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Pivot

Key resistance retest forecastPresented is the 4 hr chart. I mapped out the first key resistance with the previous resistance breach (which now is an established support). MACD/SIGNAL made a cross while above 0 line. RSI is breaching overbought zone. Current RSI pattern tells us a pivot is near however we have not seen these levels for a bit so a change in pattern (breaching further into overbought zone) may be in play. I will pay close attention to RSI play out to determine my pivot point. Stopmloss below new support and take profits as presented on chart while watching for a pivot. Please comment with thoughts and ideas. Thank you.
Long
by Pika7993
1
Directional analysisPresented is a brief directional analysis using the 1 hr chart. The trend continued its sell off to start the week following last weeks close. For continuation sentiment I analyze the day chart. Here I see a retest of the next support (very near). This is a great opportunity for buyers to be patient for a potential pivot. Strong sentiment would lean towards sell continuation if we see a clear breach through support on the day chart with no rejection. If the above scenario plays out expect sellers to load increase sell off to the next Key support at .82900 (presented on chart). I will be watching the MACD/SIGNAL closely for a diversion (which would tell us too lean towards a support breach) or a full signal cross (which would tell us to lean towards a pivot reversal). RSI will continue to zig-zag swim ( I call dolphin swimming through the waves) along the bottom of the oversold zone until MACD/SIGNAL plays out its role. I will publish a trade analysis based off a breach or pivot of the looming support. Please comment with thoughts and ideas. Thank you.
by Pika7993
Technical buy analysis off wick supportCurrently we are seeing some wick support at 1.53700 with pivots. I sentiment a pivot in play here pending technical indicators play out. MACD seems to be completing its sell off as it is rounding out of bin territory and setting for a snipe cross through SIGNAL followed by an immediate cross through the 0 line. This surely would pivot RSI out the oversold zone to start the trek back towards overbought. Take profit at top resistance however be mindful the take profit might be a wick touch only to retrace back to the trends pivot zone (which I mapped out on this 1 hr chart). Stop loss of course would be a breach below this support hold with continuation. Please comment with thoughts and ideas. Thank you.
Long
by Pika7993
4hr Chart technical buy analysisPresented is a technical analysis on the 4hr chart. As we can observe there is huge buyer volume following a MACD/Signal cross. Further more a 0 line cross will spike further momentum. I boxed a pivot zone area as you can correlate previous pivots at the expressed level. pay attention to the 1 hr chart to determine if a pivot in trend is in play or a pivot multiple bar retrace to continue bull trend. RSI is currently slanting further towards the overbought zone, a typical indication of buyers in control. Take profit as mapped on chart and stop loss below a break of the current support hold. Please comment with thoughts and ideas. Thank you.
Long
by Pika7993
Technical sell analysisPresented is a 1hr chart sell analysis. We can see rejection around 118.000. We may see a slight pivot to make a complete retest of 118.000 before the drop. I sentiment an incoming sell off if MACD/SIGNAL make a full cross through the 0 line. While this is happening we can see RSI forming a lower low breaking support in a slant pattern heading for the oversold zone. I have 3 TP targets as mapped on the chart. These targets also serve as potential pivots. Do not jump the gun and close out unless there are pivots the\at breach key resistance. Please comment with thoughts and ideas. Thank you.
Short
by Pika7993
1
Sell off top channel resistanceThis is a 1 hr chart technical analysis. We are finding continued rejections around 127.100 following previous trend patterns off support/resistance pivots. Currently RSI is forming lower lows while price is within higher high range. This correlating with a MACD/SIGNAL cross down through 0 line to retest our key supports of 126.700 and 126.500 (which are our TP targets). Stop loss is place above top resistance with a breach and continuation. Please comment with thoughts and ideas. Thank you.
Short
by Pika7993
3
$TLRYTilray, Inc. engages in the research, cultivation, processing, and distribution of medical cannabis. The company offers its products to patients, physicians, pharmacies, governments, and hospitals; and for researchers for commercial purposes, as well as compassionate access and clinical research applications. It operates in Argentina, Australia, Canada, Chile, Croatia, Cyprus, the Czech Republic, Germany, Israel, Ireland, New Zealand, South Africa, Switzerland, the United States, and the United Kingdom. The company was incorporated in 2018 and is headquartered in Nanaimo, Canada.
