We are in for a short term bounce but still in bear marketThe rsi is very oversold. We should be in for a short bounce but it might not be meaningful in this weak tech market. However it's probably not a bad area here to start averaging down.
Oversold
$PLTR Trade-Setup LONGI rally like Palantir at this spot, backtest of the pattern completion zone of the harmonic in the 4h chart.
Daily chart RSI is at 16, poised for some kind of bounce.
Buy in, TP's and Stopp Loss as in the chart.
Good luck out there!
Like, Comment and subscribe pls! :)
Symmetrical Triangle - UpdateHD catching my eye here after it bounced off the long-term uptrend it has been holding- Currently sitting right on its 200-day EMA, seemingly looking to reclaim and close above the .786 FIB level, MACD cross on the 4-hour, forming a big symmetrical triangle while also starting to break out of a falling wedge on the hourly timeframe. Additionally, HD formed a massive bullish shark harmonic pattern- Personally am bullish and will be looking for a breakout here (Broader Market Conditions Permitting) Just some FIB levels & RSI-based supply and demand zones to keep an eye on in the meantime - Previous charts are attached below
- Bullish Shark Harmonic Pattern
- MACD Golden Cross on the 4-Hour Timeframe (Not Pictured)
- Breaking out of a falling wedge on the hourly timeframe (Not Pictured)
- Sitting on the 200-day EMA as well as the .786 FIB level
- RSI starting to get out of oversold territory with buyer volume picking up
PT1- $360.68
PT2- $361.17
PT3- $362.12
PT4- $354.20
--Previously Charted--
Bullish Crab Looking For Bids to the UpsideWe have a double bottom here at the pcz after reaching oversold multiple times this my be the indication of a temporary bottom.
Amazon and my shopping basketDisney, T Mobile, Amazon, Charter Communications, Netflix.
What do all of these companies have in common?
1) They are all >$100B market cap.
2) They all have >10B Gross Profits.
3) They are all at 52 Week Lows.
4) They're all on my shopping list.
Amazon just had it's worst week since 2018 after underperforming the S+P in 2021, but this behemoth isn't going anywhere. I don't need to tell you about the value of it's core ecommerce business that we all use, or the AWS that runs a huge chunk of the internet, the 2nd largest hosting provider with their cloud hosting servicing 42% of the top 10k websites by traffic (Source: BuiltWith), or the success of Prime through logistical brilliance, a successful streaming platform and acquisition of Wholefoods to make the most convenient home shopping platform in the world.
I don't have to tell you about the 31 acquisitions Amazon has made since 2017, 15 of those since 2019.
I don't have to tell you that Amazon is an incredible company that still has a long runway of success and innovation ahead in a growing number of sectors (drones? Yes please!)
That's why Amazon is one of my top choices for investment in 2022.
The business circumstances for each company deserve separate posts in their own right, but to put it simply these companies are the cream of the crop in their industries and we currently have a fire sale.
When the market dips, it's the perfect time to go shopping, and each of these companies deserve serious consideration in your portfolio. Do your own research and make your decisions, but when it comes time to go bargain hunting why not start with the best in class?
A few more stocks I'm looking at meet that >$100B market cap, >$10B gross profits, industry leaders but that are at 6 Month Lows include:
Estee Lauder
Target
Oracle
Blackrock
Salesforce
Alphabet (GOOG)
We can see where the market takes us this week, but I can say with certainty I'll be a buyer on a number of these names this week.
Falling Wedge- Bullish (Long) - UpdateBeen a while since I've posted an update on ETH, starting to catch my eye here as it continues to sell off for potential long entries. ETH is holding quite a large falling wedge here on the daily timeframe but also is testing a long-term uptrend line. ETH is also seeming to be following an ABCDE Elliot wave so will be looking for a potential bounce or breakout after completion. (correctional wave, however, if at the end of the E wave there is no demand on the buy side, there will be no breakout).
Lastly, something certainly worth noting and keeping an eye on the weekly timeframe- a bearish bat harmonic pattern is formed and currently playing out (See Attached Chart Below). Just some support and resistance levels to watch along with some RSI based supply and demand zones to keep an eye on in the meantime- Bearish in the short-term but bullish in the long-term so will be watching closely for potential long entries, all previous charts are attached below
- Falling wedge on the daily timeframe
- RSI in oversold territory on the daily timeframe
- ABCDE Elliot Correctional Wave playing out
- Bearish bat harmonic pattern on the weekly timeframe (See Attached Chart Below)
- Declining volume on the weekly timeframe (See Attached Chart Below)
--Weekly Timeframe--
--Previously Charted--
$SPY oversold?? $SPY broke the previous support of 457 approaching below 430. in all time frame SPY is really bearish. but the RSI on 1hr and 4hr chart shows that its oversold.
oversold level doesn't mean it will bounce there. But the probability of short bounce is there. overall it seems the market is trying to deplete itself at the moment.
most of the stocks that is rallying from this market are the retailers and energy. basically there is probability that the market is going in cyclical rotation but I could be wrong..
