Inverter Bullish Hammer detected? Same outcome + ER = BUY?Will Nike behave the same way it did after October 1st?
Hammer
SWING IDEA - JIO FINANCIAL SERVICESJio Financial Services , an emerging force in the financial sector, exhibits signs of a potential upward move, presenting a swing trading opportunity.
Reasons are listed below :
Strong Support Zone at 300 : This level has proven to be a strong support, enhancing the likelihood of a bounce.
Bullish Hammer on Weekly Timeframe : A bullish hammer candlestick pattern indicates potential reversal and buyer interest at lower levels.
0.5 Fibonacci Support : The price is aligned with the 0.5 Fibonacci retracement level, suggesting that it could act as a springboard for further upward movement.
50 EMA Support on Weekly Timeframe : Trading above the 50 EMA adds to the bullish outlook and provides an additional layer of support.
Target - 360 // 385
Stoploss - weekly close below 295
DISCLAIMER -
Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services.
@visionary.growth.insights
SWING IDEA - DEEPAK NITRITE LTDDeepak Nitrite , a leading chemical company known for its diverse product portfolio, is showing a promising setup for swing trading.
Reasons are listed below :
2500 Support Zone : The price is resting on a well-tested support level around 2500, adding to the reliability of a potential bounce.
Hammer Candle on Weekly Timeframe : The appearance of a hammer candle suggests a reversal could be on the horizon as buyers regain control.
Golden Fibonacci Support : The current price aligns with a key Fibonacci retracement level, providing additional support.
50 EMA Support on Weekly Timeframe : The price holding above the 50 EMA is a sign of continued strength and underlying support.
Trend Intact with Higher Highs and Higher Lows : The consistent formation of higher highs and higher lows reinforces a bullish trend.
Target - 3000 // 3170
Stoploss - weekly close below 2440
DISCLAIMER -
Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services.
@visionary.growth.insights
SWING IDEA - SHEELA FOAMSheela Foam , a key player in the Indian mattress and foam market, presents a potential swing trading setup.
Reasons are listed below :
800-850 Support Zone : This strong support level is holding, indicating possible resistance to further downside.
Bullish Hammer Candle on Weekly Timeframe : This pattern suggests a reversal of bearish momentum and renewed buying interest.
Gradual Rise in Volumes : Increasing volumes support the potential for a sustained upward move, reflecting growing investor interest.
Target - 1060 // 1290
Stoploss - weekly close below 780
DISCLAIMER -
Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services.
@visionary.growth.insights
SWING IDEA - EQUITAS SMALL FINANCE BANKEquitas Small Finance Bank , a leading small finance bank in India, is showing promising signs for a potential swing trade.
Reasons are listed below :
75 Zone as a Strong Support Zone : The 75 level has proven to be a solid support zone, providing a strong foundation for a potential upward move.
Bullish Hammer on Weekly Timeframe : The formation of a bullish hammer on the weekly chart, which also engulfed the previous week's candle, indicates strong buying pressure and a potential reversal from the support level.
0.5 Fibonacci Support : The stock is currently resting at the 0.5 Fibonacci retracement level, a key area where buyers often step in to push the price higher.
Gradual Uptick in Volumes : An increasing volume trend suggests growing investor interest, further supporting the potential for a bullish move.
Target - 95 // 105 // 115
Stoploss - weekly close below 72
DISCLAIMER -
Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services.
@visionary.growth.insights
Top 3 Must-Know Candlestick Patterns for BeginnersGet your cup of coffee or tea ready we are doing a crash course on Candlesticks today
I’m walking you through three candlestick patterns every beginner trader should know—Doji, Engulfing Candles, and Hammers (including the Inverted Hammer). These patterns are super helpful when you’re trying to spot market reversals or continuations. I’ll show you how to easily recognize them and use them in your own trades. Let’s keep it simple and effective.
Key Takeaways:
Doji: Indicates indecision, potential reversals.
Engulfing Candles: Bullish or bearish reversal signals.
Hammer & Inverted Hammer: Bullish reversal after a downtrend.
Trade what you see and let’s get started!
Mindbloome Trader
#PENDLEUSDT #1D (Bybit) Broadening wedge breakout and retestPENDLE regained 50MA daily support then pulled back to it twice, forming a hammer.
