I think it's obvious that we had a fake out/ liquidation grab coming out of the rising wedge. Ultimately, this pattern broke down within reason and as expected. I think a good measured move should put us about -$25 out of the wedge, that being around $79-$80. I have highlighted some levels in blue that I think you should watch for, especially if you like to scalp,...
Estimating that Gold is making a Cup and Handle on the hourly chart finishing a micro correction.
Measured move target correlates with Fibonacci Extension 127.2% target around $1680 which I estimate will be hit by March 2nd.
Do you see a bounce here at the former 78.6% acting support?
There is Fib convergence in this area at three layers across both the 4H and the Daily time frame.
Watching out for any consolidation or slow down at or around the 47.80 zone.
This may open the door for a move much higher to achieve a potential bullish Equal Measured Move.
After that hard rejection recently making a lower high I believe we will re-test the broadening wedge breakout (88xx) and that will be a hard buy for a swing/position play. My plan is to ladder in from 90xx-87xx with equal weights. This area is also the golden ratio from the whole move, which is historically a great place to buy in uptrends. Will update with stops...
CGC saw an open and close yesterday below the lower support line of a rising channel(orange lines). Using a measured move on a trendline break, price could potentially see a -25% decline which would roughly equal a -$5.50 loss taking price back down near $16. Keeping an eye on this one today as CGC tends to dictate prices for the entire cannabis sector.
We have tested $126 over twelve times since December 16th.
Yesterday's move closed above this resistance; and we are confirming today going to all-time-highs.
RSI(14) @62.5 showing relative strength but not overbought
OBV is trending higher confirming the move
To set a short-term target. You can measure from the bottom of the triangle and...
I've been accumulating GBTC since $4.28 and as I was looking for the next dip to buy more I ended up with this setup idea that I decided to publish. It'd be a nice swing trade assuming we get down to the entry, though to be clear, this is not financial advice - I am not even planning on trading this other than accumulating more at the entry of $9.85 (will...
Bullish Flags are a chart pattern under the Range Patterns.
Bullish Flag Ranges are repeatable trading chart patterns.
Bullish Flag Range chart patterns will have a long directional bias depending on the previous incoming trend.
Each chart pattern will have defining trendlines of the support/resistance levels creating the pattern.
Whatever time frame you are...
Some of us like me have been trading this coin from the $0.157 levels and based on measured move in technical analysis, IOTA is likely to hit a major target and resistance of approximately $0.300 before retracing to test and potentially find support on $0.2201 comfortably.
NOTE - This is a weekly timeframe so it may take a couple of weeks or less to play...
Measured move leading into daily 377ema (blue line) and monthly pivot point.
Either that acts as resistance or it ends up closing above the yellow trendline there will most likely be a move up to at least the 200sma(green line)
If the daily closes below 7100 this idea is invalidated.
- Not financial advice.
Another day, another descending triangle. I first tried drawing this on the 4hr chart, but without being able to include the support touch-point of December 2nd, I've gone with the Daily chart in order to have a minimum of 3 touch-points on both support & resistance trends, with sufficient time in between. There is an interesting difference between this descending...
The entire cryptoverse is focused on the bullish 1h inverse head & shoulder pattern with a measured move target of $7620 at a time when longs are over leveraged at 83% vs to shorts at 17%. The key bull break pivot is $7400. I consider this a dynamic candle stick pattern with a 2h candle close “hidden” descending triangle (that no one is talking about) with a...
USOIL bears delivered a bearish gap, the first one in a while. Impatient shorts will cover at current measured move target level, which will apply pressure making bulls excited towards 5650 gap re-test. The retest area is a reasonable short with good odds as the context to the left favours bears currently.