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Volume Indicator

JSE:J200 Top 40 Change in CharacterThis week has seen the largest down bar. Volatility to the downside has been increasing since 2015 and the clear change in character (CoC) last week could indicate a lot more downside to come. We have been following what has been looking like distribution for some time and this move could be the markdown in phase D. After a possible pause at the bottom of the trading range we could be in for a larger markdown below the trading range in phase E.
JSE:J200Short
by SteynTrade
XRPBTC Double Bottom? | Clear Resistance line to breakEvening Traders! Today’s chart update will be on XRPBTC, which is in a probable double bottom reversal pattern that needs confirmation. Points to consider, - Trend putting in clear lower highs - Double bottom evident (strong support) - Resistant line to break - RSI to break resistance - Stochastics in lower regions - Volume profile in synch - POC in double bottom region XRP has been putting in clear lower highs, until this projection is broken, bears are in control. Strong support has been tested in a double bottom manner which serves as a reversal pattern. A break of the clear resistance line will increase the probability of a double bottom. The RSI needs to break its resistance; this historically leads to an impulsive bull move into the resistance line. The stochastics is currently trading in the lower regions, can stay here for an extended period of time, however lots of stored momentum to the upside. XRP has a clear volume profile which is in synch with price action, further putting emphasis on the double bottom formation. The POC is in confluence which signals strong buying and selling at current level. Overall, in my opinion, the double bottom will only be confirmed with a break and close above the resistance line, that will lead to negating the bearish structure. What are your thoughts? Please leave a like and comment, And remember, “Dangers of watching every tick are twofold: overtrading and increased chances of prematurely liquidating good positions” – Jack Schwager
by AzizKhanZamani
2
INO Broadening Wedge | Coronavirus Vaccine?Evening traders! Today’s update will be on INO, trading in a descending broadening wedge which serves as a bullish pattern. Points to consider - Trend trading in a lower high projection - Broke 21 week MA (S/R Flip) - Structural weekly resistance - RSI resting on support - Stochastics neutral - Clean volume influx INO is trading in a bear trend putting in consecutive lower highs in a macro broadening wedge. The 21 weekly EMA has broken and confirmed as recent support within the larger formation. Macro weekly structural resistance is a key level to close above; INO will be extremely bullish if this comes to fruition. The RSI is currently resting on its support; a break below will increase bearish bias and INO being rejected from current resistance. Clean volume climaxes are evident; this is probably due to fundamentals as the company is trying to formulate a vaccine for the corona virus. Overall, in my opinion, from a technical stand point, this is a classic descending broadening wedge. A close above weekly structural resistance will increase the likely hood of INO meeting the technical target. What are your thoughts? Please leave a like and comment, And psychologically, “Remember that stocks are never too high for you to begin buying or too low to begin selling.”
NASDAQ:INOLong
by AzizKhanZamani
S&P 500 Gap Down Open? | Oversold Bounce Imminent!Hello Traders! Today’s update will be on SPY, a big gap down with immense selling pressure coming in from a technical standpoint. An oversold bounce will be imminent due to overextended oscillators Points to consider, - Key Moving Averages broken - Local support at .50 Fibonacci - RSI oversold - Stochastics in lower regions - Volume Climax nodes SPY broken all moving averages with this impulse move down, clear increase in selling pressure as bulls fail to make a higher low, confirming the bearish divergence. Local support is situated at the .510 Fibonacci; a gap down open will target .618 as next critical support. The RSI is clearly oversold, indication of over extension, increasing the probability of an oversold bounce. 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. SPY has clear volume climax nodes, signalling seller exhaustion, another indication of a probable oversold bounce. Overall, in my opinion, a gap down open will increase the probability of testing the .618 Fibonacci, oscillators by then will be well overextended, putting much more emphasis on a bounce. What are your thoughts? Please leave a like and comment, And remember, “Genuine acceptance that there will be losses on your way to market success will greatly decrease the hurt when they eventually come.” ― yvan Byeajee
AMEX:SPY
by AzizKhanZamani
2
