Consistent_Trades

Consistent_Trades Updated 

Litecoin is facing significant challenges. It had formed a rising wedge, a very bearish pattern, and is now breaking down. It experienced a strong price increase from its lows, but after reaching a resistance block, it lost momentum and is now way overbought. A substantial drop is expected and imminent. The 50-day MA is the last major support level for Litecoin...

Consistent_Trades Updated 

XLF was for some time in a bullish and bearish mode opportunity. There were chances for bulls as it was close to triggering the bullish reversal pattern, the inverted head, and the shoulder, but it failed. On the other side, bears did have their reversal pattern, a rising wedge that was broken yesterday, triggering a sell signal. This is a zone/situation in which...

Consistent_Trades Updated 

This analysis is made in a line chart so it can be more visible where is the potential neckline. Obviously, there is no bear pullback as I wrote in yesterday's analyses because bitcoin rises too much that we could call for Bear Pullback. Analysis from yesterday is not valid at all as the pattern failed. We are forming 2 very strong patterns. One is ultra bullish...

Consistent_Trades Updated 

After breaking down through a rising wedge pattern on the 4-hour, daily, and weekly charts, it is almost certain that the S&P 500 is heading down hard. Therefore, I have created a possible wave structure based on the most important data in the last 14 months, including Powell's testimony and speech, CPI data, and FOMC meeting/rate decision time. Inflation is still...

Consistent_Trades

Bitcoin broke the support line and fell down towards BigRed where it had found support. Now did a nice pullback but will almost certainly find huge resistance at this level which will be hard to break in these circumstances. The area of resistance where is the blue trend line, 50 days MA, and 0.618 FIB retracement is just the perfect area for bitcoin to stop and...

Consistent_Trades Updated 

As I mentioned in the last report, JPM is a weak stock, and the trajectory is against bulls. This rising wedge will break on the downside, and the stock will quickly fall toward 125 and the significant resistance level AKA BigRed. There is just not enough energy and buyers to keep this stock so high. It's game over for now. I'll give it a sell signal even though...

Consistent_Trades

QQQ's daily chart shows that it is currently in a symmetrical triangle formation within a larger symmetrical triangle. As the price is reaching the end of the symmetrical triangle, a breakout is imminent, which will likely be confirmed by higher volume. The current price is below the 20-day moving average, which is bearish, but it is still above the 50 and...

Consistent_Trades Updated 

XRP is in symmetrical tringle for some longer period o time. The upper and downtrend lines represent perfect resistance and support for now. Price is moving from resistance to support and back. But in the last 2 weeks, the thing has changed a little bit and the price has had a problem with testing support and is above Bigred aka 200 days MA for some time which...

Consistent_Trades Updated 

DJIA has found support at the BigRed level, just as I analyzed in the last report. It bounced back strongly and nicely and is now close to a resistance area. We will have to wait and see what it does next, but for now, it seems more likely to experience a bear pullback than a bullish pattern. Volume does not confirm the price action, as it hasn't moved above 20...

Consistent_Trades

During this meltdown that began in 2022, I have heard many traders discussing the market, conspiracy theories, how predictable it is, how this or how that, and how they can predict what will happen next. However, it is essential to remember certain truths that can help traders achieve consistent profits when it comes to trading. Therefore, I would like to...

Consistent_Trades

NVDA is in a rising wedge, a very bearish pattern if a break occurs. After such a strong rise it is time to cool down and correct it. How far we will see, but BigRed should act as a major support line. At the end of this pump, NVDA formed a bearish reversal candle shooting star. It can not be more bearish than it is. Volume is falling after this huge exhaustion...

Consistent_Trades Updated 

SNAP has had a nice pullback after earnings, and now it is low basing on the 50-day MA and at the 0.618 FIB retracement and $10 even dollar amount, which acts as a magnet line. It is unbelievable how these areas of support or resistance are valid if we draw or mark them correctly. SNAP will have to decide if this is a bull pullback or if, after a low base...

Consistent_Trades Updated 

The SPY dropped strongly from its high but found support at a major level where there is a Big Red AKA 200-day moving average, a rising trendline, and the Fibonacci retracement level of 0.618 from the lows (December) to the high (February). This level of support is amazing and very strong for now. As I mentioned in the weekend edition (check below), the SPY found...

Consistent_Trades

On the weekly chart, BABA is currently forming a bullish reversal pattern known as an inverted head and shoulders. However, it is also at a critical support level that needs to hold if the bulls want to continue the uptrend. The $85-$89 range has been a strong support and resistance area in the past and needs to act as support now to propel BABA higher. On the...

Consistent_Trades

The SPY weekly chart was in a rising wedge which was broken this week after the bad inflation report and when reality did start to kick in. This indicates that the SPY will likely continue to move down, and possibly sharply. The first major support level could be the green line, the 20-week MA, but it is not likely to hold strongly. The major support level on the...

Consistent_Trades

AAPL has been holding at this level for weeks, despite having had horrible financial results. The reason behind this is retail mama and papa traders who are buying because they hope for a pivot or a soft landing. The reality is completely different, as shown in the recent inflation report which indicates that the Fed will move rates above 5.5-6%, which will hurt...

Consistent_Trades

TSLA had a nice oversold bounce as I predicted in the first analysis. However, TSLA surprised me as my target was 150-160, but the FOMO and HYPE around TSLA are obvious, similar to that around crypto. There is mania with no specific reason in both buying or selling activity. The bounce went to the 0.5 FIB retracement, which is usually the place for bounces to go....

Consistent_Trades

ORCL is currently in a nice bull flag pattern, from which a break could lead to a nice and explosive bullish move. A break above the blue trend line and the blue dotted line would trigger a nice bullish long position with a target of around $95 or more. However, for this to happen, it will require a significant volume. The recent price action is confirmed by the...