USDJPY BREAKING KEY LEVELS TOMORROWUSD/JPY is exhibiting bearish momentum after a rejection at a key resistance level, with multiple upper wicks indicating strong selling pressure. Earlier in the session, a liquidity grab above a prior high triggered buy stops, but the sharp reversal suggests sellers used this opportunity to enter short positions. The pair has broken below an intraday trendline, confirming it as new resistance upon retest, while bearish divergences on the RSI and MACD signal weakening bullish momentum. Additionally, the price is trading below both the 50- and 200-period moving averages, with a death cross reinforcing the bearish trend. Increasing volume on downward moves compared to lighter retracements further supports the likelihood of continued downside pressure.
+ if not today, Monday is the day the lower KL breaks
Nasdaq
GBPUSD GOING TO THE SKYGBP/USD is showing bullish momentum, supported by a decisive breakout above a key resistance level, accompanied by strong bullish candles and increased volume, signaling robust buying interest. Earlier in the session, a liquidity sweep below a major support level likely triggered sell stops, followed by a sharp reversal, indicating accumulation by smart money. The pair has also respected a rising intraday trendline, bouncing off it and reinforcing the upward trajectory. Technical indicators, such as bullish divergences on the RSI and MACD, further confirm weakening bearish momentum and potential for continuation higher. Additionally, the 50- and 200-period moving averages on lower timeframes are sloping upward, with a golden cross reinforcing the bullish outlook. This setup, combined with low-volume pullbacks, suggests a strong environment for further intraday gains.
+ was going down in response to the previous liquidity levels, is now answering this by reaching the higher K levels
EURUSD GOING DOWNEUR/USD appears poised for a bearish move, supported by key technical indicators and chart structures. Price action has rejected a significant liquidity zone, suggesting strong selling pressure and the inability of buyers to hold higher levels. A confluence of resistance from a descending trendline and the 50-day EMA strengthens the bearish outlook.
On higher timeframes, a recent liquidity sweep at a key high has been followed by a sharp rejection, indicating trapped buyers and the potential for further downside. A break below the recent market structure low could trigger stop orders, accelerating the move toward the next major liquidity cluster. Watch for increasing momentum and volume as confirmation of this potential bearish shift.
+ responding to the liquidity rectangle, pushing down
AUDJPY BULLISHAUD/JPY appears poised for a bullish breakout, supported by key technical indicators and chart structures. Price action has reclaimed a significant liquidity zone, indicating strong buyer interest and the absorption of supply. A confluence of dynamic support from an ascending trendline and the 50-day EMA further reinforces the bullish setup.
On higher timeframes, a recent liquidity sweep at a key low has been followed by a strong rebound, signaling that sellers may be trapped and the market could pivot higher. A break above the recent market structure high could trigger stop orders, driving momentum toward the next major liquidity cluster. Increasing volume and momentum will be key to confirming this potential upward move.
+ testing inferior KL, aiming for higher ones
GOLD BULLISHGold appears poised for a bullish breakout, supported by key technical indicators and chart structures. Price action has reclaimed a significant liquidity zone, suggesting strong buyer interest and absorption of supply. A confluence of dynamic support from an ascending trendline and the 50-day EMA further strengthens the bullish case.
On higher timeframes, a recent liquidity sweep at a key low has been followed by a strong rebound, indicating that sellers may be trapped and the market could pivot higher. A break above the recent market structure high could trigger stop orders, fueling momentum toward the next major liquidity cluster. Watch for increasing volume and momentum as confirmation of this potential upward move.
+ precisely the contrary of NASDAQ with a little more zigzag liquidity
NASDAQ BEARISHThe Nasdaq may face a correction in the coming hours, based on technical signals from the charts. The index is approaching a key resistance zone, coupled with an overbought RSI (Relative Strength Index), indicating potential short-term reversal. Additionally, a bearish divergence between price action and the MACD (Moving Average Convergence Divergence) suggests weakening bullish momentum. Declining volumes on recent highs further point to reduced buying pressure. A test of the immediate support could accelerate the downside if this level is breached.
+ big liquidity level broken yesterday, looking for a correction
US30 - Once A Castle, Always A Castle!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
📈US30 has been bullish , trading within the rising channel in blue.
After rejecting the $45,000, has been in a correction phase and approaching the lower bound of the channel.
Moreover, the zone marked in green is a strong structure.
🏹 Thus, the highlighted blue circle is a strong area to look for buy setups as it is the intersection of the structure and lower trendline acting as non-horizontal support.
📚 As per my trading style:
As #US30 approaches the blue circle, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
FORECAST UPDATES: Post CPI Results. Did We Get The Bias Right?Wednesday Dec. 11, 2024.
