GLOBAL EQUITY MARKETS – November 6, 2021
REVIEW
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) is in an uptrend. There is no reversal chart pattern on the daily scale price chart. This week's price action cleared the resistance at 105.5. Breakout above 105.5 levels resumed the existing uptrend. Previous resistance becomes the new support at 105.5 levels. Long-term average is also acting as support at 99.4 levels.
Read More
CRYPTOCURRENCIES – October 31, 2021
I want to start this special cryptocurrency report with couple of important points. Chart pattern price targets (especially in cryptocurrency markets) should be used as guidelines only. Price can exceed or fall short of price objective. With upside price projections, I'm taking absolute price change. With downside price projections I'm taking % change (to avoid negative number price targets). Both methods will give us conservative price targets.
There has been several major breakouts in cryptocurrencies, especially in alt space. How can we monetize on those? How can we capture those breakouts. First and foremost, a disciplined approach and a routine review of each and every chart is required to be on top of market movements. If we look, we see. If we know what we are looking for we will see it clearly.
I.e. SHIBA INU/USD had a massive move. This move started from a tight and lengthy, well-defined consolidation range.
Another great example was MATICUSD. The breakout took place after the pair consolidated in a tight and well-defined range.
The following chart feature similar tight consolidations and breakout opportunities. Some opportunities are highlighted on daily scale price chart and some are larger scale patterns so weekly scale is utilized. I hope you find these findings valuable. Updates on those opportunities will be issued in following reports.
A quick note on how to trade those breakout opportunities. The daily scale price charts need a daily close above the chart pattern boundary. The weekly scale price charts need a weekly close above the pattern boundary for breakout confirmation. However, if you are thinking that by the time that confirmation candle forms it is usually too late to get on board, an intraday entry can be utilized. Though you need to be prepared for false breakouts in such cases. Read More
GLOBAL EQUITY MARKETS – October 30, 2021
REVIEW
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) is in an uptrend. So far the price action seems like it completed a reversion back to the mean. Strong support area remains between 98.5 and 99 levels. There is no reversal chart pattern on the daily scale price chart. Previous high is acting as resistance at 105.5 levels. If the previous high acts as resistance I will expect a consolidation range between 99 and 105.5 levels. Breakout above 105.5 levels will resume the existing uptrend.
Read More
