OPEC meeting is tomorrow June 2, 2022.
I think if we break the immediate trendline support we can see price fall to around $104/$105 level.
If we continue with the upward momentum we can probably meet the highs back in March of 2022.
Strickly based off of technical analysis here.
Price did hit and touch the daily support zone for a double bottom.
Price came back up to the trend line resistance area.
I would look for a reaction off the trendline and confirm a move downward.
1 Hour chart showing resistance to that area.
15 Minute chart showing that selling pressure. If price can fully...
Snap lost over 80% since September 2021.
Recent price drop..they basically said they won't make earnings.
Support zone between $4.90-$8.00. If price drops below the $4.90 price it might start getting sketchy.
If we see a gap fill, I expect to see some resistance going through $27 zone.
Ultimately I can see the stock go between $40-$48 long term.
I'll probably...
Looking at the Ford weekly chart, share price has fallen hard since Jan. of this year with no relief pull-back. Well over 50% from the low in March 2020. Is it at a good level now for that pull-back to happen?
Notice a possible head and shoulder formation brewing in the works. Price is at the 200ema on the weekly and at the .618 fib level. The .618 fib level is...
We have the death cross, bearish market structure, inflation, US stocks overvalued, major debt, rising interest rates, rising food costs, supply shortages and many more factors which will cause a major market correction over the next year or two, maybe longer.
We may get a bump up to the 50ema or 200ema but a continued fall which I think will be between 50-70%....
Descending triangle pattern developed. This will be a good one to keep on your watchlist. Breakout of either trendline resistance or support, price should head that way. Always watch for fakeouts and look for retests. In the meantime, I'll keep scalping in-between the lines. Good Luck traders.
*This is not financial advice, please conduct your own analysis of the...
Current price is in a consolidation. If breaks over either support or resistance zones looking for a retest. Added alerts to both sides of zones to see which one it hits first.
Simple analysis. My blue trendline is at an approximate location, still waiting for candle to close. Looking for a wick rejection at support. Price making higher highs and higher lows. I'll keep an eye on this one. I'm bullish on this pair at the moment.
*I don't provide signals nor financial investment advice. This is merely my opinion and idea of stated pair.
Price making a new lower low, we will need to see if it prints a lower high. That is a good sign of a reversal. If price makes a possible double top that is a good reversal pattern too. Price currently making a bullish move to a S/R zone. Will it breakthrough or is this just a pullback and price will continue lower? I'm bearish on the pair but always wait for your...
This indicator always works best on higher time frame charts because on the lower time frames it becomes too noisy and not consistent. Suggest not using below the 1H chart. 4H chart or higher is always best. Sometimes it's always easier to see a real life example rather than a drawn out one or simulated one.
This setup currently is looking bearish for me. However, I won't consider entering until I see some more signs of what's going to happen next. If we do have bullish movement breaking previous market structure I would definitely look for a fake breakout or a re-test showing that zone flipping from resistance to support. Good luck traders!
The major trend lines were drawn from the 4HR Chart. First off, way too many lines, but it all makes sense right? I am looking for price to break the current upward trend or my drawn Support. If this price breaks the trend support, I would wait for a retest, all really depends. Major area of confluence due to the 200 EMA being so close by to possibly act as a...
Showing here a strong downtrend, but the RSI shows different. It could mean a consolidation period or an actual reversal for either short term or long term trend. It is at a major level of support in the past which is an area of interest in possibly making that move the other way, LONG.
Bullish on USDJPY for this trade. Bounced off support multiple times showing buyers are there. After multiple touches in the support zone (with long wicks) entered long after a bullish candle closed and took long position in next candle.
In it's current downtrend it is at a strong level of support. I believe price will dance around this area for a bit and reverse to the upside. Price action is strong to the downside and along with the current downtrend a long is a "long shot" however what I think may happen is a reversal. Looking at the RSI I have noticed a pattern whenever the trend is going to...
