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Fantom (FTM): Bullish Setup with Strong Support Levels!Looking at Fantom on the daily timeframe, we see a promising setup following the completion of Waves 3 and 4. Wave 4 ended around $0.567, and since then, we have observed a consistent formation of higher lows. This pattern suggests a continuation of the upward trend. The recent rise has left behind a breakout gap. Our plan is to see this gap touched or closed, and subsequently, we aim to use the underlying demand zone for Dollar-Cost Averaging (DCA) if further pullbacks occur. Within this area, we have two significant supports: the Point of Control (POC) and the High-Volume Node Edge. These levels should provide enough support to prevent the price from falling below this range. Our target is set at a minimum of $1.22, though it could go higher, considering this is likely Wave 5. This target aligns with the expected continuation of the bullish trend as indicated by the Elliott Wave theory. It is relatively easy to see that there are many liquidation levels above the current price for FTM. Significant liquidations have already been taken out, particularly just shortly after the ETF approval when many overleveraged positions were liquidated. Currently, there aren't many liquidation levels below the current price. Therefore, we believe this might be a good time to dip again to clear out any remaining liquidation levels. After that, we expect to absorb the remaining short positions and push upwards. There is significant room to move higher, reaching our first target and potentially taking out more liquidations along the way. Focusing on Fantom (FTM) on the quarterly VWAP chart, the 2024 Q1 VWAP has acted as a significant resistance level, respected four times. This consistent resistance often becomes a powerful support once broken, marking the start of a bullish phase. We anticipate the 2024 Q1 VWAP will transition from resistance to support, signaling strength and potential upward momentum. Additionally, the 2024 Q2 VWAP is providing strong support, reinforcing our bullish outlook and underpinning the price action. With the combined support from the 2024 Q2 VWAP and the potential flip of the 2024 Q1 VWAP, Fantom is poised to gain momentum. We expect this to drive the price upward, leading to a retest of the 2024 Q1 VWAP soon. In summary, the interaction between these VWAP levels is pivotal. The 2024 Q1 VWAP is likely to become new support, bolstered by the 2024 Q2 VWAP. This setup suggests Fantom could move higher in the near future, retesting and possibly surpassing previous resistance levels. We also need to consider the monthly VWAP chart for Fantom (FTM). Resistance was encountered between $0.915 and $0.925, defined by the Previous Monthly VAH and the March VWAP. Currently, the May VWAP is holding, along with the Previous Monthly VWAP. However, we might fall below this level, where the Previous Monthly VAHL and May VAL should provide support. This alignment offers solid support and aligns with market structure and Elliott Wave principles. Maintaining these levels is crucial for sustaining the bullish outlook and allowing the market to stabilize before moving higher. Holding the May VWAP and the Previous Monthly VWAP shows Fantom's resilience, potentially facilitating upward movement. If a dip occurs, support at the Previous Monthly VAL and May VAL should stabilize the price and provide a foundation for the next bullish phase.
Long
by freeguy_by_wmc
Bitcoin Analysis #1: Simple Plan & Strategy During the Bull RunWe can clearly observe that we are once again in an uptrend, which is certainly encouraging news. This resurgence makes a break below the current low of November 2022 at 15k seem unlikely. Thus, we find ourselves in a new bullish cycle, with a potential target of at least 100k. Personally, I believe that aiming for 150k to 250k in this cycle is quite plausible. This signifies numerous new opportunities in the realm of Bitcoin and cryptocurrency. Many altcoins are currently trading at lower levels, presenting a favorable opportunity to invest in the cryptocurrency market. Although, it's important to adhere to rule number one: avoid succumbing to hype and exercise patience . It's crucial to wait for an opportune entry point, ideally during a dip with a confirmed reversal pattern, or a breakout from a trading pattern within a favorable price zone. This is the essence of prudent trading. However, reaching the 100k mark won't occur immediately, especially without a significant pullback. Presently, it's ill-advised to enter the market, as mentioned earlier. In both investing and trading, patience is key, and it's better to miss out on an opportunity than to enter into a risky one . For me, now is the time to secure profits and reassess the market for a better entry point. The zone between 59k to 82k presents an opportune window to take profits, particularly if there are signs of a reversal pattern or divergence. Alternatively, one can progressively secure profits within this range and wait for a re-entry opportunity between 40k to 23k. Subsequently, it's prudent to await entry confirmation, such as a reversal divergence or another preferred indicator. Alternatively, one can gradually enter the market with buy limits at various levels between 40k to 23k. Regarding shorting, it's advisable to wait for a break above the previous all-time high. An entry for a short position can be planned between 70k to 82k, contingent upon identifying a suitable trading pattern. Profit-taking can occur at 50k, with the majority or all of the profits being realized at 40k. While it may be tempting to hold onto positions for potentially higher gains, it's essential to prioritize safety . At least 50% of profits should be secured at 50k and 40k levels. For me, a break below 18k confirmed with a weekly close below signals a significant shift. However, this doesn't necessarily imply selling Bitcoin outright. Instead, it suggests that new all-time highs may not be imminent , and we could potentially be entering a new downtrend. Nevertheless, Bitcoin remains a stable asset, providing the option to either hold or await a pullback to exit positions. This exemplifies the approach of smart trading. I'm back on TradingView, and I appreciate your support by liking my post. With your encouragement , I'll continue to provide more frequent updates on major trading pairs , perhaps even on a weekly or monthly basis. This post was crafted diligently by myself, taking over an hour to compose. I only utilize tools for text correction, not for generating content. Therefore, if you'd like to see more updates, please follow me. Thank you sincerely for your support.
