Two weeks ago I made a case about how Bitcoin's short-term trend was depended on which Channel pattern of the following would prevail, the Channel Up or Channel Down: The price action emphatically showed that the Channel Up prevailed as BTC held the Higher Lows trend-line as a Support and bounced exactly on it. On today's analysis, I am making a case on a new...
DAX hit today the 1D MA200 (orange trend-line) for the first time since November 04 2020, which was the period of the U.S. elections. That was at the start of a very aggressive end-of-the-year rally. Right now the index is rebounding after having made a Double Bottom just below the 15040 Support. If we also consider the July 19 Low, then this can be treated as a...
Dow Jones is trading within a Channel Up that reached today its Higher Lows trend-line (bottom). But perhaps the most important development is that in doing so, it hit the 1D MA200 (orange trend-line) for the first time since October 30 2020 (the U.S. elections)! That alone is a strong buy signal itself but consider also the following: * The RSI bounced on the...
S&P has been trading within a long-term Channel Up ever since the aggressive rebound straight after the November 2020 U.S. elections. Today the price just hit the bottom (Higher Lows trend-line) of that Channel. There are two high probability scenarios arising after September's pull-back: a) This pull-back is similar to late February - early March 2021 (both on...
Those who follow me for quite a long time here on Tradingview and in the past on Reddit, know that I very often utilize fractal dynamic on my technical analysis. The most recent one on the 1D time-frame has been the following, which we can claim that it 'played out' quite effectively: I am bringing to you something different today, this time a longer one on...
Silver hit yesterday the 21.664 Support level of the 1 year Rectangle pattern it has been trading in since August 2020. Even though the price marginally broke it, if the 1W (weekly) candle closes above the Support, then the long-term Rectangle pattern remains valid. The 1D MACD shows we may be in a similar situation as with the November 30 2020 bottom. If so,...
The pair has been trading within a Channel Down since April 30. Today it is rebounding after coming the closest to the bottom (Lower Lows trend-line) of the Channel Down since July 20. This is a short-term buy signal on its own with a 1.3750 Target (the short-term Resistance). On a more longer term perspective though, we can see a similar fractal developing as in...
The price is now testing the 4H MA50 (blue trend-line) for the first time in a week. As mentioned on my most recent post, a 1D candle closing above 1747, would mean the start of a rebound. As you see the current fractal is trading on an identical pattern with the June 18-30 sequence. The diverging RSI (being on Higher Lows while the price was on Lower Lows)...
EURUSD has been trading within a Channel Down ever since the January 06 2021 market Top, so practically since the start of 2021. Today's price action has give 2 important benchmarks: a) it hit the bottom (Lower Lows trend-line) of the Channel Down for the first time since March 31 2021 but more importantly b) it hit the 1W MA200 (red trend-line) for the first...
The U.S. Dollar Index has been trading within a Bullish Megaphone pattern since late June and is now approaching its Higher Highs trend-line with the 1 year Resistance waiting at 94.750. This is a familiar pattern as the very same sequence has been formed back in June - September 2018. As you see both patterns formed on a 1D Golden Cross (when the 1D MA50 crosses...
The US10Y has been trading within a Channel Up until it marginally broke its Higher Highs trend-line yesterday. This happens to be exactly on the 0.618 Fibonacci retracement level and today we we seeing a rejection. Technically the 1W MA50 (red trend-line) has been supporting for months, with the most recent bounce provided on the September 15th low. We are...
On my most recent WTI Oil idea two weeks ago, I highlighted the importance of the Inverse Head and Shoulders (IH&S) pattern that emerged on the 1D time-frame and why the 1D MA50 (blue trend-line) was the 1st buy candidate of the current bullish leg: As you see the 1D MA50 worked perfectly as a buy entry and the upper Resistance targets have been hit. However...
Gold has been trading within a Channel Down since the September 03 High but lately a bullish pattern has emerged, a Falling Wedge. This is typically a bullish reversal pattern as then it's completed, the price starts to rise. The most recent Falling Wedge patterns were in mid July and late June. Both delivered a rally upon completion but currently XAUUSD...
BTC is close to the trend-line that started on the (hard body) candle of the March 2020 COVID crash bottom. Last time it got tested (July 20 2021) it held and initiated the strong rally of August. If we are in an accumulation phase much like May - July 2020 or September 2020, then as long as the 1D MA100 (green trend-line) is holding, Bitcoin should rise soon. If...
My gem, the Newscrypto Coin hasn't delivered so far the rally I was expecting as it followed the short-term bearish trade of the crypto market as a whole. I believe this failure is only temporary for NWC as the long-term fundamentals look stronger than ever with the company announcing an important collaboration that I will talk about in the Fundamental Section....
So far the 1D MA50 (blue trend-line) is supporting NVDA which has been inside a strong bullish trend since the March 2020 COVID crash. There is no better way to illustrate this than the Fibonacci Channel. However there have time phase of accumulation where the price took a breather from the prior aggressive leg, trading around the 1D MA50 and rebounding only...
This is an update to my April 2021 idea on the Uranium ETF: As you see, the price rallied following March's Golden Cross on the 1W chart and so far the 1W MA50 (blue trend-line) has been holding as Support (which was my biggest concern back then), offering a great dip buy opportunity on August 16. What's even more interesting is that the asset has been...
XPTUSD (Platinum) has had a strong rebound last week that started exactly on the Higher Lows trend-line of June 2020. The commodity may be repeating the 2020 pattern that lead to a massive end-of-year rally. However it needs to get past (break and close a 1D candle above it) the 1D MA50 (blue trend-line). As you see since XPTUSD hasn't closed a 1D candle above it...