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Been out of town and offline with little to no trading/charting in the last week or two. Figured I'd take a look at the daily chart so I can set some longer term limit orders until I get back into trading. I could probably explain this chart, the trendlines, and the unmarked elliot and fibonacci analysis I did but that'd take too long.
If you wanna see that stuff ...
In my last post I showed you the more or less parallel support/resistance lines that I was watching in the short-term as price continued descend to that important bright red trendline. Got close to it but not all the way down... yet.
I extended the lines that kept the downward staircase pattern. On this 1-hr time frame you can see in hindsight of course that ...
Woke up to find a 400% ROE on my Bitmex position and that Bitcoin's chart looks to be finding resistance underneath the dotted red line which is a long term support line which we just broke down from a couple days ago.
The white lines are just support and resistances that were locally useful as the dip became closer to the bottom. They can become support now and ...
The purple line is the ETHUSD price overlayed short volume in the last 9-10 months
Looking at ETHUSDSHORTS which shows the amount of Ether used for open short positions on Bitfinex has spiked enormously in the last couple days. This charts data, going back nearly a year, clearly show us that there is a huge amount of Ether that has been "artificially" taken out of ...
Quick look at the shorter, 1-hr timeframes. Not a whole lot to say or analysis to go off on the short term for Bitcoin so kind of just a hypothetical.
Bearish mid/longer term and the symmetrical triangle consolidation right at an important long term trendline (dotted red), isn't making me any less bearish. Buuuuut... we've seen this before not too long ago and ...
Semiconductor chips has broken above the horizontal flag it's been in since the strong rally off recent lows. The index ETF charted here, SOXX, was up over 13% from the 4/25 to 5/14! Today breaking out above resistance around $188, SOXX is up nearly 1% and with steadily increasing bull volume last few days.
Roughly speaking, looks like the SOX is in an ascending ...
Could be continuation, buy maybe not, who knows.
Updated the key levels I'm watching for potential bounces, reversals, consolidations, etc. on ETHUSD as we wait for consolidation to end after heavy selling last couple days. The last chart I posted showed a channel, which I was surprised had broken down so quickly and violently just after already strong bear moves. Volume is spiking here on the daily chart.
ETH bouncing off my lower channel trendline purple. It's hard to say if it'll make it back up to the top of the channel.
Perhaps it can only bounce to the dotted red line which is an equilibrium level recently and historically. May not even recover that high though!
78.6% Fib Retrace level also seems to be providing the support (so far, 4-hr RSI deep ...
If the inner pattern plays out (purple), the outer (cyan) might be more likely to happen, which would increase the likelihood that we've bottomed out long term.
DISCLAIMER: This entire idea becomes meaningless if breakout above 8400-8500 doesn't occur in the next couple days.
Same pattern here that I covered in MSFT, CSCO, and ADBE. All are still consolidating at the breakout level, except for ADBE and IWM.
IWM is soaring higher today after finishing a short consolidation period at the breakout level of around $160. I put some Fibonacci lines to show how it bounced strongly off the top of wave 1 around $158.15.
Since that low on ...
Noticed a Inverse Head and Shoulders pattern looking formation here.
The 50 and 200 MAs also looking to converge around the neckline on 4-hr chart.
The neckline at $15 seems to be important, it has held support after a sharp bounce from the lows in the '08-'09 crisis.
If it can't hold above the neckline, some serious selling could occur unless fundamentals ...
Similar breakout setup to CSCO and ADBE.
Adobe's leading out of the triangle, I suspect both MSFT and CSCO are gonna follow suit in strong way.
MSFT's an all around solid company, not much to say other than they have huge influence on the sector and aren't failing to innovate. Azure Cloud platform is challenging Bezos' cloud at AMZN, the Windows OS will be ...
Correction? Not for Adobe! Ahead of the curve on the same breakout setup as other names like MSFT and CSCO.
ADBE has the story, the ideas, products, etc. for the digital future.
+ Cloud Integration?
++ Digital Media?
++ Barrier to Entry?
- Overdone Media Attention?
Adobe's been crafting their monopoly on digital media production tools by ...
Cisco, it's got the story. It's got the upcoming earnings .
Besides the technical charts showing strength, it's attractive and I'm surprised I haven't heard a lot of news coverage given earnings coming up.
CSCO 0.72% has the cloud thing going on, it's got the telecoms aspect in a digital way that integrates with its cloud and enterprise solutions. Having that ...
My last BTC post mentioned the running triangle formation signalling continuation just after price rocketed upward on 4/12. That continuation eventually reversed at the dark red resistance line.
I've noticed the same running triangle pattern may be forming on the larger consolidation we're going through right now. FRACTALS!
Just for education purposes, the ...
Hey everyone! I've really been enjoying creating charts here, lately i've had lot of luck using trendlines, fibonacci levels, patterns, etc when it comes to crypto. Posting my charts helps me to be more accurate by explaining stuff out.
So if you've got some alternate chart layouts or different TA methods, comment below!
So BTC here.. In my BTC post from a week ...
Not a whole lot of technical stuff here, ascending wedge is tightening on price range for the Nasdaq100 Futures chart. Which would suggest a breakdown incoming. NDX being a tech sector barometer, has fared better than the SPX and DJI in the recent volatility whipsawing, if it makes lower lows we could see some issues with the rest.
Whether this means that this ...