PALANTIR - Possible bear trap in progress? Hi All, my main 3 take-outs from this analysis are the following:
1- Despite the huge volumes in the recent drop, I personally feel like this might be a bear trap
2- Inside candle pattern which might mean reversal anytime soon
3- Big descending wedge on the daily chart with take profit projection at all time high.
Not a financial advice, just personal opinion. Do your own due diligence and good luck!
Inside Bar
Inside Bars On Bitcoin Suggest A BreakoutWe see that bitcoin slowed down recently with an inside bars pattern, but above the falling trendline which is actually trying to act as support now.
An inside bar formation can bring the volatility back, but after a daily close above the Mother bar. This can then cause a continuation back to the highs
On the other-side drop below the Mother bar, may suggest that weakness from Oct 20 will be more complex and tricky with potentially lower prices ahead.
ATNF ReversalATNF has made higher lows since it gapped down in mid August. The price is still oversold with an RSI just under 50.
The most recent candles have tested the 200MA and the .23 fib levels. Yesterday's candle made an inside bar which is a bullish signal in an uptrend.
Looking for the price to move over the 200MA, preferably with volume to confirm.
Targeting the fibonacci values: 1st $7.46 longer term $11.75
NAZARA TECHNOLOGIES INSIDE BAR TRADEafter ipo launch nazara technologies is also consoldiating in tight range in weekly time frame
first candle of weekly time frame is acting as a support and resistance. currently we can see a clear breakout on a charts time for go long in this share
upcoming targets 2400, 4000
sl 1350
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Inside Bar Candlestick PatternInside bar refers to a candlestick pattern that consists of two candlesticks in which the most recent candlestick will form within the range of the previous candle.
It is the most widely used candlestick pattern and there is a clear logic behind this pattern. It can make you a profitable trader if you will use it in the correct way.
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