Regardless of the type (reversal or continuation), rising wedges are typically bearish patterns, even if only temporarily. Bearish confirmation of the pattern does not come until the support line is broken in a convincing fashion. Once support is broken, there can sometimes be a reaction rally to test the newfound resistance level. Ideally, the volume will...
Tilray appears to be trading in an Ascending Triangle pattern, notice the green upward sloping line has acted as support multiple times, fairly bullish considering the now known merger with Aphria. The blue pattern on the chart is forming a bullish flag or potentially a descending triangle. On the KST there has been a bullish cross where I have placed the blue...
In one of my previous charts, I was hinting at the potential of an Ascending Triangle forming, once again the green upward sloping support of the pattern has acted as support several times, and on the contrary, the horizontal resistance has rejected the bulls multiple times. Notice on the RSI the blue downward sloping resistance has caused lower highs to form,...
TNY appears to be trading in a Macro Bullish Flag, or, potentially a descending triangle. I have a hard time believing this pattern plays out bearishly due to the 12 co-packing clients yet to be announced to the public market, some of these co-packers will put Tinley on the Map, according to the CEO in an interview in April 2019. The KST is displaying a bullish...
On the KST there's a noticeable bullish cross where I have placed the blue finger. On the RSI there has been a higher high for the first time since the blow-off top in the middle of August, rather bullish in my opinion.
Pepsi appears to be trading in an ascending triangle drawn in blue, but additionally, there's a noticeable inverted H&S, the blue head icon represents the head, and the two dark green lines are the shoulders. I have placed a blue finger on the KST to represent a bullish cross. On the RSI there appears to be a descending channel & potentially a triple bottom...
GLXY appears to have broken flush to the upside out of an Ascending Triangle, if there's a retracement in the near future it would be ideal if the horizontal blue line of the pattern turns into support. On the KST there's a noticeable bullish cross. Higher highs & higher lows on the RSI. GLXY is outperforming Bitcoin on a 1-year time frame by over 300%, but...
On the KST there is a similar Ascending Triangle and a noticeable bullish cross where I have the blue finger icon pointing upward. I have placed three green finger icons on the regular chart & KST that could be an indication of a triple bottom. In my previous gold post linked to this chart I mentioned how Gold was trading in a bullish flag or descending...
OSU is trading in a bullish flag outlined in blue, and the red downward sloping line is potentially forming a descending channel. On the RSI there is a similar bullish flag or descending triangle as to the price. The KST is in an area where we have seen previous bullish crosses, see blue finger icon for examples.
JPM is noticeably breaking the downward blue sloping resistance of a possible bullish flag, notice on the RSI we have already seen a breakout of the pattern and a re-test of old resistance turning into new support, very bullish. Not a big fan of JP Morgan, only for bashing Bitcoin, other than that, they have the FED in their back pocket, DON'T FIGHT THE FED,...
TNYBF has broken flush out of a falling wedge to the upside on the RSI, when a stocks price has been falling over time, a wedge pattern can occur just as the trend makes its final downward move, hopefully, that's what has occurred in this situation. Tinley's breaking the downward sloping resistance of a bullish flag on the price action outlined in dark blue, only...
Bitcoin has broken flush out of an ascending triangle to the upside. On the RSI there's a noticeable breakout of what appeared to be a giant multi month descending triangle, turns out it was a bullish flag, we've already seen a back-test of what was the downward sloping resistance, and it has acted as support for the time being. On the KST we can see a similar...
The blue pattern in this chart is displaying a noticeable ascending triangle, TSLA has seen bullish support enter the market twice at the blue upward sloping line of the pattern, and on the contrary, the flat horizontal blue line has acted as resistance multiple times forming a Ascending Triangle. There's a bullish cross on the KST where I've placed the blue...
Gold is trading in a noticeable Bullish Flag or Descending Triangle, and the RSI is displaying a similar pattern as well as the KST. On the KST there's possibly a Triple Bottom and a Bullish cross happening on the third bottom, we'll have a better understanding of the third bottom if it remains a higher low in the upcoming trading days/weeks. If the KST gets...
Good morning Traders On account of brrr machines sustaining market liquidity, here's a macro bullish count. Bitcoin does seem corrective on this rise but could be completing a larger wave 2 before the real fun begins. For now we have a 3-day MA50/100 cross followed by a bullish retest and confluent with hidden bullish divergence on RSI. Dollar index also not...
Notice on the KST there's been a bullish cross, I have placed three blue finger icons to represent previous bullish crosses. The red finger icon on the KST is there to display some weakness in the previous bullish cross, notice how there was no higher high creation on a Macro perspective and the blue downward sloping resistance, if we get a bullish cross on the...
The KST has seen some very healthy bullish crosses, I've placed three green finger icons to represent each golden cross. It's always possible we see a fake-out to the upside similar to the fake-outs to the downside where I have placed the two sideways blue icons underneath the baseline support of the pattern. On the RSI it's possible we see a retest of the...
Good day Traders, BCH seems to be contracting within a B wave triangle and has just completed wave E of B imo before the next final leg up to complete wave C of the zigzag (wave E usually falls short of triangle support). We've already had a 50/100 bullish cross on the daily and the 200 day is perfectly aligned with triangle resistance at around $267....