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DXY and Crypto affect I expect a retracement on the DXY , thus I expect crypto to have a small relief . When DXY goes up it means that there is a sell off in assets , stocks and crypto as people cash out . Vice Versa. If DXY keeps increasing we might see more sell off in the next couple of days , but in my opinion I see that DXY will have a small retracement as mentioned before . DXY has still some strong resistances to break through . The last ATH was in 1985 around 165.
TVC:DXY
by Trader_Sentinel
Channel Trading On Luna 11/04/2022Channel Trading consist of price fluctuating between two parallel lines which forms the channel. We look to buy when price is bouncing off the trendline connecting the Hl and look to sell when on the upper trendline connecting the HH I wont speak too much on Channel Trading but if so please drop a comment. We have the bearish set ups on the left side of the screen with the bullish set ups on the right side. The green bubbles produced long entries whereas the purple bubbles produced short signals. BINANCE:LUNAUSDT
by LuxTradeVenture
FANG is not holding up.Happy Weekend Everyone. I put together a custom FANG Plus index to track the overall strength of the popular large cap growth stocks as these stocks have been the most widely held stocks for the past several years. This particular chart is a weekly candle chart using Fibonacci retracement levels taking the previous low from the past calendar year to the last high. As you can see the index retraced 100% of the previous 1 year move and then rallied back to the 50% retracement level. However that 50% retracement level proved to be hard resistance as we can see on the chart. Moreover, the last three weekly candles completed a bearish evening star pattern and the closing weekly candle is a bearish engulphing. While the two patterns are not text book perfect, the main tenets are in place IMO. Also bearish is that the basket of stocks could not hold the 30 Week EMA. RSI seems to confirm this negative setup. The RSI did get into positive territory during the rally from the low, but it failed to hold and fell back into the bearish regime. If the downtrend continues the 78% retracement level could offer support. Seasonality says that stocks should do well for April. It doesn't say that all stocks should do well. Time will tell. Anyway I found this interesting. Good luck to all. NASDAQ:AMZN NASDAQ:AAPL NASDAQ:GOOG NASDAQ:FB NASDAQ:NVDA NASDAQ:ADBE NASDAQ:MSFT NASDAQ:NFLX NASDAQ:TSLA On another note, I have Carolyn Boroden's book on Fibonacci Trading but I find it lacking. If anyone has a good book recommendation on Fibonacci please leave it in the comments below. Thank you!
NASDAQ:TSLA
by Breakout_Charts
7
DJI: Get ready - probable trend change for the southSee the video. No more hear on the video. I'll just share my opinions, which is not advice. The DJI proves me more wrong more times than I am right. So what? The issue is about limiting how wrong I am - not how many times I am wrong. New traders - and I was one - struggle to get that idea right. Why? Because in ordinary life one is praised for performance by how many times you're good. Well in trading it's very different. You can be wrong far more times than you are right, and it wouldn't matter. How is that? It's because you limited carefully your loss on the many occasions your were wrong, and you really milked it when on the occasions you were very right. In the end a sound trader in any methodology will find that profitable. Methodologies don’t work 'for you' - get it right; you work the methodology. That means a high level of discipline - which normally comes after much pain and loss. I never avoid talking about losses, because it is 'the most important thing' to control. Disclaimer: This is not advice or encouragement to trade securities or any asset class. This is not investment advice. Chart positions shown are not suggestions intended to assure you of an advantage. No predictions and no guarantees are supplied or implied. The author trades mostly trend following set ups which have a low win rate of approximately 40%. Heavy losses can be expected if trading live accounts or investing in any asset class. Any previous advantageous performance shown in other scenarios, is not indicative of future performance. If you make decisions based on opinion expressed here or on my profile and you lose your money, kindly sue yourself.
FOREXCOM:US30
by Captain_Walker
2
Growth vs Value. Technology vs Energy.While these two charts aren't the same, they are very similar. The top chart is a ratio chart of ARKK vs Berk.B. The bottom chart is a ratio chart of Tech vs Energy. If the top chart is any indication of the overall trend, then there's plenty of upside in energy still. The downside of ARKK vs BERK.B overshot the minimum downside target. This is a logical area for a bounce. The Tech vs Energy ratio looks to have a ways to go still. These rounded tops are very dependable reversal patterns. Keep your eye open for broken support lines when watching these rounded tops play out.
