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Rebound

JNJ Ready to Continue Rising HigherThe share price of Johnson and Johnson looks ready to rebound from the major resistance-turned-support area, underpinned by the 23.6 per cent Fibonacci retracement level at 175.61, and resume climbing. The underlying uptrend appears to be taking the form of a 1-5 impulse wave pattern, as postulated by the Elliott Wave Theory. Thus, the recent correction can be perceived as the second retracement leg (3-4). If the price action strengthens above the 23.6 per cent Fibonacci, this would allow for the subsequent emergence of the final impulse leg (4-5). If, however, the correction breaks down below the lower limit of the support, underpinned by the 100-day MA (in blue), this would likely mean that it could then be extended lower towards the 38.2 per cent Fibonacci.
NYSE:JNJLong
by Trendsharks
ERG/USDT Start: ERGO reaches for the stars. 10x possible?Intro: - ERGO rebounds from 7.5$ and goes for new ATH. - Unfortunately ERGO on tradingview does not show the full history. We include the resistance levels around 10$, 12.5$ and 17$. But since we believe in this coin and its potential we will start covering it here. - ERGO worked together with Charles from Cardano and they talk highly from each other which is a good thing if you believe in ADA and it's approach. - Guys please give me some feedback to improve my charts, analysis and commentaries. Daily chart on the left hand side: - Price looks a bit like a short bullflag that broke out today. - Volume drop for three days with one up day today that does not say anything yet. 4h chart on the right hand side: - We see a failed bullflag that did rebound around 7.5$. - No RSI analysis yet. Expectation: - We expect a fully grown bullrun for ERGO which seems undervalued at the moment. Basic rules: - Never buy the top/ ATH - Take profit as long as you can (also partial profit is profit) - Use Stop/loss for leveraged positions - If you are not experienced, don't leverage in the first place Enjoy the ride and don't be too greedy. If you like the content, please like, comment and give this channel a follow. We would love it if you could share your thoughts in the comments. Discussions are very welcome here. Always do your own research and keep in mind that my charts and comments cannot be considered financial advice. Cheers ps. Chart explanation: Main lines: - Green lines are tested support lines. - Orange lines are resistance lines or, if we are above, possible support lines which were not tested yet. - Cyan line is for volume trendline. - White lines are Fibonacci retracement levels Helplines: - Purple lines are trendlines we take a look at. - Blue, green, white and pink lines are 200MA, 100MA, 50MA and 20MA. - Yellow lines are for visual help only. Boxes: - Either entry zone or support zone . Check the description.
Long
by tumbler55
8
Apple's Shares Likely to Spring Up Shortly Apple had one of its best quarters ever, posting record-breaking revenue growth. Even still, the share price fell by $3 on iPhone chip supply bottlenecks. The correction is likely to bottom out at the 23.6 per cent Fibonacci retracement level, creating an opportunity for trend-continuation trading. The market is likely to price in these concerns later today, allowing for sustained price appreciation afterwards. Bulls should consider going long only on the condition that the share price consolidates within the Pennant over the next several hours.
NASDAQ:AAPLLong
by Trendsharks
Tesla Shatters All EPS Expectations, Set to Climb Higher Yesterday, Tesla delivered its earnings data for Q2. The electric vehicle manufacturer beat all topline and bottom-line expectations, reporting a net income of more than $1 billion for the first time ever. The share price is likely to rebound from the bottom of the ascending channel, as well as from the 200-day MA (in purple) and the 100-day MA (in blue), and test the psychologically significant resistance at 700.00. If it manages to break the latter, the share price is then likely to head towards the 61.8 per cent Fibonacci retracement level.
NASDAQ:TSLALong
by Trendsharks
7
Cup And Handle on the AUDUSD There is an opportunity to trade on a potential bullish rebound on the AUDUSD. That is, if the price action manages to break out above the Handle and the 50-day MA (in green). If it then manages to penetrate above the 23.6 per cent Fibonacci retracement level, the upswing is likely to head towards the 38.2 per cent Fibonacci at 0.75186, next. Keep in mind that the 100-day MA (in blue) is currently converging with the 23.6 per cent Fibonacci, which could initiate another bearish reversal.
