I got asked the other day about Bitcoin and what I thought about recent price action. When looking at the timeframe all that comes to mind is consolidation and bearish. As we've seen on the AUDCAD over the past few weeks (as it's nailed 4 straight cyphers) consolidation breeds patterns. I see 2 potential patterns here on BTCUSD the first being a bearish bat...
A rough few days for the investors with long positions. Today AMD is finding support on a historical support level (marked with the rectangles ~$2.25). I won't mark this chart "long", but I'll be watching AMD to break through the 2.65 resistance before considering a long position personally. I've circled the most recent RSI entrances into the <30 oversold...
Market below the 55 day. Trend-line break with a solid price movement downwards. Back test of 1192 possible. Possible to short on either price reversal on back test or follow through selling below the 4/22 low. Stop on initial short entry could be placed above 1203. Daily MACD cross supports position as well as RSI movement. Geo-political risk could cause...
After a new low at the end of bear cycle, market corrects in 2 waves to 61.8% from the previous bearish cycle. The bearish cycle in this chart begins after 3 requirements are fullfilled: 1. Break the bullish trendline of the correction from previous bear cycle 2. Break down the last month's daily EMA so that it becomes resistance 3. RSI breaks solidly the 40...
Hi Traders, I just closed all my long term longs on $GER30 as I think we are in a great place to reverse or correct for a long time. As we can see on the graphs, waves with equal legs and we just completed 5 waves up. Also, RSI at trend line resistance. If I see anything bearish on 4hr, I might try to short in few days. Thanks! Thiago...
Hey Guys, Simple clear Chart for you Today. EUR/NZD is moving nicely withing a few trendlines. - 200 MA is coming in to act as nice Resistance. - In Additon we are approaching Structure , check left RED BOX - 0.618 Fibonacci Retracement waiting again IF you want extra confirmation wait for the Trendline to be broken. IF you want even more confirmation,...
We have a clearly bearish RSI, who needs a top. So we could probably have a little rebound. The pair stays under pressure by RSI, we may have a really nice fight that could break the main bull trend.
RSI 7, 14, 50 MA Ribbon In chart, representing RSI 7 (fast) RSI 14 Normal default and RSI 50 (slow) as a single indicator. With each RSI there is a set of Moving Averages creating a ribbon. Colors for RSI Ribbon It uses only four standard colors Maroon : Trend is down Green : Trend reversal warning Lime : Trend is up Red: Trend reversal...
These are some of the indicators from my two packages available on TradingView appstore. This chart has S/R levels, derived from an oscillator, overlaid on price action for easy identification of clusters and turning points. It also marks bars (up / down triangles above/below) with reducing momentum to show potential upcoming bounce levels. This S/R level is...
This is a potential bearish butterfly pattern on USDJPY as price is in consolidation on the Daily Chart. Of course this trade wouldn't be of any interest to me if there was no resistance zone. This is because since trading is a business of probabilities, I want to know where the sellers are so I can get involved. Now a list of what this trade has to offer in...
Recently with Tesla, Positive news has been ignored and negative news has been exaggerated. This irrational pessimism, combined with high short interest might indicate a rapid momentum upwards swing is in order. This is especially true if Tesla chooses to announce their CPO program or their stationary storage product soon.
The S&P 500 made a possible continuation signal from Wednesday's trading session. While it did close back above 2095, I am concerned about the candle it formed. This gives an edge to the sell side to continue its move lower. It may attempt to move to 2100 but that has a chance to be short lived.
After the complletion of the Bat Pattern last week, bears came crushing the bulls. However, the momentum of the selling pressure is decreasing shown by the colour differentiation in the candlesticks. This potential bullish trade does provide a lot in terms of technicals: 1. There is a hidden divergence in place which indicates a trend continuation. 2. A potential...
Hey People, we just saw another Huge Short going on in the EU Pair. Now we approaching former Support Zone again. I did the combo of DXY and EU now. What we do see on the DXY is a Wedge sitting at its top trendline now. According to Fibonacci Extension of last prior move, we could see a little more Upside and then back to the lows, wheren we can buy DOLLAR...
RSI is extremely oversold on MONTHLY. January couldn't close below 61.8% Fibonacci. Once Feb will close around 1.13 we can see possible reverse up as it will be ideal morning star with Doji. But nonetheless the trend is still bearish. Move up can only indicate correction (maybe to relax RSI) Watch 1.12/1.21 as medium term range. Intelligent trades!
Hey Guys, we got a simple Structure based Trade with Fibonacci levels and RSI being overbought. Nice confluence with Structure looking to the left. Consolidation Rectangle. BUT we did fail to make lower Lows. We gotta see that in near future to confirm the ongoing of the BearTrend :) Feel free to ask questions! We have 2 Zones to enter. - The one we are right...
AS oil sells off to the down side, pattern traders have 2 shots to get involved on. First, the bear bat which is in line with the underlying bear trend. As well as a bull bat which is more clear on the 4 hour chart. Good Trading Guys