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Takeout

Updated Supply takeout pattern v2 In my initial write up i had mistakenly used the wrong settings to find volume , this has caused the resistance zone to be misplaced in the original. It has since been updated in this chart and BTC should continue to avoid this remaining in this supply zone for some time. While im still uncertain of how far this BTC correction will play out for i do believe we are setting up my 'Supply take out' pattern. I will continue to look over this current formation and compare similarities between the previous - making sure to update any write ups when i have further news. BTC has recently faced a bearish cross on the daily chart and has also lost the 200ma so while BTC avoids death for now , it wont take much to drag it down. The bullish side has yet to lose and the amount of HODL BTC continues to rise in amount as this dip continues. I will be treating this dip as a bear trap as i strongly believe this is just the leadup to a huge run up . If we successfully follow my pattern i have an target of $80k for Q1 of 2022 ! I will continue to update you with the progression of this chart ... -Oz
by bourantrading
Supply takeout patternTLDR : Expect ranging , dip and then blast to orbit For valid supply takeout pattern structure should have these components: - clean stage 1 ahead of it - does it have stage 2 (both of those stages are a must) - does it have stage 3 (optional, but its a plus) The most important stage 4 is a momentum takeout, or if not that, at least an obvious micro shelf buildup with offers soaked at supply. The setups will vary on how they look; therefore, the grade of setup and potential of reward on it will also be determined from 3 "external" factors: -consistency of symmetry -consistency of consolidation -the heaviness of one-sided order flow positioning (for example, very strong short / offers to position on the supply level of price). The last leg move (the one where price breaks supply) should be very strong and possibly on solid volume, or at least it should form a micro shelf at the supply area, showing that buyers are constantly soaking up offers at supply. The tape should confirm strong buying at the ask, showing aggression of the market into offers. If the last leg is not strong, a trader should avoid taking a trade. While this is usually a micro-pattern it can also be added to higher TF as long as it fits the logic. Above and within the supply zone (42-40k) we should expect to see a shelf forming (ranging). The ranging would confirm acceptance and as long as we see no candles closing below the supply area we should expect a bullish market attitude. The areas I'm looking and focused on are 45k and 44.8k . If the bulls reclaim 45k for a sustained amount of time they capture the 200dma and the bull run could be considered on. If no attempt is capable of holding 45k then id consider this sudden rise in volume and price a dead cat bounce or something similar. Failure to remain in this area (43-45k) could send us down to 40k resulting in a stagnant drop into the low 30s and subsequently 20s.
by ollie_oz
Slow, Steady Growth in 2018 w/ Tech + China (PT: $183)It looks and feels like MCD will be hovering/consolidating around the $160 mark until more news comes in to spurt growth back into the $170 range. No major recovery from February has really taken place, even with the last quarter beats. Death Cross? As a company embracing more technology, initiatives have already been taken in the first half to help grow the second half. Operations initiatives will be updated as more upgrades happen and the China refranchising will also be concluded. I think it will be slow, but steady going the rest of the year for MCD, but it's a long term stock for a lot of people, so accumulate around $156 and below when possible. Previous ranges show a characteristic "top" to where the stock will head and wait for the next big thing. It's not much higher at $183 than the all time high this year of $178.70. Hence, why the growth is slow, but steady back up to where it was. MCD is a great value, with a great brand worldwide that won't go away anytime soon.
NYSE:MCDLong
by N3utra