benactonbond

benactonbond

Retracement to blue support shows a very likely continuation of the previous upward trend. Volatility shrinking as price converges signals upcoming burst. An upward breakout would signal strong market intention.

benactonbond

GIven the low volume on breakout we could see a retracement down to around 18k, so I placed the stop loss there. The surge could potentially finish at 23.7k, but a take profit at 23k is more than enough.

benactonbond

Ehereum has reached its target for the previous pattern and taking profit pressure is blocking progess. Once the market consolidates this range of price we could see a continuation pattern shooting the price well above 800.

benactonbond

Nothing fancy being used, just an ascending wedge breakout. 23k is now looking more and more probable. Significant volume is still to be seen, though the previous ascending wedge breakout gathered momentum as the price went up, so we might see a repeat of that.

benactonbond

Very basic ascending wedge pattern makes BTC a buy, although an increase in volume would show a more powerful move.

benactonbond Updated 

Very basic analysis of TSLA reveals a potential short term reversal with target around 200. I would execute if stock drops below 290 in order to to pass the pattern confirmation point and get rid of that strong support line. OBV also seems to have topped, giving in to negative volume days. This analysis obviously doesn't consider news and fundamental data.

benactonbond

The pattern is clearer on the hourly chart, but the target price of about 21k is better seen on the daily. Volume should pick up in order to consolidate the breakout.

benactonbond

Coming up back up with decent volume in the past 2 hours. Volatility is squeezing, waiting for a breakout. Let me know what you think.

benactonbond

Violent correction from 16600 can be explained by simple take profit selloff. Expect to see the start of a new trend with Bollinger Band explosion. OBV is looking solid too, so wouldn't worry about trend reversal.

benactonbond

Got out of the market after distribution days on the SPY. Will get back in once the situation is stable again.

benactonbond

Following Bill O'Neil's Can Slim momentum investment method, one way to identify market tops is to track distribution days (0.2% drop and increased volume signals institutional selloffs). More than 4 distribution days in the span of 2 to 3 weeks is a potential market top.

benactonbond Updated 

Converging Bollinger Bands and a rising wedge is a potential buy at breakout. We might se a repeat of the gaps in early August.

benactonbond

A couple of weeks of vigorous growth, couple with a strong SP500 confirms this almost 3% drop is nothing to be worried about. The most likely explanation is profit taking and it coincides with the high volatility tech narrative. Another interesting observation is the movements the QQQ followed before its biggest 1 day drops this year. Both movements precede...

benactonbond

I'm worried this will happen again.... Please let me know what you think about it....

benactonbond

After today I would confirm that shorting is best now. I wouldn't expect a reversal pattern although it might be possible. So for the next 3 to 4 days I think it's short.