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Diagonal

BTC - The Madness to my Method - Part 2Everyone's always talking about horizontal support levels, yet they're always moving targets or zones. I got fed up of it, and decided to dig in more. Turns out diagonal support and resistance levels are much more reliable, and they behave very much like the triangles you always see on traders' charts. If you want more detail on this, you can check out my original idea on this linked below. What's different here is I have decided to get rid of the horizontal supports altogether. If you load new bars on my original idea, you'll see that BTC moved very cleanly bouncing between my diagonal lines, so I'm sticking with those. This is my idea on how BTC might behave in the coming weeks. If you find it helpful, please Like the idea. Also would be great to Follow me so you can be notified of my future ideas. Do you agree or disagree with me? Do you have any feedback? Let me know in the comments. Disclaimer No Investment Advice Provided Any opinions, chats, messages, news, research, analyses, prices, or other information contained in this Post/Idea or in connection with it are provided as general market information for educational and entertainment purposes only, and do not constitute investment advice. This Post/Idea should not be relied upon as a substitute for extensive independent market research before making your actual trading decisions. Opinions, market data, recommendations or any other content is subject to change at any time without notice. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from use of or reliance on such information. I do not recommend the use of technical analysis as a sole means of trading decisions. I do not recommend making hurried trading decisions. You should always understand that PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.
BITSTAMP:BTCUSDEducation
by kkarmayogi
2
Is the Dow Jones 🐂 Ready to Rumble? | DOW JONES MINI FUTURES ($🐮 The DOW (DJI, DIA, YM1!, UDOW, etc) is rallying based on recent strength shown by key players like Disney, the banks, Boeing, Exxon, etc. Looking at Dow Jones Mini Futures (YM1!) we can see a new clear bull trend forming... but we also see a clear-as-day support level to be tested to help confirm this rally. Perhaps the shift out of the NASDAQ's COVID hedge plays and into DOW darlings causes a correction in all markets, perhaps bank stocks run up against resistance and need to cool down. Whatever spurs on the retest of support, so be it. The plan here is simple regardless, we are aiming to buy support and catch a ride on the post-COVID bull. Resource: www.investors.com + www.fool.com + www.cnbc.com ✨ Drop a comment asking for an update, we do NEW setups every day! ✨ Like, Comment & Follow to help the community grow 🎉🎉 --- 1. Fractal Trend is showing an uptrend (Aqua colored bars) on the 4-hour timeframe. This is the first notable confirmation of an uptrend on YM1! and is indicative of the recent strength in DOW holdings. 2. With this strategy, we are looking for long setups in an uptrend and as such want to enter long on retests of bullish order blocks plotted by Orderblock Mapping (Aqua colored lines) and/or bullish S/R levels plotted by Directional Bias (Aqua colored lines). 3. The goal here is to take a long position at the S1 S/R flip since that has been a major price pivot point during the COVID correction. 4. Our stop loss is placed just below S1, with the logic being that S1 will hold. 5. Our target is the R2 highs formed during a dead cat bounce back in March. 6. If S1 doesn't hold, then S2 offers another support level, although the current bullish bias on the DOW would be lost at that point. Good luck bulls!
CBOT_MINI:YM1!
by AlphaBotSystem
BTC - The Madness to my MethodI have been experimenting with diagonal support/resistance analysis, and I find that I get a lot of confirmation in back testing and prediction, so I want to share my thoughts to see what others think of it. Also learning that confluence points of diagonal support and resistance lines tend to act as support/resistance. The pink lines are, according to this analysis, the key support and resistance levels; you can see the levels marked on the scale on the right. The BTC chart looks bearish to me, but history shows that halving is quickly followed by a pump, so I'm just going to mark this idea neutral. Personally, I'm hoping for upward price action to start May 26/27, but I don't want anyone to take that as a prediction. Do you agree or disagree with me? Do you have any feedback? Let me know in the comments. And please like this post if you found it helpful. Disclaimer No Investment Advice Provided Any opinions, chats, messages, news, research, analyses, prices, or other information contained in this Post/Idea or in connection with it are provided as general market information for educational and entertainment purposes only, and do not constitute investment advice. This Post/Idea should not be relied upon as a substitute for extensive independent market research before making your actual trading decisions. Opinions, market data, recommendations or any other content is subject to change at any time without notice. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from use of or reliance on such information. I do not recommend the use of technical analysis as a sole means of trading decisions. I do not recommend making hurried trading decisions. You should always understand that PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.
BITSTAMP:BTCUSD
by kkarmayogi
GBPUSD Elliott Wave | Short | Jeremy WagnerChart on the left suggests we are in wave iv of C (ending diagonal)...one more dip lower to retest today's low to finish off the bearish sequence then we may see a strong rally. The chart on the right is a more traditional impulse and is one wave slower...so two more dips lower to finish off C then a strong rally. Trend lines support a hold below the April 7 low. If you are learning Elliott Wave, I'd appreciate any questions you have so it makes sense for you. Cheers! Jeremy
Short
by JWagnerFXTrader
6
S&P500: ending diagonal forming?!The price action on the TVC:SPX since the May 1 high has been rather frustrating and overlapping. For one, the index is only up 3.9% since then. IMHO this means the TVC:SPX is working on a larger ending diagonal Primary V wave. Ending diagonals move in 3s (3-3-3-3-3) most of the time and this means (red) intermediate wave-c of black major wave- 3 is now underway. This wave-c then subdivides further into three (green) minor waves, which in turn subdivide into once again three smaller (grey) minute waves. Price should now and ideally be in minute wave-b of minor-c of intermediate-c of major-3 of Primary V. This means once minute-b has completed we should see a rally for minute-c to about 3175 to complete major-3. Then all that's left is major-4 and 5 which should draw well into 2020 and I suspect will complete by the time the US presidential elections come about... The alternate options is that we're dealing with a standard subdividing impulse (labeled with "alt"), but IMHO this count hinges on one data point: red intermediate wave-ii MUST be the August 23 low. If it's not then the advance of any of the other lows made in August to the mid-September high was only three waves with a final c-wave made up of 9 smaller waves. Yes the quadruple bottom in August leaves a lot to be desired. IF this impulse is however operable, then we haven't even had a (orange) micro-4 wave since the TVC:SPX 2893 low made on October 10 as that was a 67p drop while the largest pullback since then hasn't been more than 33p... So IF there will be an orange micro-4 and 5 then price will have to bottom around TVC:SPX 3040-3010 and then move to about 3125-3140 to complete minute-i. IF that happens we can then focus on the standard impulse wave. IF price drops and closes below TVC:SPX 3010 I'll be looking for minute-b of minor-c of the ending diagonal pattern to complete at around TVC:SPX 2975 +/- 25p. One of the reasons why I think we'll see once again higher prices even after a 100p possible correction is because market breadth as measured by the A/D lines, Bullish Percent Indexes and other indicators has been strong enough during the October rally to allow for higher prices once the current rather overbought readings and complacency in sentiment (low VIX, high CNN fear/greed , low put/call ratios) have been taken care off. Trade Safe!
SP:SPXShort
by intelligent_investing
4