TQQQ Technical Analysis - Breakout and Key LevelsTechnical Breakout:
On November 13, 2023, NASDAQ:TQQQ experienced a significant structural shift with the breach of the $40 resistance level. The subsequent bull run in the tech sector propelled NASDAQ:TQQQ to a peak of $61.22 on February 12, 2024.
Fibonacci Retracement:
After reaching the peak of $61.22 on February 12, 2024, NASDAQ:TQQQ made an attempt to pull back, targeting the 0.618 Fibonacci level at $53.18. However, the retracement was not sustained, and NASDAQ:TQQQ returned to the previous high of $61.22 on February 23rd.
Current Situation:
As we await the market open on Monday, NASDAQ:TQQQ stands at a crucial juncture following the recent retest of $61.22.
RSI Divergence:
Since January 24th, we've observed RSI divergence, indicating a discrepancy between the price action and the strength of the trend. This could be a crucial signal, suggesting a potential shift in momentum that traders should closely monitor.
Upcoming Events :
This week brings important economic indicators:
Monday: Japan Inflation Rate
Tuesday: GfK Consumer Confidence and USA Durable Goods Orders
Wednesday: USA GDP
Thursday: USA PCE and Personal Spending
Friday: ISM Manufacturing
Market Expectations:
Anticipations are focused on the USA GDP, expected to perform worse than forecasted . This could influence market sentiment and potentially impact NASDAQ:TQQQ 's performance.
Forecast:
Given the current technical setup, RSI divergence and the upcoming economic events, there is a likelihood that NASDAQ:TQQQ could move towards the 0.5 Fibonacci level of $50.69 by Friday, March 1st. Traders should closely monitor developments and be prepared for potential volatility.
Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. Traders should conduct their own research and consider risk factors before making any investment decisions.
US NAS 100
CAN US100 MAKE A NEW ALL TIME HIGH ?Hello traders .
i think for nasdaq the market is still bullish ,
if the price manages to give a bullish reaction on the area it is likely that it going to give a trend continuation
for bears out there if you wanna sell look for shorts on round numbers / Psycological levels but don't hold for long its agaisnt the trend i think its going to keep going and maybe start possibly reversing on 20.000.
just a personal prediction of mine . according to the relative strenght index the market is making higher high but they are getting weaker and weaker i am thinking at the price 20000 by then the buyers will be tired and we might see a possible correction.
NAS100USD Will Fall! Short!
Here is our detailed technical review for NAS100USD.
Time Frame: 8h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The price is testing a key resistance 17724.5.
Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 17470.1 level.
P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.
Like and subscribe and comment my ideas if you enjoy them!
Nasdaq 100 Head and ShoulderHaving studied Nas100 for sometime now, I've noticed that it has a bullish turning movement of a head and shoulder. Expecting the market to correct/pull back into 4H demand before continuing to break all time highs. Expecting move from now until early next week, latest Wednesday.
NAS100
simple trading - follow the trend
A very bullish market always needs a pullback. What a great Head and Shoulders pattern for a reversal to the downside. NAS100 has officially broken below all bullish trend lines on the Daily. NAS100 is looking to create more sell pressure. With NAS100 being at the top of its weekly trend, look for a correction. Massive sell if NAS100 cannot remain above the 4hr support zone.
BULLS :
Buy at 17588 4hr support,
If candles remain above this area and create bullish momentum, look for a target at 17661. A new higher lower should be a confirmation for continuation to the upside.
BEARS :
Wait for a retest to 17661 with bearish candles, Do NOT sell now but wait for a retest
*Previous sell opportunity:
17730
17665
This week's trading:
Look for NAS100 to consolidate and respect market support and resistance areas. Once the market has made a decision, then we trade!
NAS100USD Will Go Lower From Resistance! Sell!
Take a look at our analysis for NAS100USD.
Time Frame: 12h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a significant resistance area 17940.7.
Due to the fact that we see a positive bearish reaction from the underlined area, I strongly believe that sellers will manage to push the price all the way down to 17589.5 level.
P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.
Like and subscribe and comment my ideas if you enjoy them!
NAS100 Technical Analysis and Trade Idea - Full ExplanationMarket Observations: The #NAS100 has maintained a bullish trajectory. However, price action on the monthly timeframe suggest the #US100 is overextended. Additionally, the weekly chart reveals a double top pattern, hinting at a potential retracement down to the 50-61.8% Fibonacci levels. This area could provide the liquidity needed for major market players to fill long orders.
