the market structure is one of the most important thing that you should know when analysing the markets
Here in this example, i show you how you can predict a trend reversal by reading the market structure.
as you can see the market was trending down making impulsive moves and corrective moves.after that price stopped trading and made a double button pattern.this indicates that the market becomes ranging. we call this phase the accumulation pahse, because the market accumulates quantities to be able to change direction and go up.
if you want to learn about the market structure and how to read your charts, i highly recommend you to get
the candlestick trading bible ebook. it is easy to read,simple, and it covers the most powerful trading strategies
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It really is quite simple to draw in the 50% levels, but it’s important that you understand where a move begins
and where it ends, because I know some traders get confused about that. Where the move started should be an exact high or low of the move, or very close to it, this is where you first place the Fib tool, then you click and drag the other end of the Fib tool to the other end of the move; where the move terminated. Where the move started you should see the “100.0” in the top right of the Fib tool and you should see the “0.0” in the bottom right of the Fib tool.
This might seem confusing at first to have the 100 % level at the start of the move, but it makes perfect
if you think about it like this: You are looking for a retracement of a move, so by the time the move is finished
and the market starts retracing, it is moving back toward the origin of the move and if it were to retrace back up
or down on the whole move, it would then have retraced 100% of the move.see the example i shared to understand more.
If you want to learn how to trade the market the right way, i highly recommend you purchase your copy of the
candlestick trading bible.
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And there's no way to slow (down)
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Immunomedics Inc. (NASDAQ:IMMU)
Heavily oversold sitting in uptrend channel waiting for a possible bounce in the next few days. Price target $30.00, with support found at $22.00. A break above $23.00 would see us heading to an almost 50% potential gain. RSI beginning to see a turnaround.
Watching this making sure support 1 $72.70 holds and the upward channel continues. If support holds expect a nice rebound up to $80.00. Simple technical play, RSI beginning to climb back into demand. If support 1 does not hold, expect a drop to $70.20, wait for confirmed trend tomorrow before entry.
Nemaska Lithium Inc. (TSX: NMX)
Second post on this, first post price jumped from $0.63 to $0.84 and hit resistance and dropped back to support. I believe we're gonna be testing that resistance again and hopefully this time breakout to our 300% potential gain.
Mid-Long, cypher pattern, RSI and MACD curl suggests very strong potential bounce. Resiliant to drop below $0.65 support zone. Company sitting on large lithium deposits, production expected to be sold in 2019. Big increase in lithium expected in the future. Get your positions ahead of the crowd. Analyst consensus Strong-buy.
Domino's Pizza Inc. (NYSX:DPZ)
Strong reversal candidate hitting long term trend-line and soon support level area of $272.50 - $269.30, from there we should see a turn around as RSI begins to shift away from oversold. Daily RSI sitting at 34%, speculating it will hit 30% which would give us a price of about ~$270 and from there a turnaround if support holds.
1 342 days ago
PayPal Holdings Inc. (NASDAQ:PYPL)
Looking for a move up with PayPal after a huge drop post-earnings. May see consolidation before a sharp uptrend starts. Consolidation near ($89.00-92.00) range. It is bullish long-term. A long-term hold. This stock definitely needs patience. Will update after confirmed uptrend.
4 553:09 AM Sep 12, 2018
Village Farms International Inc. (TSX:VFF)
Wedge broke-out early due to news of partnership with Emerald Health Therapeutics. Industry sentiment is highly bullish and analyst consensus suggests company is highly undervalued. This is definitely the beginning of a big run coming soon. Slight resistance at $8.00 but I believe this will break very soon. Price target is well above $10.00 moving into October. Highly bullish, may see pull-back due to over-bought territory but very strong long and short-term hold.
5 253:08 AM Sep 12, 2018
Tyme Technologies Inc. (NASDAQ:TYME)
Nice long-term setup with potential repeat of previous scoop formation. Support found near $2.15 with a price target of $4.00. Chart is self explanatory, over the last week it touched on support and has finally bounced off. Looks like the bullish move has started, RSI and MACD both supportive of the move. Zacks rated a 2-buy. A strong hold, potentially, 1-2months, given ups and downs.
3 563:07 AM Sep 12, 2018
Global X Uranium ETF (AMEX:URA)
A long-term support on this ETF is being tested again at $12.00, we're looking for a positive outcome bounce onto R1 Target of $14.50 then possibly onto R2 Target of $16.00. Simple technical play, based on past trends, likely upward trend after resistance is tested. A very nice setup I would keep a very close eye on with a potential gain of 33%.