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QNT could also be breaking upward from a monthly bearflagQuant has been hitting multiple double bottom breakout targets in a row on the daily time frame (not shown here) which has taken price action up and above a channel (in red) that I have also been watching on the daily chart. It was after I noticed Gala appeared to be breaking up from a bear flag on its weekly chart that made me decide to flip my qnt chart to the weekly time frame as well, and sure enough, the channel was attached to a long bear pole on the weekly chart making it also a bear flag. If it does break up from the flag the breakout target takes price back up to this blue inv h&s neckline and would then complete the right shoulder…which is the price movement I’ve been anticipating ever since we reversed trend back to the upside, so this measured move target from the flag leading directly back to the neckline makes a lot of sense and adds good bullish confluence….you can see I also have another little dotted green line going slightly higher than the one I put the price tag on. The slightly higher one was when I included the wick in the length of the flagpole and the one closer to the neckline is without including the wick…hard to say which one is more valid as of now. *not financial advice*
COINBASE:QNTUSD
by DrDovetail
1
Will gala break up from its current bear flag?We can see here on the weekly char that Gala is in a bear flag with a very long pole. We can also see that the flag is the shape of a descending channel, a pattern that tends to break upward. When we see a descending channel as a bearish flag it is usually an indication that bears are starting to lose steam.,,,how much steam they are losing will determine whether or not the descending channel wins the dominance battle and it breaks upward or the bearish flag maintains dominance and the pattern breaks downward. If this flag were to break upward instead of downward, the question then becomes will it break upward and then head the entire measured move of the flag but in the bullish direction? Or will it simply just head to the smaller target of the descending channel itself. It’s hard to say but just in case I have put both potential bullish targets on the chart. One other thing it could do is reach the bullish breakout target of the channel and then pull a 180 and still break down below the flag and head to the bearish breakdown measured move target of the flag even after reaching the channels bullish breakout target. Seeing as how the rest of the crypto market recently has begun to see bearish momentum dwindling, I think the bullish outcome has slightly more probability at the moment. Also the measured move for the bear flag breakdown would be negative 20 cents….typical negative targets are a clue that the bullish direction is more likely….always possible for a breakdown to happen at the end of bearish momentum that doesnt hit 100% of its target though. If we take a look at the current volume candle, it is the highest weekly volume candle on this charts history and it happened during a bullish impulse…which is yet more bullish confluence here to suggest a break up from this bear flag is very feasible. *not financial advice*
G
by DrDovetail
4
TMUS Earnings WeekOn Wednesday, TMUS reports its quarterly earnings. The last earnings report saw a gap on the surprise earnings, but overall the price did not do much. TMUS's price has remained rangebound between the high and low of the previous earnings week. Looking at the earnings estimate, analysts are predicting an increase in earnings from the prior quarter and the same quarter last year, which could provide the catalyst needed to break out of this range. TMUS managed to post steady gains over 2022 when the SP500 and the Communications Sector (XLC), the sector in which TMUS is a member, declined. This upward progress shows underlying fundamental strength. The price action leveling off this last quarter could mean a few different things. The response to this earnings report could show it was just price action taking a breath. Stepping back from the TMUS chart, the SPY marked a significant milestone last week by closing above its resistance line that formed during 2022. We also see that XLC is one of the top-performing sectors YTD. A surprise on earnings coupled with a break of the previous earnings week high could mark the beginning of a new strong uptrend for TMUS.
NASDAQ:TMUSLong
by Ronald_Ryninger
$SPY $SPX $ES1! Analysis, Key levels, and Targets I'm feeling dramatic tonight... Double top and we are at weekly RSI resistance... target 337... that would take it just about to the top, right before the covid crash… Little known fact - in the dot com bubble recession, 55 RSI was resistance for the entire recession on the weekly chart…. We are currently at 55 and that has been the resistance since last January ('22) And in both recessions, the dot com and the 08, the bottom was in under 30 RSI on the monthly…. (Currently at 52) (Actually - correction... the recession/bear market was over when we crossed UP RSI 30 on the monthly timeframe) Completely not a practical post going into tomorrow, but just some large scale observations…. I’ll zoom in a little closer for the next one, I promise…. 1 or 4 hour chart maybe… lol… Have fun trading tomorrow, y’all….
AMEX:SPYShort
by SPYder_QQQueen_Trading
13
#TSLA Big Heads have big Shoulders. The weekly chart on #tsla has formed a massive head and shoulders. you see the high volume enter the left shoulder, then the depreciation in volume another smaller volume but higher price making the head, and the lowest volume right shouler, followed but some nice volume. *can bulls hold? it is a musk company, tis the season and all. But this big head here does not look Bueno! good luck traders, im looking for low volume in premarket sustained after open, and possible long put. no entrys or exits because ill be observing as data comes in.
