This is my overall thoughts on the SPY . I am bullish Long term. This bar pattern was taken from 2010 after the massive rally Post 2008 GFC. To me this makes the most sense!
If we start to close BELOW the 200SMA on then I would be a little more bearish , and if this were to happen I expect it to happen in August. Until then, BE BULLISH!
XRPUSD has been squeezing through this wedge for a while now, creating Higher lows and lower highs and creating somewhat of an inverted head and shoulders pattern along with a nice Double Bottom pattern. It's a no brainer for me. This time last year we seen Ripple do the same thing and break out of a triangle pattern in a BIG WAY! I am definitely going long here...
How to read this chart:
Orange Fib: Short term daily measuring the ABC wave structure
Blue Fib: Medium term daily measuring the last wave 4-5 retracments
Red Fib: Long Term daily structure measuring the full 1-5 wave structure
Personally I am looking to short this retest of the neckline of the double top on the daily (Orange 0.618 retracement) and look...
I have taken this chart pattern previous from the lead up to the "correction" we had back in February. We are now back at all time highs again, and all the newbies are most likely going to jump into the market because apparently we are in a "confirmed bullish market". People, be cautious. From my experience, when analysts are stating the "certainty" of the market...
AMAT in a nice distribution phase. Buy low sell high. Stop below the 100SMA on the weekly, looks delicious.
One could also look to Sell some put options down here or buy call options 3+ months should be fine on this one.