bobbysto18

bobbysto18 Updated 

Potential rebound coming in to the end of the week/early next week. Price may test the box another time, as it has shown to be resistance.

bobbysto18

Price has continued to make lower lows on the monthly, while the stoch & MACD indicators have continue to rise, which should imply bullish divergence. Interested to see how it plays out. If you assume price will hit the kijun-sen on the ichi moku before rejecting thats a ~1080 point movement.

bobbysto18

Since the COVID rebound () price has lived in a ascending channel testing the upper bounds until over-extending and surpassing current all time highs. Price has now rejected the upper bound of the channel, passing the middle and is coming close to the bottom. Looking at the ichimoku indicator we can see the tenkan-sen (Conversion line) is about to pass the...

bobbysto18 Updated 

Daily chart is showing a possible bearish reversal due to the divergence between the current trend and the ADX indicator. The Stock RSI is also showing a strong overbought signal (94.4,92.34), which usually proceeds with downward movement. One thing to mindful of is there appears to be a possible TK cross on the daily, which would usually imply a strong bullish...

bobbysto18 Updated 

SPX is showing bearish divergence on the 6H between recent price action (Triple top pattern) and the Stoch RSI indicator. The Tenkan-san can be seen about to cross the base line, implying a bearish reversal. A similar set up can be seen in the daily. In the past few days, price has trended bullishly due to a weak TK cross (Weak due to the fact this occurred below...

bobbysto18 Updated 

GOLD is showing a rising wedge pattern all the way to the daily, which suggests a bearish reversal. Usually in a wedge pattern, price will reverse for the movement from the bottom of the wedge to the top. This level also happens to align to near the .618 fib level. For confirmation I would wait to enter until we see price close outside of the bottom line in the...

bobbysto18 Updated 

Cautious call considering the volatility recently, but it looks like SPX500USD is forming a Head and Shoulder pattern on the 6H. The overall trend seems to suggest upward movement, but on two separate occasions price has been unable to break out of the historical support from March 2018. Coupled with the H&S pattern I expect a short term test of the local support @ 2491.

bobbysto18 Updated 

S&P 500 Bullish divergence for the short term.

bobbysto18

Pretty straight forward Double top setup. A double top happens when: 1. Their has been over extended movement in price 2. Price hits a peak point it cannot pass 3. Price is rejected from this level, bounces off (forming the neckline), before finally attempting this level one more time If this is correct, then price should proceed to fail to get support at the...

bobbysto18

BTCUSD is showing a head and shoulders which would imply a proceeding bearish reversal. We are only seeing the final shoulder start to form now. I believe price will meet the $7800-$8000 zone before being hit by resistance. Of course with head and shoulder patterns, I would hold off entering the trade till you see price get rejected (forming the final...

bobbysto18 Updated 

Seems to all I've been calling recently (particularly for BTC), but it seems to be the gift that keeps on giving. BTCUSD 4 hour is showing a head and shoulders which would imply a proceeding bearish reversal. To compliment this we can also see our 9 MA is about to fall past the 26 MA which means current price is breaking down. I would expect BTC to hit the pink...

bobbysto18 Updated 

There is a head and shoulders showing on the daily for ETCUSD, implying a proceeding bearish reversal. If you have followed any of my other posts, you will know I believe it is important to consider bitcoins trend when performing TA on cryptocurrencies (Particularly in a bear market like we are now). BTCUSD has been failing to get past the 1.618 fib I have...

bobbysto18 Updated 

BTCUSD daily is show a reverse head and shoulder which would entail a bullish reversal. IMO overall the BTC chart is trending bearishly and I would be very hesitant to enter this trade until confirmation of the neckline being broken in coming days.

bobbysto18

BTCUSD is showing an inverse head and shoulders on the 4hour timeframe which would imply a proceeding bullish reversal will occur. In the higher timeframes (day, monthly and weekly) I am still bearish with BTC.

bobbysto18

Pretty much a follow up from the short time framed analysis I posted yesterday. BTCUSD is showing a rising wedge on the higher time frames and thus we should expect to see a bearish reversal. We can always see price to start hugging the bottom trend line. Expect similar patterns on other major cryptocurrency pairs as BTC holds a whopping ~40% of the market cap...

bobbysto18

BTC has formed a rising wedge pattern that is about to follow through with a bearish reversal. BTC hold the vast majority of the market cap for the cryptocurrency market and thus you can see similar trends on other large pairs.

bobbysto18 Updated 

XRP head and shoulders showing on the smaller time frames. Previous test of the 1.618 and after being rejected looks as though it will be pulled back into the first fib level (0.0 - 1.0).

bobbysto18 Updated 

Rising wedge on the NZDUSD pair on the daily and the MACD is pointed to go right down. We can see the same situation with our 20 and 9 MA's.