Technically this stock has bearish structure on a hourly chart indicating weakness and fall to come in coming days. Fundamentally the recent quarters were extremely bad and it can easily correct to 380 levels. Big people seems to be distributing stocks on a higher levels, whenever demand become weak, the stock can easily correct 5% plus in a single trading...
FX:AUDUSD AUDUSD broke bearish structure on the 1H chart. On the Daily chart, price tested on the strongest support level. Waiting for a retest to go bullish on AUDUSD
FX:AUDUSD AUDUSD broke bearish structure, tested at resistance turned to support, bearish engulfing candle for a bullish setup
After the Ukraine war started Australian dollar made an attempt to break the daily market structure to the upside as Australia is a top commodity country, but failed to break structure and found resistance at the 0.76 area and formed a double top. Since then the price went back to a downtrend and formed another low. I expect the price to follow the Fibonacci...
On the monthly timeframe, AUD/USD prices are keeping the downward structure after creating a double top around 0.80 and bouncing off the bearish trendline several times. In the medium-long term, unless any unpredictable events happen, I expect the price to fall to the pre-covid area which is around 0.57.
OANDA:GBPUSD GBPUSD broke support and retested with a bearish engulfing candle in an overall bearish structure
WEEKLY (W1) Failure of the upside breakout of the weekly clouds triggered a SHOOTING STAR (reversal pattern !) ! In addition, the last weekly closing level @ 42'077 was also below the Tenkan-Sen (42'524) which is also an additional bearish signal calling for a trend reversal towards the bottom of the clouds and potentially lower. Next support to look at in...
Last weekly candle triggered a BEARISH ENGULFING PATTERN ! Indeed, the failure to : 1) Recover above the Mid Bollinger Band 2) Hold above Kijun-Sen and Tenkan-Sen is confirming this persisting downward pressure in this weekly time frame. Looking ahead, it is likely to see an ongoing downside move with temporary recovery attempts in a countertrend tactical...
Today, we are going to look at the 4 hours chart which is showing several (at least 5 !) interesting things 1) Double top in progress 2) RSI bearish divergence 3) Doji top, followed by a bearish engulfing pattern 4) Breakout of the Mid Bollinger Band 5) Lagging line cross under the Kijun-Sen and last but not least, currently the BTC is already in the middle of...
Yesterday's price action, second consecutive long black candle, which firstly confirmed the previous BEARISH ENGULFING PATTERN (Feb 10th) and secondly broke, on a closing basis the base of a triangle pattern. Global picture is not encouraging for the upcoming week and this triangle pattern gives a technical target @ 12'862 which is roughly the same level of the...
WEEKLY (W1) Last week price action is showing a failure to recover and hold above both Tenkan-Sen @ 15'182 and the Mid Bollinger Band @ 15'577 which, for the time being is confirming that the recent recovery was a corrective move only in a broad new bear trend. Look at the shape of the last candle and make your conclusion ! RSI below 50, @ 43.62 Lagging line...
DAILY (D1) Following the recent rally seen over the last couple of days, yesterday's price action triggered a "DOJI EVENING STAR" which closed slightly above the Mid Bollinger Band..but as this kind of pattern is usually bearish, the Nasdaq opened today with a gap and roughly at the level of the ongoing uptrend support line. Today's price acton should be monitor...
DAILY (D1) The Mid Bollinger Band remains a very good indicator which I always consider as "MY BAROMETER" ! The Bitcoin failed to recover and close above the Mid Bollinger Band and as a result, yesterday's price action triggered a long black bearish candle which closed (36'923), below the Tenkan-Sen (37'398) In this daily time frame, as long as the Bitcoin...
Firstly we are going to analyse what happened last week ! Indeed, the failure to recover, at least, above the middle level of the previous candle (long black candle) confirmed that, the " BEARS " keep their advantage over the " BULLS ", at least, for the time being ! In addition, a shy weekly closing @ 37'942 slightly above the weekly clouds bottom level (@...
Yesterday's recovery price action, triggered on a closing basis, a "SHOOTING STAR". Indeed, after a failure to recover above the bottom of the weekly clouds and above the daily Tenkan-Sen, the BTC closed @ 36'829. Such kind of price action is, once again confirming this ongoing persisting downward pressure which is clearly showing a mode of SELL ON RALLY and...
Last weekly closing level @ 36'293, below the clouds and the ongoing weekly downtrend resistance line which is confirming this persisting selling ongoing selling pressure, still in a mode of "SELL ON RALLY" and not in a "Buy on dips" yet ! WEEKLY (W1) Last week price action triggered a long black candle which closed for the first time (since March 2020 !)...
Following VWMA on 6 hr time-trame, the bearish structure follows the George Lindsay 3 Peaks & Domed House. While this is not a daily chart, the framing is strikingly similar. Serious divergence in overall market, resulting in likely major macro-economic correction impacting all markets in 2022. Macro factors likely driving plunge further past long-term center...
Today we are looking at 2 time frames : D1 and H4 D1 : BTC reached an intraday high so far @ 32'930 still below the first significant resistance level (32960 /KS) on D1 and also currently still below MBB @ 32724. No change in my view , watch carefully 32'960 and 31237 on daily closing level. As mentioned, a breakout of one of those level would open the door,...