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Technicalalysis

B.A.C BANK OF AMERICA DESCENDING BROADENING WEDGE (END & ID) BANK OF AMERICA : BAC DESCENDING BROADENING WEDGE EN : WE CAN SEE THAT BAC IS FORMING A PATTERN CALLED DESCENDING BROADENING WEDGE THIS PATTERN IS A STRONG BULLISH PATTERN, WE HAVE TO WAIT UNTIL CANDLE BREAKOUT FROM THE PATTERN, THERES GOT A CHANCE THAT BAC WILL DO HIS DOWN MOVEMENT TO AROUND 23.95 - 22.58 AREA THE REASON IS SIMPLE 1. STOCHASTIC OSCILLATOR HIT THE OVER BOUGHT AREA 2. WE CAN SEE THE SWING HIGH AT TOP ON 3 SEPT 2020 LOWER HIGH (LOWER PEAK) AT STOCHASTIC MAKING A LOWER HIGH (LOWER PEAK) AND 12 OCT LOWER HIGH AGAIN (LOWER PEAK) BUT THE STOCHASTIC IS HIGHER HIGH (HIGHER PEAK) SO A BEARISH DIVERGENCE IS FORMED THIS MEAN BAC WILL DO HIS DOWNSIDE MOVEMENT SURE BAC WILL CONTINUE HIS BULLISH THAT WE CAN SEE AT WEEKLY CHART THE TREND IS STILL BULLISH IF THE BREAKOUT HAPPENED BAC TARGET PRICE WILL BE AT 27.75 THIS IS THE PATTERN TARGET PRICE BAC ALSO WILL CONTINUE ITS BULLISHESS UNTIL 30.45 AND 34.05 BECAUSE OF THE GAP AREA BUT MAYBE IT TOOK TIME FOR CLOSE THIS GAP EITHER 2021 OR 2022 THANKS. … ID: KITA BISA MELIHAT BAC SEDANG MEMBUAT PATTERN YANG DISEBUT DESCENDING BROADENING WEDGE PATTERN INI ADALAH PATTERN BULLISH, KITA HARUS MENUNGGU SAMPAI DENGAN CANDLE BREAK OUT DARI TRENDLINE DBW INI, TETAPI SEBELUM NAIK AKAN TERJADI PENURUNAN HARRGA KE ANTARA 23.95 – 22.58 ALASANNYA SIMPLE 1. STOCHASTIC OSCILLATORNYA SUDAH MENCAPAI TITIK JENUH PEMBELIAN 2. KITA BISA LIAT SWING HIGH YANG DIATAS PADA 3 SEPT MEMBUAT LOWER HIGH(LOWER PEAK) DAN DI STOCHASTIC JUGA MEMBUAT LOWER HIGH (LOWER PEAK) DAN PADA 12 OCT MEMBUAT LOWER HIGH LAGI TETAPI STOCHASTICNYA MEMBUAT HIGHER HIGH (HIGHER PEAK) JADI TERJADILAH BEARISH DIVERGENCE INI BERARTI BAC AKAN ADA PENEURUNAN HARGA TENTU BAC AKAN MELANJUTKAN BULLISHNYA DAN KITA JUGA BISA MELIHAT PADA WEEKLY CHART TREND BULLISH MASIH ADA JIKA BREAKOUT TERJADI MAKA TARGET PRICE BAC AKAN PADA 27.75 INI ADALAH TARGET PRICE PADA PATTERN TERSEBUT. BAC JUGA AKAN MELANJUTKAN BULLISHNYA SAMPAI DENGAN 30.45 DAN 34.05 DIKARENAKAN GAP AREA TERSEBUT TETAPI ITU MEMERLUKAN WAKTU UNTUK MENUTUPI GAP TERSEBUT ANTARA TAHUN 2021 ATAUPUN 2022 SEKIAN TERIMAKASIH BY RUPIN GOH DISCLAIMER No information published constitutes or offer, or recommendation, or advice, to buy or sell any investment instrument, to effect any transcation, or to conclude any legal act of any kind whatsover. The information published and opinions expressed are provided by myself (Rupin Goh) for personal use and for educational purposes only and area subject to change without notice. Rupin Goh makes no representations (either expressed or implied) that the information and opinion expressed guarantees accuracy,adequantess or completeness. In particular, nothing contained consitutes financial legal, tax or other advice. nor should any investment or any other decision be made solely based on the content. All opinion is based upon sources that Rupin Goh believes to be reliable but he have no guarantees that this is the case. therefor, whilst every effort is made to ensure that the content is accurate and complete, Rupin makes no such claim. Limitation of liability Rupin disclaims, without limitation, all liability for any loss or damage of any kind including any direct, indirect or consequential damages. Copyright All material produced is copyright to Rupin and may not be copied, emailed faxed or distributed without the express permission of Rupin Notes: all orders are valid until the next report is published, or a trading strategy alert is sent between reports.
