Rising
TD Rising Wedge SetupAs TD continues if it bounces off the green line I will assume a short play if it continues passed the green line I will go long.
I am bear biased on the market. Its more likely that it will continue higher 55% and 45% it will go lower. Stocks usually go up :P
This is a journal entry. Not trading advice.
If I could tell you...I see 2 possible scenarios ahead. Unfortunately, both of them contain a correction before heading higher.
>First scenario:
The zone between R1 and 23.6 Fib level holds, which is also midterm support. In this case, going long could be rewarding.
>Second scenario: 23.6 Fib level will break, then short it before going long. Short price target: 91.76
Microsoft has a lot of bullish tells, but the pattern is bearishBullish headlines, and favorable monetary policy mean that MSFT has a lot going for it right now. That and the company has incredible financials.
The pattern however is something to keep an eye on: the infamous rising wedge pattern.
This pattern may get bearish rapidly. We need to keep an eye on volume. If volume starts to rise higher than the average negatively and daily support breaks with higher than usual volume we may interpret this as bearish, and a potential topping point.
USOIL - A correction could happen soonWe have a rising wedge on oil and all we are waiting for is clear direction. We have divergence on the daily chart and this is something to take into consideration. If we brake bellow the bottom line of the rising wedge, we could have a good entry for short. On the flipside, if it brakes above the rising wedge, we could buy with TP 48.50$.
GLD 1 hour Chart AnalysisSentiment: Neutral to Bearish
As we've observed in the past two weeks Gold has been in a significant uptrend due to its negative correlation with the $DXY (US. Dollar Index) as well as overall volatility in the markets. However as we all know the law of gravity states that all things that go up must eventually come down.
Reasons:
1. Rising Wedge Pattern and Breakdown Confirmation
2. Tweezer Bottom Candlestick Pattern
3. Tweezer Top Candlestick Pattern
Updated Technical Analysis on SPY 7.13.20Sentiment: Short term Bearish
Reasons:
1.Strong Weekly Resistance (Now Support) at 317.59
2. Bearish Island Gap on Daily Chart
3. Bullish Channel Breakdown
4.Selling Volume Increase
5. Rising Wedge Pattern Formed After Market Open Gap up
5. Decrease in Overall Volume During this Pattern formation Confirms its Strength
🔥BTC on Huobi rising!Hello everyone! 👋
It’s been a volatile week in Bitcoin with nothing settled between bears and bulls as the price swept over a 7.27% range before closing the week at a mere .46% below the weekly open.
From TradePhrophet on CoinMarketCal.
Risk Reminder:
1. Trading in digital assets comes with high risks due to huge price fluctuations. Users should be fully aware of the risks associated with digital asset trading and make prudent trading decisions.
2. Huobi Global’s announcements and information do not constitute investment advice, and Huobi will not bear responsibility or provide compensation for direct or indirect losses arising from trading decisions whilst relying on this information.
BTCUSD BUY showing some strengthBTCUSD Now showing some strength to fly to 13000$ Target. 9000$ is working as a magnetic line. We can see all different reversal pattern on earth appearing above and below this magnetic Line. But this time it is accumulating over magnetic line. its a sign of strength. Set stoploss below the line and let it run to 1300$.
Don't Forget to Hit the like button if you find it helpful and informative and follow to catch every wave correctly and remember to share ideas.
gold direction..supply and demmand.. broadening falling wedgethe demand zone of this pair has been tested thus we expect gold to rise towards the supply zone.
a break above the resistance line of the wedge pattern with a retest of it should push price to the supply zone
like comment and follow if my idea was useful.
Rising wedge Australian dollar /United stase dollar future contract is trading in a Big Rising Wedge, I thinkit will be broken and price might fall.
We can clearly see a divergence between ON BALANCE VOLUME and PRICE.
Fundamentally AUD is going upthese days due to Optimism about a Covid-vaccine and a V -shape recovery in international indices. However there are still high risks related to USA-CHINA trade war and potential impacts on Australian economy (AU and China are commercial partners and if China exports will be damaged Australian economy will be influenced)
Open a short trade with target 0.63
USDJPY 25.05.2020Good day everyone!
Rising wedges usually breaks to the downside as we can all see in this USD/JPY pair.
As it stands the US Dollar is getting weaker and I believe that the market could go as low as 107.000 to 106.750 range where we could see a push to the upside again towards the 110 range.
Wish you a great day in trading and be safe!
If this helped you in any way feel free to leave a like.
BTC in rising channel - Start of Bulls?Hey guys.
Check this out. There's a clear and obvious level of current resistance Bitcoin will have to break through before any proper Bull action will begin. That level is @ $10,400.
We are currently ranging in a very strong upward channel right now, that's not to say the price will be consistently rising, but 2 steps forward and one step back still leaves BTC with a positive expected value! At least, until it hits that resistance.
Once we start tickling that resistance level at 10.4k, which would likely be within a couple of weeks, one of two things will happen. An immediate and drastic decline down to to low-mid $9,000's, bouncing off support at that low level and forming a trend channel - or, (my personal favourite!) a break through at $10,400 rising all the way through to $12,000's! This would indicate the start of a Bull run, with ATH's being eaten up quickly after this!
Get in there and Buy some BTC now, Hold it. Hold it some more. Sell when you can retire on it! :)
Good Luck & Happy Trading!
theCrypster
(ALI)BABA LONG setup - channel trading!Hello traders,
Yesterday´s trade in the CURRENCYCOM:BABA market is the perfect educational content for today´s video!
Channel trading, trend-lines, adjusting zones from the volume profile, and more.
Everything included in the video with real trade description (including SL and PT)!
Parameters of the trade (LONG ALIBABA):
Entry: 196.15
SL: 184.56
PT: 219.33
Good trading!
Jakub
FINEIGHT