A Shark Pattern is near completion at 1.1361.
However, there is no sign of the buying momentum slowing down.
It might just bash through this Shark Potential Reversal Zone and go towards the Day Carb Pattern PRZ which is just right above.
Candle confirmation is needed to engage in this trade.
Nasdaq is currently at all time highs, but it still has one more major hurdle to cross. The overhead trend line resistance that goes back to 2018 is the bears last hope.
The last time we hit this line we had a major sell off (please see my related idea below). We're hitting it again. If it tops here, it could be a long way down. If it holds above it, we may see...
The ether forms a bull pennant.
More likely exit is up, but I do not exclude the descent to local and main support.
We also have a channel:
- Local resistance 247
-Main 251
Breakdown and consolidation above 251 - will mean the continuation of a strong upward movement
Support:
- Local 239
- Primary 235
Breakdown and consolidation below 232 - for me it will be a...
Though I have been expecting the markets to roll over once and for all, they simply may not be ready yet. The ES futures now appear to be in a descending consolidation pattern, forming a bull flag. We may be headed up.
GBPUSD has formed head & shoulder pattern at the top. It has achieved its first target, which was at support 1 and it bounces back from support 1 to retest the neckline. Now, it is also trading in descending channel pattern, as shown in the chart, we might see a downside in GBPUSD, as it is facing the resistance of neckline and resistance of channel pattern. One...
Main Items we can see on the chart
a) The price is on a Weekly Support zone
b) We have a Descending trendline that represents the last dynamic resistance before the bullish target
c) Currently, we have a descending movement just on the edge of the mentioned trendline (yellow lines)
d) If the price breaks above the yellow lines, we will consider as a...
Ascending triangles are classified as continuation Patterns . Here are the key elements that make up an ascending triangle:
1. Bottom Trend Line(Support) – An ascending triangle is characterized by a bottom trend line that is formed as the price continues to set higher lows. The more touch points on the trend line, the more reliable it will be.
2. Horizontal...
$SQ Square is looking like it is ready to correct itself in the near future. With accelerated C19 cases in multiple large population states, this will potentially hurt small businesses the most, which is Square's primary client base for their POS/processing business.
The one hour chart lays out are 2 target price gaps that will need to be filled at some point,...
Homebuilders have emerged as one of the standout industries in the post-Covid world. Plenty of technology names, like Zoom Video Communications , benefited from lockdowns. But it’s also boosted housing in a few ways. First, surveys show millennials finally want to buy single-family suburban homes. Second, interest rates are low. Third, credit-card spending data...
Hello traders, GOLD has completed two secondary test of BC, This is the final peak now it will make lower lows. We are already in 1000 pips profit and it will give another 1000 pips profit in this month. I will keep updating this chart and we will keep adding trades. This could be the huge jackpot.
Don't Forget to Hit the like button if you find it helpful and...
Evening Traders,
Today’s Analysis – AUDCAD – breaking above daily support, price is likely to put in a retest allowing for a long trade with defined risk.
Points to consider,
- Strong bull impulses
- Daily S/R flip
- Daily resistance target
- Oscillators cooling off
- 200 MA visual guide
AUDCAD’s trend has put in multiple bull impulses with no proper...
Palladium...
After their steep price surge in 2019 and beginning 2020 it is recently stabilizing itself.
I personally believe that this stabilisation isn't sustainable.
So waiting for an breakout is recommended.
I am a bit more bullish than bearish, but i want to wait for the breakout.
Technical:
"Explained above"
-rsi between 50 and 40 over a decent...
We assume that the false breakedown which was announced in previous reviews has been woeked out. At this stage we are observing an incipient long trend.Investors' sentiment is at medium negative levels and that leads to believe in the continuation of a growing trend.An exit of price above 9900 will confirm our expectations.
Altcoins: (Considered coins are LTC,...
In today's analysis I would like to share my view on the sp500.
Since the last FED meeting and the prudence by Jerome Powell the actual Fed chairman is viewing the rhythm of economic recovery, the market stopped his recent rally and started to sell off quite intensively.
After the last Friday sell off we haven't seen much of movement and the broad market is...
Greetings, fellow traders!
Gold has broken out of the triangle, and above the mirror horizontal level too, while being above the diagonal support trendline.
RSI indicates the asset being overbought, so a correction is expected.
After that, If the horizontal level and the diagonal support stand>>go long.
The parallels with the previous breakout are too...
- On Friday, the index were trading a little flat against a basket of major currencies, particularly the Euro. Traders are also awaiting news from a European Union online summit, where Germany and France are trying to swing other members behind them on a joint EU rescue fund.
- The main trend is down according to the daily swing chart; however, momentum is...
Today gold finished the week at $1,743 - just on top of monthly resistance.
This is an important area because it's on every trader's gold chart, and is prone to fake outs for that reason.
As pointed out in my chart this area has produced 4 fake outs to date since May, but is this one different?
What I would like to see next week is for gold to stay above this...
![SQ: [ $SQ ] Ready for a Correction](https://s3.tradingview.com/u/UVsKjmyu_mid.png "[ $SQ ] Ready for a Correction")
