Gold XAUUSD Point and Figure 1 Day Everyone expecting a big sell, however its the opposite. a Smmall buy 5 bars up to $1900 then Sell to $1600.
And BOOM!!! Huge Buy to Heaven
Point-and-figure
Devouring Netflix with Point&Figure analysis. Market Top. SHORT.Netflix hit an all-time high, then corrected. It crept below the uptrend line but didn't generate a sell-signal below it. It passed back above the uptrend line but hit the resistance roof. Again, it just crept below the uptrend line but without a sell-signal, suggesting that the trendline is acting as support, albeit loose support. The price climbed above again but then broke the uptrend line and generated a Double-Bottom sell-signal.
Following the double-bottom sell, it fell by a further two boxes before being supported by the original uptrend line. It then rallied upwards but couldn't reach the second uptrend line which suggests this trendline now may switch to a resistance role. The price sunk below the original trendline for the first time and generated another double-bottom sell at the level of penetration, falling a further two boxes after the double-bottom signal box. It barely snuck above the original trendline before sinking down, albeit at a higher low. What followed was a strong rally which broke through the original trendline but was met with resistance from the most validated trendline.
After very brief congestion, the price rallied through the most validated trendline by 4 boxes. This questioned the resistance power of this trendline. Though it is thought this 4 box rally above was an attempt to reach the previous all-time high. A pole developed and sunk the price through this trendline and then the original trendline again, and created a triple-bottom sell. The next X column failed to come close the original trendline. A catapult then formed with a double-bottom after the triple-bottom. The next X column failed to touch the original trendline before another double-bottom sell-signal was generated. Two downtrend lines have now formed but the area of support is yet to be full broken.
My impression is that we are experiencing a market top and that a potential reversal is imminent.
Things to look out for:
- Will minor downtrend be penetrated?
- Will major downtrend line be penetrated?
- Will the area of support be penetrated?
For a short, anticipate:
- the second downtrend line to be validated
- the area of support to be penetrated
- a double-bottom sell-signal or better
Marico Near Long time SupportMarico Trading Near Long time Support, Wait for Clear breakout Long move after breakout. Bull Don't trade bollow average line. Up Move Possibility high.
Altseason? Yes. Cryptos are in the beginning of a new bull cycleLong term view . ETHEREUM.BITCOIN. LITECOIN. Three major cap crypto assets: accumulation structures complete.
It’s time to zoom out and focus on the big picture . All the major caps have finally confirmed their accumulation structures.
Let’s review the price history of the last two years in the crypto ecosystem.
The first signs of institutional value buying after the spectacular 2017 bull run came in the second half of 2018 (1) .
Demand is consistent on the aggressive rally at point (2) , suggesting strength.
The reaction (3) is an important clue. The downmove is very laborious, and volume is decreasing.
It’s just take profit after the quick run. The Composite Operator is not actively selling. We have analyzed these structures and
discussed the bullish scenario at the Best of Wyckoff Conference in early September.
However, Wyckoffians do not chase the trend and wait for confirmations.
The confirmation of the reaccumulation structures comes finally in January at point (3 ).
The laborious reaction has produced a higher low on low volume, a very bullish sign.
Supply has been absorbed. Price quickly rises on average demand (Ease of Movement to the upside) (4) .
The double bottom formation on Ethereum and Litecoin is complete.
Highly volatile assets like cryptocurrencies generates huge PnF counts in relatively shorts period of time. A two year
reaccumulation in this asset class is a major event that suggest that we are at the beginning of a major bull run
reminiscent of 2016-2017 . We will post accurate PnF counts for all big , mid and small caps in the next reports.
Full analysis available for free Weekly Crypto Report here www.wyckoffanalytics.com
Weekly Crypto Report:
This week: The big picture. Cryptocurrencies are in the beginning of a new bull market. Long term analysis.
Weekly Review: Bitcoin, Ethereum, Litecoin, Ripple, BSV
Question: Altcoin/Bitcoin outperformance (Alt-season) & PnF Charts.
USDCAD EASY CHART PATTERN TOOLUSD/CAD is bullish by the way ;) By using the Point & Figure Chart can easily help you make easier decisions on finding support and resistance. As you can see on the 60m chart for USD/CAD the pattern along with price movement breaking out can't get more prettier to look at. If you are new to Point & Figure Charts I would suggest doing some homework. They can be very helpful.
