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BABA Found Bottom? Reversal Head and Shoulders Play to $210On the weekly chart, $BABA looks like it has found support at $155 and is forming a reverse head and shoulders pattern. I'm looking for one more touch of $155 or slightly lower, followed by a close above the $155 support to start adding a long position. A break above the downward resistance trendline would confirm a bullish break upward and $180 giving us our next big resistance. A close above $180 should send this back to $210.
NYSE:BABALong
by CharlestonTrader
This is FORTH. This project is in its infancy and for the price it is today it is a steal There is a circulating supply of only 8,659,067 with a max supply volume of 14,998,897 If you look at coins with this kind of supply that are successful they usually attain a goal of around $400+ within one to two years of inception This coin could do it in that time frame or sooner because it is already on major exchanges which will give the world access to it. This is off of their website to give a brief explanation of what this coin is: AMPL is a cryptocurrency and financial building-block. Much like Bitcoin, it is algorithmic and uncollateralized. However unlike Bitcoin, AMPL can be used to denominate stable contracts. I truly believe in this coin and at the bottom(thats what i think it is) I will continue buying all the way up to my goal of $400. I currently own AMPLEFORTH check it out and if you like the project and are willing to take the ride jump in with me trade it or hold it and we all make money www.ampleforth.org
Long
by jgrullon11
1
Learn To Trade Technical Analysis Hammer & Shooting StarHey Traders today I wanted to go over what I believe is one of the best ways to trade any market with Japanese Candlesticks using hammers and shooting stars. Normally you want the wick of the candle to be at least twice the size of the body of the candle. Alot of times they can lead to explosive moves in the markets. So lets dive in and see how to use this powerful technique in your trading arsenal. Enjoy! Trade Well, Clifford
Education
by TradeTheIndex
5
AMC End of October: Is $36 the bottom or back to $32?3 weeks have pass since October. I was wrong about the bullish hammer. I expect to go up today but it went down. One pattern I hesitate and over look was the head and shoulder pattern. The price action today confirms the head and shoulder patterns. Interestingly back in September the same thing has occur. And now what to expect October. Will the algorithm repeats? If so, I expect AMC to dip even further to $32 based on the fib retrace of $28.92 and $44.44. If not I expect $36 is the bottom and we are not looking back. The falling wedge will be determine by next week price action.
NYSE:AMC
by gojira91
5
It's almost $ALGO time$ALGO has been consolidating for weeks now, since the mid-september move after hitting 2.50. The 1.55 area has shown strong support after being tested multiple times in late September. Each time on less and less volume, indicating that selling pressure is waning. Price is currently bouncing off its 50EMA and the bollinger bands are tightening. I still think we could see one more retest of that 1.55 area but if price breaks its downtrend line then my gut might be wrong. RSI is peaking above its short term downtrend line and the MACD is a few days away from a crossover. Keep your eye on this one.
COINBASE:ALGOUSDLong
by Drewsified
2
PLTR: It found its bottom! What to expect next?Hello traders and investors! Let’s see how PLTR is doing today! First, in the 1h chart, we see a crystal-clear bull trend, as it is doing higher highs/lows. The trend is not as strong as we would wish for, but it is looking good. The $ 24.71 is a key point for us, as it was the previous top, and it is supposed to become a new resistance for us, and at the same time, a pivot point. Now, let’s see the daily chart: Since PLTR found a support at the gap area, it has been trying to react. The reaction in the 1h chart it is a good start for a possible reversal in the mid-term, but it feels like the $ 24.71 is the most important price level for us here too. The $ 24.71 is a pivot point, and it is close to the 21 ema in the daily chart, which is still falling and pointing downwards. By breaking these 2 resistances, PLTR could easily fly again to the $ 29 area, as we don’t have any other meaningful resistance until there. There’s something missing, which is the volume. This low volume is depressing, but the price action is clear. We have some very good signs on PLTR, but we must wait for more confirmation. If you liked this analysis, remember to follow me to keep in touch with my daily updates! Have a good day.
