DISNEY Revisiting a 10 year Support LineThis Technical Analysis is on Disney (DIS), on the 2 Week timeframe.
Our Current Price action is TESTING SUPPORT on this MASSIVE Decade Long SUPPORT LINE.
The 1st time we have ever tested SUPPORT on this was September 29th, 2014.
Highlighted by the RED circles, everytime we've tested this we've had some sort of Price Bounce.
The Most massive gains were from the Bottom of the COVID Crash to the TOP @ approx. $202.00
A Gain of about 154%.
It was also a more evident time to buy as the RSI gave hints along with some other indicators.
Another one being the GOLDEN CROSS where 2 week 21 EMA CROSSED Above 2 week 50 SMA .
Whats happening now?
Currently our 2 week candle, has not yet closed. It will do so August 14th. We will give more clues then. If we maintain support thats GOOD, If we see ourselves below it, and CONFIRM BELOW that would be VERY BAD. This would mean we have broken a 10 year SUPPORT LINE.
We have also had a DEATH CROSS, which is when 21 EMA CROSS below the 50 SMA. This often times causes price to fall as we've recently seen. The moving averages currently seems like there pointing downwards, indicating that price can still drop more.
I would like to see the Moving Averages to flatten out at 180 degrees. To have this happen price needs to bounce from here.
Price is also currently in a downward channel.NOTE how the lower trend line of the channel is below the MAJOR RESISTANCE.
It can be possible that we test this.
Notice the BLACK ARROWS on the RSI and MACD. If you relate them to the lower trend line of the downward channel on Price action. This shows a BULLISH DIVERGENCE. Which is a sign of potential BULLISH MOVE UP.
Bullish Divergence = When Price action shows LOWER LOWS but the indicators show HIGHER LOWS. Usually means price is lagging behind the indicators and eventually PRICE will increase to catch up to the indicators. In normal instances, price moves in sync with indicators.
If PRICE moves BELOW the SUPPORT, its possible we touch this area indicated by the BLACK ARROW, which coincides with the horizontal black line that touches the previous candle wicks. This would put the BULLISH DIVERGENCE at play. Look to see in the upcoming weeks what happens.
Some danger signs are seen in the indicators:
RSI -> Currently our ORANGE RSI Line as moved below the BLACK Moving Average. If you look left it has always been associated with price drops. If we continue to stay below, risk of price drop remains.
MACD-> Notice how the size of the GREEN histograms have been decreasing, indicating a slow down on MOMENTUM. If we don't see bigger GREEN histograms print, next likely thing is the appearrance of RED Histograms which will indicate increased probability of PRICE going down.
ADX -> Highlighted zone shows RED LINE above GREEN. This indicates that bearish momentum is present. As long as RED line is ABOVE GREEN, likelyhood of bearish momentum and price falling is probable.
CONCLUSION:
Disney has reached the CRITICAL SUPPORT line for the 5th time in the 10 year history of this SUPPORT LINE. Everytime when it did so as seen in previous history, its been known to be decent area to BUY. Is it a good area to buy? In my opinion its hard to tell in this moment. For one, we should wait till the close of this CURRENT 2 week candle on the 14th of August. Something to note, everytime we test a trendline, support or resistance, each time it gets weaker. Keeping this in mind, with the warning signs in the indicators and a potential BULLISH DIVERGENCE, a scenario that can be possible: we break it, to test the lower trend line of the Downward channel, only to have prices MOVE BACK UP. But its important to state that this doesn't have to happen either. We need to be patient and observe what is to come in the coming weeks. Zooming into the smaller timeframes, can also give more concrete short-term clues on direction. Stay tuned for updates on other timeframes.
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DISCLAIMER: This is not financial advice, i am not a financial advisor. The thoughts expressed in the posts are my opinion and for educational purposes. When trading always spend majority of your time on risk management strategy.
