Short-trend
UBER Oversold Bounce| Structural Resistance| .50 Fibonacci Evening Traders,
Today’s Technical Analysis will focus on UBER, with an insane oversold bounce, over 100% gain, currently testing a key resistance that will dictate the overall macro trend.
Points to consider,
- Oversold bounce still in fruition
- Structural resistance in confluence
- Stochastics projected up
- RSI hitting resistance
- Noticeable bull volume nodes
- Daily lower high likely
UBER is currently in an oversold bounce, testing a key structural resistance that is in confluence with the .50 Fibonacci level.
The stochastics is projected up, still has more stored momentum to the upside whilst the RSI is testing its resistance. It is likely to break in conjunction with the upside momentum of the stochastics.
There are noticeable bull volume nodes, driving the oversold bounce, this must sustain if structural resistance is to be broken.
Overall, in my opinion, UBER is testing a critical level on the macro timeframe. A rejection will be in favour of the bears, putting in lower high. A break and consolidation however, will increase the likelihood of testing upper level, thus changing the macro structure.
What are your thoughts?
Please leave a like and comment,
And remember,
“In order to succeed, you first have to be willing to experience failure.”
― Yvan Byeajee
EURNZD, A closer lookHi All...
as you see in the chart above the price is unable to push up the resistance which may indicate that this is a retest of the previously broken trend line, for me to enter I need to see a pin bar on the 4H time frame and an open of the next bearish candle
Don't forget to leave a LIKE
Check my idea's here: www.tradingview.com
follow me to get the latest analysis daily
thank you
Good luck
What I See in the EURJPY1- the overall trend is bearish (lower highs and lower lows)
2- A retest made at the 122.800 level and not able to break higher, this level is a very strong (support/resistance) since 2017
3- An exhausted small bullish trend/channel
4- A Divergence
also going down on the weekly
and the monthly
all this tells me that the price will continue downside
Don't forget to leave a LIKE
Check my idea's here: www.tradingview.com
follow me to get the latest analysis daily
thank you
Good luck
Descending broadening wedge|Probable Trade Set Up|KEY ResistanceHello Traders,
Quick update today on BTCUSD, where we have a potential long opportunity
Points to consider,
- Trend consolidating
- Local resistance to break
- EMA’s neutral
- Stochastics neutral
- Volume declining
BTC has been consolidating on this lower time frame in a descending broadening wedge formation, which can be a bullish continuation.
Local resistance is a key level to break for a confirmed continuation.
EMA’s are currently trading neutral, holding price as support currently, but does look weak. The stochastics is currently also neutral; a break in either direction is probable.
Volume is visibly declining, indicating an impulsive move is imminent
Overall, in my opinion, BTC will eventually break as it comes close to its apex. A break bullish is more likely due descending wedge, confirmed only when resistance is broken.
What are your thoughts?
Please leave a like and comment,
And remember,
“You have power over how you'll respond to uncertainty.” ― Yvan Byeajee
TESLA BlueSky Breakout| Structural Support| Volume ClimaxHello Traders!
Today’s chart update will be on TSLA which has gone parabolic after a key technical level broke, a correction is imminent, but when?
Points to consider,
- Trend establishing new higher high
- Structural resistance broken
- Stochastics in upper regions
- RSI overbought
- EMA’s yet to meet price
- Volume influx/climax
TESLA’s higher high will come to fruition when a correction or consolidation from current level deems true. Structural resistance broken, now potential support, S/R flip, when and if Tesla comes back to re-test.
Stochastics is currently in the upper regions, can stay trading there for an extended period of time, however lots of stored momentum to the downside. RSI is trading at overbought territory; a correction is imminent from such extreme levels.
EMA’s yet to meet price, has been holding as support even before breakout, needs to allow Tesla to correct at some point. Volume has climaxed with evident bars signalling that a potential local top may be in at current time.
Overall, in my opinion, Tesla is imminent of a correction to cool of technical indicators such as the RSI. A test of structural support, previous staunched resistance, is probable to confirm the S/R flip.
What are your thoughts?
Please leave a like and comment,
And remember,
“Genuine acceptance that there will be losses on your way to market success will greatly decrease the hurt when they eventually come.”
― yvan Byeajee,