I have no idea how the Macro conditions would allow for a fake rally back to $26,200 but the chart says it could happen. If you take the measured move of the bull flag pole and extrapolate the break out, I get $26.2k as a target and its also really good resistance. I think eventually a $10k has to happen to be a true correction.
Micro vs Macro It's a big play right now! If the volume comes in, It could breakout very badly. But following Btc, i think that it will top max around 400 $. That's why the Macro view is for. ----- Push like if you think this is a useful idea! Before to trade my ideas make your own analysis. Write your comments and questions here! Thanks for your support!
Hello, Let's start with a macro view. Beginning with the 4wk chart, we can see that a doji star has formed. On the 2wk chart, we are nearing the end of a hanging man. Here, the Money Flow Index is overbought and heading down. The MACD is also showing signs of weakening. Zooming in closer, on the weekly chart, we can see a bull flag formation. The bottom of...
JNJ micro picture currently contradicts macro one. On long term basis, JNJ has held the test of 10-year trend by falling below and then bouncing back up above the 10-year uptrend border (marked by 1st standard deviation from 10-year mean, now at 91) On short term basis, however, price has fallen below 1st standard deviations from quarterly (66-day) and 1-year...
On long term basis General Electric trades in are of long term means (above 5-year mean at 22.5 and above 10-year mean at 24.5) Thus we can say that there are no current trends on long term basis. On short term basis price has returned within upper 1st standard deviations from 1-year and quarterly mean - which are approximately at the same level and are aligned...
Exxon is in a complex situation - but overall risk is still to the downside at the moment. On long term basis, XOM fell out of 1st standard deviation from 5-year mean (at 76 now), but is still holding within 1st standard deviation from 10-year mean (although, below the mean itself) Thus XOM is on risk of decline there at least to 65 - which is the lower 1st...
GBPUSD is on risk of a macro breakdown (see related chart) On short term basis the situation is now tradable - Pound is breaking below 1st standard deviation from weekly (120-h) mean, amid expanding volatility (measured by 3.2 st deviations from the weekly mean) Traders can pick shorts at the 1st standard deviation (1.5300) and stops at the weekly (1.5375)...