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Bounce

PSNL Long off Channel Support PSNL with textbook ascending channel. Traders could open a long position when a stock's price reaches the ascending channel’s lower trend line and exit the trade when price nears the upper channel line. Enter trade around $40 looking for a move back back up. Analysts: Predict $44 Warning: Run a tight stop-loss insider sale @ $38.67 Feb 3rd. Extra info: management team will present at the BTIG Virtual MedTech, Digital Health, Life Science and Diagnostic Tools Conference on Thursday, February 18, 2021 at 12:00 p.m. Eastern Time.
NASDAQ:PSNLLong
by Swag_life
USDCAD - Trend Continuation - Break of Triangle - MTFAHi Traders! The market is in an overall Downtrend. Let's begin our Multiple Timeframe Analysis with the weekly Timeframe. Then we'll continue with the daily, H4 and hourly Timeframe. Here is the weekly TF: As you can see the market is in a Downtrend. In addition, it recently broke out of an important Support Level. Furhtermore, during the Breakout, the market is also in a Falling Wedge. At this moment the price is doing several things at once: - Retesting the Break of Support (Support turns Resistance) - Price at upper Trendline of falling Wedge - Price at resisting 50 Exponential Moving Average Let's continue with the daily TF: Here you can see the same situation as at the weekly Timeframe, but is is more detailed. For example, we see, that the EMA is now underneath the Price. But it also means, that in case of a bearish Breakout, the EMA will again above the price. That'll push the price lower. Moving on to the H4 TF: In this chart we can identify a descending Triangle Pattern. This pattern is a Trend Continuation and also a Trend Reversing Pattern. In this case, we are going to trade the shortterm Trend Reversal. The Support at 102.900 can be used as a conservative Profit Target. Lastly, the Entry H1-Timeframe: The Entry Trigger is the bearish Breakout of the Triangle. We're looking for putting the SLs above the recent Highs. The Risk-to-Reward is 1 to 1.8. We recommend to trade the Retest of the Breakout. Thanks and successful Trading :)!
Short
by swissmoneymakers
4
Will Bitcoin Bullish Rally Continue?Hello, dear subscribers! Let's take a look at current Bitcoin price action. We can see that the Head and Shoulders bearish scenario was cancelled becauce the neckline area was not broken. There was also the danger of dead cat bounce scenario that could means the end of bullish rally but the price was able to find support above the 61% Fibonacci level according to swing high and low. This bearish scenario was also cancelled. Now we can see that the price faced with the rejection exactly at the 78% Fib level but it is normal situation. If the price break through the 78% Fib the next rejection will be at ATH level, but now according to this analysis we can see that there is a high probability of bullish rally continuation and we can see the $44600 (R3 monthly level) during next week.
Long
by Skyrexio
4
Dead Cat Bounce ScenarioHello, dear subscribers! Today we are going to examine a very interesting chart pattern which can help you to find the hidden danger in the market. The dead cat bounce is the reverse bearish pattern, hence the market should be in the uptrend before it's formation. After the swing high point is reached the sharp price drop usually follows. When we are able to identify the swing low we shoud measure the first bounce height. For this purpose we can use the Fibonacci retracement levels from the swing high to the swing low. For the traditional markets it is typically used the 0.5 Fibonacci level, but on the cryptomarkets the 0.61 level can be used too due to high volatility. If the price was unable to close above this Fibonacci level during the first bounce, there is a high probability of dead cat bounce scenario, when the price continue to fall and the global downtrend changes the uptrend. We use the current Bitcoin price action to illustrate this pattern. There is a big danger now to execute exactly this scenario. Please, be careful! DISCLAMER: Information is provided only for educational purposes. Do your own study before taking any actions or decisions.
Education
by Skyrexio
11