Bitcoin on the Daily
Evening all, please find my daily chart on BTC for reference.
I'm still feeling bearish on BTC ever since we broke key support back on May 19th.
A series of lower lows, lower highs and broken flags have paved the way to the current price.
Note that the current daily support zone is close to $30K, so I wouldn't be surprised if we retest...
Looking at the chart today from BrainChip ( ASX:BRN ) I can see they it has a couple of potential directions from here.
Over the last week or so, the stock has been retreating back from its highs of close to $1.00.
Overall though, I can see 2 possible scenarios.
Holding current levels (which look good considering the 61.8 fib line placement) here...
Is the stock market going to crash?!?!
I reckon about 50 people a week ask me this question!
The reality is that we have never experienced this kind of crash before, we have never fought COVID before and we are seeing a huge amount of stimulus from our governments.
Even the most experienced traders and investors are struggling to predict the market.
I noticed on the daily chart today for APT that it has potentially broken it's uptrend for the first time since March 23 this year.
The breaking of the uptrend itself doesn't mean its the end of the world, but in my experience, it's certainly a warning flag.
The closest daily support I can find (no a lot to work with) is around $65.80 (marked on chart)
When I'm trading trending markets above the 4hr and daily timeframes, I often use trend angles to understand the rate of change as the market gets faster and steeper.
Today I'm going to use Gold as an example.
I have been trading this asset for a while as it has been trending well on a casual upward slope of approx 14 degrees.
Around July 20, the...
Morning TradingView fam :-)
Today I'm looking at Silver and planning my next move. It's moving in a strong upward direction, however I'm looking to take advantage of a short term pullback in the mean time.
With the approach to strong resistance, I'll be watching for reversal signs before I enter a short. As we are travelling in a big channel, these will likely...
I'm noticing the EURJPY is running into the overall daily downtrend right now and could be ready for a short if conditions are right.
I'm being relatively cautious about this one because it it could turn on me and push up to daily resistance around 121.4. Additionally, although this is a short, I'll only be looking to take profits down to the 61.8 fib mark,...
Hunting for a LONG on ATOMO ASX:AT1
I've been watching AT1 for a while since it came on the market and it didn't look attractive because it was so new and volatile.
However, I've since noticed that it's attempting to cross the downtrend line and also break up through resistance.
I must stress - important to wait to clear these levels before engaging. Yes,...
Looking for LONGS on GOLD
Gold looks like its breaking out of a bull flag on the 4HR so I've dropped to the 1HR to see what I can find.
I'm looking now for my next confirmation which is a break in key resistance at approx $1733.
A close above this level will give me a signal to enter a long here with my main target being the top of the flag.
Potential LONG for EURUSD??
I'm looking for a potential long if we can break and close above key resistance at 1.08134
We are testing this level now.
If we close above, this is likely my next trade:
ENTRY - 1.08142
Take Profit - 1.08514
Stop Loss - 1.07966
Risk : Reward - 1 : 2.79
I'm waiting to clear this level because I want confirmation...
Using Line Charts for Clarity
Today I wanted to share how you can use line charts for clarity.
When checking my work, I often switch to line charts to validate my own thoughts.
Today I was analyzing BTC and trying to determine direction from here on the 1HR chart.
After I mapped out my thoughts, I switched over the line chart to validate. Why do I do this?...
Is the next big crash starting?
I've been watching the S&P closely for the last month during our recovery phase. It's been a great ride up, but today it's starting to look like the cracks are once again forming.
The below analysis is as I see it. This is not advice. Please do your own research before entering any trade.
Signs of a potential...
Beginner Technical Analysis 101 - Support and Resistance.
When you are first learning to trade, the charts can seem very daunting. I wanted to share with you a quick lesson in market structure that will help you understand a few things.
You know how you don't see any nice cars around until you buy a nice car, and then they are everywhere? Actually they were...
Technical Analysis Education:
ASX200 (ASX - XJO) Weekly Chart
For those of you out there who are new to trading, I like to keep my TA simple and clean. I also like to look at the bigger picture to understand what's happening right now. There can be a lot of confusion when an event such as a market crash happens. We can be reactive and emotional, which is...
Team, I've got my eye on this trade if we can break above current resistance.
REMEMBER - we need to close up above resistance before this trade is active, otherwise there is a risk of rejection and breakdown.
ENTRY - 0.0005001
SL - 0.0004682
TP1 - 0.0005544
TP2 - 0.0006124
TP3 - 0.0006858
Take Profit Goal - 36.83%
Stop Loss - 6.38%
I'm keeping an eye on LTCBTC at the moment as it has broken out of a downwards channel. I am expecting a pullback to support before we move higher. Most of the market is looking bullish at the moment, so this will help. At this stage it's just on the watchlist, but we will look for an entry.
ENTRY - 0.00707212
TP1 - 0.00850979
TP2 - 0.00980297
We are looking at potentially up to 20% profit if we break up and above $20.80.
DYOR carefully on this stock as it has the potential to reject off this trend line and fall back to the $17-$18 levels. If that becomes the case, we can re-assess entry.
Comments and feedback always appreciated!
POE has been moving in an ascending triangle, respecting trendline support.
We are currently waiting for a breakout through the top right corner of the triangle and through horizontal support.
It is important not to enter trade until we have confirmation.
Risk : Reward is always 1 : 3 with my trades, but you could make your Stop Loss even tighter and go for a 1...