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Technical study of this INSANELY powerful bull market!Once again, the indices are rising strongly. While the SPY is heading towards its all-time high, the QQQ and the Dow Jones ETF are already breaking a new all-time record, again. When will we see the market calm down again? What if a top signal appears on the indices? The SPY ETF is in a clear uptrend, making rising tops and bottoms, breaking its resistances and trading above the 21 EMA (which is pointing upwards, by the way). The next technical resistance is at $479.98, the all-time high. Are there any signs of a top in the SPY, either from a candlestick pattern or a chart? None that I know of. On December 14th we had an attempt to signal a top, a sort of Hanging Man pattern. The problem is that the pattern wasn't even triggered, as the price had to lose and close below the low of the Hanging Man candle. This corroborates what was said in my educational analysis on SPY. Many people try to guess the top based on weak technical patterns, they get scared of one or two bearish candles even without confirmation of a correction. The link to our latest public study on SPY is below this post. Furthermore, according to Thomas Bulkowski's studies, the Hanging Man pattern serves as a bullish continuation pattern 59% of the time, contrary to the popular belief that it is a bearish reversal pattern. Perhaps this is because of the hourly chart. The vast majority of the time, a Hanging Man only serves as a short-term pullback to a support point. In this case, looking at the hourly chart, we see that after the 14th, highlighted in yellow, we see a correction to a support area, made not only by the 21 EMA, but also by a trend line that connects the bottoms in SPY since December 6th. As SPY approaches its high, we see QQQ and DIA trading above their previous high of 2021/2022 (green lines). There is no evidence known to me that could trigger a correction yet. The uptrend should continue in the absence of clear signs of a reversal. Remember the sixth principle of Dow Theory: Trends persist until a clear reversal occurs. What if the indexes correct? Then the price should seek its previous supports. In the case of the SPY and QQQ, the 21 EMA is a good candidate for a bottom. The DIA could correct up to $369.50, its former resistance, which in theory will be a future support, according to the principle of polarity. This scenario describes a pullback, not a reversal, as there is no possible bearish reversal structure on the indices yet – there isn’t even a top signal. What could trigger a bearishh reversal? If a bull trend is made of higher highs/lows, then if we see the price making lower highs/lows, and if it loses the 21 EMA on the daily chart, then we'll know that the trend is reversing. However, I do agree that if the market calms down, now the timing would be perfect, as the indices are all trading around their all-time high, a critical price level for the market. I’ll keep you updated on this, so remember to support this idea if you liked it, and follow me for more. Best regards, Nathan.
AMEX:SPY
by Nathan_The_Finance_Hydra
2
Nifty Give a Breakout of Life time.Nifty has given a proper lifetime breakout on Friday. This Breakout has opened channel which can take Nifty towards 20700+. Resistances on the way will be at 20445 and further at 20734. Supports for Nifty will be at 20013 and 19675 on a weekly chart. These projections will be valid if Election results will be similar to Exit Poll results. If there are results which are against the popular trend and in antithesis to the Exit Poll results, we can see a mild or massive sell off too. So be watchful of the Assembly Election results.
NSE:NIFTYLong
by Happy_Candles_Investment
Theta Network (THETA) Aiming To New All Time HighSince October 19, THETA has increased by 50%, primarily due to the upward trend on the BTC chart, which remains a driver for the entire cryptocurrency market. Last night, the price of THETA surged by 15% once again, setting a new local high at $0.833. Buyers still have a greater influence on the Theta Network price than sellers, making a continued upward scenario a priority. The next targets for buyers could be the resistance levels at $0.85 and $0.87, although it would be preferable to see some stabilization of the rate in a sideways range between the support zone of $0.723–$0.745 and resistance of $0.795–$0.833. In case of a correction, THETA could drop to levels of $0.703, $0.688, and the narrow demand range of $0.660–$0.675. All of these marks are part of the upward trend, so testing them could be a logical step before moving to new highs.