Trade Strategy: Consider an intraday/swing trade short entry following a potential stop run above the current range. Target an initial profit level around the previous lows near 17250, with a secondary target at 17000 (slightly above the 61.8% Fibonacci level on a 1W chart). Implement a well-placed stop-loss order to manage risk effectively.
Disclaimer: This analysis is based on my observations and does not constitute financial advice. Conduct your own independent research and carefully assess your risk tolerance before making investment decisions.
NAS100 Technical Analysis and Trade Idea
Market Observations: The #NAS100 has maintained a bullish trajectory. However, price action on the monthly timeframe suggest the #US100 is overextended. Additionally, the weekly chart reveals a double top pattern, hinting at a potential retracement down to the 50-61.8% Fibonacci levels. This area could provide the liquidity needed for major market players to fill long orders.
Trade Strategy: Consider an intraday/swing trade short entry following a potential stop run above the current range. Target an initial profit level around the previous lows near 17250, with a secondary target at 17000 (slightly above the 61.8% Fibonacci level on a 1W chart). Implement a well-placed stop-loss order to manage risk effectively.
Disclaimer: This analysis is based on my observations and does not constitute financial advice. Conduct your own independent research and carefully assess your risk tolerance before making investment decisions.
GVA STOCK PRICE GOT REJECTED AT SUPPORT LEVEL WILL PRICE SURGE?Granite Construction Inc. has its 5 week declining stock price rejected with bullish engulf candle at the support level (44). Will this rejection cause the price to begin another bullish run?
N.B!
- GVA price might not follow drawn lines . Actual price movement may likely differ from the forecast.
- Let emotions and sentiments work for you
- ALWAYS Use Proper Risk Management In Your Trades
#gva
#nyse
#s&p500
Nasdaq (us100)
Hello
Let's have a new update of Nasdaq
Well, we see that we are strongly bullish. Be careful, friends, do not enter into sales transactions
Only sell as a quick scalp
With this bullish intensity, targets of 19,000 and 20,000 will be available
Do not enter into any transaction without confirmation
Nasdaq Intraday Review - Thursday 8 Feb 2024I trade Nasdaq intraday exclusively
Trading in GMT time zone
Sharing my post day review and analysis in case it can help you!
Looking exclusively for buys - the trend is your friend! :)
Did my analysis at +- 5:20am
During analysis noted the following:
Bulls rallied over 2000 pips yesterday and overnight, had managed to keep price at this level.
Market has consolidated in a triangle / rising wedge pattern (I felt it was more a rising wedge pattern based on the bodies of the candles)
Rising wedge patterns tend to break down, but can break either way
Pivot point and fib levels are far down from where price currently is, +- 800 pips. So I need to be careful buying because if the market does retrace, it is a big draw down that I will have to handle.
Initial jobless claims will be released today - I feel that due to the sensitivity of the Fed / interest rate debate, this may cause volatility at time of release.
Pivot point zone looks of interest to me as a potential buy zone because it is close to the 1H 0.382 fib level, creating an area of confluence.
This fib drawn from swing low at A. to swing high at B.
To make matters a bit more exciting, I am not able to be at my trading screens today. This means I need to set my buy limits and hope for the best.
I set my buy limit for 50% of my usual position size at C. - Confirmations:
Fib - This represented the 0.382 fib level
S&R - pivot point
I set a second buy limit at D. for 50% of my usual position size - Confirmations:
Fib - This represented the 0.618 fib level
Trendline - blue uptrend line, intersecting this area
S&R - 4H 20 EMA was roughly at this level
Unfortunately, price never reached my buy zones.
When I returned to my screens and did my analysis, I noted that the entry for today would have been quite clear.
If I was trading properly today, I would have entered at E. because price made a nice double bottom just above my zone, by the 1H EMA.
I would have entered on the break of the neckline, which also meant that price had broken back above the 1H EMA
There was also a nice inverted hammer candle on the 1H TF, followed by a green momentum candle at E. further supporting the buy entry.
Market moved up from here +- 700 pips.
What could I have done differently?
Nothing, as I wasn’t able to be at my desk today! :(
Hope you had a good trading day!
TF = timeframe
TP = take profit
1H = 1 hour
4H = 4 hour
D = day
W = week
M = month
S&R = support & resistance
EMA = Exponential moving average
Nasdaq Intraday Review – Wednesday 7 Feb 2024I trade Nasdaq intraday exclusively
Trading in GMT time zone
Sharing my post day review and analysis in case it can help you!