Long
by Trendsharks
JICPT| BTC gotta make a choice of where to go! Hello Bitcoin traders. BTC has moved to previous low level of $29799. Now, it has to make the choice of where to go! Scenario 1: buyers come in to push the price up to $34500. Scenario 2: sellers take control to break the previous low and further down to second defense level of $20000. Without positive influencers joining in, the second scenario is likely to happen. That will be another 30% drop from the current level. I think buyers should pay special attention to risk management. Don't use high leverage. Once the breakout happen, it might go down significantly with a fast speed. I would recommend buyers to buy BTC ETFs, e.g. GBTC Give me a like if you're with me. Please trade safe and stay safe!
BITFINEX:BTCUSD
by JICPT
EUR-GBP Long From Support Again! Buy! Hello,Traders! EUR-GBP went up from the support the last time Just as I predicted in my previous analysis on the pair And now it is retesting the same level again The support has shown its strength Thus, a rebound to retest the falling resistance Seems like a probable scenario But as it was the case with the previous long The trade is risky so wait for reversal signs Buy! Like, comment and subscribe to boost your trading! See other ideas below too!
Long
by TopTradingSignals
6
AUDUSD Develops an Inverted Head and Shoulders Pattern The price action consolidated above the 50-day MA (in green) and then broke out above the 23.6 per cent Fibonacci retracement level at 0.75508. After the AUDUSD jumped past that crucial threshold, it also probed the 100-day MA (in blue). Presently, the bullish momentum appears to be waning just below the Distribution area (in red). Notice that the 38.2 per cent Fibonacci at 0.76159 serves as a major resistance level. A potential reversal from this significant turning point could drive the price action back below the 23.6 per cent Fibonacci. In turn, this could result in the establishment of an Inverted Head and Shoulders pattern, provided that the price action then rebounds from the Accumulation range (in green).
Long
by Trendsharks
Watch Out for a Rebound on AUDCAD The AUDCAD established a Descending Wedge pattern, which in itself is demonstrative of a potential bullish rebound from its lower end. The likelihood of such a rebound taking place is bolstered by the fact that the Wedge appears to be bottoming out at the major support level at 0.92650. Moreover, bullish pressure appears to be rising now that the price action has reached the lower end of the broader consolidation range, as underpinned by the Stochastic RSI indicator. If the price manages to penetrate above the upper boundary of the Wedge, it is likely to then pull back before continuing to head higher. The first target is the 61.8 per cent Fibonacci retracement level at 0.93402.
Long
by Trendsharks
USDCAD to Rebound and Continue Climbing The pair started developing a new Markup, as we forecasted last time (see link below). This happened after the price managed to break out above the Accumulation range, as postulated by the Wyckoff Method. Due to the strengthening of the dollar, the price is likely to continue appreciating in the near future, though the correction could fall as low as the 61.8 per cent Fibonacci retracement level beforehand. Several factors substantiate the expectations for future gains. The Bollinger Bands are tightening, which indicates diminished adverse volatility for the time being. Meanwhile, the underlying bearish momentum is waning, as indicated by the MACD indicator. Finally, all of this happens as the price action is consolidating above the 38.2 per cent Fibonacci retracement level.
Long
by Trendsharks
Textbook Range Play on the USDCAD The USDCAD has been behaving as per the expectations of the Wyckoff Cycle for quite a while now, which provides an insightful outlook on the likely behaviour of the price action in the near future. Following the completion of the last Markdown, the pair went on to start establishing the current Accumulation range. Its existence is confirmed by the ADX indicator, which has been threading below the crucial 25-point benchmark since the 14th of May. The development of a Hammer candle, which entails rising bullish pressure around the lower boundary of the Accumulation (at 1.20250), means that the price action has indeed bottomed out at the lower end of the Accumulation. Hence, the price of the USDCAD is now ready to head towards the range's upper boundary at 1.21350. Before it can do so, however, the price would have to break out above the 50-day MA (in green) and the 100-day MA (in blue).
Long
by Trendsharks