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USD/JPY may squeeze if Fed delivers dovish disappointmentUSD/JPY looms as a prime squeeze candidate should the Fed disappoint on extremely dovish market pricing, not only likely to benefit from the probable uplift in US bond yields but also recent shifts in market positioning. USD/JPY staged a decent reversal on Monday after slicing through the Dec 28 low of 140.273, printing a hammer candle on the daily. With RSI (14) nearing oversold territory and breaking the downtrend it’s been in since the start of September, directional risks may be shifting. I’m not rushing into a long trade just yet, but I am keen to see whether the price holds above 140.273 today. If it does, longs could be established with a stop around 139.60 for protection. Make sure you keep positioning front of mind given how volatile the pair has been recently. 143.63 looms as a suitable trade target with only minor resistance at 141.73 located in between. Good luck! DS
Long
by FOREXcom
11
Not chasing silver higher given Fed may disappoint Silver looks bullish, breaking through downtrend resistance last Friday with ease as traders ramped up Fed rate cuts bets. However, with over 120 basis points priced in 2024, that leaves silver vulnerable to a reversal should the Fed not deliver on those expectations. Therefore, rather than buy the break, I’d rather see what the Fed does before entering a trade. Should the price move back towards support between 30.157 and former downtrend, it will provide a decent level to build setups around. If the zone were to hold, you could buy with a stop below the downtrend targeting $31.754 or multi-year high of $32.50 set in May. Alternatively, if it were to reverse through the zone, you could sell with a stop above the downtrend for protection. Potential targets include the 50DMA or $27.71. Momentum remains higher with RSI (14) and MACD generating bullish signals. However, from a fundamental perspective, if US yields push higher before or after the Fed, it may lead to a stronger dollar and renewed headwinds for silver. Good luck! DS
FOREXCOM:XAGUSD01
by FOREXcom
SOL Analysis — Potential for Further Downside?Solana (SOL) is showing several signals of a further correction. After SOL bounced from its core support level at $125, the price was rejected at the EMA 200. Currently, SOL is trading below all significant exponential moving averages (EMA). Typically, this is an explicit confirmation of a downtrend. Even worse, the Stochastic RSI is in overbought territory. Plus, the K-line has crossed below the D-line—a typical signal for a potential downside move. The Facts Summarized: EMA 200 rejection: SOL attempted to break above the EMA 200 but was swiftly rejected. Overbought Stochastic RSI: The overbought conditions suggest the momentum might be cooling off. Downtrend: SOL continues to trade below its EMAs, confirming the bearish structure. However, even in case of a move to the downside, the 125-level should serve as an essential support. A Sign Of Hope — BTC! While the signals for SOL are mainly bearish, it’s essential to keep an eye on Bitcoin (unsurprisingly). If BTC continues its upward momentum early next week, this could invalidate the bearish setup for SOL and spark a new push upward. The next few days will be crucial to watch.
Short
by ben_walther
1
SMH now testing outer boundariesSMH experienced a significant rally and now showing signs of weakness and a potential reversal coming. experienced a short lived false breakout back in Aug 22 We are now back in breakout zone again this time with more candles indicating more bulls coming in than last breakout RSI is now trending flat as price continues to rise, signs of rsi divergence signaling reversal maybe coming Overall SMH looks to be showing weakness in the rally and most likely turning around to sell off soon.
NASDAQ:SMHShort
by ratchet-mint
SPELL Did 50X in 3 Month in 2021, Can It Repeat This Move?In 2021 the token started trading in the final phase of the bull cycle so it's unlikely to be that fast, but who knows? Anyway, it's a pretty good token to hold in the following months and the picture is very similar to my FIDA post. Price action holding support on an important level, stable weekly RSI moving sideways. SPELL/BTC ratio is in a falling wedge and looks ready for a reversal (breakout not confirmed yet): Max target: $0.029.