Day trade or scalp target play: 01/24/22
Buy call above 444.44 sell at 450.93
Buy puts below 434.60 sell at 431.22
Hello everyone,
welcome to this free technical analysis . ( mostly momentum play )
I am going to explain where I think this stock is going to go over the next day or week play and where I would look for trading opportunities
for day trades or scalp play.
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GBP/USD Bearish Scenario expected - oversoldHello Traders
Here is a new SELL Scenario, oversold signals coming from the RSI and the Stochastics.
💹GBPUSD SELL STOP
✅ Entry @1.37200 or below
✅TP-1# 1.37000
✅TP-2# 1.36800
✅TP-3# 1.36600
✅SL# 1.37600
JamdeJam will not accept any liability for loss or damage as a result of
reliance on the information contained within this channel including
data, quotes, charts and buy/sell signals
BNB (Updates)BNB is going down too, continuing deeper with the bull flag pattern on the hourly. 417.5 we might get a bounce off from there. Bearish cross on the macd, rsi reaching oversold. Drag down by BTC.
BNB 1H
Playing Sofi long here! Picked up a nice size position based on December 28,2020 candle wick high of $13.04. I've got another buy set for December 22,2020 high of $12.14. Doesn't look like it will get there, but I'm prepared.
Now I'm looking for a move to $13.93 this week and then $17.15 this month.
I like the fundamentals of sofi. With higher interest rates, pending bank charter approval, year over year growth, and super bowl LVI this year; it has potential.
Long on Sofi and the new developing neobank eco system.
Correction , Wedge-pattern , Possible Bullish reversal trendHello Traders !
I hope your doing well :)
- Please push the like button if you like the content or drop a comment to share your idea!
- On Weekly chart we can that ALGO is trading in ascending channel making higher highs and higher lows , if we zoom in to catch more data we can see that on our 1 daily time frame chart ALGOUSDT is currently trading inside an falling wedge pattern after the big impulse we had on 8 September 2021 , since then correction started.
-Based on the favorable scenario buyers will try to maintain level of support 0.9$-1.0$ ( strong demand area ) which is confirmed back on September 2021 where we had our RBR ( Rally , Base , Rally ) indicating that this an important level for buyers to push price higher.
-Until now Price action is performing inside this wedge pattern making lowers lows and lower highs waiting for the scenario to be achieved, otherwise we can fall towards level of support of 0.75$ which i doubt.
-We need to see the buyers taking price higher soon starting from our demand zone and reclaiming the last low swing and initiate the breakout to validate our scenario.
Good Luck Traders!
Shiba Inu is it ready for another zero down?Hello Traders,
Just wanted to make a few points here and talk about my plan for shib. As you can see Shib has been forming a descending channel for 3 full months. Which recently on the last pullback within the channel the RSI reached oversold territory. Previously back in September of 2021 the RSI also hit this same area and this indicated it had bottomed. I am looking to see if it does the same this time. You can also see some bullish divergence on the MACD.
Yet, if we do see one more pullback from this area I would think the RSI would be diverged as the price action hits the bottom of the channel in the demand zone as well as the area where the trend line having a nice confluence of areas to buy, then I would enter my trade there and place my stop loss directly under this area as you can see on the chart.
Have a green week and I will see you in the next analysis!
Savvy
DIS bullish trade DIS oversold here on 1H chart. Plus we have found support and bouncing from this TL here which has held nicely so far. Stochastics oversold and turning up here. Possible retrace to 153 here. SL below todays low. Plus we also have lots of call flow coming in for for the 152.50 strike calls for 01/21/22
EURCAD Bounce Incoming!EURCAD has established an upward channel and is now almost at the bottom of that channel.
RSI is oversold at 28.9 on the 4Hour, has hit 28 before bouncing back above on the 2Hour and bottomed at 31.8 before bouncing on the 6Hour.
Directly below the price we see the lower boundary of the upward channel and a previous good Demand Zone.
Price may continue down to touch the lower channel boundary and the demand zone, which will push the RSI further into the oversold range and give us a very advantageous Risk/Reward opportunity.