This is the Mid-Week Progress Report. Checking the accuracy of the Weekly Forecast and the Updates video posted yesterday.
Enjoy!
May profits be upon you.
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Is LCID Ready to Defy Gravity?!Here I have NASDAQ:LCID on the Daily Chart.
Price has been wrestling with the ( $2.55 - $2.30 ) area all 2024, but with the new Gravity SUV finally in production:
www.tradingview.com
along with tension easing from speculation on what the Trump Administration plans to do with the EV Sector:
www.tradingview.com
We could see Price on NASDAQ:LCID take off!
Since the August High's @ ( $4.43 - $4.25 ), Price has been following a Falling Resistance but we see on Dec. 6th, Price not only became extremely Bullish testing the Falling Resistance from underneath but also:
-Built Massive Bullish Volume
-RSI Pushed Above 50
-Followed by a Bullish Candle Close outside of the Falling Resistance to start the week on Dec. 9th.
*Suggesting Market Sentiment is changing and Bulls could be getting ready to take over!
Today on the 11th we see Price has made a Pullback to the Falling Resistance to Retest the Break @ $2.28 and is currently trading up to $2.35 showing a good Bullish reaction to the Lower Prices now!
We must continue to see RSI stay Above 50 and Bullish Volume remain dominant upon Prices rise along with good output from the new product line and the company continuing to gain investing support!
XAU/USD : Gold will pump to $2700 ? (READ THE CAPTION)Analyzing the #Gold chart in the 4-hour timeframe, we observe that the price opened with a positive gap today, showing a rise from $2633 to $2676. Notably, gold finally made its next move upon reaching this level, and we have seen a correction from $2676 to $2666 so far. The key question now is where the price will close in the next 6 hours.
We might see an initial rejection, but due to recent developments in the Middle East and increased risk, further growth in gold prices is anticipated. Keep a close watch on gold's reaction to the levels of $2689 to $2695. This analysis will be updated moment by moment as the price moves!
Please support me with your likes and comments to motivate me to share more analysis with you and share your opinion about the possible trend of this chart with me !
Best Regards , Arman Shaban
NASDAQ Technical Analysis: CPI Impact on Bearish MomentumTechnical Analysis
The price will trade under bearish momentum and high volatility due to the CPI data we have Today, as expectation the indices should trade at the bearish area, on the other hand technically side, as long as Nasdaq trades below 21535 and 21410 will be bearish toward 21220 especially if the result published more than expected which is 2.7%.
Otherwise, CPI Less than 2.7% will support bullish to get a new ATH especially if close 4h candle above 21535.
Key Levels:
Pivot Point: 21480
Resistance Levels: 21570, 21670, 21870
Support Levels: 21320, 21220, 21150
Trend Outlook: Bearish Momentum with some correction
2024-12-10 - priceactiontds - daily update - nasdaqGood Evening and I hope you are well.
nasdaq e-mini futures
comment: Beautiful bear channel and you should trade it until it’s clearly broken. We are going down but it’s weak selling. Bears barely get lower prices, even on increased volume. Means that there is also much scaling into longs for probably another big leg up.
current market cycle: Bull trend - very late and we are in the very last stage of it
key levels : 21000 - 21700
bull case: Bulls are keeping the market two sided, since the channel is shallow. Market closed only 80 points lower than yesterday. As long as bulls have strong pull backs in between, they are fine and they can scale into longs and make money. Bears have to take profits at new lows in fear of another big pull back higher. That is why we are mostly moving sideways, despite making lower lows and highs.
Invalidation is a daily close below 21000.
bear case: Bears are trying on increased volume but they are not doing enough damage to the bulls, to make more cover or prevent them from buying new lows. Bears can’t sell 21400 because we can easily test back up to the top of the channel. If bears are strong, they will keep it below 20500 tomorrow but I highly doubt that. I do think the high 21606 will hold. Trade the channel.
Invalidation is above 22000.
short term: Bullish for 21500ish. Maybe 21530. I favor one or two more legs down before Friday’s close. As of now with the structure we have, I can only imagine that we will see another full melt up from next week into year end. Maybe 22000. If this closes 2024 below 21000, consider me surprised big time.
medium-long term: Will update this over the weekend. 22000 is a possibility but a bit far for now. Daily close above 20500 would bring it in play. First target for Q1 2025 is 19000.
current swing trade: Nope
trade of the day: Selling near 21600 was perfect. Bears showed strength in that area and once we broke below 21540, market never looked back.
Nasdaq Intraday Review - Tuesday 10 Dec 2024I trade Nasdaq exclusively
Trading in GMT time zone
Sharing my post day review and analysis in case it can help you!
