Speedlines are a technical tool that uses the principle of 1/3's (Fibonacci %s) based on the previous uptrend or downtrend. Price is measured at the peak of the uptrend by drawing a trendline connecting at least 2 points. Once The trendline is broken the next correction or break should occur at the next price point equivalent to 1/3 the distance traveled. (258...
Over extended. You can wait for a HH or a break and retest just below the .77 handle (yearly open level). Happy Trading !
Hello fellow Traders, We are looking at the BLX chart on the Weekly to establish a long term directional bias for Bitcoin. I trade using David Halsey's Measured Move trading system. While this system is just Fibonacci retracements, the "special sauce" behind this system is how the pivots are chosen for those Fibonacci retracements. This system has a...
$abnb AirBnb retracing from its highs and POTENTIALLY finding a new trend. Also some attention grabbing repeat buying of 1/29/21 $200 calls on the option flow today.
Price is currently very near measured move target out of the pennant pattern breakout. One could reasonably expect some noteworthy profit-taking right about these prices. Just saying... :)
Another stock that is stuck in a symmetric wedge or if I say pennant pattern also. For long play, once it breaks above the wedge, it can move to ~ 41. To protect losses for long play, the red solid line should be treated as a stop loss. Also, it's holding 20MA (green line) which is giving it a bullish sentiment. Disclaimer: I"m NOT a financial advisor. All...
NIO is trying to clear its resistance 54. Once it's clear it can go to the 70 ranges as per the measured move.
Bloomberg: Biden has outlined plans to spend $2 trillion on clean energy as part of his economic recovery plan. Europe has a global advantage in so-called green tech and the region’s solar and wind energy leaders would get a major boost from a “blue wave” of Democratic victories. Technically: Measured Move Up and the target as mentioned.
$GC_F GC1! Gold Futures is showing that bulls, at least in the short term, want to attempt some movement. If that is the case, then I want to see them complete some objectives before shorting so they are mostly out of the way.
I expected price to show some rejections from 11150 area and it played out well. We have break below the previous low or local support. I am expecting price to retrace around 10625 area for another short set-up. It is less likely to test 10742 but we should consider it as another level of resistance. Possible targets for bitcoin are 9300 area as you can see...
The $SPX sell-off from September 2nd highs, created a consolidation range (orange rectangle) from $330-340 approximately. Making a measured move, with the consolidation constituting a half-way measuring flag structure (blue arrows). 100 exponential moving average is now the trend support, coincidental with June highs. Unfortunately, this is not a support trend...
GBPCHF Target Price 1.17521 and 1.16518. See August 23, 2020 Trade Idea
Contect for the Resistance at $12000 levels is very good. Wedge, Measured Moves Based on Height of Trading Range, Bull Breakout. When did you see 2 Bear Bars Closing below mid point and this much big bear body in last 30 Days ? Bulls have taken profit at the Resistance. I can say that Bull Trend is Over, We can see Trading Range or Bear Trend. With good...
Head and shoulders registered. Measured move down to 78.6% Fib (about where thick orange daily 200 SMA line is at -- Note that this chart is the 3hrly , showing excellent confluence between my Cyber Ensemble Buy/Sell signaling algo at this timeframe for this chart). Not necessary if it will be fulfilled, but will start cost-averaging if it hits about 61.8%...
Technicals IHI is breaking out of a parallel channel with an RSI(14) = 69. A measured move to continue to a new channel, would take us to to $322 approximately. A close below $285 would negate the current up-trend. News ABT has come out with a COVID-19 test kit, which reveals the result in 15 minutes; it will cost around $5.
SETUP 1 SHORT TRADE Enter with 1H Candle Close below Bear Flag Bottom SETUP 2 SHORT TRADE Enter with 1H Candle Close below Support level @ 1.8056 Measure TP for both trades @ 1.7976 SL above Swing High
I think Gold could blast up, bypass $2000 landing on $2100. This is a highly speculative play but I base it on a measured move extrapolation (see the ascending triangle?).