Get started

Spinning Top

MULTI-TIMEFRAME ANALYSIS - DXY1W Analysis The pair closed its previous candle below the 1W trend line support and seems to be testing the 1W support zone. A break below the support zone could indicate a further sell towards the next zone. A break above the trend line support turned resistance could see the price rally towards the 1W support turned resistance zone. 1D Analysis The pair recently broke out of a pennant and previously closed within the 1W support zone. A rejection from the 1W support zone could see the pair head to re-test the support turned resistance of the pennant. 8H Analysis The pair recently broke out of descending channel and seems to be getting rejected from the 1W support zone. The previous candle closed as bullish spinning top so it might be an indication that the pair might be heading for a re-test of the channel. 4H Analysis The pair last closed as a spinning top just like on the 8H timeframe, a close of the current candle above the 1W support zone might be the confirmation for a buy till the pair re-tests the 8H channel. Conclusion Monitor the pair on the 4H and 8H timeframe to see exactly what the pair does and how it coincides with the 1D and 1W in order to make an accurate trading decision. If you liked this analysis make sure to give us a thumbs up, leave us a comment and make sure to follow us for future ideas 👍❤
TVC:DXY
by JJForexAcademy
NIO: What could cause a pullback now?Hello traders and investors! Let’s see how NIO is doing today! First, we have a Double Top chart pattern in the hourly chart, and if triggered, it could be the start of a pullback in the daily chart. The $ 39.74 is the resistance NIO must defeat to cancel this pattern, and it is at the same time a Pivot Point, that could resume the bull trend. So, the $ 39.74 is a quite important point to keep in mind. What’s more, we have a strong support zone that could hold the price if NIO drops, at the blue area in the chart. We have the 21 ema, the previous support (yellow line) and the previous top (blue line). I believe this support zone is the most decisive point for NIO, because if it loses it, the idea of a pullback in the daily chart gets stronger. Let’s see the daily chart: The trend is very bullish here, and a pullback to the 21 ema, or even to the $ 29.40 would be a natural and healthy movement, that wouldn’t ruin the bull trend at all . In fact, it would only give us an opportunity to buy, or buy more. If NIO loses yesterday’s low ($35.82), the market could see this as a Spinning Top candlestick pattern, and it’ll be another event that could lead a pullback here. But so far, NIO is in a strong bull trend, and it hasn't lost any of its supports yet. But it didn’t trigger the pivot point at $ 39.74 as well, so let’s keep an eye on these points! And if this idea helped you, please, support it ! And follow me to keep in touch with my daily analyses! Stay safe.
NYSE:NIO
by Nathan_The_Finance_Hydra
11
UBER vs LYFT: A technical comparison.Hello traders and investors! Let’s see what’s going on with UBER and LYFT today. Both stocks are doing some impressive movements, so it is a good time to study them. First, let’s start with UBER. The stock is doing a phenomenal movement today, but if we look at the charts, it just hit a resistance zone today, the black line at $ 41.86, and now it is doing what it seems to be a Spinning Top candlestick pattern . Either way, UBER must keep trading above the yellow line at $ 38.59, because if it loses it, a pullback to the 21 ema is expected . But despite the fact UBER is moving sideways since June, it seems the trend is slightly more bullish than bearish, and UBER is trying to defeat the resistance at the black line. I see the 21 ema as an important support, but the red line at $ 32.89 is another support zone. In the worst-case scenario, UBER would hit the blue line at $ 28.53, but it is way too soon to say this. Today’s gap could be a Breakaway Gap , and if that’s the case, it won’t be filled so soon. But if it is a Common Gap , then it’ll be filed in the next few days, and UBER will be back to the congestion. I would just keep an eye on the black and yellow lines for now. Now, let’s see LYFT. Lyft almost hit the previous resistance at the red line, and now it is dropping sharply. The good news is that it just hit a dual support zone , made by the yellow line (previous resistance) and the purple trendline. The idea of a Breakaway or Common Gap applies here as well , and if LYFT loses its two supports, we’ll see a sharper pullback ahead, and it’ll probably fill the gap. Honestly, it seems the bulls will have a hard time now to defeat the resistances on UBER and LYFT, and a pullback would be great for the stocks, and it could even bring some opportunities to buy. In the hourly chart, there’s a reaction starting on LYFT right now, so the support zone is working so far. UBER is still struggling a lot, but today’s low seems to be a Pivot Point , and if UBER loses it, it'll probably lose the yellow line with it, bringing the pullback we mentioned earlier. The volume increased a lot today, and both stocks are quite speculative, so let’s be cautious here. Either way, these are the most important points to keep in mind for both stocks, and if you like this analysis, please, support it! And follow me to keep in touch with my daily studies. Trade well.
