JBlack99

JBlack99

XPTUSD is making its 5th attempt at the 200 moving average in 10 days. Double bottom could also be forming but it needs to push past the 200 for the bulls and its not proving easy. Selling pressure seems ever present.

JBlack99

Bearish sign for Nucor following yesterday's breaking of the head and shoulder neckline

JBlack99

The red line shows a lower high followed by a subsequent decline which is approaching the neckline of a double bottom formation. If the neckline (dotted yellow) breaks then the theory goes that the decline should be equal to the distance between the peak and trough of the high and the neckline, as labelled on the chart by the profit target. The decline could...

JBlack99

Inverse head and shoulders may be forming on FB. I'll look for a price move through the neckline with a Stop Buy to pick up a long position. For the more conservative you can wait for a close above the neckline before placing your buy. Next level up in being more confident is a confirmation candle thereafter. I'll place my stop loss just below the...

JBlack99

Dont take this one too seriously folks, I'm trying out Wyckoff for the first time. @FXbrawler I watched your YT video on this a couple of times and this is my first attempt at trying to understand it. Does this look at all right? Where would you correct this? Would welcome views from any others who have an opinion on this.

JBlack99

UEC recently formed a double bottom on the daily chart. Confirmation of the double bottom should happen when the peak in between the bottoms is broken. That recently happened when $2.37 was broken. The double bottom also touches off the 0.618 fib retracement level after a strong run up beginning in November and ending in June. The price action has poked its...

JBlack99 Updated 

I'm long Boeing so hate to see this but the support line of the head and shoulders formation has just broken. The 200 SMA is just below and could act as support, although historically it hasn't done. The projection down is quite severe. Company reports earnings on July 28 which could change things, or accelerate. My stop will have been long hit by then I...

JBlack99

Siemens energy (ticker ENR) has been through a recent decline, and you can take your pick from the formations but there are some observations of a reversal back up. The inverse head and shoulders looks to have broken out on Jun 29th, then suffered a one day pullback before continuing up. Today marks the price breakout of the double bottom also in this formation,...

JBlack99

This could be a triple bottom or an inverse head and shoulders depending on your interpretation. Seems today this broke out of both formations and had a failed attempt to get through a very nearby resistance at $431.19 I'm a buyer with a close at $432 or above but also wouldn't be surprised to see a slight pull back to the head and shoulders line of the $420...

JBlack99

No doubt that this is premature but after todays good start and wobbly finish the NASDAQ has been a bit suspect the last few days, and this may be the start of a right shoulder beginning to form in a head and shoulders pattern. If Nasdaq moves up to its previous high then this chart will look pretty silly, however another few days of stuttering starts and we...

JBlack99

Weekly chart showing GBPUSD has moved through the 200 SMA for the first time since 2014 and after some thinking about it the price action has continue up. It is approaching a 2018 resistance level around 1.43 so we might see a rejection from here and a move up from the 200 SMA which should act as a support. The last time GBPUSD moved above the 200 SMA level it...

JBlack99

Silver looks set to have a second attempt at breakout of of its ascending triangle resistance, which looks to be around the $28.30 level. The orange circle shows the last attempt which must have hurt for anyone that jumped in before the close confirmation. i typically take the same approach of buying at the breakout rather than wait for the close only I was in...

JBlack99 Updated 

A doji appeared in the last 4 hours of trading of Roblox. Typically a doji reflects indecision within the market where buyers and sellers cancel each other out. When it happens at the top of a move it can signal a reversal. However, 4 hours isn't much to go on (I'd feel better on a daily chart) and these things appear a lot and often lead to nothing. So check...

JBlack99

PLUG has been in an aggressive downward move this year. The chart shows two failed attempts to get through the $29.60 resistance level. It is now attempting a 3rd and I'm bullish. Why? The price action shows the aggressive downward move, a breakout from this move around $26.30 and a slight rotation of the angles indicating we may have found a bottom and...

JBlack99

Looks like the neckline of an inverse head and shoulders has broken on the 4H chart passing the lowest point (neckline) of the formation. The target when head and shoulders breaks is the distance between the head and the low of the formation (measured using the yellow bars) added to the neckline (pasted the yellow bars on top). That puts the target just...

JBlack99

HBAR candles are forming a triangle which should lead to a breakout in the next couple of days up or down depending what side of the triangle breaks. Given the current environment, and how narrow this is becoming, I'd look for a confirmation candle before going long. THETAUSDT is a similar shape but may have more days to run.

JBlack99

XPTUSD has broken the channel support line indicating a move lower however many key indicators are converging. A small head and shoulders appears at the same area also indicating a downward move. Breaking the neckline alone in this case isn't enough because zooming out this is still an bull market and I don't like to go short in a longer term upward move so...

JBlack99

An inverse head and shoulders on NKT that broke the neckline 48 hours ago. An acceleration to a new all time high took place the same day. The next day showed much of the regain reverse, which is a worry as this engulfing candle could be a reversal sign. However, watch price action over next couple of days to see how it shakes out or play it with a tight stop...