Clover Finance (CLV) - Bullish divergenceOn the above 4-day chart price action has corrected 97% since 2021. A number of reasons now exist to be long, including:
1) You know why.
2) Price action resistance breakout.
3) Multiple oscillators print positive divergence with price action over a period of 120 days, very bullish.
4) The above divergence has also printed on the BTC pair of this token.
Is it possible price action falls further? Sure.
Is it probable? No.
Ww
Type: trade
Risk: <= 6%
Return: 8 to 15x
Timeframe: between now and Middle of the month. Don’t message me asking if price action will correct again to fill you missed long order! (You’d be surprised how often this very message is received)
M-oscillator
JPYUSD possibility to break out of trendlineJPYUSD is likely to break out of the yellow descending trendline.
2013-2023 cycle is similar to the 1989-1998 cycle.
In monthly timeframe JPYUSD broke down 6~7 years of upward rsi trendline, and in 2W timeframe it formed downward rsi trendline.
In previous cycle, JPYUSD rose for over a year after the breakout.
Is PYPL ready for recovery?n the daily chart PYPL is at its six-month lows sitting on the support /demand zone after recent
earnings which were helpful in showing earnings and revenues holding up. Upside to resistance
is about 25%. The volume profile shows heavy volumes at both the current price and at $75
Any upward price action would likely experience volatility at $7 5 as that is where a large
a number of institutional traders are situated. This is also approximately where the mean long
term anchored VWAP is extending. The MACD indicator's lines have crossed under the histogram
which is now green and positive. They are approaching the horizontal zero line. Trading volumes
have increased since the last earnings and so shares are being accumulated which usually
results in prices rising gradually over time.
I see this as an excellent long trade setup targeting first $ 75 and then $87 just under the
resistance zone with a stop loss in or under the support.
Bitcoin does a drop then pop LONGBTCUSD three days ago did a drop to take out stop losses and get shorts to take profit. Since
then it reversed climbing over a price of 45.4 K. The MACD lines are under the histogram which
just flipped negative to positive indicating the beginning or recycling of bullish momentum.
The RSI indicators are not at all in overbought territory no matter then run up over the
following three days. Relative Volumes are about 3X the running average. CLSK Clearspark
reported today and surged. Anyone who played my options idea for it, saw a 300% return
overnight. HUT likewise. Although I did not post an idea, BTBT got even more altitude and
got over its past year high while still only 20% of its all-time high, Is this with the crypto
resurgence at its onset predicted by both pundits and fortunetellers? Maybe or maybe not.
But what it might be is an opening to get into your favorite crypto play while the momentum
continues. I would seem that the most aggressive is near-term options on equities approaching
earnings. MSTR is a megacap slow moving and it got 25% in the past five days on the share price.
The small caps are moving much more than that. If you have cash in reverse this might be a
to deploy it judiciously here in some of the crypto action, in my opinion.
Bitcoin consolidating and waiting for possible reversal SHORTI see Bitcoin as ready to fall as its next move. Short sellers are positioning. Volumes are falling
in a signal of capitulation. Relative strength is showing bearish divergence while price is in
consolidation. The boxes are checked and it is the weekend when the price volume trend is
typically sideways. This is demonstrated by the flatline PVT. I will short Bitcoin when I see
a bit of a volume push. I will reassess by crypto-related stock and options positions in due
diligence to protect risk.
BTCUSD in reversal SHORTBTCUSD on a 60-minute chart had been ascending in a channel but now has broken down and
has dropped below the channel support trendline. As to whether it will retest that trendline
which is now resistance remains to be seen. However, the MACD lines are under the zero level
and RSI lines under 50, lends support to a reversal at this time. Volatility is contracting and
price compressing in a symmetrical triangle with the bias bearish at this time.
