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BTC - BREAKOUT OR BULL TRAP ?DAILY (D1) Yesterday's price action triggered a second long white candle in a row, which broke on a closing basis (41'505) the upside triangle trigger level @ 41'115 which should, potentially activate the triangle technical target, calling for a move towards 43'400 , which is also, by the way, projected in the next days the top of the daily clouds resistance area and therefore should be seen, if reached at a KEY PIVOT LEVEL FOR FURTHER DEVELOPMENT Interesting to note that 43'390 is the 50% Fib ret (48'534 - 35'547) and also the KIJUN-SEN, meaning very important level as previously mentioned. Nevertheless, following this first upside breakout I would remain cautious and it also could be a BULL TRAP as already seen in the past... In addition, the current level of the daily top clouds resistance area (41'900) is working as the first obstacle to be broken to confirm this upside move towards 43'400. On the downside, a failure to hold and close on a daily basis above the triangle trigger level, now @ 41'061 should be seen as the first warning signal of a wrong breakout and would put again the BTC on a neutral mode, roughly in the middlle of the daily clouds. 4 HOURS (H4) TOP OF THE 4 HOURS CLOUDS is currently working perfectly well, in rejecting four successive upside breakout attempts !! RSI is losing momentum and began to turn down. LAGGING LINE is above both TS and KS but did not managed, so far, to enter in the clouds resistance yet... First support to look at in the 4 hours time frame is @ 41'166 and a closing below that level would increase the risk, calling for further downside towards the 4 hours clouds bottom area, around 40'300 (MBB being @ 40'467 and KS @ 40'150 Globally the psychological 40'000 former resistance level became now the NEW SUPPORT which should not be broken in order to keep going the ongoing upside bias ! 1 HOUR (H1) Short term support @ 41'277 (currently under attack) ahead of 41'166; 38.2% Fib ret of the last rally @ 40'53 , 50% @ 40'158 and 61.8% @ 39'781, this Fibonacci retracement zone match with the hourly clouds support area, which, also, perfectly corroborate the important 40'000 support level previously mentioned in longer time frame. Have a nice trading day. IRONMAN8848. - Jean-Pierre Burki
BITSTAMP:BTCUSD
by Ironman8848
1
BTC- DAILY - STILL IN THE CLOUDS...WEEKLY (W1) Upcoming weekly closing may or may not give more clues for next week price action... Indeed, THE BOTTOM OF THE CLOUDS ZONE SUPPORT has been, during this week, briefly broken but, so far, the BTC managed to hold in the clouds; therefore, as you can easily imagine, a WEEKLY CLOSING, below the bottom of the clouds @ 39'885 would, once again, be seen as a NEGATIVE SIGNAL in this WEEKLY TIME FRAME , putting the focus to the TRIANGLE (in progress) target @ 37'235 ( see daily comments below, ) ahead of the weekly ongoing uptrend support line around 36'350. KEY STRATEGIC PIVOT LEVEL (WEEKLY) : 28'600 Being both the former low reached in June 2021 and more important the TRIGGER LEVEL OF THE MAJOR DOUBLE TOP IN PROGRESS !!! On the upside, a weekly closing above 41'279 or event better above MBB @ 42'872 would neutralise, for some time, the ongoing downside risk. Please note the large thickness of the clouds (39'895 - 50'551) which means, resistance area very difficult to break ! RSI below 50, @ 45.05 and LAGGING LINE in the middle of the clouds. DAILY (D1) Currently traded in the middle of the ongoing TRIANGLE PATTERN IN PROGRESS and still in the bottom zone of the daily clouds support area. As mentioned yesterday, the implication of the triangle breakout would trigger a move of 2'339 points, targeting respectively : UPSIDE : 43'659 DOWNSIDE. : 37'235 RSI below 650, @ 41.31 LAGGING LINE below both KS and TS. Interesting to note that in this DAILY time frame, the level of the T enkan-Sen (@ 41'334) match roughly with the level of weekly Kijun-Sen @ 41'279 , that is why this resistance area should not be underestimated. 4 HOURS (H4) Still moving sideways in a narrow trading range, below the Mid Bollinger and more important below the very thick clouds resistance area (40'698-43'209) ! 1 HOUR (H1) Monitor and watch price action around the clouds which are becoming very thin, meaning fragile on both side... Have a nice Sunday. Take care IRONMAN8848 - Jean-Pierre Burki
BITSTAMP:BTCUSD
by Ironman8848
1
