The NAS100, an index consisting of the 100 largest tech companies on the NASDAQ exchange, bounced off the 0.618 fibonacci retracement line, also known as the Golden Ratio. It seems that the recent tech slump has ended, in the short term. Although it's true that a corona vaccine is bullish for other stocks, it doesn't mean we will stop using tech companies anytime...
USD/JPY broke through it's upper wedge resistance this week, without any indication of stopping soon. Break-outs with a lot of volume like these can be a strong indicator for trend reversals. It looks like we are going from bearish to bullish. Consider resistance 1 and 2 as possibilities for reversal, thus exiting you position around that area.
NZD/JPY has been very bullish last few days. With great bullish action comes also the risk of reversal. For the past few months the RSI and the red resistance area (currently a support area) have been working together in signalling an upcoming reversal. Since NZD/JPY is very overbought & above the area of resistance, I think it would be a good idea to bet on a...
GBP/CAD just failed to push through the upper trend line of the wedge. Together with this reversal, we've spotted a bearish divergence on the RSI. The two signals working together make this reversal more likely to succeed. Consider the green area to exit your short, since the price is likely to bounce off the lower trend line again.
LINK/BTC is steadily increasing along the upward sloping trend line. In my earlier post I argued that this trend line could again be the bullish signal you have been waiting for. It seems we don't have to wait any longer! Consider Resistance 1 and Resistance 2 as your profit targets. In case the price breaks below the Support line, beware of a shift in trend...
At the moment BNB/BTC is consolidating around 18k sat. We might soon see a reversal happening: a bounce from the lower trend line of its wedge. The wedge has been holding strong for over a year now, will it continue to hold? Before entering the trade, make sure that the reversal is actually confirmed. If a daily candle manages to close above 19.5k sat, we might...
EUR/GBP broke through it's multi month wedge, on the downside. Wait for the price to break the first support before entering as it might reverse there. As soon as the 4H candle closes below Support 1, consider entering your short. The target should lie around Support 2, since it's an area of great buying pressure.
CHF/JPY appears to be following the wedge it's been inside since early July. In my earlier post I argued that the price could follow this wedge another time, it seems its doing just that! Consider the green marked area as a strong support, a good place to exit your short.
Since the start of the month Bitcoin's price is following an ascending wedge, which is a classical bullish pattern. With the recent influx of volatillity in the markets, the price of Bitcoin might follow this wedge for a short consolidating phase. When the price breaks this wedge, prepare for a strong bullish run towards 17k+.
GBP/JPY bounced off the lower trend line, staying within it's channel. Assuming it will bounce back and forth, consider the red marked area for a potential exit of your long position. Follow the trend!
EUR/NZD has exited the wedge where it has been inside for all of 2020. If today's volatility will remain, expect the price to drop even further. Support 1 and Support 2 are great areas for short- and long-term targets.
We've all seen the massive bullish movements of the markets today. And luckily for us, volatility means new chances. In my previous post I argued that the SP500 was prone for a correction, especially after the massive rally it had since the election. Little did I know about today: a corona vaccin. Currently the SP500 is above the (logarithmic) trendline that it...
DOGE is a particular coin. Nothing really happens until it shoots up, often with more than 300% increases. The area around 20 sat (green) is considered a major area of resistance wich also functions as a trampoline, sending the price to the moon. Luckily for us, we are currently in this "trampoline-area". If DOGE's past is indicative for the future, we could see...
EUR/USD broke through the bull-flag that it's been following since July, signalling new bullish movement ahead. For now, my target is placed at $1.21, the 2017 high. It's the first big resistance that we will face in the coming month. The next target would be the 2018 high, around 1.26, but its too early to call that a possibility. Let's first wait out the coming...
Silver has seen a massive increase in price and volume since March. Together with Gold, Silver is seeing new investor interest with the US election, and the uncertainty that comes with it. The green area on the chart is an area of support which often signals a reversal. Recently the price has exited this green area, indicating a new short-term bullish move. Not...
USD/CAD has entered the area around $1.30, which has been functioning as a strong support area for almost two years now. Every time over the past two years this area has signalled a short term bullish move. Will the same happen again? The green marked area is an area of reversal, proven by past reversals. Consider exiting your position there.
XRP managed to bounce off the upper trend line of its two-month channel, signalling a downwards move. The RSI functions as a second confirmer here, signalling when XRP is either overbought or oversold. Recent history shows that when RSI and the trendline are working in conjunction the price is prone to reverse in the short term. The same has happened in the last...
In my last post I predicted that Link would follow the upward channel. It seems that Link will follow this channel at least one more time: the upper resistance held strong and major selling pressure emerged. Also, the RSI on the 4H chart shows that Link is massively overbought at the moment, signalling a short-term correction. The green area would be a great spot...