Ever since SQ broke its downtrend from the all-time high at the beginning of 2019, our team at PLT has been watching for great intra-day and swing trade setups. SQ is one of our favorite companies to always remain bullish on due to the products and services they offer in the Fin-tech industry.
This trade was planned on January 18, 2019 over the weekend to enter...
The price was broken at the the trend line. The break of the trend signals a downward movement this will be confirmed by a momentum candle to the downside
The candle was tested and rejected.
The lower-end of the trend line is the current price area of dominance.
There has been a ton of relevant action at that median line and so I think a retest of it isn't out of the question. It is possible that we bounce before that, but I would be very comfortable using a large amount of capital on this play. Really nice RR and also a pretty tight stop loss.
price has formed medium term bullish channel, an expected retest of the trendline below of the channel is an opening to short for short term
to medium term.
On weekly price is at a vulnerable price level on an inner ascending trendline, a convincing break and retest of this trendline will see price plummet to the initial ascending trendline on weekly.
The 4hr timeframe chart is used in this analysis to inspect price action in LTUCUSD.
Three things to keep in mind in this case are highlighted on the chart and discussed below:
(1) The major trendline in Litecoin (LTCUSD) since ~January 06, 2018. This bearish trendline is still active and its implication is that it is safest to initiate a position only when price...
The chart patterns present on the CHFJPY Daily tf are shown in this analysis with an inverted, complex Head and shoulder pattern (or inverted, complex Head and shoulders bottom) captured in this analysis between March 23, 2018 and till present date.
A close above the neckline at ~112.21 confirms the pattern. Distance from the neckline (112.21) can be subtracted...
Roadmap to get us out of this correction (ideal setup) & Next key pricelevels to watch.
If we hold 7040$ (preferably, or else 6425$) the bullish wave count is still in place.
Sure you could argue the retracement from 9990$ was bigger than anticipated but the bullish count has not been jeopardized as of yet.
Last update I said we might see a bounce from the 0,5...
Bitcoin nailed the 0.5 retrace (from bottom to top) and is currently testing it's 0.618 and previous downwards channel resistance (previous support).
This bounce from 8200$ has been very very technical. Congratulations on this obvious Long position.
Wave 2 should be completed now (as long 8200$ is our bottom).
Wave 3 will head towards 13000$. That might take...
Bitcoin is still following my previous chart nicely.
It has been in this upwards channel for the past 3 weeks. Until this channel is broken downwards I don't see any problems for the bulls.
I noticed the selling volume (after breaking minor supports, mostly in huge sellspikes) being bought up straight away by big players. And if theres no selling volume bitcoin...
Bulls still accumulating? Bears are trying hard with little result so far.
RSI is cooling down for another leg up (as long as this ascending triangle keeps intact).
Feedback always welcome. Have a good day!