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Tag: Interesting Charts

Blue Raindrops: Potentially Effective for Identifying Support/Resistance & Reversals Levels

On Raindrop Charts, the color of a Raindrop depends on the relative position of the Left and Right mean (VWAP) prices to each other. The logic is similar to Japanese Candlesticks or Bars: It’s red if Right is less than Left, and green if Right is greater than Left.

Unlike other charts, there is a particular special case worth noting in Raindrop Charts when the VWAP price of each side of the Raindrop happen to be equal (or approximately equal; see more below).

We call this type of Raindrop a Blue Doji Raindrop:

Blue raindrop.

As I mentioned, we believe this Raindrop is very special.

Sunday Update Week of January 14th – January 2016 Deja Vu?

A prepared trader is a generally a profitable trader, and Sunday is a great day to get ready for the week ahead by studying up from last week’s price action.  In this weekend’s analysis, we take a look at the broad markets continued strong move up this week and compare the recent lower indicator action with the early 2016 moves which aren’t exactly the same but are showing many similarities.

Sunday Update for 9/10 – Broad Market Update

A prepared trader is a profitable trader, and Sunday is a great day to get ready for the week ahead. In this weekend’s issue, we are taking a look back at last week’s blog post as well as a few other main ETF’s that track the market. As the market has been so volatile, anything can happen but technical analysis can give traders a general idea of where prices may be heading. To see what we were watching for last week, take a look at last weekend’s blog post here. 

Sunday Update for Week of 8/20 – Cryptocurrency Technical Analysis

A prepared trader is a profitable trader, and Sunday is a great day to get ready for the week ahead. This weekend, we are focusing on the cryptocurrency sector as it has been slammed over the last two weeks. We are paying attention to the weekly candle here for the potential confirmation of a short-term bottom. As always, any of these setups can continue to breakdown rather than reverse so it is important to use TrendSpider’s dynamic alerts to stay ahead of the action.