The market is showing signs of a possible bullish reversal of the current downward trend. The volume in the market isn’t supporting further downward motion and prices looks like it’s going to rebound.
Looking at candlestick patterns on the daily chart we have tweezer bottoms and a spinning top formations that are both reversal patterns.If we add in the Bollinger...
Just noticed this while i was playing with the charts
AUDNZD has formed a consolidation range, and on the lower side we have some tweezer bottoms, text book like.
If it goes as the literature would say, the stop just on the other side of the candles, and a TP on the next significant zone, and i think it would be the one marked
On 6/29 tweezer bottoms began forming on the weekly charts of BTC. There was also a strong buy signal on the stochastic at that time.
Since then, MACD has exhibited a bull cross. The first one since December.
Why is this important?
Because that MACD is a lagging indicator. It's does not pick up quick market movements very well. Therefore, it is much more...
Overall, BCH price is within a descending channel. We had a small reversal after the tweezer bottoms (in orange) that formed 3/4 days prior.
Tenkan san shows the market is ranging. At the same time, Kijun Sen is falling to meet the price which signals a lessening in momentum. The wicks under the past two daily candles further supports that idea as well as the...
81.80 - 80.80 is the key area of support.
Two pin bars was formed side-by-side, or another forex term "tweezer bottom" can be spotted on the Weekly chart.
Will decide whether to Long the market when it opens tomorrow.
** This is not a But/Sell recommendation **
** Please do your own due diligence **
There are potential tweezer bottoms forming on the candles which could signal a small reversal of trend. This price action is further reinforced by the falling wedge pattern being formed.
However, ADA has some strong resistance to overcome at the top of the wedge both in the form of psychological resistance as well as the .5 fibonacci level.
There's a small...
This is the bounce we are most waiting for.
I see many bull divergence from some of time frames such as 30 min, 1hour and 4 hour.
In addition, i see that we will break this falling wedge.
The bull scenario:
The thing is, we need to close above the red line 50-MA (recent support) around 8300 for daily candle today.
If it happens, we will see a tweezer bottom, and...
I see a weekly low test rejecting the weekly 51EMA, that lead to an intraday double bottom giving price momentum to break and retest the H1 51EMA. A break and close above 111.5 will present weekly tweezer bottoms for the following week. Lots of upside potential
Weekly low test candle rejecting weekly 51EMA. Daily double bottom leading to intraday doubly bottom. Break and retest of H1 51EMA with stop below the 618 retrace of previous move up. Aclose above the 111.50 level will give weekly tweezer bottoms going into next week.
May Soybeans rose out of a tweezer candlestick reversal today. May see another up day tomorrow. Seeing that beans are pressured by Brazil harvest, we consider this a retracement and fall into bullish Butterfly. Suggest 50% or 61.8% next target. However, open interest is still rising and we are still in an uptrend. If market continues up, possible double top.