GBPJPYGBPJPY gives breakout of LH indicate that bearish trend end (bullish trend start) also bullish divergence gives confluence that buyers are active.
We can attempt to buy at breakout of LH by placing buy stop .
SL , TP mention in chart.
M-oscillator
Apple Reports Soon. Can it Bounce?Apple has lagged for months, but some traders may expect a recovery.
The first pattern on today’s chart is the emerging double-bottom around $168.50. AAPL bounced at that level in early March and is trying to hold it again. The kind of price action may suggest the downtrend is slowing – at least for the time being.
Second, the tech giant is expected to report earnings in the next few weeks. Considering the nearby support, will sellers wait for the approaching catalyst to push the downside? That could give an edge to buyers in the near-term.
Third, MACD is starting to rise.
Next, consider the falling trendline along the recent highs. Closing above that line may also suggest the near-term direction is less bearish.
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Short opportunity on SPXSPX index showing bearish divergence on RSI. While price have been moving up steadily for the last two months. RSI doesn't seem to track price instead it has been falling. This bearish divergence indicates there could be possible correction in SPX. From past correction, I guess it could be around 10% where there is a good support. Also this correction can be welcomed so we don't see a bubble burst scenario.
Hope you like this analysis. If you like please boost the idea or leave a comment on your thought. Otherwise, happy trading :-)
AUDNZD 📉 Trading Idea ✔Hey everyone!!! 🙌🏽
This pair is now at the essential zone and we will take action after the confirmation.
I am mostly bearish about this pair for short period of time next 1 to 2 weeks.
Good Luck to All!!! ❤
Salesforce Could Be StallingSalesforce more than doubled between late 2022 and early 2024. But now some traders may think the provider of marketing software is stalling.
The first pattern on today’s chart is the November 2021 high of $311.75. CRM rallied above that level on March 1 but couldn’t stay there. Such a failed breakout is a potentially bearish reversal pattern.
Second is a trend line rising along the lows of January and February. CRM touched that support more frequently in March. That could suggest it’s at risk of breaking. (The 21-day exponential moving average may be providing a similar signal.)
Third, MACD has mostly fallen since mid-February. That may reflect weakening momentum.
Fourth, Bollinger Bandwidth has narrowed. Will that tightening price action give rise to increased volatility?
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Bitcoin Liquid Index Gann Square & EW CountHere I made an elliot wave count, this is a complete wave assuming the 5th wave is short like in 2013/2014.
I will look into making an alternate count that shows one more 5th wave to go before a major correction like 2014/2018... Or unlike we've seen in bitcoin history? 60k-1k???
Well no need to get too excited, time will tell which way we're going and it's too soon to say for sure.
Silver WeeklyShort Term Targets are ~23 usd
I expect price to hit within the next 5 weeks.
Also looking for a trip to 20-21 usd range to fill a monthly gap.
Overall I am bullish on silver.
Bitcoin Monthly Short Term target is 54k
Long Term target is 20k
Monthly is consolidating and will likely find it's way back below the 20 EMA near the bottom of the Keltner Channel.
Bitcoin WeeklyTarget is 54k
May reverse in the 54-64k zone to fill the gap left at 20k.
Bullish if we can break the double top formation,
Target is 80k-120k
Expected to hit 54k with in the next 6 weeks.
Amazon is overbought as price heads into overhead resistanceAmazon weekly chart analysis indicates an overbought condition at significant resistance.
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Past Performance is not an indicator of future results.
Algorithms open mean-reversion Short positions in Bitcoin.Trading algorithms have initiated mean-reversion positions in Bitcoin through Futures and other structured derivatives.
Despite the clear bullish sentiment in the mid-term and long-term trends, we are observing indications of traditional Elliott Wave patterns in conjunction with a Relative Strength Index (RSI) touching 50 on the Daily chart, signaling a potential deceleration of the current trend.
In response to these observations, several trading algorithms are adopting Short positions as a mean-reversion strategy ahead of anticipated mid-term uptrends.
