Damako

Damako

There is always a reason why there are always gaps. Following 5-0 pattern for opening short position, will have to wait for the D leg to complete to avoid losses. As price approaching 200 MA, 200 MA will serve as strong resistance, even if it breaks 50 MA There is no specific point to take profit on 5-0 pattern.

Damako

Forming this wedge will fill the gap below. Reaching 425 and 430 level is possible, before breakdown.

Damako

This super extended momentum from 2009 low has the potential to reach 5,000 levels. From 1990 to 2009, there were two major corrections ranging from 50 to 60 percent from its high. And from 2009 to 2020 and up to the present, there have been about 10 to 35 percent correction to form this impulsive wave. Assuming the SPX500 will reach 5,000 levels or 650 percent...

Damako

The 161.80% of Bat Pattern is hit, and possible to hit the 261.80% of it. Creating Elliot impulsive wave. If break down the PRZ LINE which is 88.60% of XA, impulsive wave is invalid. "TA is just a probabilistic analysis- not certainty. Everything is possible. The analysis just points to what is likely probable. TA is not 100% correct." - George Tan * 100%...

Damako

Looking for PYPL to go up and down to bounce again at 200 EMA like what it did last March 2020, but will not break the all Time High because of 20MA and 50EMA is sharply pointing down to 200EMA. Entry: 174.00 or when bounce at 200EMA SL: 61.8% of Fibonacci Retracement from March 2020 to ATH TP 1: 23.60% to 38.20% TP 2: 38.20% to 50% *

Damako

So, BOEING you're crazy about where you really want to go, there's a gap up, there's a gap down, then it comes back inside the pattern. your price range is getting smaller and smaller. what now? Where are you really going? Maybe its jockey was happy to play the price. LOL! *

Damako

This flag pattern should break the initial resistance, which is previews support level. And make an impulsive wave or pattern in lower time frame to reach the top of the flag. We can also see the volume went up slightly. Maybe this flag will last until next week or the whole month of December due to its wide price range. If failed to break the top of the flag,...

Damako Updated 

I can say now, the pennant pattern is invalid, because it broke the violet line that would have served as support for the pattern. But, now it is forming a new bullish pattern. The Bull Flag Pattern, bullish flag is also an extension/continuation of the existing trend. Even though flags suggest a continuation of the current trend, it is prudent to wait for the...

Damako

While the DXY gradually climbs into small range. I think it will fall sharp. "TA is just a probabilistic analysis- not certainty. Everything is possible. The analysis just points to what is likely probable. TA is not 100% correct." - George Tan

Damako

The first shark and 5-0 pattern is shown. Taking profit at 38.2% and 50% of BC is bellow. ..and for new trades, at this point, I'm looking to break the 50% of BC and go further between 50%-61.8% or more before place a short position, and if only retrace at 50% of BC , 38.2% is my entry point, TP is on PRZ 88.6% - 02B and SL at 50% - BC . PRZ box is the...

Damako

1st TP - 38.2% of BC 2nd TP - 50% of BC Short position may entry at 50% of BC "TA is just a probabilistic analysis- not certainty. Everything is possible. The analysis just points to what is likely probable. TA is not 100% correct." - George Tan

Damako

Hello Traders, from 3 days sell off of TSLA it will test the new resistance (violet box) and will go down to fill the gap. I posted a Potential Reversal Zone (PRZ) of TSLA to fine where it is possible to go up again. "TA is just a probabilistic analysis- not certainty. Everything is possible. The analysis just points to what is likely probable. TA is not 100%...

Damako

Bitcoin Uptrend is still intact, but the volume is decreasing. I'm not the only one who sees it. and even with other indicators there is also a bearish divergence to be seen, like RSI and MACD. however bitcoin is still on Upside trend, but we must not only look at the upside trend, we must also look at its possibility in the downside trend. "TA is just a...

Damako

EURGBP will break another resistance the 100% of Fibonacci extension. "TA is just a probabilistic analysis- not certainty. Everything is possible. The analysis just points to what is likely probable. TA is not 100% correct." - George Tan

Damako

The support level became resistant, and TSLA bounced right on the support line. But, Even holding on to Pennant’s support line, there is a possibility that it will break down due to two consecutive sharp falls in price. "TA is just a probabilistic analysis- not certainty. Everything is possible. The analysis just points to what is likely probable. TA is not 100%...

Damako

Sooner or later DXY will fall today or Monday. "TA is just a probabilistic analysis- not certainty. Everything is possible. The analysis just points to what is likely probable. TA is not 100% correct." - George Tan

Damako

This Bull Flag is targeting the 141.40% of Fibonacci extension base on the Flag pole. "TA is just a probabilistic analysis- not certainty. Everything is possible. The analysis just points to what is likely probable. TA is not 100% correct." - George Tan

Damako

Even if the USDJPY is on an uptrend on weekly chart, this pennants pattern that has been formed is probably a continuation of the decline, as there is a sharp fall in price. Pennants are continuation patterns in which a large movement in the stock’s prices is observed after which there is a consolidation phase and then the continuation of decline. 141.4% is the...