Hi Traders!
The market is in a Downtrend.
*This Analysis gives you an idea of what the market is doing now from our point of view.
You have to decide by your own analysis, which way the market will go...
or just follow the price ;-)*
*Leave a comment about your idea!*
As you can see we here have two major Trendlines, which are frequently respected.
The...
SPY Came back up to the point that has served as resistance for the past 19 trading days, and my trading strategy dictates that I should enter short here and play for the reversal, with a tight stop loss just above the trend line resistance. I followed my plan, but if I'm being honest, it was hard to do so. This looked and felt like a breakout day, and the RSI...
AAPL Today completed formation of a Dark Cloud Cover candlestick pattern. See attached diagrams for explanations. According to some research, this pattern results in a down day the next day 60% of the time, while up the next day only 40% of the time. Obviously there is no sure bet in this game, but I'll take 60/40 odds over 50/50 every day of my life. In any...
The ETF's tracking the markets printed some true Bullish Harami patterns for the past two days, which according to some research says that the next days move is up 53% of the time, while the next day is down 47% of the time. See attached figure. If the pattern presents in a downtrend, the smaller the body of the second candle means the stronger the signal. This is...
AMZN printed a Dragonfly Doji today, which is usually a good sign of a reversal when seen at the bottom of a downtrend. See attached image below. So, what do we do now? Well, here's my take. AMZN is a buy above the top wick of the dragonfly, so over 1770 tomorrow. However, the tilt in AMZN remains bearish until 1836 is broken and closed above with conviction....
Price only goes up or down, but the paths it can take are infinite.
To help fight my biases I take a number of potential paths including important zones where price is more likely to stall or bounce.
With ETHBTC the over-all shape since the lows is that of a large flag which could lead to an impulsive break up. The move resulting from this would be powerful, but...
Seems we are right back where we started and asking the same question ... Will BTC break the overall downtrend of resistance (shown in green)? Does not appear that we are out of the woods yet, and a huge factor whether BTC will rise is potentially determined in the next couple weeks. Many say there is definitely belief that we go to new highs this year. But I have...
The question everyone is asking, is it inverted or normal H&S? The lack of volume is not impressive at the moment. I originally was seeing an inverted H&S. But it also can be a normal H&S. However, volume is pretty low for a bull rally. But historically, it could fit. Will the Asian markets see inverted or normal. I promise this is not, some cheap shot at asians....