Looks good for bullish continuation towards 200MA resistance, buckle up!
⚡️⚡️ #PENDLE/USDT ⚡️⚡️
Exchanges: ByBit USDT
Signal Type: Regular (Long)
Leverage: Isolated (4.0X)
Amount: 5.1%
Current Price:
3.5533
Entry Targets:
1) 3.2645
Take-Profit Targets:
1) 4.2309
Stop Targets:
1) 2.9419
Published By: @Zblaba
SEED_DONKEYDAN_MARKET_CAP:PENDLE BYBIT:PENDLEUSDT.P #DeFi pendle.fi
Risk/Reward= 1:3.0
Expected Profit= +118.4%
Possible Loss= -39.5%
Estimated Gaintime= 1 month
The Art of Candlestick Trading: How to Spot Market Turns EarlyBuckle up, TradingViewers! It's time to unravel the ancient secrets of candlestick patterns. Originating from an 18th-century Japanese rice trader, these patterns aren't simply red and green elements on your trading charts—they are the Rosetta Stone of market sentiment, offering insights into the highs and lows and the middle ground of buyers and sellers’ dealmaking.
If you’re ready to crack the code of the market from a technical standpoint and go inside the minds of bulls and bears, let’s light this candle!
Understanding the Basics: The Candlestick Construction
First things first, let’s get the basics hammered out. A candlestick (or Candle in your TradingView Supercharts panel) displays four key pieces of information: the open, close, high, and low prices for a particular trading period. It might be 1 minute, 4 hours, a day or a week — candlesticks are available on every time frame. Here’s the breakdown:
The Body : This is the chunky part of the candle. If the close is above the open, the body is usually colored in white or green, representing a bullish session. If the close is below the open, the color is usually black or red, indicating a bearish session.
The Wicks (or Shadows) : These are the thin lines poking out of the body, showing the high and low prices during the session. They tell tales of price extremes and rejections.
Understanding the interplay between the body and the wicks will give you insight into market dynamics. It’s like watching a mini-drama play out over the trading day.
Key Candlestick Patterns and What They Mean
Now onto the fun part — candlestick formations and patterns may help you spot market turns (or continuations) early in the cycle.
The Doji : This little guy is like the market’s way of throwing up its hands and declaring a truce between buyers and sellers. The open and close are virtually the same, painting a cross or plus sign shape. It signals indecision, which could mean a reversal or a continuation, depending on the context. See a Doji after a long uptrend? Might be time to brace for a downturn.
The Hammer and the Hanging Man : These candles have small bodies, little to no upper wick, and long lower wicks. A Hammer usually forms during a downtrend, suggesting a potential reversal to the upside. The Hanging Man, its evil twin, appears during an uptrend and warns of a potential drop.
Bullish and Bearish Engulfing: These are the bullies of candlestick patterns. A Bullish Engulfing pattern happens when a small bearish candle is followed by a large bullish candle that completely engulfs the prior candle's body — suggesting a strong turn to the bulls. Bearish Engulfing is the opposite, with a small bullish candle followed by a big bearish one, hinting that bears might be taking control of the wheel.
The Morning Star and the Evening Star : These are three-candle patterns signaling major shifts. The Morning Star — a bullish reversal pattern — consists of a bearish candle, a small-bodied middle candle, and a long bullish candle. Think the dawn of new bullish momentum. The Evening Star, the bearish counterpart, indicates the onset of bearish momentum, as if the sun is setting on bullish prices.
The Shooting Star and the Inverted Hammer : Last but not least, these candles indicate rejection of higher prices (Shooting Star) or lower prices (Inverted Hammer). Both feature small bodies, long upper wicks, and little to no lower wick. They flag price exhaustion and potential reversals.
Trading Candlestick Patterns: Tips for Profitable Entries
Context is King : Always interpret candlestick patterns within the larger market context. A Bullish Engulfing pattern at a key support level is more likely to pan out than one in no-man’s-land.
Volume Validates : A candlestick pattern with high trading volume gives a stronger signal. It’s like the market shouting, “Hey, I really mean this move!”
Confirm with Other Indicators : Don’t rely solely on candlesticks, though. Use them in conjunction with other technical tools like RSI, MACD, or moving averages to confirm signals.
