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$SPY August 19, 2024AMEX:SPY August 19, 2024 15 Minutes. Friday AMEX:SPY was struggling around 55 levels as expected. All moving averages are little far off for 15 minutes chart. Hence, I expect sideways until this is sorted out. Considering 2 rises From 531.76 to 555.01 From 548.88 to 555.01 AMEX:SPY in uptrend for the day holding 551 levels. And if breaks 551 levels i have 548-549 as target being 100 averages approximately. 540 is the important levels now to hold to continue this current uptrend as of now. We have clearly oscillator divergence and hence i expect a pull back.
AMEX:SPYShort
by RiderTrader
Second Chance Shorting Opportunity on EURUSDIf you’re looking for a second chance to short EURUSD, there’s a promising setup involving a Type 2 Bearish Shark Pattern with RSI Divergence. Let’s break it down. Current Overview: - Type 2 Bearish Shark Pattern: - What It Means: The first target has already been achieved. This provides clarity on the first target but might reduce participation since the initial group of traders who profited may not re-engage. - RSI Divergence: - Signal: This divergence adds another layer of confirmation, especially for traders who rely on resistance and RSI divergence as their entry signals. Strategy: - Second Chance Entry: This setup offers a second opportunity to short EURUSD, with the RSI divergence potentially attracting a new wave of traders. - Profit Factor: The strong profit factor in this trade is what drew me in, despite the potential for reduced participation from the initial group of sellers. Final Thoughts: While there might be fewer sellers this time around, the RSI divergence could bring in new participants, making this a solid second chance trade. Always keep an eye on your signals and manage your risk effectively. What’s your take on this setup? Are you planning to jump in, or do you see other opportunities? Share your thoughts and strategies below! Happy trading, everyone! 🚀
Short
by RaynLim
AUDCAD - Retracement for Bullish ContinuationFX:AUDCAD is moving upwards, creating higher highs and higher lows after breaking above the descending trend line supported by a previous resistance-turned-support level suggesting that the sellers may be losing control and buyers are gaining momentum! Current price action poses a potential buying opportunity after a pullback into the “Buy Zone". The strategy is to enter a long position within this zone, with a stop loss placed below the defined support, aiming for a continuation of the newly established uptrend.
Long
by Tempo_Trades
BTC Ramped Move to $96KWith wars raging in the middle and eastern Europe, Governments are constantly devaluing their civilians' purchasing power. The King of Crypto, with gold, seems to be a place of refuge from the increasing inflation. We have seen a sideways acclamation over the past 144 days, with a stop run below 52,500 handle to shake out the weak hands. Price rejected these prices and moved strongly back into the range. I believe this to be a wave 4 move, with wave about the develop. The RSI holding above 40 which is the bottom of a bullish trend. 144 days is significant timing for those Gann traders. My target is 96K calculated using fib extension and confirmed by Gann square of nine. The CBIdx indicator is holding above 40 with a small bullish divergence appearing. We Should see ramped movement to the upside in the coming week.
CRYPTO:BTCUSDLong
by TRADER-RI
Rakon NZ long term buying level approachingRakon Monthly chart I'm currently looking at long term investments to hold for years, and noticed this one Current price is $0.80, but I think it could easily fall to $0.41c Downside $0.42c Dividend ~ ~5% at that price level Potential capital gain, 300% gain is pretty easy to get to $1.20, the all time high was $5.80 Could easily hold for a couple of years sell half and make 100%+ on your original money and still own some shares The upside with volatile stocks like this is that there are very few real support or resistance levels on the chart i.e. big bars... these can easily get blown through both ways as there are no major order pools there that take time to fill See what happens but its on my watchlist with price alerts set
NZX:RAKLong
by dionvuletich
Important close for USD/JPY as bullish signals emerge Friday’s close looms as particularly important for USD/JPY with a break back above the Jan 2023 uptrend setting the platform for potential further upside next week. As things stand, another leg higher will fulfill the criteria to meet a morning star pattern on the weekly timeframe, adding to the case for setting longs with bearish momentum also starting to ebb. A close around these levels would create a decent bullish setup, allowing for traders to buy the break with a stop below the former trendline for protection. As for topside targets, 150.90 and 151.95 loom as viable options. From a fundamental perspective, USD/JPY has a rolling daily correlation with US two-year bond yields of 0.97 over the past month, implying the two variables are basically moving in lockstep. With little US data on the calendar next week to shift sentiment on the economy, that provides room for recent moves to extend further in the days ahead. The biggest risk to the setup would be a major escalation in tensions in the Middle East or unlikely extreme dovish shift from Fed policymakers at the Jackson Hole economic symposium next week. DS
Long
by FOREXcom
1
SMH rallies to new highs with room to goSMH rallied to new highs today and into higher trading area which originally appeared to be very overbought 1 hour interval shows both 10 and 20 RSI levels in overbought territory 2 hour interval shows 20 RSI having more room to grow. initially exited riskiest positions figuring on this new high being way outside the bounds of normal This is now looking to have some more room left in it. expect a small pullback or pullback in time over the next day or two.
NASDAQ:SMHLong
by ratchet-mint
US small cap bounce unconvincing despite risk revival The recovery in US small caps has been unconvincing over the past fortnight, struggling for upside unlike mega-cap rivals. Russell 2000 futures have been capped below the 50-day moving average for much of this period, running into sellers constantly above this level. Wednesday’s rejection above 2132.6 warns of building reversal risk, putting a potential break of uptrend support on the cards should US slowdown fears return. If the price were to break the uptrend, traders could enter shorts with a tight stop either above the level or the 50-day moving average for protection, depending on your target. On that subject, the 200-day moving average or 1920 are levels to consider. If the price were to hold the uptrend, a close above the 50-day moving average would negate the bearish setup. MACD and RSI continue to generate bearish signals on momentum, making selling rallies the preferred strategy near-term. Good luck! DS
CME_MINI:RTY1!Short
by FOREXcom
NZD/USD looking bullish before RBNZ rate decisionNZD/USD has reversed the downside break sparked by US recession fears, smashing through the downtrend it had been trading in since early June on Tuesday. With RSI and MACD providing bullish signals on momentum, risks are skewing towards further gains ahead of today’s RBNZ interest rate decision. While economists are evenly split on whether the bank will cut rates by 25 basis point, I’m with market pricing that marginally favours a reduction in the cash rate to 5.25%. If that eventuates, we could see the Kiwi pull back initially. However, it will be the rate track path from the RBNZ that will likely drive direction beyond the actual decision, providing clues as to how fast and much the RBNZ expects it will have to cut rates this cycle. Whatever that indicates, NZD/USD finds itself back at the 50-day moving average, a level it has often respected over the course of this year. That creates a great setup opportunity depending on how the Kiwi performs post RBNZ. Buy a break above the level with a stop below for protection, targeting a push towards .6150. Alternatively, if the price can’t break or hold above the 50DMA, sell below the level with a stop above for protection. .6050 would be one target with .5985 after that. Good luck! DS
by FOREXcom