A simple scenario with 3 elements that might occur for a potential shorting setup. In case a new high is formed and resistance is met at the orange line with signs of a potential turnaround, the case for the short becomes even more relevant if a divergence on Awesome Oscillator appears. There is an interesting support curved trend line following the previous lows...
Left chart: The daily RSI has a bearish divergence and failure swing (lower low) coming out of oversold territory which suggests a top for the month of October is probably in. A close below the 9-day (pink) moving average is also bearish. Right chart: The hourly chart shows price near the bottom of a price channel that is about 1 month in duration. A bounce...
Uranium miner Cameco ran to new highs in August and September as prices increased for the nuclear fuel. Now, after a pullback, some dip buyers may get active. The first pattern on today’s chart is the $35.16 level where CCJ closed at the end of July. It continued to serve as resistance in the first half of August, but then became support after prices broke out on...
GM fellow crypto enthusiasts! Today we are going to discuss how to identify and trade ranges. How to identify a trading range? A trading range is formed when an asset trades between consistent high and low prices for a period of time. The top of the trading range often provides price resistance, where as the bottom of the trading range typically offers price...
It appears that NESTLEIND has experienced a recovery near the earlier support level (approximately 21338). Additionally, the RSI is currently between 30 and 40. Price re-visiting the recent high at 23410 would potentially result in an approximate of 7% increase.
On the above 2-week chart the 2 year bond yield has increased an astonishing 4500% in a little over 2 years, perhaps you’ve noticed?. The chart is now indicating rising yields are a thing of the past, at least until 2026. From here on it is pauses and cuts until the real economy shows signs of recovery. This will likely be a difficult 2 years ahead for many. The...
CAPITALCOM:US100 has broken the neckline/support after forming Head & Shoulder pattern (Bearish Reversal). Check out previous post for CAPITALCOM:US100 to find the full analysis!
AMEX:SPY October 4, 2023. 15 Minutes. Down trend continues. As expected once 424.52 was broken it was non stop downtrend till 420 levels. We are nearing the important 418-412 levels. Yesterday made a mistake as i missed to see the 100,50 averages near 427 levels. AMEX:SPY made a high 426.65 and reversed getting resisted around those average levels. When...
GBPUSD was in bearish trend for quite some time 1.20700 was targets for head and shoulder bullish divergence on 4hr and channel top of DXY
At this point, I would expect another retracement to 106.50 area before proceeding with the trend. I will look to go long at this point. This is still at least a few hours away.
On the above 2-day chart price action has corrected over 80% since the beginning of the year. A number of reasons now exist to consider a long position, including: 1) Price action and RSI resistance breakouts. 2) Price action backtests past resistance as support. 3) Price action tests the ‘bottoming candle’. 4) Regular bullish divergence. Was asked about this...
USD JPY tapped into the strong resistance and watch the video to understand how to trade it
The dollar will continue down to the 105.90 range at which point it will reverse and continue its current uptrend
This is not going to be popular… This idea is a continuation from the “Cardano (ADA) to 80 cents” idea published in September 2021. I’m now satisfied the conditions for continuation have now been met. Before the critics come out on mass, check out the 80 cents idea below before commenting. I’m not interested in tribal whataboutery, I’m only interested in the...
- Sell Signal Below Resistance Trend Line - Squeeze between EMA 144 and 233 - RSI Picking Up - MACD Neutral/Descending Looking back to 2020 we can see a similar pattern. What this mean?!?.... Well, it can repeat the same pattern that seems more sensible to me or in case of breaking the EMA 233 we will see a continuation of the downtrend towards the $10,000...
Hidden Bullish Divergence on Matic Expecting a very strong move from Matic Next 6 Months
Optimus AI - LSE:OPTI - DSS Bressert high cross suggests potential decline before a move higher - Could be 11-15 days of downward/sideways price action as per pattern on chart - An ideal new entry for me would be between 0.117 and 0.113 with…the a higher low established @ 0.095 being a stop loss point - This offers a nice Risk/Reward...
🔍Here we are looking at the price indexed to 100. 🟢We have a descending rising wedge, with a bullish divergence: price falling, with the SMI (Stochastic Momentum Index) of the PVT (Price Volume Trend) rising. 🔴Could price revisit the 0.5 Fibo retracement in the final breather? It could, but I think it's unlikely. In any case, I traced this possibility using the...