BTC-TRIANGLE ! 43'659 & 37'235...Looking at the DAILY picture, we can see a TRIANGLE PATTERN IN PROGRESS, with the breakout levels , currently and respectively : @ 41'320 on the upside and @ 39'574 on the downside I MPLICATIONS ON A DAILY BASIS CLOSING LEVEL : upside breakout : TARGET @ 43'659 (currently the Mid Bollinger Band and the Kijun-Sen) downside breakout out : TARGET @ 37'235 (currently, roughly the ongoing weekly uptrend support line, starting @ 32'950, low reached in January. RSI , below 50, @ 41.44 LAGGING LINE attempting to hold above both KS and TS Continue to monitor closely price action and especially, WATCH THE CLOUDS !!! 4 HOURS (H4) Caught in a relatively narrow trading range which confirm growing uncertainty about further development. Currently attempting to upside breakout the Kijun-Sen with difficulty... successive small candles !!! RSI also below 50, @ 46.23 LAGGING LINE far below the clouds and still below both TS and KS Last but not least the 4 hours clouds resistance area is very thick (41'468-23'338) which means very strong resistance zone which should be broken to really confirm a reversal. 1 HOUR (H1) Currently attempting to breakout the clouds to the upside without great success for the time being... On this hourly time frame, watch the clouds too (40'255 - 40'570) as a sustainable breakout of one of those levels would give the direction for further short term price action. Do you like my analysis ? ifYES, please do not forget : 1) to like it 2) to add Ironman8848 on your following list (if it is not done yet :-) Have a great long weekend and have fun All the best Take care IRONMAN8848 - Jean-Pierre Burki
BITSTAMP:BTCUSD
by Ironman8848
BTC-DAILY-KIJUN-SEN IN SUPPORT...DAILY (D1) As expected, the failure to stay and hold above both MID BOLLINGER BAND and the top of the TRIANGLE PATTERN, triggered a downside acceleration towards the next support (42'900) mentioned in my yesterday's analysis in making an intraday low early in the morning @ 42'741. The 50% Fibonacci retracement @ 42'900 of the 37'567-48'234 rally has been filled and after this decline it is likely to see some technical natural rebound which is expected in the current bearish environment to be relatively limited. Indeed, in order to neutralise the ongoing and persisting downside risk, the BITCOIN should now, at least recover very quickly above the former support area (44'500) which became now the new resistance to cross over and hold above it; slightly above, the next level to watch at very carefully is the TENKAN-SEN (or conversion line) @ 45'237 which worked, as you can see perfectly well in the past either as a support or as resistance (meaning BULLISH above and BEARISH below !) A failure to close on a daily basis above 42'900 would confirm further downside in the cards , calling for lower levels towards 41'641 (61.8% Fib ret) ahead of the psychological 40'000 area which also coincides with the very thin DAILY CLOUDS AREA... RSI below 50, @ 47.35 LAGGING LINE failed to stay above the triangle resistance line and crossed under ! 4 HOURS (H4) Far below the clouds; below MBB, KS and TS too ! RSI in oversold territory,,, and may stay for a while in this mode (check potential bullish divergence ! LAGGING LINE also well below the clouds and TS and KS In order to neutralise this ongoing downside risk in this H4 time frame, the BITCOIN should at least recover and hold on a H4 closing basis above TS (44'428) 1 HOUR (H1) Below the clouds, TS, MBB and KS, RSI in a OVERSOLD TERRITORY, but NO BULLISH DIVERGENCE DETECTED YET. WAIT FOR THIS FIRST SIGNAL WHICH COULD POTENTIALLY TRIGGER A DOUBLE BOTTOM FORMATION AND AT LEAST A SHORT TERM RECOVERY In this hourly time frame, a recovery above the KS, currently @ 44'159 would temporary neutralise this ongoing downside risk and if such kind of price action occurs it should be confirmed by the breakout of the H4 TS @ 44'428 previously mentioned in H4 analysis. Do you like my analysis ? Do you think it bring you additional value to your trading activity ? If your answer is YES, please do not forget to like it and for those who do not follow me yet on TRADING VIEW (the best charting application available at the moment)in adding IRONMAN8848 to your following list. Last but not least for those who do not have access to TRADING VIEW, please sign up on the following link (several plans available from basis, free of charge to more sophisticated, against payment) : www.tradingview.com IRONMAN8848 - Jean-Pierre Burki
