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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
GOLD is STRONG BUY. As of now, Gold has broke the box again and currently on the breakout of going up again. However, it could be a fakeout and can meddle again in the zone, so please trade wisely. You might ask me is this even an Analysis? and yes. I keep it simple and straight. Gold is still fundamentally bullish as well because of the Russian-Ukraine War, plus the buyers are really strong. However I believe it could go down if something happens, but overall in all timeframes, Gold is a strong buy.
FXOPEN:XAUUSDLong
by nvrfxtrading
3
BTC Long or Short?Hey folks, happy weekends! BTC seems to be at a zone of strong resistance and this is an important decision point. Overall, BTC looks more bearish while there are some indicators that points to the bullish side such as the wyckoff distribution pattern. The RSI is currently oversold and we see whales dumping at the resistance line. ABCDE correction pattern also seems to be taking place in the bear flag that has formed. On the weekly timeframe, bitcoin looks really bullish and ready for a breakout and it does seem to be following the Wyckoff distribution pattern, but we also see a bearish RSI divergence on the weekly timeframe. For short term traders, it might be smart to sell now and buy in once it breaks above the resistance line. For long term traders, it's probably a good idea to just hold onto your bitcoin because it's going to go up eventually.
BYBIT:BTCUSD.P
by kenhuangsy2