Just picking up on a previous analysis linked to this one. 1. The long term downtrend, neatly captured by that downward sloping trend line, came to an end with that decisive, above-average sized bullish candle back in November 2022. 2. Price driven towards the proximal resistance are drawn for historical thresholds in this market. 3. Price rejected by that...
1. Do not trade late stage base breakout ... especially those created side by side with a RSI bearish divergence. 2. Exit long positions when the price closes below the 10 EMA (M) / 50 EMA (W) / 200 EMA (D). 3. Never let bullish reactions encourage you if the price remains below this key threshold. 4. Consider even shorting if you see a bearish rejection candle...
For those overoptimistic about yesterday's post market news on $GME, I've brought you a sobering chart today. I count at least 4 attempted breakouts above the elephant in the room, that downward sloping yellow trend line, which has been neatly respected by the price. None of these attempts resulted in a long term break of structure. Does that mean the line...
Debit Suisse and SVB were the obvious beacons of attention last week, but something interesting was taking place meantime. Bitcoin overcame another major hurdle on the path of the bullish operators. the 50 EMA (W) had been serving as support to a (now) confirmed uptrend, and the 50 EMA has just been demolished with above average volume and candle body size....
I mean, I know that hindsight is the most effective tool. But still ... look at this chart and try not to love classical technical analysis concepts and their capacity to protect you from ruin ... let alone their capacity to make you a profit. Simple, time tested trading philosophy, built on top of price action and technical analysis: trend following. Long...
Gargantouan Bearish Engulfing Candle produced today with the highest volume this market has seen in two years. This market had recently broken above the 90 days highs. After recurrent tests of resistance in higher volume, the aggressive uptrend was set in motion. Today, the price hit a key level. A heavy downtrend had sprouted from this level back in September...
- Breakout into 1 year highs - Breakout above the 50 EMA (W) - Break of structure & uptrend confirmation - ... with substantial volume increase + Price retracing to the new value zone. Wait for a trigger, like a bullish engulfing candle or a brek of structure in the daily timeframe. Cheers, Tenacious Tribe
Breakout into 1 year highs. - Breakout above the 10 EMA (M) - 2nd above-average-sized bullish candle over the past 3 months. - Both candles are backed by gargantuan volume. Scarce volume ahead. Candle not closed yet. Cheers, Tenacious Tribe
No questions asked. I don´t care why but MSFT as well as NVDA (as most prominent examples) are counter trending vs the over all tech market. $MSFT's chart is telling us the following story at the moment: 1. Breakout above the 10 EMA (M), which is a key threshold. 2. Breakout into 5 month highs. 3. Break of structure with a fresh higher high after the price...
And there is also a plethora of technical analysis and price action textbook gifts in this market. They are always there, in any market, they just tend to be less ostensible, harder to spot. With SOFI, the patterns scream. I’ll let the chart and its notes speak for themselves. In short though, although this market is displaying prominent signs of...
1. Break out into 52 wk highs - great for marketing this stock and triggering some FOMO. 2. Break of structure - this market for the first time since its downtrend started, making new higher highs and new lower lows on the Monthly time frame. 3. Three recent above average sized bullish candles. 4. Shy or scarce bearish footprints for the past year with tiny red...
The aggressive breakout that occurred back in November 2021 was beautiful. Shame the market was, by then, reaching its last hurrah and this stock, like roughly 80 % of them, could not fight against a bear market. Yes, no matter how sexy your setup is, a bear market is a bear market. This market is still a young one though, which needs to be marketed, and it is...
Before the good news, remember at all times that the price is still trading below and neatly following the 10 EMA. The good news for the bulls out there is that the price is now kissing a long term key demand level. The famous AMC rally back in 2021, erupted from close to its current levels. This tends to be a good reason to start looking for bullish...
You've got to love the higher time-frames. If the Yellow trendlines in thi chart do not make complete sense to you, I invite you to pull the 12M time-frame chart. Last year, this market broke out above a 36 year, neat, downward sloping trendline. It ended up the year retracing back close to the demand zone form where the breakout erupted. And it is now trading...
1. Breakout and close into 40w highs. 2. Break of structure - market in a confirmed uptrend. 3. Completion of an inverted Head & Shoulders reversal pattern. 4. Golden cross pattern. Looks good right? We've got a trigger, we've got a target. We've got a logical place where to set our stop loss. The only thing not so appealing with this scenario is a weak risk...
Third consecutive upward swing breaking above the 50 EMA. Candle not yet closed, but all remain unchanged, this is an above average sized bullish candle ... which is just as well depicted in the RSI plot. The bulls have the momentum. There are converging technical hints vouching for their case. On the not so bright side, volume is not ideal and there are plenty...
Two months ago the idea was put forth. Now it's official. :) We have a breakout from the steeper trendline. Note though that the month has just started. We need a closure for confirmation. The chart looks promising though for Tesla bulls. Cheers and ... Manage risk, manage risk, manage risk, manage risk, manage risk ...
Just like the title suggests. There's a slight change of balance taking place in this market, with the current above average-sized bullish candle. If you've been following my work, you know by now that I am a 1M timeframe lover ... whose perspective could turn out to be extremely helpful for all the day traders out there. Note of course, that the patterns you...