Weekly charts represents series of data points where each data point is comprised of the price movement for a single week of trading.
This chart type has been used for a long time by traders and typically applicable for long-term trading.
I just received a short signal on the weekly timeframe , so I decided to go check out the h1-h4 timeframes.
We have a confluance of :
- Resistance zone
- EMA Crossunder
- Fib rejection
- Double channel rejection (1 breakout & retest)
Good luck to all !
(You can also watch below for Weekly analysis)
Things are getting exciting here as Crypto may have now closed 2 weekly candles above the weekly falling wedge pattern and could b poised for a breakout at anytime...however where the latest weekly candle has closed has also opened the door for the ossibility of the top trendline of the wedge to be considerably higher than originally thought (shown here with the...
- eco data clearly on the soft side (fear of technical recession becoming reality)
- low int. rate environment - hurting EU financial sector
- wage growth pressing company margins
- weekly 20 & 200 MA confluence was a strong resistance -> reason to close long positions
- broad channel pointing lower -> price below 10.000 level is on the table
My apologies for such a saturated chart.
For me, this bullish trend is ending very soon. We can see that the price is losing strength as it approaches to the weekly resistance. It also got over the 0.76 just for 20 pips and immediately reversed. Zoom in on last pullback and pay attention to the volume traded. You can see the bearish candles have more weight and...
Apple (AAPL) has ben bearish for the last couple of months but are now looking to bounce and start a new uptrend. RSI is oversold and the price bounced on the 200 moving average. Parabolic SAR has now moved below the price. When we add all these indications together we have a clear buy.
Hey fellow traders, it's your boy Pic again. Looks like we could finally see BINANCE:ETCUSDT move if we can break this massive weekly wedge. The likelihood of it breaking upwards is pretty good if we can keep this bullish divergence, and of course $BTC doesn't poop out.
Chance for a breakout to around $5.60! We will see if we get a breakout and followed by a...
BTC wants to go to overbought again on weekly timeframe. It would be ultra weird if not.
Weekly stoch RSI has not been on overbought since a very long time, probably the longest time in BTC history.
It needs to be overbought again on weekly, so that it can prepare for the next dump, which hopefully will be the final one.
At least there is a high probability it...
tryin to hold the 200MA on BTFNX weekly
IMO bulls see in this as a possible double bottom forming
BUT I highly doubt it rn (also because I'm SHORT)
for us to make a significant move UP imo we need to paint it on the 1h chart to rise some real interest because a lot f trader look at this TF and bigger imo...
Just to highlight that BTC appears to have have moved in to a ever-narrowing range between the 50 Exponential Moving Average and the 200 Moving Average on the weekly chart (remember the longer the timescale on the chart, the more significant the support/resistance ).
Please hit the thumbs up if you agree, or comment if you think this will hold any significance...
The bullish case:
BTC has not breached the weekly 200 MA and closed below it since September 2015.
The 200 MA offers huge level of support not only to BTC, but historically in stocks around the world.
The bearish case:
The weekly BTC chart has formed a bearish descending triangle, making the long anticipated move down to $2500 seem even more likely.
First, my preferred time frame is NOT the weekly, as it takes a great deal of patience to stick with your trade plan. However, I deem it important to understand the larger picture for this pair.
The bears have been on a tear this month and I expect that to continue, albeit temporarily. DO NOT lose sight of the bigger picture, this pair is still clearly on a...
dow jones came back into the channel in the ascending wedge pattern. The yellow zone created is between the 61.8 retracement and trendline. I expect rejection for a beautiful drop. must reject both for this to happen.
Simple and to the point. Happy Trading!
Need some snack food stocks. 5G chip manuf. QCOM at full retrace from recent rise. Buying some and setting 20% lower standing offer good til May.
Make you own decisions. Robotics, AI and other uses. Awaiting CCI pushing over 0 on weekly chart for strong wave up.