This is a Guest Post by Jake @TrendSpider.
In this weekend’s analysis, we take a look at the broad market ETF’s SPY, QQQ, and Bitcoin. In this update, we view how the daily Raindrops(TM) and weekly hollow candles played out for the week while utilizing unique features from TrendSpider to do this. Make sure to set your alerts on the moving averages, trendlines, and Fibonacci levels you are watching into next week!
Sign Up For Sunday’s Webinar With Brian Shannon!
Make sure to tune into next weekend’s webinar with Brian Shannon, founder of Alphatrends.net and author of “Technical Analysis Using Multiple Timeframes“. In this webinar, we will focus on using Brian’s “Anchored VWAP” on the platform as well as how you can use anchored VWAP when looking at blue raindrops.
Weekend Video: SPY, QQQ, BTC
SPY: Daily vs. Weekly Chart
QQQ: Daily vs. Weekly Chart
BTCUSD: Daily vs. Weekly Chart
Bitcoin Before and After: The Power of The Raindrop(TM)
In this weekends “Before and After”, we take a look at the Bitcoin chart from late August as it broke down through crucial levels of the symmetrical triangle support. You can see how the Raindrop(TM) showed heavy selling volume below the Trendline which then led to continuation down the next day. However, this volume was likely stop-losses triggering which ended up being a total fakeout as seen in the chart above. Learn more about raindrops here.
Related Blog Posts
- Alerts – Add alerts to your trendlines and indicators with sensitivity.
- Raindrops – Visualize volume and price action in a completely new way by visualizing volume flow throughout a specific time period.
- Conditional Criteria Alerts – Create complex conditions to be met between a mix of lower indicators and price action.
- Multi-time frame analysis (MTFA) – Overlay your chart a secondary timeframe with on trendlines, indicators, and Fibonacci levels.
- Trendline Preferences – Customize your trendlines to automate a consistent trendline drawing strategy.
- Add Watchlist – Create your own watchlist and quickly move through charts with automatic analysis on each!
- Automatic Candlestick Recognition – Automatically input your favorite candlestick patterns into the system and have TrendSpider find all the ones on your current chart!
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REMEMBER: These are charts that have interesting technical setups based on automated technical indicator analysis included. Charts and analysis provided for educational reasons only. TRENDSPIDER IS A CHART ANALYSIS PLATFORM. IT IS NOT INTENDED TO BE TRADING OR INVESTING ADVICE. ALWAYS DO YOUR OWN DUE DILIGENCE USING MULTIPLE SOURCES OF INFORMATION AND/OR SEEK THE ADVICE OF A LICENSED PROFESSIONAL BEFORE TRADING OR INVESTING. Please read our full risk disclaimer on our website by clicking here.