$JSEDSY once again battling at its 200dmaKeep an eye on this one- if history repeats, the 200dma which has acted as strong resistance on any snap-back rally should be a very decent level to enter a short position with a fairly tight stop loss.
200ma
The #steepening continuesSome thoughts on the S&P/ASX200 (XJO) for any Aussies out there. Looking at the daily chart. 1) Price and RSI trends seem to be intact currently (would take a big fall to break today). 2) MACD working on but has not confirmed a bearish divergence 3) Willy overbought 4) We are about 5% away from the 200sma. I recon this will act like a magnet to pull the XJO higher, but then once we reach it, I recon we'll see some resistance. Could that then turn to support? Only time will tell.
DJIA - Dow Jones testing 200 MA - Longs Hedge your positionsTVC:DJI is testing 200 MA, which is acting as a dynamic resistance.
Longs may start to hedge their positions here.
J2303 - # ALSI Observation- We are back at levels last seen end of February and breaking through the 200ma
- Yesterday's close ended on its highs
ADRO C&H + Wedge BreakoutPrice has broken out of a wedge pattern that comprises the handle portion of the C+H. Consolidation in handle/wedge has occurred above an upward sloping 200 day SMA which had acted as resistance for 4+ years. MACD bullish cross occurred 5/21. It is a buy on a pullback to the breakout level around $3.15. Stock must stay above $3 for me to maintain a bullish bias. Price target of $5, I wouldn't settle for anything less than $4.30.
$SDC has to stay over 200 for $10.78 gap As soon as stays over 200 MA, it can easily fill the gap and go over $10.78 - LONG
Euro Breakout -> EUR/USD > 1.10 & 200 DMAPrice dynamics have turned much more bullish on a decisive break of the 6-week trading range.
After such a long sideways period, I'd expect this move to continue towards 1.12 with minimal pullbacks
SPY Hangman or FakeoutYesterday the SPY broke above an important level (GAP) at 302. It also confirmed two consecutive days above the 200sma. Interestingly enough on the last close it printed a bearish hangman candlestick. It'll be interesting to see what happens into the end of the week. If we can keep above the 200sma and print a proper bullish structure (double bottom etc), then the potential upside is pretty impressive. If we break down through the 200, I recon we get stuck in a trading range somewhere between 290s-300.
Broke out of wedgeJust passed over 200 ma and continuing to rise. Let's see how far we go. 3090 would be my next level.
BTCUSD Weather Forecast; a Bearish rainy Memorial Day Weekend On the 4 hr chart, BTC has printed a Bear Flag or (ascending bearish wedge ), and also about to run into the converging 50MA & 200MA. It is testing the bottom of our 2.5 month long, ascending recovery channel, the RSI is showing us Bearish Divergence since about April 30th. We could easily retest 8200 and step down to 7700 & 7300.
Bearish Bitcoin PotentialLooks very bearish when you invert the chart. It needs to trigger itself of course. If it crosses the last high then forget it since it will become like a broken bottom.
LINKBTC Uptrend| Structural Support| 200 MA Pivot Today’s Technical Analysis – LINKBTC - trading in a clear long term uptrend putting in consecutive higher lows.
Points to consider,
- 200 MA support confluence
- Double top resistance
- Structural support (trade location)
- Stochastics projected own
LINKBTC has been respecting the 200 MA where a retest usually ends with an impulse move up. Structural support is in confluence, solidifying a trade location, price is likely to pivot at this region.
The double top resistance is a visual target if support is respected, break above this will lead into a blue sky breakout.
Stochastics is currently projected down; the RSI is not officially oversold, indicating further downside momentum likely.
Overall, in my opinion, a valid long entry at structural support is a decent trade idea with clear risk mitigation.
Invalidation will be below the recent swing low under structural support
What are your thoughts?
Please leave a like and comment,
And remember,
“It’s not whether you’re right or wrong that’s important, but how much money you make when you’re right and how much you lose when you‘re wrong.” -George Soros
ABC Correction Completed for GBPUSDGBPUSD has been ranging for almost 2 months after the completion of a motive wave.
The market has ranged and completed multiple waves and it seems to have completed an ABC correction.
2 months worth of consolidation is pretty extensive and thus the belief that a trend is coming soon.
