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NDX - Top? A/B/C Next? Please correct me if I'm wrong.No matter how I look at Nasdaq, it looks to be at the top of an up wave and due for a correction. EWave/Trend says we should be about done with wave 5 and due for a correction. 2008-2020 trend up is already broken (to the upside). Spike in RSI and MACD cross also look bearish to me. Add in macro economic conditions and well, I want to see the bull, but I keep getting mauled by the bear. Please help me ObiWan, I cannot understand the force that is driving Nasdaq! Inject me with hopium! *NOT FINANCIAL ADVICE - NOT A FINANCIAL ADVISOR*
TVC:NDQ
by N0tSwift
2
INOV, Broadening Top (bearish)I found this pattern at tickeron website with the following data: STATUS = Confirmed CURRENT CONFIDENCE = 71% TARGET (EXIT) PRICE = 18.49 USD BREAKOUT (ENTRY) PRICE = 19.51 USD DISTANCE TO TARGET PRICE = 4.45% EMERGED ON = Nov 09, 07:00 AM (EST) CONFIRMED ON = Nov 10, 10:11 AM (EST) WITH CONFIDENCE LEVEL = 78% The Broadening Top pattern forms when a security price makes higher highs (1, 3, 5) and lower lows (2, 4) following two widening trend lines. The price is expected to move up or down past the pattern depending on which line is broken first. What distinguishes a Broadening Top from a Broadening Bottom is that the price of the security is rising prior to entering the pattern formation. This type of formation happens when volatility is high or increasing, and when a security’s price is moving with high volatility but little or no direction. It indicates growing investor nervousness and indecisiveness. Trade idea If the price breaks out from the bottom pattern boundary, day traders and swing traders should trade with a DOWN trend. Consider selling the security short or buying a put option at the downward breakout price level. To identify an exit, compute the target price by subtracting the pattern height from breakout point. The pattern height is difference between the pattern’s highest high and its lowest low. To limit potential loss when price suddenly goes in the wrong direction, consider placing a stop order to buy back a short position or sell a put option at or above the breakout price.
IShort
by AlTorress
BTC Long-Term CorrectionHi everyone. I've been considering this idea for some time now on BTC and thinking that this probably will be a much more major correction than many expect. Currently, there still isn't any real reason for BTC to be heading on another bull run. There is widespread economic instability and mounting government debt world-wide, increasing unemployment rates and many of these jobs simply will not return. There simply is no new money to fuel this kind of a run up for BTC. Covid-19 is not the underlying cause of the poor shape of the global economy, but it was more than likely the catalyst that finally set it into the turbulent motion we will experience for some years to come. I think that in a "best case scenario" for BTC, it could be making a very large contracting triangle. Depending on how much the global economy suffers over the coming years, the price of BTC could behave FAR worse than this. BTC could find itself in corrective mode for nearly the entirety of this decade before breaking out of this trend for more upside - if this idea plays out. Markets like the S&P are ripe for a crash any day now, and with Covid-19 rearing its head for another round and the US presidential election about to commence - I believe we are about to see a MASSIVE crash market-wide. The waves I've superimposed are just for ideas - I doubt that it will behave like this overall, but I expect the timing to be potentially accurate. How it is drawn here is my best guess - however, Wave-E could take much more time than I have here, but shouldn't last longer than the green box. RSI (bottom indicator) has been screaming top for a while now, and several other indicators tend to support this. Let me know your thoughts on this, I just don't see a bull run any time soon. Good luck... not trading advice, just my thoughts.
OANDA:BTCUSDShort
by Korastiz
6
$SAP #SAP ... all hands on deck! Support area is 89 -79 USDHi and welcome to my analysis on SAP (NYSE, USD). Yes, we had some news from the software provider that attracted sellers. Trading in Germany on XETRA is closed and no prisoners were taken... In my first chart you can see a broadening top in the stock. SAP was not able to activate this formation to the upside in September...the upper trendline produced heavy resistance and forced a minor reversal... In combination with a bearish engulfing pattern as per end of September... ...and last week's break below the KAMA21 the stage was set for a downturn... The lower megaphone supportline is at 89 USD...this is a target if the bears remain in control. POC (2016 to date) is showing the point of control around 79 USD. Would be nice if you support me with a thumbs up and follow me... Best, Tom Jansen Chief Investor-Guard © Copyright TA Investor-Guard 2020. Charts powered by TradingView. All rights reserved. The information provided here is of a general nature and not legal, tax or investment advice.
