CELG Shifts SidewaysCELG hit a strong resistance level after a 3-week momentum trend. This resistance is strong. The consolidation has Professional Trader footprints.
Strongresistance
AMD Breaks to UpsideAMD has confirmed its breakout to test the previous yearly highs of 2000 and 2006. These highs are very strong resistance.
EUR/GBP Technical analysisThe EUR/GBP pair is currently in a downtrend in the 4-H chart making lower lows and lower highs.
It is currently consolidating below the critical resistance 0.87940.
Hence we expect the pair to be bearish for the short term.
Lots of pressure? I think not!
* Short term (Few hours-26/08, including Sunday weekly closing candle and Monday reaction):
- We are right below the 4h and 1h clouds testing, also right below the sma200 - all this at the 10100-1215 zone, rejection will cause pull down below the symmetrical triangle which will mean that we are going to test the 9080-9480 again..
- Succeeding in overcome the 1h and 4h clouds will bring us to test the daily cloud and the ma200 again at the levels 10550-10750.. failing to preserve these will cause same effect of going bellow the symmetrical triangle, succeeding to break these will bring us to test the 10950 area (A very strong resistance/support shifting zone).
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* Mid term (Symetrical triangle up to 5 weeks (including the current one) breakout , ascending triangle up to 12 weeks (including the current one) breakout ):
- Symmetrical triangle - this is the consolidation zone where we create lower highs and higher lows until we break it out and create new patterns, this is where all the chup chup is going on and nothing is certain. breaking above this triangle will lead us to test 12300 again, if we break that zone with bullish trend (higher lows, higher highs) then we are more likely to break the 14k as well and continue towards the 20k ath... breaking below the symmetrical means we are in the ascending triangle.
- Ascending triangle is a bearish pattern, if we break below the symmetrical then the ascending one is next in the line, it has longer period of time, I believe that if we test this zone again (9080-9400) then this is a free fall towards the 5-8.2k (or more like 7500-8.2k), I really think 1 touch is enough to break it but we might need another 1, failing to do so after these 2 times will weaken the ascending triangle.
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Price now is 10140.
New signal:
I will go short here 2nd position: #short#currentprice10140
SL: 10280 (a bit above the sma200, since I see that we really struggle to break it and the clouds of 4h,1h)
TPs: 9640, 9137,8600,8300 and 10% more for if we run lower prices..
Active signal:
I still hold the 1st position: #short#currentprice10730
Still SL at: 10385 (I you want you can put it together with the 2nd short)
Still same existing TPs: 9640, 9137,8600,8300 and 10% more for if we run lower prices..
TPs we already hit: 10160, 10060, 9895 (40% of profits so far, I recommend to take another 10% now just in case...)
US Crude Oil wave analysisCrude oil ended its near-term bull cycle at the highs of $60.
It completed it 5-waves and also its wave a and b in the corrective structure.
Now the wave c which was on the cards has come to play with the formation of evening star pattern at the critical resistance.
Hence, we expect the oil counter to move down to the mark of 57.08.
EUR/CHF Technical analysisThe counter is in a strong bearish trend making lower highs and lower lows consistently.
The recent surge in the counter can be attributed to a bearish flag pattern.
Now, the counter is in a confluence of resistance points - flag and trendline resistance.
Also, the RSI indicator lurking below the overbought zone.
Hence, we expect the pair to move down from here.
NKE Has Strong ReboundNike rebounded from a steep sell-off, to gap and run up. The support for the rebound is prior months’ highs. Stock indicators turned positive. However, resistance is stronger against the rebound candlestick pattern.
SPY: Probability of 0.618 Retracement is HighThis market is full of uncertainty. It runs around looking for stimulus after the "trade talk progress" no longer makes it happy inside. It needs answers to the bad data, the contradictions found between fact and fiction; facts of economic slowdown coupled with the fictional, false narrative that the economy is strong. Market needs a strong daddy.
I expect more volatility for the coming weeks, and the FED will come out and tell the market what a good boy it is what with a strong economy / labor market and all, and thusly give it some candy and a five dollar bill. The market will cheer up, wipe the tears away and go play the games that only it understands - but it may occasionally fall and scrape its knee from time to time.
In all seriousness, just look at the resistance at the 280 level. Since last January we have had only two breakouts yet seven resistance pullbacks. We are far extended above the 100 day VWMA, the 100 day CCI rejected the 100 mark, and the fisher gives us a bearish divergence. Only good thing it has going for it is FED day and the "trade deal" which can and will be postponed indefinitely like a carrot on a stick.
Lets see where this goes, I suspect we hold the 0.618 level at 270.
GBPCHFGBPCHF is back at price levels which previously provided strong resistance. This area is also near a round price level 1.3100.
This combined with the upcoming Non Farm Payroll for Switzerland coming out within a week, promises plenty of price action movement. RSI is also indicating pair is close to being oversold (was already but crept back under).
Strong resistance + 1.3100 level + brexit + NFP of strong economy = Bearish bias against GBP
But lets watch and see what the market does!
USDJPY waiting for a Bullish BreakoutUSDJPY has a strong resistance test for a while making a Bullish Continuation Pennant. The overall structure of the market is going up. Waiting for the resistance to break for a nice move upwards.
GBPUSD consolidating, waiting for support/resistance breakoutThe market is under consolidation for couple of hours, it has strong support and resistance so look for opportunity for buy or sell after support/resistance breakdown and retest.