BITSTAMP:BTCUSD
by Ironman8848
NQ1 100 MF - WATCH MBB !!!DAILY (D1) Under heavy selling pressure very close to the MID BOLLINGER BAND SUPORT LEVEL @ 14'415 !!! [ A daily closing below this level would open the door for lower levels towards the next very important support @ 14'105 which is the KIJUN-SEN. RSI below 49.24 LAGGING LINE moved sharply down after the failure to cross over the daily clouds.. but still above both the KIJUN-SEN and the TENKAN-SEN .. for how long ??? Yesterday's price action triggered a BEARISH ENGULFING PATTERN (LONG BLACK BEARISH CANDLE) which is confirmed by ongoing today's price action, which is showing a second long black candle currently traded roughly at the bottom of this candle (intraday low being @ 14'446... V ERY IMPORTANT TO NOTE THAT ON THE UPSIDE THE WEEKLY LEVEL OF THE KIJUN-SEN @ 14'855 which also coincides with the TOP OF THE DAILY CLOUDS AREA, did not hold and the breakout of this important support level triggered a downside move acceleration towards the 14'500 area . As mentioned previously, today's closing level will give an important information for further development as a failure to clearly recover above the top of the daily clouds area would continue to keep this ongoing selling pressure live. As usual watch shorter intraday time frames to get clues and intermediate signals which will help you to validate or invalidate the implications above mentioned in the daily time frame. Last but not least, in looking at the weekly picture we can see that the NQ100 is again currently traded in the clouds area .. IRONMAN8848 - Jean-Pierre Burki
CME_MINI:NQ1!
by Ironman8848
BTC - DAILY - WATCH MBB !DAILY (D1) The yesterday's failure to hold above both ongoing uptrend support line and the TENKAN-SEN triggered a downside move which pushed the BTC towards a low so far @ 44'419, having tested during the night both the MID BOLLINGER BAND support and the former downtrend line (top of the triangle pattern !) Ongoing today's price action will be important and especially its daily closing level; indeed a closing above 44'500 would keep live the TRIANGLE (pullback consolidation) and a closing below would add more trouble putting the focus on lower levels towards the 42'900 (KIJUN-SEN) % 50% Fib re t 37'567 - 48'234) RSI on a downside move mode and LAGGING LINE too ! In order to neutralise this ongoing selling pressure the BTC should at least recover and hold above the TENKAN-SEN @ 46'186 on a daily closing basis ! which if occurs would trigger a bullish engulfing pattern. 4 HOURS (H4) Currently below the CLOUDS which are very THIN, meaning also very fragile on both side ! Currently the top of the H4 CLOUDS @ 45'958 coincides roughly with the level to break on the daily chart and globally corroborate the global picture. Watch the clouds as a failure to recover and hold above it would increase the selling pressure towards the next support levels previously mentioned in D1... 1 HOUR (H1) Below the CLOUDS too; currently trying to recover above the TENKAN-SEN (@ 45'267). A successful breakout on a hourly closing basis of this level would open the door for 45'810 (KS) ahead of MBB @ 45'955 (also top of the H4 clouds) No bullish divergence detected yet suggesting that recent and current short term price action is, for the time being, corrective only... IRONMAN8848. - Jean-Pierre Burki
BITSTAMP:BTCUSD
by Ironman8848
BTC - UNCERTAINTY AND INDECISION ...WEEKLY (W1) The weekly picture is showing a BREAKOUT ATTEMPT to cross over the top of the WEEKLY CLOUDS resistance area @ 47'407- Wait for either VALIDATION or I NVALIDATION by the ongoing weekly closing level. DAILY (D1) Sideways price action caught in a relatively narrow trading range which is showing some uncertainty and indecision about further development. Yesterday's closing price @ 45'820 was below the TENKAN-SEN (45'925) and today's ongoing price action is showing a recovery attempt above the TS, which today @ 46'167after having been supported by the ongoing uptrend support line, currently @ 45'565 LEVELS TO WATCH (daily closing basis ! : UPSIDE : R1 :46'167 R2 : 47'218 R3 : 48'234 A DAILY CLOSING ABOVE 48'234 WOULD CONFIRM FURTHER UPSIDE TOWARDS THE PSYCHOLOGICAL 50'000 RESISTANCE LEVEL AHEAD OF THE VERY IMPORTANT 50'975 LEVEL WHICH IS THE WEEKLY KIJUN-SEN ! DOWNSIDE : S1 : 45'565 S2 : 44'159 (38.2% Fib ret) S3 : 42'900 (50% Fib ret & KS) RSI @ 61.36, below its uptrend support line and the LAGGING LINE moving in a SIDEWAYS mode. A