8.18.2024 Gold Extended To ATHsGold has extended to all time highs. It has broken through out top zone, so we no longer have a top zone as resistance.
Drew a channel on the chart that it may turn at. We will need to see a change in structure (Lower Highs/Lows) in order to short it, back to out previous zone it had broken.
Extended
🟨 Climax Run - $TLRY exampleI have covered this in my education blog, but here is a great example of a Climax Run Stock
Checklist
✅ Price looks almost vertical
❌ Run occurs after at least 18 weeks of the first base. (This run is 5 weeks after first base)
✅ Rapid advancement +180%
✅ Last 8 days before drop was 7 out of 8 days up
✅ Last 2 trading days we saw the largest trading range
❌ Stock is not extended above 200d MA - since no 200 days of trading (early IPO)
❌ No Stock splits
Solana Analyze (Road Map)!!!🗺️Hi, we watched a great rally from Solana if you bought at lower prices you can hold it, but maybe you have a question, when can you take profits from your investments, I am trying to answer this question on this post, also if you don't have Solana on your portfolio you can read this post.
Solana Analyze ( SOLUSDT ) Timeframe Daily ⏰
Location 🌊: Solana has started new 5 impulsive waves at 1.030 $ 😱. it passed the Main wave 1 at 18.20$ and then start to make the Main wave 2 (The end of the Main wave 2 was at 12.3$ ). after main wave 2 , it started its beautiful rally by Main wave 3 . The main wave 3 is extended , and Solana is running on this wave.
Live : Now Solana is moving on microwave 3 of microwave 3 of Main wave 3 , I am expecting that microwave wave 4 starts soon and probably it will end 165$-147$ , then we will visit the last microwave of microwave 3 of main wave 3.
The end of microwave 3 of main wave 3 can be around 200$-218$
The end of microwave 4 of main wave 3 can be around 1 35$-165$
The end of the main wave 3 can be around 192$-205$ (if microwave 5 of the main wave 3 is Truncated (Possible)) OR 240$-250$
My Suggestion : if you want to have Solana on your Portfolio , you can concentrate on microwaves 4 👍😉.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy , this is just my idea, and I will be glad to see your ideas in this post.
Please do not forget the ✅ 'like' ✅ button 🙏😊 & Share it with your friends, Thanks, and Trade safe
bitcoin bounce to lift off MoonDonk Live !Looking to cross on a uptrend then start the mission to the moon ! However if that 42 level isn't able to hold and gain support bouncing up then once again 30's could be on the table which would confirm BTC has matured and these runs could last longer with small bear markets in between wouldn't that be fun and how long would that last what an exciting time to be alive!
Nasdaq Evening Star? 🎄 I am curious of others thoughts on this monthly candle close.
Not only the Nasdaq but Spy, Dow all closed with bearish reversal candles after a frothy year and a month of mania and extremes. Large influx of retail traders as well.
Go back and look for monthly doji reversal candles that aren’t at a top. Perhaps it’s not the too but only a significant correction or a healthy pullback.
Haven’t seen any posts of this around curios on thoughts.
BTC reversal - The other pathIn the recent post "BTC reversal", I have showed you how a normal market behave in this type of situation, that is when reversal structure appears accompanied by more patterns founded in Chartism.
Sometimes BTC do behave as a traditional market (commodities, forex, etc), nevertheless, Crypto is a special kind of market, one with very high volatility and in which is common to see over extended movements.
That's why, now, I'm sharing with you how I will trade the possibility of an over extension.
Any of both cases end up with a strong correction to the 40k-46k level.
Best of luck for every one of you !!
Thanks for your support.
Let me know what do you think.
Give me a thumb up if you feel it.
Peace and Joy
Crypto Solar
Just a theory - BTC Extended Timeframes coming into effectAs I explained in an earlier post, we noticed BTC may as well be expanding by between 1.61 - 1.68x each halving. There is also a drop in acceleration (rise in value). We may have missed it as they fit so well into the 4 year cycle theory that currently exists. Correction to 2nd peak, this is set for JAN of 2023, not FEB of 2023, but 1 month is not a focus here, it is more so just to see how accurate this can be.
But Here is a model drawn out to scale of a current theory I am working, which supports a 2nd 2 peak cycle event, (The first one not being 64k). This is only a secondary theory at this time, the principle theory is taht 64k was the primary first peak of the 2nd 2 peak cycle. Extended Timefames must be brought into play.
MRNA Low Risk Short PositionMRNA is hillariously overbought, with stochastics, EMA's, bollingerbands, MACD, and RSI on the daily chart all showing prime conditions for a short position.
Here's the chart showing those indicators:
I am going to be watching this on Monday and throughout the week, looking for a short position entrance. I played it on Tuesday for a nice $50/ share short with similar technical indicators. Hoping to duplicate that again this week. Might go debit, might go credit, not entirely sure how I'll play this yet. IVR is somewhat high for a credit trade, and since they have earnings coming up, I imagine that will continue to increase. For that reason, a debit trade might be the winner here. That said, if IVR collapses, that will hurt my trade.
