GarethSolowayOfficial

GarethSolowayOfficial

Here we are looking at XRP on the Daily TF… Currently, we have broken out of the local downwards sloping channel that we have been trading within the last month or so… This comes after ANOTHER bounce off of the macro support line (yellow) that dates back all the way to March of 2020. Currently, XRP finds itself in a strong local resistance cluster. In order...

GarethSolowayOfficial

Here we are looking at USOIL on the Weekly TF… Currently USOIL finds itself at crucial support, so let’s begin by analyzing where its currently at, and why this zone is relevant. As you can see the horizontal yellow line represents current support. This line began as strong resistance back in April of 2019, and flipped to macro support in May of 2021, and has...

GarethSolowayOfficial

Here we are looking at NVDA on the Daily TF… As we try to figure out what NVDA will do next, one thing is very clear when looking at its chart: NVDA is currently trading in a very strong resistance zone. Currently, NVDA is testing two resistance lines: 1. The Upwards sloping trend line which dates back to July of 2021 2. Horizontal resistance which is a gap...

GarethSolowayOfficial

Here we are looking at BTCUSD on the 6hr TF… With the higher highs and lower lows that BTC has been putting in, I was able to find this potential reversal diamond pattern in the chart. If this structure is valid, there is still plenty of room left for chop in the coming weeks before a stronger move. For those of you who don’t know, reversal diamonds have a...

GarethSolowayOfficial

Here we are looking at FSLR on the 1 Month TF… While I don’t normally post ideas from this zoomed out on the chart, I thought I would briefly share this fun idea that I came across. As you can see, we are analyzing where FSLR is currently, in reference to it chart history dating back to major support breakdown in 2011. What I found interesting, is that if...

GarethSolowayOfficial

Here we are looking at ETHUSD on the Daily TF… Last week I talked about ETH trading within a rather large symmetrical triangle (as pictured on the chart), and wanted to provide an update on this chart today. Currently, ETH finds itself at the resistance of this chart. As you can see, this is ETH’s third time interacting with this resistance zone. While ETH has...

GarethSolowayOfficial

Here we are looking at BTCUSD on the Daily TF… I would like to offer a brief update on the chart structure of BTC currently, as it has come a long way since last weeks analysis. At the time of my initial post, BTC was still trading within the parallel up sloping channel. Since then, it has broken down (as predicted). Currently, BTC is re-testing the previous...

GarethSolowayOfficial

Here we are looking at ETHUSD on the Daily TF… As you can see, ETH has been trading within a symmetrical triangle since May of 22’, and as time progresses it continues to move closer to the APEX of the structure. The APEX of this triangle isn’t technically until August of 23’, so let’s take a look at where we’re at now. Currently, ETH has gotten rejected...

GarethSolowayOfficial

Here we are looking at SILVER on the Weekly TF… As you can see, SILVER has been trading within a macro symmetrical triangle structure, which has clear and established support and resistance lines. Silver has been trading within this structure since March of 2020 (COVID—19 Crash). Since then, it has tested descending resistance 5 times on the weekly, and...

GarethSolowayOfficial

Here we are looking at BTCUSD Daily on the Daily TF… Last week we talked about Bitcoin trading within this ascending channel, and how this formation was a bearish structure. At the time of my initial post, I said to expect BTC to test support, and ultimately shared my belief that BTC would break through the ascending channel support. Currently, BTC has broken...

GarethSolowayOfficial

Here we are looking at Daily on the Daily TF… We’ll keep this idea brief as it’s pretty simple in its nature. SILVER has seemingly began to bounce from its local support that it formed back in November of 2022. If SILVER can hold this support and continue bounce from here, we can expect further upside to follow… I will continue to update this chart as there are...

GarethSolowayOfficial

Here we are looking at SPX on the Daily TF... This chart shows that the S&P 500 would have to fall about 23% just to get back to the long-term trend support. Based on calculations, this is likely a target for the second half of 2023... In addition, smart money knows that if something remains above trend for a long period of time, it will likely move below trend...

GarethSolowayOfficial

Here we are looking at GDX on the Daily TF… This analysis will be fairly brief, as the chart is crystal clear as of right now. Here you can see that GDX has retraced since its most recent uptrend which began in November of 2022. Currently, I am expect GDX to bounce off of the strong technical support as marked by the horizontal line (yellow). This outlined...

GarethSolowayOfficial

Here we are looking at BTCUSD on the Daily TF… As you can see, there is an ascending channel that Bitcoin has been trading within since late January of this year. Currently, Bitcoin is trying to break through the $25,000 resistance zone, but has been shot back down each of its attempts to break to the upside. So what may we expect next for Bitcoin? If...

GarethSolowayOfficial

Here we are looking at FSLR on the Daily TF… As you can see, FSLR has been trading within an ascending parallel channel, with clear upwards sloping support and resistance. It has been trading within this rising channel since October of 2022, but I am expecting a breakdown from this structure in the coming days. Ascending channels (as such) are bearish in their...

GarethSolowayOfficial

Here we are looking at the Q’s on the Daily TF… As you can see, we will be analyzing QQQ’s breakout from its macro downwards sloping resistance which dates back to January of 2022. After a full year of being rejected from this downwards sloping resistance, QQQ broke out in January of 2023. What should we expect now? As marked by the horizontal (yellow) line,...

GarethSolowayOfficial

Here we are looking at XRPUSD on the 2hr time frame… Today we will zoom in on XRP, and analyze the break from its recent rally in which it pumped 45% in just three and a half weeks. As you can see, throughout this rally XRP had a strong ascending line of support (yellow), which it continuously bounced from, thus continuing the uptrend. It wasn’t until January...

GarethSolowayOfficial

Here we are looking at ADAUSD on the 4hr time frame… In trying to determine what Cardano will do next, let’s take a look at its current price levels. Since January first, Cardano has rallied with the rest of the market. In just the last 5 weeks, Cardano has rallied just under 70%! The question we must analyze in the short term is where this rally will run into...