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BTCUSDT. Short and medium term analysisHi traders! You can consider buying if the buyer protects the hourly level of 35086.57, the daily levels of 33390.95 and 31804.2 (associated with exiting the sideways market) and the medium-term support level for the long-term trend at 24800. As for selling, there is currently no context. Take note of the 10D timeframe. After breaking out of the sideways market that lasted from January 2021 to May 2022 and initiating a short-term trend (with two waves), the price returned to the sideways range (with the lower boundary at 26700). If the buyer defends the last closed candle, then technically, the path is open to 40000, 48000, and 59000.
by AlexeyWolf
2
S&P 500 Index. Is it time to short?On the weekly chart, there was a sideways movement from May 2022 to June 2023. It had a breakout with an upward trend (two impulses). The price returned to this sideways range six weeks ago. For the past four weeks, it has been hovering near the upper boundary of the sideways range, unable to close any weekly candles above it. There's a high probability that the price will test the lower boundary of the range at 3636. I made this note a week ago; it's time to update the forecast. On the weekly chart, there are two seller candles on increased volume, which created a seller interest zone with the lower boundary at 4204.3. The most recent weekly candle closed within the historical weekly buyer interest zone with the upper boundary at 4141.8 (historical zones typically don't result in strong reversals). It is possible that the buyer will return from the zone and test the current seller’s zone with the lower border of 4204.3. On the daily chart, the price broke below the lower boundary of the daily sideways range with increased volume. The lower boundary of the daily sideways range coincides with the lower boundary of the current seller interest zone on the weekly timeframe (4204.3), which the buyers haven't yet tested on the daily timeframe. Pay attention to how the sellers closed the daily candle on October 26, 2023. They approached the historical buyer zone and waited for a buyer resurgence. On October 27, 2023, buyers attempted to make a comeback (as seen in the wick of the candle) from this historical weekly zone. However, sellers effortlessly prevailed over buyers on falling volume. There was no buyer at the lower boundary of the daily sideways range, and currently, there is still no buyer. Sales can be sought from the current seller's zone, including protection by the buyer at the level of 4204.3 or from the candle on 26.10.23. The target is 3696.2. The first obstacle for the short position might be the 50% of the latest weekly momentum. As for buying, there's no context for it at the moment. Good luck with your trading! Disclaimer: This case study is for educational purposes only and does not constitute investment advice or recommendations. The trading or investment ideas presented here are for illustrative purposes only and are an integral part of a case study demonstrating the concepts of using volume to analyze or trade within the market scenarios discussed.
OANDA:SPX500USDShort
by AlexeyWolf
MSFT. Forecast especially for my beloved brotherEspecially for my beloved brother, who likes Microsoft (MSFT) stocks. On the weekly chart, we have a sideways pattern. The price has played out vector 10-11 and is currently forming a bearish vector 11-12 within the sideways range. The daily chart also shows a sideways pattern. The bearish vector 9-10 has been technically played out. However, a significant selling zone has formed almost throughout the sideways range, triggered by the candle on 25.10.23, which incidentally had the highest trading volume in the last 3 months. The zone was tested by the candle on 27.10.23, The seller resumed from the zone, as indicated by the candle's wick. The most likely scenario is for the price to break out of the daily sideways range to the downside (lower boundary at 324.39), protect this breakout, and play out the bearish vector of the weekly sideways pattern. Targets for short positions: 309.5 - the lower boundary of the weekly sideways pattern. 295 - the extremum pierced by the candle on April 24, 2023. 275 - the buyer's zone at the lower boundary of the monthly sideways pattern. If a buyer emerges at the lower boundary of the weekly sideways range, targets 2 and 3 may become irrelevant. Good luck with your trading! Disclaimer: This case study is for educational purposes only and does not constitute investment advice or recommendations. The trading or investment ideas presented here are for illustrative purposes only and are an integral part of a case study demonstrating the concepts of using volume to analyze or trade within the market scenarios discussed.
NASDAQ:MSFTShort
by AlexeyWolf