[MTHBTC] MTH fall down from ascending wedge pattern?MTHBTC is performing a rising wedge pattern.
Indicators are showing an overbought market but it only will move down to the underside of the triangle pattern and will remain for the next candles in it.
Expect it to break down from it as the bearish nature of this pattern.
clear short in 4h chart for the next month from my side.
Triangel
Decending Triangel Hope for break over 8400I'm still bullish and think we heading upwards, we did hit 0.5 fib, Do we hit over MA 30 and outside of triangle we can see a bullrun, draw this as Elliot wave number 3 and this one can go high. BULLISH!
Triangel on IOTA possilbe next breakout Beautiul triangel in the chart. Short time Target is 1.10 $.
Bearish USDJPYDouble top at a weekly resistance level on the 4h chart. The daily is a fake breakout to the top therefore bearish movement expected. Entry would be 116.434 and the stop close above the 0.00% Fib level. The acending Triangle could be a possible retracement entry if it breaks out properly.
SHOP retest gapSHOP is about to complete this retest gap in the top of a long term triangel pattern, if we see a strong break out and retest then buy the retest
Goldman Sachs Short - Overbought Momentum LossGoldman Sachs is a short to me here on the daily for a quick short. I'll disclose now that on the Weekly chart I am long based on the giant indented head and shoulders and the smaller head and shoulders that makes up the right shoulder. That is in my IRA however, as I do not purchase stock (writing covered calls) in my trading account simply because it ties up too much capital (usually).
The weekly outlook aside, I like what we see for a potential brief pullback here. Working from the top down, RSI is approaching it's previous two time resistance around 74, indicating to me that the stock is overbought. Both of these prior occurrences happened in the current trend.
Secondly, we have a shooting star after a two week up move, now followed by what looks like it will be a Harami. GS does not have a historical pattern of breaking out above the BB, even after a slight contraction in volatility. When it has, it's usually a quick retracement.
The one thing I do not like here is that OBV usually leads price and it has now crossed above it's 21WMA. Last time this happened it led a leg up. This time, however, over 50% of the move has already happened and it's just crossing positive, so perhaps it's not much to worry about.
IV%R is low in GS, at only 12% so that leaves the possibility of selling anything for a credit out of the books. That means I'm looking for a Long Put Spread basically. A diagonal wouldn't do because diagonals usually require some time passage, and this should be quick. Although I may keep an eye on the diagonal just to see how it would pan out. This low volatility market is no fun, and leaves my option strategies severely limited. Hopefully we will find some nice charts with higher volatility sometime tomorrow that we can enter some strangles and naked calls/puts with.
