LoveForCharts

LoveForCharts

As discussed in my previous posts, we were long the pair and advised entry in 3 tranches. 2 of the trades were executed at our levels and we also hit our TP at 109.20 levels... I had mentioned in my previous posts that 109.30 is an area of congestion and we can see that markets so far couldn't beat that level is around that zone. If you look at the RSI, bulls...

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In my previous analysis on AUD 200, we met our First Take Profit levels Our first TP level was coinciding with key Fib levels and as expected, we are finding selling pressure there. So I decided to go down to 4 hours charts, and to see if there is any cue there to see the expected direction. Following observation, 1. I drew a trend line on the RSI and a...

LoveForCharts

FOREXCOM:CHN50 showing bearish divergence where Price makes a new high and RSI fails to make a new high Open short position given the specs on the chart If you like, please share a thumbs up and your thoughts Cheers

LoveForCharts Updated 

China 50 creating a Ascending triangle formation, watch out for divergences going ahead on RSI and price action. Also, ROC over 0 In the positive direction may encourage upwards trend and otherwise in case of sub zero. Watch out for trends on movements We are approaching climax and breakout zone and in the Set up stage now . Interestingly, on Daily charts, CQQQ,...

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FX:EURAUD on Daily time frame has been largely in a sideways market for a long time and has now moved into a triangle set up, approaching the climax. We have seen in the previous analysis on H4 charts that price sitting below the 50 period moving average and chart showing a descending triangle formation, more likely a short setup, awaiting price action In the...

LoveForCharts Updated 

4 hour timeframe chart on FX:EURAUD Currently forming a descending triangle and price nicely testing the support and resistance levels approaching the climax. Price currently below the 50 period moving average, indicating possible resistance and downward pressure (likely short position on break of support) ADX not relevant in this as works best with longish...

LoveForCharts

S&P 500 breakout of the ascending triangle. Weekly and monthly charts both have an uptrend chart and are above the 30 and 50 period Moving Averages. I have added the RSI and Rate of change indicator and interestingly there are observations of bearish divergences in Rate of change for May and Aug 2019 as marked in the chart (ROC making a lower peak whereas Price...

LoveForCharts

As discussed in my previous post on this pair, you can see another formation on charts. Ascending triangle formation breakout on Both price action and RSI. ADX also gaining strength. breakout that has taken place may probably retest the new found support, look for a bounce back to see continued upwards movement. Very interesting times ahead for this pair.

LoveForCharts

Hi Friends , breakout on daily time frame on AMEX:CQQQ . Look at the breakout with the Green candle peeping out of the triangle formation. RSI and ADX both showing strength (DM crossover the DM- but ADX still weak, but looks like gaining strength. Watch out for possible retest of the newly found support line ( earlier resistance line) for a possible throwback...

LoveForCharts Updated 

Hi Friends, Look at this chart for NASDAQ:MSFT . Interesting to see how breaks on supports on RSI and identifying divergences may allow to identify possible good exits and maybe a avoid big falls. When you see divergences, go down to lower time frames to identify exits/ entry levels Chart is self explanatory. At this moment, price has moved into a rectangle...

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Hi friends… I love this chart… It tells so many things in one quick glance. This is 4 hour time frame chart. In the first case, 24th to 30th July, we see strong bullish Price movement, completely unconfirmed by RSI (bearish divergence) and then we see a sharp fall in Price (would have a good time to exit any long position at this stage, maybe even consider a...

LoveForCharts

Just as I put up this note, NASDAQ:ALXN has come out with the earnings figures and have come out better than the estimates, positive for the stock You can review my weekly and monthly time frame analysis in the previous charts I have shared. On the daily time frame, ALXN has broken the downward channel and will now move upwards to test the resistance levels. If...

LoveForCharts

OANDA:SOYBNUSD chart on daily time frame interestingly forms an inverse head and shoulder pattern and makes quick breakout upwards. We are yet to test the support and see if it can bounce of that levels. Currently its at a short term resistance zone where a lot of price action has taken place in the past. The story so far, we saw a dramatic and sharp fall in...

LoveForCharts

NASDAQ:ALXN , as seen in my previous analysis, is in a descending triangle formation on monthly charts and in the weekly charts, more likely in a rectangle formation, again bearish as price has moved into the rectangle from top and likely a continuation pattern, price most likely to breakout downwards. Will find strong resistance at the top as it coincides with...

LoveForCharts

Note : Pharma cos can remain bearish/ bullish for extended time frames as a lot of the movement is based on future expectations and trials. NASDAQ:ALXN has been in the descending triangle and has nicely tested support levels as indicated in the chart. Lovely similar formations on RSI and OBV, both confirming the downward trends Descending triangles are bearish...

LoveForCharts Updated 

Hi friends , some observations 1. 3 Triangle formations on the 4 hours chart time frame, all breaking upwards, creating a nice upwards channel 2. Close look at the RSI, shows the nice smooth upswing making higher highs and higher lows 3. Price first tried to break support channel of the upward trending rectangle, failed, and now has broken the resistance...

LoveForCharts Updated 

In continuation to my previous chart on XETR:DAX , there is a continuation of the bearish divergence. This a signal that price action is not appropriately being reflected in the indicators and may see a halt or correction Like I Said, I went through some data crunching and found the below interesting observations that make the current upward movement by DAX...

LoveForCharts Updated 

Divergences are a powerful way to identify trend movements/ reversal points alongside other indicators The chart of XETR:DAX shows a scenario in the recent past where we got a great bullish divergence where price made a lower low, not confirmed by RSI and in hindsight, would have been a great entry point Also, from where we are, there is a bearish divergence,...