NYSE:UBER
by Nathan_The_Finance_Hydra
1
MULTI-TIMEFRAME ANALYSIS - GBPUSDGBPUSD recently broke out of its 1D descending parallel channel, which seems to be a bullish flag, it then re-tested the channel thrice with the last 1D candle closing as a bullish spinning top. 1D Analysis The Friday candle closed as a bullish spinning top after its retest of the 1D descending parallel channel, this could be a possible indication for a reversal to the sell trend prior to the bullish spinning top. A successful bullish spinning top might create a possibility where the pair heads to re-test the 1D disjoint channel resistance as it did prior to it starting the sell trend. This would however require the 1D candle to close above the support turned resistance of the disjoint channel as it closed on the support when retesting the descending parallel channel. 4H Analysis The pair closed its last 4H candle as a doji after testing the support zone it had trouble breaking below. This might be the indication that the pair is uncertain about breaking below the zone. The pair can be seen within another descending channel on the 4H timeframe. A break below the support zone could lead to a further sell-off on the pair, but for the 1D bullish spinning top to be valid it would need to break the zone of its last lower high. 1H Analysis The pair closed its last 1H candle as an inverted hammer which might be another indication to confirm the 1D bullish spinning top, but the previous candle closed as a bearish spinning top which indicates that the pair might drop. The possibilities are that the bearish spinning top might be to drop the pair towards the support zone where it might be able to gain some momentum before rallying all the way back up, or it might just break below the support zone and continue with its sell-off. Another possibility might be that the inverted hammer invalidates the bearish spinning top and the pair breaks the resistance zone then gaining momentum to carry on with a rally. Conclusion Monitor the pair on the 1H timeframe to see exactly what the pair does and how it coincides with the 4H and 1D in order to make an accurate trading decision. If you liked this analysis make sure to give us a thumbs up, leave us a comment and make sure to follow us for future ideas 👍❤
by JJForexAcademy
2
SPX: Weekly outlook and Multi Time Frame Analysis.Hello traders and investors! Let’s see what’s new on SPX, and since it is Friday, let's do a complete MTFA by studing all our main time frames (H,D and W). First, the hourly chart is inside a Descending Channel , and now it is struggling a lot to defeat its resistance at the upper purple line. Also, it has a clear pivot point at 3,466, and if triggered SPX would finally escape from this bearish trend in the short-term, and it would seek further resistances. Meanwhile, it seems the price formed a bottom area near this blue line at 3,425, which is a support level better seen in the daily chart: Yes, the blue line is quite important , as it worked as support and resistance alike several times since September. Only if SPX loses this support it would engage in a stronger bearish momentum, and in this case, there are no supports left other than 3,323 to hold the price. On the other hand, the weekly chart is quite suggestive as well: We have an idea of a double top here, and a retest of the 21 ema or the purple line would be expected. Last week’s candlestick could be a Spinning Top, but the pattern wasn’t triggered, meaning it didn’t close under 3,440 this week. So far, we have no clear bearish reaction, and SPX is resisting quite well. It did a pullback after a bullish movement, and now the bulls are buying near a support level. Who’s going to win this battle? Only time will tell, but the points mentioned in this analysis will offer you some clues about what’s next. And if you like this analysis, please, support it! And follow me to keep in touch with my daily analyses! Have a great weekend.
