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TRENDLINERETEST

XRP Successful Trendline Retest - Last Weak Hands Shaken Out imoA few hours back xrp and other alts underwent a quite brutal correction. I think that with this shakeout, last early weak hands have ben shaken out in my opinion. We could consolidate a bit in those price areas before another leg up. Going back down into new lows is not entirely impossible, but highly unlikely at that point and also considering that this retest was a double one. I am not a financial advisor so don't buy anything that a say. Have a nice one. BITSTAMP:XRPUSD
BITSTAMP:XRPUSD
by CR35
Beware the Ides of March! Possible Bull Trap Corrective Wave2!?!Chart says all. I do not pretend to know WTH is gonna happen tomorrow, can't even see 20 seconds into the future fgs. IF this plays like I think it might, gonna get Beary Ugly PDQ. See divergent indicators; the major indexes also diverge, DJI at new ATH while this struggles back to the breakout point. Gonna reject under the TL IMO. I'd short this in QQQ March contracts. First wave took QQQ to 310; a 1.62 extension of the 28-pip drop from 338 ATH from current price at ~325 yields -45, so wave 3 might carry price down to 280; 5th wave grind back to just above October lows, around 11200, QQQ around 272 (above the 268 low on support line). If it won't bull by Tuesday 2 March then that dog won't hunt IMO. Expect this Unwind to grind down to the Ides on Monday 15th. Gonna hit the Moon after this plays out...if it plays like this! This one goes out to The_Unwind; the bears emerge from hibernation! Trade at your own risk, this is definitely NOT investing advice, just a WAG and a dice roll! GLTA!! PS: "Making predictions is difficult, especially when it's about the future!"
CME_MINI:NQ1!Short
by DaddySawbucks
20
Technical Basics: QCOM Possible Upside Move?Those looking for a simple technical analysis (TA) could revisit the use of trendline. Its one of the most basic tools. As depicted in the QCOM chart, one could find the potential move of QCOM. Trendline 1 could tell the reader its a confirmed uptrend with at least 3 point of touches by the trendline. Trendline 2 is also a confirmed uptrend with the same 3 point of touches. Trendline 3 is a unconfirmed uptrend and could be a weak one as it only have the minimum 2 point of touches by the trendline. The angle of ascend of each trendline may also tell us the sustainability of the trendline. A more upsloping (near vertical formation) would not sustained the upward move. The ideal upsloping or upward trendline angle would be around the 40 degree angle. The use of trendline not just restrictive to price action, but it also can be used to determine Volume trend. As depicted on QCOM chart, the volume is drying up by the down sloping of the trendline. A break of the down sloping trendline could potentially pushing up the price of QCOM further high. Beside using trendline to determine the next up or down trend move of a particular instruments, trendline could also be used as a dynamic support and resistance line. As an example depicted by QCOM chart, Trendline 3 currently supporting the upward move of QCOM price action, but if it fails the next dynamic support could be Trendline 2 and Trendline 1. A price action falls below Trendline 1 could signal a change in trend from Bullish to Bearish. One need to update his/her trendline from time to time in order to accounts for the latest price action move. Happy trading guys.
NASDAQ:QCOMLong
by mukhriz.mangsor