Look for wave (3) to target the 1.618 multiple of wave (1) at 14248. 12069 is near-term support. The focus will then begin to shift towards a peak in wave (3) and the next corrective decline in wave (4)
ABB broke the lower boundary of the trend channel. Rebound to the channel possible with target in the marked resistance area
________
🚀 Follow for daily posts
🎯 About my posts: They are kept self-explanatory in order to avoid overcomplicating and confusion. Mostly price signals and trend analysis combined with chart patterns.
Disclaimer: This is not an...
LSK has a very ugly long-term chart.
On the daily, it looks like it's in a "Shoulder-Head-Shoulder" pattern, however the Stochastic, RSI and ADX indicators indicate a sideways move with a possible rally.
If the BTC rises it can only follow later.
However, now is not the best time to position yourself on altcoins.
I would particularly be left out.
The risk...
Over the last years there were periods when US stocks outperform EU stocks and periods were EU stocks outperformed US stocks. Almost like a perfect oscillation. Currently EU stocks have been consolidating for quite some time and especially German stock, so maybe all stocks do well and EU ones do better. The secular trend when adjusted for EURUSD rates too, is...
ADDITION TO MAIN PUBLICATION, LINKED ON THE BOTTOM.
As said before, the trend remains bullish. We found a good support on the Weekly combined with the middle of the Uptrend Channel since march 2020.
Trend remains bullish as of now.
Retest of the Monthly at 0.458 would now make sense.
MBTN recently rejected a few levels. Yearly horizontal, 0.236 Fib and the "local" monthly combined were acting as a huge resistance. Combined with the massive run since March 2020 Crash, a retrace made sense and is healthy.
A retrace to 0.25 Chf would make sense, that's where I initially entered the trade and also bought Call Options.
Although it would make sense...
Price already break down trendline.
Already crossed daily Ichi cloud and pullback to rebound.
Weekly also already crossed Ichi cloud.
Therefore, SMI has the potential to go upside.
Mobilezone Breakout of 4 Year Downtrend after Double Bottom and three rising Valley Pattern!
Target 1: 13.04 (0.618 Fibonacci)
Target 2: 16.68 ( ATH )
Target 3: 22.54 (1.618 Fibonacci)
SMI has finished or is very near to finish its primary wave 2. After wave 2 is finished, wave 3 down should lead the index to new lows. If the index crosses down 9,380 the odds are that wave 3 has already began. FOLLOW SKYLINEPRO TO GET UPDATES.
#Chart
MGM opening up slight down this morning after climbing 44% in the past 7 days. Support has broke on the 4 hour with the RSI rolling over and SMI about to break down again.
Will be watching for first lvl of resistance @ 15.62
SMI is about to flip positive after a day and half of heavy selling.
Double bounce off the 50 fib.
Confirming breakout continuation trend @ price target 74.
Recommend: Buy @ 74
Stop loss @ 73.50
The Swiss index is tracing down super cycle C wave that should bring down its prices below 6200. There would be opportunities ahead in counter-trend moves, but the long-term is down. In the shorter timeframe the index is on the final stages of intermediate 2 up. After it finishes, wave 3 we bring the index to new lows. FOLLOW SKYLINEPRO TO GET UPDATES.
Hint: To see a chart maximized, click on the button on the bottom of the chart which appears when you hover over it.
(Or you can click on the chart and press Alt + Enter)
Market starts to react on Corona Virus. IMO it is just the trigger, not the cause though. The Economy has been kept alive for way too long by FED, ECB etc. with measures like "Not QE", balance...
