Evening Traders, Today’s Analysis – TRXBTC – breaking out of an inverted head and shoulders where price consolidation above key levels will change the trend. Points to consider - Neckline breached (Pattern Validation) - Daily support breached (Golden Cross confluence) - Structural resistance confluence (Technical target) - Oscillators cooling off - Volume...
Todays chart – IOTXBTC – testing resistance of the descending triangle formation as it nears the apex. Points to consider: - support and resistances converging (apex) - Trend bearish (consecutive lower highs) - Bullish Price action (testing resistance) - Support confluence - RSI above 50 - Low volume IOTX has formed a mature descending triangle (typically...
Today’s Chart - TLRAY INC – Currently consolidating in a bull-flag formation above structural support. Points to consider: - Structural support retest (S/R Flip confirmation) - Bull-flag formation - Below average volume - RSI trading above 50 TLRAYs S/R flip has been confirmed with a retest of structural support, the immediate target now structural...
Evening Traders, Today’s Analysis – XLMBTC – must hold range median upon a retest to test structural resistance (range high) Points to consider, - Range median (local support) - S/R flip retest must hold - Structural resistance (Immediate target) - Volume below average XLMBTC’s range median is in confluence with local support, a trade location where an S/R...
Evening Traders, Today’s analysis – CADCHF –broke local resistance from oversold conditions; next technical target is at structural resistance. Points to consider, - S/R Flip retest - Structural resistance (trade location) - RSI above 50 - Stochastics in an rising wedge CADCHF needs to put in an S/R flip retest to validate support, this retest will allow...
Evening Traders, Today’s Analysis – AUDUSD – trading in a rising wedge pattern at key structural resistance, a break bearish is plausible. Points to consider, - Consecutive higher lows - Strong structural resistance - Technical target (local support) - RSI and Stochastics lower high projection - Volume influx needed AUDUSD has been putting in consecutive higher...
Today’s Technical Analysis – USDCHF- trading in equilibrium where a break is imminent Points to consider, - Structural resistance (bearish retest) - Declining volume - Apex - RSI at 50 A break in USDCHF will be imminent as price continues to reach its apex. The support and resistance lines will converge leading into a break in structure. The structural...
Today’s Technical Analysis – ETHBTC – testing a weekly level with an important candle close Points to consider, - Weekly structure - S/R flip - Volume below average - Structural resistance ETHBTC is testing an important weekly zone that must remain as support to further solidify the S/R Flip. A bullish candle close (hammer candle) on a weekly structure...