There isn't much to say here except, as the weekly Bitcoin price moves toward the bottom of the weekly Keltner Channels, the price looks poised to move under $500
Last week, United States Steel Corporation (NYSE:X) reported earnings and we saw a nice jump in the stock price. Then on Friday, United States Steel Corporation (NYSE:X) put in a bearish signal on the charts. You can take note of this bearish signal by looking at the daily time frame chart of X. On the chart, you will see a technical chart formation known as a...
(See first part here: ) The third triangle is the black symmetrical triangle. It bears some resemblance to the blue triangle in that price spent quite a bit of time looking as if it might make a run at resistance, but instead falling back toward support. The next element is the Andrews' Pitchfork. Although price broke through the upper parallel line, it has...
Currently the technical indicators for Bitcoin do not look favorable for the price to bounce. Price has been in an upward channel since April of this year. Price, depending on whether it continues to drop and how rapidly, will encounter the bottom of the channel at around $580 or below. Normally, price would move back to the mid-line of the channel. While the...
The support level built over the previous two days was broken pretty decisively at the open. The line previously in focus is still in play. Looking for price to break new support at last week's high( straight red line)
The Bitcoin price continues to look weak. Volume has generally been light and technical indicators such as MACD continue to decline. I modified this chart from my previous one () in a few ways: 1) Moved the descending portion of the triangle up slightly toward the candle wicks. This lengthened the triangle. I think this better reflected the price action. 2)...
CHF/JPY is consolidating in a controlled pattern, but more importantly the chart is telling a very detailed story that will help us determine where it could potentially go. With that being said, I believe the CHF/JPY wants to continue to go higher. All in all this chart is a fairly clean bull flag, but what has happened inside the flag is what really catches my...
Dow Jones had been trading in a long-term range (marked in the chart above) and has had 4 major price reversals since then. As can be seen from the chart, Dow had bounced off post 2008 recession (marked as the 4th reversal) and after a small dip in this major rally near the resistance line, finally closed above it. Dow has retested the upward sloping line to mark...
GLD is approaching trendline resistance and likely to give a reversal pattern, The broader downtrend is still intact and the SMII may reverse right at the downtrend line on the indicator. Once the reversal comes the target s just below $119.
USO continues to form a rising wedge which will ultimately create a larger selloff. Until the larger pattern forms, price's range will tighten in the pattern which is now poised for a selloff. The combination of the spinning top candlestick and the stochastic rolling over will bring lower prices in the near term but not for long as the distance between the...
The moderate rally in gold prices and GLD should not be interpreted as a rally per se but GLD forming a small continuation pattern such as a flag or pennant. The stochastic is in the process or rallying up but lost likely will remain under the vale of 50 as this is more sideways consolidation than rallying. Once this consolidation is complete GLD will make...
In a chart similar to SPY, QQQ has reached trendline resistance and need to consolidate before another leg higher is possible. When prices move quickly vertical they need to take a moment and "cool off" before another wave of buyers can move in and push prices higher. A candlestick pattern detailing the selloff hasn't appeared yet as price is still higher but...
Friends, Today, I tweeted several signals and commentaries on this pair, looking at a smaller 4-hour timeframe, compared to this bird's eye daily view - Here is the original signal: twitter.com The interest in the first 4-hour timeframe had to do with the development of a bearish Kiss-of-Death, which carries a high rate of success in moving in its intended...