Island Top in play almost exactly similar to January 1994 Platinum.
Wait for an inverted Hammer Doji at the end of the downtrend to confirm the reversal.
in my opinion, if no manipulation happen this is the healthiest way to break the 8K resistance and the beginning of 12K scenario.
Yesterday LTC closed with a doji.
Today it will close with an inverted hammer, still 30 minutes to go.
To me it looks like a bullish signal. There I will long BTC.
See the mark for the target. From there I will move my SL to my first target.
Let me know if you agree with my TA.
Long trade to 1300 level worked and as expected we saw a pull back from 1300 area back to 1284. Price closed weekly below the 61.8% fib level and formed an inverted hammer with a long upper wick, could be a sign of reversal. Price is still above the broken yellow uptrend line. Next uptrend only confirmed by close above the 1300. If you did not short at 1300 area,...
BATETH on Binance, 30m
1. Support trend line
2. Resistance trend line
3. RSI indicating oversold
4. Inverted hammer candlestick formation signaling possible reversal
5. Confirmation candlestick following inverted hammer to confirm trend change
6. Fibonacci levels to identify potential sell point to take profit
Watching the charts this morning for an early...
Let's start with the weak buy volume during the most recent move up from 182 to 191. Inverted red hammer on daily with decent bear volume grinding the top of BB. KDJ indicator show weak rsi overbought conditions. Macd showing little volatility. Volume is drying up. I suspect a breakout soon and more likely down than up. Watch out for fake out with no bull volume.
Taking a quick look at the Daily to get an overall view on how we are traveling and it looks like we may have a pullback on the cards over the next week, we have a fairly high volume inverted hammer, with a fair amount of selling pressure over the last few days. Taking a look back over the chart you will start to notice these candle patterns quick...
We see from our Ichimoku that there is indecision in the market. Chikou span is under price, and Kijun sen is on top of price. Both of these indicate the trend will need more steam if the bulls want to hold this uptrend today. Tenkan sen indicates potential market trending. Senkou span A&B are acting as resistance and have been widening as volatility...
The Inverted Hammer is comprised of one candle. It is easily identified by the small body with
a shadow at least two times greater than the body. Found at the bottom of a downtrend, this
shows evidence that the bulls are stepping in, but the selling is still going on. The color of the
small body is not important but the white body has more bullish indications than...
The bearish trend on USD/JPY chart is weakening. You can see a hammer candlestick on the 105 area, testifying that it is an important level of support. The options are two now:
1) a momentaneus market range in which the 107.850 level will be the resistance.
2) the breakout of the resistance above caused by strong bulls (such as positive NFP datas) with a...
Not to much new to update form yesterdays video... I still believe litcoin will pull back to the area mentioned in the video, presenting sub $200 buying op.
The video really covers candle stick pattern that played out in my opinion across four (4) timeframes... possible 5 depending on how the day closes out.
I hope you enjoyed the video......
What the chart is showing us:
- AUDUSD approaching resistance at the 0.7700/50 levels
- Friday candle closed and formed an inverted hammer
- RSI just about touching the OB levels
- Completed a Harmonic bearish Bat pattern
Potential targets down at 0.7500 (support/resistance zone)
Let's see how the price moves at the start of the week