This proactive approach aims to capitalize on potential short-term fluctuations in Bitcoin's price while maintaining a broader strategy aligned with long-term bullish trends.
We continue to monitor market dynamics closely to optimize trading strategies accordingly.
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Possible indication of another move downThis could be descending channel forming. BTC need higher high now to avoid bear div on 12hrs SRSI. If not, new lower low is in the cards. This is too many "if" but just keep in mind and be extra careful with long positions since most of alts follow BTC correction.
Good luck traders!
AUD/JPY Poised for Downtrend Amid Fibonacci and RSI Signals
The AUD/JPY pair is exhibiting a bearish demeanor in the upcoming market cycle. A close examination of the chart reveals that the previous bullish trend was notably robust, ascending sharply to the 100.62 level. However, the ensuing bearish trend has unfolded in a less direct manner, adopting a zigzag pattern that incrementally steps downward. This pattern increases the likelihood of retracements, which we have already observed.
The initial retracement occurred within the Fibonacci levels of 0.382 to 0.5, with price oscillations between 99.182 and 99.369 respectively. This price behavior provides a strong indication of a continuing bearish trend. Subsequently, the second retracement transpired within the range of 98.82 to 98.70.
Currently, the price is situated at the third Fibonacci retracement level between 98.65 and 98.56, and we anticipate a pullback from this zone. A further descent is expected, particularly if the price breaks through the 98.19 support level.
RSI Insight:
During the aforementioned retracement phases, the Relative Strength Index (RSI) also plays a pivotal role in determining the strength of the retracements. For the third retracement to be deemed significant, the RSI should cross above the 60 mark, reinforcing the validity of the pullback.
Stop Condition:
The outlined bearish perspective could be negated if the price breaks and sustains above the 98.92 level. Such an upward movement would call for a reassessment of the bearish outlook and potential revision of trading strategies.
Endnote:
The current technical setup of AUD/JPY suggests a bearish continuation is more likely, with Fibonacci retracement levels and RSI confluence supporting this view. Traders should monitor these levels closely, with a keen eye on the RSI for additional confirmation. As always, it's prudent to implement sound risk management practices to mitigate against unforeseen market movements.
$SPY April 2, 2024.AMEX:SPY April 2, 2024.
15 Minutes
Took support at 200 averages twice and bounced back.
In 60 minute time frame considering the rise from 508.6 to 524.61 we can see oscillator divergence in play.
We are also having AMEX:SPY around 9,21,50 averages in 60 minute time frame.
61.8% retracement is around 514 levels. So this level must hold for any uptrend to continue.
In 15 minute time frame considering the last rise from 521.06 to 522.79, AMEX:SPY must hold 521.5 levels.
If this level is broken I will try for a short for a target 518 initially being 38.2% retracement for the hourly rise.
At the moment long is only above 525.8 levels.
INJ from a lower boundary of a trading rangeEven thou BTC is in a correction, in this macro regime altcoins should outperform. Injective has been one of the outperforming alts all thru the previous market regime. The technicals now:
- Day MACD has reversed from the oversold zone and uptrending, histogram going upward
- on the 4H TF MACD has already reversed from the oversold zone and about to cross MACD downtrend.
- lower bound of the range is at 30.23, limit order at 30 even, with strong support at 29.311
NZDJPY - Falling Wedge Breakout - Bullish ReversalOANDA:NZDJPY has broken a falling wedge, which is a bullish reversal pattern. Bullish divergence can also be seen at the last 2 lower lows, indicating imminent bullish price action!
Swing Trading a Marijuana Penny Stock OGI LongOGI is a highly volatile penny stock in the marijuana subsector. It is too cheap to short It does
have options. ( The strike $2 for 3/15 contract on Friday went 67% from the LOD to the high of
day). On the 15-minute chart is shown my swing trading strategy for OGI. Each up arrow is one
lot of shares while the red arrow is to sell a lot. The lot size can be number for example
1,20,50, 100. consistency helps the strategy.
