We're no strangers to love
You know the rules and so do I
A full commitment's what I'm thinking of
You wouldn't get this from any other guy
I just wanna tell you how I'm feeling
Gotta make you understand
Never gonna give you up
Never gonna let you down
Never gonna run around and desert you
Never gonna make you cry
Never gonna say goodbye
Never gonna tell a lie...
This pennant has not signaled which way it'll break out, but it's imminent. A solid breakout in either direction would go about 3.5% from the break point, based on the size of the pennant.
If I had to guess, I'd say there's a higher probability of a downside break (long term charts, currently in a downtrend).
Please see my previous post for an explanation of the technical signals shown. The post is linked below.
In my opinion, this is the best way to utilize the technical information. My vehicle of choice would be SQQQ, which would give a potential profit/loss of 10%/-2.5%.
Nasdaq has been trending since the middle of May. It broke the trend on July 15th and checked the underside of the trend on the 16th. Today it completed a precise Fibonacci Retracement which coincides with a potential downwards channel.
This sequence highlights a Head and Shoulders reversal pattern which is nearing completion. Don't forget, the trend has already...
The price has broken out of the massive rising wedge and checked the bottom support that is now resistance. Volume and RSI both signal that the breakout is legitimate. Standard target would be around 30,000. This will probably be a violent move.
See my previous idea for more detailed info (linked).
This is my opinion, it's not advice.
The support near 53k is the only thing holding back a major correction. Please see my previous Bitcoin post for an expanded view. We are on a path to retest 53k overnight... and if it fails... look out below.
This is all my opinion, it's not advice.
Will the breakout be a rocket or a crash? I don't know yet... but, I have three great ways to tell when it starts and be able to jump in early to catch most of the action.
1. We're in a massive ascending wedge. These wedges can go either way, but they usually break out explosively. The action in Nikkei and Crude Oil during the middle of last year are two great...
Price has reached an appropriate height to fulfill the breakout target from the massive pennant earlier this year (shown in blue). Price has now broken downwards from the exit trend and has decisively signaled with breakout volume. RSI has diverged from the September high, and ROC has fallen below the 0 line for the first time since the October...
Here are 3 blow-off tops and 1 failed attempt which all occurred in the last 7 months. Successful completions are marked in solid black. The failed attempt is shown in dotted black.
On all 4 attempts, the price accelerated upwards to different degrees. Each target can be roughly measured based on the price move.
Notice how the failed blow-off begins closer to...
The current technical conditions are listed below:
1. The price has broken out of the blue pennant, but has not accelerated upwards, increasing the odds that it is a head fake.
2. The price has also broken out of the black pennant, and has also failed to accelerate upwards.
3. Volume has had an inverse relationship to price for the last two months, which is a...