CRYPTOCURRENCIES – October 31, 2022

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I pay attention to breakouts/breakdowns through horizontal boundaries. Breakouts through the diagonal boundaries can offer directional movement, though they might not follow the guidelines of classical charting principles. While an initial thrust can take place, it will not be possible to measure price objectives or chart pattern negation levels. With the breakout above 20,500 levels, BTCUSD experienced one of those price actions where there was not much follow through and the pattern most likely is going through some kind of morphing. Let's review some of the recent chart pattern developments on different pairs. Read More

GLOBAL EQUITY MARKETS – October 29, 2022

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REVIEW

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 89.1 levels. The ETF recovered above 81.4 levels. Downtrend is intact. This week's price action possibly completed a short-term reversal chart pattern. Daily charts below analyze the possible short-term reversal.

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GLOBAL EQUITY MARKETS – October 22, 2022

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REVIEW

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 89.5 levels. Volatility continues around the support/resistance 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.

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CRYPTOCURRENCIES – October 16, 2022

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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

GLOBAL EQUITY MARKETS – October 15, 2022

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REVIEW

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.

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GLOBAL EQUITY MARKETS – October 8, 2022

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REVIEW

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.

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GLOBAL EQUITY MARKETS – October 1, 2022

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REVIEW

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.

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CRYPTOCURRENCIES – September 29, 2022

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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

200 DAY MOVING AVERAGE & CHART PATTERNS

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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. Read More

Review of Chart Pattern Reliability Statistics and Opportunities in Global Markets – September 2022 Tech Charts Webinar

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Review of Chart Pattern Reliability Statistics and Opportunities in Global Markets - September 2022 Tech Charts Webinar

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
  • Review of chart pattern statistics and discussion on chart pattern reliability covering the third quarter of 2022
  • Review of global equity markets and latest opportunities
  • Review of cryptocurrencies and latest opportunities
  • Open discussion answering member's questions on different markets and specific charts they want to discuss
  • Education/analysis of fine points on classical charting as we go through different charts/questions

Live questions from Members

  1. India has been in a sideways movement for a year. I know you've featured a bunch of names from here. Do you see this EM as an outlier of strength amongst most EMs? 48:45
  2. I have been looking at the crypto ticker XLM/USD and XLM/BTC. It seems to be setting up a strong bottom. 49:39
  3. I see you use MetaStock. Is there any specific reason? 51:08 (LINK for MetaStock)
  4. Do you only trade the chart patterns? Do you wait for the confirmation for the price close? What do you do when closing diminishes the Risk reward relationship? 52:14
  5. Would you be able to give me a stop loss (as you would use) for your India positions? 53:20
  6. Can you go over the breakout setup in NOC? 55:06 (LINK ATR TRAILING STOP-LOSS) 
  7. How important is EEM nowadays? Isn't it mostly made up of China tech? Isn't it better to look at individual EM ETFs rather than EEM? 57:05
  8. In your weekly report for some index or stocks, you are using DEMA200 or DSMA200. It's a bit confusing which one to use. 57:43
  9. Yen had a crazy day today. 58:03
  10. Your thoughts on the continuing strength of the U S Dollar & its effect globally? 58:05
  11. Could you give us your view on EWZ (brazil) and also an update on NIKKEI? It looks like a bull trap confirmed above the rectangle breakout. 59:38
  12. Can you summarize any charts that look bullish? Everything seems bearish. 01:01:43
  13. Can you please chart BBBY on daily? Is that a falling wedge from 8/17 to the present day? 01:02:08
  14. How do you trade Turkey ETF? On a USD or at a TRY base? 01:03:51
  15. On the BBBY monthly, is that a double bottom? 01:05:15

Educational Videos mentioned in this webinar 

Recorded live 09.22.2022  Read More