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Bitcoin - The halving breakout!Hello Traders and Investors, today I will take a look at Bitcoin. -------- Explanation of my video analysis: On the Bitcoin chart there are actually only three lines which you need to draw: First you have a horizontal structure at $16.000 which Bitcoin perfectly broke towards the upside with the last cycle in 2020. Furthermore Bitcoin is creating an ascending trendline - always rejecting towards the upside - and there is also a horizontal structure at the $67.000 level. Just don't get caught up in the short term moves. -------- Keep your long term vision, Philip (BasicTrading)
BITSTAMP:BTCUSD
by basictradingtv
2
possible Head & shoulder patternthere is a possibility that nifty smallcap 250 can for a head and shoulder pattern here, which can bring it down by total of 11%, and 7.7% after the formation gets completed. It is very likely that the market will not complete this pattern, but just for awareness and availability of different perspective I wanted to post about it. also, please do not take any decisions too quickly based on this as patterns are for very short term but in the long term I'm still very bullish on the midcap and smallcap index.
NSE:NIFTYSMLCAP250
by anmol18888
S&P500: Breather 😮‍💨The momentum in the S&P500 chart slowed down yesterday. With a view to the upper price target, however, there should still be room for further expansion in the current phase of the turquoise wave 5. Once the high has been placed, a larger corrective movement is on the cards. Please note our alternative scenario (38% probable). This option suggests the possibility of an already intact wave-2 sell-off. This scenario will be activated if the price falls below the support level of 4964 points.
CME_MINI:ES1!Long
by MarketIntel
Canadian Dollar Futures Trading Plan and ExplanationAfter analyzing options trades on CME, we found a promising opportunity to short Canadian Dollar. The option contract is for April with an expiration date of April 5, 2024. We noticed an interesting option portfolio on March 22 that aligns with the trigger level on the futures chart (refer to chart). A trigger level is a graphical pattern on the underlying asset that prompts traders to take or avoid specific trading actions. For the Canadian futures chart, the trigger level is the price breakdown of the local resistance at 0.7403-0.07406. Opening long positions at the breakdown point was encouraged by the bullish shape and intensity of the candlestick with minimal shadows. This level was attractive for making purchases for both chartists and adepts of candlestick analysis. The study of options trading has revealed that these levels are useful for opening counter positions when the price reaches them. To execute this strategy, smart traders use naked options in advance, specifically PUT options with a strike of 0.74. By utilizing the leverage effect of options, traders can create substantial short positions on futures contracts while maintaining a risk-free position for a limited time. IMPORTANT! We do not expect the price to move towards the strike level. Instead, we recommend using the obtained exchange data and analyzing it to gain an edge when opening a trade, providing a better starting point and improving the risk/reward ratio.
CME:6CM2024
by ClashChartsTeam
Starbucks: Deeper! 🐳 Starbucks recently moved lower into our Target Zone (between $86.38 and $68.39), where we anticipate the low for wave (B) in dark green. In the short term, the only thing missing here should be the completion of the subordinate wave (c) in magenta. So, we still grant the stock the space to head closer to the 100.00% Fibonacci. However, it is also 35% likely that our Zone will be undercut. In this case, we would anticipate the low of the alternative wave alt. (B) a little lower in the chart. In any case, as soon as the $89.73 mark is crossed, that will be an important confirmation for a successful bottom formation.
NASDAQ:SBUXLong
by MarketIntel
GBP/USD maintains upward despite dipping to 1.2550 post-US NFPThe British Pound continues its upward momentum against the US Dollar, however, there has been a decline below the 1.2550 mark after surging to a high in the past three weeks at 1.2634 following the release of the US Non-Farm Payrolls (NFP) report. On the 4-hour chart, the Relative Strength Index (RSI) has been trading above the 50 level and continues to trend upwards without any signs of change. This indicates stability and the continuation of the bullish trend in the market.
by Lily_Anna
GBP/USD Trades Below 1.2550 After US Jobs ReportGBP/USD is struggling to maintain its upward momentum and is trading below the 1.2550 level in the US trading session. Earlier in the day, disappointing April employment report from the US triggered a sell-off in the US Dolla (USD) and helped this currency pair reach its highest level in weeks above 1.2600. The disparity in economic data between the US and the UK has led to significant fluctuations in the currency market, creating both opportunities and challenges for investors. Looking at the chart, we can see that prices are trading around the Simple Moving Averages (SMA). The Relative Strength Index (RSI) is trading above the 50 level, indicating that buying pressure remains dominant with no significant changes, a sign of normalization. This may suggest that the market is undergoing a period of stability after the recent intense fluctuations.
by Stephen_Anders
EUR/USD Holds Above 1.0750 Despite Weak US NFP ReportEUR/USD is striving to hold above 1.0750 despite extending its upward momentum to the day's high at 1.0800. The strength of this currency pair is being supported by weaker-than-expected US NFP report, fueling expectations for an early interest rate cut by the Fed. Meanwhile, in the Eurozone, attention is focused on the European Central Bank (ECB), with many forecasts suggesting that the ECB will proceed with an interest rate cut in June, provided there are no surprises regarding inflation. This reflects concerns about the pace of price increases in the Eurozone, which are trending back towards desired levels.
by Lily_Anna
BTCUSD Analysis (4th May 2024) Crypto Analysis (4th May 2024) BTCUSD Analysis On the 4 hour timeframe, price action has swept the buyside liquidity and created a bearish BOS. There are 2 scenarios i am looking at currently. 1) Price rejects of the 4 hour OB and creates a 15 minute bearish Change of Character. Once it has done that, i will look for another 15 minute bearish BOS to confirm that the bearish orderflow on the 15 minute is aligned to the 4 hour bearishness. 2) Price continues bullish and breaks past the 4 hour OB. If that is the scenario, i want to see a body candle close above the OB, before looking for a break and retest on the 1 hour timeframe to potentially continue higher. Further confirmations like a 5 minute bullish CHOCH after the retest of the OB will give me more confidence to look for BUYS.
BINANCE:BTCUSD
by CallistoFX
Gold Continues Steadily Around $2,300The price of gold dropped to $2,227 following the release of the report on non-farm payrolls and unemployment rate. However, afterwards, gold continued to trade steadily and ended the session around $2,300. While the price remains in a downward trend, there is potential for short-term recovery as it approaches the trendline. Nevertheless, if the price continues its downward trajectory, dipping to $2,300, there is a significant risk that the downward trend may persist strongly in the near future
OANDA:XAUUSD
by Stephen_Anders
1
XAUUSD: Gold Maintains Stability Around 2,300 USDGold recorded a slight increase to near $2,230 in Thursday's US trading session, amidst optimistic market sentiment, declining US treasury bond yields, and a weaker US dollar. In the Asian trading session on Friday, the price of gold continued to maintain stability, fluctuating around the $2,300 mark. Based on technical analysis on the 4-hour chart, the Relative Strength Index (RSI) still remains below 50, indicating that the optimism is not yet fully stable. However, there are signs of recovery, with the RSI expected to rise to the Fibonacci 0.5-0.618 range. This presents an opportunity for further price increases, likely to attract the attention of investors.
OANDA:XAUUSD
by Stephen_Anders
10