CRYPTOCURRENCIES – June 11, 2023

Pullbacks on BTC and ETH reached strong support levels. Altcoins are weak and showing further weakness with recent breakdowns.

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GLOBAL EQUITY MARKETS – June 10, 2023

Quick note for our new members:

First I would like to thank to our existing members for their continued interest in Tech Chart membership service and to our new members wish a successful journey in classical charting with Tech Charts. I hope to keep a high standard and continue to add value to your decision making process.

Below is our flagship Global Equity Markets report published weekly on Saturdays. It consists of three sections, a review section with classical chart pattern setups across major benchmarks (can include some FX and commodities charts that are relevant for Equity markets performance), a breakout alert section (stocks that have confirmed their breakouts during the week) and a watchlist section. Watchlist section has 4 sub categories. Americas, Europe, Middle East & Africa and Asia. The aim of Tech Charts membership service is to offer a broad perspective in classical charting but not no catch each and every breakout opportunity. You would agree that featuring each and every breakout opportunity in Global Equities is almost impossible. However, the long-term goal is to help traders/investors gain knowledge in identifying those opportunities on their own. To help build a framework in running a bottom/up research in Global Equity Markets.

Once a breakout is confirmed the stock is placed under Breakouts page (under the specific week's report). An update is posted only if the stock reaches pattern price objective or the chart pattern negation level. Once one of those levels are reached, the stock is also updated as a completed trade idea under chart pattern reliability tables.

There are more than 45 educational videos. They are for traders and investors across different knowledge and experience levels. I strongly recommend watching those videos with your own pace. You will find several tactical trading videos where I discuss different stop-loss and trailing stop-loss strategies as well as basics in identifying classical chart patterns.

At the end of each report there is a DISQUS section where you can login with your social media/email accounts and ask questions, share charts and interact with other Tech Charts members.

If the market conditions dictate (fast moving markets, several setups emerging during the week), I will issue Interim Updates. All communications are via e-mail notifications and also through the website.

I continue to add new educational videos and interactive educational posts. Keep an eye on those updates and new content through your e-mail or through the website.

Special crypto currency reports are published bi-monthly (next one scheduled for Sunday 11th). Though they are also subject to Interim Updates if the market conditions require.

Any market related questions you might have please don't hesitate to contact me at aksel@techcharts.net and any membership related questions you might have, Jolleen Oleson (jolleen@techcharts.net) will kindly help you.

 I wish you all success and thanks again for being part of Tech Charts community. Aksel Kibar, CMT

REVIEW


The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) broke out of its multi-month long consolidation. Breakout above 93.3 levels is very positive for Global equities. The ETF is possibly completing two chart patterns at the same time, increasing conviction in the recent breakout. The gap was filled during the recent pullback. It is now clear that the recent gap was not a breakaway gap. Previous resistance at 93.3 levels becomes the new support. It will be important for the ETF to start trending higher and quickly moving away from the support area. Cup with handle price target stands at 101 and the larger scale H&S bottom reversal price target is at 109 levels.

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GLOBAL EQUITY MARKETS – June 3, 2023

REVIEW


The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) is breaking out of its multi-month long consolidation. Breakout above 93.3 levels is very positive for Global equities. The ETF is possibly completing two chart patterns at the same time, increasing conviction in the recent breakout. Friday's breakout was with a gap opening which I will monitor to see if it will become a break-away gap. Break-away gaps are usually not filled. Cup with handle price target stands at 101 and the larger scale H&S bottom reversal price target is at 109 levels. Horizontal boundary at 93.3 levels becomes the new support.

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CRYPTOCURRENCIES – May 28, 2023

Pullbacks on BTC and ETH reached strong support levels. Recovery from current support areas can resume the uptrends.

