SteveEnnom

SteveEnnom

The cross is still headed down and, although finding some sort of support at the current level, it is deemed to further fall till a probable TP of 1.6676 It is not only USD appreciating, EUR is depreciating too as a consequence of European instability emphasized by the current Italian government uncertainty too. ***Not a trading advice, merely my idea for...

SteveEnnom Updated 

Been a while since the last update, I've been quite busy although I kept reading stuff here and there. BTC is developing a bear flag BELOW the 200 days EMA. This mainly means we are going down! Stochastic RSI shows a fast invesrion from the overbought area down to zero. Personally I would set a target price around 7200, close to the strong trailing support...

SteveEnnom Updated 

EUR/USD cross, although correcting, is approaching a pretty strong support level. It's 116 days the cross is not trading at such a level. Even if the support at such a level should be quite strong, RSI on the 4h chart seems resetting quite fast and recovering from a overbought area towards 0. If 1.194 level is cleared I would expect further retracement.

SteveEnnom Updated 

Tesla is still trading within the profit area I identified on March 19th, 2018. It's currently trading BELOW the 200 days EMA as well consolidating the bear tendence. On the other hand there has been an adding up of long positions lately, probably in the hope of a bounce right after the Q1 earning report scheduled for May the 2nd. The movement on the hourly...

SteveEnnom Updated 

Yesterday and tonight hype took up the ball and took BTC to 9700. The uptrend is definitely there but if the trend cannot act as a support at this level I think BTC will drop down to a previous support: 8-8,3k ***Not a trading advice, merely my idea for educational purposes only***

SteveEnnom

After some interesting Q1 results discosed on April the 19th, with EPS and net margin topping analysts' forecasts, the stock is now continuing in its uptrend with a trailing support netting higher and higher lows. RSI on the 4h chart shows an overbought situation but the distance of price to the support line is currently of 16724bps, roughly a 5,7% margin. ...

SteveEnnom Updated 

SPY completed a bullish Gartley in its daily chart and it's currently headed towards the resistance of 266.70. Overall picture gives a downtrend nonetheless. Stochastic RSI in oversold territory and MACD recovering but still in negative territory confirms it. Not a trading advice, merely an idea for educational purposes

SteveEnnom

BTC is finding a really strong resistance at the 9k level. It is likely improbable that the cross will be able to break such a resistance easily. To all my bull followers be aware, it's quite a while I was saying that a "bull run" was not going to happen. It might happen but just not now. When will it happen? Well, if I'm not mistaken an head and shoulder...

SteveEnnom Updated 

First of all, many were calling for an H&S. Well, I didn't see it coming....and it actually didn't come. That said... Hourly charts shows an ascending triangle formation meaning a continuation of the bull pattern could be underway BUT volumes are pretty low at the moment and Stoch. RSI inverted headed towards an oversold area. All considered, much depends on...

SteveEnnom Updated 

Follow up of a recent post, see related ideas for more. The descending triangle is almost complete on BTC and everyone is waiting for the breakout to see whether the moon is reachable or not. There are a couple of indicators that will help us predicting a huge breakout. Here are some considerations: Volumes are shrinking and shrinking and we're almost at...

SteveEnnom Updated 

Lots of ups and downs lately on Bitcoin, mostly due to huge volumes of BTC sold on the market making the price crash. If we watch the big picture we're still in a bear channel but the prices are creating a triangle formation. Triangles are known for being a continuation pattern so, if the figure completes without breaking up, BTC should continue in an ascent. A...

SteveEnnom

As the title says, "fun is over" but mostly it depends on where you want BTC to go. Bears will have fun, Bulls likely not. There is no moon here, at most you can si back on the ground, it all depends on how you get back to mother earth. Will you fall down from the top or will you just land safely? We are in a downtrend and I've been telling you so consistently....

SteveEnnom Updated 

BTC is forming yet another bull gartley although reduced in size. The Gartley is not yet completed in my opinion and the "D" point will likely hit 7500 again. Notice that the figure is not exactly harmonic so the magnitude of the reversal will not happen "by the books". TP could lay around 8090$. As the previous one, it will be short lived (even more) and it...

SteveEnnom Updated 

Do you remember my latest analysis on TSLA? You can find it in the related ideas. I forecasted a sharp fall in the value of the stock with a TP around the strong support level at 278. Well, the stock is now at 279, right on target. But there's more... The 279 is definitely a strong support being it the level of the "gap up" that happened on April last year. If...

SteveEnnom Updated 

TSLA is definitely in a downturn, both technically and fundamentally. Tchnically speaking the stock developed a double top highlighted by the blow arrows and is now headed for a major correction. A feasible support might be around 277,8 where an initial gap-up appeared around march last year. Stochastic RSI is deeply oversold and volumes support this thesis...

SteveEnnom

As I said In a previous analysis....what if we were in a different phase of the bubble? Here is the drawing of my idea of the bubble. When everyone was calling the "bull trap" at the 17k level I was a bit skeptical. The real bubble bull trap is now. And then the bubble pattern is complete

SteveEnnom Updated 

Even though BTC is definitely in a bear channel, a bull Gartley may be forming in the daily chart. Lower price in D might be around the 7511 support area. Stochastic RSI shows a deep oversold phase, probably due to a quick reversal soon. Long run I keep my bear idea, short term it may revert to bull though. Not a trading advice, merely my idea.

SteveEnnom

Daily chart on Bitcoin shows a pretty clear downtrend. 200 and 50MAs are close to cross (the two are already signalling a downtrend on the 4h and 1h charts). Highlighted in red the levels to watch for resistance/support. With almost all crypto in red territory, the bubble likely popped. Time to get some popcorn and prepare for the show.