US Crude oil has seen a bit of a run up to the trendline and has now put in a strong divergence on the 30 min chart and is overbought on the hourly. We also now have a lower high on the hourly charts and moving averages are still sloping downwards. We could see a retracement back down to the low of the triangle and a fakeout breakout before a move higher. These...
One thing is true the market moves in waves. The dow has now bounced of major support at 18200 and put in an inverted hammer reversal candle formation. 21680 is the first major resistance and an obvious target. Stop just below support. RSI is now pointing upwards and daily MACDH has triggered a buy signal. All the talk of major stimulus deal combined with...
BTC death cross is imminent (50DMA crossing the 200DMA), with a rising flag reversal pattern as well. Good time to short with the hourly 50 and 21ma starting to curl downwards. Better to short now inside the rising flag pattern than after the breakout to the downside as things can get choppy. Profit targets would be down near 3.8k and as we fall.
Gold looks good for a move upwards with RSI and MACDH divergence and a long legged doji reversal candle. We could be seeing a kind of double bottom, so a move up tp the neckline would make a good profit target. As usual I will be taking profits on the way up if any negative signal comes along.
BTC looks good for a short trade. I will look to take profits at the break of the rising wedge reversal pattern (and some before as well). Nice divergence on the RSI to, longs have run out of steam I think for now.
BTC looks great for a strong move up to the H+S neckline and above to maybe 9000 area. 4 hr MACDH divergence with a nice candle and downward falling wedge reversal patten
With all the terrible news in Italy and the UK looking set to move phase 2 soon and start shutting down schools and all large public gatherings (clubs, gyms etc will be next same as Italy) within the next couple of weeks, the flag extension of 5000 points to the downside looks a really possibility. The 200 week MA is 3000 points lower that seems a likely target in...
Bitcoin has put in a nice divergence on the 1 hour MACDH after the head and shoulders breakout. Will we now see a retest up to the neckline? Good profit potential and a tight stop loss at the low.
What we have to remember is that BTC has a golden cross in place, where the 50DMA has crossed the 200DMA. Lots of analysts are calling a head and shoulders pattern reversal here (we could also see an inverse cup and handle formation) but I'm calling that fake news. In a true H+S pattern the slope line should be pointing downwards not upwards and certainly rarely...
BItcoin has retraced into support following the rising wedge reversal pattern. Daily technicals still say buy and hourly MACDH has just generated a buy signal (with moving averages all crossed to the upside). I'm entering longs again here now. Its possible that we may see some tomfoolery and a wick down or some lower low with divergence before going back up so...
With decreasing volume going into this flag, the resistance at the top of the flag looks set to be broken. I like how we will be powering through a strong MACDH divergence as well and I'm expecting a strong break now that BTC hasn't sold of much. The height of the flag pole is around 500 points which takes us up into the main resistance area above. This should...
The dow has retraced back into support and with the hourly moving averages so far above the bottom of the double top breakout pattern I would expect this to be a fakeout and am going long. Nice potential gap fill of 700 points as well. More upside potential to retest resistance at the top of the double top as well. Join me at breakoutfakeout.com, follow and...
The dow has put in a higher low on the hourly chart. Combined with the long legged doji reversal pattern and MACDH uptick it looks like an OK long to take, considering the bullishness of the daily charts. We had a big gap down today so I would expect a gap fill tomorrow. Decent trade with a stop just below the Doji, nice profit potential to test up to the resistance.
Looks like a strong divergence on the 30 min MACD histogram. Combined with the rising wedge we could see a pullback to support. I've closed 50% of my longs for a nice profit and will look to add again on a pullback or if the 30min MACDH ticks up again. Most breakouts end up in fakeouts so I'm not holding on too strongly to the idea of a rising wedge. Any decent...
Bitcoin just put in another higher low on the hourly charts, combined with a fakeout of the symetrical triangle and a bounce of the 100 MA in oversold area. With two higher lows in place I'm expecting a move up to break the 8970 mark and maybe up to 9270 in the first instance then beyond. It looks like a golden cross is also forming on the hourly moving averages...
BTC put in a higher low on the hourly chart bouncing off a support area following the downward falling wedge reversal pattern. We can expect a move upwards again to reset resistance above. Its possible that we may still see a breakout fakeout below the rising trend line which will shake out weak hands with stops above 8400. The 4 hour MACDH is still on a sell...
The dow jones put in a dragonfly doji on the daily charts on Friday of last week. Good reversal signal in a downtrend. After all that heavy selling will we see some upward momentum now fear is at its greatest? Prices are so far below the 200DMA and with all those moving averages still crossed to the upside seems like a low risk high probability trade for some...
Bitcoin has just put in a bullish gravestone doji candle on the daily chart, which is a bullish indicator especially as prices are so oversold and trading underneath the 200DMA after a golden cross. In addition we can see a falling wedge on the charts (see 4 hour) which indicates a reversal is coming, some might even say a double bottom. I wouldn't be surprised to...