ASX: TitomicFactors
1. Price has experienced a LT downtrend (Starting May 19)
2. Price slowly building a base with recent price action respecting that lower and upper trendline.
3. EMA is converging
4. There is an overhead gap at $1.45 which I would be looking to target.
Possible Reasons For Failure
1. No bullish price action/candlestick pattern to initiate trade
2. Prices may continue to downtrend
3. Base may breakdown
4. Target might be too optimistic
Watchlist and keep an eye on.
BASE
A long-term base and short-term breakout bode well for Walgreens
Walgreens Boots has been basing since April with a Double Bottom form ing from May to August. The stock exceeded the intermittent high, but this breakout did not hold as WAG fell back with a bull flag. The bull flag breakout reversed the short-term downtrend in mid October and WAG is again challenging resistance. I expect a breakout from this large base and would target a move to the lows 60s. A close below 53 would call for a re-evaluation.
Gold Potential Short position for XAUUSDAs you can see price failed to make new high today and price have been retest high during Asia Session for fake out/manipulation. For coming hours and there is news for USD at 2030hrs (Malaysia Time) i predict price go up first to find liquidity and go down for find high liquidity at previous day low at price 1483.50.Please be careful at price 1490-1492 since there is high liquidity at that price and not yet test today.Price target to go down at price 1483 for first TP and 1479 for 2nd TP.
Analysis:
1)TrendLine:Price have been break daily and H4 lower trendline and now price go up to retest trendline and go down.
2)Support and Resistance at High TimeFrame-Monthl,weekly and Daily.
3)Breakout at Support and resistance
As you can see in line chart price make base price want to go down.
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$ Base with DeMark RSI using Structural Momentum Analysis Watched an episode on Real Vision by the Structural Momentum Analysis. I did my best to re-create their measurements and came across this. The DeMark on RSI using the settings of Structural Momentum Analysis for the BASE money supply. I crossed it with QE dates and used another Real Vision legend in SautiagoAuCapital's theory of a rise in $ value as the world gets crushed from $ debt and no $ base. The oversold correspond to stock market liquidity crunches. WEIRD
Bitcoin EW forecastHere's my guess:
We are most likely in the 3rd impulsive wave of a larger degree. this has a few reasons:
1. This last motive wave has been much steeper than the previous one, indicating this could be a wave 3 of the larger degree cycle.
2. The volume on this 3rd wave doubled compared to the preceding wave 1.
! This could also mean that we are in a wave C, but that is not yet relevant because we are trading the 5th of wave of the inner degree (both scenario's expect a 5th wave of the lesser degree).
Within this larger degree wave, we are most likely in the wave 4. this is because:
1. The preceding wave had the most volume of this run.
1. We are forming a triangle, which is typical for W4.
This means that I expect a final 5th wave push when this triangle beaks. Once we confirm a break of this triangle-setup (everyone has their own rules regarding confirmation), we can go long with a target of around 10k~, and a small probability of an extension to 11.7k.
Caution : This 5th wave will be an exhausted wave which will rapidly accelerate in the opposite direction since it marks the end of the large cycle wave 3 and introduces the start of the larger cycle wave 4 correction.
Invalidation:
Breaking the 7462 support (triangle breaks down): could signal a complex correction with the 5th wave following after that, or it could also signal that W4 of larger degree already started.