SILVERThe Slow Trend and Fast Trend oscillators appear to be in alignment, both entering the overbought zone. At this juncture, two possibilities emerge. Firstly, there could be an immediate reversal. Alternatively, there might be an extended period where both, particularly the Slow Trend oscillator, linger in the overbought region before eventually reversing. Examining the lower time frames, the latter scenario seems more likely. However, given the early stage of either the trend's end or the formation of a new trend, it's crucial to remain alert for any indications until one of these two possibilities is confirmed.
SOFI flat to slightly negative YTD LONGSOFIR showed here on the 30 -minue chart has had great volatility in going no where since
the start of the year. Volatility can be harnessed for profit. This is the essence of swing
trading. With an intermediate term anchored VWAP band and line setup, it can be readily
seen that price first was resisted by the second lower band line in purple then broke out
through the band lines to meet resistance at the second upper band line ( again in purple)
and broke down through the band lines to get support at the first lower band and then
reversed and returned to the second upper band where it was rejected and fell into the
support of the second lower band from which it is now bouncing. This is a VWAP band
oscillation pattern which can be traded. I will take a long trade of SOFI here, first
targeting the mean VWAP at 8.05 and then 8.6 below the first band and finally 9.05
below the second upper band. Partial closures at 25%, 50% and 25% respectively.
I see this as a way to exploit SOFI volatity in swing trade profits which can also setup as
short trades.
MINA Analysis: Potential Correction, SELL or BUY Setup?!🍣📈Weekly Channel Breakout and Retest:
MINA previously broke out of its weekly channel and reached its target successfully.
The recent breakdown below the channel indicates a loss of bullish momentum and potential for a retracement.
🔍📉Corrective Phase and Resistance Levels:
If MINA undergoes a correction, it is likely to retrace upwards until reaching its weekly resistance level.
A rejection at this resistance level, coinciding with the RSI reaching the daily blue resistance line, could present a selling opportunity.
🚫Early Sell Setup and Risk Management:
A sell position could be initiated early at the current price level (below the lower channel line) using the red trigger line as confirmation.
Trailing the stop-loss to the lower support zone can help mitigate risk and maximize profit potential.
✅Important Considerations✅
The overall market trend should be taken into account before executing any trades.
Confirming the reversal with additional technical indicators and market sentiment analysis is essential.
🚫This analysis is for educational purposes only and should not be construed as financial advice. Always conduct your own research and employ sound risk management practices before trading.
🚫
Dollar Index: Further Selling if 102.92 Holds as Resistance?According to the US Dollar Index, the US dollar (USD) had a rather disappointing week, falling -1.1% against a basket of six major currencies. On the month, the buck is also -1.4% lower and, assuming a continued negative trajectory this month, is on track to snap a two-month bullish phase.
The FP Markets Research Team noted in numerous posts that the longer-term picture for the USD is tilted to the upside, trending northbound since 2008 (see monthly chart), which continues to remain the case. Additional technical observations, however, show buyers and sellers have essentially been rudderless since early 2023, squaring off just north of monthly support, coming in at 99.67.
Daily Chart Favours Bears
While the monthly timeframe continues to exhibit a bullish trend (unlikely to change until monthly support from 99.67 is consumed), price action on the daily timeframe concluded last week confirming the beginning of a downtrend (lower high at the 104.29 1 March top followed by a subsequent lower low on Friday at 102.36). Recent price movement guided the Index through the 200-day and 50-day simple moving averages (SMA) at 103.72 and 103.46, respectively, and engulfed bids at support from 103.62 and 102.92 (now marked resistance).
Even though the Relative Strength Index (RSI) is seen rebounding from the 50.00 centreline on the monthly scale and nearing the oversold region on the daily chart, price action on the daily exhibits scope to explore deeper water this week until reaching support between 101.44 and 101.77 after breaching daily support at 102.92.
102.92 to Be Retested as Resistance?
Given the lack of nearby support on the monthly and daily timeframes this week, price action retesting the underside of 102.92 to form daily resistance could be on the table. Assuming the unit holds south of this level, traders, irrespective of the technique used to enter the market, may take aim at the daily support area highlighted above at 101.44-101.77.
