Last time I analyzed WTI Oil on August 24, I made it clear that it was trading within a long-term Triangle and until it broke, its price action would be sideways: I stressed out the importance of the 1D MA50 (blue trend-line) and the Lower Highs trend-line of that Triangle. Well as you see on the chart, WTI Oil got rejected exactly on that Resistance level...
Pattern: Channel Up on 4H. Signal: Buy as the price hit the bottom of the Channel Up and is close to the 4H MA200 (orange trend-line) which is a strong Support. Target: 1845 (Higher High of the Channel Up and the 1.382 Fibonacci extension. All previous 3 Higher Highs have been around the 1.5 Fib extension). Most recent XAUUSD signal: ** Please...
Pattern: Channel Up on 4H. Signal: Sell as the price broke below the 4H MA50 (blue trend-line) for the first time since August 20. Also the price action and the MACD is similar to the July 15 consolidation which also led to a pull-back below the 4H MA50. Target: The 1D MA50 (yellow trend-line), which has been the target of all corrections within the 12 month...
** The Channel Up and Fibonaccis ** Bitcoin is trading inside a Channel Up on the 1D time-frame which has been lately supported by the 1D MA200 (orange trend-line). Since the uptrend started on the July 20 low, the price has filled all major Fibonacci retracement levels except for one, the 0.786 (which is roughly at 54420). That would make an ideal technical...
My most recent Gold signal was on the short-term time-frame of 4H: This time we have a significant technical development on long-term and I've moved us to the 1W time-frame where XAUUSD just broke above the 1W MA50 (blue trend-line) for the first time since the June 14 weekly candle. Closing the week above this level should be enough to restore the bullish...
ADAUSD has been one of the best performing cryptocoins since the market made its late July bottom and started to rebound. It is one of the few coins and the only high cap that broke its pre May correction highs. As you see on the chart, the pattern since mid May looks like a Cup formation. The same pattern was last seen from August until November 2020. On that...
EURUSD formed a Golden Cross onthe 4H time-frame (4H MA50 crossing above the 4H MA200). Trading within a short-term Channel Up (dashed trend-lines) this could be quite a development ahead of the Nonfarm Payrolls as last time a similar combination of patterns took place, was on April 15. That sequence extended the rise after the Golden Cross and the 4H MA50 (blue...
Today Bitcoin is about to complete the 2nd straight green month. Is such feat possible to be in a Bear Cycle? The answer is yes, it is possible but based on this simple chart, not that probable. And the reason is simple. Out of all three past BTC Bear Cycles, we've only had 2 straight bullish monthly (1M) candles once and that was during the 2nd Bear Cycle on the...
S&P500 has been trading within an almost 1 year long Channel Up ever since the U.S. elections. The pattern has been quite consistent especially in "buy the dip terms" as every hit on the 1D MA50 (blue trend-line) has been an optimal buy level for so long. That has been the strongest aspect of my strategy, last time I shared it was on July 19: Right now the...
Pattern: Channel Up on 4H. Signal: Buy as the price rebounded near the 4H MA50 (blue trend-line) and even though there is still room within the Channel for one last low, the 4H Golden Cross that was formed may bring higher prices without it. Target: 1829 (just below the 1.236 Fibonacci retracement level and the 1832 - 1834 Resistance Zone). ** Please support...
WTI Crude Oil posted last week the strongest 1W candle (+10.30%) since May 31 2020 (+11.44%). What can this possibly mean for future prices? Alone nothing. But as you see, last week's bounce came after a 1W RSI touch on the 43.50 Support which has been holding since May 2020 as well. That makes the bullish case stronger but based on the September - October 2020...
Those who follow me since my start here on TradingView or even way back on Reddit know that I am a big fun fractal comparison. I have been using this approach extensively especially on long-term technical analysis and more often than not, proves to be quite efficient. The fractal comparison I am bringing to you today is again a long-term one on Bitcoin's last 18...
DAX is ahead of critical crossroads as the long-term Channel Up (blue) that was formed after the November 2020 U.S. elections is on its last leg (d) before the aggressive rally that last time (March-April) led to leg (e). If this pattern is not repeated, then there is a new Channel Up (orange) that may continue this uptrend but in a more controlled, less...
Pattern: Channel Up on 4H. Signal: Buy as the price made a rebound on the 4H MA50 (blue trend-line). Target: 35900 lower risk (just below the Higher Highs trend-line) or 36500 higher risk (a roughly +5.50% extension top from the MA100 low). ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **...
Following my most recent analysis on Nasdaq (see chart below), the Channel Up where the index has been trading on for almost 1 year, has traded to perfection: At the moment, the price is trading exactly on the top (Higher Highs trend-line) of the initial Channel Up (blue) and if broken, a new Channel Up (red) may emerge on a marginal divergence. This brings...
The recent break-out has turned Bitcoin’s sentiment bullish again, at least on the short-term, but what about the long-term? On this analysis I am looking at the long-term price action, particularly since the benchmark of our times, the COVID market crash. In doing so, I have applied the Fibonacci extension levels (log scale on the chart). ** Fibonacci levels...
Pattern: Channel Up on 1D. Signal: Sell as the price hit the Higher Highs trend-line (top) of the pattern. Target: 90.000 (the 0.9 Fibonacci retracement). ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **...
Pattern: Channel Down on 1D. Signal: Buy as the price is near (a) the Lower Lows trend-line (bottom) of the Channel, (b) Support 2 and (c) the RSI is priting a HL pattern similar to the previous times that a rally was followed. Target: 1.2100 (just below the 0.786 Fibonacci retracement level. ** Please support this idea with your likes and comments, it is...