Interested in this SPAC and see a lot of potential for it in the coming weeks and months. This is the Metromile SPAC. Looks like a rather rough bullish pennant forming. Happy for this to have some time to breathe. The merger is set for Q1 2021.
Looking at this chart on the advice of my fellow TradingView member skktrader. Very simple look at the price action since July. I've started using Heiken Ashi charts more and more as they average out price action and just show you, roughly speaking, whether the market was in control of the bulls or bears for a specific period. Very good for looking at the...
Note to self: easiest trades are on solid tickets when they flip a major resistance to support. Usually a case of just sitting and waiting for the uptrend with a tight stop loss if all other factors are positive. Problem is that I never keep an eye on things long enough to enter these trades. So, set some alerts and let the trade come to you on as many decent...
This is an old LINK chart that I drew weeks ago: * Targeting the purple line as a decision point for the current trend * Price has largely followed the direction I anticipated so far, still targeting this level * Once it reaches this level I'd be looking at getting in with a tight stop. LINK is not to be underestimated. When the normies enter the market this...
OCTO analysis: * Would love to see the fractal from early November repeat again - run up, then brief consolidation, before taking the local resistance * So far it's looking like same price action could repeat (often happens on Uniswap coins being driven by a few big players) * RSI is pretty stable indicating consolidation - not over, or underbought * Rarely...
Salesforce is looking oversold to me and is heading straight for a support level that previously was a significant resistance (look at that breakout once buyers broke through). RSI is showing this as oversold. I am betting on a resistance to support flip and think this is a decent entry with small downside. Bullish on Salesforce as companies continue to rely on...
SPX is running and looking good, likely on the Biden / vaccine double punch. It's above the local resistance from last few weeks, now looking bright. I've placed the resistance level a little low on the chart here - but really, support and resistance are 'zones' more than specific price points more often than not. Perhaps I'll start drawing 'em that way. MACD and...
BTCUSD is looking primed to cross 20k this week potentially. The MACD is leaning bearish (signal line is above the base line) but this is narrowing. If we see a MACD crossover I'd be tempted to enter. The chart looks good and once BTC gets on a true bull run there's no stopping it. Retail FOMO will occur once we cross 20k and the previous crash is sufficiently...
I have been trading for 4 years now, and have been through bull markets and bear markets. I've learnt a lot about the markets, but I've learnt even more about myself. Trading will give you incredible self-knowledge, because it tests your emotional relationship with uncertainty. You have complete creative freedom in an environment where riches and ruins are both...
Apple analysis: * RSI is hovering around the 50 mark, a sign of lack of market direction (not over-bought or over-sold) * Two touches of the support but price is still trying to move upwards. If we see a repeated return to that level (See ACTIVISION) then I would expect a brief sell-off - followed by buyers stepping back in and the current support acting as...
My Wall Street Cheat Sheet chart idea was cancelled by this delicious rally from DEFIPERP. Barely looked for support on the way up, as far as I can tell, following BTC rally? Or just exhausted sellers. Would like to get in at one of the support levels with a stop loss but not sure if I'll get the chance until we see a BTC correction or a wider change in the...
After suffering through the BTC bear market, seeing it back at 17k really is easy on the eye. I saw a rough approximation of this chart and macro fractal floating about on Twitter around the middle of the bear market, funny that it's actually come together. When BTC hit 3K I was sure that it would drop to 1K, so didn't buy. Shows you how strong a grip the...
Looks to me like price action is going to consolidate at this support in a narrow range and then move to the upside. Reminds me of previous price action (see the box I've marked on the chart) - also look at the intersection of the 30 and 200 MA moving averages, we're seeing a very similar pattern.
Thinking of getting into this one with a tight stop loss.
It's important to keep your eye on the big picture. Key levels marked.
Support gets weaker the more it's tested. Knock, knock, knock. Couldn't break overhead resistance, drooping under the 30MA. Just looking at price action it looks like a possible change in trend is imminent as soon as we see a true lower low... This needs a decisive election result as a catalyst otherwise I'm looking for a break of this range and a change in...
BTCUSD has managed to hammer through a major resistance that's been hard to break on multiple occasions in 2018 and 2019. Now the question is, can we claim this level as support. The Stoch RSI is looking overbought so I am thinking we see a small retrace towards (perhaps wicking off?) 11.8 before continuing up to claim that level and test 14k. A 6% retrace makes...