Over the past few weeks, BTC has consolidated around the $19,246 level, which is the Fibonacci level of interest discussed in a number of recent posts in the past couple of weeks. See the links embedded in the Primary Chart above. BTC has chopped above and below this $19,246 level quite a few times, forming a tight consolidation range between and $18,232 and...
Today saw volatile, whipsawing price action in both cryptos and equity indices. BTC was no exception. As discussed in an article on September 19, 2022 at the start of this week (see link in the Primary Chart above), the US Federal Reserve Open Market Committee (FOMC) has held their September 2022 meeting on Tuesday and Wednesday this week. This meeting concluded...
A lovely cup and handle pattern formed on Physical Gold. However, it never broke out and failed. You can't rely on bullish patterns all the time.
Primary Chart: SPX Symmetrical Triangle and Anchored VWAPs The S&P 500 broke out of a symmetrical triangle pattern this week. On September 13, 2022, SPX's price closed below the lower trendline of the triangle, which is an upward trendline from the June 17, 2022, low. These multi-month patterns do not resolve easily every time. A backtest of the trendline that...
Traders, As you know, EuroDollar Futures has been one of the lead indicators regarding Fed rate hike action. As the futures drop, the inverse occurs with the U.S. dollar (DXY). It goes up. Likewise, the Fed tends to respond with a rate hike in accordance with the gravity of the EuroDollar's move down. Yesterday, the drop was huge after the CPI report was...
Bulls tried to rallied the patterned market play and was DENIED access due to bears having more momentum. Market key timeframes and targets delievered created great resistances during higher/lower areas. Remember to always invest wisely.
Hello everyone, It is with the utmost conviction that I must return to a trade posted on June 7th, 2022, and admit, I was WRONG. I have to own it... the breakout has failed; I have stopped out of this trade.
Broken trend line and channel bottom. It can only mean a failed breakdown. So ride it back to the top plse.
looking at a possible failed breakout up on an upwedge; returning to wedge this week and look for breakdown and short trades
Buy a Daily Candle Close above the Range Top. Watch for a Failed Range Breakout. Use a 30m/1h time chart to watch if there is a Bearish bounce off Range Top. Breakout Candle Must Be 100% of the Average Volume For full-size position 75% of the Average Volume For ½ size position Stop Loss is 1.5 x ATR First Target is 1 x ATR (close ½ position 1st TP)
An interesting way to see how countries are doing is by the iShares of the country. Mexico had seen a breakout, but very quickly gave that up, creating a failed breakout. Next support & resistance levels are drawn in the chart. 50sma and 200sma look like they will start trading together. Mortality rate there is the highest in the world unfortunately.
I've posted twice about H&S forming. Nothing is certain in trading. Example of a failed breakdown. Always have a strategy around your exits and trade management. Identifying the chart pattern is the easy part, the hard part is managing your trades after you enter them.
After breaking our briefly last Friday, the has reversed and has closed under its resistance every day for the last week. The RSI and trendlines both show that the VIX is going to get scrunched between its resistance and support lines. Because flag patterns are usually a breakout followed by a triangle pattern followed by a breakout in the same direction, I would...
Chart patterns have their fare share of failed setups. No "edge" is perfect. Identifying the trade is the easier part. Trade and Risk management is where the heavy lifting is. I alerted to this setup when it was forming here
MakerDao, Compound and Aave are the three major lending protocols in the DeFi space. I think LEND has run its course and there are better coins to speculate on since it has already gone up more than 35x this year alone. It may be facing a major pullback soon. Even so, it is never a wise idea to short a high momentum coin until the trend is clearly broken, which...
NASDAQ:CALM broke out of the 4+ month ascending triangle chart pattern and close above resistance 4 days in a row before the news shock after the close yesterday. The stock gapped down 5+%, held around the opening print for around 2 hours and gravity took over from there. Remember, anything could happen when you enter the trade. Use stop losses and risk...
A clear three waves structure, failed breakout from the channel. It is an A-B-C Zigzag after the Covid bottom. The rising is final? New low will come? We will see but everything will be decided around 220 - 200.