Trendsharks

Trendsharks

Confirmation of a potential breakout past 14000.00 would allow market bulls to join the existing uptrend. They can open long orders just above this crucial resistance while placing their stop-loss orders around the dip of the last bearish pullback (around 13700.00). The significance of the latter is also confirmed by the fact that the 20-day MA (in red) is...

Trendsharks

Tesla is set to post its quarterly earnings after today's market close. While the market expects the company to deliver robust performance, the continuation of the underlying rally is far from certain. The general stock market rally has been showing signs of weakness over the past several weeks amidst rising U.S. yields and fears of soaring inflation. Meanwhile,...

Trendsharks

The Federal Reserve in the U.S. and the Bank of Japan have their April policy meetings taking place this week, which is likely to boost the underlying volatility currently observed on the USDJPY. At present, the price action is contained within the boundaries of a Descending Wedge, which is a type of pattern that typically entails the likely continuation of...

Trendsharks

The problem with wanting to buy the Bitcoin dip lies in knowing where the dip actually is. And in the case of Bitcoin, using conventional logic to determine the latter simply will not do. That is so because the crypto-king continues to epitomize the so-called "animal spirits". Bitcoin's rally was, and continues to be, driven primarily by greed. Traders can be...

Trendsharks

With the earnings data of American Airlines just around the corner, now seems like the perfect time to consider going long on ALL's stock at the most opportune moment. The coronavirus pandemic has pressured the stock as the tourism sector as a whole suffers from low activity - this was exacerbated recently with the global uptick of new cases - but the situation...

Trendsharks

The proposal for the formation of a new "Super League" by a breakaway group of top-tier football clubs in Europe has stirred quite the polemic over the past several hours, especially after the name of the U.S. bank JPMorgan was thrown into the controversy. Leading clubs from England, Italy, and Spain, announced their intentions to create a new competition...

Trendsharks

The EURJPY is currently trading within the boundaries of a major range (spanning between 130.600 and 129.800). If the price manages to break down below the lower boundary of the range, this would open up the possibility for another breakdown towards 128.400 (previous swing low). Such a breakdown would be confirmed if the price manages to penetrate below the...

Trendsharks

Johnson & Johnson just posted better-than-expected EPS data for Q1. Meanwhile, the company's shares continue to strengthen above the 50-day MA (in green). A potential breakout above the clearly visible Bullish Pennant would signify mounting bullish momentum, which can be taken advantage of. Bulls can catch a potential upswing towards the major resistance level...

Trendsharks

The EURUSD may have already reached a peak, despite persisting dollar weakness. The pair has been establishing a descending channel ever since it reached a swing peak at 1.23500, which presupposes continued price depreciation. And even though the price managed to break out above its upper boundary yesterday, there is still a chance for a sharp dropdown. This...

Trendsharks

The GBPNZD pair appears to be forming a new Dead Cat Bounce pattern, which typically signifies likely bearish reversals. An opportunity to sell around 1.94500 (previous swing high) may emerge, provided that the price rebounds from the 50-day MA (in green) and 100-day MA (in blue) for a second time. It did the same during the establishment of the first Dead Cat...

Trendsharks

Netflix's share price appears to be developing a Bearish Bat pattern, which would allow traders to catch a potential rebound. This setup is made especially interesting given the fact that the company is set to report quarterly earnings on the 20th of April, which is bound to stir extra volatility. The Bearish Bat is not the pattern that Netflix deserves, but it...

Trendsharks

The EURGBP is evidently attempting to break out above the range, which would signify the completion of the previous bearish trend. Consequently, the strengthening euro would then be able to begin establishing a new uptrend against the massively overbought pound. The price action consolidated above the 50-day MA (in green) after the last breakout and rebounded...

Trendsharks

The EURUSD is currently consolidating between the 20-day MA (in red) and the 50-day MA (in green) while bearish pressure increases. The currently emerging Triangle represents a classic trend continuation pattern; however, unless the price manages to break out above the Triangle's upper boundary, it could turn into a reversal pattern. A new bearish correction...

Trendsharks

Following the completion of the bullish Pennant pattern, the EURUSD's upswing appears to have peaked just below the Resistance Area (in green). The significance of the latter stems from the fact that it outlines the previous swing high. This is what gives prominence to the expectations for a bearish correction. The first major test for such a correction is...

Trendsharks

The bullish correction emerged from the latest dip. This appears to have begun establishing a Double Bottom pattern, which is typically perceived as a trend reversal pattern. However, it would take a decisive breakout above 1.38200 and the 200-day MA (in purple) to confirm the beginning of such a new uptrend. On the other hand, a potential rebound from the...

Trendsharks

The first goal of every swing trader is to determine whether the market is ranging or trending. One of the easiest ways to do so is to utilise the Wyckoff Cycle theory, which differentiates between Distribution/Accumulation ranges and Markup/Markdowns. The breakout above the upper boundary of the Accumulation range (the major resistance level at 43.60) signalled...