Potential Downtrend in BorgWarner BorgWarner has tumbled since the summer, and some traders may see risk of further downside.
The first pattern on today’s chart is the price zone around $32.75. The auto-parts company made lows there in December and January. It peaked at the same area this month. Has old support become new resistance?
Second, BWA is stalling at its falling 50-day simple moving average. That may suggest its intermediate-term trend is bearish.
Third is the trio of bearish gaps triggered by weak guidance after the last three quarterly reports. Those may reflect weakening fundamentals.
Finally, stochastics are dipping from an overbought condition.
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M-oscillator
The one and only buy signal you should never ignoreWeekly RSI is approaching 30 again. Historically, this has signaled the cycle bottom . Whether you consider this a 4-year-cycle bottom, or a local bottom within a mega cycle , it doesn't really matter. All that matters is that a bullish reversal is just around the corner, and we likely won't see another buying opportunity like this for a few years.
Could price dip again to $25k or $20k? Sure, and I'll buy there too. Either way, we're a hell of a lot closer to the bottom than the top, and that's what this game is all about.
I'm stacking all my alt positions and reducing my BTC allocation in favor of alts.
Ampleforth Governance Token (FORTH)On the above 4-day chart price action has corrected over 90%. Today is great long opportunity. Why?
1) RSI and price action resistance breakouts.
2) Multiple oscillators print bullish divergence with price action.
3) Price action prints support on past resistance since breakout. Look left.
Is it possible price action falls further? Sure.
Is it probable? No.
Ww
Type: trade
Risk: <=6% of portfolio
Timeframe: Now, don’t sit on your hands.
Return: no idea
BITCOIN is still BULLISH. Because we are Embedded. I see people trying to short this market!
WRONG, WRONG, WRONG.
You should be
LONG, LONG, LONG.
Whilst the slow stochastic's are embedded - which they have been for 10 days now.
How do Slow Stokes embed? 3 continuous days with readings above 80 on the K&D line.
You now have a indicator that has flipped from overbought to a LOCKED 🔒 in trend.
(This also works in Bear moves with reading under 20)
We could see 55K easily by Friday a return. move to the upper Bollinger Band.
If at any point the stochastic's close under 80... they can regain their embedded status, the very next day ONLY.
Also losing the stochastic's doesn't mean to short, but simply take some chips off the table.
$IBT March 15, 2024LSE:IBT March 15, 2024.
15 Minutes.
NASDAQ:IBIT retraced back to 200 averages in 15 minutes time frame.
For the rise from 34.03 to 41.99 NASDAQ:IBIT has retraced to 38.2 levels.
And for the rise from 37.77 to 41.99 it had retraced more than 61.8%.
So holding 39 resistance can be expected around 41-42 levels.
On the downtrend i expect 37 as a target initially which is 61.8% retracement for the larger rise and 100 average in the 60-minute time frame too. Bias is towards 37 levels initially.
XJO Short - Head and Shoulders, MACD Bearish DivergenceXJO has recently broken out of a rising wedge on a daily. MACD has now also crossed, showing bearish divergence on a daily.
Finally, as at today's close, XJO has completed a head and shoulders pattern on an hourly.
The measured move is 150 points to 7,550 although 7,565 looks a little more realistic.
Stops just above the right shoulder at 7,750.
BBOZ time!
PEPE will push another leg up?PEPE broke above the short-term resistance trendline, watch for a retest entry. Entry on a breakout above newly formed resistance would also be fine.
Traders that used retest entry from my last idea are in the nice profit already...
BTW I would like to see RSI go above 60 for this to be a nice move up.
Details on the chart.
Good luck traders
SEI - Potential Elliot Wave 5 Completion in progressSEI - CRYPTOCAP:SEI
There is a potential set up in SEI with a decent risk:reward ratio of 9.5
❌We want high volume but we do not have it yet
✅OBV is breaking out (might be an early sign of volume to come)
✅ We are above the 21 day moving average and above the diagonal support line
The 21 day MA and diagonal support line could offer a buying opportunity for any new participants, I have a tight stop placed at $0.74c. You will also see a 5 wave Elliot wave structure with the final 5th wave looking to reach the golden fib ext of 1.618 @ $1.57c.
We have a structure here to work with, a good RR and tight stop levels to protect us.
Sei is the first sector-specific Layer 1 blockchain, specialized for trading to give exchanges an unfair advantage.
Lets see how it plays out
PUKA
S&P500 3 Months Trading Channel Hey guys, didn't post new set-ups because the market is quite boring right now.
But explored some ETF and found an idea for stable trades. As we know, ETF's and some pairs are like to move in long channels, which is pretty easy to trade.
Here at the S&P500 we can see the raising channel from 5th January and I mark the zones, where you can open long positions, as the channel is raising I will recommend to trade only long positions.
What we're looking for before open the position:
1) The price have to cross the support level of the channel
2) As a help you can use Awesome Oscillator (if the oscillator is changing color and starting to raise up) you can use this as confirmation to open the position.
IMPORTANT! Don't forget to follow RM strategy. Use SL orders a bit lower from price crossing the support line!
