TheSnowballEffect

TheSnowballEffect

I think it is forming a triangle (in my opinion) and will consolidate that way before making another decision up or down.

TheSnowballEffect Updated 

up or down? big volatility coming!

TheSnowballEffect Updated 

Price is completing the retest of the break of a major support line on the D1 timeframe. Right now price is showing strength on the H1 by breaking a triangle consolidation to the upside! We also have a clear RSI divergence from the last 2 bottoms. :)

TheSnowballEffect Updated 

:) We can see a clear triangle break to the downside. Price is now retesting that key level and will most likely reject it for a move to the larger timeframe trendline! Then we might see a bounce off that more important trendline up long term.

TheSnowballEffect

break and retest of clear trendline

TheSnowballEffect Updated 

- Price way overextended to the upside on the daily timeframe (just like Tesla btw) - Price retesting top trendline multiple times and rejecting it. - CLEAR divergence from the RSI in relation to price action - On a shorter timeframe, it is forming a triangle and let's see where it breaks:

TheSnowballEffect

Looking for price to reach next support level

TheSnowballEffect

Looking for a bounce off a major trend line. price slowing it's decent, indicating weakness from the bears. May manipulate this level because of multiple touches already. May break and retest too.

TheSnowballEffect

:)

TheSnowballEffect

Touch from key resistance line Overbought

TheSnowballEffect Updated 

+ RSI divergence from last 2 tops

TheSnowballEffect Updated 

Overextension to the downside reaching key level. The RSI is also forming a downwards channel, and will likely be breaking it to the upside.

TheSnowballEffect

Why is RSI going down? because price is not directly correlated to the overall strength of the market... so sell. simple You don't even need half a brain to understand this.. there are no tricks, people are just in a crazy buying frenzy (euphoria) and when this thing goes down, the exact opposite will happen (fear).

TheSnowballEffect

looking for price to bounce down here for a small scalp type trade on the 1H.

TheSnowballEffect Updated 

Multitimeframe analysis. on the higher timeframe price has reached the key resistance line (in red). On a medium timeframe, there is an RSI divergence off the last double top that has formed. On the shortest timeframe (15 and 1H) price has broken the upwards trendline. I will be entering with a bigger position than usual on the retest of the short term trend line...

TheSnowballEffect Updated 

expecting a bull run to next level of resistance.

TheSnowballEffect

Will be looking for opportunities either ways :)

TheSnowballEffect Updated 

simple..