Tradecharting

Tradecharting

BTC/USD: seeing lots of folk frustrated by the choppiness here but I'm wondering if there could be more in store? There is the look of a bullish continuation Cup 'n' Handle pattern brewing on the weekly chart. The problem here, though, is that the Handle needs time to develop & spells more potential chop! The height of the Cup pattern is about $40,000. The...

Tradecharting

The US$ index remains below a multi-year year trend line. It has tested but failed, thus far, to hold back above this region. Remember the saying: "Old 'Support' becomes new 'Resistance'". Watch for any break below the daily Ichimoku Cloud.

Tradecharting

The Transport ETF, IYT, looks to have made a Bull Flag breakout. Price action is still pegged by the recent High resistance zone of $207 for now though so watch for any new make or break from there. The Flag pole height here is about $80 and so technical theory would suggest that any bullish continuation might extend by that amount. Keep an eye on the $207...

Tradecharting

There looks to be a Bull Flag setting up on the weekly chart of the Emerging markets ETF, EEM. The Flag pole for this Flag is about $20 in length and technical theory would suggest that this could be the extent of the upside move on any bullish breakout. Thus, watch the weekly chart's Flag trend lines for any breakout.

Tradecharting

AMAT is currently setting up in a Bull Flag on the weekly chart time frame. The Flag pole here is about $50 in length and so any Flag breakout could be expected to extend by that order of magnitude. Watch the weekly chart Flaf trend lines for any new breakout.

Tradecharting

FLN is another one I am stalking at the moment. I have been watching this descending wedge and the breakout has evolved. A close and hold above the Cloud would help support the bullish thesis. There are no guarantees in this business; just watching for high probability set ups to trigger.

Tradecharting

This chart was posted by a fellow trader at our recent ATAA meeting and caught my attention for the clean chart pattern it presented. IMHO, TWE is consolidating in a classic-style Bull Flag under the psychological, whole-number $20 level. The Flagpole here is about $15 so Technical Theory would suggest that any bullish breakout move might extend by a similar...

Tradecharting

Who would possibly have thunk that Telstra could display a bullish-reversal chart pattern? However, in the 'what goes down must eventually go up' category, maybe there is some hope here? Telstra is currently shaping up in a bullish-reversal descending wedge so let's see if this pattern delivers. In my experience, descending wedges are one of the most reliable...

Tradecharting

Bellamy's has pulled back to the weekly 61.8% fib and it will be interesting to see if this support holds. The whole-number $10 level is just below this level, and this is also near the bottom of the weekly Ichimoku Cloud, so this region, for me, would be the line in the sand level to watch here. Any hold above the 61.8% fib and / or $10 region would have me...

Tradecharting

There is a decent Bull Flag setting up on A2M, an ASX stock. Any bullish trend line breakout would support a thesis for continuation. Technical theory suggest that the extent of any bullish breakout move might approximate the previous bullish push higher, that is, what they refer to as 'The Flagpole'. The 'Flagpole' in this instance is worth about $10. Thus any...

Tradecharting

A number of Commodities have been dragged lower as victims of the recent Trade War debate and some are trading down near major support. Sugar and Soybeans were two that came up as a topic at our Sydney Chapter meeting of the 'Australian Technical Analysts Association' (ATAA). This conversation prompted me to review some commodities and my chart findings are...

Tradecharting

Bitcoin is currently struggling near the $8,000 as this region is the weekly chart's 61.8% Fibonacci level. $6,000 is an obvious second level of support being a recent low and traders should watch this for any new make or break activity. My charts and detailed thinking are posted in this latest article on my personal blog site here: www.tradecharting.com