CRYPTO:THETAUSDLong
by DEXWireNews
BTCUSD $100K Nov $200K JanWe have a similar three candle consolidation like the one seen before breaking out of the $20K ATH (Dec 14 '20). This week has just begun, and it's already breaching the ATH from April. There was a new ATH around $67K from Oct 18, but that was short-lived; the candle didn't close above the previous ATH range. So it didn't do much from a market structure perspective. It is still acknowledged, though, by using a thicker resistance line. Using the fractal starting from the Dec 14 break-out, we see potential for: - BTCUSD $100K before November ends - BTCUSD $200K towards year's end
BITSTAMP:BTCUSDLong
by givanse
SRHHYPOLTD Looks good for positional trade.Aim for 5-8%. It can be easily achievable in 1-3 days. My belief is to choose high winning probability trade with a risk-reward ratio going from 1:1 to 1:2. The reason for booking profit of only 5-8% is because the market direction is not sure at this point. So better to aim for 1:1 risk-reward and rotate your money in better opportunities. Take trade if all conditions meet at the end of the day 3:15-3:30 PM. If you have any questions or suggestions, please leave a comment below. I will personally reply to every single comment! If you enjoyed this analysis, I would definitely appreciate it, if you smash that like button and maybe consider following my channel.
NSE:SRHHYPOLTDLong
by Chartmaniac
US30 - Seasonality push towards ATHSince the ATH of the Dow and other indices were created, we've seen a major sell off, at around -10%, not making it a BOS towards a bear market which would have to be at around -20% or so. From that up until now, price action has been following the seasonality charts pretty on par. Based on technical analysis (look markups), seasonality, and other confluence, we can anticipate the market to give us a rally higher more towards the ATH closing out February. Clear upside targets of liquidity in the form of retail positions, institutional positions, and imbalances, so all in all, looking for the BOS towards the upside so we can catch the clean, low risk, high reward re-test entries. With a lot of news in this week as well, we can definitely anticipate a lot of market manipulation for the institutions to close out positions making aggressive moves. Looking at the confluence and confirmation checklist, we have: Daily direction - Ranging higher with higher highs and higher lows Structure - still looking bullish on the 4h, lots of liquidity grabs and meaningful mitigations that have been filled towards the downside, using the news as an excuse. Still looking for upside targets. The indices are currently correlating with each other, all giving a hidden bullish divergence with price combined with the RSI on the 4 hr, which is something to keep in mind. Entries - Using the lower time frames 1h - 1m for order flow, we can get the best possible entries with low risk high rewards, ranging from possible 5:1 - 20:1. CONFIRMATION CHECKLIST TO ALIGN YOURSELF WITH SMART MONEY: 1. Awareness & intention 2. Structure / Wyckoff 3. Liquidity (Retail money 🐑) 4. Institutional Positions (🐳🐳🐳) 5. Imbalance 6. Break of Structure 7. Mitigation (Zone of interest 🔫) 8. Divergence (Correlations) Good trading, Jørgen - Topearnertrading
OANDA:US30USDLong
by topearnertrading
Sunteck realty positional viewThe stock of Sunteck realty has recently given strong breakout from its ATH levels of around 535. It has given a retest of the breakout level and currently consolidating from past few days. We can see a fresh upmove above 590-595 levels.Also, stock can be accumalated at current price and added on dips upto 535 as Realty sector is expected to perform good in the next 2-3 years This is just for educational purposes and my personal view based on technical analysis.
NSE:SUNTECKLong
by chartistamey
Splitting the ATOM (Long-term Analysis)ATOM has been performing well despite the rocky road BTC is paving. In its previous breakout, ATOM formed a cup & handle pattern which resulted in a strong breakout. It looks like ATOM is performing a similar pattern which began at the end of Oct 2021. - It dropped from a high; - It paused when it dropped from the high which rounded the bottom of the cup; - It is re-testing the high at the beginning of the cup; and - The volume on the right side of the cup is on average lower than on the left A small retrace in price can occur to either the 78.6 or 61.8 levels followed by a breakout to complete this bullish pattern. In the event of a strong breakout ATOM could make its way to the 161.8 fib forming a new ATH. On the other hand, ATOM could do what NEAR token is doing and simply keep moving up and breaking its resistances with ease. Never buy at an ATH. Which scenario do you think is most likely? Please note I am not a financial advisor and this is not financial advice. All ideas are for educational purposes only :) Please feel free to leave your comments, questions and thoughts below!
Long
by kush23456
Fantom FTM Usdt breakout and retest of the all time highmessage me for any questions, here i am using ichimoku, concencio moving averages and the resistance of the ath where i believe there is space for the price to move freely into and retest the All time high here. we may also see a break out from the all time high having looked at the weekly chart, FTM hasnt really been affected by this downturn too much in the market and still is bullish printing a no, 1,2 and now 3 bullish candle (on the weekly Tom demark sequential) My game plan here is to see a no8 print close to the resistance of the ath, take some profit, leave the rest, use trailling stop and wait for a break of the ATH.
BINANCE:FTMUSDLong
by cryptouk
9