Wrapping It Up
Candlestick patterns give you a sense for the market’s pulse and offer insights into its moment-to-moment sentiment — is it overreacting or staying too tight-lipped. Mastering candlesticks can elevate your trading by helping you spot trend reversals and continuations. These patterns aren’t foolproof — they are powerful tools in your trading toolkit but require additional work, knowledge and context to give them a higher probability of confirmation.
It’s time to light up those charts and let the candlesticks illuminate your trading path to some good profits!
Stock for Short Term Investment
Buy range 193
Target 210,230,240,280,300,325
Holding Period Short Term
QQQ falls back into bearish territoryQQQ past breakouts above shows it was false by selling off in a massive way with strong volume
Failed to hold above new support downward trend
Failed to hold above major horizontal support line
closed with hammer candle on high volume. This last item we dont expect to be a major turned around point back to bull. It should just be rise back up horizontal resistance before selling off again
Comparing with SPY we see that it has now for the first time broke its flat trading today and break below key support with strength. The confirmation between the indicates the bears are back in control
SWING IDEA - BIRLASOFT Birlasoft , a leading IT solutions provider, presents a swing trading opportunity based on its current technical indicators.
Reasons are listed below :
600 Zone as a Strong Support : The 600 level has been a significant support zone for Birlasoft, acting as a key level where buyers have stepped in to support the price.
Hammer Candle on Weekly Timeframe : The formation of a hammer candle on the weekly chart is a bullish reversal pattern, indicating that selling pressure has been absorbed and buyers are taking control.
0.5 Fibonacci Support : The stock is holding at the 0.5 Fibonacci retracement level, which is often a strong support level, suggesting that the stock may be poised for a rebound.
100 EMA Support on Weekly Timeframe : The 100-week exponential moving average is providing additional support, reinforcing the bullish sentiment and indicating a potential for upward movement.
Target - 680 // 733 // 845
Stoploss - weekly close below 549
DISCLAIMER -
Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services.
@visionary.growth.insights
Auro Pharma - Bullish Harami - Daily Time Frame#AuroPharma
PCR : 0.78
Daily Volume : ++ 2.8x
Daily Fut OI change : +2.3
ATM IV : 27.6 (+1.5)
IVP : 16
SWING IDEA - CAPLIN POINT LABORATORIESCaplin Point Laboratories , a leading pharmaceutical company known for its focus on generic formulations with strong fundamentals, presents an attractive opportunity for swing traders and investors.
Reasons are listed below :
Support Zone at 1200-1250 : Caplin Point Laboratories has established a strong support zone in the range of 1200-1250, showcasing its resilience and attracting buying interest at these levels.
Bullish Hammer on Weekly Timeframe : A bullish hammer candlestick pattern observed on the weekly timeframe signals a potential reversal of the downtrend and indicates bullish sentiment among investors.
Bullish Engulfing on Daily Timeframe : The formation of a bullish engulfing candlestick pattern on the daily timeframe, engulfing ten previous daily candles, reinforces the bullish outlook and suggests a shift in momentum in favor of Caplin Point Laboratories.
0.5 Fibonacci Support : Finding support at the 0.5 Fibonacci level strengthens the bullish case and provides a solid foundation for potential upward movement.
Higher Highs : The stock has consistently formed higher highs, reflecting a trend of increasing bullish momentum and indicating potential for further upward movement.
Trading Above 50 and 200 EMA on Weekly Timeframe : Caplin Point Laboratories is trading above both the 50 and 200 Exponential Moving Averages (EMA) on the weekly timeframe, further confirming its bullish momentum.
Target - 1410 // 1540 // 1620
Stoploss - weekly close below 1207
DISCLAIMER -
Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services.
@visionary.growth.insights
SWING IDEA - FINOLEX CABLESA potential swing trade in Finolex cables , a prominent figure in the cable manufacturing sector.
Reasons are listed below :
The stock bounced convincingly from the strong support level of 850, indicating solid buying interest at this price point.
A hammer candlestick on the weekly timeframe signals a potential reversal, suggesting a shift from bearish sentiment to bullish momentum.
The appearance of a morning star pattern on the daily chart adds further confirmation to the bullish bias, signaling a possible trend reversal from bearish to bullish.
