POINT OF CONTROL: Relevant increase in volumes associated a long black candle.
Triangle formed with a very small gap to be still filled.
Price outside the triangle and below the oblique resistance.
Bulls seem to have enough for now at least and bears are trying to come back in control.
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from the 1800-1900 area, I do expect a strong fallout for the German Index.
Descending volumes associated with the last ascending phase.
Retail traders are buying what the smart players are selling to them.
Sp500 is working the oblique support. The rebound which has taken place from Mid-March should not be surprising due to the extreme volatility we have experienced from late-Feb.
Sp500 is now trying to stay above the oblique support. However, if the index monthly closure (April) will be nearby the oblique support, we should expect a hard sell-off during...
Analyzing the CadJpy weekly chart, cycles are clearly visible. As we know, in order to detect cycles, "Lows" are always more useful than "Highs".
Last "Low" was marked at the end of August 2019, which allows us to project the new "Low" between March and April 2020.
In fact, on average, the cross seems to hit a new "low" between the 8th and 9th...
Based on historical data, when the index hits the upper band on a monthly time frame we do usually experience a retrace.
What we cannot assume if it will be just a retrace of the long term bullish market or the beginning of a bearish one.
What we do know is that, statistically speaking, we should expect a movement downwards for the upcoming months.
Also to be...
Ascending triangle for BITCOIN on monthly chart: Breakout now or late in 2020?
Let's wait and in couple of months we should have the answer. Normally, we see 3 touches of the descending trendline before a breakout.
This one is just the second relevant one.
So before jumping in, let's wait and see if we will have a strong breakout upwards. There are also risks...