I know a lot of traders who are in the SQQQ banking on the idea that its on its way to retrace it's gigantic historical prices. I trade by patterns. Sometimes they work, sometimes they fail, for me they succeed more times than fail. What I see in the SQQQ is a rising wedge pattern. Rewind the clock 20 years ago and I would be chasing this breakout with the rest of...
There's a lot of bullish wedges out there. Mana is at the fork in the road. I believe this is ready to break out and move higher.
Amazon patterns next level of resistance appears to be 2800
Falling wedge fork in the road MACD Cross over Bitcoin moving higher will likely be a tailwind to push this higher
All I have to say is get out of the way. The bull is furious and about to rage.
I was a bear until I noticed the MACD crossover. This wedge typically ends in a free fall, however the time it has taken to happen is longer than what I believe should be. A fork in the road and MACD is my clue to take a long position here.
I rarely play the bounce unless the parameters meet the following: Double bottom on down trending support line Opinion: SPY Short term buy signal
NASDAQ Falling wedge Double Bottom Lower channel Opinion: Bullish short term buy within a bear market. Looking for a move up from here to the 12,700 - 13,000 area.
Rising wedge (Bearish) within a downward broadening wedge (Bearish).
Breaking away from a falling wedge with BTC tailwind in play.
Still channeling. Up we go. Crypto's seeing a good lift here as well.
POTETIAL BITCOIN FAKE BREAKOUT 4 hour bar price up against 200DMA
S&P500 BEARISH RISING WEDGE. (SPY) Be ready for a potential sell off this week