The stock finds support at the 0.382 Fibonacci level, reinforcing the bullish outlook. Volume Surge: Witness a notable increase in trading volumes, reflecting growing market interest and potential accumulation by investors.
FinCables has been consistently making higher highs on larger timeframes, indicating a trend of increasing bullish momentum and reinforcing the potential for upward movement.
Target - 1020 // 1150 // 1210
Stoploss - weekly close below 805
DISCLAIMER -
Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services.
@visionary.growth.insights
SWING IDEA - ANUPAM RASAYAN INDIAConsider a promising swing trade opportunity in Anupam Rasayan India , a leading specialty chemicals manufacturer.
Reasons are listed below :
Strong Support Zone at 800-850 : Anupam Rasayan India has a strong support zone established at 800-850, indicating significant buying interest and potential reversal points.
Hammer Candle on Weekly Timeframe : The presence of a hammer candlestick pattern on the weekly timeframe suggests potential bullish reversal and buying interest at lower levels.
0.618 Fibonacci Support : Finding support at the 0.618 Fibonacci level strengthens the bullish case, providing a solid foundation for potential upward movement.
Bullish Engulfing Candle on Daily Timeframe : A bullish engulfing candlestick pattern observed on the daily timeframe indicates strong buying momentum and potential upward movement.
Strong Volumes : The significant increase in trading volumes reflects growing market interest and potential accumulation by investors, adding confirmation to the bullish thesis for Anupam Rasayan India.
Target - 970 // 1080 // 1220
StopLoss - weekly close below 782
DISCLAIMER -
Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services.
@visionary.growth.insights
SWING IDEA - SYRMA SGSA potential swing trade opportunity in Syrma SGS , a notable player in the electronics manufacturing industry.
Reasons are listed below :
The stock exhibited resilience as it rebounded strongly from the 450-500 support zone, suggesting a false breakdown and indicating underlying strength.
A hammer candlestick formation on the weekly timeframe signals a potential reversal, hinting at a shift from bearish sentiment to bullish momentum.
Finding support at the 0.5 Fibonacci level further bolsters the bullish outlook, providing a solid foundation for potential upward movement.
The 50-period Exponential Moving Average (EMA) on the weekly chart acts as additional support, reinforcing the bullish bias.
Notable increase in trading volumes reflects heightened market interest and potential accumulation by investors, adding weight to the bullish case.
Syrma SGS has demonstrated a pattern of higher highs, indicating a trend of increasing bullish momentum and reinforcing the potential for upward movement.
Target - 570 // 670
Stoploss - weekly close below 448
DISCLAIMER -
Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services.
@visionary.growth.insights
The weekly on btcusd.Interesting weekly candle, a hammer that needs confirmation in the next 2 or 3 weeks. These types of patterns require confirmation within the following 2/3 sessions, they represent a retracement in the majority of cases, only if seen on the top or bottom can they represent a reversal, here we have no such scenario, the candle has manifested itself during an intermediate correction, ergo the retracement or correction could end here. Now we just need to observe the next weekly sessions, a perforation of the hammer low could mean that the correction is not over, but at that point the scenarios would change if this hypothesis were to manifest itself.
GBPUSD, Short, AB=CD Gartley222, Extended pin bar at key levelWe might play out this as a Gartley222. Not entering at the 78% retracement level,
but we have a great pin bar on the 2Hour chart at a very Key level. Close below the previous major low and a 1 to 1 AB-CD move.
Volume profile- the pin bar occurred on raising volume which for me indicates stops taken, but also it's what Wyckoff will call nonvalidation, huge volume, but the bar closed at its lowest. Nonvalidation is a good edge at turning points.
The red box is the 61% retracement of the AD leg of the Gartley. Some people use this as a target. I manage the trade differently but wanted to illustrate that even this target provides a good Rirk/Reward rate.
P.S. For the harmonic pattern junkies: the red dotted line might be interpreted in the 1-hour chart as a 3 drives pattern, entering at the level was going to be great. I was personally late for it.