Still formulating the exact plan, but I am going to play MRNA short in some capacity.
I am anticipating a retracement to the $300.00 / level in the short term at $250.00 in the next few months.
HOW-TO Know This Chart Is EXTENDED? The Stock market overall is VERY extended
You might hear this term being used a lot these days.
For beginners, it could be a confusing thing.
In trading we like to time our entries. We don't want to buy something when its "too expensive"
In Chart terms, an expensive stock is one that has trend strongly for a period of time and showing signs of Exchaustion or Reversal
In this video I try to explain what makes a chart an "extended" or "Over Priced Stock"...
I use my Indicators and Chart pattern to answer this question.
Let's see how!!!
Stay Away From TROUBLE And Win!! - 05/27/20 RECAPHi traders,
it's typically like a holiday for us traders when the market (SPY) moves strongly to one side as it did after Wednesday's open. But in current uncertain times (see my vid. "Indices Will Start Falling When...") you can never be sure of the genuity of such move. We saw exactly that yesterday. A V-shaped reversal and straight back up, ending the day positively!
This was why I stood away from the initial scrum and eventually found a profitable long opportunity later in the day.
Trades:
1) SIX - LONG @26.81, closed 1/2 earlier and raised SL. +1.30%
*In my ID trades, I risk 1% of the account per trade and go for 2% (2:1 RRR ). Sometimes I adapt a little bit as you can see in the trades' description.*
Total PnL for the day: +1.30%
Total PnL for the week: +0.60%
Good trades,
Tom | FINEIGHT
INDICES Will Start FALLING When...Let's take a look at the indices after the extended weekend!
We see a break of a bull flag within a trading range. Strange, but powerful setup. Technically, everything seems fine and dandy then. However, there's an increasing notion of something being just WRONG. The economy is in turmoil and the full effect of the pandemic consequences is yet to hit us. FED is doing unprecedented things to suppress those effects and make the markets look like nothing happened. But will it be enough?
Anyways, as technical traders we should only trade what we see, not what we THINK should happen. Therefore, overall market is bullish with various resistances above (duh), the closest being 3045.
Keep an eye on the volume as well for a peak, marking the next possible turn.
If you are dominantly a swing trader, consider tightening your stops!
Tom | FINEIGHT
How To Trade Extended Stocks? TJX & BJ 05/21 Case Study!Hi guys, today we'll touch once again on the topic of extended moves. Thursday gifted us with a picture-perfect comparison of 2 stocks gapping up. One worked flawlessly, second one didn't, however (guess in which I took my trade, d'uh...).
Takeaways from the video:
1) You can't tell successful follow-through from the daily graph itself. You have to watch how it behaves thorough the day. Volume and behavior on key levels are the most important factors here.
2) You may want to risk less initially, adding along the way as long as the stock fulfills your criteria.
Hope this helps you next time you see a nice gapper and possibly saves you some frustration!
Tom | FINEIGHT
Go below parity!Wave 3 of wave 3 has started in an extended third wave. So a big downside pressure will come after went below the previous iv wave and broke out of the channel.
Honestly, I am in short from 1.0950 and I will open again if there would be a clear rising correction from somewhere 1.08.
If I'm correct then the EURUSD must not move above 1.0993!
11K end of this ralley?Hey there,
If you look at my latest post on Tradingview you will see that scenario A played out nicely so far.
We broke the posibility for a rising wedge break down and managed to get above short term
downward resistance.
We are now looking for a touch of this ascending channel, coinciding with important horizontal resistance
and fibonacci significace. 10k has been broken and currently seems to hold.
Ethereum has some strong resistance and seems like it is not yet sure wether it wants to move up.
Other altcoins could lose some strength which could maybe strengthen bitcoin dominance.
Trading in this environment can be tricky. I am currently in a position and will exit on break even,
but I would even stay away from buying dips for now, since it looks like bulls are losing strength.
I will definetly buy the shit out of bitcoin on a heavy retracement down to the mid 9000s.
The ascending triangle is broken on the RSI which would indicate another ralley to 11k.
Of course Bitcoin can go further, but it will get extended.
Especially the TI Indicator currently has a countdown on a green 5 daily, so that would also
support the idea of a continuing uptrend and maybe ralley into 11k.
I will scale into positions on the pullback I am looking for.
Check me out on YouTube : Enlightened Trading
and subsribe so you don't miss out on any trading ideas!
Also follow me on instagram : enlightened_trading_
See you back next time.
Cheers,
Konrad
#Bitcoin - Hot Stuff, don´t get burned!We are with rather bigfoot steps approaching our leadline of bearish broadening wedge. Last nights close below monthly pivot, below the current daily trendline AND below the neckline of the w-top pattern is shipping us into deep waters. If this diagonal leadline get´s broken with volume we will go into further correcture. Overall first target 8,9k and 8k USD.
*Always set stops. Dyor. No financial advice.
If you are interested in using the NeruSuite v5 (final), please contact me in Telegram @NerubicaC or here in TradingView via DM .
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