Exciting to see we have closed another 4hr candle aboe the descending channels top green trendline. We need to be cautious here...as the alst time we closed above the channel the very next candle instantly dropped down under it and it took us about a day before we had the momentum to rise above and close above the channel again. Watch for the channel line to...
Somehow the double reversal candles did not have enough volume to change momentum back in the bulls favor and this 4 hour candle appears to be finishing as a bearish engulfing candle....if this happens, that makes the day candle close as a bearish shooting star...which is a blatant signal to go short. The reversal candlesticks didn't have their usual impact this...
Great sign as the last 4hr candle closed as a bullish reversal candle...giving us back to back bullish reversal momentum after the candle before it had closed as a red bullish reversal hammer...with that you can see the current 4 hr candle heading back up to test the green channel trendline again. 3 hours until the 1day candle closes but as of now if it closes it...
We just closed another 4 hour candle in a series of retracement candles...this one closed as a red bullish reversal hammer so odds are likely that we will resume our climb. after making it up out of the channel you can see how they 0.00% grey fib retracement line acted as resistance despite the fact that we wicked above it twice. Once this retracement is over it...
It was exciting to have a 4hr candle both break above the channel wall and close above it However we always need a follow up confirmation candle to close above the resistance line as well for a confirmed breakout and as you can see that didn't happen. after 2 red candles closed It was obvious that this breakout has become at least temporarily just another false...
Anytime a Galaga battleship pattern fully ermerges it results in the ship taking you on a voyage to the moon and potentially forming a double battle ship which would put you even further into orbit, with not a single space invader standing in your path.
We've broken above the descending channel resistance! Above the highest grey fib retracement line and headed towards the inverted head and shoudlers neckline! THis is a MAJOR breakthrough! Let's see if it meets anynunexpected resistance along the way from here to the neckline!
Just a temporary short for the next couple 4 hour candles...only because the last 4 hour candle finished as a bearish engulfing candle...As you can see that channel trendline is a line of extreme resistance...the cp and handle has yet to hit its target price because of it...it will likely retest the channel trendline a couple more tiems and then eventually bounce...
On my last post....before the handle had even formed I alerted you guys to a potential cup and handle and said I was long. Sure enough what we have now seems to be a validated cup and handle pattern. The price has already climbed quite far but the true potential target of a cup and handle of this size should hopefully allow us to finally break upward and outward...
Thanks to the sudden burst from the bulls a cup and handle pattern is currently in play...which is just the type of thing we would need to be able to break above the descending grend channel top trendline which is necessary to break the neckline of the inverted head and shoulder pattern....We shall know if we have a cup and handle pattern on our hands within the...
As I had said a couple days ago in a previous idea the death cross of the purple and blue moving average lines was dangerously close to occuring and would either cause a plummet in price or could potentially bounce off as well. The probability was much more highly in favor of the cross happening and at the beginning of the current days candle the 4hr chart 50EMA...
Shown here on the 4 hour chart I have a dotted horizontal white line representing the neckline of the head and shoulders pattern. below that I have connected a yellow dotted trendline from the low of the first shoulder to the candles we currently have now on the 2nd shoulder. I also took a dotted white line and made it run parallel with the necklines slope...one I...
Ever since the bullish hammer spinning top 1 2 punch combo we've been on a nice up trend. yesterdays day candle finished strong right under the white 38.20% fibline ($10400) which was the previous 4 hour candle's line of resistance but has become the current 4 hr candle's support line. Yo can also see how the current 4hr candle dropped a wick down that bounced...
We ended the last 4 hour candle with a green bullish spinning top doji, which is typically indicative of a bullish reversal...so far the follow up candle has been acting bullish..it will need a little volume swell to really validate the spinning top but being that it occurred after a long downtrend close to where we are already anticipating the bottom of the...
This is a big deciding moment...the price wants to flirt with the support line of 9500 on the depth chart that I spoke of in the last idea. however we see the last 4 hour candle closed as a dragonfly doji, which is indicative of a bull reversal...the RSI is also approaching the oversold zone...9500 is also still the price dip that if it were the deepest dip of the...
Hey all just an update...I've pulled my btc position via stop loss last night at around 10490 but have decided to leave ethereum in for now as its doing well with robinhood...As the price continues to pullback the good news is an inverted head and shoulder pattern is still very much in play....however as you can see with the small yellow dotted lines that show the...
I fortunately set a smart stop loss before the plummet and am now in a great position to capitalize of this pull back. I hope you all set smat stop losses too. The pullback to the 900s allows for the top of the second shoulder to be as deep as the first which allows it greater probability to become the inverted head and shoulders ...if this indeed what this is it...
We got a welcome and relieving sign after all the carnage of the previous day a few hours ago at the end of yesterday's 1day candle...the downtrend on the 4 hour chart ended the day with a bullish green reversal doji, and we are now seeing what is so far a reasonable bounce up off of the multi support convergence of the 4 hour chart's 200EMA(in grape), 50EMA(in...