UBER 21 EMA Break | Bearish Divergence| Corona Virus Hello Traders! Today’s update will be on UBER, confirming a bearish divergence as the whole stock market tanks in response to recent developments on the corona virus. Points to consider, - Failure of higher high - Critical 21 EMA broken - Structural support in confluence with .50 Fibonacci - RSI confirming bearish divergence - Stochastics projected downwards - Volume trading at average UBER has put in consecutive higher lows with a recent failure of a higher high signalling weakness in the bulls. An important EMA (21), broke, a daily close below this level will increase the bearish projection. Structural support is critical as this area is in confluence with the .50 Fibonacci, buyers are likely to step in if UBER retraces thus far. The RSI confirmed the bearish divergence by putting in lower highs whilst the price put in higher lows. Stochastics on the other hand is projected downwards with lots of stored momentum. Volume is trading at average, signalling that pressure from both buyers and seller is evident. Overall, in my opinion, a confirmed close on the daily will increase bearish projection as the corona virus uncertainty takes its toll on the markets. A retracement to structural support will be likely if the outbreak worsens What are your thoughts? Please leave a like and comment, And remember, “In order to succeed, you first have to be willing to experience failure.” ― Yvan Byeajee
NYSE:UBER
by AzizKhanZamani
5
Structural Resistance| 200 MA| Higher Lows Hello Traders! Today’s update will focus on ZRXBTC which has broken the 200 MA, structural resistance still in play Points to consider, - ZRX respecting trend line - Structural resistance to break - 200 MA support - RSI resting on support - Stochastics in lower regions - Volume below average ZRX has put in consecutive higher lows in place, respecting the underlying support line. Structural resistance is yet to break; it needs to be confirmed with a retest to avoid a false break. The 200 Moving Average has been broken and is now tentative support which must hold true for upcoming weeks. The RSI is neutral, resting on its support whilst the stochastics is currently in the lower regions, can stay trading here for an extended period of time. Volume nodes are clearly below average, needs to increase upon a bull break of structural resistance for healthy continuation. Overall, in my opinion, Structural resistance needs to break with a confirmed retest to avoid a false break; this will negate the overall bearish market structure. What are your thoughts? Please leave a like and comment, And remember, “The mind is a fascinating instrument that can make or break you.” ― yvan Byeajee,
by AzizKhanZamani
LINK Symmetrical Triangle|Hidden Bullish Divergence|Low VolumeHello Traders! Exciting update today on LINKBTC which is looking quite bullish forming a symmetrical triangle in a blue sky breakout Points to consider, - Trend putting in consecutive higher lows - .236 Fibonacci – Local Resistance - 50 Moving Average, holding support - RSI travelling into wedge - Stochastics in lower regions - Volume declining LINKBTC broke structural resistance confirming the blue sky breakout with consecutive higher lows. It is now trading in a symmetrical triangle with a high probability of breaking bullish. Local resistance is from the .236 Fibonacci, looks quite weak compared to patterns support. The 50 Moving Average on the other hand is holding true after the first retest of the initial break. The RSI is travelling in a wedge and also diverging from price, confirming a valid hidden bullish divergence. Volume is clearly declining, signalling a break is imminent most likely to occur near the apex. Overall in my opinion, a break in either direction is probable due to clear support and resistance. There is however a higher probability of breaking bullish due to the nature of the uptrend. Volume will coincide with a breakout, confirming the pattern being true. What are your thoughts? Please leave a like and comment, And remember, “Focus, patience, wise discernment, non-attachment —the skills you acquire in meditation and the skills you need to thrive in trading are one and the same.” ― Yvan Byeajee
Long
by AzizKhanZamani
BTC Cup and Handle|Hidden Bullish Divergence|$12,780 TargetHello Traders! Today’s update will be on BTC, forming a bullish Cup and handle pattern that will only be confirmed upon a break of structural resistance. Points to consider, - Probable bullish pattern - Clear structural resistance - EMA’s barely holding BTC - RSI putting in lower lows - Stochastics in lower regions - Average volume BTC is currently trading in the handle of the probable bullish pattern yet to be confirmed. Structural resistance needs to break for confirmation with a technical target at around $12,780. The EMA’s are currently upon the cusp of crossing bearish, still trading in the handle where a break from this range will dictate the validity of the formation. The RSI is putting in lower lows, diverging from price, putting more emphasis on the hidden bullish divergence. Stochastics is currently trading in the lower regions, can stay trading here for an extended period of time, however lots of stored momentum to the upside. Volume is average, signalling no heavy sell off, a good indication for a true handle in this formation. The typical criteria that needs to be met in a cup and handle formation is the following 1) At least a 30% Run up from local lows (BTC over 50%) 2) A sell off from high 15-30% (BTC considered early in the handle ) 3) Bottom or floor of support (BTC Local Support) Overall, in my opinion, BTC has a high degree of confirming this probable cup and handle formation after breaking structural resistance. It is a strong contender for the criteria’s that need to be met, putting a technical target at around $12,780. What are your thoughts? Please leave a like and comment, And remember . If winning trades give you a buzz, you’re conditioning your mind to drool in anticipation of its next fix. And when it doesn’t happen, it’ll upset your expectations. If thrill naturally arises (which it will), feel it as it is, but then don’t cling to it.
