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TFUEL/USDT - major move aheadTFUEL/USDT is right at the tip of a symmetrical triangle if we look at it on the log chart and currently building support on top of the first big move (green dashed line). I lean more to the bullish side with this setup but you should also be prepared for a big move down which could move TFUEL to around .7 cents which means that you should either wait for a breakout above the trend line / a breakout on the RSI and / or place a stop loss if you enter now. It's possible to short TFUEL so it doesn't matter if you're a bull or bear, it's worth keeping an eye on this. Phenomenal risk-reward on this setup. Best of luck with your trades and let me know what you think!
by Wolfy_
6
KMB Golden Cross| Bearish Divergence| Blue Sky Breakout?Evening Traders! Today’s technical analysis will be on Kimberly Clark Corp that has retraced from its local top after a clear bearish divergence. Points to consider, - Price retraced to the .382 Fibonacci - .50 Fibonacci in confluence with structural support - Golden Cross in fruition - RSI diverging from price - Stochastics in lower regions - Volume nodes above average KMB has respected the .382 Fibonacci allowing the bearish divergence to play out; this has put in a local top. The .50 Fibonacci is in confluence with structural support, this being identified as a key trade location. The golden cross is coming to fruition, historically a bullish indicator as the price tends to rally. RSI is diverging from price, putting in consecutive lower highs, currently is neutral. The stochastics is projected downwards with stored momentum; it can stay trading in the lower regions for an extended period of time. The volume nodes are above average, indicating key trade locations are being tested in this major trend. Overall, in my opinion, KMB needs to respect the 200 weekly MA to increase the likely hood of breaking local resistance and confirming a blue sky breakout. What are your thoughts? Please leave a like and comment, And remember, “Win, loss whatever emerges in the short-term, place and manage your next trades untouched, unattached... always keeping your eyes on the long-term picture.” ― Yvan Byeajee
NYSE:KMB
by AzizKhanZamani
CGC Bear Trend|Critical Weekly Support|MJ Sector Evening traders, Today’s TA will focus on CGC which is in a brutal downtrend and is currently testing a critical support that if broken will send it to next local support situated at the $5 level. Points to consider, - Strong bear trend - Critical support being tested - Break of .236 Fibonacci (bullish case) - RSI broke key trend line - Stochastics projected downwards - Noticeable bear volume nodes CGC is in a strong bear trend with consecutive lower highs, this is evident across all stocks in the MJ industry. The critical support is currently being tested, due to the nature of the trend; it does have the probability of breaking. For a bullish case, CGC needs to break above the .236 Fibonacci level, this will put in a higher high and negate the overall bearish structure. The RSI broke its key trend line, this was coincided with the bear flag – the 200 MA also broke at this level. Stochastics is projected downwards, still has stored momentum to the downside and has not yet flattened out. CGC has noticeable bear volume on weekly nodes, a volume climax will send it breaking though support and put in a temporary bottom. Overall, in my opinion, CGC must hold this critical support; a break will send it to penny stocks territory where it can stay down there for a while. This is very similar to all stocks across the MJ sector. What are your thoughts? Please leave a like and comment, And remember, “Hope is bogus emotion that only costs you money.” – Jim Cramer
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by AzizKhanZamani
8
LINKBTC Bearish Divergence| Structural Support| .618 Fibonacci Evening Traders! Today’s technical analysis will focus on LINK’s blue sky breakout that currently has a probable bearish divergence at play. Points to consider, - True blue sky breakout - Structural support (S/R flip) confirmed - .618 Fibonacci in confluence - RSI diverging from price - Volume nodes below average LINKBTC has been in price discovery mode where there is no established resistance; this can be reflected by the VPVR. The structural support has been tested confirming the S/R Flip. This level is also in confluence with the .618 Fibonacci – only if current local top is in. RSI is diverging from price, putting in a lower high whilst the price puts in a higher low; this is a sign of topping out. The stochastics in currently projected downwards with lots of stored momentum. The current volume nodes are below average after initial impulses, signalling a potential climax in buying. Overall, in my opinion, LINKBTC may have put in a potential local top; a retrace to the .382 Fibonacci is the next logical target. If this level fails to hold, then a second retest of structural support comes in at play. What are your thoughts? Please leave a like and comment, And remember, “The desire for constant action irrespective of underlying conditions is responsible for many losses in Wall Street even among the professionals, who feel that they must take home some money every day, as though they were working for regular wages.” – Jesse Livermore