The weekly on btcusdWith the exceeding of 43.8k usd which is the maximum achieved last week, an attack on the most important resistances could take place or perhaps directly at the maximums achieved in January, this or next week. The hammer from two weeks ago, which requires confirmation, needs a close higher than this high taken into consideration today, because at that point the correction would be over and the trend would restart upwards. The opposite scenario, i.e. the invalidation of the one-candlestick pattern, would occur with a perforation of the hammer lows and would be a clear sign of weakness.
GOLD|Supply areas on the way to gold growthHello guys, I hope you are doing well.
Gold moved up from a four-hour demand area with the confirmation of the hammer candle that I told you yesterday, it has now reached a four-hour supply area, which I refined to the 1-hour and 15-minute areas.
-If the four-hour candlestick above the dashed line I drew closes, other sell positions have higher risk.You should look for buying positions in the support areas that I specified by getting confirmation.
-In the same supply area where we are located, you can enter sales positions by observing the candlestick patterns and the necessary confirmations, or if it passes through this area and does not give approval to enter the position, you can enter the next supply area, which is around (2038- 2042) in mind.
Red Sea Crisis: How it will trigger the market?The recent development of the Red Sea crisis does not suggest that it is going to resolve anytime soon.
Which markets have already started moving? And how far will they rise this time?
We are going to recap the supply chain crisis during the pandemic and also delve into the current supply chain disruption caused by the Middle East conflict, which has led to the Red Sea crisis.
My name is Kon How, and my role in this channel, as always, is to study behavioral science in finance, discover correlations between different markets, and uncover potential opportunities.
Henry Hub Natural Gas Futures and Options:
Minimum fluctuation: 0.001 per MMBtu = $10.00
Code: NG
Disclaimer:
• What presented here is not a recommendation, please consult your licensed broker.
• Our mission is to create lateral thinking skills for every investor and trader, knowing when to take a calculated risk with market uncertainty and a bolder risk when opportunity arises.
CME Real-time Market Data help identify trading set-ups in real-time and express my market views. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com
Clear Over View of Crypto MarketI can Clearly See this Entire Market is Turning Around and I'm really Excited for it. It Looks like we've bottomed out at least for a little bit, hopefully they've shaken enough people of their bag to let the market continue to expand!!
TSLA: Pay Close Attention to These Chart Patterns (D & W charts)Today we see an important move in TSLA's share price, a break of the resistance level of its previous top at $252.75.
Now, after the breakout, we see that this area is serving as intraday support, which is in line with the principle of polarity (former supports can become future resistances and vice versa).
Since our last analysis last week, we see that the price has broken through its most important resistances, which we mentioned in our previous analysis, and is committed to a clear uptrend. The link to the latest study is below this post, as always. What’s more, after our analysis, TSLA performed a clear “Hammer” candlestick pattern above its support line, as evidenced on the chart above. According to Bulkowski’s studies, a Hammer acts as a bullish reversal roughly 60% of the time (Encyclopedia of Candlestick Charts, chapter 40: Hammer, p. 348).
What's even more interesting is that the price has thwarted a possible reversal pattern called Head and Shoulders, as we can see in detail in the chart below. By not triggering the neckline by closing a candle below $230, and reacting to the point of breaking through the top of the head, TSLA has completely rejected any bearish thesis.
Another important point that reinforces the bullish sentiment is the breaking of an important resistance on the weekly chart, breaking a bearish channel, frustrating the price's downward sequence and triggering a bullish reversal for the long term. As we see in the image below, such a pattern could be interpreted as a Bullish Flag as well.
Now, TSLA shares could reverse the long-term trend and finally turn bullish. Could it follow the example of the Nasdaq index, which made a similar pattern recently, also on the weekly chart?
QQQ chart:
It's a plausible move with a good technical basis, but as always, we need to be aware of a few risk points.
Firstly, if the price loses a lot of strength, to the point of making a bearish pattern on the weekly, closing below the resistance of the bearish channel, the bullish thesis loses strength.
Secondly, if a reversal pattern is observed on the daily, and the price loses its supports, we have a rejection of the uptrend in the medium term. Especially if the 21 EMA is lost. Although the price has breached the average a few times, at no time since November 10 have we seen a close below the 21 EMA on the daily chart. If this happens, the bullish thesis described in the analysis could be thwarted.
I'll keep you updated, so if you like the content, please support me, and follow me to receive more analysis like this, with technically grounded ideas.
Best regards,
Nathan.
