Extreme low volatility condition on BTCUSD both on daily and weekly scale is likely to resolve in the following days. While the direction of the possible breakout is not clear, the report below highlights the important technical levels to monitor. Several altcoins completed their consolidations on the downside. In this report I update those charts with their price targets.
Read More
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) remains below its 200-day average which is acting as resistance at 90 levels. Volatility continues around the support at 81.4 levels. The ETF failed to stabilize above 81.4 levels. Downtrend is intact. Until I see a clean bullish reversal chart pattern, I am not acting on the long side of the price action on this ETF. Price target for the rectangle breakdown stands at 72 levels.
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) remains below its 200-day average which is acting as resistance at 90.6 levels. So much volatility around the support at 81.4 levels. Gap up above the horizontal level was reversed with a gap down. The ETF managed to stay above 81.4 levels for 2 days and was followed by a renewed weakness below the support. Downtrend is intact. Until I see a clean bullish reversal chart pattern, I am not acting on the long side of the price action on this ETF. Price target stands at 72 levels.
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) remains below its 200-day average which is acting as resistance at 91.2 levels. Breakdown below 81.4 levels was with a gap opening. If the range between 81.4 and 92.7 levels act as bearish rectangle, price target for the downtrend will stand at 72 levels. 81.4 level becomes the new resistance. Recovery above 81.4 levels can result in a failed breakdown. So far the ETF didn't have the momentum for a counter-trend move to fill the gap. If it is a breakaway gap, it might not get filled.
Volatility is low on many pairs suggesting directional movement soon. Many alt coins have been consolidating in tight ranges with well-defined chart patterns. Below is a review of the latest chart pattern developments. There might be many more pairs that are of interest to our members. Please feel free to pass along those that you want me to analyze under this post (DISQUS section). I welcome our members to comment with their charts/opinions as well.
Read More
Chart patterns do not form frequently on price charts. If you find yourself looking for a chart pattern on a specific chart of your interest, pause for a second and remind yourself that the longer you search for a pattern the higher the chances that you will see some sort of a pattern that actually is not a valid pattern.
How do we overcome this "over-analysis"? We set certain criteria before we even start looking for chart patterns.
Dear Tech Charts Blog followers, Over the past few weeks I started putting out those interactive charts and videos that met great interest from classical charting enthusiasts. I’ve been thinking of ways to improve your learning experience. I realized that many who are interested in charts and technical analysis want feedback on their input and […]
We are continuing our Member webinar series with chart pattern reliability and how the latest market conditions have impacted success rates on different chart patterns. We plan to have an interactive session and an open discussion to answer members' questions on different markets and specific charts of interest.
Webinar Outline
Recorded live 09.22.2022
There are three types of triangles covered under the classical charting principles. The symmetrical triangle, ascending triangle and descending triangle. Between those three I favor ascending and descending triangles for couple of reasons. One of them is, both ascending and descending triangles have horizontal boundaries. Breakouts through the horizontal boundaries are the chart pattern signal. […]
Every week Tech Charts Global Equity Markets report features some of the well-defined, mature classical chart patterns under a lengthy watchlist and the chart pattern breakout signals that took place during that week. Global Equity Markets report covers single stocks from developed, emerging and frontier markets, ETF’s, select commodities, cryptocurrencies and global equity indices. Below […]
