benedekdomotor

benedekdomotor Feb 26, 2024

The Russel 2000 has been in a steady range between 162 and 200 since January 2022 – more than two years now. The current situation presents some bullish signals. This is the 6th time it's touching the upper side of the range. Generally, more touches on one side of a channel increase the likelihood of a breakout in that direction. Additionally, a substantial cup...

benedekdomotor Feb 25, 2024

Market: The overall market has been riding high, but we are approaching overbought territory, raising concerns about a correction. Specifics on PYPL: On the weekly chart, a big falling wedge pattern has formed, typically a bullish signal. However, PYPL's struggle to break out on January 22 and the fundamental challenges, including decreasing margins add layers of...

benedekdomotor Feb 4, 2024

I am back! It's been more than a year since I posted on Tradingview. Now, I am back with a slightly different strategy. Most of the ideas I post, won't solely be justified on the technical look, but technical and fundamental outlook. In each case, I will mark whether it ticks one or both boxes. As you can see, the first idea is Target, which was beaten down...

benedekdomotor Oct 4, 2022

BTCUSD chart is currently controversial. There are both bullish and bearish signs. Let's take them one by one and analyze them. I hope this will help you to make a decision. On the bearish side, we have a "Head and Shoulders" pattern (fu@&ed-up). Low-volume green candles. On the other side, we have a rising RSI with plenty of room for growth. Price is sitting at...

benedekdomotor Oct 4, 2022

The WMT has just touched its daily resistance for the fourth time. Stocks tend to break out shortly after the fourth time. The fact that the graph shows a "bull flag" strengthens my previous statement. In addition, the MACD has-had a weak bearish momentum, while the broader market had a big bearish momentum. However, the RSI continues to show a downward...

benedekdomotor Oct 3, 2022

IWM gives us mixed signals. It gives both bearish and bullish signals, which can be disturbing, but I have a strategy for that too... But first let's analyse the chart. A symmetrical triangle is forming after a huge seloff. Meanwhile, the weekly S2 pivot point (165.77) and the POC (168.51) are squeezing the price into a tighter range. The tighter it squeezes, the...

benedekdomotor Oct 2, 2022

Although the latest weekly candle looks very bearish, I think we are about to see a turnaround. At least sooner or later... The reason for my assumption is the following; The entire market (including APPLE) is oversold on the daily chart. VAH and the S1 weekly Pivot point is below us (135.25), which provides strong support. It is important to note that we need...

benedekdomotor Sep 29, 2022

Several signs point to a short-term reversal in the overall market. For AMZN, this could end up as a "Dead cat bounce" that completes the "Head and Shoulders" pattern. Breaking above 121.91 and then not holding it would confirm the action. However, if we could reach a higher low around 121.91, the chart would turn slightly bullish. In this case, the first price...

benedekdomotor Sep 29, 2022

A 'Bull Flag' is shown on the daily chart. It makes you wonder whether a turn is coming in the crypro sector or a continuation to the downside. One way or another, we will find out in the coming days. From technical viewpoint, if we can hold the 1309.14 level and break above the 23.6% (1411.09) Fib level, a breakout is possible. Support: 1309.14,...

benedekdomotor Sep 28, 2022

We are almost in the same situation as in my last shared idea (ETSY). A bullish pattern in a bearish environment. To be exact: two bullish patterns. A "Falling wedge" and an inverse "Head and Shoulders". You may be wondering why is the "Head and Shoulders" still relevant. Well, the price failed to break the neckline, so the pattern is still in play. We also have...

benedekdomotor Sep 28, 2022

The problem with a bullish pattern in a bearish environment is that even if it is a textbook pattern, it can easily be destroyed. Etsy paints us a textbook "Bull Flag" on the daily chart, but... We have a few problems. Firstly, today's green candle is extremely low volume. Second, there is a strong resistance above (101.92). Third, the RSI is still tanking. On...

benedekdomotor Sep 26, 2022

There are many ways to answer this question, but I will approach it from the side of trading on chart patterns. You can see the weekly chart of TSLA (Tesla Inc.) in front of you. If you know anything about chart patterns, you will have spotted the "Symmetric Triangle" by now. In a downtrend it is a bearish pattern, and in an uptrend it is a bullish signal. We are...

benedekdomotor Sep 26, 2022

Although the overall picture is bearish (Head and Shoulders pattern not finished), I expect a small relief rally. It is because we seem to be a bit overextended on the daily graph. The RSI is oversold, and MACD is showing regular divergence. The two possible scenarios are shown on the chart. Pivot points have been a good indicators over the last few sessions, so...

benedekdomotor Sep 26, 2022

Our AbbVie is trying to break out of the "Falling Wedge" pattern but is having a hard time. Despite the pattern resistance being broken, momentum is weakening (MACD). In addition, the volume is nearly average. It is the opposite of what we want to see when we expect a breakout from a 222-day pattern. It is probably due to bearish market sentiment. Given the...

benedekdomotor Sep 25, 2022

There is a huge "Head and Shoulders" pattern on the weekly chart. The pattern is bearish in itself, but less so when some other facts are taken into account. RSI is oversold on the daily chart and almost on the weekly chart. It means that downward space is limited. A downward breakout would result in a false breakout. In addition, there was a huge volume pullback...

benedekdomotor Sep 25, 2022

The weekly chart shows a nasty "Bullish flag". Even though this pattern is bullish, there are bearish signs to consider. Take the S1 Weekly Pivot as our first example. It was acting as a support, but now it is acting as a resistance, as the price has broken through (and managed to stay below) with high volume. The RSI is still falling and has plenty of room to...

benedekdomotor Sep 23, 2022

There is an emerging "Falling Wedge" pattern on the weekly chart. Several additional signs suggest that a reversal is coming. While the price is at lower lows, the MACD indicator shows higher lows. This phenomenon is called regular divergence, and it is bullish. Another bullish sign is that the RSI is oversold on the daily chart and almost oversold on the weekly...

benedekdomotor Sep 18, 2022

The daily chart shows two "head and shoulders" patterns. They both tell different stories because they point in opposite directions. The larger one (inverted) is bullish, while the smaller one, which is also slightly hidden, is bearish. Whatever the case, the price is getting squeezed into a smaller space, so the breakout will be powerful. Resistance: 10.165,...