EPIX - Biotech Pre-earnings Run LONGEPIX on the 15-minute chart shows a solid trend up with a set of moving averages as the
guardrails now in a bit of a pullback. The after-hours price action will not appear on the chart
but price jumped 5%. Earnings are anticipated for 2/8 or 2/9 as best as I can tell. Internet
search information is not consistent. So, if tomorrow this is still pre-earnings but price popped
5% overnight, I will take a small long position. If the price is still pulled back to the slowest
moving average, I will take a larger position. No matter I will assess it on a 3-5 minute time
frame and recheck internet information regarding an earnings report. One news catalyst is that
Secretary of Defense has been in and out of the hospital ( DC VAMC) with prostate cancer
and maybe currently getting treatment in a clinical trial of an EPIX drug per the NIH
in Bethesda. Biotech is forecasted to be one of the hottest sectors for 2024. EPIX has
a trend up that impresses me. I will go long on this when I find a best entry and possibly in the
next trading session. The options chain is minimal volume as so represents a liquidity trap.
I will not go there.
DMAIL: A Revolutionary Decentralized Communication ProtocolIn the ever rapidly evolving world of cryptocurrencies, a new entrant often brings with it a wave of excitement and speculation. DMAIL , a recent addition to the digital currency arena, has sparked interest due to its unique proposition and the subsequent market reactions it has elicited. In this review, we will delve into the technical analysis of DMAIL, highlighting its market debut, trading dynamics, and the advanced indicators that shape its current trajectory.
DMAIL: Bridging Communication Gaps with Blockchain
At its core, DMAIL's is more than just a cryptocurrency; it's an innovative solution designed to redefine email communication through blockchain technology. It's utility extends beyond mere financial transactions, it is designed as an AI-powered decentralized communication infrastructure that offers encrypted emails, unified notifications, and targeted marketing across multiple chains and dApps. This broad utility spectrum suggests that DMAIL is not just another digital currency; it's a comprehensive platform aiming to enhance communication security and efficiency in the blockchain space
The tokenomics of DMAIL indicates a current circulating supply of 10 million DMAIL tokens out of a total and maximum supply of 200 million. This data indicates a carefully designed token supply structure aimed at fostering both scarcity and liquidity within the DMAIL ecosystem
Unpacking the Trading Dynamics
DMAIL's trading journey commenced on January 30, 2024, with an opening price of $0.85 on the OKX exchange. The initial trading period was marked by significant volatility, with DMAIL's price witnessing a sharp decline of over 50% from its opening value. This dramatic movement set the stage for establishing multiple areas of interest (AOIs), crucial for future trading strategies.
Noteworthy is the event on February 7, where a sudden drop was met with robust buying activity, creating a minor AOI at $0.3950. This level proved pivotal as DMAIL's price surged by 42% in the ensuing 18 hours. However, resistance at previous AOIs, such as $0.5250, underscored the challenges ahead.
Highlighted by the grey circle
Technical Indicators and Market Sentiment
A critical moment in DMAIL's trading narrative was the identification of a hidden bullish divergence between February 11 and 18, signalling potential market strength despite prevailing downtrends. This divergence, indicating a possible reversal when the price forms higher lows while the oscillator forms lower lows, played a key role in DMAIL's subsequent rally.
Highlighted by the grey circle
Further, the introduction of ERAI, an AI-powered signal generator, brings a new dimension to technical analysis. With machine learning at its core, ERAI's signals become increasingly refined, providing traders with sophisticated insights. On March 6, ERAI issued a buy signal, contributing to an 8.5% gain, showcasing the potential of AI in enhancing trading strategies.
Moreover, the AI social intelligence score offers a novel perspective on market sentiment, analysing the frequency and spread of discussions surrounding a token. For DMAIL, the current bullish sentiment is underscored by a strong presence in social discussions and updates, reflected in high green scores on the AI social intelligence metric.
