dow jones came back into the channel in the ascending wedge pattern. The yellow zone created is between the 61.8 retracement and trendline. I expect rejection for a beautiful drop. must reject both for this to happen.
Simple and to the point. Happy Trading!
I don't feel AU is ready for the breakout at market opening tonight. On 4 hour chart, Stoch and candlesticks are already starting to show rejection of downward trendline which is the sell I'll be entering this week.
Will push to zone between .715 and major support at .70985.
It will consolidate there before approaching the over bearish trendline to breakout of...
Silver is at a major support (~13.9) and ready to move up. Divergence is showing, marked with the blue lines. Stoch is showing over sold, on the weekly too.
This pair moves slow so will set it up and forget about it.
If you don't want to enter now, do a buy stop at 14.308
After seeing a beautiful teacup/ cup and handle formation, I'm expecting a long position on copper. On the daily chart yesterday (8/20) copper had a bullish push. Entered a long position, and will be holding a swing trade.
Those are my projections. My entry was at 2.7151
scenario A: I will be shorting XRPUSD until in reaches the key level support zone ( 0.46700 - 0.45500). If it respects this zone and bounces off, then buy for bullish run. ( still needs to exit downward trend line before entering a second position for me). Stoch is showing oversold but I don't regard this info as helpful with crypto since extreme over sold/ over...
Looking at the pennant on the Daily, I believe this move will consolidate in the formation before breaking out the top. Once it reaches the downward trend line from the monthly chart, it'll most likely set up for a long term bearish swing trade.
The second option is breaking out the bottom and making the same movement down although I feeling this is less likely...