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Buy Zone USD CADI've been following USD/Cad this week and it made a big drop. Price is currently at a major support level and is valid to say it's touching the uptrend line. Should see a pullback, A keynote is the RSI is oversold and crossing on the 1HR Timeframe. I'm going to aim for the 61.8 fib level as the TP Zone and will adjust Stop Loss as price progresses.
Gold is approaching a potential buy zone We can see that Gold has a hard time breaking the resistance line on the Daily .
There isnt enough volume of sellers so there is a very low probability that we will break out of the resistance in a downtrend .
There is a high probability Gold will go into an Uptrend after testing the resistance again .
QCOM made a double bottom and is now looking to break!QCOM has been doing well fundamentally with its sales growth more than 30% quarter-over-quarter.
Technically it's on a clear up-trend and just recently had a nice pull-back.
Looking at the price-action on the weekly, we can see that it just made a double bottom and is now looking to break.
What makes this more interesting is that the pull-back used the 10-EMA on the monthly time-frame as support and volume is kicking in.
Thoughts:
* QCOM made a double bottom and is now looking to break
* The double bottom will be confirmed if the price breaks and closes above 144.10.
* The measured objective of the pattern would be close to its all-time-highs.
Trade idea:
* Wait for a confirmation of the pattern i.e. wait for a close above $144.10
Update on GRT ,ROAD TO .90 (BUYZONE)grt has left the buyzone , its on the road to .90 NEXT STOP around .48
if you follow me you know ive been doing alot of forecasts for GRT , give me a like if i should keep going with GRT ,
follow me to see future forecasts & to see how i analyzed and predicted the market
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thanks you guys
COS/BTC, Best place for Buy!!!If you take a look at the price action from the past, you can see a perfect 12345 Elliott Wave followed by an ABC correction!
Now , the price is at support level and it seems that is holding up nicely! It might be a great opportunity for a buy order!
If you believe this might be too early to make a move, then you should wait for a break out on the level that I pointed out on the chart!
Feel free to share your thoughts and give it I like if you enjoyed this idea!
Trade Ideas Educator: NZDUSD H1 Double Bottom or Aggressive LongIt's at the Buy Zone! Is either you can go for an aggressive long right after the 12pm(+8GMT) candle close above the previous candle high or waiting for a double bottom which may or may not form to engage this long position. Either way is alright and is based on your trading strategy and personality as a trader yourself.
It's Friday!! Yeah! Wishing all traders many pips in returns
$DGB Buy ZoneThis is another coin im HODLing for the future. I see lots of Bullish movement to come with this one. The time is now to start accumulating!
BAT Charting Predictions - When to buyLooking into the technical analysis of BAT, The next 2 weeks would be a good time to buy at a low price.
BAT has a huge potential and is a great long term investment. It hasn't had much movement yet but this should change, once more news and updates are released. I will be keeping a close on BAT, currently $1000 would buy you roughly 5,230 shares.
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• Brendan Eich, CEO, co-founded Brave. Created JavaScript. Co-founded Mozilla & Firefox.
• Brian Bondy, Lead Developer, co-founded Brave. Previously: Khan Academy, Mozilla, Evernote.
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Resistance holds, retesting supportFollowing what seemed to be a strong bull run, we found the strong layer of resistance that was expected at the $32 level. This layer of resistance corresponds to the upper trend line of the triangle that is formed from the pre-SegWit highs. Bulls stumbled a bit after a correction following the run up to the resistance at $32, this led to a stagnation period in which the market decided its direction.
The price dip following this period corresponds to price dip that occurred on BTCUSD, as BTC reached resistance at the $3000 level. The drop rippled through the crypto-verse, and was felt on all alt-coin charts. A correction upward followed, and a bear flag appears to have formed. This could indicate a retest of support around the $27 level.
My overall sentiment for this coin on the long term is bullish, so I am perceiving this retest of support (which is a solid layer IMO) as a great reloading zone. Load up on cheap LTC.