At the moment the big question is whether the market is taking a breather, and will continue to go up? Or is it topping out and will we have a correction to the downside soon?
I can find a arguments for both, so I think we need to just sit on our hands and wait till the market unveil their intensions.
S&P 500 (ES mini future):
Sofar the market action is...
Sentiment: Short term Bearish - sideways
This week (week 30) there will be an MRI sell on PYPL indicating the probability of an 1 to 4 week correction.
As you can see on the chart last week's candle was a very strong up engulfing candle so it has yet to be seen if we can get the correction or not. For me it all depends on the candle we will print this...
Sentiment: Bullish - sideways
This week (week 30) there will be an MRI sell on ADBE indicating the probability of an 1 to 4 week correction.
As you can see on the chart last week's candle was a very strong up candle so it has yet to be seen if we can get the correction or not. For me it all depends on the candle we will print this week.
Especially having the MAs...
Sentiment:
SP500: Bullish
NASDAQ: Bullish/Neutral
Dow: Bullish/Neutral
Russell: Neutral/Bearish
I make these market outlooks more for myself than for anyone else to have some kind of history of my thoughts prior to the fact. They are in no way trading advice, but should be treated as my views on the market.
ES mini
Weekly chart analysis
My...
We are at an interesting point for the price of bitcoin. As you can see on the chart above there are many patterns that can be drawn on the 4H chart.
As of the time time of this writing we broke down the lower boundary of the parallel upwards channel and if we close below it at 12pm utc my best guess is that we start trading in yet another, albeit higher,...
Although I'm longtime bearish on alts, I need to keep my eye open to things developing on the charts.
And looking on the charts of ETHBTC it looks as if a classical 5 wave up is forming.
Wave 1 completed and wave 2 gave us a nice 0.382 reversal with a peak to 0.5 (Take note that I reversed the fib to get the target of the next move up)
Breaking the close of the...
As can be seen on the chart above a head and shoulders pattern might be forming in the gold futures daily chart.
It is not a very clean pattern which makes it less reliable.
If the neck line is broken, the target will be a price drop equal to the distance from Head till neck line, which would bring us to around 1430.
Disclaimer:
This is just an idea of what might...
After almost 3 months, 90 days to be precise, this week XBTUSD finally broke through the bottom of the descending triangle it has been in since June. And it did so rather violently.
It is now discussed if the bottom has been reached, or if there is more room to the downside.
I have bad news for you. According to traditional TA, the price target of a break down of...
For about three month now the S&P 500 is struggling with the 3000 level.
During this period an ascending triangle was formed, as you can see on the chart above.
Most of the times these triangles will break to the upside and when they do the price target will be a move equal to the height of the triangle. In this case around 300 points.
Of course there is also a...
As can be seen from the chart and more specifically the ADX and DI indicator ETH/USD is currently ranging.
This is not an easy trading environment, but positions can be taken long at the bottom of the range between $165 and $167.
At the top of the range shorts shall obviously be taken, between $186.50 and $183.
Be aware that there are some intermediate S/R levels...
As can be seen from this chart BITMEX:ETHUSD just bounced off the lower resistance of the descending parallel channel.
Prior to this it bounced off of the upper support of this channel and was not able to return to 100 EMA, which is signalling weakness.
Therefore I remain bearish for BITMEX:ETHUSD and will have a very close eye on the upcoming long term...
From this chart it seems that ETH/BTC on Bitmex might go up to test the 50 EMA.
This might be a highly speculative long, with tight stop below the green line and not for the faint at heart.
Disclaimer:
This is just my view on the market. Don't make this your only source of information for your trading decisions.
Do your own research. If you don't do that I...
BITMEX:XBTUSD
As can be seen on this image currently we have 2 ascending triangles on the daily bitcoin chart. In my opinion this means that even if the inner triangle break there is a good possibility that the outer triangle will still hold as support, but it is only a matter of time.
Therefore I expect a break down of the inner triangle rather soon, which...
