GarethSolowayOfficial

GarethSolowayOfficial

Here we are looking at GOLDs chart structure prior to its massive 10 year run up in the 2000’s, compared to XRPs chart structure dating back to March 2020. It’s important to note that the GOLD fractal we’re looking at is on the monthly time frame while we’re looking at XRP on the daily… Nonetheless, the two charts have daunting similarities in structure, which...

GarethSolowayOfficial

Here we are looking at NFLX on the Daily TF… As you can see, Netflix has broken down from its previous macro support (blue), and retraced back to the scene of the crime. Currently, it is re-testing this very same previous support as newfound resistance. While I can’t suggest how YOU should trade it, this certainly appears to me as a VERY strong short set up...

GarethSolowayOfficial

Here we are looking at AAPL on the Daily TF… In this chart, AAPL is testing a crucial zone as resistance, which acted as previous macro support dating back to September of 2020. As you can see, there is also a downwards sloping resistance forming as well, which it’s testing as well. In testing its previous macro support as newfound resistance (red) and local...

GarethSolowayOfficial

Here we are looking at ETHUSD on the 8hr TF... As you can see, we are looking at ETH within a symmetrical triangle, which it has been trading within since the breakdown following the FTX crash. Currently, ETH finds itself testing resistance. Throughout the bear market, weekends have been slow for price action in the crypto market, so it's gonna need some late...

GarethSolowayOfficial

Here we are looking at BTCUSD on the Weekly TF… Let’s begin by taking a look at the key zones that Bitcoin is interacting with NOW. Currently, BTC is testing two resistance lines. The first line we’ll look at, is the resistance of the parallel price channel that BTC has been trading within since price broke down from the FTX news in late November. What’s...

GarethSolowayOfficial

Look at this chart of WBD on the Daily TF. On the right side of the chart you will see a purple box which marks a pivot point. Off of that pivot point, there is a Yellow resistance line, where price action was chopping along for some time. The price action then started creating lower highs and lower lows creating a downward sloping megaphone pattern. When you...

GarethSolowayOfficial

Here we are looking at DOTUSD on the Daily TF… For this analysis, we will keep it brief as the chart here is very simple. As you can see we are in a falling wedge which consists of downwards sloping resistance and a descending line of support. The descending line of support stretches all the way to the lows (at the time) made back in July of 2021. Every time...

GarethSolowayOfficial

Take a look at this beautiful chart. We are looking at the BABA chart on the Daily TF. Let's start out at the bottom of this chart where you can see the first measured move (purple measurement), which moved 36.30 points. Then, notice that the second measured move (blue measurement), if we extend it up to 36.30 points, it takes you up to the yellow line. The...

GarethSolowayOfficial

Here we are looking at ETHUSD on the Daily TF. As you can see, ethereum has broken out from its macro downwards sloping resistance (green), which had acted as strong resistance since January of 2022. Now that it has broken out, let’s try and analyze what zones we should monitor in the immediate short term… Ethereum has been trading within a parallel channel...

GarethSolowayOfficial

What we are looking at here is TDOC on the Daily TF. Draw your attention to down sloping trendline (Yellow). You will notice that the yellow trend line is acting as resistance and the price action has hit this line a couple of different times. The price action from today (1/9/2023) helped solidify the downward sloping trendline and showed us that the resistance...

GarethSolowayOfficial

Here we are looking at MATICUSD on the Daily TF… Let’s begin by zooming out on the chart to get a sense of the important zones that we must consider when analyzing Polygon in its local price range. When looking for Macro support, the strongest support line that we can draw rests at approximately $0.31 as marked by the bottom (green) line. In the immediate...

GarethSolowayOfficial

What we are looking at here is META on the Daily TF. I want to draw your attention to the downward sloping line (yellow), where price action has been attacking since the beginning of April. The yellow line was acting as resistance until the 5th hit of that line, when a break out occurred (purple box). Now that we have seen a breakout above that resistance...

GarethSolowayOfficial

Here we are looking at BTCUSD on the 12hr TF… As shown on the chart, we are analyzing BTC in its local sideways channel within a macro descending wedge (see prev. Post for macro analysis on descending wedge structure). Bitcoin has been trading within this channel since the FTX crash, and hasn’t had much volatility since then. While this pattern is technically...

GarethSolowayOfficial

Here we are looking at SNOW on the Daily TF. I would like to draw your attention to the up sloping Yellow trend line. If the price action closes below this trend line we can expect further downside action. The next target for SNOW is to the Green support line. Once the price hits the Green support line, you can look for a couple day bounce possibly back up...

GarethSolowayOfficial

What we are looking at here is the CFD on Silver on the Daily TF. We are looking at a downward slopping trend line (top yellow line) that is acting as resistance. Towards the end of the downward slopping trendline you will see a purple box which incases a potential topping tail. If this is a true topping tail (we will know at the close), combined with the...

GarethSolowayOfficial

Happy New Years! Here we are looking at ETHUSD on the Weekly TF. I’d like to begin this analysis by looking at the local trading channel (white) that ETH has been trading within for the last 9 weeks since its sharp move down. Since its move down into this range, price action has been slow which has translated into sideways movement on the charts. The sideways...

GarethSolowayOfficial

What we are looking at here is a beautiful NVDA chart on the Daily TF. We are going to start at the middle of this chart where you will see the parallel channel that is being marked with the blue rectangle. The price moves through the channel and touches both the top and the bottom of the channel several times. Ultimately the price action moves to the top range...

GarethSolowayOfficial

Okay guys look at this beautiful chat. Here you are looking at MSTR on the Daily TF and you have a lot of stuff going on. Notice the wedge pattern that is forming from the down slopping (yellow) line and the parallel (green) support line. That is forcing action to the corner of the wedge. You will also notice that before the continued downward movement in the...