CRYPTO:SPELLUSDLong
by function_mechanic
1
$SPY 14, September 2024AMEX:SPY 14, September 2024 Weekend views. Uptrend confirmed. I will be worried only if 510 is broken as of now. On daily my target is 580 levels initially. This is derived from 1.5 times extension for the move 348 to 459 to 409 levels. On Monday if AMEX:SPY is able to cross 564-565 levels and hold for at least one hour we can see a big move towards 580 in few days. Now holding 555-557 is crucial for next uptrend. In 15 minutes for the last rise 556.53 to 563.03 it is important to hold 559-560 levels. If 559 is broken, then we will have another multiple tops around 563 and hence can expect some sideways between 554 to 560 to converge the moving averages. Not the time to short in any time frame. As of now.
AMEX:SPYLong
by RiderTrader
6
Solana Name Service (FIDA) — a 45x opportunityNote that the project was previously known as Bonfida but renamed to Solana Name Service. Price action has been building some structure on an important support level since July. Weekly RSI has stabilized at 40 and is moving sideways. Falling wedge breakout against Bitcoin: Max target is at $10 which gives up to 4500% potential. Also, since it's a Solana ecosystem project, it gives indirect exposure to Solana which is a great thing considering all the hype around it. Like the idea? Boost it! Have an opinion? Leave a comment!
CRYPTO:FIDAUSDLong
by function_mechanic
3
AUD/USD set to make assault on downtrend resistance AUD/USD looks set to make an assault on downtrend resistance dating back to August 29, building momentum after Wednesday’s bullish engulfing candle sent the pair careening above the important 50-day moving average. However, while RSI (14) has broken its downtrend the bullish signal has yet to be confirmed by MACD, suggesting now is decent time to let the price action tell you what to do. The bias is higher but the risk-reward is not compelling on the daily timeframe. If the price manages to break and close above the downtrend, it will allow traders to establish longs with a stop below the level for protection. The price has done a lot of work either side of .6750 recently, making that an important level to overcome to open the door for a push towards the recent highs at .6825. Alternatively, if the price is rejected at the downtrend, you could sell with a stop above for protection. Possible targets include .66857, the 50DMA and Wednesday’s low (and the 200DMA) around .6620. Good luck! DS
by FOREXcom
1
How I Use Multi Timeframe Analysis to Capture LARGE Price SwingsDISCLAIMER: This is not trade advice. Trading involves real risk. Do your own due diligence. TUTORIAL: Today, I demonstrate the thought process and mechanical steps I take when trading my Multi-Timeframe strategy. We take a look at US Treasuries, which have offers a classic lesson in how to apply this approach. As you will see, throughout the year, this approach took some losses prior to getting involved in the "real" move which we anticipated. No strategy is perfect, and I do not purport this to be perfect. It is a rules based and effective way to read price. This strategy is great for people who don't have a lot of time to spend at the charts. I would classify this more as an "investing" strategy when utilizing the 12M-2W-12H timeframe. If you have questions about anything in this video, feel free to shoot me a message. I hope you have all had a great week so far. Good Luck & Good Trading.