NYSE:SAP
by investor-guard
EIDX, Broadening Top (bullish) I found this pattern at tickeron website with the following data: STATUS = Confirmed CURRENT CONFIDENCE = 77% TARGET (EXIT) PRICE = 77.06 USD BREAKOUT (ENTRY) PRICE = 75.17 USD DISTANCE TO TARGET PRICE = 2.53% EMERGED ON = Oct 07, 12:00 PM (EDT) CONFIRMED ON = Oct 07, 12:12 PM (EDT) WITH CONFIDENCE LEVEL = 87% Once the price breaks out from the top pattern boundary, day traders and swing traders should trade with an UP trend. Consider buying a security or a call option at the upward breakout price/entry point. To identify an exit, compute the target price by adding the pattern height (H on the chart) to the breakout price. The pattern height is the difference between the pattern’s highest high and its lowest low. To limit potential loss when the price suddenly goes in the wrong direction, consider placing a stop order to sell at or below the breakout price. The Broadening Top pattern forms when the price of a security progressively makes higher highs (1, 3) and lower lows (2, 4) following two widening trend lines. The price is expected to move up or down past the pattern depending on which line is broken first. What distinguishes a Broadening Top from a Broadening Bottom is that the price of the security is rising prior to entering the pattern formation. This type of formation happens when volatility is high or increasing, and when a security’s price is moving with high volatility but with little or no direction. It can potentially indicate growing investor nervousness and indecisiveness.
ELong
by AlTorress
Twitter Time to Short and Hold Crash Ahead ?Company Details Full Name Twitter, Inc. Country United States Employees 5,200 CEO Jack Dorsey Stock Information Ticker Symbol TWTR Stock Exchange New York Stock Exchange Sector Communication Services Industry Internet Content & Information Unique Identifier NYSE: TWTR IPO Date November 7, 2013 Description Twitter operates as a platform for public self-expression and conversation in real time United States and internationally. The company offers various products and services, including Twitter, a platform that allows users to consume, create, distribute, and discover content; and Periscope, a mobile application that enables user to broadcast and watch video live with others. It also provides promoted products and services, such as promoted tweets, promoted accounts, and promoted trends, which enable its advertisers to promote their brands, products, and services. In addition, the company offers a set of tools and public application programming interfaces for developers to contribute their content to its platform, syndicate and distribute Twitter content across their properties, and enhance their Websites and applications with Twitter content. Further, it provides subscription access to its public data feed for data partners. Twitter, Inc. was founded in 2006 and is headquartered in San Francisco, California. The IPO opening print also marks the 50% retracement of the downtrend into 2016, highlighting the need for skeptical buyers to come off the sidelines here and lift the stock into the $50s. The uptick has just eased into a trading range that acknowledges resistance, so a positive catalyst may be needed to trigger a breakout. That could be a tall order in the fourth quarter, given the extraordinary challenges. As a result, there isn't much to do except to wait and watch price action in coming weeks. The Bottom Line Twitter stock has returned to seven-year resistance and still give no clear break out above the IPO 50% Retrace Level, Ahead elections Covid-19 $ Crash may lead s&p500 and major stock market to down side, we can expect a twitter crash or Correction to down side soon! Best Regards: RideTheMacro
NYSE:TWTRShort
by Ridethemacro
1
Lower peaks at AUDUSDOn September 1, AUDUSD reached its highest value in 2 years. But then he needed a break. In the middle of the month we saw a lower peak and a lower bottom after that. As you know, this is forming a trend and we expect to see a lower peak again. The moment we expect is now because we already have repulsion from the resistance levels and fixation of the peak. If the trend continues, we should see a break of the previous bottom and reaching the support levels. Today we expect additional moves when publishing NFP! If you like the analyzes we do - like, comment and follow us!
Short
by ForexTrendline