EUR/GBP - Threatening Year Lows, Reversal Incoming?We have been trending to the downside in 2021, however we have started to see some rangebound movements and more consistent cycles in the markets. We are approaching the end of the current downside cycle with price residing inside our demand zone, testing the key 0.84 whole level and threatening yearly lows. Stochastics also in oversold territory, is a reversal pending?
BTC - Heads Shoulders Knees and ToesBTC is still below The Median Line of its Longterm Upwards Pitchfork Pattern on this 1d timeframe.
Note that BTC has not closed a daily candle below the Lower Yellow Pitchfork Support Line since the 7th Nov 2020.
Note that BTC has previously found support from this Lower Yellow Pitchfork Support Line on the 20th and 21st of July 2021.
BTC is still below its Bollinger Bands Middle Band Basis 20 Period SMA for this 1d timeframe. Not that the Upper and Lower Bands are still heading slightly sideways but we do have a bit of expansion so we should expect more negative expansion if the price continues to drop.
BTC is still below its Least Squares Moving Average (LSMA) for this 1d timeframe. A close above the LSMA is a BUY signal and a close below the LSMA is a SELL signal for this indicator.
The Head and Shoulders Pattern is still running its course. BTC needs to stay above the Lower Support Area i have indicated or next stop will be the H&S Neckline.
BTC is still below its Volume Profile Visible Range Point of Control (VPVR POC) for this chart’s Visible Range.
BTC is below its Volume Profile Fixed Range Point of Control (VPFR POC) for the Fixed Range of 13x 1d candles that i have selected.
Note that the last 2 Volume Bars have closed above its Volume 20 Period MA and they closed in the red.
I have added a Trend-Based Fib Extension which show a few potential Fib levels that could be used for potential profit taking if you are short.
The Moving Average Convergence Divergence (MACD) is indicating that we may possibly see a SELL signal on this indicator because you can clearly see that the MACD (Blue Line) is very close to crossing back under the Signal Line (Orange Line), which is a sell signal for this indicator. Note that the MACD Line (Blue Line) is still in the Negative Zone under the 0.0 Base Line.
If we look at the Stochastic Indicator (STOCH), we can see that the %K (Blue Line) is still under its %D (Orange Line) and is also in the Oversold Zone under the 20 Line. At the moment, if the %K (Blue Line) crosses back above the %D (Orange Line) I personally would not jump in on a long using this indicator alone, i would asses how the daily candle closed as well to check if there is any potential Divergence between the STOCH and the price.
If we look at the Average Directional Index (ADX DI) we can see that the Trend Strength is strong with the ADX (Orange Line) rising to 30.55. We may see the ADX (Orange Line) cross back above its 9 Period EMA (Black line) which is at 32.39 and would be a further sign of the Trend Strength. The -DI (Red Line) is at 31.92 and way above its +DI (Green Line) which is at 16.06. This indicates that Negative Momentum is hugely dominant over Positive Momentum on this 1d timeframe.
For your viewing pleasure, here is a closer look at this 1d chart.
For your viewing pleasure, here is a wider look at the Longterm Pitchfork Pattern (A,B,C) on this 1d chart.
Looking at the previous 6d Chart i did, note that BTC is 2 days aways from closing this 6d candle which may potentially close as a BEARISH ENGULFING Candle on the 6d timeframe. But a lot can happen and change in 2 days.
So what does all this mean?
If the MACD produces a SELL Signal on this 1d timeframe then we will see further drops on this 1d timeframe. If BTC crosses below and more importantly CLOSES a daily candle below its CRUCIAL Lower Yellow Pitchfork Support Line then that becomes resistance and we should expect that BTC will eventually cross under the H&S neckline leading to even further drops that may be cushioned by some of the Trend-Based Fib Extension levels. In any case, a lot can happen in 2 days but at the moment it looks like there may still be some really good buying opportunities coming up for all crypto in general.
I hope you have found this analysis post helpful with your trading and hodl-ing.
Notes:
LSMA = Black Squiggly Line on chart
Bollinger Bands = Grey Bands on chart
Pitchfork Pattern = Follow the A,B,C
VPFR POC = Short Horizontal Blue Dotted Line on chart
VPVR POC = Long Horizontal Blue Dotted Line on chart
Support and Resistance Areas = Black Horizontal Lines with Blue Shading on chart
H&S Pattern = You know where that is ;-)
VTHO - 1d chart updateVTHO is back above its Bollinger Bands Middle Band Basis 20 Period SMA for this 1d timeframe. Note that the Upper and Lower Bands are moving sideways and have plenty of room to expand.
