Since most don't understand what an ABC correction is or how to visualize it, i have a few examples here in the chart. As you know, my first assumption since the 3200 low an ABC correction up and NOT the start of a long term uptrend. Simply, because i think it's better to judge it on the way up to see how things go first. Before thinking wave C is actually wave 3...
Previous analysis xrp' was too weak during it's drop so i decided to wait (as i updated). Now i am still waiting at this moment. From the looks of it, we will probably make another drop. If it will be the a similar size as today's drop, it could work out. Volume inside that small channel/wedge is dropping a bit as well, which is a good sign. But anything below...
The 0.9080 got rejected again, which is also a big resistance area. On the right we can see another small H&S which has triggered a small drop so far. There is a good chance a big wave down can happen the coming weeks, so i am going to take on this trade here. I will start out small and i will increase it on the way down, with the first time if that green one on...
The previous trade went through the stop today, but now when looking at it, it's also not breaking up. It has formed a bearish wedge and it is still below that red resistance zone on the left. Therefore i am going to short it again. I will close 30% around the yellow circle, will move stop to entry as well when we close in on that target and i will let the rest...
Nasdaq seems to be in the making of a double top pattern. But it is very important that the bear flag on the right plays out. Otherwise, the double bottom pattern gets too big if the neckline does not break within a day or 2. We had quite rally already the past weeks, so we should see a correction happen soon or a continuation of the bear trend. If the double top...
I have been watching this one the past days to see if the double bottom would play out or not. Now the small inverse H&S on the left, could be the confirmation of that pattern. If that neckline breaks and we see a good rally, the chances will increase a lot. If this H&S fails, that green support could still keep it alive, but below that support, it will become...
I am going to try a high risk trade here. Looks like a small parabolic move up which seems to be ending now. Made a break up from that wedge but looks like the breakout is already failing. I am going to close 30% around the yellow, another 30% around the target and i will let 40% run. As soon as we brake the support line of the wedge, i will lower the stop towards...
If i see the green support zone break, i will try a short here. I will wait a bit to see if it does not wick back up again. The 5m chart can help with this. Previous analysis:
Amazon made quite the bounce up the past weeks after the inverse H&S i posted a few weeks ago. The rally has been quite strong, so based on that, there is a chance this H&S might fail, but at the moment the neckline is already about to break. The target is the yellow zone if the neckline breaks. Previous analysis:
So after that channel on the right broke we got a decent drop today with good volume as well. However, what that candle does not show, there was a lot of buying volume as well after the last dip. So i am still open for bullish and bearish scenario's at this point. So that big ABC correction i have been talking about since the 3200 low in Dec, is still in play...
So far this one is moving as described in the previous analysis. The H&S played out, the bear flag broke, but still no big dump. Making the bullish version of this analysis in full play. As long as we stay above the green zone, it could play out. What we want to see the coming days or so, is movement between the 30.5 and 32.5ish. That would be the ideal scenario...
It is starting to look like a real fractal for XRP', with the movement of the past weeks looking like a bullish wedge (when zooming out). With the orange zone being similar, not in shape but a similar stage it was in. Also the thick blue line, with a prior lower low and where we should see a higher low forming now. When zooming in, it doesn't look like a typical...
On the right it looks like a small H&S in the making. We had a break of the neckline earlier today already, but the whole market made a stop hunt move and went back up. Because of all the fake moves lately i am not trading the H&S, unless i see some normal movement and not a short/long squeeze. What i am looking for is the bigger picture. If we will see a move...
Now we have a daily close below the neckline, but still no volume on the drop though. So it is not meaningful at this moment. Still not strange, because we could still see a pullback and THEN make the real drop. But as long as we don't see high volume, it usually means something else is going on and that we could see a counter move at some point. Because the...
Where it looked like it was the yellow circle, it eventually became the lower one. Like anyone can make any sense out of this low volume sideways sh.t show :). It is clear, this are all correctional moves, just difficult to pinpoint if it is from the moves down (meaning after correction dropping more) or if it is the bigger picture from the right, meaning all the...
I posted something about this a few weeks ago. I said i would do some more research about this, but unfortunately i did not have the time to do so. I have been keeping an eye on it though. You can not see it clearly on the chart on the left, but the price difference between the Bitmex price and mark price, has been decreasing the past weeks, slightly more each...
On the left we can see a big inverse H&S for oil. I had many questions the past weeks about this one from my members. The all got the same answer: The shoulders are too small, especially the right shoulder. There are always 2 important factors to take into account when doing TA or determine waves, those are time and price. Meaning, the right shoulder could have...