SRM/USDT - Large Resistance - Rising Widening WedgeHello everyone, analyzed the SRM/USDT pair
I would like to note that the coin gave a large profit on the weekly timeframe.
Now you can see the big player's blocks for sale. These blocks coincide with the resistance on the ascending triangle.
A position should be opened only when there is a true exit of the price from these patterns. There is a possibility that the correction will continue. Be reasonable, trade only with position confirmation.
On the trading chart, the levels of the Festival coincide with the levels of support and resistance. You don't need to invent anything. The price from the triangle will indicate the direction for medium-term trading.
Buyer's zones:
first block 0.51-0.63 $
second block: $ 3.96-4.49
Seller Blocks Now: 6.15-6.89 $
"This is just my opinion, trade with your trading system
Have a nice day and come back again."
Go to my free channel and chat with other traders. Link in the description
Wideningchannel
SPY In-Depth Fundamental and Technical Analysis This is simply an analysis, not an invitation to go short or long, please do your own research
As you can see besides the technical analysis indicating a possible fall for SPY, we have also many fundamentals which pushes me to say that there is a decent probability we can see SPY go down to support before either going back up to top channel, or completing the ascending channel and going below the bottom channel, which at that point a recession is very likely. This will depend on the election results mainly in my opinion.
We can't forget about the fact that half a year ago we saw the dividend yield reversal, which has been a great indicator for recessions (Which I don't see happening right now). The current market is driven purely by greed. Pretty much everything is trading at values that are much higher than they are supposed to be.
Political uncertainty in the US is also very important to remember, we have elections coming up soon and besides that we also have massive proposals from candidates like Bernie Sanders which are proposing a massive reform to the economy. The DNC and the censuses will be big players in helping us trace market movements as they have in the past.
An economic slowdown is still not yet obvious, consumer spending has been doing great for the last couple of years and companies are releasing great reports and earnings, but that doesn't mean that SPY is correctly priced today, I find a price correction likely.
No one can predict with certainty where the market will be in a year or two, which is why I need to repeat that this is not a signal or any sort, but purely what is currently happening in the market.
If you have a different opinion or if you believe I got something wrong feel free to leave a comment.
Follow me for more related conten
Waves Accumulation ChannelHi friends! Welcome to waves update analysis, among the few coins with huge announcements and had been among the top 5 in volume since it moved first week of December.
Waves recently caught my attention printing a very interesting widening mouth pattern that could drive waves higher. Its currently sitting on its 12 EMA with a very nice doji candle close with confluence on a trend support. A bounce at this level will trigger a 2X move. A hidden bullish divergence also supports this price action.
5 waves on a widening mouth channel is a springboard for a big bullish move. It is currently on its 4th wave in the channel. If it does completes the 5 waves on the channel, waves will likely print new highs after a correction.
This is just a guide, not a trading advise.
Hit like and follow for more chart updates!
Thanks
-Your Bullish Poop Trader
USDCAD : Next Breakout Candidate, Be Ready !Here is our next breakout candidate USDCAD, no change in our plans. We are going to do the same way we nailed EURUSD. Wait patiently for the breakout, yes thats frustrating time then enter the Breakout direction & bag the pips :)
Happy Trading !
