PaulNorris

PaulNorris

On the gold’s 1h chart, we can see that a bullish divergence has formed. The price formed a lower low but the RSI formed a higher low, which means that the sell pressure is not that high. Gold will go side ways or slightly rise. It will be a good choice to take some profits. Many times when breaking out a pattern, it is really common to see that the price don’t...

PaulNorris

On the BTC weekly chart, I’d like to show you these things that we need to notice. 1.We have formed a rising wedge on the weekly time frame. Or you can disregard the corona dump and you will get a rising channel. BTC tried to broke out the blue resistance, but soon pull back the resistance within a day. You can see it clearly on the daily chart. 2.If the weekly...

PaulNorris

Bitcoin yesterday dumped after testing the previous high and got really closed to the high at 26 June, 2019. A big bearish divergence formed on the daily time frame, perhaps yesterday’s dump is the bearish divergence played out. At the meantime, Bitcoin backed to the short term rising channel support line. I may expect BTC continue to bounce between the resistance...

PaulNorris

On the daily time frame we can see that Bitcoin is forming a inverse head and shoulder pattern(Yellow line) and a cup with handle pattern(blue lines). If we disregard the Corona dump for Bitcoin to make the cup with handle more beautiful, if you regard the dump, perhaps the handles won’t be formed yet. Also we can disregard the wicks to make the target of...

PaulNorris

SPX500 got supported for a few days from the support line we drew. Today SPX500 wasn’t able to keep the support and dumped for 1.86% in a day. Technically, the next support line will be 3320, which was tested by SPX500 for about 7 times from August until now. Also Dow Jones faced its biggest decline in the past 7 months. Let’s take a look at the...

PaulNorris

1.The bitcoin price is coming close to the previous high. If we take a look at the depth of BTC, the selling pressure is a bit weaker than the buy pressure. We may expect Bitcoin break the previous high and test the next previous high. The next price target maybe 13000+! 2.There’s still a bearish divergence on the 1h chart. There may be a small pull back. 3. I...

PaulNorris

1. On the gold 4h chart, we can see that it maybe forming a bear flag, we should pay attention to the resistance and support, only trade when breakout happens and prevent fake out. The bear flag target will be 1829 approximately, which is a 4% dump. 2.If we pull out the Fibonacci retracement tool, we can see that from August to now, Fib retracement levels can be...

PaulNorris

1.SPX500 opened quite strong, pumped for more than 1% as the market started, then dumped slightly and closed with a small pump of 0.47% compare with yesterday.On the 1h and 4h chart we can clearly see that SPX500 met my short term support which I mentioned about 6 hours ago. 2.VIX(blue line) are rising and is near 30. 30 is a critical level as far as I’m...

PaulNorris

1.We can see SPX500 (red and green candles)and DXY (yellow lines) on the chart. DXY has been in a down trend. We can clearly see that there’s a strong negative correlation between SPX500 and DXY . It can be a good news for the US stock markets. 2. VIX is also dropping, it can be a good news for the US stock markets. 3.On the 1h chart, SPX500 is above the...

PaulNorris

1. Bitcoin broke out the channel, with the RSI going higher. The bearish divergence on the 4h chart seems not that obvious.Perhaps technically, there is not that much reason for shorting. But since it is near the pattern I drew before, I personally may just put a small part of portfolio to go long to prevent pullback. 2.US stock markets pumped for more than...

PaulNorris

There’s still an hour and a half for the 4h candle to close, meanwhile the RSI is still rising. Maybe the bearish divergence on 4h chart may disappear.

PaulNorris

1.Bearish divergence has formed on 1h and 4h chart, which means that there’s a high probability that the market had hit the top in the short term, and will start consolidating or enter a down trend. Please set stop loss and manage your.risk. 2.We can pay attention to this upward channel, I think Bitcoin may bounce between resistance and support in the short...

PaulNorris

1.Bitcoin dumped quickly as soon as it reached 11850. Maybe it’s because of Binance, whatever, it means that the buy pressure isn’t strong enough, it turn out to be a fake out. Hope everyone set a stop loss. 2.Notice the blue line, we may have formed a bearish divergence. The price’s higher high isn’t that high enough, but we still need to be careful of it....

PaulNorris

Fake out played out a few hours ago.The previous high is at about 11788,I expect to see price rise to this level with healthy volumn come in to go long(compare with 5or15 minutes volume which reach 11788+). Also, pay attention there's still chance for Bitcoin to break down,don't trade until the breakout.

PaulNorris

1.After BTC reached 11832, it seems that the bulls aren’t strong enough to push BTC higher. Someone may have made some profit and closed the position because of the pull back to 11655. Be patient right now. 2. Right now BTC has been consolidating for a few hours. Hope my friends didn’t FOMO when BTC rise sharply to 118xx. Please remember always pay attention to...

PaulNorris

1.Put a stop loss at least above your entry point, make sure to exit with profit. 2.The target price may not ultimately be reach, please don’t FOMO. 3.The volume is healthy enough, but we still need to see more volume coming in to push Bitcoin forward to the target price.

PaulNorris

1.Bitcoin has been consolidating for about a week. Right now we can see Bitcoin is probably forming a horizontal triangle on the one hourly time frame. We may see Bitcoin take a breakout off this pattern before 21 October 2020. The target price is about 12085 for long, 10819 for short. 2.We should also notice that when the price is consolidating within the...

PaulNorris

From the chart, you can see the SPX500 chart in green and red candles and the US dollar index (DXY) in yellow lines. 1. You can take a look at the strong negative correlation between the SPX500 and the US dollar index, especially before the US election(from September to November) to see why it's important to take notice at the DXY before the election. 2. I...