P
by Nathan_The_Finance_Hydra
9
ADAUSD Chance for Double BottomImportant things to note: BTC retracting has started. I do not see BTC going past 46k. ADA chance for double bottom on 1D Double Bottom would produce a target of 2.62. This would smash the resistance level. Pattern would also create a cup for further targets. Important dates: BTC ETF Deadlines Nov. 21, Dec. 8, Dec. 11 and Dec. 24. The BTC FOMO buying finally subsided and now we get to see the retracement we were looking for. I do not see BTC going past 46K and I would like to see it stay above the 50MA on the 1D chart. ADA's retracement depends on BTC at the moment. Right now we have many options but the one I would like to see the most is the double bottom pattern on the 1D chart. Typically, you will see patterns be created on the lower time intervals and repeated on the higher time intervals. We have already seen a double bottom on the 1h, 4hr, and now I would like to see it on the 1D. This is the same for any pattern really. I want to see this pattern complete for a few reasons. First, it would signal a long term reversal (we already saw that coming however). Next, it would produce a target at a level higher than the resistance we need to get past at the moment. Third, it would create a cup which gives us potential for a cup and handle. I have already seen a cup form on the 4hr so I would not be surprised if we see one on the 1D as well. Anyways, I just noticed it and I wanted you all to be aware. This is what I am looking for. If I do not get it, I hope someone creates a meme out of this called "the pattern you want vs the one you get" LOL. I will continue to keep and eye on ADA and update you all accordingly. Thanks again! I am going to make a video soon teaching everyone my approach to charting. I will cover the entire workflow process I go through. I hope you enjoy it. Tell me what you think? This is not financial advice. DYODD.
KRAKEN:ADAUSDLong
by mysticalwalrus
20
ADAUSD Bullish Reversal of Bearish TrendImportant Things To Note: Just when you started to doubt me. Just when everyone was saying BTC 20k, ADA 1.00. Just when the news was screaming bear cycle. We finally had BTC show us more signs signaling the end of the pullback was correct. 3 test of BTC at 40712 BTC created higher low at 4114 with the impulse we needed. BTC bullish engulfing at 4hr. ADA signaled reversal with double bottom. Bullish divergence RSI ADA Higher low in major movement. Important dates: I will update this soon when I post about the summit. Well well well, we finally have some confirmation that what I saw is correct. I said BTC will push upwards at 41k. It stopped right at 4114k and gave me the impulse I was looking for. This impulse also created bearish engulfing on the 4hr candle like I said it would try to do. BTC has a long way to go to confirm the trend, specifically 45200. However, this is a great sign. ADA on the other hand had a head and shoulders pattern that I said would be reversed with the higher low in the major movement. It did this with a double bottom on the 1hr, signaling a short term reversal. There is also bullish divergence on the RSI oscillator. I have laid out the basis of the movements I predict for ADA. If the price continues with this bullish momentum, the bulls will start to hunt the bearish shorts creating more upward pressure. I have said before the bullish momentum that BTC feels will not be felt by ADA until after it really starts rolling. But this should help out ADA significantly. There are a couple big confirmations tests to go. Specifically 2.13 and 2.30 (I have put them on the chart). There you have it, a higher low, and remember bulls love higher highs and higher lows. I know most people didn't agree with me, and until it is blatantly obvious, they probably still won't. But if this continues, you are about to see everyone turn bullish really quick. LOL Just know, the signals were there the whole time. If I am proven wrong, I will be the first to admit it. However right now, it is looking pretty good for me! I got my signal, I got my higher low, and I got my reversal signs! Calling the end of a month long correction is EXTREMELY difficult to do. I am not out of the woods yet. For now, I will celebrate a bit. Never forget, fortune favors the bold! I will continue to watch ADA and update you all accordingly! Thanks again everyone for all the support! And if I'm wrong, just say I'm not good at all! LOL I am going to make a video soon teaching everyone my approach to charting. I will cover the entire workflow process I go through. I hope you enjoy it. Tell me what you think? This is not financial advice. DYODD.
KRAKEN:ADAUSDLong
by mysticalwalrus
54