Hello ! Key points : Double bottom Volume on uptrends > volume on downtrends Indecision + rising volume It all starts with the halfway retracement. The stock makes a new low, buying pressure kicks in, drives price up. The halfway retracement is the result of traders taking profits, see how the volume fades ? Anyway, the momentum is not enough to break...
Hello ! Key points: Triple bottom Rejection at support Spike in volume That price rejection actually tells us that people were afraid and panic sold at open, driving the price down until it encountered some buying pressure and price went back up. When gauging this candlestick pattern, it is important that : It is at a support level Occurs after a...
Hello ! I am so excited for the week ahead. Key points : Breakout after consolidation + spike in volume Volume on uptrends is higher than on downtrends First pullback after breakout (61.8% Fibonacci retracement) Holding support despite the fact that the overall market was down on friday Context The interesting thing on this chart, is that before the...
Hello ! Key points : Support : important zone on weekly chart, amplified by breakaway gap, previous resistance on daily chart Pullback 50% Fibonacci Exhaustion gaps coupled with higher trading volume Despite the market drop on friday, it held the support The support is on an important zone on the weekly chart, which explains why the breakaway gap formed....
Hello ! Key points : Resistance broken on high volume and wide range candles Consolidation phase and support hold Huge price rejection on the hourly + high volume Relative strength (compared to today's market conditions) I've left some charting from the previous trade on this analysis, to get a context. On the previous analysis, we said that basically,...
Hello ! Key points : New trend starting after ABCD pattern First pullback occuring on 50% retracement Volume on uptrend is higher than downtrend Consolidation taking place ABCD Pattern This isn't a quite regular ABCD pattern, even though the time between AB and CD is almost equal (or near). What I look for when trading this pattern, is either the...
Hello ! Key points : Triple bottom pattern Rising volume Price rejection ("hammer" formation) on higher volume than previous sessions Rising volume ? On this particular chart, it doesn't seem like the volume is actually rising. This is because the chart shows the data only for the current exchange (Cboe BZX). On my brokers account, I am able to see the...
Hello ! Key points : Triple bottom pattern (laws of mass psychology, in my opinion a very reliable pattern) Support held despite high volume Indecision rises even though overall market turmoil ( relative strength ) Rising volume compared to the previous trading session I usually never wait for the breakout when trading double or triple bottoms. I tend to...
Hello ! Key points : Fading volume : The fact that volume is fading indicates that the pullback is losing momentum, we should see an increase in volume tomorrow compared to today. Interest in stock is rising. The wide range bullish candlesticks shows that bulls are strong and there's actually interest in the stocks (i.e. those that didn't trade have a chance...
Hello ! Key points : Gap down : The stock gaps down probably because of bad news; opens at old support level Panic selling : The bad news and the gap down triggers panic selling which explains the surge in volume The stock finally settles on a previous support area Last selling burst occurs and indecision rises as volume goes back up Through this trade I...
Hello ! Key points : Support on previous gaps (highlighted on the chart) 50% Fibonacci retracement, after starting a new trend, stocks tend to pullback halfway after resuming Fading volume signals the end of the current trend Indecision candlestick ("Doji") signals that indecision rises What's the plan ? From a "daytrader" perspective (that I'm not,...
Hello ! Here we go with another analysis solely based on price action and psychology in the stock market. Key points : Breakout on high volume Previous resistance becomes support Fibonnacci Retracement : 50% Volume rises as demand for the stock increases Basically, what I see here, is an accumulation on a congestion zone. The traders that didn't trade...
Hello, This analysis is only based on price action and psychology in the stock market. Key points : Range of the candles diminishes and volume tapers off as bears drive the price down Volume rises on indecision, bears are not in control anymore Previous support acts now as a resistance area (around 2.75) The initial target is around 2.75 PS : This is...