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The place on a chart where the bulls come out to party - AND WHYThe SMH is the semi conductor exchange traded fund (EFT). This chart is a perfect example of the place where traders can generally count on a bull bear battle. When price is falling, the human nature tendency is to think what's happening now will continue to happen in the near term. All charts act and react the same way. In fact, Mrs. Market is simply running a test of an important area where it will be "show time" for a bull bear battle... This example is a "breakup candle low" which is an important spot on all charts, all time frames where a test is normal as is a bounce, at least for a trade, or more... This and many other concepts are discussed InsideTheNumbers LIVE and our nightly common sense market analysis videos on YouTube
NASDAQ:SMHLong
by mktforecast
BluetonaFX - GBPUSD Potential Head and Shoulders BreakHi Traders! We have a potential Head and Shoulders break on the GBPUSD 1D chart. The price action is telling us that there is a bearish bias due to the market having lower highs and lower lows; additionally, the market is also below our 20 EMA. We are looking for a break and a close below the neckline at the 1.25479 area which is August 2023's low. As long as we remain below the 20 EMA (we MUST stay below the 20 EMA) our bearish view will continue. Please do not forget to like, comment, and follow, as your support greatly helps. Thank you for your support. BluetonaFX
by BluetonaFX
1
BluetonaFX - USDJPY ABCD Pattern WarningHi Traders! There are potential warning signs that the outlook for the US dollar is not as strong as we hoped. Bad data has been coming out of the US this week, leading to traders being very nervous about tomorrow's NFP announcement. This technical analysis on the charts also supports this. The market is currently in an ABCD formation, and the demand zone at the 145 level, which has been very strong over the past few weeks, must hold here; otherwise, there is a risk of a potential reversal of the bullish trend. Last week, we posted a bull flag opportunity and stated that the market must break and close above 146.564 for a possible continuation towards 150.000, which the market has yet to do. This pattern is still in play, but the demand zone must hold. All eyes will be on the NFP announcement tomorrow, and further bad data will lead to a bearish outlook for the US dollar. We would love to hear your thoughts on this in the comments section. Please also do not forget to press the like button and follow for more updates. Thank you for your support. BluetonaFX
by BluetonaFX
BluetonaFX - SILVER Diamond Pattern BreakHi Traders! There has been a diamond pattern break on the Silver 1D chart, and there is potential for a re-test of the strong resistance level at 25.262. Silver has been on a bull run since it found support near the long-term 22.117 level, and there was a momentum break to break and close outside the diamond pattern to complete the break. We are now looking for further communication towards 25.262. If the market reaches this level, we expect strong resistance here again, as the market has not been above this level since May 2023, so there may be potential selling opportunities near this level. We would love to hear your thoughts on this in the comments section. Please also do not forget to press the like button and follow for more updates. Thank you for your support. BluetonaFX
TVC:SILVER
by BluetonaFX
4
BluetonaFX - USDJPY Potential Bull Flag PatternHi Traders! There is a potential bull flag forming on the 1D USDJPY chart. Our bullish outlook on the US dollar continues, and the potential bull flag here is supporting this. We are currently in the flag channel, and we are looking for a break to the upside of the channel. The important price level here to look out for is 146.564; this is August's high, and we must break this level to continue to the upside. A break with momentum above 146.564 and the psychological level of 150.00 will be in sight. That being said, though we are bullish, as always here at BluetonaFX, we do not get attached to a view and must be ready to adapt at all times. If 146.564 does not break, the potential bull flag will fail and the market will most likely pullback, so we will look for selling opportunities around this level. Please remember to like, comment, and follow, as your support greatly helps. Thank you for your support. BluetonaFX 
by BluetonaFX
7