Did my analysis at +- 5:30 am GMT (00:30 am EST)
Economic news - None, but tomorrow is CPI
News - None
Directional bias - BUY. The M TF is very bullish and until there is a reversal pattern eg. DT on a high TF (like the D TF at least), I continue to hold my buy bias.
Morning analysis:
M TF - very bullish
D TF - Price is right at the neckline area (marked in green) at time of writing this morning. If candles start closing below neckline towards the mushroom, Nas will turn bearish, because then a day DT has formed with the neckline broken down (change the D TF chart to a line chart and it will be easily visible). D fib retracement levels were broken down yesterday, in other words bulls were not able to overcome the bears at these levels and bears push down past these levels. Now only W retracement levels remaining. W 0.382 fib level is 2800 pips down (at time of writing in the morning). Bulls last defense against the bears is the D neckline (marked in green) and a strong D support level, exactly at the D neckline. So this is the level were bulls will have to step in if they do today.
4H TF - Shrinking red candles at C. indicate a loss of bearish momentum. Hoping that bulls will push up from the green support / neckline. Drawn in the SELL fib levels because these will be key take profit levels. Sell fib drawn from swing high at B. to swing low at A.
As the day progressed:
As the morning progressed a falling wedge pattern formed on the 1H TF, as marked by the thick pink lines.
Entered a buy at the hand icon, when price broke upwards on the 15min TF - Confirmations:
1. Market pattern - Falling wedge pattern formed on 1H TF, right above key support. Pattern broken upwards, indicating that price is ready to move upwards
2. S&R - Green line represents D Neckline and key D support area. On the 1H TF, price is reacting to the 100 EMA, indicating that the torquiose EMA line is acting as dynamic support.
3. Trend - Buy is in the overall bullish trend of Nasdaq. Also the temporary downtrend line (the top pink line of the market pattern) is broken, indicating that price is ready to move upwards
4. Fib - None
5. Candlesticks - Shrinking candles on the 4H, indicating loss of bearish momentum
Mental SL placed at the thick pink line. I was willing to risk more today because it might have come down one last time to test the green line, this was purely based on my feeling, which luckily turned out not be true.
Luckily I had zero draw down and price shot up.
I took partial profits at the top hand icon (because that was TP2 on the buy fib (as drawn) and then closed almost all the rest of my position at the blue arrow (when a strong DT started forming on the 15min TF).
I left a runner open, just in case I could possibly benefit from a push up at CPI tomorrow, but this was taken out at entry ultimately.
Majority of my profits was about 1000 pips.
Stats:
The total bullish move for the day was +- 1575 pips:
I captured 63% of the total move (I'm happy with that).
Amazing to see how price reacted to the sell fibs today. Fib levels are real baby!
P.S. A note from yesterday's trading....I took a loss of 800 pips yesterday (I tried twice and hit SL twice). I was pretty bummed about it and didn't post :(
Won't be trading CPI tomorrow, because I feel I cant stack the probabilities in my favour! See ya Monday!
Abbreviations:
TF = timeframe
TP = take profit
1H = 1 hour
4H = 4 hour
D = day
W = week
M = month
S&R = support & resistance
H&S = head & shoulders
EMA = exponential moving average
SL = stop loss
NASDAQ: Buy near the 4H MA50.Nasdaq is bullish on its 1D technical outlook (RSI = 62.360, MACD = 259.490, ADX = 43.763) as it remains within the medium term Channel Up. The recent bearish wave is correcting the uptrend towards the 4H MA50, which if technically holds, should give way to the new bullish wave. The 4H RSI is headed towards its S1 Zone, which is the buying level so you can time the entries acccordingly. Our target is the 2.0 Fibonacci extension (TP = 22,000).
See how our prior idea has worked out:
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NASDAQ Approaches Key Support: Bullish Momentum Likely to PersisThe NASDAQ is approaching its ascending trendline support, which could serve as a potential bounce point to sustain the bullish momentum and drive new highs. There are no significant bearish signals, suggesting that buying on dips remains a viable strategy for targeting further upside.
US100 - 1H - Short Setup to $21,000 (Technical Analysis)The CAPITALCOM:US100 bounced from the upper side of it's wedge where it marked it's new ATH. On the way up we opened two gaps (red in the chart) which are still left to get closed. We also see a RSI divergence which implies we've seen the top for now and are heading lower (at least for the time being).
Current targets would be the support at $21,184, then the trendline of the current wedge at around $21,000 and a bit lower the bigger support zone at around $20,600. If we break above $21,600 this short setup is denied.
Target Zones
$21,184 (Gap Close)
$21,000 (Trendline)
$20,600 (Bigger Support Zone)