US markets are closed today so I thought I would slide on over to the German index and give it the 1.618 treatment.
I was not disappointed.
The 1.618 is the hallmark retracement of my favourite pattern, the Head and Shoulders.
Why?
Because it’s usually the most accurate of all reversal patterns both bullish and bearish.
These particular 1.61.8 retracements...
Truth Social SPAC DWAC looks about ready to recover.
A very strong correction took place since early March this year that resulted in a total 78.40% loss of value.
Now we are getting early signals that things are about to change.
The current price action smells to liquidity hunt.
A break below support just to quickly reverse.
As usual, bottomed out;
Very low...
The only indicator you need is your local restaurant. You might wonder, "Why is there a pile of mobile orders sitting there for over 30 minutes waiting to be eaten?" Well sonny boy, these door dashers don't want to pick up your orders cause you are tipping $1 for a 20 mile trip and with gas prices peaked all time high this quarter you already know this trash stock...
I first bough DWAC at $12:
Thinking that Truth Social will take some market capitalization from Twitter and Facebook:
But since Elon Musk wants and most likely Will buy Twitter and enable true free speech on the platform, where Donald Trump won`t get banned that easily, then what is the purpose of DWAC (Truth Social and the rest) anyways???
Ok, let`s say it`s...
Weekly Time-frame
Seems like we are respecting the Breakout Area or the demand zone we will see if we are able to hold this position we can expect more to the upside if this holds. We are currently in the High Volume Node in the VPVR which is a good Support.
1D Time-frame
We are currently in the demand zone. which most probably will hold We are...
Weekly Time-frame
We are currently sitting in the breakout area of the double bottom. If we don't hold this area we can expect more to the downside. If we hold this area we can expect a massive pump again but this has little to no probability at all. Bearish has more bearing to happen than the bullish scenario as we can see the SPX Russel 2000 stocks are...
Weekly Time-frame
Still in a bearish picture. stock market are dropping so we can expect a bearish month if this continues.
1D Time-frame
It seems like in 1D TF we have a doji candle which is neutral candle close to bullish harami. Rejection area still waiting at the supply zone $43,800.
Demand zone waiting at $42,600
4H Time-frame
Double bottom...
XRPUSDT formed support at $0.81 with the channel broken @ FIB 61.8% ($0.86). Price is getting back to the resistance, a pull back happened to create momentum which will break it. With the impacts of the current suit case, XRP has been bullish fatigue; however, a positive rumour drove the price to a high of $0.9 back on March 27-28, and if XRP is really winning, in...
Weekly Time-frame
We confirmed breakout candle in weekly time-frame for double bottom and downward slope resistance. We can expect more to the upside for this week. Awesome Oscillator is bullish also. Ichimoku cloud Senkou span a is about to be broken as resistance. If We break it we can expect more to the upside. If we get rejected in the supply area we can...
Weekly Time-frame
We are currently breaking the $42,622 Resistance Area. Once we flip, it we continue the rally up to $45,000. Top would be $49,012 for the next Rejection Area. Greed and fear index is in #30 which is fear. We are close to going to neutral.
1D Time-frame
We have a breakout from the double bottom which is super bullish. Price target at...
A descending triangle is a bearish chart pattern used in technical analysis that is created by drawing one trend line that connects a series of lower highs and a second horizontal trend line that connects a series of lows.
From Trading Sim:
You can identify the descending triangle reversal pattern at the top end of a rally. This pattern emerges as volume...
UPDATE 3/5/2022: DAILY DRAGONFLY DOJI
The hits keep on coming for Donald Trump's signature social media application "Truth Social".
According to The Daily Beast , "In recent weeks, sources have heard the former president on the phone swearing gratuitously and asking things like, “What the fuck is going on” with Truth Social. He’s repeatedly groused about...
Now that the app has been released, it looses all the gas. Sell the news event.
Already looks bearish on hourly chart. This will burn down to 40s soon. Time to short/sell/puts.
Truth Social was released in App Store on Presidents Day, like expected:
If you haven`t bought it when the merger was announced:
Or see this comparison:
Then you should know that $110 is my price target!
I like to do these "gesture drawing" lines. You can probably find really similar lines with complicated maths, but these are not meant to be precise. The horizontal lines are just support and resistance levels. The lines slanted down are bearish trend lines, the lines slanted up obviously are the bullish trend lines. The purpose of doing this is simply another way...
