Minimal Complimentary Aesthetic No analysis but wanted to share this color scheme I have concocted. It's nice to look at a beautiful chart if you're going to be staring at it for hours on end.
I like to avoid very bright or jarring colors on my charts. I also avoid red as much as possible because it's not ideal for keeping a calm collected mind required for trading (IMO).
I went for a cool modern look with complimentary oranges and steel blues.
Here's the details:
Canvas:
Background Gradient
Top: 1d2c3a
Bottom: 29485b
Text: d1e6ff
--
Candles:
Up (color, opacity)
Body: b2b5be, 0
Border: b2b5be, 100
Wick: b2b5be, 100
Down (color, opacity)
Body: f9a26c, 100
Border: f26627, 100
Wick: f26627, 100
Vert/ Horizontal grid lines optional but if you decide to use them I personally like to use a very low opacity dark grey. And I use yellow for the price line but you can use whatever tbh.
Here are the indicators used:
Enjoy the theme and share any you have made you really like.
Aesthetic
Aesthetic Analysis Implies Expected Correction (Monthly View)The food is the support.
The body is the limit.
The wing is the history.
The crown is the clue.
And the eye is the target.
Expected Correction for US30 (Weekly VIew)This relates to my ideas 2 weeks ago in which I correctly anticipated the downturn but the pace was more pessimistic. I originally estimated support at 32200 last week, now I expect around 31K somewhere this month. It will be seen then whether we would proceed to a full crash or we will continue at the green trend line seen in the picture. I guess it would be the latter.
Many are talking about fear of inflation as the reason of this downtrend. My analysis confirms that it's actually an end of a cycle as we hit a major Fibonacci resistance as seen in the chart. Perhaps, they are the same, fear and cycles, I mean, but a cycle is more measurable, so I am sticking to it.
As we can see, the road upwards with the current trend is full of hurdles that could only be overcome with a massive buying force, which is unlikely due to many reasons, fear of inflation being only one of them (another is the decline in retail investing as life goes back to normal). If we are corrected to 31K, the road becomes much clearer and we can continue upwards, perhaps, with the slower pace of the pre COVID19 market.
Aesthetic and Volume Analysis Show Future Price Target of 420Here I am analyzing Tesla's downturn using geometry, volume, and trendlines. First, we have a major support line broken yesterday , after historically defending the price for 8 times successfully. Now, this is expected to turn eventually into a resistance as the price tries to jump back into the upper triangle. Since the last year, Tesla's price was forming one triangle after another, all leading the price higher. The triangles themselves are the value areas where most of the buying and selling takes place. The pumping between them --- that is jumping from one triangle to another -- is mainly buy and rather defenseless. So, since we are falling currently from the top triangle, we will arrive soon in the middle one, which settles around 420.
The green spiral represents the positive force which started the trend from the beginning, while the red spiral represents the negative force which is bringing it down. Both converge at the target point of 420, which is also the origin of many other forces acting on the price to bring it there as can be seen. This vantage points of sort was chosen based on aesthetic analysis of the geometry in the graph, the symmetry, and the specialty of the point regarding the forces it emits and their effect on the historic prices.
The volume profiling shows that the upper triangle is done for with massive selling , leaving the defense to the middle triangle, since the line in between is weak. The massive selling indicates a loss of trust in the endurance of the Tesla bubble, which was a cash cow for a while. Something similar is happening to BTC right now. The declining volume in the later days, as shown in the OBV indicator, is a good indicator that the price wouldn't go below 420. IN a way, this is the inefficient market cleaning up the inflated value of a company which is doing very well on the fundamental level, but was heavily inflated by the price dynamics.
My forecast is that we would reach the 500s very soon and then the prices would swing in a downward triangle until it flattens at 420 in September.