SP:SPX
by Nathan_The_Finance_Hydra
10
Bitcoin: weekly timeframeAfter a long time I finally noticed this. Something made me BC before I spotted the pattern and then it just jumped out of the screen... Maybe I have spotted it and forgot about it lol idk. someone let me know in the comments below 😂 ''Took you long enough'' they say! Hehe good one!! Here we see a cypher pattern.. Hanging man / spinning top can be spotted at the reversal zone. Notice last week price action formed another hanging man giving the bearish signal after hitting the fibonacci circle plotted from B-D. B, C & D also make up a fibonacci triangle with the 1.272 price extension in more than 5.00 time extension, suggesting that the buyers are weak and the sellers are gaining the upper hand here. Make sure to check out the related ideas for more information, and see some set-ups appearing on the daily and intra-day charts Good luck to everyone trading Bitcoin!
BShort
by MikulovicFOREX
2
BAND- Just got listed on Coinbase! Another oracle play like LINKThere is no denying that LINK's first mover advantage in Oracle space, amplified by the DeFi gold rush, has resulted in its tremendous surge recently. Another reason is that many of its competitors such as BAND, TELLOR, DOS and NEST can only be traded on Dex (decentralized exchange), centralized exchanges such as Polonix (who still use it?) and foreign exchanges that don't take U.S residents (Binance and many other obscure exchanges) That changed today when Coinbase added BAND! With the increased liquidity and exposure, I ams sure people who are eagerly looking for the next LINK will not miss it.
Long
by Libratus
Spinning Top Reversal ? BTC/USD #btc #crypto #reversalWell , seems we have a classic spinning top candlestick on the Bitcoin 1 day chart . I recently did a chart showing the Gann Fan as well as the CME futures gap on Bitcoin near 118xx which already filled . But now we have what looks like a reversal candlestick . When a candlestick has a very small body evenly in the middle of two long wicks it's called a spinning top - and if it comes after an uptrend then it usually signals a reversal of that trend ( and that we would see some downside .) Same if it came at the end of a downtrend it would signal a reverse to the upside coming. So we look to our supports below us - 112xx ? 10500 ? Also don't forget we have a CME futures gap below us around 96xx/97xx Maybe we are going there before we see and more retrace up to this local top near 12k .
COINBASE:BTCUSD
by shimmeringpath
4
AMD - bearish wedge & spinning top reversal. P/E 167 says it allFor any professional trader the situation is obvious: 1) Rising (bearish) wedge 2) Spinning top candlestick 3) Overbought RSI on both, Daily and Weekly 4) Low volume compared to the previous bullish candle 5) Overinflated P/E At this point, I can actually finish describing my call since it's more than enough to explain why "short" is the only way to go right now. However, I would like to go a little bit further: Bulls have to understand, that the only reason for AMD's "bullishness" is the decline of Intel stocks (Blue line on the chart). There is nothing else behind it and here is why: 1) New Ryzens will be released at the end of the year. Right now, AMD's sales are bad. 2) Ryzen XT processors failed in every single review. Those CPU's simply don't make sense since AMD asking $100 for 100MHz. If we would live in 1995, $1 per 1Mhz could be justified. But not in 2020. 3) Earnings that should be announced today not going to be good under no circumstances. Even in the beginning, right after the release of Zen2, AMD had bad earnings with a negative surprise and obviously, it's not going to be better now, when sales declined and potential customers waiting for the new generation of Ryzens, which makes a lot of sense. If this is not enough for you to stay in cash and away from AMD for now - don't worry, you still will earn experience ;)
NASDAQ:AMDShort
by LanaFL
20
100 point drop ahead?GMAB We are here again, fifth time we hit the upper band of the paralell ascending trend channel, the prior 4 times it made a spinning top and bearish engulfing before heading down. That's pretty much what we can see again, spinning top followed by bearish engulfing. GMAB, recently broke out of the big overhead resistance from the former triple top, which was formed in 2017. It would be likely that GMAB takes a breather after 8 weeks of green and a bit overextended. It could take a small dive and revisit 1485 and enjoy the view from the former top and bounce back from there.
OMXCOP:GMABShort
by UnknownUnicorn2034381