So here's a fair amount of reasons for traders to buy GBPUSD again, while at the same time, the market is moving towards tho 200MA for a retest in the weekly timeframe.
oil will fall, it's a matter of timeHello everyone, so on my chart, you can now see a repeat of the price movement, namely starting from 2012 (as indicated on the chart) and a possible intersection of the two-day moving average or, as usual, the appearance of the death cross
BTC tested 200MAHello,
I have to admit that I was expecting a correction, but not a big dump like this(it happened in a matter of minutes). Overall, we are talking about a 20% correction in just 2 days. I'm ok with that because I've bought at 4.4k in the spot market; although the futures account took a loss, stop-loss being triggered by the price fall.
Bitcoin tested the 200MA, and got rejected really fast. The speed of rejection is a good sign, but BTC need to exit quickly the proximity of 200MA because this zone works like a magnet(many traders and bots are using moving averages to decide which positions to take), and the price can slide beneath it very quickly. It tends to work as a battlefield.
Let's wait and see. I'm neutral at this moment, even dough the price reenter the descending channel.
Good luck with your trades!
Sisif
USDCAD - Which Factors give Pressure to the market?Hi Traders!
The market is clearly in a downtrend.
It is making lower highs and breakinf structure to the downside.
We here have four pressure factors:
The first pressure comes from the Resistance,
the second Resistance is the Trendline,
the next important thing is that the market is in an overall downtrend and
the last thing is the 200MA.
The entry trigger is the break of the Trendline.
We recommend to wait for a retest!
Thanks and successful Trading :)!
CHFJPY SHORT4 HOUR - Rejection of the descending trendline, 100MA, 200MA and the 0.71 FIB.
Failure to close above the resistance.
SPX Rising Wedge|Stochastics bearish Div|.618 Fib Resistance Evening Traders,
Today’s technical analysis – S&P 500 lndex – breaking out if its rising wedge structure, respecting strong upper resistance, it is likely to establish a macro lower high.
Points to consider,
- Bearish trend structure
- .618 Fibonacci Resistance
- Local Support retest
- RSI testing 50
- Stochastics bearish divergence
SPX Index is in bear trend with this macro lower high likely to be set due to the break of the rising wedge.
The .618 Fibonacci is current resistance, travelling below it is considered to be a bear market, a break above and consolidation will negate this narrative as this will also take out the 200 MA.
Local support is likely to be tested as this is the next structural trade location, bulls need to defend this level.
The RSI is likely to break 50, where trading below will increase the probability of a bearish bias. Stochastics on the other hand is clearly showing a valid bearish divergence, indicating momentum shifting bearish.
Overall, in my opinion, SPX is due for a correction, breaking this rising wedge increases the probability of putting in a lower high.
The trend is still developing, but these are early signs of momentum running out for the bulls.
What are your thoughts?
Please leave a like and comment,
And remember,
“A peak performance trader is totally committed to being the best and doing whatever it takes to be the best. He feels totally responsible for whatever happens and thus can learn from mistakes. These people typically have a working business plan for trading because they treat trading as a business.” - Van K. Tharp
USDJPY - After the calm comes the storm - Breakout ideaHi Traders!
As you can see the market is in a downtrend.
The market is respecting the trendline which is coming from above.
The second area the price gives value is the support at 107.300.
The third thing you should consider is the 200 EMA, which is also above the market.
In addition, the market is in a consolidation - ranging in the 1H timeframe.
The support is getting weaker and weaker.
Why? Because: The more the price tests a level, the weaker the level gets!
How do we know there is calm in the market?
If you look to the volume indicator at the bottom of the chart, you'll find out that it is decreasing.
If you weigh out all these information together, you'll get the result, that the market is shortly before the breakout.
We recommend to sell the breakout with a confirmation (retest).
Thanks and successful Trading :)!
NZDCAD SHORTWe have had a rejection of the 50MA, if we get closure below the 200MA and 0.786 FIB, will be looking to go short on this pair.
GBPCHF SELLLovely long wick rejection from the 0.786 FIB and descending trendline.
Would like to see break of the EMAs to confirm a short position on this
GBPCAD SHORTBreak and retest of ascending trendline, rejection of 50MA, 0.618 FIB and the previous support, now turned into resistance zone.
Looking for a sell down to the 200MA which lines up with previous descending trendline
