontal line on important levels where market...
This idea is pretty simple. During a powerful uptrend price can spike up before pulling back and going higher. If price action spikes back down into the previous spike up there is fair chance for a V recovery and higher highs. The price action was volatile on the way up and was volatile on the way down so the pattern suggests a volatile recovery to the...
- It is a common thing to test the previous all time high (in this case from 2018) on the weekly chart.
- Last weekly candle has a huge wick, which is definitely a good sign for all bulls!
- 200 moving average is a strong support and the price is currently sitting on this level, which provides us with a good buying opportunity.
- 0.382 FIB retracement is also a...