There are seven trades taken, three are completed while four are open. The three completed
trades average 2.5 to 4 % daily return and compounding when the cash returns from
settlement or new cash is deployed while awating settlment. There is no need for
margin. The options strategy yields more than 10% per day for capital deployed into
call contracts. The mass index indicator is used in lieu of a set of moving averages.
The dual time frame RSI looks for an early warning of a reversal with bearish divergence and
the faster RSI < slower RSI while the linear regression line in a reversal goes to a zero slope
before becoming downsloping.
This is an easy strategy with very little time and effort involved that can be scaled
once experience and results demand it.
This is an effective strategy to grow a small account in a short time. For those with significant
math skills or who know how to use a scientific calculator. Calculate the number of trading days needed to 10X initial money when the account balance is compounding each session and the compound rate is 2%. ( This strategy will compound an account 2% per trading day if 65%
of the account balance is in trade at any time with the remaining 35% settling or waiting
in cash for the next trade- I have done this several times with a few mentees.) ( Post your
result and I will private message you the calculation)
USDJPY Analysis: Shorting Opportunity Ahead- Timeframe: Weekly chart shows RSI Divergence
- Trade Bias: Shorting opportunities favored
Analysis:
- Weekly Chart: RSI Divergence signals potential reversal
- 4-Hourly Chart: Waiting for retest of previous resistance at 151.74 for short entry
- Combo Trade Strategy: Stretching targets for lower risk and higher returns
Combo Trade Strategy Explained:
- Definition: Trade management system to extend targets for enhanced risk-reward ratio
- Benefits: Lower risk exposure, higher potential returns
Trade Plan:
- Shorting opportunities identified on USDJPY
- Entry upon retest of 151.74 resistance level on 4-hourly chart
- Utilize combo trade strategy for optimized risk management and profitability
Additional Insights:
- Trading strategy not limited to shorting USDJPY; open to opportunities aligning with trading strategy
- Flexibility in trading approach across multiple currency pairs
Final Thoughts:
- Market dynamics are not constrained by directional movements of specific currency pairs
- Focus on trading opportunities presented by price action and technical indicators
- Adaptability and versatility are key to successful trading in dynamic market conditions
💡 Your Thoughts?
What are your views on the potential shorting opportunity on USDJPY? Share your insights and trading strategies in the comments below!
👍 Like if you appreciate this analysis! Remember, always conduct your own analysis and manage risk responsibly. Trading involves risks.
Enact losing volume, with price in overbought extreme levelWe can see that the volume is decreasing, while price is rising, suggesting a decrease in demand.
ACT chart also show us a negative divergence, when comparing price with ROC.
The ADX is also showing a new higher peak. And as we can see in later 2023 a higher peak was made and resulted in a decreasing price; March 2024, the ADX failed to reach a new higher, and now it finally got it.
Shitcoin season ETA is near.Weekly Chart:
Fusiongap (50/15) indicator histogram is in positive again, with the red oscillator about to cross the green oscillator.
Ichimoku cloud flipping green again.
Keep3rV1 KP3ROn the above 3-day chart price action has corrected 96% since the sell signal (not shown) @ $1500. Now is an excellent moment to be long. Why?
1) A strong buy signal prints (not shown).
2) The strong signal also prints on the BTC pair.
3) Regular bullish divergence . Lots of it. This divergence is measured over 40 days.
4) Price action and RSI resistance breakouts.
5) Nudge nudge wink wink.
Is it possible price action falls further? Sure.
Is it probable? No
Ww
Type: trade
Risk: <=6% of portfolio
Timeframe: Don’t know.
Return: Don’t know
Divergence in GoldAfter #ATH in NCDEX:GOLD , we see a weak divergence in the time of 15 minutes, which we can enter with the lowest risk in the opposite direction of the upward trend.
be careful!!!!
MARA flag breakout upward, testing 38,2 fiboAfter decreasing volume a flag was created, where price tend to stop in the EMA, and today we get a breakout with volume rising.
This candle is also breaking the resistance that was created before by the pattern, after being crossed.
After the flag breakout the RSI rise above 50.
We can see the Fibo, and the buyers are pushing the 38,2%, with a possible upward trend.
