dow jones came back into the channel in the ascending wedge pattern. The yellow zone created is between the 61.8 retracement and trendline. I expect rejection for a beautiful drop. must reject both for this to happen. Simple and to the point. Happy Trading!
Ominous portents. Broadening top in September led to the microcrash in October and US Equities have been struggling since. November usually one of the best months for stocks, has only been a down month in 3 years of past 20; those were in Bear Markets... Some very fine textbook chart formations appearing over past few months. The Zig-Zag Correction has led to...
#ETH We hold the long-term Long Ethereum, but in the more short term the situation looks like this: we are approaching the upper edge of the descending channel; there can be an impulsive breakdown, after which there will be a logical rollback to support, in the role of which this upper bound will already act. If this is not a false breakdown, then after the test...
#BTC The nearest scenario for Bitcoin might look like this: we are within the rising wedge, which is a pattern predicting a further decline, but the current state of the market indicates the possibility of continuing to move within this wedge. Therefore, we can approach a tight resistance range, around 6900, from where the price should begin to form a decline. If...
#EOS We form a triangle, we can continue to move inside its faces. At the moment, there is an upward wedge with a strong resistance from above, to break through that little chance, but if this happens, then we will test the upper side of the triangle, the breakdown of which will enable a more bullish scenario. Most likely we will go below and continue the movement...
#BTC The market continues to follow the scenario, which we voiced earlier. We all have the same dense resistance and we have more and more chances to go down. The price continues to be inside the triangle, its upper edge can be broken, but probably it will be a false breakdown with a further decline (bull trap). The formed local resistance at this stage looks very...
#BTC Despite the formation of a possible upward wedge, in small timeframes the price looks rather bullish. You can see a tight resistance near the level of 6625, which the market is trying to overcome more than once. At the moment, the Stoch RSI bounces off the oversold area and can move higher, which will give a chance to tighten the price again to test the level...
TODAY WE SAW 24560 BRIEFLY, THEN SEVERE INTRADAY BREAK FAILED RALLY NEXT STOP 23800 AND BELOW. BREAKDOWN CONTINUES- POSSIBLE 1K SELLOFF IMMINENT; SECULAR BEAR MARKET BEGINNING NOW- FOR GOD'S SAKE BE CAREFUL TRADERS!
The chart says it all. If I wanted to guess at fundamental catalysts that would cause this, is Intel's continued delay of 10nm. Also, Intel's only competitor, AMD's chart is just breaking resistance of over a year of consolidation. I'm guessing AMD will be taking market share in a big way. This is a simple short setup, nothing too overly complicated to explain...