Kazparov

Kazparov

Looks like X is setting up another move down the a weekly horizontal support level at / around $21. This level has held support since Apr 2021 and this represents a high probability zone for a long position. RSI is in a downtrend and while there was a false breakout above the downtrend, RSI has now broken below the key RSI level which has not been broken since...

Kazparov

Long term chart going back over a decade. Price has consolidated above the natural angle and has back tested it as support. Closed above the 100 month Moving average. Monthly MACD crossover which is a very strong long term signal in every asset. Pretty much the only MACD signal you can count on for long term moves. RSI in an uptrend as well. I am long...

Kazparov

Proctor and Gamble finally touched it's multi month weekly chart support at $126.71 There is also a multi year price structure back from the lows in 2018. Every touch to the bottom of this price channel has resulted in a big move up sustained over a many months. I am long call debit spreads targeting the swing trade zone of the down trend from the top or the...

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Link to orignal article

Kazparov

Bitcoin in a clear bullish ascending triangle. The previous ATH acting as resistance. The aggressive uptrend from Oct is still intact. Last week had a "look below and fail" moment. Price holding above the 20 DMA as well. Long term daily chart Price retested the .786 Fib in late November, found support and bounced twice. This area as well well the top of...

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Gold has a unique pattern in its daily Moving Averages 20 & 50 daily MA's are encapsulated within the 100 and 200, the short term ones are pointing down and they are all relatively equidistant. From what I can see this has only really happened a few times. April 1996 and it signaled a 3 year bear market with a 35% slide Happened twice in 2011 and 2013 after...

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OPKO came out of its slump in late September. It had been oversold prior and needed over month to build up momentum again. It went over two week rally of roughly 4-5% gain everyday. The rally stopped the down trend line from mid summer. Interesting to note the Oct 12 was the day of the 10 DMA crossed the 50 DMA. The PA immediately want lower to test the 50...

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Tesla continues to grind out bullish price action. Has made 3 consecutive symmetrical wedges in short succession. The first broke though Oct 1. The second broke and Oct 12. Now in the third. Price has come to rest on the Point of Control on the volume profile but has been steadily trading above it. This is the balance point on the market meaning that the...

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Been forming a symmetrical wedge since early August. Had an attempted breakout which failed on Oct 1. MACD narrowing, MACD line is now almost back to the lack of the level it was Aug 11 whcih was just before its earlier breakout New RSI support line is being created and it's come back again. Third touch to see if it is confirmed as support. Last two days are...

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IP broke out early Sept above the crucial resistance at $37.35 (April high) Also once it broke through $39 resitance line and shot straight into the low mid $40's where it became over bought The Long term down trend line (white line) did not offer resitance or support on either trip through it. There was some horizontal support at $40.21 which was the June...

Kazparov

IP finally broke out above the heavy horizontal resistance of $37.35 which was the April high. The move actually happened as the rest of the market sold off dramatically demonstrating IP is somewhat of a non correlated asset right now. The $37.35 line has now been tested and confirmed as support once on the daily chart. I sold my calls too early last week and...

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Yesterday closed above support on the downtrend line, first time that happened acted as Resistance on the daily. This morning had a failed bearish breakdown below support which quickly got bought up and went all the way to new resistance overhead. I got a fill on IP 101620 40 C at .40 and sold later for .65 so handy profit there for a 1 day trade. Have reset that...

Kazparov

Should always take a look at the end of the month on the assets you follow and chart out the monthly chart. RSI at a crossroads. The RSI is now at the resistance from the downtrend started in 2018. This is a likely a leading indicator to the future price which has not reached the trend line on the PA The more local red down trend line from the peak in 2019 also...

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As noticed yesterday XLF seems to be trading in series of H&S patterns. We've had a confirmed breakout of the IHS pattern it had been forming. It appears that the height of the breakout is equal to the previous head. I'm projecting this will run up to touch test the 200 DMA which is around $25.75-25.80

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Price action has moved mostly sideways since settling down post earnings. Seems to be following the diagonally price fork over the channel. Original Price channel is now highlight by orange and red lines. Currently the price cannot get through the orange line as it moves sideways Sideways consolidation is still bullish, as time is what will take the PA to...

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I normally don't trade off lower time frames. I occasionally chart on the 1 hour, mostly make decisions off the daily and 4hour. Today I happened to focus in on the 5 minute chart and saw what looked like a Inverse H&S forming on XLF. Then started tracking backwards and it looks like the whole PA has been one series of HS and IHS patterns since the correction...

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Every now and then I find it useful to erase everthing and rechart it with a fresh eye. Some of the recent movement weren't fitting into my chart. Have now connected the recent lows and highs back , creating more of an ascending wedge. Clearly the bottom support is well defined., although there have been multiple times where the price didn't challenge the...

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As expected IP not only fell to bottom to support (see my last post) but quickly rebounded on solid volume. Wasn't expecting a 5% day but it was on a sector rotation day. Note that the Bull pennant formed now has a clear separation from the red line downtrend. Still has closed below the key horizontal resistance at 37.35 which was the April high. Note as well...