DNA ShortDNA has shown immense growth since 24th Dec.
0.050 --> 0.098
Showing strong resistance performance at 0.095, and a solid resistance at 0.084 on 28th Dec.
RSI still above 35
Volume is extremely attractive 40m+
There is a lot of indication that the price is way overvalued, great time to short.
Entry: 0.085
TP: 0.075
Stop Loss: 0.090
BTC on small timeframe can go down#BTC 30min
On a small scale, you can see the possibility of a rollback of the last growth: if local support does not keep market pressure, then we will decrease to levels of 6000 and possibly 5880. If the asset manages to enter the resistance range, which at the moment looks like a pretty strong barrier, its upper edge (6640) will make it possible to grow to higher levels.
Bitcoin at a strong resistanceIt's dangerous to be in alts, until Bitcoin has decided on the direction of the move, a recommendation to close all active short-term and medium-term deals. You can only keep long-term assets that have been severely declined.
CADCHF is ready to come downCADCHF has retested the strong resistance line and now on the way down to its support line
The Game of Charts- Strong Resistance at $6800BITFINEX:BTCUSD
"The chart speaks louder than words"
Daily bitcoin technical analysis with fewer words and more information so that you can have maximum information just with a glance without wasting any time.
Any thoughts on technical analysis of BTC are always welcome in Comment Section. If you find this article useful then do consider a like .
Thank you .
Legal Disclaimer:
This is purely a technical analysis and it is to be used for educational, entertainment purposes only. This is not a financial advise to buy or sell Bitcoin and I am not a financial advisor. Do your own research before investing.
BTCUSD.. Very strong support line but..There is a big change of entering the 5200/4000 but just keep an eye on the chart as always...
And can I ask a question?
"How sold all his coins and tokens 8 hours ago?"
BTC Important Levels to WatchBitcoin broke out of a strong downtrend line and is attempting to start a breakout. However, it still has to break out of the ascending triangle and the 11.7k resistance level within the next day or so. If it does, Bitcoin could see a pump to the 13k region or more. If it does not, Bitcoin will likely test the 10.8k region and likely the 9k region.
Now, let's take a look at the big picture to see how the short term price action will affect the big picture.
(Weekly) The RSI is approaching a key support level around 53 that has always held since the Bitcoin hype started a year and a half ago. The MACD is close to crossover, but in the past, the MACD always leveled off and the bearish crossover has never happened. Based off a key trend line, BTC has strong support in the 9k-ish region.
The weekly chart is indicating that Bitcoin has found strong support, and the correction phase is almost over. However, it'll extremely bad if Bitcoin tumbles below 8.5k and breaks 50 RSI, breaks the trend line, experiences a crossover. If that happens, key support levels are broken, and it could mean that this correction will be different from previous corrections.
On the daily chart, it seems that Bitcoin is not quite done correcting. In the past, Bitcoin has bounced off the 30 RSI level during corrections, and it could easily test that level again. In addition, a falling wedge is forming, and Bitcoin may see another touch on the lower support line. On the bright side, the MACD is close to a crossover.
The 4 hour chart isn't looking so great either. Bitcoin has some strong resistance in the 11.7k to 15k area. A price spike upwards could easily be a bull trap. The RSI is wedging; a break below the support line will send the price tumbling towards 10 or 9k, and break above will likely sustain a short-term up trend. However, the MACD is bullish as a key resistance level is broken and has found a strong support line.
Significant Bearish Moving Average Cross For DeltaOn April 11, 2017, the Delta Airlines ( DAL ) 20 day moving average (DMA) crossed below its 150 DMA. Historically this has occurred 9 times and the stock drops a minimum of 4.371%. It has a median loss of 11.715% and maximum loss of 42.018% over the next 15 trading days.
When we take a look at other technical indicators, the relative strength index (RSI) is at 39.2516. RSI tends to determine trends, overbought and oversold levels as well as likelihood of price swings. I personally use anything above 75 as overbought and anything under 25 as oversold. The current reading declares the stock is neutral but has been trending down.
The true strength index (TSI) is currently -22.0315. The TSI determines overbought/oversold levels and/or current trend. I solely use this as an indicator of trend as overbought and oversold levels vary. The TSI is double smoothed in its calculation and is a great indicator of upward and downward movement. The current reading declares the stock is moving down.
The negative vortex indicator (VI) is at 1.0215. When the positive level is higher than 1 and higher than the negative indicator, the overall price action is moving upward. When the negative level is higher than 1 and higher than the positive indicator, the overall price action is moving downward. The current reading declares the stock is moving down, but at a decision point. This indicator could produce a crossover and the stock could move up.
The stochastic oscillator K value is 23.7070 and D value is 21.8876. This is a cyclical oscillator that is highly accurate and can be used to identify overbought/oversold levels as well as pending reversals and short-term activity. I personally use anything above 80 as overbought and below 20 as oversold. When the K value is higher than the D value, the stock is trending up. When the D value is higher that the K value the stock is trending down. The current reading declares the stock could begin a reversal, however, it could still drop to an oversold level over the next 5-10 trading days.
Considering the moving average crossover, RSI, TSI, VI and stochastic levels, the overall direction appears to continue heading down. A strong resistance down trend has been taking shape since March 7. Based on historical movement compared to current levels and the current position, the stock could drop another 4.00% over the next 15 trading days.