CBOT:ZF1!Education
by Tradius_Trades
3
Semiconductors and the Long-Term TrendChip stocks have been climbing since early last year. Now, after a healthy pullback, some traders may look for the longer-term uptrend to continue. The first pattern on today’s chart of the Philadelphia Semiconductor Index is the rising 200-day simple moving average (SMA). SOX bounced at this SMA in late 2023 and again last month. The most recent price action suggests it may remain support. Second, August’s low occurred near April’s trough. The level was above any level seen in any previous year, which may suggest new support has been established in new record territory. Third, stochastics are rebounding from an oversold condition. Other similar moments, followed upside in price, are marked on the lower study. Next, some individual members of the space have potential patterns, aside from leader Nvidia NASDAQ:NVDA . Micron Technology NASDAQ:MU could be forming a potential double bottom around $85. Applied Materials NASDAQ:AMAT has a similar formation around $175. Interestingly, both levels are slightly above their respective prices at the end of last year. Do these signal bullish reversals? TradeStation has, for decades, advanced the trading industry, providing access to stocks, options and futures. See our Overview for more. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options or futures); therefore, you should not invest or risk money that you cannot afford to lose. Online trading is not suitable for all investors. View the document titled Characteristics and Risks of Standardized Options at www.TradeStation.com . Before trading any asset class, customers must read the relevant risk disclosure statements on www.TradeStation.com . System access and trade placement and execution may be delayed or fail due to market volatility and volume, quote delays, system and software errors, Internet traffic, outages and other factors. Securities and futures trading is offered to self-directed customers by TradeStation Securities, Inc., a broker-dealer registered with the Securities and Exchange Commission and a futures commission merchant licensed with the Commodity Futures Trading Commission). TradeStation Securities is a member of the Financial Industry Regulatory Authority, the National Futures Association, and a number of exchanges. TradeStation Securities, Inc. and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., both operating, and providing products and services, under the TradeStation brand and trademark. When applying for, or purchasing, accounts, subscriptions, products and services, it is important that you know which company you will be dealing with. Visit www.TradeStation.com for further important information explaining what this means.
NASDAQ:SOX
by TradeStation
XRP - High Timeframe Analysis - SHORT TRADE SETUPDISCLAIMER: This is not trade advice, this is for educational and entertainment purposes only. Trading involves real risk. Do your own due diligence. Utilizing my 12 Month - 2 Week - 12 Hour Mult-Timeframe approach, I have identified XRP as a market that I would consider shorting IF price action satisfies my rules for entry. The 2023 candle traded up into the 2022 high and failed to close beyond it. For this reason, I have a bearish bias down to the 2023 lows. XRP intermediate timeframe (2 week) is currently delivering price bearishly, and is currently in a intermediate timeframe bearish orderblock, which is a point of interest for me to look for entries. For this reason, I am satisfied taking an entry on the 12 hour timeframe if we get one of the following entries: Bearish change-in-state-of-delivery (CISD), 18 Period MA Entry, 10h8c MAC w/ Acc/Dis confirmation. I note that if price trades up into some of the intermediate term swing highs that I would consider shorting there as well, in the event that price trades through the intermediate timeframe bearish orderblock. Let me know if you have any questions about this multi-timeframe approach. I hope you are all having a great week. Good Luck & Good Trading.
Short
by Tradius_Trades
Gold coiling up ahead of another bullish breakout?Gold has been coiling under the record highs for a while now, constantly testing and bouncing from uptrend support over the past two weeks. While momentum indicators have yet to turn bullish, the upward bias in the price suggests we should be on alert for a bullish breakout. Traders keen to take on the long trade have two potential options. The first is to buy here with a stop below the uptrend, possibly just under $2500. To make the trade work from a risk-reward perspective, you’d need to target a move beyond the record high of $2531.81. The second option is to wait for the potential breakout above the record high. If it occurs, you could buy with a stop below the level for protection. As we’re talking uncharted territory, round numbers may provide potential targets; think $2550 and $2600. It’s only a line running from two former highs, but keep an eye out for possible resistance around $2567. Good luck! DS
FOREXCOM:XAUUSDLong
by FOREXcom
$SPY September 12, 2024AMEX:SPY September 12, 2024 15 Minutes. AMEX:SPY managed to hold recent low of 539.44 by making a low 539.95 and reversing. So again it touched top of channel as seen and bounced back. Even the close of 539.95 bar was good being at top of bar, we have oscillator making LL for the two lows 543.4 and 539.95. Hence i expect a retracement first. Considering the rise 539.95 to 553.36 if AMEX:SPY holds 548+ levels uptrend continues. So as long as 545 is not broken we can expect one more move towards 560-563. I will not short as ass values above moving averages. Yesterday covered short at 540.5. My stochastic indicator has turned from red to green bar as seen. Hence any retracement is a buy for me until any change.
AMEX:SPYLong
by RiderTrader