While analyzing the charts if we bring in the element of family into it, it makes a lot of sense and we understand things better. In this example I have put 21period moving average(ma21) and a 10 period exponential moving average(10emaavg) as the parents and the price candle stick representing the child. How parents behave towards the child and what happens when...
RSI ABOVE 50 , Not oversold yet.
Trend line not broken yet
Market structure is bullish - monthly weekly and daily.
above 50 and 200 EMA
if breaks the resistance , then wait for BRC ( break retest and continuation)
and open Long position.
H&S formed on the Hourly chart at the support level of the tunnel.
There's two scenarios here:
1- H&S breakout confirmed and this will also confirm the tunnel breakout. Becoming into a strong selling position
2- H&S fails and price comes up to test previous resistance level completing the wave (5) followed by a big pullback correction
MACD and RSI should...
AAPL - Monthly Chart
Chart formed resistance at Sept 2018. It provided breakout during Oct 2019. It created a high during Jan 2020 and came back to the resistance zone during March 2020.
Price action behind Apple - It broke the resistance and retested the zone. Also formed a green candle for better confirmation. It retests the moving average too. Resistance...
AAPL Shows vertical potential.
Channel break was captured at 200 EMA. The stock has been respecting the EMA since the 1980s. The same can be said for future channel breaks as well.
Only if the stock doesn't put a ding in the charts.