showmethemoney7

showmethemoney7

I'm not bullish on BIST 100 index, and I was expecting 90K first but it seems the current structure wants something else. This is my best-case scenario. It breaks current resistance, hits 106K first, then starts its journey around 90K to form a huge inverse H&S. This might be the only viable option for BIST to go for new highs. TRY assets are all fundamentally...

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We have inverse H&S down there and clearly penetrated the years-long downtrend channel. Now it is kind of a flag formation we see on top of that previous channel, however daily and weekly RSI and daily MACD all want a correction. A correction which ends around 1360 would be mega bullish. Even if we go below 1360, 1333-ish numbers should hold the prices (with the...

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Weekly last 3 candles are all looking bad. Especially the current one. We have a double top on weekly RSI, plus hell of a divergence. (Such divergences are almost everywhere, including this daily graph) 11.280 was short term pivot, while 10.600 is midterm pivot that could trigger the main sell-off if we lose it. Losing 10.600 could potentially open doors for...

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GBPUSD is my favorite when it comes to benefit from DXY's weakness. I know, it is not fully ready to explode but it is priming. I also know there are tons of FA facts against it, but TA says we are quite near to the bottom. RSI divergence and descending wedge are some facts that favor possible GBP rally and even if we go to the previous low (light blue line) my...

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So far price was loyal to the descending wedge formation, and as expected, 200 EMA held the defense perfectly. Parabolic support also seems to be working. Next step will be conquering the 20 & 100 EMA resistances along with the upper line of the descending wedge formation. All these converged on the same zone (the area shown as faint white box), which made that...

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FX:EURGBP EURGBP will test the lows of its current channel, it is kind of obvious since the latest price action struggles to break out of its resistance zone and huge daily RSI divergence. Once 20 EMA fails to support the price, the collapse should begin. I expect 2 scenarios, possibly we will follow the white line. If GBP suffer from some Brexit related news,...

showmethemoney7

Hello all. For the last 2 days and today we are seeing clearly that bears are about to give up the control and bulls said enough is enough, time to take over the control. Look at the nicely forming inverse H&S at the bottom. Very nice for bulls. Also look at the 3 green arrows; 1) We have dived under the mega trendline but failed to remain there, which is...

showmethemoney7 Updated 

Possibly ETH will try to break its descending wedge, and test the resistance line of its current channel. Depending on the volume and momentum, it might break and begin its rally towards 1135 USD. If it fails again, it should test 470-ish area and its main trend support line. One way or another it will go up, don't listen the naysayers, ignore them and begin...

showmethemoney7 Updated 

Do you see the descending wedge? See the support coming from the previous lows? Yes, these are good signs to go long. Also notice that RSI already hit the low (oversold) and STOCH is also bottomed down. MACD is not ready but since its a lagging indicator, it is not a huge problem. You can see that the market is trying to end the current bear run. Just look at...

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XRP is also looking good, maybe not as good as ETH but still good. Unlike ETH (see my ETH analysis) XRP still has some way to go to penetrate its RSI resistance, but its MACD turned bullish, it has successfully brake its falling wedge formation and tested its support levels, and turned upwards. Now we have another resistance area here and we are also waiting...

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ETH trying to break its bullish triangle since yesterday. The first attempt failed due to insignificant volume and BTC's failed bull run. However all coins just tested their bottoms today, and ensured the market that they do not want to go any lower. Thanks to the proven support levels, we are now trying another bull run with greater momentum. Volumes are higher...

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BTC bulls now try to end the bear run, at least that's what RSI and Stoch says. Broken falling channel also demands at least one bull run to see if bulls are now strong enough to finish the mini bear trend. Possible scenarios are shown at the chart with blue arrows. I want to point out some facts, though. 1) Watch out for the RSI resistance zone (exlamation...

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Pound, euro, and silver are correcting against USD this week; which should not be a surprising fact due to their recent rallies against USD for some weeks. It is a healthy movement since their RSI indicators inflated too much. This week provides a great opportunity for such needed corrections thanks to the fact of FED meeting tomorrow which is expected to have a...

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I don't think DSHUSD is ready to break its ascending wedge. It will turn to test the upper line, then break its small rising channel to test the trendline itself, thus form an inverse H&S pattern. That should be enough to trigger a rally and break the wedge but if it fails, I think DSHUSD should test the previous lows (616 or so). That might also fail and in that...

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Like most of the coins, DOGE is healing its wounds and preparing for an upwards movement. After breaking its bull flag, it is now consolidating by forming a small bull flag and catching its breath just above the trendline (yellow). Soon it should break the small flag and try to go up as high as its pivot point. If volumes also support that movement, it can even...

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LTCUSD might either complete its current small bull flag and then break its ascending wedge to begin its next impulsive movement, or go one more down until it hits the trend line (yellow) and then go up or if the trend line can't hold, LTC might want to hit ascending wedge's support line one more time (around FIBO 23.60% , 126.05) and then go up. Nevertheless,...

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After breaking above its huge bull flag, XRPUSD was consolidating by forming another flag and might trigger another rally soon (as long as it won't return to the giant flag below, in that case we can see another drop towards S3) Why I have a positive attitude towards XRP? 1) There was a huge drop from its previous high, XRP is now relatively cheap. Cheap assets...

showmethemoney7

BTCUSD might be preparing for its long overdue rally against USD by forming an inverse H&S pattern. If that scenario works, it might also trigger BTC's giant flag and after some consolidations once it hits its short term goals, BTC can continue upwards.