Hi all.
I wanted to not only find important signs on the 1M chart, but also experiment with 1D chart.
I know so many people have a literal skin itch until they find the head and shoulders on the chart.
Once head and shoulders are found, life becomes much easier and the chart makes sense.
Ditz-bums! [short drum sound]
Here is a strikingly similar story with SPX,
some peoples have found the head and shoulders last days...
But long-awaited explosive up breakout did not happen.
So, man…
What happened?
A downchannel happened probadly.
Yes, it wasn't exactly a confirmed channel,
but now we have a rejection of its upper boundary and we can see the thing better.
I just have one question for you and for myself.
Could it be a three-drive pattern?
Because, if I am sure the candles have nowhere to go out of the channel,
only to renew new bottom, then this is the most informative pattern for us i think.
Of the usual indicators, I've left the Ichimoku
and we see a remarkable long thin neck pointing
to a nice easy break down spot.
This further confirms the possibility.
VIX has been squeeze and squeeze and similarly
gives every reason to think in that direction.
Bitcoin on a hard FOMO buying going in opposition to SPX move.
Not to romanticise it, so far Bitcoin has never shown lasting
independence from global market conditions.
Then the possible duration of this leg is down to ~3350.
Well, now the cursing will begin in the comments.
I am not encouraging anyone to do anything.
You all have your own heads.
I wanted to not only find important signs on the 1M chart, but also experiment with 1D chart.
I know so many people have a literal skin itch until they find the head and shoulders on the chart.
Once head and shoulders are found, life becomes much easier and the chart makes sense.
Ditz-bums! [short drum sound]
Here is a strikingly similar story with SPX,
some peoples have found the head and shoulders last days...
But long-awaited explosive up breakout did not happen.
So, man…
What happened?
A downchannel happened probadly.
Yes, it wasn't exactly a confirmed channel,
but now we have a rejection of its upper boundary and we can see the thing better.
I just have one question for you and for myself.
Could it be a three-drive pattern?
Because, if I am sure the candles have nowhere to go out of the channel,
only to renew new bottom, then this is the most informative pattern for us i think.
Of the usual indicators, I've left the Ichimoku
and we see a remarkable long thin neck pointing
to a nice easy break down spot.
This further confirms the possibility.
VIX has been squeeze and squeeze and similarly
gives every reason to think in that direction.
Bitcoin on a hard FOMO buying going in opposition to SPX move.
Not to romanticise it, so far Bitcoin has never shown lasting
independence from global market conditions.
Then the possible duration of this leg is down to ~3350.
Well, now the cursing will begin in the comments.
I am not encouraging anyone to do anything.
You all have your own heads.
Note
There are definite signs on the hourly chart for a move down.
Look at how the volume flow indicator showed a decline last time.
It remains to get a big red triangle on it.
There is also an EMA100/200 cross being prepared
Note
Note
Note
With a zig-zag.
Note
Note
Silicon Valley Bank proved to be quite a tangible trigger.Note
Note
Price bumped this one up again.
What do you think?
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.