Wave 2 Triangle correction should be over, entry here or as soon as upper resistance breaks.
Pretty sure it will outpace BTC on the way up if it flies.
Let's keep it short and handy:
I'm expecting a little bounce tomorrow.
- Value is entering a strong area of horizontal Support.
- RSI has a history of bouncing upwards before the oversold area.
I'm not gonna go for a long though because it would be dumb to go for the falling knife catch ;) instead, just be warned not to put your stops too close!
Why I'm looking to short here:
Obviously:
- We're looking to go with the trend, which has been a bear trend since January.
- Even if we were to try to trade for a breakout above the resistance, we would be trading right into resistance.
Also:
- Price was rejected from resistance
- Bearish Engulfing candlestick pattern with superlarge red candle compared to the...
After the massive selloff during the bear market, QSP finally stabilized, and established a small uptrend.
It now squeezes against the last important resistance area before it could fly. In fact, we're buying at an area of almost no resistance.
On the candlestick side, we have a tower bottom which could indicate an uptrend as well.
Just following the trend...
Looks like a textbook rising triangle to me, BTC keeps retesting the previous support that turned resistance with the last major dump. The beauty with this pattern is that you can easily place the stop loss below the triangle support, which seems like a fairly tight s/l to me :)
Keep in mind that if a pump comes, it will most likely not last long and lead to...
My 2nd public TA, again on the DAX, since the last one worked so well :D I would love some constructive criticism so I can improve :)
Personally, I was looking for a way to enforce my short position (risky shit, I know), since I wanna go with the trend.
Seeing the context of the H&S pattern that is being executed, we should expect to fall quite a few points more...
Hello everyone, this is my first public TA so show me some constructive critisicm or support if you liked it.
I suspect a H&S retested the resistance / neckline today and got rejected... probably a good entry for a short now. The price is also being rejected by the resistance line that used to support the overlying downtrend.
Fundamentals also strongly...
