I've readjusted de bottom line of the symmetric triangle (white lines) in order to cover the latest price movement. The price has tested many times the support line of the symmetric triangle (white lines), so the breakout should be close to happening. The symmetric triangle usually breakout in the direction of the current tendency (the one before entering the...
Looking to Buy in an area of value $254 and $310 targeting $824.10 the 1.618 Fibonacci level. We need price to close above the $509 level to expose the target level of $824.10.
Technically while I am long SLV in the big picture I think there may a little but of downside left to complete a healthy retracement. The tool I've used here depends on identifying divergence (in this case MFI but RSI is fine as well), you then measure the duration of that divergence, and lastly project it (duration) off the price low (as this is bearish...
I've used the DMI to gauge the upcoming convergence between buying and selling volume, and as highlighted, they're moving closer together quite quickly. The MFI indicates higher selling volume and highlights oversold conditions at current prices. This is prime time for whales to start feeding. Last the ParaSAR is displayed to indicate overall strength of the...
Hey everyone, Details in the chart. Look up the Money Flow Index indicator if you're not familiar with it. It's a very effective indicator on the daily chart - basically combines RSI and Volume. Expected Price action of this ~35% correction is outlined roughly in magenta color, along with the expected MFI movement. Target of correction is around the $6,000...
Dear day traders, RMI still above 50, as I have commented on previous idea, the price will only go down when the RMI shows a massive negative slope. Money Flow still confirms solid buying power. Still, the 15min chart already signaled some weakness. I would still hold on to BTC position and have a stop loss at 8090, but I don't advise against going short now. I...