JBlack99

JBlack99

ADM has been going through strong bull runs, consolidations and then continuation from the consolidation back up. This looks like another set up for a continuation up. The market has run up, in part perhaps due to the commodity price increases and is now consolidating, perhaps as commodities cool off or maybe just old fashioned profit taking at a new...

JBlack99 Updated 

The double bottom that appeared on TTCF daily chart is confirmed as the price action has moved through the midpoint of the formation. The price action has also broken through the 200 EMA for the first time since December. It could be a reversal, but for more confidence zoom out to the weekly chart (which is not as pretty).

JBlack99

The head and shoulders outlines a lower peak, higher peak, lower peak formation. The neckline is the line that connects the lows of the highs (peaks). Once the neckline was broken the move accelerates down. The projected distance down is the distance between the head and the lowest shoulder. Here I have measured that distance (shaded area) and then measured...

JBlack99

The chart shows two bottoms which held, and a rebound that goes past the peak in between the bottoms. This could act as a confirmation of the double bottom. The potential upside is the distance between the original peak and dip between the bottoms added on top of the breakout line (pink dots). This is a 4 hour chart - so short term.

JBlack99

Price reaching $13.67 - the high of the peak between the two lows either side - will be a confirmation of the double bottom and present a buying opportunity. However, this pattern is appearing on quite a few NASDAQ charts right now so watch out for over-correlation if you're seeing and then buying lots of the same patterns. Try and avoid stocks that behave in...

JBlack99

The neckline of the BTC head and shoulders looks to be around $44,400 +/- today. If I've drawn this correctly (big IF) then it could accelerate below the neckline. Of course, head and shoulders isn't a slam dunk, even when the necklines are breached there's no 100% guarantee it will continue down. I'm hoping for a bounce of this level. Let's see.