Did my analysis at +- 5:20am
During analysis noted the following:
The 4H EMA has acted as a strong support for 2 x 4H candles (marked at A.)
The D neckline (you see it better on the line chart) that was previously broken down and re-tested by market, is resistance turned support & is acting as a strong support
Trend is clearly uptrend - nearly seen from D line chart
Looking exclusively for a buy - The trend is your friend
Entered a sell (even though I just said I was looking for buys ;) ) at B -
Confirmations:
- Market Patterns - Market had broken the 4H neckline marked in pink, travelled down the same distance as the height of the pattern i.e. reach profit target and was now returning to test the neckline. The early morning bulls had pushed past the neckline but met bear resistance at C. It looked as if bears had won the battle as price was pushed below 1H + 30min EMA + pivot point at E. So even though I was looking for a buy, I believed market would sell as neckline failed the bull re-test
- Candlesticks - Strong bear momentum candles between E. and B. on 15min through to 1 H TF
- Fib - Point C. was at the seller's 0.618 fib retracement level and market was moving aggressively down
- S&R - Pivot point had failed as support and 30min + 1H EMA was acting as resistance
- Trendline - This was against the trend but I looked to me like a trend change in progress
The 4H EMA + the red support line of the "D Neckline " was too strong for bears to break down and ultimately market moved up from here.
I closed at my mental stop, which was the thick pink line, taking a loss of 445 pips.
Usually I would have been discouraged that my first entry for the day did not work out. Usually, self-doubt creeps in and I become very insecure and hesitant.
Today, I was determined not to let that happen and keep my mental state as level as possible.
Watching price action carefully and needing to be convinced that market had indeed properly broken through the neckline, I entered a buy at D. -
Confirmations:
- Market Pattern - My initial reason for selling is not turned around so, price seemed to have convincingly broken through the neckline, meaning that the down trend was over and an uptrend would begin
- Fib - Point B. was at the buyers 0.50 fib level, representing a strong fib level
- Candlesticks - I opened a buy after a very long wick green hammer candle closed on the 15min TF. This represented market testing the pivot point one last time with a big rejection.
- S&R - The 30min + 1H EMAs + pivot had turned into support
- Trend - Trading with the overall trend which usually tends to be my most profitable trades. Also the orange temporary down trend had been broken
Usually when self-doubt creeps in, I tend to open very small positions in an attempt not to increase my losses for the day. But this time I opened at my full position size.
As market moved up, I closed partial profits to cover my losses for the day and still have a runner open which I will close as per what the candles are saying.
Market has moved 1886 pips from my position, I am trading risk free (stop loss at entry) with my losses covered for the day.
So I am a happy chappy!
Ultimately I closed my position at 17739, when a double top started forming on the 30 min.
What could I have done differently?
I had analysed in the morning that the 4H EMA and the red slanted support line were very strong, but I choose to ignore that when I entered my sell as price was right at this level.
I should have waited to see how price would react to these strong elements before jumping in.
Hope you caught this nice buy!
TF = timeframe
TP = take profit
1H = 1 hour
4H = 4 hour
D = day
W = week
M = month
S&R = support & resistance
EMA = Exponential moving average
NAS100 Technical AnalysisThe #NAS100 has been on an upward trend, but a potential triple top pattern is forming on the chart. If the #DXY retraces further and rebounds from support, the #US100 could spike above the current high, potentially taking out buy-side stop-loss orders before pulling back down to the 61.8% Fibonacci level. Remember, trading the #NASDAQ involves significant risk. This analysis is just my opinion and shouldn't be considered financial advice.
NAS100 - EMBARKING ON THE BIGGEST BULLRUN IN HISTORY? Hello Traders, what a week it has been! So I think it is justified to provide you with everything I know and show you how I see things. On the chart you’ll notice an image. The image shows theoretical price action with a parabolic curve step-like formation, representing an idealised pattern in price action trading. The formation begins with Base 1, where the stock starts to show an uptrend, followed by Base 2, indicating continued growth and increased investor interest. Base 3, marked by an "X", signals a critical entry point for traders, as it suggests potential for the stock to double in value rapidly. We are depicted to be at this third phase, which is considered the most opportune moment for entry before the final ascent. Base 4 represents the peak of the trend, culminating in a Sell Point where the stock reaches its maximum and sharply declines, thus completing the pattern.
However, as we gear up for the CPI data release on the 13th of February, be aware that it might steer us into a broad consolidation phase. The market's parabolic trend may not be sustainable given the upcoming figures. Prudence is key here—anticipate potential stabilisation or sideways price action as the market digests the CPI results.