NASDAQ:TLRYLong
by BADQOMOCAWGOWLD
1
BTC bitcoin. Help for hodlers moonboys & doomboysIts called a range. If you wanna trade a breakout move you have to wait it out or find a way to profit off a range. These are camarilla pivots. your range is clearly show and your targets. How to use this info? If you want to long or short a range reversal at H/L3 target the 3 on other side and beyond. stoploss at the H/L4 just above or below your entry on rejection or loss of the 3. If you wanna play a range break with a confirmation. wait for H/L4 to be broke on preferably a 3hour or more unless volume is nice. target is H/L 5-6 with your stoploss at the H/L3 on the side you took your trade in. Good luck. Nothing confirmed until this step first taken. Enjoy.
by Gunslinger2005
1
EUR ZAR (possible long entry - possible to be a VERY big trade)This is another easy and straight forward setup. This appears to be an Elliot wave 5 wave fractal pattern. It seems to me that we are probably in wave 4, though I do not think wave is finished yet. Wave 4 likes to finish near the top of wave 1. We should be in the ABC/complex correction of the minor waves. We are in a small uptrend that is actually a bear flag in the overall bigger picture. However, it seems we still have upside potential. I will be looking for price to breakout of the counter trend line, probably near the current support level, then ride the counter trend line down to the false break zone near the very bottom trend line. We have stronger support here, the top of wave 1, and an expected place for the bottom of wave 4 to rest. From here it is a long way up to the conservative take profit just before the top of wave 3. If wave 5 is not truncated we can expected a much much bigger move past wave 3 and off of the screen shot. Massive pips can be made off of this trade.
Long
by sgsummers
Very detailed direction forecastI put together this very detailed forecast based off chart pattern picked up on. I numbered my steps in detailing the chart to create a legitimate visualization for all to understand. 1. We see continuous rejection at 127.000 with an eventual high volume pivot. 2. We see continuous support at 126.000 keeping the trend within the straight channel between support and resistance. 3. Off the support pivot we see a break through 127.000 to be rejected at 127.500 creating new top resistance. 4. Off top resistant rejection we see a strong sell off that flew through 126.000 support with continuation. This sentiments true sell off loading up from 127.500 rejection. 5. I am watching for a market open pullback to create first weekly resistance. I sentiment this due to how far the RSI breached oversold. For continuation RSI will trade in and out of oversold zone. 6. First support retest is at 125.000 with a safe sell entry point below as long a breach and close out occurs on 1 hr. 7. A break and close out below 124.500 will create massive seller volume for a second sell entry to retest next major supports at 123.000 and 122.500. If momentum is strong enough a final retest will occur at 121.500. Attached is my previous sell that had TP at 126.000 which smashed through hence my heavy sentiment for this trade. Any strong supports pivots at my first major supports may aim to channel resistance. Please observe carefully following my steps and comment with any thoughts and ideas. Thank you.
Short
by Pika7993
3
Bitcoin Daily Tech Analysis – January 13th, 2021It’s a bearish start to the day for Bitcoin, with the slide from last week’s all-time high $41,969 spooking investors. Support and Resistance Levels A move back through the 23.6% FIB of $33,008 and a move through the pivot level at $34,402 would support a run at the first major resistance level at $36,377. Support from the broader market is going to be needed, however, for Bitcoin to breakout from $35,500 levels. A break through the first major resistance level would bring the resistance at $40,000 into play. The second major resistance level sits at $38,631. Failure to move through the 23.6% FIB of $33,008 and the $34,402 pivot would leave the first major support level at $32,148 in play. Barring a crypto meltdown, Bitcoin should avoid sub-$30,000 levels. The second major support level at $30,173 should limit the downside. EMAs and MACD Looking at the 50 EMA, a pullback from the 100 EMA and 200 EMA supports further downside ahead. The 100 EMA is also closing in on the 200 EMA this morning. The MACD is also signaling a bearish trend ahead, with a widening of the bearish histograms supporting this morning's pullback.
BITFINEX:BTCUSD
by FXEmpirecom