Notes:
* Strong up trend since March 2020
* Good earnings in the recent quarters
* Basing for the past ~15 months
* Broke out around the end of May but pulled back to its 200 day line
* Currently breaking out of historical resistance of $29.85 with higher than average volume
* Next historical resistance comes in around $31.38
Technicals:
Sector: Consumer...
Notes:
* Strong up trend
* Not the best earnings
* Tested historical resistance of $6.17 around mid June
* Broke and retested historical resistance of $7.43 just recently
* Printed a pocket pivot and is still relatively close to its 50 day line
* The Healthcare sector is doing relatively well compared to others
Technicals:
Sector: Healthcare -...
* Broke its historical resistance of $23.55 which dates back to 2006 with tonnes of volume behind the move
Technicals:
* Sector: Basic Materials - Agricultural Inputs
* Relative Strength vs. Sector: 52.33
* Relative Strength vs. SP500: 8.92
* U/D Ratio: 1.61
* Base Depth: 71.26%
* Distance from breakout buy point: 2.35%
* Volume 196.27% above its 15 day avg.
...
The Dow Jones is on the uptrend and has built a new historic resistance.
the price has had good ascend when hit trend line.
The first possibility after hitting the trend line is to going up again to the historical resistance and possibly break it.
The second is break the trend line and fall to target.
Nasdaq is in a very strong upward trend and has built a new historic resistance.
If the price become supported on trend line and can not be broken, there is a possibility of going up to a higher goal and building another new resistance.
But if the trend line breaks, we will have a fall to the desired target.
Dow Jones has made a new historic resistance after a good uptrend. This important cfd has broken its uptrend line and hit its historical resistance again and is falling. I expect the price to be in a range after the break of the trend line.
The Dow Jones is near its historic resistance. If today's news is in favor of the dollar, it is likely that this resistance will be broken and it will see higher goals.
Otherwise, due to the formation of a triangle pattern, the price rises to its resistance (the probability of a fake failure) and then experiences a fall.
Alright laides and gents. Just testing the waters with this one.
- I've overlaid the 2017 dump specifically with the bounce and rejection.
- So far this is playing pretty accurately but there's a lot of price action to go. It's going to be interesting to see where this land us..
The price has broken a very strong historical resistance and confirms the rupture again so we are expecting it to continue the 5th wave.
There is still a bullish momentum within the price but maybe expect a little pullback towards the white line and then continue the Elliot wave pattern.
Comment your thoughts
I will open sell after fake broke of key level 5658.000:
- 5658.000 is a historical 13-Month High.
- Many retail traders set their stop losses above such historical highs. Big players hunt for such places to accumulate volume.
- Potential profit will be in 5...20 times bigger than risk.
Second update since posting my first update on TradingView. The resistance is getting stronger but BTC still brutally hacking through the bushes. Trend line has been extended to provide a guide for potential future moves as we scale up the ascending right triangle and the pressure is increasing for a major move either up or down. Reminder that the recent...
