cosmicnexus

cosmicnexus Updated 

Looking at potential support-restistance levels, studying some double tops/bottoms, and a currently emerging possible double bottom which probably does not provide a good trade entry point unless the bottom sets in much lower than where it is on the chart at the time of study. Ideally would like to see it down closer to the level of support below for a good...

cosmicnexus Updated 

Comcast (CMCSA) recently was challenged and turned back by the 1 level on the Fib's scale... it then quickly retraced all the way back to the 0 level which has held thus far with two retests. Given the current longer term trend is strongly bullish, I would expect CMCSA to head back to the 1 level and attempt going higher. If it breaks through the 1 level as I...

cosmicnexus

A simple plotting of likely support-resistance zones on the WMT 1W chart. Note that resistance becomes support and vice versa, this is called a support-resistance inversion.

cosmicnexus

I noticed this pattern of similarity looking for other times of BTC consolidation with a similar MACD pattern. There are a great deal of similarities in the pattern on this chart to what we see now for July 2020. It will be interesting to see if we get BTC moving up across the middle BB tagging the top BB and breaking through it if we also see the end of the...

cosmicnexus

Given the lower highs and lower lows as shown in this study, in the shorter time frame I'd expect to see resistance holding stronger and support more likely to be weaker where it might give way some new lower lows should this same momentum continue. This could provide excellent opportunities for trade entry points going long.