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DXY D1 - Bullish BounceDXY D1 - Relief Rally The dollar index has undergone a significant retreat, showcasing a robust decline from the recent swing low to the swing high. It elegantly touched the 618 region, displaying a compelling wick, and gracefully closed just above our crucial 103.000 support level. Anticipating a potential rebound from this fortifying support zone, we may witness a temporary respite before a possible breach of the 103.000 support on the imminent second attempt. Meanwhile, the US30, US100, and XAUUSD are scaling impressive heights, mirroring the upward momentum seen in GBPUSD and EURUSD. Stay tuned for a detailed analysis unfolding shortly.
TVC:DXYLong
by Trade_Simple_FX
Tips on Adjusting the RSI (Part 2) Although the standard setting for the RSI is 70 (overbought) and 30 (oversold), I prefer to adjust the levels to 80 and 20. The purpose of this is to identify the extremely overbought/oversold regions. In addition to adjusting the levels, I would pay attention to the chart when the RSI enters in the overbought/oversold region (but would hold back on entering a trade) I would only enter a trade when the RSI turns down/up from the overbought/oversold region. This would signal that the price is likely to fall/rise as the RSI reverses from the extremes and back within range.
Education
by JinDao_Tai
Learning to use the RSI (Part 1)The Relative Strength Index (RSI) is a popular momentum oscillator used in technical analysis to identify overbought or oversold conditions in the market. The RSI is measured on a scale from 0 to 100, RSI values above 70 are often considered overbought, suggesting that the price may be due for a reversal or pullback. RSI values below 30 are often considered oversold, indicating that the price may be due for a bounce or recovery. A common mistake most traders will make is to assume that once RSI signals an overbought/oversold condition, the price should drop/rise, hence leading to a sell/buy decision. In the 2 examples highlighted (solid blue lines), you will notice that although RSI signaled an overbought/oversold condition, the price continued to climb/drop despite being overbought/oversold. Remember: Prices can be overbought/oversold for an extended period of time When using any indicator, always remind yourself of what it is measuring and remember that it is just math (not magic). The indicator is supposed to help quantify and help you see things clearer on the chart (rather than numbers). Check out Part 2 for Tips on Adjusting the RSI
Education
by JinDao_Tai
Altcoin Market Cap: Destined to reach 6 TrillionAlt coin market cap reaching 6T is no longer a dream, its just a matter of time. In the previous run altcoin marketcap increased from 40B to 1.8T, which is a very significant increase of 45x. If we see similar run this time, then 45x of 430B will be 19T, even if it reached half of this (9T) then its gonna be a huge win for altcoins. we can expect some coins to hit 100x or even 1000x. If we look at the MACD, in the last cycle (2020) after the MACD cross market cap increase exponentially, and we are currently seeing MACD getting ready to cross and market is getting ready for bitcoin halving with positive sentiment. Overall we are very confident on MACD cross and altcoin reaching the market cap of 6-9T easily. Let's wait and watch, give a boost and share your thoughts in the comments. Cheers GreenCrypto
CRYPTOCAP:TOTAL2Long
by GreenCryptoTrades
MEME Coin - Potential Price targets Memecoin (MEME) is the native ecosystem token of Memeland. Memeland is the web3 venture studio by 9GAG, the globally popular meme platform. This is not financial advice, but it looks as if the common money is starting to return and they inherently love meme coins. Here are some theoretical targets if we do see AMEX:MEME start to moon. Support: $.02459 Target 1 $.02595 (+5.35%) Target 2: $.02896 (+17.50%) Target 3: $.0341 (+38.71%)
Long
by Helios_Capital_Investment
US500 - Break or Make ❗️Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. DAILY: Left Chart 📊 From a long-term perspective, US500 has been trading bearishly within the confines of a descending broadening wedge marked in red. Currently , it is approaching the upper boundary, which acts as a non-horizontal resistance. 📈 For the bulls to maintain control and assume dominance from a macro perspective, a breakthrough above 4420.0 is essential. Meanwhile , there's still potential for the bears to exert influence and drive the price lower. H1: Right Chart From a short-term viewpoint, US500 remains bullish; however, the momentum appears to be weakening as the recent price action has been relatively flat, occurring within the boundaries of the orange channel. 📉 For the bears to seize control and trigger a bearish scenario, a drop below the last low in the orange channel, around 4360.0, is necessary. Meanwhile , the bulls will retain control unless this key level is breached. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
CAPITALCOM:US500
by TheSignalyst
4
S&P500: This is the strongest rally of the year!S&P500 hit our TP = 4,315 (see chart at the bottom) even earlier than we expected and finally turned bullish on its 1D technical outlook (RSI = 56.977, MACD = -34.150, ADX = 40.157). In the process, it broke above the 1D MA50 for the first time since September 15th. The wider pattern is a Channel Down now. If the price gets rejected inside the pattern. e.g the R1 level (4,400), we will buy on the pullback to the 1D MA200 and the 0.5 Fibonacci level at 4,270. If it crosses over the top of the Channel Down, we will buy on the next 1D MA50 pullback. In both events, the target is the R3 level (TP = 4,600). See how well our prior idea has worked: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
CAPITALCOM:US500
by InvestingScope
DAX: Approaching the 1D MA50. Buy the pullback.Target achieved on DAX (chart at the end) as the price made a straight rebound at the bottom of the Channel Down. The 1D technical outlook is neutral (RSi = 52.756, MACD = -158.600, ADX = 30.783) and being that close to the 1D MA50 without being bullish already, makes a short term pullback possible. On the long term, we expect a bullish breakout over the Channel Down as the current rally originated after an (almost) one month long 1D RSI Bullish Divergence. So as long as the price gets rejected under the 1D MA50, we will wait for a 4H MA50 pullback to open the new long and target the R1 level (TP = 15,575), a candidate to make contact with the 1D MA200 as well. See how well our prior idea has worked: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
CAPITALCOM:DE40
by InvestingScope