A bullish pattern is forming on the daily chart for Tesla, which is known to be a consolidating triangle/pennant. As we all know, TA is all about the price patterns repeating themselves. This can be a clear example of that. As you can see on the left, in 2020 we saw a clear consolidating triangle forming around $400-$500 range, and soon after, it broke out above...
We can see a break of descending structure, bears take over the market. Price finds support and is consolidating in this range. Where will see price go heading into next week?
Any questions? Just drop me a message.
Happy Trading and have a great weekend!
No significant change, whilst mixed daily readings keep price action cautious.
Intraday price action is leaning lower, but critical support at 1.2059/65 should continue to underpin any immediate downside tests. The broader weekly chart, however, continues to deteriorate, suggesting the current consolidation phase is likely to give way to renewed losses.
The bitcoin price has potentially shown us some new levels for support and resistance levels
We've found support off a multi week trend line which seems to give us new parameters for the consolidation pattern in play, possibly indicating a prolonged consolidation.
This will allow the 20 week moving average to catch up and potentially suppress volatility on a...
Here we can see price is trading in a flat channel highlighted with the black horizontal lines and our green highlighted rectangle. Price is contained in this area. We are waiting for price to breakout to the downside on this pair.
Please drop me a message. I'll be happy to help with any forex related queries!
This range has buy & sell side liquidity that needs to be tackled. Ideally, I want to see a strong push above the consolidation into the order block marked before a reversal to the downside, as illustrated.
We've seen price honouring support at $35k now three separate times. While this is bullish it shows a strong sentiment to consolidate to the downside. This week I will be looking to see which event happens first: 1. we break outside the triangle using it as support (very bullish) 2. we break down below our $35k support and consolidate down to $30k. There will be...