Babsphoenix

Babsphoenix Feb 17

Elliott Waves -Completion of wave II of (III). WTF -OBV is showing accumulative correction -Stochastic RSI is oversold and has made a bullish cross in the oversold region. -RSI and MFI are showing bullish divergence. -Price is testing monthly horizontal and support. -Price is testing 5 years diagonal support. WTF -ADI and OBV showing accumulative correction and...

Babsphoenix Updated  Aug 7, 2023

Decentraland is forming a weekly TF bullish flag. The flag breakout is likely going to be initiated from the next support or the wide demand zone beneath it. A short term buying opportunity can be scouted on both. But a fast and long bullish move is going to be tough because there are many resistances ahead. For a long term buy, its better to wait for all the 3...

Babsphoenix Updated  Aug 7, 2023

This instrument has just broken a support in continuation of the descent that started on 9th Jan 2023. The possibility of a halt seems close with demand zone at 0.95263. We can look for a buy setup if the blue trendline is breached.

Babsphoenix Aug 6, 2023

This instrument is about to complete its correction and present a buy opportunity. The marked demand zone flipped the resistance and turned it to support. A retest of this zone which is also in confluence with a dynamic support (1D MA 50) may initiate the continuation of the uptrend.

Babsphoenix Aug 5, 2023

Silver price is sitting on a confluence of supports, the demand zone, horizontal and diagonal supports and 200 days moving average). A revisit of the demand zone is a good opportunity to buy but the safest buy is after the break of the blue trendline. While the ultimate target is the resistance at 25.127 dollar, there are various types of resistance on the way.

Babsphoenix Updated  Jul 23, 2023

Apple price has formed a cup and handle pattern on the daily time frame but the handle is still sitting under a daily resistance, leading to a high probability of a correction to retest the demand zone beneath the handle. 1D MA 100 also form an additional support. A break of the resistance is possible.

Babsphoenix Updated  Jul 19, 2023

The index is still bullish but is under going a retracement targetting a cluster of support: a daily support, a demand zone, and two dynamic supports (4HR MA 200 and 1D MA 50). I expect a continuation of the bullish trend from there and we can look for a buy setup. But the safest buy is after the blue trendline that is developing as an intraday resistance has been...

Babsphoenix Updated  Jul 19, 2023

This instrument is undergoing a short term correction and is about to present a buy opportunity. The buy opportunity can be assessed when the pullback gets to the confluence of diagonal and horizontal supports and the demand zone. Our minimum target will be the supply zone ahead.

Babsphoenix Updated  Jul 14, 2023

GBPUSD formed a double bottom and is testing a resistance on the weekly time frame and a supply zone is not very far from here. Two dynamic resistances are also very close as resistance. If the pair breaks out of all these, tremendous buy opportunity will be presented with 1.42 as the most aggressive targets and 1.32 as the most conservative. Its better to wait...

Babsphoenix Updated  Jul 13, 2023

This instrument is testing a weekly time frame support cluster of 1W MA 100, 1W MA 200, a digonal resistance and a horizontal resistance, all these happening in a demand zone. A bounce from here is very likely. We can look for a buy setup when the price has successfully breached the blue diagonal line (check the inserted 4HR time frame chart)

Babsphoenix Updated  Jul 13, 2023

Silver is forming a bear flag on the daily time frame. This pattern present trading opportunities even before if eventually plays out. We can look for buy opportunity at the demand zone but this is better done after the supply zone ahead of it has been taken out and the price is sitting on a confluence of support after taking out the liquidity under them. A sell...

Babsphoenix Updated  Jul 13, 2023

This instrument has reached the minimum target from out last analysis (see the insert idea) and a correction seems in place. Either long term(reversal) or short term(pullback), we can still have some profitable trades. Price broke out of distribution zone two days ago and a lot of liquidity seems left behind. Price is testing a demand zone at the moment and this...

Babsphoenix Jul 3, 2023

The pair is sitting on a confluence of support at the moment and seems to be prime for growth. But its safer to allow price break out of the blue trendline before looking for a buy setup since the trendline has been acting as a resistance for some time. Two moving averages are in the path of the price as likely pivot points to the maximum target therefore caution...

Babsphoenix Jul 3, 2023

This pair is testing a resistance cluster: the 1D MA 50, 1D MA 100, 1D MA 200, horizontal resistance, a diagonal resistance and a supply zone. We can look for a sell opportunity here.

Babsphoenix Updated  Jul 3, 2023

Gold has been in a downtrend since 4th May 2023. and it has been respecting the blue trend line since then on its way to the support of the ascending channel it has been trading in since 31st October 2022. A reversal is possible here since this support is in confluence with 1D MA 100 (Blue up arrow). Since a demand zone in confluence with 21st Nov 2022 higher lows...

Babsphoenix Updated  Jul 3, 2023

This pair has formed a double bottom on the weekly chart but a resistance cluster hinders the neckline breakout required for the pattern to play out. The combination of resistance at the neckline, 1W MA 50 and 1D MA 200 are capable of invalidating the pattern. A rejection from this cluster will most likely be supported by the MARCH 2000 HIGHER LOWS TREND LINE....

Babsphoenix Updated  Jul 1, 2023

Bitcoin is facing a cluster of resistance to its attempt at reclaiming the 20 years old ascending Channel it lost on the 21st September 2022. 50WMA, 200WMA, horizontal and diagonal resistance are standing in the way. A major source of optimism, in spite of the weekly death cross, is that it has turned a 15 months old bearish diagonal resistance into support....

Babsphoenix Updated  Jun 25, 2023

Litecoin has been stuck in a range since January 2023 while maintaining the higher lows trendline that started in October 2022 and now has a cluster of support to sit on while preparing for a bull run. This bullish prospect is only confirmed when a weekly candle closes above the resistance cluster of 1W MA 100/1W MA 200/horizontal resistance. We can look for a...