After breaking out from the descending wedge we got stopped at the 0.5 Fib level- 1st yellow arrow -
Some profits taken there , I was hopping we will retest back on the top of the wedge , but it seems that we are forming a bull flag,
Measure move up will be the length of the pole and that will send us straight to the 0.786 Fib level- third yellow arrow -...
Time to start shorting Sugar, or just an ascending triangle that price consolidates in before it breaks up to higher prices?
RSI gives signals of exhaustion for the bulls and four signs of bearish divergence, obviously we have been up trending for a while now and is only reasonable for RSI to fall from overbought to neutral levels, the four last peaks on ...
Reverse Head and Shoulders pattern formed showing two necklines one horizontal - neckline 1 - and one diagonal -neckline 2 - giving two different levels for closing long positions first at 2580 and second at 2640
Mixed signals on this ,
Primary wedge ( white ) got broken but failed to rally due to lack of buyers, Head and shoulders pattern created from a secondary impulse up after break out , sending us to lower levels, secondary descending channel has been created where price consolidates in at the moment,
RSI on Daily shows class A bullish divergence, I was originally...
Head and Shoulders on the 1H time frame for Natgas , probably sending the price for todays trading session towards the red line that acts as a downslopping resistance ,
That will be a nice entry point for the next swing high .
Here we have a classic by textbook diamond formation, sign of an equal power between bulls and bears,
Long term the price will follow the direction of the break out in which case that direction points upwards.
The macro scale of the price action also shows a bullish divergence inside a descending channel that price has been consolidating for the last couple of...
Price breaking up back inside to the Fib Triangle( see link on chart )
Price on natural gas has to climb back up through the upper resistance of the Blue triangle so bulls get more chances to square up after the gap we had last Friday sending the price to test the two different resistances above it - green and if breaks through that red line to follow where 50...
Interesting watching how Natural gas price is responding to those two different Fibonacci channels
The one is the upwards Fib channel we were in before selling off and currently rejected from - upper resistance, and the other one is the one we are consolidating in for the last couple of weeks moving downwards giving the down sloping support . Those two lines...
BTC at the moment gives mixed signals to traders and here is why
As we can see the yellow trend line at 9220 was the bottom trend line of a descending triangle,
That triangle got broken to the downside but price retested back up and now on it's way down, if BTC respects this trend the measure move will send it down to the mid4000s levels ,this is not news or...
Good Entry for a little swing
Biot tripple bottomed and tripple bullish divergence on the RSI.
Trading inside a descending wedge for the last couple of weeks that signals that price action sending the price north is due .
Price nicely broke to the upside of what it appears to be an ascending triangle,
Goo opportunity for longs .
Those formations - ascending triangles - are bullish with the uptrend reaching the length of the base of the triangle that the price broke out from .
Surprisingly in this occasion that 's the length required to fill the gap looking left after that huge...
Bullish divergence on the Daily on the MACD and the RSI - green line
We can see how the price consolidates inside in what it seems to be an ascending triangle - blue line. Formations like this tend to break upwards.
Regardless the direction of the breakout , we currently trade in the low are of the consolidation and just bounced off the demand trend-line...
Loading on the long position for Natural Gas, being trading in the descending broadening wedge for a while price gives first signals of bullish divergence on the MACD and the RSI on the 1H timeframe , a signal that we gained some value on these levels and buyers are coming in .
Double bottom on the price of UK OIL with bullish divergence on the RSI on the daily chart,
Good entry for longs and taking profits at $62 where the 20 MA is at at the moment , price in case of an uptrend most likely will travel towards that level,
Also Fibonacci taken from the high to low of the descending channel we have been trading in for the last few...
Sugar weekly candle just closed above the 20 ma and the 21 ema. Looking left when that occurred in the past we had at least one additional full body weekly candle close above those moving averages before trend reversal OR start of a further uptrend , especially in those cases that 21 ema crossed over the 20 ma to the upside.
Linking this idea with my...
Here is a macro picture for Tesla on the weekly time frame.
Tesla broke out that descending channel that was trading in for months , retested forming a descending wedge that also broke up to the upside , and now and on its way up .
Long term positions with profits at 0.5 => 279, 0.618 => 302 , 0.786 => 335
Currently price is above the 21 ema -blue line-...
Ltc price reached the lower end of the fib channel ,
That means we re still on an uptrend but on a slower growth due to the lack of volume,
Also the 0.236 fib level - white line of the fib taken from 106 high to 62 low, where the price action was unfolding around for the last few hours , happens to coincide with the 21 ema on the Daily ,
So we can see...