TechNerdOmar

TechNerdOmar Updated 

The current dead cat bounce in the Euro is impressive but is also an opportunity to open a short position in the EUR/USD pair. Price is getting squeezed between the rising support line drawn from 2000 and the falling resistance from the top of July 2008. Good places to increase the short position gradually is right now at 1.128, then the top of the falling...

TechNerdOmar Updated 

I'm not a fan of the question mark in the title thing, but I really don't know much about Intel's fundamentals to judge such a long term move. What I see here is big RSI divergence between the tops of June 2018 and Jan 2020. And I see a descending 'arch' triangle, more visible on the weekly. It will only take one or two months to see if this triangle holds. Then,...

TechNerdOmar Updated 

A huge ascending triangle on the XRP monthly chart. So far, the bottom side supported two times and the top resisted two times. So we still need to see a third touch on the top as well as one on the bottom so that the triangle establishes itself. And even if we do see those touches, we might never see this triangle break to the upside before September 2021, so...

TechNerdOmar Updated 

The recent oil dead cat bounce that started at the $45 support level has been struggling and has shown obvious weakness, but the bullish momentum is still intact. This is known by the sequential green count of TD indicator. We are now on a green 7 candle; two more green counts to complete a TD sell setup. However, there is major resistance ahead in the $60 to $63...

TechNerdOmar Updated 

Oil is in a bear market and will eventually go back down to $28 a barrel. What we see now is a dead cat bounce that has done better than expected. However, I think it's coming to an end sooner or later. I will first start by identifying key levels. I identified four horizontal lines that solidified through the last decade. These are the $80, $70, $63, and $45...

TechNerdOmar Updated 

Support and Resistance lines: Fibonacci Retracement: When drawn from the highs of 2006 at 180 SAR to the lows of late 2011 at 30 SAR, the 0.382 line falls at 90 SAR and the 0.618 falls at 125 SAR. 90 SAR is a strong line for three major historical resistance/support regions, late 2005, late 2007, and late 2018. 100 SAR is also a weaker level . On the...

TechNerdOmar Updated 

It appears from XRP price action that it is being squeezed into a tight area in between strong support and resistance lines, and that it will break out of this squeeze but it's difficult to predict in which direction. This is known as the squeeze play. However, I analyzed and found more reasons for a bearish move. The bearish case: First let us examine the...

TechNerdOmar Updated 

XRP/BTC is showing a high ascending triangle that raised the price a 130% from 4350 to 10150 satoshis. The chart also show a cup and handle within the triangle. Estimating a target for both patterns differs among analysts but I chose to take the absolute height of the triangle which is around 5050 satoshis. Adding that to the price of the top of the triangle gives...

TechNerdOmar Updated 

This is an update on my previous idea. Please see the link down below. The targets haven't changed, but the stop loss is now at 9150 satoshis. Also, the triangle is updated. It looks much better on the 12-hour chart, but I don't have that feature.

TechNerdOmar

This is a short-term descending triangle on the 4-hour chart of XRP . We have two targets of the descending triangle breakdown: 1) 1316 points reaches 7655 satoshis, or 2) 13% drop reaches 7481 satoshis. We also see recent support at that zone, precisely at 7625 satoshis, from 8 November and 14 November. However, unfortunately, the triangle is not perfect. The...