AMEX:XLKLong
by Breakout_Charts
Part 2) Don't Fight The FED. The Yield Curve is Fine.All over financial news we're being told that the yield curve is inverting, spreads are flattening, the recession clock is ticking, there's impending doom around every corner. CNBC, Bloomberg, Yahoo Finance, The Wall Street Journal, Forbes, The Economist, you pick your favorite news source and they're talking about 2's and 10's, 10's and 30's, it's Armageddon!!! How about we look at the actual indicator the FED uses to predict U.S. Recessions. The Federal Reserve uses the 10-year/3-month term spread as it's most reliable indicator to predict U.S. Recessions. The charts posted above come directly from the Federal Reserve of New York's website. According to the FED's data the likelihood of a recession in the next 12 months is about 6%. Here is the link to the website: www.newyorkfed.org Link to the interactive charts: www.newyorkfed.org Link to FAQ's: www.newyorkfed.org The team at All Star Charts did an interesting post on this topic just recently. I suggest you take a look. allstarcharts.com Food for thought. Thanks for reading. Good Luck to All!!
TVC:US10YEducation
by Breakout_Charts
Educational: Head and Shoulder Reversal Patterns.There are a number of reversal patterns that playout time and time again. The most reliable of the reversal patterns is the "Head & Shoulders" top and bottom. Some technicians don't like to use the term head & shoulders as it's used quite a bit and not all reversal patterns are confirmed and end end up being consolidation patterns instead. Whatever you like to call the pattern is irrelevant. What is important is that you can identify the pattern as it signals possible distribution and reversal of the prior trend. Some Background on Chart Patterns: Charles Dow first introduced Dow Theory in his writings in the Wall Street Journal well over 100 years ago. Dow Theory is the origin of trend following. In 1948 Edwards and Magee introduced Technical Analysis of Stock Trends. This book expanded on the work done by Dow and introduced chart patterns as a system to identify changes to the existing trend. In 1997 John J. Murphy introduced Technical Analysis of the Financial Markets which is considered by many to be the definitive work on trend analysis and chart patterns first introduced by Dow and refined by Edwards and Magee. If you're not familiar with these works I highly suggest looking into each. Identifying the Pattern: 1) There must be a trend in place. If the H&S pattern is a topping pattern then the prior trend must be an uptrend. If the H&S pattern is reversed and is a bottoming pattern then the prior trend must be a down trend. 2) As the pattern unfolds and the peaks are formed, a clearly defined support line called the neckline must be present. 3) Volume will confirm the pattern. Volume should be decreasing at the peak of each point in the left shoulder, head, and right shoulder. Confirming the Pattern: 1) The existing trendline is broken. 2) The neckline is broken. 3) The neckline will now act as resistance. (Often, but not always the price will try to reclaim the neckline shortly after breaking.) The Pattern is Invalid: 1) If volume is not receding at each peak then the technician should be skeptical of the validity of the pattern. 2) The right and left shoulder should be similar in height. Often times they are not, if in doubt use volume as your indicator. 3) Either the neckline or the prior trendline is retaken as support. Forecasting a Price Target: Using the measured move technique, the distance from the peak of the head to the neckline can be forecasted from the spot of the neckline being broken downwards. This distance can be used as a minimum downside price target. Example: This is an Apple Daily Line Chart from November 2020 to March 2021. All the important elements of a Head and Shoulders Reversal Pattern are evident. 1) A prior trend was in place. 2) The formation of the left shoulder, head, and right shoulder. 3) Retreating volume at each peak. 4) Breaking of the trendline. 5) Breaking of the Neckline. 6) Price tries to recapture the Neckline but fails. 7) Minimum downside target is reached. Conclusion: Pattern recognition is as much of an art form as it is a science. As technicians we want to draw our lines with fat crayons vs thin pencils. Patterns don't always follow the text books. The key is to understand the main tenants of each pattern and try to spot their formations before they confirm. Thanks for taking the time to read this. Good luck to all!
NASDAQ:AAPLEducation
by Breakout_Charts
7
CRO 0.64 $ or back to 0.37 $ ?hello I hope you are doing well. I always like to keep the chart simple. Green path : if today's candle closes green and above 0.45 $ with good volume, it's an entry on the daily chart. Red path : close below 0.45 $ which is mean we can't be bullish anymore until seeing another resistance breakout, and the price will be drop to around 0.35 - 0.37 $ ..... on 4h chart , we had a retest kinda , but some people wait for bullish engulf or wait for 2 green candles to enter a trade. also we had a bullish Divergence on RSI ..... not financial advice ! let me know what do you think and share your ideas with me , please ! have a good day !
Long
by coocoolikoo
might be right might be wrong, are bears back?Try using your own thoughts... everyone can be wrong... there are patterns for either directions .. Indicators talk only about the past, they don't tell you about the future, forget about indicators, price action and harmony are better,,, Although they too may be distorted due to the leveraged trends specially on shorter TFs. Most of many who claim being trading teachers, the owner of the blah blah academy and such , aint know nothing... the economy has failed worldwide, otherwise the world would not be in this situation... we are facing economy collapse, do you thing the invented and many made up tools are perfect? perhaps no!! Only gold is Gold
Short
by first_rain