Lina 4 hr chart. Hit bottom of the trend line; range low. BTC is also oversold at the range low. Looking for an oversold bounce, possible 20% profit if BTC cooperates. If BTC looses support this trade will be invalidated.
This flashcrash will pivot soon IMO. Statistic: Most ATH occur in September. Did in 2020. Friday Triple Witching culmination?
NQ has been bearish but acts more like consolidation at support, making higher lows. NQ is >25% of SPX market cap.
We have seen time and again how the bulls grab every dip and this one likely to be perceived as just another...
I think the EURO will rally back to make a 50 percent retracement before continuing to the downside.
The RSI is extremely oversold on multiple timeframes and it's at a strong support level, A temporary bounce wouldn't be unexpected.
Todays Analysis – XTZ/USDT – finding support at a structural level with an oversold bounce.
Points to consider:
- Strong Downtrend
- Bearish PA
- Oscillators below 50
XTZ has found support after an impulse sell within this steep downtrend, further continuation into daily resistance is probable.
However, price action is looking weak and bearish. Even with a...
Still opportunity for NIO stock price to rise further before the RSI becomes oversold and the price dips below the 21 week average again at which point it will be another good opportunity to buy this well performing stock.
Evening Traders,
Today’s Analysis- CADJPY – price impulse through key structure, an S/R flip retest will validate it as support.
Points to consider,
- Trend oversold bounce (RSI)
- .618 Fibonacci (Resistance)
- Structural support (S/R Flip)
- Stochastics sell cross
- Volume influx
CADJPY trend impulse was due to oversold conditions indicated by the RSI. A...
Evening Traders,
Today’s Analysis – AUDUSD – recovering from weekly oversold conditions, trading in an important range where further price development will allow for a directional bias.
Points to consider,
- Weekly Trading Range
- 21 MA Breached
- Technical Bearish Divergence
- Oversold Bounce
- Extended Stochastics
AUDUSD has entered its macro weekly...
Evening,
Today’s analysis, NZDCHF respecting the 2.618 Fibonacci Extension with the next projected trade location at structural resistance
Points to consider,
- Oversold bounce recovery
- Structural resistance retest
- 21 MA breached
- RSI swing low failure
NZDCHF’s oversold bounce recovery is projecting structural resistance to be tested.
A bearish...
Evening Traders!
Today’s update will be on BTC which has negated the cup and handle formation (see chart linked) and now is in an established down trend.
Due to the immense selling pressure, BTC is probable to have an oversold bounce cooling of oscillators such as the RSI.
Points to consider,
- 21 EMA broken
- Structural support intact
- RSI...
Hello Traders!
Today’s update will be on SPY, a big gap down with immense selling pressure coming in from a technical standpoint.
An oversold bounce will be imminent due to overextended oscillators
Points to consider,
- Key Moving Averages broken
- Local support at .50 Fibonacci
- RSI oversold
- Stochastics in lower regions
- Volume Climax nodes
SPY...
Hello Traders!
Today’s chart update will be on XRPBTC, testing structural support with oversold conditions poising the probability of an oversold bounce.
Points to consider,
- Trend broke key resistance (S/R Flip)
- .50 Fibonacci current support
- Local resistance to break
- RSI closing in on apex
- Stochastics projected up
- Volume decreasing
XRP broke a...
TICKER: $CRON
CRON is basically the same as CGC. Huge bear volume on Friday with a 10%+ pull back. Bull flag has been negated and we are looking for a daily higher low compared to 6.38.
Watch for $SPY correlation as it will have a factor in the timing of the bounce. Also watch correlation with CGC and other canadian MJ names. Remember, RSI levels could get to...
Hello Traders!
Today’s chart update will be on a trade setup currently forming on bitcoin, a decent bounce off from local lows after a bullish divergence has led Bitcoin to now resting on the EMA’s. We have clear levels of support and resistance to watch for a bullish on or bearish play.
Points to consider
- Oversold bounce came to fruition
- Price supported...