DAILY CLOSING BELOW 44'650 WOULD PUT IN TROUBLE THE STILL VALID TRIANGLE PATTERN TARGETING 57'620 4 HOURS (H4) Currently roughly IN THE MIDDLE OF THE H4 CLOUDS SUPPORT AREA, caught between the KIJUN-SEN in support @ 45'982 and the TENKAN-SEN in resistance @ 46'391. Watch the upcoming H4 closing to get more clues about further development then watch the CLOUDS and respectively : 46'785 on the upside 44'493 on the downside A FAILURE TO HOLD AND CLOSE ON H4 time frame above the clouds bottom level @ 44'493 would corroborate the implications previously mentioned in D1 1 HOUR (H1) WATCH THE CLOUDS TOO as a good leading indicator in this H1 time frame. The bottom of the clouds coinciding also with the H1 Tenkan-Sen level @ 45'985 ! As usual monitor closely intraday shorter time frames which will help you to catch early signals which will validate or invalidate the implication of the scenario mentioned in longer time frames. Have a nice Sunday (Winter is back in Switzerland...) All the best and take care IRONMAN8848. & Jean-Pierre Burki www.tradingview.com
BITSTAMP:BTCUSD
by Ironman8848
3
BTC-DAILY-WATCH 41'705 !Sharp recovery seen yesterday-long white candle, (intraday high @ 43'337) with a daily closing @ 42'393. So what next ? Watch and monitor carefully ongoing price action and especially today's closing level ! Indeed, a failure to close above 41'705 (middle level of yesterday's long white bullish candle) would trigger a DARK CLOUD COVER (potential reversal pattern) which should be confirmed by by a breakout of the Kijun-Sen, @ 41'174. The 38.2% Fibonacci retracement of the last 37'568-43'337 rally is @ 41'133 Tenkan-Sen @ 40'740 and MBB @ 40'115 (61.8 % Fib ret @ 39'771, middle of the daily clouds support area !) RSI @ 55.03 and LAGGING LINE did not breakout the clouds resistance yet On the upside, a daily closing above 42'500 would neutralise the ongoing still existing dowside risk and would open the door for yesterday's high ahead of the former downtrend line resistance (in red) currently around 44'635 GLOBAL PICTURE IS SHOWING A BROAD TRIANGLE PATTERN IN PROGRESS As usual, watch at shorter time frames to get intermediate clues which will validate or invalidate implications above mentioned in the DAILY analysis. IRONMAN8848 & Jean-Pierre Burki
BITSTAMP:BTCUSD
by Ironman8848
1
BTC-FAILURE TO HOLD AND CLOSE ABOVE 42'524 !DAILY (D1 ) Yesterday's price action triggered a LONG WHITE CANDLE which intraday broke briefly the top of the DAILY CLOUDS RESISTANCE AREA (@ 42'524) but failed to hold and more important to close above it ! Today's ongoing price action is, currently showing the level of the BITCOIN, below the bottom of the daily clouds and below the TENKAN-SEN (41'250) too, with a LAGGING LINE which crossed again below the TENKAN-SEN. The 38.2% Fibonacci retracement @ 42'520 of the 37'169-42'592 recent rally has already been filled , intraday low, so far, being @ 42'054. Next support to look at is the psychological 40'000 level ahead of the 50% Fib ret @ 39'880 and then 39'240 (61.8% Fib ret). RSI currently still above the 50 level, @ 51.10 THE DAILY PICTURE IS SHOWING A BROAD TRIANGLE PATTERN IN PROGRESS ! ONLY A SUSTAINABLE MOVE ABOVE 42'524 (daily closing above it !) (TOP OF THE DAILY CLOUDS RESISTANCE AREA) WOULD FORCE TO A VIEW REASSESSMENT OF THE EXPECTED BEARISH SCENARIO CALLING FOR LOWER LEVELS 4 HOURS ( H4) Below the H4 clouds and still above both TENKAN-SEN (40'367) and KIJUN-SEN (39'880) and above the MID BOLLINGER BAND (39'609) RSI @ 54.49 and LAGGING LINE in the H4 clouds and already below the KIJUN-SEN. A failure to hold on H4 closing basis above 40'367 would be the first warning signal, calling for further downside towards 39'880 /39'609. 1 HOUR (H1) Above the H1 very thin clouds support area (39'804-39'294) with the KIJUN-SEN, currently under attack for a downside breakout ! Interesting to note the corroboration between the levels highlighted on the DAILY analysis and those mentioned on the hourly analysis Do you like my analysis and do you find it bring added value on your trading activity ? If YES, please do not forget, firstly to like it and for those who do not follow me yet, please also add IRONMAN8848 on your following list. Last but not least for those who do not have access to TRADING VIEW yet (the best charting application available for the moment :-) please sign up in clicking on the following link : www.tradingview.com Have a nice trading day and all the best. Take care. IRONMAN8848 & Jean-Pierre Burki
