Trend lines can be used to identify and confirm trends. A trend line connects at least 2 price points on a chart and is usually extended forward to identify sloped areas of support and resistance. Lines with a positive slope that support price action show that net-demand is increasing. As long as the price action stays above this line, we have a bullish trend. Lines with a negative slope that act as resistance to the price action show that net-supply is increasing. As long as the price action stays under this line, we have a bearish trend.
Price usually retests a sloped trend line several times, until it breaks at which point we may have a trend reversal. The more points there are to connect, the stronger a trend line becomes. Different strategies have different rules on how far apart connected price points can be and whether to connect wicks or candle bodies, but all trend lines break eventually. TradingView has a smart drawing tool that allows users to visually identify trend lines on a chart. This tool can also be used to illustrate trends on indicators.
Resistance can be a good selling point
R/R: 3
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One of the most pessimistic scenarios in which I do not believe because the market deviation of decline is quite serious. However, I take it into consideration to some extent for long-term trades, because time fibs play significant role in identifying the common cycles and estimating their reversals points on time scale.
This dividend aristocrat is currently sitting about 75% below its ATH. The company’s average dividend yield during the last Recession in 2009 was 6.4%. With a 6.1% yield now, AT&T is trading at recession level prices. It has also acquired both direct tv and Time Warner since then. They're currently leading the 5G race. AT&T has followed up its 12-city rollout in...
UJUSDJPY is going to respect trendline and touch monthly Support
SHORT
BEARISH
4HR
DAILY
WEEKLY
MONTHLY
All signs to go short
This published idea is updated as IDEA 2 OF UJ
Parabolic bitcoin price growth this year was a trap for the "bears".
The explosive rise in prices is the usual short squeeze, which was initiated by cryptocurrency exchanges and big players, while real investors are waiting for a healthy recovery to start buying again. “Short-squash, devoid of any real volumes of investors ... I am waiting for this pump, managed...
Sometimes trading/investing is difficult, other times it's as simple as one thing on a chart.
With Tron right now, it's clearly still in it's downtrend so if you're looking for a safe buy time, keep an eye on this!
This is also nearly identical to my Ripple chart currently as well.
Remember, "The trend is your friend!"
Make sure to follow me for more Crypto...
Top coin that has not shown itself properly yet Stellar Lumen
Stellar is an open source, decentralized protocol for digital currency to fiat money transfers which allows cross-border transactions between any pair of currencies.
In 2014, Jed McCaleb, founder of Mt. Gox and co-founder of Ripple, launched the network system Stellar with former lawyer Joyce Kim....
Verge right now is clearly still trending downwards but it looks like it MIGHT be time for it to break up to at least the upper trend line again.
It's also currently re-testing the previous all time low that it just went below a couple of days ago so to be safe the most recent downtrend certainly needs to be broken!
Watch this chart to see when the downtrend...
First, check the linked related idea...
if you have your market view, please share it in comments
Also, you can ask me questions...
Have a great day everyone!
4 Hour Chart Explanation:
- Price made a pullback to the Weekly Ascending Trendline.
- It is currently on an Ascending Trendline.
- If it bounces in the Resistance Zone and breaks the Ascending Trendline at 7610, potential to move down towards the Macro Support Zone at 7000.
- We are looking for sell setups on lower timeframes.
Check out our Weekly and Daily...
We have been following this BITCOIN log chart since Dec '18 and it never disappointed us. BTC has been in a mega bull channel since Mid 2013, and looking at it with past halvings marked makes even more sense.
Cut to the chase, 10EMA on weekly is intact, next halving isn't far away relatively, and lower slope has further validated itself since Feb '19 spike....
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