This pennant has a strong probability to generate a directional move, 15-20% in either direction. Wait for breakout and trade accordingly. Make sure to stay flexible and reverse the position if a headfake occurs. Generally speaking, pennants usually continue the previous trend, and so a downwards breakout should be given a higher probability of occurring.
LTC/USD was getting Bollinger Band squeezed by the consolidation of price between the .5 Fib retracement area and the .236 retracement area following the sharp drop in markets in mid May. Now we see that the price has tried to break downward out of the squeeze, implying what seems to be a bearish bias only to bounce up off the .236 area and enter back into...
Hey guys, This is a quick update in regards to the latest Bitcoin price action following my earlier Weekly update. For those who have not subscribe yet to my chain simply hit that Like and Follow buttons to receive the latest notifications/updates. Last week in an earlier update, I warned that closing below the 1W midband at 48.4K would send us much deeper to...
Once the price re-enters the wedge, the head fake will be complete. Target for breakout is the bottom of the wedge. Disclaimer: This is my personal opinion. This is not advice. Trading involves risk.
1. Each price move of the pennant has taken approximately the same amount of time. 2. Volume has been trending inverse to price for almost 2 months. 3. RSI is still nowhere near the September high, even with the price at a new record. Disclaimer: This is my opinion. This is not advice. Trading involves risk.
Never forget.. Donald Trump from New York is the DEALER of this party. I hope you didn't get faked out on that day of consolidation and loaded the boat with a GIFT form the gods of retouching 301 - 303. Beautiful hand played by the dealer. Wulcya at the line in the sand, I could see us busting it up tomorrow!
I provide this projection to you based on the Bollinger band and volume analysis. We should see a good volume headfake to the upside in the next couple days.
Just look at the picture, I think you get it :)
Fundies... Gap fills + BoJ + Fed Gaps 102 - 103 107 - 108 Fed Fold on Wednesday BoJ Thursday Brexit "Stay" On June 23rd Also...that wedge ;D
I have a solution. Use the moving average 50 period low. Check the 4h chart on US30. Insert a 50 period moving average low. Insert support and resistance lines. You will notice a couple of things, at the end of the last equity rally, it was profitable to short the market EVERY TIME once the price CLOSED below the 50MA. In other words you couldn't go wrong...
HBI recently underwent a 4 for 1 stock split which now makes it a very reasonably priced stock to consider trading. In the past HBI has been a little erratic (with deeper than preferred pullbacks) making it difficult to trade. But overall it has trended well, as can be seen by the unbroken weekly trend, since breaking the 2008 high in early 2013. On the daily...