ERAI's Signals on chart
Current signal status
Looking Ahead
As we observe DMAIL's performance, key levels such as the major support at $0.5850 become focal points for maintaining bullish momentum. The ability of DMAIL's price to stay above this threshold, along with revisiting minor levels like $0.7325 and $0.66, will be instrumental in determining its future trajectory.
However, traders must tread cautiously, as potential headwinds such as the formation of a double top pattern could pose challenges to DMAIL's bullish narrative. The importance of risk management cannot be overstated, especially in a market known for its volatility.
In conclusion, DMAIL's journey in the cryptocurrency market is a testament to the dynamic interplay between innovative utility, market forces, and advanced technical analysis tools. As the crypto landscape continues to evolve, DMAIL's progress will be closely watched by traders and technology enthusiasts alike, offering valuable insights into the future of blockchain-based communication and digital asset trading.
$SPY March 8, 2024.AMEX:SPY March 8, 2024.
15 Minutes.
AMEX:SPY opened with a gap. I closed around 514.2 levels.
AMEX:SPY ended the day with support multiple times on the top rectangle box drawn around 514 levels.
Considering the rise of 508.52 to 515.89 holding 512 levels uptrend continues.
Also due to the gap and holding 514 levels the oscillator also made a high along with the price.
I went long around 515 levels for a target 519-520 SL 512.
We are supported by indicators Elliott oscillator green, CCI green, and black bar on stochastic is on top.
Verizon May Be Losing its MojoVerizon Communications has rallied since late October, and some traders may think its uptrend is fading.
The first pattern on today's chart is the pair of bullish gaps on October 24 and January 23 after strong quarterly reports. Notice how prices continued higher after the initial surge, but faded after the second move. That may suggest improved fundamentals are now priced in.
Second is the narrowing range over the last two weeks. Is that potential triangle breaking to the downside?
Third, VZ has dipped under its 50-day simple moving average (SMA). That may reflect weakness over the intermediate term.
Finally, you have some potentially bearish signals over the shorter term: MACD is falling and the 8-day exponential moving average (EMA) has crossed below the 21-day EMA.
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Short term play idea: FNGD on the 4H ChartI'm entering a long position in FNGD today at market open using 60% of my equity.
Why:
RSI momentum positive.
RSI about to cross 55. I consider he path between 55 and 70 an ideal long.
FNGD is sitting on 8,13 and 21 period EMAs providing possible support.
Stop Loss:
4%
Will move up manually is it goes in my favor.
Risks:
There's a FVG area aroun $3.78
Price might pullback down there putting me in drawdown.
I've decided not to wait for this pullback as I beleive there is enough momentum in the open.
Additional thoughts:
NQ Futures seem overbought on short timeframes suggesting a swing to the downside in the morning.
Lets see how it goes!
Crude Oil Movement In Bearish Flag. Short long set up Hey guys!
Quick long idea for oil chart, we're moving right now in the raising flag which is bearish, but we can to trade the long till red resistance line.
Reasons to open positions:
1) The Awesome Oscillator is close to change the direction to upside, and we can see the similar movement before
2) By moving into the flag we cross the support lines, and we didn't go lower, so also seems like we're repeating the scenario
Take profit, better to put on the resistance line. Stop loss by lowest candle.
IMPORTANT! Always follow RM! We don't trade more than 2-3% of the deposit!
Oil and stocks you can trade on this crypto exchange: bingx.com
$IBIT March 7, 2024NASDAQ:IBIT March 7, 2024
15 Minutes.
Yesterday we had sideways after a gap up open.
For the rise from 34.03 to 38.59, holding 36.5 levels uptrend continues.
I expect a correction as oscillator divergence is seen.
For the larger move from 29 to 39 we need to hold 35 levels being the 61.8 reteracement for the shorter rise 34.03 to 38.59, which is also 200 average sloping upwards.
Any upward movement for today I expect to be resisted around 40 levels allowing moving averages to catch up.