$SPY has me on the edge of my chair here on the weekly and boy is there lots to review.. Let's start with where we left off last time.. The INVERSE HEAD & SHOULDER is still in play, I know, I sound like a broken record, but it's true, not broken, and we closed the daily on the $390 support level to back up this theory. (Green Outline) represents a BROADENING...
ABNB has completed the formation of an invert H&S bottom and looks to be on the verge of breaking up. Will it happen? When it does breakup, it is normal for the stock to retrace after a few days to retest near the neckline (which ideally should then become the new support). If and when this happens, it will present a 2nd opportunity to stake. Theoretical...
#USDT.D The dominance of USDT is inside a descending channel, and below the upper line of this channel. also as you can see it shaped an inverted head and shoulders. 🐮 the neckline of H&S pattern is the same with upper line of channel, so breaking out from this resistance can increase dominance toward resistance zone around 8.5%, that will cause more fall in...
Look at the daily candle for 13Sep and you would have no idea that U.S. markets tanked on the same day. This is relative strength, and it shows in today's price action as well (see smaller timeframes). There is a recent inverse H&S pattern, shown by the peach zigzag arrow. In order to move higher, buyers must move price over 304-305 (volume shelf) and then...
PT's are labelled based on chart patterns. - MMU (measured move up/ ABC) - Bull flag breakout imminent and the PT breaks the neckline of the inverse head and shoulders. - A break of the neckline of the inverse H&S gives us the PT based on Thomas Bulkowski's statistical work. It is also important to note that the MACD crossed to the upside on the daily and the...
We are in the middle of the crypto bear market. Altcoins like SHIB, ADA, XRP, SOL, DOT, and LINK are going to crash hard. You really don't want to buy these coins at this moment. I think Shiba doesn't deserve to be ranked at #13 on Coinmarketcap with this terrible price action. Yes, we had a massive pump that lasted only 30 days in 2021, but now we've been...
#NEAR/USDT $NEAR shaped an inverted head and shoulders pattern. 🐮 if price hold the previous low at $4.088, the right shoulder is completed and price can head up to break out the neck line and rise as high as head. 🐻🐮 I think price can have another leg down to make the low of right shoulder around $3.9 which is around parallel trend line of neckline, then...
We can see that priceaction is currently attempting to both test the top trendline of the symmetrical triangle (in chartreuse) as well as trying to climb back above the 1 day 50ma(in orange). If price action can flip the 1 day 50ma back to solidified support then it can validate the bullish breakout from this symmetrical triangle. The breakout target from that...
OANDA:GBPUSD GBPUSD failed to create a new lower low, forming a reverse head and shoulder pattern. Should price break above previous lower high, it will give us a bullish setup.
No confirmation yet but it’s looking quite bullish *not financial advice*
Potential inverse head and shoulder MA 50D Support at bottom
BULL 1. SPY had an incredible bounce yesterday printing a bullish hammer at the $390 level which is a huge area of support. Inverse Head & Shoulder is still in play. 2. The RSI has created a bullish divergence (might be temporary - see bearish view). 3. MACD has started curling up after the big corrective decline. 4. Stoch RSI is and has been negative...
Great news for all Litecoin hodlers and traders! As per my technical analysis, this downtrend established in 2018 has finally finished! This is the LTCBTC pair on the weekly timeframe. It means that it would be better to hold LTC instead of BTC. But there is no guarantee of the USDT value of your holdings. Regarding my Elliott Wave analysis, a major impulse...
Inverted H&S pattern The right shoulder arm is yet to form, this is when we can expect bullish results on this Weekly timeframe It may even escape this huge horizontal range shown with the horizontal line Very bullish pattern
Specifically looking at yellow here, although purple, larger pattern in the making may play out as well with a large rally into the end of the year. With media barking about how September is such a poor month for stocks + a lot now baked in post-Jackson hole meeting, I could see a large rally begin soon into SPY 420ish (5.82% move roughly). Potential of a higher...
Potential head and shoulders on the FRA40. A lot of news and inflation flying around, this might also just drop? I'm looking for the price to go back to the 6664 mark, might be a potential double top pattern.
Clear Inverse head and shoulders for GBPUSD. If british pound reverses then it can hit 1.7.
Very simple, and early, but in no way guaranteed. Implied Move to about 24K on this, should it play out. 8-hour Time frame. Just throwing this out there, and playing it with very modest stakes (unlevered) small long. I know I have a previous elliot wave study pointing further down, but markets don't move in straight lines, and both ideas are valid until they...