VTHO is still above its Least Squares Moving Average (LSMA) for this 1d timeframe.
VTHO is still above its Volume Profile Fixed Range Point of Control (VPFR POC) for the Fixed Range of 5x daily candles i have elected.
At the moment, VTHO is still below its Volume Profile Visible Range Point of Control (VPVR POC) for this chart’s Visible Range.
Note that Volume has been increasing but the last 13x Volume Bars have closed below its Volume 20 Period MA.
If we look at the Moving Average Convergence Divergence (MACD) we can see that the MACD Line (Blue Line) is still above its Signal Line (Orange Line) and is indicating Momentum is upwards at the moment on this 1d timeframe. Note that the MACD Line (Blue Line) still has a long way to go before crossing back over the 0.0 Base Line back into the Positive Zone.
If we look at the Stochastic Indicator (STOCH) we can see that the %K Line (Blue Line) is above its %D Line (Orange Line) and has now crossed into the Overbought Zone. Being in the Overbought Zone doesn’t mean the %K Line will drop as it can go slightly higher and even range sideways within a range in the Overbought Zone for a prolonged period of time.
If we look at the Average Directional Index (ADX DI) we can see that Negative Momentum has dropped with the -DI (Red Line) dropping to 21.60. Positive momentum has risen but is now slightly sloping down at 18.40. Not that the Trend Strength is still strong with the ADX (Orange Line) at 25.26 but note that the ADX (Orange Line) has dropped below its 9 Period EMA (Black Line) which is at 26.86 so the ADX has lost some Trend Strength but its still good because the ADX is still above the 20 Threshold. Be on the lookout for when the +DI (Green Line) crosses back ABOVE the -DI (Red Line) which will indicate that Positive Momentum is now dominant over Negative Momentum on this 1d timeframe.
Here is a wider view of this VTHO 1d chart:
Note that VTHO is in a Massive Symmetrical Triangle Type Pattern on this 1d timeframe.
I have added a few Support and Resistance Areas of interest indicted by Horizontal Black Lines with yellow Shading. At the moment VTHO is trying to get back above its first resistance area. A successful close above this level will be a very good sign for continued upwards momentum.
I hope this is helpful with your trading and hodl-ing,
Notes:
LSMA = Black Squiggly Line on chart
Bollinger Bands = Grey Bands on chart
VPVR POC = Long Horizontal Red Dotted Lines on chart
VPFR POC = Short Horizontal Red Dotted Lines on chart
Resistance and Support Area = Horizontal Parallel Lines with Yellow Shading on chart
Falling Wedge- Bullish - UpdateENPH starting to look really nice here after pulling back to the 200-day EMA following new ATHs. Big falling wedge forming on the 4-Hour and Daily Timeframes. Certainly a longer-term play, however, bullish and will be looking for a breakout from this wedge (Broader Market Conditions Permitting). Just some support and resistance levels to watch along with some RSI-based supply and demand zones to keep an eye on in the meantime- Bullish and looking for a breakout, see previous charts attached below for previous price targets.
- Bullish Hammer off the 200-Day EMA
- RSI in Oversold Territory
- Falling Wedge
- Slight Gap to FIll on the Upside
- Holding Above VWAP on the 4-Hour (See Attached Chart Below)
- Falling Wedge on the TAN ETF as well
PT1- $185.37
PT2- $187.64
PT3- $189.36
PT4- $191.48
--4-Hour Timeframe--
--Previously Charted--
--TAN--
Falling Wedge- BullishNET starting to catch my eye here after holding this falling wedge for quite some time now. Seemingly has found some support as it closed on the daily timeframe sitting right on its 200-Day EMA. Bullish and will be looking for a breakout from this wedge (Broader Markets Permitting) - Just some support and resistance levels along with some RSI-based supply and demand zones to keep an eye on the meantime-
Hourly Timeframe Attached Below
- Sitting on its 200-day EMA
- RSI is Nearing Oversold Territory (Not Pictured)
- Bollinger Bands Squeezing on the Hourly Timeframe (See Attached Chart Below)
- Bullish Hidden Divergence on the RSI on the Hourly Timeframe (See Attached Chart Below)
- MACD Cross on the 4-Hour Timeframe (Not Pictured)
- Buyer Volume Starting to Pick up Relative to Seller Volume
PT1- $132.34
PT2- $134.40
PT3- $136.36
PT4- $138.92
--Hourly Timeframe--
GBPCAD Sell OpportunityPrice is at an interesting QM level. After price rallied up, it came down, breaking important swings on the way down before retracing to the QM level. I think price is poised to go down to the target.
