After breaking out of the monthly downtrend( market by red trend line ) in Aug of 2019 Gold has returned 25%
Is possible that Gold will find resistance on old ATH(all time high) and resistance of channel 2 around $1900
Upon a rejection from this resistance a short position might be profitable untill $1500( conservatively)
SInce Gold is a horrible hedge...
Channels 1, 2 and 3 are of equal distance.
Yellow lines are the support and resistance of channels.
Blue line is the resistance on the weekly chart.
Red line is the resistance of the monthly chart.
With that explained let's analyse it:
Bitcoin broke out on the monthly chart in May ( marked by the red line ) pushing by resistance of the weekly and of...
In this chart the channels 1,2,3 are of equal distance.
On the week of Feb 24th REGN broke out of the channel 1 and within the next 4 months it proceeded to gain over 50%.
It did break out to a new All time high(ATH) as well , and momentarily had broken out into channel 3.
This week (06/22) we saw that the perceived support of channel 3 didn't hold....
FB seems to be getting out of favor with advertisers and the trend is picking up momentum.
After testing the 50MA on the daily on increased volume FB could attract technical traders looking for a swing trade.
FB could test $232 on a upswing , that will coincide with resistance of what I call : time and space zones( more on that later)
A rejection from $232(...