Looks like a symmetric triangle is completing. Will price breakout up or down?
The recent bounce down off of the orange point of control line is bearish.
The bounce up off of the moving average is bullish.
Value looks neutral.
Accumulation/Distribution looks slightly bullish.
Rate of Change looks slightly bullish-to-neutral.
What do you think? $.30 up or down?
In the near term, expect a correction that might dip as low as the bottom price target followed a consolidation centering on the higher target of $36.
After Uber has finished its correction, expect it to target $60+.
Basis for analysis
Uber has finished or is finishing an Elliott Wave cycle Wave 1 following a leading diagonal structure. As depicted, the wave...
Other than being extremely overbought, BTC is also a sell based on Wyckoff Distribution.
Based on a method I devised to trade Wyckoff Distribution, I’ve placed parallel pink lines to indicate sell and buy zones, I’ve also placed a diagonal pink support line. Currently, BTC’s price is in my sell zone. If this idea plays out, then then BTC is going to drop to at...
Buy XRPUSD when price is in green box, sell when price reaches pink box, and set stoploss close to corresponding price of red line.
Max possible loss: 10%
Min possible profit: 43%
Why this setup?
Price will likely pump between now and 12 Dec because of the Flare network air drop, and we should expect for a massive distribution to ensue.
No solid judgement made here, but I would lean towards bearish if I owned AMD.
AMD looks overbought based on 4HR, Weekly, and Monthly timeframe Stochastic indicators. Even on Daily timeframe stochastic is overbought (depicted), albeit only slightly. I usually wait for Stochastic to breach 90 to be overbought. Meaning, could be a slight pump Monday. However,...
Edit: There should be a giant “1” at the top to indicate a cycle or supercycle wave 1.
I’m neutral for now. But, a lot of news about PayPal and BTCUSD at a time when many altcoin-btc pairings look set to rally and BTCUSD looks like it might capitulate. So, here’s something just to keep an eye on. The box region shaded pink is the most recent Wyckoff accumulation...
XRP has begun a new market cycle and, with a moderate confidence, we can expect XRP to reach a new ATH at some point this cycle. Last cycle followed an EW leading diagonal pattern and was probably a cycle wave 1. Currently, we should expect XRP to take on a more typical EW structure until otherwise indicated.
Market cycle psychology (MCP) and...
XRPUSD trying to play me for a fool but I ain’t no fool. Price looks to be continuing in a leading diagonal Elliott Wave. If this turns out to be a cycle wave 3 then I hope you each join me in ordering an astronaut suit because that would make the previous ATH cycle wave 1.
Based on chart, price is trying to end primary wave 4. I indicate W4 ending where the...
Bullish signal based on today’s closing price and volume.
Closing price was trending lower until today
Price closed higher than yesterday
Volume higher than previous 10 days
Price broke above 10 dma (cyan)
Price broke above 20 dma (blue)
Price bounced at about 50 dma (dark blue)
I love hearing a person describe the way they’ve performed something as, “common sense”. You should, too!
Ok enough jokes. Basically, I’ve used Zig Zag volume and RSI to identify possible EW waves. I applied Fibs to confirm a possible count as valid. I kept it up until found a count that checked all the boxes.
Edit: Forgot to mention I also used the mid line of...
Using percent scales zeroed at 12 March’s closing price and cumulative volume total, we see that, on 17 August, both price and demand (increase in cumulative volume) had increased. However, as of 13 October, price had decreased whereas demand had increased. In effect, we see a shrinking supply and growing demand.
For convergence, the volume line should increase...