Crazy bull run lately since May.
Elliott Wave 1-5, we could be near point 3.
RSI is definitely near overbought.
MACD still very strong for bulls.
ADX is looking like the blue line can go up to 60 before pulling back.
Stochastic RSI also looking like it is near overbought levels.
Just saving my idea so I can review later.
RDS.A is looking like it could be in the midst of a new Impulse wave upward, we could be looking at the peak of point iii, which retraces the 0.618 fib quite nicely from wave 0-a in the drop in Jan/Feb.
Prices have been pushing higher lately.
If we are at the peak of wave ii-iii, then we should see a price reversal down to $65 soon, down to point iv.
Looking at the TRONBTC Chart, I can see there is a diverging/expanding triangle, with an upward trend.
Support line is trending upward.
Looks like a clear Elliott impulse wave 1-5, and corrective ABC happened - traces perfectly the fib from points 5-a
It would appear we are in the middle of a second impulse wave i-v, and are in the ii to iii wave.
PEP clearly trades within an upward channel for a number of years.
Most recently it's hit $109, which is below it's channel support line.
Bullish for PEP.
Macro forces are strong, worldwide, and in USA.
RSI is showing near historical bounce back level (around 40)
Stochastic RSI clearly in the oversold zone, suggesting price will increase.
MACD is also...
Looking at BABA, it has definitely shown an oscillation with support at the $170 level for the past months (up to November 2017).
Resistance is coming from the last two highs, with expected resistance at $195 at point 5.
RSI is near the oversold level, currently at 36, crossing under to 28 April 3.
ADX shows the trend is near it's peak at 40, a crossover with...
The overall trend is down since Mid-March.
I used a pitchfork to determine the downward trending range, and it's easy to see there is a downward resistance line, every time the price tries to go above it, it falls right back down.
Price seems to be bounced by this pitchfork.
I'm just using this to record my hypothesis.
Price has dropped pretty dramatically since ~March 20 at the $180 level (point a)
3 downward waves completed (point 5), suggesting a possible ABC correction, which we are now about to begin a move upward (point b to point c).
Key support level from March 19th was $138, if we fall below $136, then this may fail.
Other Indicators suggesting reversal is coming:
Yesterday, I went long at $179.32 when I saw an Ascending Triangle with resistance at $192.
Price fell below the $175 level of ascending support in the Ascending Triangle, which perhaps suggest the Ascending triangle failed to work out.
Others people called that same formation a Bear flag instead of an Ascending Triangle because of the previous drop creating a...