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correction could retest top tl of monthly symmetrical triangle.taking a look back at our monthly symmetrical triangle pattern that we broke above a couple months back we can see that it looks likely price action will try to retest the top trendline as support before fully confirming the breakout. In order to retest the trendline, it involves price action having a 31% correction from the recent 12.5k temporary top. We also have a gap on the CME futures chart that needs filled and likely will be filled during this correction which is located around 9.6k. Confluently, the golden pocket is also located in the 9.6-9.7k range. I will probably start to ladder back in longs right when price action reaches that golden pocket and then if we do get lucky enough to retest the top trendline of this blue symmetrical triangle, I will open a much larger long in that range. On the weekly chart(not shown here) the weekly 50ma is currently overlapping the top trendline of this triangle which should give it significantly reinforced support. So in summation, since we have yet to fill the CME gap but are very close to it, I anticipate we will at least dip further enough to fill the CME gap and possibly low enough to retest the top trendline of the blue symmetrical triangle..so for now I am still temporarily short but once we reach these targets I anticipate a massive bounce,
COINBASE:BTCUSDShort
by DrDovetail
1
A look at the Monthly Chart Symmetrical Triangle Pattern!We may come back down and retest the top trendline of the symmetrical triangle before takeoff but to me this looks like probability will favor and validate this pattern breakout. Being a monthly chart it may take several months to reach the breakout target but based on this simple macro pattern we are likely in for a very bullish 2021. Of course we are only just now on our confirmation candle for this pattern we must keep in mind that so far we only have 1 candle closed above it on the monthly..closing the current followup monthly candle above the pattern as well would be a very bullish sign in my opinion *not financial advice* if it were to hit its full target we should see price action reaching above 28k I'm guessing no later than Q2 of next year and a new ATH significantly sooner. *not financial advice*
COINBASE:BTCUSDLong
by DrDovetail
Monthly Candle Closes Above the TOTAL2 Chart's Dbl Bttm NecklineThe monthly double bottom pattern on the TOTAL2(Alt Market) has finally gotten it's first monthly close above the neckline. There are 2 possible necklines here a descending one(notated by a dotted yellow line) and a horizontal one (orange yellow). Both price targets for a breakout from each neckline are listed. Not quite sure which one is more legit but we are now on our follow up confirmation candle on the monthly chart. Probability of a confirmed breakout has greatly increased here but we should be prepared for a retest of the neckline and also a smaller possibility of a fakeout just in case.
CRYPTOCAP:TOTAL2Long
by DrDovetail
Be careful while going longHello Traders, I believe it is extremely risky to go long at this point. While we did just break resistance in the form of the red dynamic trendline, we are about to hit the bottom of the Ichimoku Cloud at around 9900$ which will no doubt provide at least some resistance. We are approaching halving which will be a moment of high volatility. Trade responsibly and set your stop losses. Other than that, have fun trading. Either way exciting times await. Cheers, Deimos
BITSTAMP:BTCUSD
by Deimos3
WILL THE EURUSD TAKE OUT THE MISSED YEARLY PIVOT 2003 @0.9854?Although a lot of traders are indicating upcoming bullish movement into the EURUSD, my technical analysis indicates a continuation of bearish movement. If we look at the Monthly chart of the EURUSD, we can observe two important issues in the chart. 1st. Price is still moving into FIBONACCI extension direction to take out the 161.8% @1.00376 2nd. We also observe a missed yearly pivot of 2003 @ 0.95840 Although the Dollar starts struggling and shows possible downwards movement, this technical analysis shows that the bearish movement in the EURUSD has not finished yet. Between the Fibonacci 161.8 level and the missed yearly pivot only differs 183 pips! Between actual price level and missed pivot differs 1016 pips. Price moves in waves, so on daily charts we obviously will see up and down movements in price, but on the bigger picture we keep continuation of the bearish trend before we really can talk about turning north. Let see what future will bring us.
Short
by ahelfensteijn
1
OIL REACHES 18 YEARS AGO LEVEL Hi traders! This is a fragile chart who need more attention then usual. (Monthly) This level that oil is reaching, was hited in January 2002, long time ago. If this level is breaked, barel price will fall to the next support level wich is 11.66 (more or less) In my opinion you should wait for a nice reverse candlestick patern like a reversed tripple bottom or inversed head and shoulders then go with buyers. Since then, sellers are on charge. Enter in transaction if this level is breaked and good luck at pips!