Trade stocks and ETF at BingX with no special requests, only using crypto by my link: bingx.com
Bad News for USD Longs?According to the US Dollar Index, dollar longs are under pressure. Despite still technically exhibiting an uptrend, there are signs of technical weakness emerging. Since topping at 104.97 in mid-February (just shy of resistance at 105.04), price action has tunnelled through support at 104.15 (now marked resistance) in addition to channel support, extended from the low of 100.62.
As you can see from the chart, buyers and sellers are now squaring off at the 200-day simple moving average (SMA) around 103.72 and fast approaching neighbouring support at 103.62. Adding to the bearish vibe, we can see that the Relative Strength Index (RSI) crossed under trendline support, taken from the low of 29.59, and also pushed through the 50.00 centreline, a move emphasising negative momentum.
Should sellers change gears here, therefore, and overthrow current supports, further underperformance could be on the table for the USD, targeting the 50-day SMA at 103.09 and support coming in at 102.92.
Kadena (KDA)On the above 5-day chart price action has corrected 96% since the sell signal (not shown). Now is a good opportunity to go long. Why?
1) A strong buy signal prints. (not shown).
2) Price action resistance breakout (USD and BTC pairs).
3) Strong positive divergence between price action and multiple oscillators. This divergence occurs over an 80 day period.
4) Price action finds multiple weeks of support on the Fibonacci 0.236, since the start of the year.
Is it possible price action could fall further? Sure.
Is it probable? No.
Ww
Type: trade
Risk: <= 6%
Timeframe: Don’t know.
Return: 60x
JD Wetherspoon PlcOn the above 2-week chart price action has corrected 75% since the sell signal (not shown) in October 2019 @ 1600. Now is an excellent moment for a long trade position. Why?
1) A strong buy prints (not shown).
2) Strong bullish divergence. Blue circles. Look left.
3) Falling wedge is yet to breakout however with points 1 and 2 we can be confident in the direction.
4) The UK economy is circling the drain hole, it makes sense alcohol consumption will be on the up!
Is it possible for price action to fall further? For sure.
Is it probable? No.
Ww
Type: trade. Yes trade, not investment.
Risk: <=6% of portfolio
Timeframe: Don’t know.
Return: Don’t know
Stop loss: <=$380
Bitcoin Inflow Volumes Poised for Surge? RSI Hints at Upswing## Bitcoin Poised for Surge? RSI Hints at Upswing
Technical indicators on TradingView suggest Bitcoin may be primed for a rise in price. The Relative Strength Index (RSI) on the 2-hour timeframe, which measures price momentum based on 14-minute intervals and volume, currently sits at 48. This value indicates that Bitcoin is neither overbought nor oversold, potentially signaling a healthy position for further upward movement.
While a reading of 48 on the RSI is positive, it's important to consider this data point alongside other technical indicators and market conditions. Combining RSI analysis with other factors can provide a more comprehensive picture of Bitcoin's potential price trajectory.
Analysts are cautiously optimistic about Bitcoin's future, with some predicting a surge towards $88,000. However, the cryptocurrency market remains volatile, and unforeseen events can significantly impact prices. It's crucial to conduct thorough research and implement sound risk management strategies before making any investment decisions.
Bitcoin Inflow Volumes Poised for Surge? RSI Hints at Upswing ## Bitcoin Poised for Surge? RSI Hints at Upswing
Technical indicators on TradingView suggest Bitcoin may be primed for a rise in price. The Relative Strength Index (RSI) on the 2-hour timeframe, which measures price momentum based on 14-minute intervals and volume, currently sits at 48. This value indicates that Bitcoin is neither overbought nor oversold, potentially signaling a healthy position for further upward movement.
While a reading of 48 on the RSI is positive, it's important to consider this data point alongside other technical indicators and market conditions. Combining RSI analysis with other factors can provide a more comprehensive picture of Bitcoin's potential price trajectory.
Analysts are cautiously optimistic about Bitcoin's future, with some predicting a surge towards $88,000. However, the cryptocurrency market remains volatile, and unforeseen events can significantly impact prices. It's crucial to conduct thorough research and implement sound risk management strategies before making any investment decisions.
#btclong
$IBIT March 13, 2024NASDAQ:IBIT March 13, 2024
15 Minutes
The gap was filled yesterday.
If we consider the rise from 37.77 to 41.8 then NASDAQ:IBIT retraced 61.8% of the move.
And for the fall 41.8 to 39.21, it has again retraced 61.8 of the fall.
For the day considering the last rise from 39.21 to 40.94 NASDAQ:IBIT has to hold 39.9 levels for 40-41 as a target.
More uptrend only above 41.8 levels.
I am long yesterday from 39.5 levels SL below 200 average around 38.6 levels.
It is a contra trade as per my setup as my buys are not supported by the Elliott oscillator or black bar on stochastics being on top or CCI green.
$SPY March 13, 2024AMEX:SPY March 13, 2024
15 Minutes
AMEX:SPY managed to hold 510 levels and the expected 514 levels and above were done for the day.
For the day of the last rise, 513.55 t 517.38 is to be considered.
Holding 515 levels we can expect 518 levels.
The buy-in day will trigger only above 518.22 levels.
AMEX:SPY above all moving averages.
The Elliott oscillator is showing slight divergence hence a pullback to 515 levels and then an uptrend will give a better entry point.
We also have a black bar on stochatis on top and CCI green.
I have a target for 519-520 levels holding 515 levels for the day.