BITSTAMP:BTCUSD
by Ironman8848
1
UK100GBP Head & shoulders patternHello people, doing some late night research for the week ahead for trading. I found this (almost perfect) head and shoulders pattern on the 4h timeframe on the UK100GBP chart. Head and shoulders pattern is a reversal pattern so we could be seeing more bearish movement this week. Theres also some Ichimoku cloud bearish signals which some are RED cloud, Conversion line cross below the base line (Ive highlighted it) and price is below the cloud and base line. The last signal i'm waiting for is the lagging span to cross below the cloud before I enter any trades. Make sure to do your own analysis and research. I hope some of you find this helpful and have a great trading week.
OANDA:UK100GBPShort
by Shealy
GOLD FUTURES-W1/D1-PIVOT LEVEL @ 1'919WEEKLY (W1) In a broading sideways price action (1677-1919) and under the influence of a DOUBLE BOTTOM IN PROGRESS ( see related ideas below) Currently above the clouds with a Lagging line above the clouds too ! Global weekly picture is positive, calling for a test of the former high @ 1'919 which should be seen as a KEY PIVOT LEVEL for the next move. Indeed, this level is the DOUBLE BOTTOM TRIGGER LEVEL and a clear breakout and sustainable move above 1'919 would confirm this double bottom formation and open the door for a technical target @ 2'161 (NEW ATH) RSI is above 50, @ 60.04 and is still converging to the upside. Only a failure to stay on a weekly basis above the cluster of 1831-1800 support area would force to a view reassessment of this expected bullish scenario calling for an upside breakout of the former high @ 1'919 DAILY (D1) In an ongoing uptrend channel, above the clouds and in a positive and constructive price action. First significant support to look at on a daily basis closing level is @ 1'845. A failure to hold above this level would be the first warning signal ahead of the MBB (1830) which also coincides with the ongoing uptrend channel bottom line support (corroboration with the weekly view previously explained) Last but not least, MAJOR DAILY SUPPORT being the DAILY CLOUDS (1'831-1'800) 4 HOURS (H4) In this time frame, a potential short term double top is in progress ! Watch and monitor closely the price action on the upcoming trading hours and check RSI in order to get signal of a potential short term bearish divergence. A failure to stay on a H4 closing basis, should be seen, as for D1, as a warning signal for a short term reversal,(tactical countertrend short term trading opportunity) still in a consolidation move in a broad bull trend. As usual, watch at shorter intraday time frame to get early signal (s) which will validate or invalide the implications previously mentioned. Do you like my analysis ? If the answer is YES, please do not forget : 1) to like it 2) for those who did not follow me yet on Trading View, please add Ironman8848 on your following list 3) and for those who do not have a Trading View access (the best charting application available at the moment !, please do not hesitate to sign up (different levels :-) , in clicking on the following link : www.tradingview.com Many thanks in advance. KInd regards Ironman8848 & Jean-Pierre Burki
COMEX:GC1!Long
by Ironman8848
BTC-UPSIDE BREAKOUT OF THE MID BOLLINGER BAND...MARUBOZU !As mentioned in my last analysis, the MID BOLLINGER BAND should be seen as a VERY, VERY, VERY IMPORTANT INDICATOR for the trend ! WEEKLY (W1) Ongoing weekly candle is showing a nice recovery attempt to breakout to the upside both weekly clouds top (42'570) and the Tenkan-Sen. Weekly closing will validate or invalidate this ongoing price action !!! DAILY (D) The upside breakout of the Mid Bollinger Band coupled with TS and KS, triggered a sharp acceleration (long white bullish candle-roughly a perfect MARUBOZU !) Such kind of candle is usually very BULLISH and should be confirmed by the next candle. The 38.2 % Fibonacci retracement @ 40'264.54 has already been filled and the BTC reached an intraday high so far @ 41'983 (the 50% Fib ret being @ 42'524, which is roughly the middle of the weekly clouds (in overlay on the daily chart) The Lagging line went up too and is still in the weekly clouds ! RSI above 50 @ 56.32 Today's price action and more important its closing level should give more clues for further development in validating or invalidating this Marubozu candle. In the meantime, watch shorter time frames from H4 to H5 which will help you to detect potential early signal of a trend reversal. 