If you draw a trend line on top of the price candlesticks, you get the upper level of the channel, which seems to be overextended. This has not meant a strong reversal necessarily, but more of a consolidation period. Interesting to note: - the 50sma has been an important level for some time - the lower Bollinger Band has also acted as a potential support As...
LGIH has been on a great run over the past 2 weeks. I love this company in the long term, but I see a shorter term pullback coming as soon as next week simply because it has had 11 consecutive green candles on the daily, and the there is now a divergence in the current trend and the daily volume. I'm betting on a fall to at least $120 before April. BUT Only Time Will Tell
Reasons to sell Overextension of the RSI on the 4hr Bearish DIV on 1hr and 2hr Last time we saw a move like this was 04 Nov 2020 with a 20% correction happening Strong resistance at $6 Head and shoulders still intact (but subject to change as we are in a bull run and this is a bearish pattern) low success rate in bull runs Could see price revisit $4.80 ...
In the monthly we have a price that is over extended. The price is currently rejecting a supply area. As well we have a over extended W formation, so we can expect the price to complete the pattern with a rejection to the w previous leg. if we take fibonacci from low to high we can see that the fibonacci .618 level is align perfectly with estructure. We just have...
TVC:UKX - FTSE overextended after a strong break of downtrend channel - Retest of 6,200-6,150 level needed
Ethereum has an extended run up with no corrective wave. Ascending wedge forming with price contracting, logically there should be a break to the downside from here - I have marked the highest level of resistance. I will set a pending order here (risking 1-3%) and I will just hold this position for years. I think Crypto assets, like the S&P500, will just...
The Federal Reserve note is dying. BTC is the Harbinger. Price action is violently bullish. Any fundamental downside compared to the dollar? No. BTC has a finite float, the float of the dollar is infinite. To use a stock market analogy, the dollar has unlimited Authorized shares, BTC has limited authorized shares. It's just a matter of time
RSI at 90, meaning extreme overbought levels. The lower BB has curled up, and intraday volume has been below-average. If we see a pullback; 20ema will line-up around $21.5, to test a short-term support. I am SHORT until we see some consolidation after this parabolic move. $21.5 could be a good place to enter a position.
Update to our long term S&P analysis. Check the link below: Hello traders and analysts, Here is update to our weekly outlook provided April 24th and July 22 judging by the closeness of our results so far - we are pretty much on track to our prediction. We are already short on this and will hold our sells in conjunctions with longs and close out longs as price...
Volume still low, so still a safe short. Watching carefully for any spike in volume, in which case this has excellent squeeze potential for a day trade long.
Banknifty Monthy - Banking Index held its previous month low and also surpassed the previous month high and I am hoping it be closing above the previous month high tomorrow, and if it does and it is going to be a very good monthly closing, indicating likely continuance of the recent up move. Banknifty Weekly - On Weekly, it formed a Big Bull Candle closed near it...
Expecting correction over next few weeks down to ~$70. Watching that 87-88 range for a new breakout, but it doesn't have the volume. Volume will be key indicator for now.
MSFT tested current support 3 times, before breaking out of it today. Getting good risk-reward-ratio. QQQ is getting overextended, but the RSI(14)@65 on MSFT is not in overbought territory yet (which is not an indication of a sell, just something to watch).
Propelled by the news of offline staking, mainnet and potential DeFi project, QTUM is on the hot steak lately. One of the two famous smart contract platform projects, along with NEO, from China back in 2017. It is trading below its long-term S/R lvl and is about 96% from its ATH (Check my links below for other coins that are down over 90% from their ATH- SNT &...
Breaking out of the long term trend channel. Are we seeing an overreaction to the up side? Bullish long term
Hello traders and analysts, Despite the huge sell off today - which has been anticipated as the price hit a great supply and completed a great W formation - Bears took over to retrace to our 61.8% zone [but not there yet to get buys in. Prefer confirmation as this sell off was very impulsive. Why are we going long still? Well if the price is showing us -...