Gold started trading inside a Channel Up following the September 28th 2022 bottom. As you can see, the Higher Low since October 6th 2023 follows a similar structure to the one that started on November 3rd 2022. This shows that the current bullish wave isn't over and should instead settle at around 2280 (+15.45% rise). After that we may see a healthy pull back...
Dow Jones / US30 has hit the top of its Channel Up. Once the 1day MA50 breaks (has been in support since November 2nd 2023), we will have a sell validation. In addition, the 1day RSI is on the strongest Bearish Divergence since February 2020 and the start of the COVID crash. Sell than and target 36700 the 0.382 Fibonacci level from the top. Follow us, like...
Nasdaq / US100 is near the top of its 14 month Channel Up. As you can see, the patterns between the only two bullish legs of the Channel Up are similar and when the July 19th 2023 top was formed, the index fell on its first bearish wave by -8.75% on its 0.236 Fibonacci level. Sell now and target 17350 (0.236 Fibonacci) and if it closes a 1W candle under it,...
THORChain / RUNEUSD is about to form a Bullish Cross on the 1W MACD. The previous Bullish Cross saw the price grow by +911.54%. Another such rebound targets $40.00, that should be your medium term target. Long term, if the price goes for a full repeat of the 2019-2021 run, we may even see $800 as the Cycle Top but don't keep the majority of your coins until...
Natural Gas / NG has been trading inside an 18 year Channel Down pattern. It has been below both the 1M MA50 and MA200 since January 2023, as it entered into the 2nd phase of the Bearish Wave. Last week it hit the Falling Support Zone as well as the horizontal Support Zone, which is in effect since December 2015. The 1M RSI touched its own Rising Support. We...
Google / GOOG hit today the 1day MA200 for the first time in 11 months (since March 30th 2023). That makes it a strong technical buy opportunity, also taking into consideration that it did so near the bottom of the 14 month Channel Up. This is so far a -14.50% decline from the Channel's top, which is the pull-back that the previous bearish wave did. Buy and...
Gold / XAUUSD has had the strongest 1D green candle today since December 13 2023 and is approaching the top of the 3 month Channel Up. That is a sell opportunity especially with the 1D RSI entering the overbought region. That has formed the Highs of October 27th and December 1st 2023, which declined by -4.03% and -4.93% respectively. The maximum decline inside...
Nasdaq / US100 is pulling back after a Double Top formation at 16970. The 1day RSI is already inside a Channel Down, much like the patterns of the July 19th 2023 and February 03 2023 Tops. They both declined by -9.00% on average. Sell and target 15850, which is slightly over the bottom of the Rising Wedge (Rising Support) - 1day MA200 - 0.5 Fibonacci Support...
Bitcoin / BTCUSD is rising aggressively yet again, only 2 days before the SEC's decision over the ETF approval. Technically the market is just coming off a Bullish Cross between the 1week MA50 and 1week MA100. The last time this happened (December 2019) Bitcoin had just started the 2nd rally of the Bull Cycle (disregard the March 2020 COVID crash). The 1week...
EURUSD has almost hit the top of the 12 month Channel Down and started to pull back with today's 1day candle being the strongest daily selling since November 30th. The 1day MACD has formed a Bearish Cross and the downside potential inside this Channel Down is seizeable. For now sell and target 'just' 1.07215 (bottom of the Megaphone and Rising Support). If the...
Gold / XAUUSD has started the bearish wave, the 3rd one inside the Channel Up pattern that started on October 13th. So far it is holding the last technical support leve, the 4hour MA50 but once crossed, the pattern has shown that a decline always starts that aims the 0.618 Fibonacci retracement level. Sell and target 2017.50. Previous chart: Follow us,...
DAX has formed a Channel Down pattern following the December 14th rejection on the Rising Resistance. The 1day MACD has formed a Bearish Cross like the one on November 28th 2022, which is a Top after a similar aggressive rally like the one the index ran since late October. That top also turned into a Channel Down which then broke downwards and hit the 1day MA50,...
S&P500 / US500 has almost completed a +17.30% rise, which is the prince range it grew by on the December 1st 2022 High. That was the first High of the long term Channel Up pattern that started on the October 13th 2022 bottom. The Channel Up still has a little more room to go upwards before reaching its top but since the price is already over the 0.786 Fibonacci...
Nasdaq / US100 is getting close to the top of the Rising Wedge pattern that started in August 2022. The Triangle pattern formed inside displays similar features with the one tha peaked on February 2nd 2023. That formation eventually pulled back to the 1day MA50 and 0.5 Fibonacci level. Sell and target 15850 (expected contact with the 1day MA50). Previous...
The EURUSD pair is testing and so far has been rejected twice, the top of the Channel Down pattern. The Fed fueled rebound on the 1day MA50 has delayed the decline but the selling pressure at the top of two Channel Down patterns, is expected to do the trick by next week. Sell and target the Rising Support, which is the bottom of the Megaphone pattern at...
Bitcoin / BTCUSD is trading inside a Channel Up since the start of the year and is approaching its top. The price action is basically similar to the March-April Higher High formation and it is getting close to the April 14th High once it completes the +89.41% rise. The 1day RSI is also inside a similar Channel Down pattern, which is a bearish divergence leading...
Dow Jones / US30 has broken into the 0.786 - 1.000 Fibonacci zone, which is the top range of the Channel Up since September 2022. That is the most efficient range to start adding shorts as a corrective Channel Down is expected to start in January. Wait for the 1day MACD to form a Bearish Cross. Target 35450, which is the 0.236 Fibonacci level and has been...
USDJPY is trading inside a Falling Megaphone pattern. Every 4hour MA50 test since Nov 16th has been a sell signal, with the price action producing 5 so far. Sell on the next near test. Target the dashed line at 140.000, which is also near the 1 year Rising Support. Previous chart: Follow us, like the idea and leave a comment below!!