FX:USOILShort
by Fuelfxc
3
Quick Analysis of 3 key indicators on the Bitcoin MONTHLY chartHi everyone, Welcome to another Bitcoin update on the Monthly Chart! As usual, it's all pretty clear in the chart. I take a look at the MACD, Sqz Momentum Indicator and RSI on the Monthly chart. Assuming we are in a new BULL market (as of April/May 2019), here are some points to consider on the indicators: 1) A bearish MACD cross never happens when BTC is in a BULL market. So we expect the blue line to stay above the orange line until the end of this bull market. 2) Squeeze momentum indicator always shows a bullish decay in the red going into bullish rise in the green all throughout the bull market. We do not expect another bright red candle until well into the next bear market 3) RSI always attempts to stay above the 50 mark in BTC bull markets. If that's the case, there may be a little bit more downside but nothing significant at all. This month's candle is likely to go back to green as we've already had 3 red months in a row; that is quite uncharacteristic in a bull market. Let's see what happens in the PA moving forward. Cheers, Leb Crypto
BNC:BLXLong
by Leb_Crypto
1
S&P 500 Monthly Analysis-When Bulls Get Tired, Bears Get Hungry Looks like the video didn't reveal my drawings as it appeared to during recording, so I've posted the weekly chart here for a zoomed in picture. An unsustainable trend typically results in consolidation or a reversal in said trend. The Month of September will be critical to the US markets, as can be plainly seen in the S&P 500 Futures chart. Bulls have gone from expecting an all-time high to suddenly hoping for an inside candle. As long as September closes above the weekly 50 sma, (2811) most long-term bulls will hold, and this bull market could continue to go extend higher. A close below 2800 will likely bring on 2730 very quickly. I personally expect we see the S&P 500 test the 2500's within the next 6-12 months (12%-18% drop). 24 ema - blue (thin line) 50 sma green (red) thick line 100 sma yellow (orange) circles 200 sma green (red) circles
OANDA:SPX500USDShort
by Red_Ben
1
EURCAD Monthly/Weekly OutlookFirst off, there is a monthly Ascending triangle. The orange lines represent monthly zones. The circles show the touches of the trendline zone. So the monthly has some uptrend structure. When we look down at the Daily chart, we see at the market is currently in a downward parallel channel. However, I'm looking at it bouncing off of one of the bottom two green support zones with confluence of the trendline to continue that monthly uptrend and make it to the monthly resistance that the arrow stops at on the monthly chart at least. For now, I'm looking for it to possibly push back up to the top of the resistance line on the channel then come back down to one of those bottom 2 green supports then go up, or to break the resistance of the parallel channel retest it and start the uptrend now. Either way, I'm seeing that push up for the monthly ascending coming soon. I don't see this downtrend going down past those two bottom supports. But, we know these markets do what they want. So I could be horribly wrong. We will see. Trade at your own risk, I am not a professional and this is not professional advice. I just read some books and think I know a little something. PatiencePays
by PatiencePays777
$XRP >> Moon shot has to wait till Q4. It'll be big though!Hey everyone, Welcome to a brand new update on $XRP. Details in the chart where we look at the volume and MACD indicators. Things look like an XRP moon shot is delayed till Q4 this year. I don't expect much to happen during the coming summer months (July - September). Nevertheless, it's looking increasingly bullish (technically and fundamentally) and I think it will outperform ALL digital assets in terms of gains towards Dec 2019. Cheers, Leb Crypto
POLONIEX:XRPUSD
by Leb_Crypto
1
Bitcoin on the Monthly >> Big parallels with Q2 2016 bull rallyYet another Bitcoin update! $BTC Monthly chart shows a strong parallel between the initial parabolic rise of early 2016 and 2019. 1- In June 2016, Monthly RSI topped out at the same level we seem to be topping out on now, around 60.75! 2- Both had roughly a strong parabolic rise of 300% increase or so in price from the real definitive breakout points, with a BlowOff Top at the golden pocket (61.8%-60.5% fib retrace) 3- Will 2019 retrace 41% as in June 2016? I think it's not unlikely. Let's see! Cheers, Leb Crypto
BITSTAMP:BTCUSD
by Leb_Crypto
BA: Speculative at New All-time High with Contrarian Long-term POnly 2 of the DJIA components are currently at new all-time highs: BA and PG. Boeing gapped and ran up on earnings news with a boost from HFTs and buybacks. Currently, the number of shares held by institutions is dropping. Vanguard, Blackrock, Price T Rowe, State Street, Capital World Investors, Northern Trust, all giants of the Buy Side, have lowered held inventory in recent months. The stock is at a speculative price as smaller funds buy heavily and buybacks of up to $14 billion move price up. Whether this will be a good strategy for BA this year remains to be seen. The chart is the Long-term Trend Monthly chart showing the severity of the speculative buying. Also you can see the Cycle chart pattern using the DPO indicator with a failure to trough V shape. Volume shows a steady decline as well. These are contrarian indicators to what price is doing.
NYSE:BAEducation
by MarthaStokesCMT-TechniTrader
BTC/USD Monthly; 30 minTo hone in on the overall pattern for FY 2018, I pulled a monthly snapshot with 30 minute increments to further highlight my projection of BTC/USD rather than a yearly "overall" to convey how BTC is being deflated one semi-drastic price action at a time when high volume hits various exchanges. I formulated my own fib levels with units of "100.00" rather than using the tool Trading View provides. The number sequence of 0,1,1,2,3,5 along with directional arrows are provided, such that, onlookers may easily understand how I calculated resistance and support for the monthly chart provided by Trading View. Of interest, is the ascending range #3, the descending range #3, and the descending range #5 of price action(s). A more detailed analysis can and should be overlapped onto the very basic monthly chart given; however, the chart shows the overall pattern of deflation of the speculative bubble in FY 2018 within a shorter segment; a month. It is my opinion that if this trend continues, Crypto-currencies in general are only good for swing trading, with the assumption that all factors remain mostly the same. This is my sole opinion; a conjecture that is not to be misconstrued as Financial Advice, implied or otherwise.
BITFINEX:BTCUSD
by thebeesknees11235
Zero MomentumWe have to remember, that there are three directions in a technical chart analysis: bullish, bearish and sideways. To get the big picture, I analyze the monthly chart of Bitcoin today. We realize that on the monthly chart, the down channel is not yet broken. Furthermore, the last three months closes are approximately in the middle (blue square) of the high and low, which are marked with a blue line. This means nothing but there is no momentum in either direction. For already three months, BTCUSD is in a sideways movement and the swings are getting smaller and smaller. However, during the month of March, there has to be a decision. Will it break out on the upper side of the channel and either move upwards or continue its sideways movement? Alternatively, will the red upper channel main resistance line be strong enough for pushing the price of Bitcoin further down to 1140 USD at the green channel main support line? I still stay at the sideline until a new trend establishes. In such a sideways movement, losing money in narrow swing trades is highly probable.
BITFINEX:BTCUSD
by luckyhelper