Falling Wedge- BullishSPCE starting to catch my eye here after selling off for quite some time in addition to getting beaten down amidst all of the intraday volatility. SPCE holding a big falling wedge, buyers starting to step in, RSI finally starting to come out of oversold territory. Additionally worth noting that SPCE has a space flight next month could act as a catalyst.- Bullish and will be looking for a breakout from this wedge (Broader Markets Permitting) - Just some support and resistance levels along with some RSI-based supply and demand zones to keep an eye on in the meantime - Bullish and looking for a breakout from this wedge - (See charts attached in the description below)
- Falling Wedge on the 4-hour and Daily Timeframes
- MACD Cross & Bullish Hidden Divergence on the RSI on the Daily & 4-Hour Timeframe (See Attached Chart Below)
- Small Gap Fill on the Upside Circa $23.03-21.74 (See Attached Chart Below)
- Bollinger Bands Squeezing & Buyer Volume Starting to Pick Up Relative to Seller Volume
PT1- $15.09
PT2- $15.90
PT3- $16.44
PT4- $16.87+
--4-Hour Timeframe--
ADA - The BB Middle Band Basis is a crucial level on the dailyADA is still below its Bollinger Bands Middle Band Basis 20 Period SMA on this 1d timeframe. Note that ADA has not closed a daily candle above the BB Middle Band Basis since 13th Nov 2021. ADA needs to 100% CLOSE a daily candle back ABOVE its BB Middle Band Basis and successful retest as support for any recovery to look promising.
ADA has found some support from its Least Squares Moving Average (LSMA) level. Note that a daily close below the LSMA will be a potential sell signal for this 1d timeframe.
Using the 20,60,120,30 settings we can see that ADA is still well within the Bearish Zone of the Ichimoku Cloud and has a long way to go before it can attempt to get back in the Equilibrium Zone.
ADA is in a Falling Wedge Pattern on this 1d timeframe. This Falling Wedge Pattern is potentially BULLISH as it’s developed after the previous uptrend so it could be a Bullish Continuation.
The Dashed Black line is a major support and ADA has bounced off it as support 3 times over the last 7 Months. A daily close BELOW this level will be a sign that we may see further downwards momentum on this 1d timeframe.
Note that ADA is below its VPFR POC for the fixed range of 13 daily candles that i have selected.
Note that ADA is also still way below its VPVR POC for this charts visible range.
Note that Volume is still low on this 1d Binance chart and the last 9 Daily Volume Bars have been below its Volume 20 Period Moving Average.
If we look at the Moving Average Convergence Divergence (MACD) we can see that the MACD Line (Blue Line) is still in the Negative Zone under the 0.0 Basel Line on this 1d timeframe. Note that the MACD Line (Blue Line) is still above the Signal Line (Orange Line). If the MACD Line (Blue Line) crosses below the Signal Line (Orange Line) then that will be a sell signal on this 1d timeframe. Note that the MACD Line (Blue Line) has not be in the Positive Zone above the 0.0 Base Line since 17th Sept 2021.
If we take a quick look at the Stochastic (STOCH) we can see that the %K Line (Blue Line) is under the %D Line (Orange Line) and at the moment is also starting to slope slightly upwards and is out of the OVERSOLD ZONE of the STOCH indicator but note that it is a fast reacting indicator. Be on the look out for if/when the %K Line (Blue Line) crosses back ABOVE the %D Line (Orange Line).
ADA needs to stay ABOVE the LSMA and ADA especially needs to stay above the Dashed Black Line which is a major support line. If ADA cannot CLOSE back ABOVE the BB Middle Band Basis on this 1d timeframe then ADA will continue to go downwards over time. This goes the same for BTC, the BB Middle Band Basis is a very crucial level to keep an eye on.
I hope this is helpful with your Trading and Hodl-ing.
Notes:
Falling Wedge Pattern = Descending Converging Black Lines on Chart
Major Support Line = Ascending Dashed Black Line on Chart
LSMA = Black Squiggly line on Chart
Bollinger Bands = Grey Bands on Chart
Ichimoku Cloud = Red and Green Cloud on Chart
VPFR POC = Short Horizontal Red Line on Chart
VPVR POC = Long Horizontal Red Line on Chart
Volume Bars = Bars Bottom of Chart
Volume 20 MA = Orange Line going through Volume Bars on Chart
