$MDT has been reaching higher high after higher. today it finally had massive pullback. This the best time to get for the cheapest price for when earnings come.
The Nasdaq may look ugly, BUT pay more attention to where it is on the road map. IF a reversal materializes at the current level, it can establish a double bottom. If it pushes lower into the mid 153's, it will be within a high probability reversal zone. What does all this mean? It is high risk to be short at current levels. We are looking for relatively strong...
We can see clear Falling wedge pattern and strong divergence on all indicators like MACD, RSI, Momentum etc.. Wait for a reversal pattern at support zones: 1. ±6000$ zone 2. ± 4500$ zone 3. ±3000$ zone You will see a start rally with volume increasing ONLY after a reversal pattern completion at these zones. The first Target of the rally is ±11500 Good luck!
See previous screencast on AUDCAD I still see potential for a reversal and I explain why. Also see recent other setup on EURUSD using similar methodology.
We have the following factors: Falling Wedge Daily Reversal Zone Daily uptrend Respected .705 Fib level + Bullish Engulfing candle We might expect a pullback for a better entry, or we may seek for a good PA confirmation on a lower TF. All comments and questions are appreciated.
Trading Criteria: Regardless which way you want to trade, look for minimum five 4hr. candles in consolidation zones (yellow border boxes), or five daily candles for solid yellow boxes. If you're a pattern trader or pinbar trader, this might be useful here. Wait for the breakout of 4hr. consolidation or daily consolidation (red border boxes) to take the trade. I...
Looking at the EURO/Peso This is should be a strong sell for the week but I'm searching for the perfect entry. Looking at the trend up I dont think it is ready to break this trend line. I would look for it to push up to a area of resistance then start to push down strong enough to break through the trend line and hit a lower level of support. This might take some...
BINANCE:EOSBTC Long term buy setup After completion of the Bullish Bat Pattern formation BINANCE:EOSBTC started moving up making higher lows forming an ascending triangle. Expecting a breakout to the upside from the triangle and for the targets to be reached. TP1: 0.0015288 TP2: 0.0012079 SL: 0.0004000
Oil made a new high at 76.90 before making a 3 day correction. For oil bulls' who trade on the weekly time frame, oil has just broken a weekly range at 75.29, which certainly bodes more upside for them. As for day traders who have missed the up move, this retracement could be a buying opportunity to join in the party. Revelation Trading has identified 2...
Price at 38.2% of current Fibonacci retracement range, momentum still unclear at the moment. However the bearish momentum from previous candles (from the significant level and reversal zone above) may continue.
ETHUSD update: Bearish price action leads to break of major support area. Now that key levels like 400 and 374 have been cleared, the broader strength of this market is thrust into question. And the answers can be found when you look back in time. The 300 area, which dates back to November of 2017 was a major break out for tihs market. There is a tendency for...
ETHUSD update: As BTC flirts with the low 6900 area, this market is being pulled along for the ride. Even in the face of significant BTC selling, this market is showing signs of resilience around the 400 psychological support level. Along with that, the likelihood of a double bottom formation is high. Earlier I published an article on S.C. and mentioned some...
My tradeplan is on the chart This is not trade advice
ETHUSD update: Lack of follow through takes this market back to the low 450s. This comes after a buy trigger appeared on Saturday at 464. More interesting is the fact that BTC pushed higher while the majority of the alts remained weak. What happened to "follow the leader"? At S.C., we were able to save our followers from this lack of momentum that began with the...
They say a picture is worth a 1000 words... As such, I'm not going to say much. Taking a look at this lovely chart: 1) I'm predicting support in this rectangle (Based on past events) which coincides across the initial bull run and previous bounces. 2) A predicted support area coming up at 5500-6000. 3) Shorts are at an all time high. In fact, way higher than...
LTCUSD update: Price has retraced nicely along with the BTC sell off and is now in a very attractive area. Even though short term momentum is still bearish, a bullish retrace back to the 120 area is within reason. Earlier today on S.C., Andrew posted an article on accumulating inventory in this market. If you haven't read it yet, you should check it out because...
The daily candles are indicating 2 things for LUNBTC: 1. Lunyr is heading towards the oversold region 2. LUNBTC price will fall in the short term, allowing the final buy opp before Lunyr takes a trip up. As Lunyr is entering the oversold region, it is possible to definitively say that once it exits that region LUNBTC and LUNETH will head towards target zones,...