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Will Market Weakness hold back $TSLA?Ticker: $TSLA Date: 2/23/2020 $TSLA is holding on extremely well amid market weakness on Thursday and Friday. Potential cup and handle pattern that could play out in these upcoming days. We closed with an inside bar on Friday, with the HOD of 913.03 and LOD of 880.45. Those price will be crucial in making my entries for long or short, depending on how we break. If we break bull, we need to break $944.78 to start this cup and handle pattern. If we break bear, I would just wait. I would also watch the correlation between Tesla and the market closely. This CoronaVirus (COVID-19) is all over the headlines and is driving the market down. If that is the case in these upcoming days or even weeks, I would think that the overall market has underestimated the effect of the virus and the impact it has on businesses.
NASDAQ:TSLA
by DerekTradeEZ
XAUUD short Big Drop (Trend Line, Supply Demand)Hello Traders ! Nice Gold Setup. We have seen Gold broken the Trend Line. Now it is at the Retest and there is also a Supply Zone. I expect the price to drop till the next Demand/Support Level. Keep in mind to watch Price Action as always. Confirmations: 1) Trend Line break and retest 2) Supply Zone Let me now in the comment section below your view on XAUUSD and what you think about my Analysis. Please leave a Like Thank you and we will see next time - Darius.
OANDA:XAUUSDShort
by DariusFxTrading
6
GOLD - Bull Break | EMA Support | Key .618 Fibonacci Level Hello Traders! Today’s chart update will be on GOLD, which is testing a key Fibonacci level that must break for a bull trend continuation. Points to consider, - Trend bullish - Major resistance - .618 Fibonacci - Local support at $1367 - Stochastics projected up - RSI hitting resistance GOLD is in a bull market after breaking its key neckline on its long formed inverse head and shoulders. It has been putting in consecutive higher lows from lower levels when coming into the neckline. Major resistance, the .618 Fibonacci needs to break to keep a bullish bias; historic price action tells us that this is a staunched level for Gold. Local support is around $1367; Gold can retrace back and retest this level whilst still maintaining a bullish structure. The stochastics is currently projected up, still room for further upside momentum, no clear signs of topping out as of yet. RSI is hitting resistance, coming out of overbought territory; a retrace back to neutral levels is highly probable. Overall, in my opinion, Gold needs to break the .618 Fibonacci level to avoid a double top formation, otherwise a retest of the neck line is highly probable. What are your thoughts? Please leave a like and comment, And remember, “Amateurs think about how much money they can make. Professionals think about how much money they could lose.” – Jack Schwager
TVC:GOLD
by The_Alchemist_Trader_
What Im seeing on AUDSGD!Gooday Traders! From the daily Time Frame, price has been in a 12 month old descending channel. Last week price broke out upward from a descending triangle. Currently, price is making a correction of that bullish impulse wave with a flag pattern, inner descending channel or what ever your nomenclature might be. On H4 im looking forward to pulling my trigger for a long "if" price does respects the pattern being played out. Till then all im doing is waiting as this is what im seeing. Remember that proper risk management is vital. Do well to follow, like and comment.
Long
by TrendlineGod
What im seeing on AUDJPY!Gooday traders! On the weekly timeframe price has been in a descending channel on the AussieYen pair. Lately, it has completed (or almost completed) its corrective wave of this 2 year old downtrend. Currently price is at my descending channel resistance. I'll be watching on D1 as well as H4 for a break and a retest. Already D1 is formed a bearish flag which is further confirmation for me. Eyes on H4 to sell at a better price "if" price does sell. Lets see how it does play out as this is what im seeing. Remember that proper risk management is crucial. Do well to follow, like and comment.
Short
by TrendlineGod
EURJPY Resistance BreakHi guys, here is my analysis about OANDA:EURJPY . At the moment the price is building up just under the resistance. It make price looks like ready to broke the resistance up. But if it wont happen? By my point of view, before the resistance break, the price can still retrace to the trendline and after go break the resistance. To recap I have got two setup: Long when the resistance get broken. Wait for a confirmation candle like a powerbar or wait for a retest. The take profit is at the resistance at 121.270 (you can use this setup also if the price retrace to the trendline before the break); Long when the price make a trend inversion candlestick pattern (doji, bullish engulfing) near the trendline. TP1 is at the resistance at 120.575 and TP2 is at the resistance at 121.270.
Long
by AndreaStimoli
Possible scenario, Why notVery hard to say anything mid term or even short term with whales market manipulation and the very uncertain bitcoin future at the moment. BTC gain in popularity but not so much on customer, much more on guys who want to make money. I think maybe we will need to master nuclear fusion before any crowd movement for BTC but BTC could die before, who know the impact of a China governmental cryptocurrencie. I have the feeling that every nations of this world will, sooner or later, create they own "crypto" and in one way or another try to kill transparency and decentralization while trying to say "We are crypto in a better way". The mass are easily manipulated, like bitcoin apparently. Anyways I want to believe in this sh*t. So i hold while we are not breaking 6,8k - 7,2k If i was a clever boy, I surely would put a buy order in this range. But I am a guy who hopes instead of acting smartly apparently.
by hijonik