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Candlestick Analysis

ETH is beyond bullish In the morning I saw the red candles and thought ok we broke out of the wedge, that means a longer term consollidation before the bullish breakout. But now the daily candle almost close and you see the buyers pushed the price back into the wedge pattern. So from a technical standpoint the wedge is still intact and that is super super bullish. The reason why that is a super bullish sign is that today the bears had a chance to break the wedge structure but there was not enough selling pressure to do that. A wedge pattern falling down like this almost always breakout to the upside. The wedge pattern is the right shoulder of a bigger inverse head and shoulders pattern, if you zoom out you can see it on the daily. So price is respecting the chart very good sign. Off course tomorrow they can try to drop the price again lower out of the wedge but I doubt it because you see the price is already bought up again. So fundamentally the only thing that we need is wednesday a positive FOMC meeting. And we go moon. I cannot see anything that is holding us back now.
CRYPTO:ETHUSDLong
by FX-Diaries
1
Gold (XAUUSD) - What Will Stop The Gold Bull Run?It seems like everyone is piling on the gold gravy train as it looks to make new highs in the coming weeks. With a high level of volatility entering the marketplace over the next two weeks, expect sharp market swings on the intraday timeframes and don't get caught up! Rate announcements on Wednesday, next week will be the determining factor on whether many will fly to safety or risk buying gold at the current pricing.
OANDA:XAUUSDLong
by LegendSince
EUR/USD - Tickling Old HighsParity in the euro can't come without a MAJOR event happening. In the meantime, it would be in the market makers best interests to prop up the euro short term, giving the illusion that due to euro being 'stronger' than it was a few months ago, it's the best time to invest in Europe bla bla bla... Once many of the huge funds, whale traders etc placed their stops below major sellside liquidity pools, that's when the rug gets pulled Pulled all the way down to parity! The question is, what news event will it take for this scenario to pan out?
Long
by LegendSince
US 10Y Yields - Chasing Lower YieldsAssessing the weekly range, from low to high, it is clear to me that the yields is still trading in a premium and with major liquidity pools attacked to the upside, it's only a matter of time we see a cooldown period. Below 4.469% is regarded as a discount and it might take several of weeks to pan out but I would like to see the weekly bearish consequent encroachment @ 4.735% respected with 4.809% being the last line of defence.
TVC:US10YShort
by LegendSince
ONDO Gearing Up for a Breakout: Will $2 Be the Next Stop?Hello, Traders! After rising 250% since November, ONDO dropped 40% from its top and is currently recovering from that downfall. The ONDO price is approaching its first resistance at the $1.61 level, and if it manages to break through, the road to $2 will be open. A successful breakout above this level could trigger increased buying pressure, pushing the price toward current ATH. There is a high chance that we will see this rise in February, especially if BTC.D drops below 57%, signaling a potential capital rotation into altcoins. Additionally, strong market sentiment and favorable macro conditions could accelerate ONDO growth, making the next few weeks crucial for its price action. Please don’t forget to boost this idea and leave your comments below.
by Real_CryptoRoy
6
Nifty trying to stage a comeback but important hurdles coming upNifty is trying to stage a comeback but there are important hurdles coming up 23328 and 23883 has a lot of obstacles for the rising Nifty based on the historical data. (Historical meaning the data which is At Least 3 months or older). The important resistances for Nifty here are 23328 (June 24 peak) followed by Father line resistance (200 day's EMA on daily chart at 23623.). The mother line resistance (50 day's EMA) which is at 23687. After we get a closing above this zone the next resistance will be near 23883. Once we get a closing above 23883 we can think of gaining back 24K levels. Supports for Nifty now remain at 22838, 22316 and 21869 which is near the lows of June 4th 2024. Shadow of the candle is currently positive but near the resistances mentioned earlier there can be pressure on Nifty. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock or index. The Techno-Funda analysis is based on data that is more than 3 months old. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. This is a spot Nifty analysis based on Historical data as mentioned earlier. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message. Do consult your investment advisor before taking any financial decisions. Stop losses should be an important part of any investment in equity.
NSE:NIFTYLong
by Happy_Candles_Investment
USD/CAD levels heading into US GDPThe strong rally from the October low has entered a sideways range, and prices have seen failed attempts to break above a prior double-top high ~1.4468. A bearish pinbar also formed yesterday beneath the double top and the daily RSI (2) is also near the overbought zone. The 4-hour chart shows a 2-bar bearish reversal at the range highs, and until we see a breakout accompanied with a worthy headline, the bias is to fade into moves below 1.4470 with for some mean reversion back towards the 2020 weekly-close high at 1.4332 Matt Simpson, Market Analyst at City Index and Forex.com
Short
by CityIndex
Russell 2000 and 50DMA: The Mix for Explosive MovesWith fresh data on US GDP and inflation arriving over the next two days, Russell 2000 futures look interesting as they close in on the key 50DMA. The index is testing minor resistance at 2312.8 in thin Asian trade, with the 50DMA not far above at 2323.5. The focus on the latter comes from its tendency to spark explosive moves once the price either breaks or bounces from it. Over this week and last, bulls have repeatedly probed the level only to be thwarted by bears, painting a picture of a stalemate that may be eventually be resolved in a similar manner. The string of doji candles since only reinforces this view. If we see a sustained break above the 50DMA, longs could be established above it with a stop either below it or at 2312.8 for protection. 2386.6—which has acted as both support and resistance previously—is one potential target. A break above that would put a retest of record highs on the table. Alternatively, another rejection at the 50DMA would be a strong signal that a bearish bias may be warranted. Mixed signals are emerging from momentum indicators, with MACD pushing higher while RSI (14) sits in a minor downtrend, though it’s threatening to shift higher. Upcoming economic data screens as important for small-cap US stocks given their cyclical characteristics and reliance on capital markets for funding. Good luck DS
CME_MINI:RTY1!Long
by FOREXcom
ASX 200: Why I'm not banking on [an immediate] record highThe ASX 200 cash market is tantalisingly close to retesting its record high set in December. Traders are betting on an RBA cut in February (and 100bp of cuts this year) which is helping to support the market. Yet I doubt the ASX will simply break to a new high without a fresh catalyst. Comparing the ASX 200 cash and futures market and their key levels, I explain why. Matt Simpson, Market Analyst at City Index and Forex.com
ASX24:AP1!
by CityIndex
3