Long
by AzizKhanZamani
2
S/R Flip| Hidden Bullish Divergence| Holding EMA’s| Scale InEvening Traders! Welcome to today’s update, focusing on XRPUSDT pairings, which is testing a critical support zone with an evident hidden bullish divergence. Points to consider, - Consecutive higher lows in place - Testing structural support (.382 in confluence) - Local resistance to break - EMA’s holding price - RSI diverging - Stochastics in lower regions - Volume below average XRP’s immediate trend has put higher lows, now currently testing structural support which must hold for a confirmed S/R flip. The structural support is in confluence with the .382 Fibonacci, signalling potential buyers stepping in. Local resistance is first target in this trend, XRP can range bound trade from structural support and local resistance. The EMA 26, must hold to avoid a bearish cross, it is important to note that it is also in confluence with structural support. RSI is clearly diverging from price confirming the hidden bullish divergence that is coming to fruition. The stochastics is currently in the lower regions, it too is diverging, putting more emphasis on the bullish divergence. Volume is currently below average, it will require an influx if the S/R flip holds true, volume will play a role in either direction. Overall, in my opinion, XRP is testing an important structural support with EMA’s in confluence. It is probable to see a push into local resistance due to the hidden bullish divergence. What are your thoughts? Please leave a like and comment, And remember, Beginner’s luck often stifles growth. Losses and failure are good for you.
Long
by AzizKhanZamani
BTCUSD High Time Frame Breakout Imminent - IMPORTANT UPDATE Hello My Followers! Today’s update will focus on BTC’s higher timeframe, trading very close to its apex where key levels diverge - a trade opportunity is coming to fruition! Points to consider, - Strong bull trend on weekly - Key support/ Resistance converging - 21 week MA as key support - Volume currently below average - RSI broke key resistance - Stochastics in upper region Bitcoins weekly projection looks very bullish with another potential higher low established as price travels towards the down sloping resistance. Key support and resistance levels are converging, signalling a true apex in the chart leading to an imminent break. The 21 weekly moving average as of historic significance is very valid in determining whether we are in bull or bear market, right now is supporting price. The RSI has broken key resistance, a retest for confirmation is likely, and this is the first time since April that the RSI has breached it. The stochastics is trading in the upper regions, can stay trading here for an extended period of time, however lots of stored momentum to the downside. Volume is currently below average, an increase will confirm a true breakout from BTC’s apex, this will overall confirm the trend of BTC. What are your thoughts? Please leave a like and comment, And remember, “Those traders who have confidence in their own trades, who trust themselves to do what needs to be done without hesitation, are the ones who become successful. They no longer fear the erratic behavior of the market. They learn to focus on the information that helps them spot opportunities to make a profit, rather than focusing on the information that reinforces their fears.” Mark Douglas
BITFINEX:BTCUSD
by AzizKhanZamani
21
HEXO Bullish Divergence| Seller Exhaustion| Local Resistance Hello Traders! Today’s chart update will be on HEXO CORP where we have a probable bullish divergence forming on the daily. Local resistance is a key level to break to show first signs of a possible trend change. Points to consider, - Clear bear trend intact - Bullish divergence forming - Local resistance to break - Stochastics in upper regions - RSI respecting trend - Volume below average HEXO’s current trend is bearish with consecutive lower highs in place, this current bullish divergence signals potential seller exhaustion on the daily. Local resistance needs to break; this will further bring the bullish divergence to fruition as the trend attempts to put in a higher low. The stochastics is trading in the lower regions, can stay here for an extended period of time, however lots of stored momentum to the upside. RSI is currently diverging from price by putting in higher lows whilst HEXO puts in consecutive lower lows, confirming a valid bullish divergence . The current volume is well below average, it must increase when local resistance is broken to avoid the chances of a false break. Overall, in my opinion, HEXO’s bullish divergence is the first sign of a potential trend reversal from such lows. Local resistance is the first key technical level to breach then structural resistance in order to change the current market structure. What are your thoughts? Please leave a like and comment, And remember, “Environmental distractions and boredom cause a lack of focus – All of us have limits to our attention span and these are easily taxed during quiet times in the market.” Brett Steenbarger
HLong
by AzizKhanZamani
2
A Significant Support on EUR/USD Failed 💣Support on EUR/USD got breached Let’s first start with looking at a Daily chart of EUR/USD. There has been a pretty significant development! Significant support (from Daily time frame) got breached and now it seems that lower prices (below this support) are being accepted. This would mean that this support will become a resistance. Currently, it is still a bit fresh, but if EUR/USD really closes this week below this support (which it already breached), then it will be a strong signal that a new resistance got formed and that strong sellers are taking over. Check out the picture to see what I have in mind. It is a Daily EUR/USD chart... As you can see from the picture above, there were many strong rejections of this support in the past. I marked them in the chart. Yesterday, the Daily candle closed below all those rejections and today’s current development gives a chance that today’s daily candle will close even lower, confirming that the support became a resistance. Let’s have a look at a lower time frame It seems that we have a strong resistance zone, but where EXACTLY to enter a short trade? In situation like this I often switch to lower time frames, preferably a 30 Minute time frame. Then I use the Volume Profile and I look for significant volume area to go short from. In this particular case, the zoomed-in situation around the new daily resistance looks like this (30 minute chart, EUR/USD) Bingo! Now we have an exact level (1.0999) from which we can go short from! We can go short with an intraday quick trade as well as with more long-term swing trade!
by Trader_Dale