DewyCandles

DewyCandles

Two scenario here... after breaking out of the falling wedge price retested and couldn't continue the bull run hence, breakdown, which turns to a descending triangle. Right now there's no sign of reversal as volume is absent in the market and price could possibly poke out to touch the weekly support trendline. Hold while we keep watch and update you on the next move.

DewyCandles

On daily timeframe chart is forming a "descending parallel channel" If the candle closes below the major support zone of $0.74 then price will reach the weekly support zone of $0.5. Wait for breakout of the resistance trendline of the parallel channel or touch to weekly support zone to build a position.

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DewyCandles

Don't mind the audio quality & the background noise I didn't plan this just decided to share. One of the ways I figure out why a pattern fails and while my stop loss hit I fix it and make sure I recover it and even more sometime. Yea I know its not good to have that mentality of "I must recover, I can't take a loss" but as a professional you can fix it right on...

DewyCandles

If there is one thing I love about APE it is the way it respond to Elliot Wave analysis. Wave 1 ending at $17.298, wave 2 respected the Fibonacci retracement level of 0.786% at $9.505 then consolidated forming the a,b,c,d,e corrective Elliot wave 2. After breakout we see the 1.00% Fibonacci Extension perfectly at $19.580. (now this is where the trap occurs most...

DewyCandles

This is one of my invented 15 minutes scalping method whenever I find the "Ascending Channel" As you can see in the chart the point where price touches the resistance level of the channel (red arrow) is where to place a short or sell. While the point support level (green arrow) is the buy or long zone. This point are not just picked randomly, they are selected...

DewyCandles

Looking at our previous analysis on APE it breaks out earlier than predicted reaching it previous high and now it will retrace by 62% Fibonacci or 78% before we can see another uptrend. The next uptrend as you can see from the chart will test the new resistance level one or few time before breakout to reach the Elliot wave 3 which according to Fibonacci extension...

DewyCandles

EGLD has been on a downtrend and has retraced to $112 from the $545 peak. Now it is forming what we call the converging Elliot wave which usually happens at the end of a trend. As you can see in the chart it has respected the line and it is heading toward $190. The Stochastic RSI confirms this hence bullish. Place you buy around $150 - 155 and set your stop...

DewyCandles

Good analysis is not the one that is perfect but the one that has numerous backup plans to reduce probability to the minimal. Following XTZ for the past few days we have 4 different pattern in place the up trendline which failed along the line, the Wolfe pattern which was truncated, the ascending triangle which as well failed (got me remembering the old time rule...

DewyCandles

ONE on the 4 hours timeframe will likely repeat the previous Gann Fan move from 14th of March. We need the price to close with volume above the rectangle pattern. If it does the price will touch the nearest minor resistance ($1.33) and retest the rectangle then continue it uptrend movement. If not then we see a movement towards the bottom of the rectangle again.

DewyCandles

Interestingly one has tested the 0.78% ($0.11) Fibonacci level and has failed to break it so far. On the 4 hours timeframe (analysis above), a bullish engulfing has occur which means it is time for uptrend. The first target is the nearest resistance level of $1.7

DewyCandles

Tezos (XTZ) on 4 hour timeframe formed a Wolfe pattern and it is heading towards it first target of $3.22. The RSI indicator is also forming a divergence which supports it bullishness. The support trendline is good for building buy/long position a stop loss below it is advised but not tight to avoid being chased out of the momentum.

DewyCandles

APE is interestingly forming a corrective Elliot wave 2 pattern on the 4 hours timeframe. The "d" is the next resistance target after which a retracement to "e" (support) will occur before we could see a new "ALL TIME HIGH". You can buy around $12 - 12.25, set your stop loss at $11.82 and take profit at $13.10 - 13.4 for quick profit. If all analysis fails,...

DewyCandles

Overall trend on a daily timeframe is downtrend forming a descending triangle (black line). the major support line (0.78% Fibonacci retracement level is the $0.5546 on the other hand we are looking for a divergence where the "ASCENDING TRIANGLE" is forming. If it hold, price will breakout of the descending triangle and touch the nearest "local resistance" (black...

DewyCandles

1000SHIB is repeating the rectangular pattern as it did from June - October 2021 on daily timeframe. Keep an eye on it after breakout we will see the same huge uptrend. For quick profit, buy at the support (red) of the rectangle and sell at the resistance level (green) with a tight stop loss.

DewyCandles

#DYDX ANALYSIS (2 WAYS) DYDX is on a downtrend forming a descending channel on a daily timeframe, it is yet to make a new low neither is there any divergence on the indicator for reversal. The purple line also shows us that it breakout and retests hence reversal. Overall..., BULLISH However, the Stochastic RSI is at oversold region signaling buy. You can bag...

DewyCandles

#DYDX ANALYSIS DYDX is on a downtrend forming a descending channel on a daily timeframe, it is yet to make a new low neither is there any divergence on the indicator for reversal. However, the Stochastic RSI is at oversold region signaling buy. You can bag some at the support level and set a tight stop loss below it or wait for a divergence to occur.