4 HOURS (H4) Watch how the upside breakout took place ! 1) Breakout of the upside of the clouds and the ongoing downtrend resistance line, but closing below the downtrend line 2) New upside breakout attempt of the downtrend line with a closing just above the downtrend line and the MBB and the KS 3) Opening above the cluster, retest of the top of the clouds support zone and strong explosion to the upside (long white candle 4) Follow through with 2 long white candles 5) "pause) in this sharp rally (small black candle) 6) ongoing candle attempting to move to the upside Lagging line above the clouds RSI @ 76 IMPLICATIONS : On this H4 time frame, the first significant support level is @ 40'750 A closing level (H4) below 4'0750 would be the first warning signal of a trend reversal in this H4 time frame. On the upside the 42'000 area (former high) ahead of 42'524 (50% Fib ret and roughly the top of the weekly clouds) are the next resistance levels to look at; a successfull breakout of 42'524 would put the focus on a very important point which is the 61.8% Fib ret @ 44'783 which coincides also to the top of the daily clouds. A clear breakout of the daily clouds on a daily closing basis would give additional conviction for further upside towards 47'500 and higher. 1 HOUR (H1) Above the clouds and the cluster of KS, MBB and TS. On this H1 time frame, first support to look at is @ 41'193. A failure to hold and stay sustainably above it would open the door for the 40'300 (important pivot area) in this time frame. On the upside, same than H4 15 MINUTES (15 M) Sideways price action around the cluster with the clouds (41'175-39'655) acting as the support zone. 23,6% Fib ret @ 40'634 and 38.2 % Fib ret @ 39'800 (rally from 36'270 to 41'983) On the upside, same than H4 Ironman8848 & Jean-Pierre Burki
BITSTAMP:BTCUSD
by Ironman8848
BTCUSD-D1- ADDITIONNAL BEARISH SIGNAL !As expected, yesterday's small recovery has been short lived !!! Indeed, RSI bearish divergence on H1, triggered a corrective move only, pushing up the BTCUSD towards an intraday high of 57'882, missing to breakout the clouds resistance area on this time frame... (magical clouds :-)...) In addition, recent price action triggered an other bearish signal : the lagging line crossed under the Kijun-Sen which should be seen as a second warning bearish signal following a first daily closing level (on Nov 22nd), below the double top trigger level of 57'500 !! So what next ? No change in my bearish view; current level are roughly in the middle of the daily clouds and I suggest to watch closely at the clouds which will tell you in which direction the BTCUSD will go. On the upside , the TS @ 58'687 is the first significant resistance level to look at and as long as ww stay below this point, the bearish pressure will remains ! In order to neutralise this ongoing downside price action, we need to see a clear breakout of the psychological 60'000 former support which became now an important resistance level to break on the upside ! On the downside, , no secret, watch again the clouds support zone, currently around 53'400 which also coincides with the former uptrend line support (in green). A failure to hold above 53'400 would directly put the focus on the 50'000 area ahead of the double top technical target @ 46'000 Have a nice trading day. Ironman8848
GEMINI:BTCUSD
by Ironman8848
NQ1 - D1 - 50% FIB RET FILLED @ 14883Volatility seen yesterday inside the triangle pattern; indeed after having been under selling pressure, test of the triangle support line, which finally hold and trigger a nice rebound, in breaking on the upside in reaching a high so far of 14'905, filling on its way up the 50% Fibonacci retracenent @ 14'883 of the former leg down from 15'399 to 14'367. The ETCUSD is also facing its first significant resistance (Tenkan-Sen & conversion line) which coincides with the bottom of the daily clouds resistance too...Watch also the lagging line, which, for the time being, managed to recover above the clouds. Slightly above there is the 61.8% Fib ret ƒ 15'005 ahead of MBB @ 15'065 (good leading indicator, as already mentioned on many occasions in my technical analysis) CONCLUSION : Watch, on a daily closing basis the following levels : ON THE UPSIDE : 15'065 ON THE DOWNSIDE : 14'750 And last but not least, monitor closely shorter time frames... Ironman8848
CME_MINI:NQ1!
