I am no expert in the donchian channel, but it is quite obvious how the trend changed when we saw hammers, dojis and shooting stars, at the top or at the bottom of the channel. I highlighted the most important candles which signaled trend changes. Now we see two shooting stars at the top of the channel, very close to the support line or trendline (im not sure what...
American Express has entered a consolidation period after a double top, with a big bearish divergence on the MACD. A month ago, price closed below the 50ma which acted as strong support in the past, and couldn't get back over it and stay there. If we will see a strong breakout out of the rectangle, then that could indicate the next direction. My guess is that we...
It looks like Apple is finishing the small rally, forming a daily shooting star, after reaching the head and shoulders target. The price went over the 38.2% fib drawn from the high last year, touched the big resistence* area, but retraced closing right at the fib line. Also, we can see in the rsi that the stock is oversold for the first time in the last two years....
Google has formed over the past months a double top formation with a bearish divergence on the MACD. Price closed below the 100ma which acted as good support before, and also under the trendline drawn from november 2012. If it will close below the support line of the double top, we might see a good fall.
This is my first published chart. We can see that today a doji has been formed near the 50ma, and we can expect a reverseal, and an AB=CD formation. Support levels are the 61.8% fib and the 100% fib. The target for the formation is the 161.8% fib. If the day closes like this, depending on the price action tommorow we can enter short. A rally tommorow over 98.600...