BITSTAMP:BTCUSD
by LegoTonix
AJG: Entry, Volume, Target, StopEntry: with price above 219.23 Volume: with volume greater than 955k Target: 243.31 area (this is an area, no guarantee it reaches this price, but you should be selling on the way up) Stop: Depending on your risk tolerance; Based on an entry of 219.24, 207.22 gets you 2/1 Reward to Risk Ratio. This LONG swing trade idea is not trade advice and is strictly based on my ideas and technical analysis. No due diligence or fundamental analysis was performed while evaluating this trade idea. Do not take this trade based on my idea, do not follow anyone blindly, do your own analysis and due diligence. I am not a professional trader.
NYSE:AJGLong
by tradepatiently
BRK.B Entry, Volume, Target, StopEntry: with price above 364.63 Volume: with volume greater than 5.4M Target: 382.41 area (this is an area, no guarantee it reaches this price, but you should be selling on the way up) Stop: Depending on your risk tolerance; Based on an entry of 364.64, 355.75 gets you 2/1 Reward to Risk Ratio. This LONG swing trade idea is not trade advice and is strictly based on my ideas and technical analysis. No due diligence or fundamental analysis was performed while evaluating this trade idea. Do not take this trade based on my idea, do not follow anyone blindly, do your own analysis and due diligence. I am not a professional trader.
NYSE:BRK.BLong
by tradepatiently
Dollar/Yen Early 15minute Entry from a Daily setupI decided to go as low as the 5minute timeframe for an entry into this Bullish Pair. As I noticed price respecting structure creating higher highs and higher lows on the 1hour, 30min and the 15 minute time frame, I felt very confident going Long upon a retest of any support along with a reversal candlestick. After a 30 min higher high and a retest on the buy side of a strong correction trendline, I decided to go Bullish immediately. This entry is very tight considering the fact that this is a DAILY setup. My target projection is -27%. @ 138.700 of a Daily 78.6 retracement. My stop loss is beneath the prior 1H low as I notice price respecting structure @ 134.357. Risk to reward was excellent at 13.7
Long
by DesharedPierreJr.
Sell Entry example - Supply and DemandHere is a sell entry example i have put together to show you what i look for in the market when looking for a continuation entry After an impulsive move in either direction we would expect to see a correction, then another impulsive move. The initial impulse move shows us that a lot of volume has entered the market and for this example that the sellers are in control. When this happens we want to capitalise on the next move down and the best way to do this is to be patient and wait on a correction forming so we can get a good high probability entry. This can be applied to all time frames as well as buy or sell
Education
by TradingElements_
Emini S&P 500 (ESH2022) *Entry*Lows Were Swept from the previous *Prediction* Analysis and as I anticipated. There was a swing high that was formed at around 9:00 am LA Time which got broken causing an ICT Market shift Model where I took an Entry at the lowest Fair Value Gap and Stop loss Just below the candle. I will be Targeting the Redlivered Rebalance and will keep you updated... I will be following These Rules. Trading Rules for ESH2022: Take 50% partials at 1R Move SL to Entry at 1.5R At 1-3 RR Close 90% Let Rest run to TP or Break even
CME_MINI:ESH2022
by quorizone
Gold 4-Hour Channel Breakout Hits TargetOur 4-Hour channel Breakout from a few days ago has reached its target. The target was the bottom of the beginning of the channel. However, we had no retrace to the neck zone, so we had no entry. I am a breakout and retrace trader, and if I see no retrace to the point of interest, I will not take a position. My thoughts on Gold now is that if support does hold around the 1782 mark, we should begin ranging in short to mid-term between support and 1810. Let’s watch and see what it does. I will be watching as always, and should a setup present itself; I will be posting it. Happy Monday!
OANDA:XAUUSD
by TheVortexTrader
2
SLV - Safe to re-enter the fraySLV weekly chart showing a prominent double bottom with the Sept low and Dec retest holding nicely. With the long term trend line lending support, it appears safe to renter the slippery silver paper waters once again. SLV will likely try to play catch-up to COPX (also shown) which has gained +20% since Dec 20th. I doubt SLV will post those high % gains but a 10% pop seems highly doable by months end or early Feb. Weekly RSI and Stoch are trending upwards with plenty room to run from here. In the shorter time frames (4 hour chart - not shown) the RSI and Stoch appear over-bought on SLV and with 4 up days in row including a gap up today - will look for an entry price on a modest pull back/gap fill into Friday of this week. Max pain sitting at $21 this Friday maximum-pain.com Not financial advice.
AMEX:SLVLong
by Akksujean
EURUSD - Looking to Long Around the .15800 levelHi everyone! I am looking at a short trade EURUSD BUY LIMIT @ 1.15750 Stop Loss: 1.15715 (Add Spread) TP 1 (1R): 1.15786 (Stop Loss→Break-Even / Scale-In) TP 2 (3R): 1.15856 (50%) TP 3 (5R): 1.16104 (/0.5) TP 4 (10R): 1.16458 (/0.5) Looking for price to bounce of this level, if it doesnt work theres another area below which i am interested in. I think this level holds significant value and should provide a good reactionary trade before continuing to the downside. towards the lower orderblock area.
Long
by lakishnarayan
4