If that happens, potential support levels to watch - 13505, 13445 and 13340
The last several candles have had a small range and we have a dilemma here: several question for discussion. Are we at support or resistance? This horizontal line that we are at is a daily line so it should be quite strong weather support or resistance. And remember S/R is a zone not a one line. Also seen is a ascending triangle and although books say this is...
NAS100 has held support for two weeks now. Nice R:R here.
This is a textbook broadening wedge (megaphone). Although price can breakout either above the top line or below the lower line my bias is short. line as the 4h time frame shows overbought on RSI. This wedge has been touched by price 3 time on both top and bottom and this is the requirement for validation. I don’t know yet if I will take this trade as it is rather...
RSI overbought but MFI isn't Market sure looks bullish but I don't chase overbought conditions. NQ looks like it wants to double top so staying cash for now.
My old line here is where it has rejected so far.
I have peaked the trade in green with my target price as shown. I will re evaluate at tip of wedge as they may possibly be a good place to enter short for big profit.
If anyone has varying counts post below!!!
We should have an easy ride to ATH in the coming month if growth stocks can catch a bid.
Indicators don't show a direction but if this breaks the blue line it's headed to the next one down again.
SPY about to launch off the 2hr...chart! chart self-explanatory. We are looking for a bounce just like the past bounces, we are slowely rising... should close big in the next few business days. Long here
We are nearing a third red month on Ndx... is it ready for another march 2020 like crash? This is not a call! Just never say never! :D
Classic Bullish Divergence on the 30m.. if it can break out of this downtrend, potential for a move up to resistance
A little dip there but the pattern still holds. Expecting it to go overbought tomorrow, since teh market can only go down on Thursday when the market is bullish.
I love seeing and showing examples of pattern breakouts. Either failed or successful. This is an example of a perfect breakout of down ward wedge on NQ position I took. I will post more pattern succes and failures as they arise.
NQ one hour time frame entered into an up channel. The market is now breaking the counter trend line bullish. If the market can close above the counter trend line bullish and stay above the counter trend line bullish. The research shows it should push +1,000 ticks towards the Fibonacci limit.
Good morning. Potential bearish Cypher pattern.. meaning at target we could get retrace for nice scalp. Manage accordingly and have a great day!!