by Ironman8848
ETHUSD - BREAKOUT NOT CONFIRMED YET !Despite a second consecutive daily closing above the clouds (around 3'500),(high @ 3632), the ETHUSD is still showing some uncertainty about further development as you can see the recent and current price action on this daily chart. Indeed, as I already mentioned yesterday, we still need to see, a "real" breakout confirmation, which, for the time being, it is not the case yet !!! Therefore, once again, today's closing might perhaps gives more clues about further direction and if the breakout confirmation does not occur soon, the bears will regain power to reverse the ongoing upside price action. Last but not least, the validation of the clouds breakout will be given by the Lagging span price action too !!! CONCLUSION : Monitor closely intraday shorter time frames as a failure to hold above 3'500 should be seen as a warning signal for a reversal !!! Ironman8848
by Ironman8848
5
NQ1E-mini-Futures - D1 - TRIANGLE !Looking at the daily picture, after having broke down the clouds, the Nasdaq 100 fut is triggering, a triangle formation in progress in a new broad bear trend ! Indeed, recent and current price action should be seen as a natural pullback towards the former support area which became now the new resistance to break in order to neutralise, temporary, the ongoing downside price action triggered a couple days ago by a successive of long black candles ! So what are the implications of a triangle breakout : a +/- move of 545 points, targeting respectively : ON THE UPSIDE : 15'315 (roughly the top of the clouds resistance area) ON THE DOWNSIDE : 13'896 (former weekly double top pattern seen in last February-April Interesting to note the 38.2% Fib ret (@ 14'761), of the downside move from 15399 to 14'367, also coincides to the triangle breakout level on the upside ! Last but not least, the Lagging span also failed to recover above this important level... CONCLUSION : Looking at the current price action, the odds are likely for further downside towards the triangle base. As always, monitor closely, shorter intraday time frames to get more clues which will help you to act accordingly. Have a nice day :-) Ironman8848
CME_MINI:NQ1!Short
by Ironman8848
5
Bitcoin ichimoku is crazy BULLISH! 🐃Hi everyone, wish y'all have a profitable lifestyle. 🕊 📍I am a big fan and believer in ichi-moku and its crazt TIPS which in my point of view works the best. 📍Last week we have seen crazy movements from Bitcoin's chart which surprised everyone including myself. 📍 I saw Laggin-span going inside the komu-cloud which is an extremely bullish sign of the chart and then the price coming out of the Komu which also was a second very bullish sign. ⚠️ What we also have to consider a very important factor is the gap between the tenk and kijun lines; whenever they have a huge gap either the price has to go and fill the gap or the movement is so sharp that it may avoid it. 📍 What I personally think that is going yo happen is that the price may have a reversal movement approximately around the date given because since the komu's shifts are very important. 📍 The interesting factor is the void between the coming TPs that makes the movement even easier. THIS IS NOT A FINANCIAL ADVICE THESE ARE JUST MY PERSONAL THOUGHTS ABOUT THE CHART NOTHING MORE
Long
by C_EWAVE13
Ascending TriangleHello everyone, Horizontal top with an upsloping bottom on NYSE:RIG . Breakout is upward. If the price is breaking the horizontal top, price will continue to go up. If it is not breaking up, then we are at the resistance and you should not buy. Using Ichimoku we can see that Lagging Span is above the price plus the the current price is above the cloud and the future cloud is green. Base line is also upward and the the Conversion line just crossed the Base line. However if the price break the horizontal top, we must be careful about a potential premature breakout. Happy trading,
NYSE:RIGLong
by Tomotto