Additionally, watch out for how price reacts to the BOS level. No structure is definite and it's important to adapt to what price is showing us and not to cling to an idea that no longer is valid.
NAS100 Weekly
NAS100 Daily
To add to this NAS100 analysis, I think it’s important to discuss its main components. The "Magnificent Seven" Big Tech stocks, including Nvidia, Apple, and Amazon, have seen varied performance since the pandemic, challenging the notion of them as a homogenous group. The dispersion in their returns and diverse business models highlight the differences within the sector. While Nvidia thrives as an AI specialist and Apple boasts defensive qualities, Amazon combines retail with cloud computing. The sector's valuation spectrum reflects a mix of growth prospects and market expectations, suggesting a nuanced investment landscape rather than a uniform "bubble." This diversity raises questions about the future performance of growth versus value stocks within these leading tech companies.
Apple's revenue grew during the holiday quarter, driven by iPhone sales and a record in services, despite a drop in China sales due to competition and geopolitical issues. The company faces regulatory scrutiny and a patent dispute, but remains optimistic about its product ecosystem and upcoming launches like the Vision Pro headset.
Amazon's stock surged 7.9% following a report of strong holiday sales, boosting its market value by approximately $135bn. CEO Andy Jassy highlighted the company's future focus on AI, projecting AI revenues to reach "tens of billions," further driving optimism for its growth potential.
Alphabet's shares dropped after advertising revenues missed expectations, despite integrating its Gemini AI into various services. The company plans significant investments in AI infrastructure, raising investor concerns about the balance between growth and expenditure in the generative AI race.
Meta's shares soared over 20% after announcing a first-ever dividend and a $50bn increase in share buybacks, signalling recovery from a recent advertising slump. The company plans more investment in AI and the metaverse, despite expecting short-term AI products not to significantly drive 2024 revenue. Full-year expenses are projected to rise notably.
Nvidia's dominance in the AI chip market, essential for technologies like OpenAi's ChatGPT, has driven its significant growth, with the stock more than doubling in value over the past year. This surge contrasts with the broader semiconductor industry's struggles with excess inventory and reduced demand in other sectors. Nvidia's success is partly due to partnerships with major tech firms like Microsoft and Meta, with the latter planning to acquire almost 600,000 high-end Nvidia GPUs for AI research. This focused investment in AI has positioned Nvidia at the forefront of the data centre market, overshadowing traditional leaders like Intel.
Microsoft's shares fluctuate after announcing strong cloud sales integrated with OpenAI's tech, but ended lower due to concerns over high investments in AI infrastructure. Despite a 20% increase in cloud revenues, investors remain cautious about the costs associated with expanding AI capabilities.
Tesla's shares dropped 12% amid warnings of lower sales growth due to reduced demand and increased competition. CEO Elon Musk announced a new lower-cost car for 2025, aiming to regain momentum. Tesla faces challenges from price cuts, higher costs, and a shift in the EV market, impacting its financial performance.
Here’s some economic theory for you, to add some more depth to the analysis. The Federal Reserve's monetary policy, particularly changes in the federal funds rate, has a significant impact on bond yields and, subsequently, stock prices. When the Fed raises interest rates to combat inflation or cool down an overheating economy, bond yields tend to rise as well. Higher bond yields make bonds more attractive relative to stocks, which can lead to a decline in stock prices as investors may shift away from equities. Conversely, when the Fed lowers interest rates to stimulate economic growth, bond yields often decrease, making stocks more appealing, which can boost stock prices. So, Fed rate decisions play a crucial role in influencing the relationship between bond yields and stock prices. In economic theory, bond yields and stock prices exhibit a negative correlation. This is why yield charts matter. Have a look:
The general outlook is that the US Federal Reserve is cautious about cutting rates despite inflation slowing, due to concerns about potential economic growth and inflation resurgence. Market expectations of rate cuts exceed the Fed's projections, but with inflation drivers easing, the case for reducing rates is growing stronger. However, the US job market added 353,000 jobs in January, surpassing the expected 180,000, leading to reduced expectations for a Federal Reserve interest rate cut in March. The strong job growth supports the Fed's cautious stance on rate cuts, despite political pressures. In my opinion, if the US economy continues to show such resilience and the next CPI release is lower than consensus, we might be witnessing the beginning of the largest bull run in history.