NASDAQ:TSLA
by born4dizlif3
1
Gold has broken up from the descending channel.Hard to say whether or not it will reach its full target, but seeing as how it is already pretty close to that target, the risk to reward ratio of trying to jump into the trade now in hopes that it will is not worth the risk imo. As a long term hold I still see gold as a wise investment though so it wouldn’t be the worst thing to buy some here and maybe wait for a correction after this breakout move to accumulate more. *not financial advice*
OANDA:XAUUSD
by DrDovetail
Weekly chart on Public Storage reaches key fulcrum pointAh yes, the classic bullish falling wedge overlapping a bearish head and shoulder pattern; tale as old as time. We can see price action here on the weekly chart is getting very near the apex of the falling wedge….however it has also closed several candles below the neckline of the h&s pattern. Still not certain which of the 2 patterns will win out but it does appear the decision is very likely to be made within the next 3-10 candles. For the falling wedge to win and a break upward it is imperative priceaction holds support on the blue 200 weekly moving average. If this is flipped to solidified resistance then probability will favor the head and shoulders breakdown. *not financial advice*
NYSE:PSA
by DrDovetail
AUDUSD - Trade SetupHello Dear fellows, How are you doing this Christmas season? i am hoping you all are good and doing great and May GOD safe you all the time. So let's discuss the Market , As you know i was Seller in this pair in last week , but last week's closing changed the sentiments little bit , and now i am buyer in this pair . if i will get any good opportunity i will notify here in comment box ( Trade updates ) . Trade carefully so 2023 will bring more success. Best Wishes
Long
by iTradeForexZH
NIO: Waiting on the Bottom for EVsThis is not actually a bottom starting yet. NIO needs to show some up and down sideways action that holds above the low of 8.40. But it is at strong support level from its IPO sideways pattern from 2018. This is a weekly chart so you can see that long-term support, which is both fundamental and technical. For ALL Electric Vehicle manufacturers, 2023 may possibly be that big growth year. It is important to keep an eye on all new technologies because when the Post-pandemic Renaissance really takes off, the speed at which EV dominates will probably surprise most people. The top 3 EV companies, Top 3 Semi-conductor companies for EV, the Top 3 companies for major components like solid state batteries, the Top component manufacturers for sensors, etc. are all up for grabs. Nobody has the lead right now. It is all about who can convert to robots and robotics faster and who incorporates solid state batteries and other component integration to meet demand. Don't worry about charging stations. Those are already being built and incorporated into gas stations everywhere, corporate offices and public transportation.
NYSE:NIO
by MarthaStokesCMT-TechniTrader
1
W Bottom to Momentum Run Example: CATWeekly Chart of CAT: this is one of the Dow components that is nearing its previous all-time high resistance levels. It is one of the first few Dow 30 stocks to challenge prior all-time high prices. Caterpillar Inc. has been running with momentum that will now pause or stall at this level. Now, watch to see which support level holds as profit-taking continues. This is NOT a trading range but an intermediate-term correction ending with a W bottom. Important to note the differences. A bottom after a correction tends to set up for momentum runs that can sustain longer than they do within a trading range.
NYSE:CAT
by MarthaStokesCMT-TechniTrader
1
LINK may be breaking up from triangle; nearing daily goldencrossLooking at the weekly chart here to get a better view of this pink triangle’s trendlines. We can’t see on this chart how close the daily charts golden cross is from happening but it appears to be less than a few daily candle closes away from occurring. If this symmetrical triangle confirms its bullish breakout the target is around $11.32- $11.47. Reaching this target would bring price action up out of a much larger triangle that its been in for far longer that has a much larger breakout target to go with it, however we can see the stoch rsi on the weekly chart has ventures into the overbought zone so it increases the odds that when price action first retests this yellow trendline on the way to the target it will encounter it as resistance, same with the descending white trendline as well. The stochrsi is also overextended on the 1 day chart too increasing the probability that price action will encounter resistance along the way to the breakout target that may result in some level of correction. Still always possible it finds a way to break through both of these resistance lines with ease just a lower probability with stoch rsi already in the overextended zone. If it can sustain the breakout and reach its full breakout target then I believe it will sustain the daily chart golden cross and in time trigger the breakout from the much larger triangle pattern as well. *not financial advice*
COINBASE:LINKUSD
by DrDovetail