APHA bear break of wedge, test of key daily support tomorrowLet's see if the APHA bulls can hold key daily support and change the hourly trend to possibly see continuation on the daily chart, or if we will break support and find ourselves in a potential weekly equilibrium
Wedge
APHA daily rising wedge haunting the bullsYet another APHA bull break with no follow through, making this rising wedge pattern stand out to me even greater. Watching to see if bulls can form a new daily support above 12.65. Here are the levels
Keep in mind the past 10 weeks have been an incredibly bullish market environment, which is perfect for MJ bull runs to thrive in. We've been seeing weakness for the past few days and if this weakness in the S&P500 continues, that will have downward pressure on the MJ sector as a whole. Never lose sight of what the overall market is doing!
APHA grinding support line, potential rising wedge on watchAPHA in a different setup that the rest of the sector, and may potentially need a daily higher low before seeing continuation that other names have already started
BTC/USD Potential Wedge Forming with Support @3450$ & Res @3.9kBTC/USD Potential Wedge Forming with Support @ 3450$ & Resistance @ 3.9k
Method Used - Slope Analysis
Spy Bearish Wedge (short term thoughts)AMEX:SPY
A quick look at the current chart (daily timeframe w/a quick look at 5min intraday price action), with an emphasis on bearish pressure from TA perspective.
I have puts expiring this week, anticipating a move down based on technicals.
GBP/USD to Continue Falling After Retesting Major LevelBased on technical analysis, GBPUSD has blown through previous major support and a major demand zone in the market. It's currently on a macro-downtrend, continuing with lower highs and lower lows. Top down analysis has shown that this pair is just in a small retrace at the moment, retesting the broken levels while still maintaining structure.
However, on the the smaller time frame uptrend, it has broken both its trend line and structure. Looking for a retest of the broken trend line and resistance level before it continues with a powerful push down to continue its macro-movement.
BTC is likely to push up from here- Bullish Wedge
- Daily Regular Bullish Divergence
- Huge Short Sentiment (Contrarian positioning)
- Previous Price Reversal Point
** Note I did say 'risk what you cant afford in the video, obviously I meant only risk what you can afford **
Rising Wedge Pattern - TUTORIALWhat is the rising wedge pattern and why is it considered a bearish pattern? Quick explanation of what it is and how it works.
More video training at: nodeinvestor.com
Video - Shorting USDJPY after breakout to the downsideGood evening traders,
Here we have a short setup on the USDJPY.
We've spotted a breakout to the downside and capitalised on the break on the lower timeframes.
Details about entry and exit levels are in the video.
Happy Trading
Kaetea Ng
Video - Trading Setup #1Hello Traders,
Here I have a video on a trend continuation setup on the EURAUD.
Enjoy!
Kaetea Ng
Pound Kiwi (GBPNZD) Long!!!Hey Everybody, Alex Here!
As you can see I'm currently eyeing a nice long set up on GBPNZD. I know everybody is bearish (bad) on the GBP at the moment due to all the discord concerning the Brexit talks currently taking place in Brussels. Even thought the overall sentiment towards the GBP is bearish (bad) and this trade is favouring GBP strength over the NZD, the economic out look for NZD is not looking good either, terrible actually. Thats the key here! For all you traders that really like your fundamentals to be in order before taking a trade, this isn't a trade of one currency being positive and the other being negative, its more of a... which currency sucks the least. So with that being said I do feel that UK is in better shape then the New Zealand art the moment.
Now that we got the Fundamentals out of the way, lets just clarify the Technical confluences outlined in the video.
as you can see price broke to the upside of the wedge it has been forming, and has been on a sharp trend upwards ever since.
On top of that a last leg of the Eliott Wave is looking likely, with nice doji candles forming at an area of prior resistance now turned support which also happens to be the %0% fib level.
As you can see there are decent Fundamentals paired with many Technicals supporting a move upwards for this pair!
Hope this idea helps, and please feel free to like or comment as long as its positive!
Happy Trading,
Alex
Silver - Finally putting in a bottomSilver looks to be showing a little bit of life today with a large bullish fake-out from a bearish pennant. That is price has been dropping consistently week after week with multiple bearish patterns forming. Another bearish pennant finished forming and price today broke to the downside but staged a very aggressive comeback, back above the pennants bottom channel. Only time will tell if this turns into a long term bottom, but we at least now have a key ingredient to a bottom, "buyers".
Bitcoin to follow new steep uptrend line ?I see at least a possibility that bitcoin has now embarked on a new steep uptrend line similar to the time frame of March 2013.
There are points of evidence that the current price action will continue in classic uptrend style price action that is persistent and pushing higher consitently and then evolving into runaway price action.
The bear market of first half of 2018 in bitcoin has somewhat of a formation of falling wedge or triangle which supports the theory that we have seen price compression which can lead to a strong and persistent price move up.
The key questions are how long will the price stay persistent?
Will price evolve into runaway price action from the uptrendline ?
Will the there be a stopping point to price in the 11,000 to 13,000 range that then resumes the bear market or will price continue to rally into the end of the year reaching previous highs ?
Stay tuned....
The Chart Pattern On Ethereum Everyone Is Looking AtRight now I think everyone sees the same thing: A big ole wedge setting up on ETHUSD...now I hate to burst your bubble, but I don't think it's ready to head higher just yet. As we speak Ethereum, Bitcoin and the rest of the market after a rather quiet day has started to sell into the last hour of the session. We're at a pretty key decision point here in the markets and with multiple Squeezes coiled with Bearish momentum, I wouldn't be surprised if the bull's bubble's are burst yet again.
$DJI $DJIA general analysis rising wedge BORising Wedges are Bearish patterns (a little booboo in the vid) all the rest of the info is in the chart.
$ESE base breaks out in falling wedgesee annoations and video.
Wait for break of 20MA IF it happens it will be a nice long
NZDUSD - A Rising Wedge Becomes A Structure TradeHey Traders - In this video I share with you an example of both a simple pattern formation called the Rising Wedge as well as a potential structure based trade.
Akil
Interesting conflict of trends and patterns on Wall StreetIn this video I show what I think is a pattern that creates a greater probability for the south.
I explain more on how I draw my trend lines, which may not be what the gurus teach people to do.
The main feature is a contracting pattern on the 4H which stand to be beaten by the big trend from the Daily.
I'm not saying the pattern will break soon. Price may bounce around more before any real action if it is to happen.
Have a look. Cheers.
USDCAD 4HR - Head & Shoulders & Falling Channel on the RadarIn this video we're looking at a structure based trading opportunity on the USDCAD using a few classic reversal patterns.
GBPCHF BreakoutIs it a Bearish Wedge or is it 3 Rising Valleys? Look for the Breakout Buy or break below and small retest for a Short.