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Tech Charts Year in Review – Year Six, May 2023 Webinar

Tech Charts Year in Review. Aksel compares the before and after of charts shared with Members over the last year followed by a live Q&A. Tech Charts Year in Review – Year Six
  • A study on Chart Pattern Reliability with the available sample data over the past year.
  • H&S continuation has been the most reliable chart pattern over the past year. Rectangle continued to be in the top 3 reliable chart patterns.
  • Detailed statistics on different types of breakouts.
  • The impact of different market cycles on chart pattern opportunities.
  • Live Q&A
Live questions from Members
  1. Last year, you said 2022 was the most difficult period for breakout trading of the last six years. Many breakout traders implement "sit out" periods where they stop trading in adverse market environments. Others use Progressive Exposure to size up or size down based on how well breakouts are performing. Do you use either of these tactics? 46:42
  2. On type 3 breakouts, are you getting stopped out and then reentering? 48:19
  3. It seems like some of your setups are based on the profit target and where your stop or pattern negation level are placed, that your risk-reward ratio is less than 1. Can you clarify some of those charts and if you're taking these trades or if you're charting what you see on the chart? 49:02
  4. Do you use a trailing stop once price action has moved toward your price target favorably to avoid a loss on something that has moved so much in the favorable direction 50:04
  5. Where are you placing your stops on the chart patterns you use? Like Head and shoulders, rectangles, Cup and handles, triangles, etc? 50:50
  6. What are your thoughts on the current formation of the Gold futures chart? I see a confirmed double top on the daily, but the pattern is small. Would you think it's too small of a pattern to trade? Thoughts on the position of gold's price? 51:52
Educational videos mentioned in this webinar Recorded live 05.24.2023 Read More

GLOBAL EQUITY MARKETS – May 27, 2023

REVIEW


The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) is preparing for its seventh test of the strong horizontal resistance at 93.3 levels. After the 4th test of the strong horizontal resistance at 93.3 levels price pulled back to the 200-day average and started consolidating above it. Latest consolidation can be the handle of a 3 month-long cup & handle continuation chart pattern that can increase the bullish conviction of the larger scale H&S bottom chart pattern. Breakout above 93.3 levels will be very positive for Global equities. The short-term range is between the 200-day average and the horizontal resistance at 93.3 levels. Cup with handle price target stands at 101 and the larger scale H&S bottom reversal price target is at 109 levels. Consolidation right below the resistance is usually a good sign for a pending breakout.

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Tech Charts Year in Review with Aksel – Wednesday, May 24, 830 am mountain

Dear Tech Charts Members, Tech Charts Year in Review. Aksel will compare the before and after of charts shared with Members over the last year. As always, we'll end the webinar with a live Q&A. Scheduled for: Wednesday, May 24, 2023, at 8:30 am mountain (register below) Tech Charts Year in Review – Year Six  
  • A study on Chart Pattern Reliability with the available sample data over the past year.
  • H&S continuation has been the most reliable chart pattern over the past year. Rectangle continued to be in the top 3 reliable chart patterns.
  • Detailed statistics on different types of breakouts.
  • The impact of different market cycles on chart pattern opportunities.
  • Live Q&A
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GLOBAL EQUITY MARKETS – May 20, 2023

REVIEW


The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) is looking for direction. After the 4th test of the strong horizontal resistance at 93.3 levels price pulled back to the 200-day average and rebounded. The last pullback can be the handle of a 3 month-long cup & handle continuation chart pattern that can increase the bullish conviction of the larger scale H&S bottom chart pattern. Breakout above 93.3 levels will be very positive for Global equities. The short-term range is between the 200-day average and the horizontal resistance at 93.3 levels. Cup with handle price target stands at 101 and the larger scale H&S bottom reversal price target is at 109 levels. Consolidation right below the resistance is usually a good sign for a pending breakout.

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CRYPTOCURRENCIES – May 15, 2023

Pullbacks on BTC and ETH reached strong support levels. Further corrections can put the bullish interpretations in question.

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GLOBAL EQUITY MARKETS – May 13, 2023

REVIEW


The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) is looking for direction. After the 4th test of the strong horizontal resistance at 93.3 levels price pulled back to the 200-day average and rebounded. The last pullback can be the handle of a 3 month-long cup & handle continuation chart pattern that can increase the bullish conviction of the larger scale H&S bottom chart pattern. Breakout above 93.3 levels will be very positive for Global equities. The short-term range is between the 200-day average and the horizontal resistance at 93.3 levels. Cup with handle price target stands at 101 and the larger scale H&S bottom reversal price target is at 109 levels. Consolidation right below the resistance is usually a good sign for a pending breakout.

Read More