NYSE:BACLong
by RupinGoh
SPX500 - SHORT - ~262 points Since the COVID rebound () price has lived in a ascending channel testing the upper bounds until over-extending and surpassing current all time highs. Price has now rejected the upper bound of the channel, passing the middle and is coming close to the bottom. Looking at the ichimoku indicator we can see the tenkan-sen (Conversion line) is about to pass the kijun-sen (Base line) which implies a bearish reversal - Reference the purple box. This is backed up by also a passing between the MA's on the Stoch RSI - Reference red box. On a fundamental standpoint, we know that a stimulus package is looking unlikely to be passed, leaving many Americans with less cash flow and therefore less cash invested in the market/funds needed to be took out of the market. We are also at a time were the market has continued to over-extend to unmanageable figures (Review most stock P/E ratios currently) given we are still in the mist (arguably the beginning in my eyes) of a recession. Interest rates continue to be at an all time high, nearing a point were they can no longer go lower to assist the market and allow more leveraging. Not to mention we are only weeks away from an Election which could have large implications to the market in the forms of new policies/taxation at a time were it could cause greater repercussions. I do not plan to enter until price has confidently closed into the lower bounds of the channel, near the ~3396 level. I plan to exit the trade once price hits near the 0.786 fib/kumo cloud areas near 3134.4. This should provide a ~262 point trade. For reference similar assets to compare this analysis on based on there correlation % are: EURJPY (80% Correlation over the past 3 months to SPX500) ETHUSD (79% Correlation over the past 3 months to SPX500) An the inverse is true for the following: USDCAD (-85% Correlation over the past 3 months to SPX500) USDCHF (-72% Correlation over the past 3 months to SPX500)
OANDA:SPX500USDShort
by bobbysto18
2
EURGBP, price back above support structuture, price to grow...Please Support this Idea with LIKE if it is Useful.... EURGBP The price is back above the support/resistance level, after a pullback if price holds the support then I expect the price to continue to grow.. For Entry: Wait for the formation of Bullish Candlestick Pattern to close on 4hr timeframe for confirmation to Buy.. Trade it with proper Sl.. In case price breaks below the level then we can look for sell opportunity.. Push LIKE & SUPPORT the Idea... *The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions
Long
by Stargazer_fx
6
Gold Technical Analysis: Touch 1292 And New Sell entry 1294 GOLD edged higher on the last trading day of the week and jumped back above $1290 and 1294 level, just above over one-week tops set in the previous session. Gold H4 200 ma moving average is 1290.95 area breakout and stable this level touch 1296 level. and H4 100 ma moving average area 1285.40 level so stable 100 ma gold touch 1290 area. Gold Day 100 ma moving average level 1280.70 area so breakout this level gold touch 1290/96 area. And Technically Best Sell Area is 1296 level and take profit 1280 Area. Another way, GOLD breakout and stable 1305 level touch 1318 level. Previous Monthly High 1327.8 Previous Monthly Low 1280.1 Daily Fibonacci 38.2% 1279.06 Daily Fibonacci 61.8% 1276.92 Daily SMA100 1291.72 Daily SMA200 1251.07 NEWS:- It would be prudent to wait for a strong follow-through buying before confirming that the commodity might have actually bottomed out in the near-term and positioning for any further recovery, possibly back above the key $1300 psychological mark.
TVC:GOLDLong
by Saleh11
AUD/USD high conviction opportunityOvernight we saw the Aussie take a a hammer blow. With below-forecast Australian Q4 GDP signalling that the country officially entered a “per capita” recession for the first time since 2006. The Aussie was originally pressured by Governor Lowes reiteration of his neutral stance whilst he also noted that is hard to see an RBA rate hike this year. This is what he actually said. "RBA has flexibility to adjust monetary policy in either direction, probabilities of a rate hike or cut are evenly balanced. He also stated it is hard to imagine a rate hike this year, and it is unlikely inflation will be a problem anytime soon. Lowe added that he is confident inflation will get back to the middle of 2-3% target range, Q3 and Q4 GDP likely to be significantly below trend."This coupled with the disappointed GDP caused AUD/USD to plummet before testing 0.7050 to the downside. Another hit was dealt after JP Morgan downgraded their RBA rate forecast to two 25bps rate cuts in July and August 2019, in-line with Nomura’s forecast. On the USD side of the equation we have the DXY initially easing from post-ISM highs wherein the index tested 97.000 to the upside and straddled around 2-week highs. The AUD weakness has spurred the USD on. I see the Aussie slipping throughout the day. Either looking to 70.50 - 60 on a pullback or a break and re-test of the lows.
Short
by FX_Trade_Plan