Adobe Inc is pulling back inside a 1D Channel Down (MACD = -0.030, RSI = 51.065, Highs/Lows = 0.0000) after the late April High. Having made a Golden Cross formation in mid March, is waves a long term buy signal. But on the shorter term a tough phase is expected where the 1D MA200 should be tested again, most likely providing the necessary support for the new long...
NASDAQ:AAL sitting comfortable inside the falling wedge. I am expecting/hoping for an upside break. Conservatively, I am targeting $40 if AAL breaks out of the wedge. Otherwise a correction to $29 invalidates this outlook.
NASDAQ price projection is showing for 8035.5 on the hopes of resolutions to the trade war and FED rate cuts.
If we do go for it. And can't break this barrier (yet again). It is going to hurt going down.
1H Chart Explanation:
- Price is on the Top of a Descending Wedge, on a minor Ascending Channel and against a Resistance Zone.
- Bearish Divergence on MACD.
- Price is against a Resistance Zone.
- If price breaks the Channel, it has potential to move down towards the Convergence Level (Support Zone + Bottom of the Wedge).
Updates coming soon!
The situation with China and now Mexico tariffs will be drawn out, there may be two rate cuts but the Fed will wait for the data to support it, meantime we will see more volatility.
I may look to flip the trade if there is very clear resistance at the cloud and .786 fib.
I have been a trader for 13 years and I have traded through the financial crisis . I have been around the block , I have gained and earned lots of experience while constantly learning from the best traders in the world. I am a full time trader , help/teach people how to trade properly and profitably .
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Nasday is seemingly bearish. Bulls seem to have been exhausted steam making way for the bears t jump in the drivers seat.
Im anticpating a bearish momentum for the remainder of the week of 5-7 june 2019
1H Chart Explanation
- Price is currently on the bottom of a Descending Wedge.
- Bullish Divergence on MACD.
- In case price breaks the Descending Trendline, it has potential to move up towards the Resistance Zone at 7258.
However, we STILL SHORT in the Long Term. You can check our 4H Analysis.
4 Hour Vision
I called the last bottom in dec 2018, let's see if I can get this one right.
Buying at 7126 / Closing 7300ish
Strong indication of a bounce this week, I'd bet you could throw 1/3 your stack here at 7120 and 1/3 at 6950 and you're nearly guaranteed to break even at worst.
The Mexican tariff news is BS, no way it's enforceable, it's going to take 1 tweet from...
Confirmation/Entry: 124.46 (ideal) / 188.78 (early)
Invalidation: Local high
Target: Three targets on chart
Pattern: 1) Weekly bearish impulse with 2) break of weekly EMA50, and 3) death cross on daily.
We have a rising trend, Stochastic in the correct range to open a positivity on the NASDAQ, Ichimoku indicator supports further long-term gains, and if we finish a green week it is a positive sign after the star-candle