by AzizKhanZamani
3
FANG Stocks| Facebook Oversold Bounce| Fed Rate Cuts?Evening Traders! Today’s technical update will be on Facebook with an oversold bounce coming to fruition, this is similar across the board due to the immense sell pressure. Points to consider, - Trend broke key 200 MA - Local resistance being tested - Local support at .50 Fibonacci - RSI approaching yearly lows - Stochastics in lower regions - Bull Volume influx Facebook broke its key 200 MA which plays a historical significance in determining a bear or bull trend. Currently the local resistance zone is being tested (market close) which is in confluence with the 200 MA. A close above will increase bullish bias. A rejection will technically put in a lower high, which is very bearish. Local support is at the .50 Fibonacci, this can be considered to be the nest logical support if the bears continue to control price. The RSI is trading at yearly lows; this level here technically indicates a short term bounce. Facebook’s stochastics is also trading in lower regions, can stay here for an extended period of time, however lots of stored momentum to the upside. Upon market close, there has been a clear influx in bull volume, signalling potential seller exhaustion for the short term, it would only be natural to have a relief rally at some point. Overall, in my opinion, Facebook and stocks across the board have a high degree of probability in having in oversold bounce. Oscillators are extended, local resistances needs to break otherwise lower highs will be set, which is extremely bearish. Will Fed rate cuts save the economy again? Please leave a like and comment, And remember, “The obvious rarely happens, the unexpected constantly occurs.” – Jesse Livermore
NASDAQ:META
by AzizKhanZamani
BNBBTC Golden Cross| Inside bars| Hidden Bullish Divergence Evening Traders! Today’s update will be on BNBBTC with an initial rejection from structural resistance, it is now resting on the 200 MA. Points to consider, - Trend putting in a lower high - 200 MA as support (Golden Cross) - Structural resistance as target - Hidden bullish divergence - Stochastics in lower regions - Healthy volume profile BNB is putting in a probable higher low after initial strong bear impulse, currently testing a critical trade location with inside bars. The 200 MA is an importance level of support, currently being held with an official golden cross. Structural resistance is current target, a close above will be very bullish as this will put in a new higher high. The RSI has a hidden bullish divergence as it puts in lower lows whilst price action puts in higher lows from yearly lows. Stochastics is currently trading in the lower regions, crossing bullish, with lots of stored momentum to the upside. The Volume profile looks healthy, strong bull volume nodes present. An impulse bull break of the daily inside bars will maintain further bull volume. Overall in my opinion, BNB is likely to be supported here as the 200 MA is a key level. There are bullish signs in confluence; a retest of structural resistance is probable. What are your thoughts? Please leave a like and comment, And remember, “Confidence is not "I will profit on this trade." Confidence is "I will be fine if I don't profit from this trade.” ― Yvan Byeajee
Long
by AzizKhanZamani
BTC Oversold Bounce|Oscillators exhausted|Probable higher HighEvening Traders! Today’s update will be on BTC which has negated the cup and handle formation (see chart linked) and now is in an established down trend. Due to the immense selling pressure, BTC is probable to have an oversold bounce cooling of oscillators such as the RSI. Points to consider, - 21 EMA broken - Structural support intact - RSI oversold - Stochastics in lower regions - Heavy bear volume Bitcoin has broken all key moving averages on the 240 timeframe; this includes the 21 EMA that kept the recent bull trend together. Major daily structural support is intact; a break of this level will increase probability of further downside. The RSI is clearly oversold indicating a probable pull back in BTC; if this was to come to fruition it will increase the chances of a higher low in the trend. Stochastics is currently in the lower regions, can stay trading here for an extended period of time, however lots of stored momentum to the upside. Evident bear volume has cascaded BTC, a proper climax is likely to confirm a temporary bottom. Overall, in my opinion, bears are likely to over-extend on selling and create an oversold bounce, cooling of oscillators and putting in a potential higher low. What are your thoughts? Please leave a like and comment, And remember “There is a huge amount of freedom that is derived from not fighting the market.” ― Yvan Byeajee
BYBIT:BTCUSD.P
by AzizKhanZamani
1