In summary, the NAS100's trajectory is at a crossroads with the upcoming CPI data potentially triggering market consolidation, despite the recent parabolic pattern. The diverse performance among Big Tech stocks underscores the need for nuanced analysis. While Federal Reserve policies continue to sway bond yields and stock prices, the strong job market suggests caution in anticipating rate cuts. Keep a close eye on how the NAS100 responds to the interplay of inflation data and tech sector dynamics. Overall, maintain a strategic approach and be ready to adjust to new information as we navigate these complex market conditions. Stay informed, stay agile.
As always, I hope you enjoyed this one and have a great weekend!! ;)
Next expected volatility period: around February 19thHello traders!
If you "Follow" us, you can always get new information quickly.
Please also click “Boost”.
Have a good day.
-------------------------------------
(NAS100USD 1M chart)
The NAS100USD chart is updating the new high (ATH).
Accordingly, it can be seen that we are in a position where there is no surprise if it falls at any time.
However, unless it falls below 16579.4, it is expected to touch the Fibonacci ratio range of 2.0 (left) - 1.0 (right).
The section that is likely to turn into a downward trend is 14880.8-15090.3.
Therefore, if it falls below 16579.4, I think an important key is whether it will be supported around 14880.8-15090.3.
(1D chart)
Unless there are major issues, the next period of volatility is expected to be around February 19th.
At this time, it is necessary to check whether it falls below the Fibonacci ratio range of 1.618 (left) - 0.618 (right), or rises above 0.707 (right).
Currently, it is expected that the reported price (ATH) will be updated.
Have a good time.
thank you
--------------------------------------------------
- The big picture
The full-fledged upward trend is expected to begin when the price rises above 29K.
This is the section expected to be touched in the next bull market, 81K-95K.
#BTCUSD 12M
1st: 44234.54
2nd: 61383.23
3rd: 89126.41
101875.70-106275.10 (when overshooting)
4th: 13401.28
151166.97-157451.83 (when overshooting)
5th: 178910.15
These are points that are likely to encounter resistance in the future.
We need to see if we can break through these points upward.
Since it is thought that a new trend can be created in the overshooting area, you should check the movement when this area is touched.
If the general upward trend continues until 2025, it is expected to rise to around 57014.33 and then create a pull back pattern.
1st: 43833.05
2nd: 32992.55
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** All explanations are for reference only and do not guarantee profit or loss in investment.
** Trading volume is displayed as a candle body based on 10EMA.
How to display (in order from darkest to darkest)
More than 3 times the trading volume of 10EMA > 2.5 times > 2.0 times > 1.25 times > Trading volume below 10EMA
** Even if you know other people’s know-how, it takes a considerable amount of time to make it your own.
** This chart was created using my know-how.
---------------------------------
NAS100USD Is Bullish! Buy!
Here is our detailed technical review for NAS100USD.
Time Frame: 6h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is approaching a key horizontal level 17234.0.
Considering the today's price action, probabilities will be high to see a movement to 17498.4.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
Like and subscribe and comment my ideas if you enjoy them!
NAS100 - MONDAY'S SMALL SHORT FOR BIG LONG! (TARGET 17265)As you might have noticed, the Nasdaq is on fire and I'm more of a reversal trader so times are harder. But, there is an old saying that states: "the trend is your ". I forgot the rest but I'll let you figure out the last word. So in homage of this old saying, we'll tighten our bullish running shoes and propose a setup that satisfies both camps. Here's what I see happening on Monday (29/01/2024):
What is on the chart? (follow the steps)
1) We have our liquidity target level which gave place to the continuation of the rally. So far so good for bulls, price is going up and their net worths too.
2) Our first reversal structure, with a low taken out and the high intact.
3) This is our retracement signal, confirming the market structure shift to the downside. This is paired with the fact that price broke the hourly Tenkan and Kijun + the Tenkan and the Kijun crossed over + breaking the Kumo + breaking the latest low. Additionally, the 4H Kijun and Tenkan reside within the 1H Kumo so those too were broken (not shown on the chart to promote clarity). These are reliable reversal signals. I am not trying to be a contrarian against the general trend but, this is how we spot general highs and lows. The daily is simply bullish so it's harder to spot a minor intraday opportunity such as this one.
4) This rejection confirms our reversal idea, and strengthens the probability of sellside liquidity getting taken out.
5) This is our final target, ideally the 1 Hour FVG. Again, on Monday anything can happen of course but this seems the most likely. I want these lows taken out before anything and, therefore we can short in anticipation of these lows getting taken out!
Most importantly, take some rest and have a great weekend! ;)