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Optimism

An "optimistic" approachUpon the announcement of Project Optimism, the 2 layer scaling solution to Ethereum, it's time to start picking up ether (if you havent already started). This is a great time to trade against crypto pairs, as the projected benefits from the L2 solution will greatly increase ETH's valuation relatively against crypto pairs. On a slightly related note, I will be lightly reducing my bnbeth position to allow for some fall back in the event that other smart contract pairs do not follow the same move HOWEVER given BNB's fantastic stability at it's currently levels, I am fairly confident .13 is the floor for that pair. Initial targets: 0.036 (current month candle close if bullish) also dont stress about falling below 0.03 IF that happens. clear shakeout to scare retail out of a dank trade. cheers
Long
by BingoMoney
1
ETH/USD HTF LongETH/USD looking very bullish on the HTF charts This week price wicked down to ~$1360 to retest the previous weekly All Time High (ATH) close which was printed the week of Jan 8 2018. At the same time it tested this S/R flip (which we still need to wait for 3d 7h to pass to ensure this flip is successful and confirmed bullish) we tested the first line of support on the Ichimoku trading system, the Tenkan-sen which (if confirmed) will add confluence to our belief that this S/R flip is the one we needed to have in order to allow for further ETH expansion, a close over the gold line @$1,476 would be ideal. The rest of the Ichimoku looks bullish as well: -Kumo Cloud is green -Tenkan is above Kijun -TK also above Kumo Cloud -Lagging span is above Cloud and above price -No C Clamps formed calling for much larger correction than we've just had The MA30 is well above the EMA100 and is showing no signs of price regression on the HTF. If this weekly candle closes as just a wick to retest previous ATH, expansion within the coming month or two towards the Fibonacci 1.618 level @$2,343 would be expected as our next price target. Once that is breached and price confirms on the weekly scale of an S/R flip of that Fib level, the next logical target HTF target would be the 2.618 level @$3,745 With Optimism, the L2 scaling solution coming to ETH in March which allows for cheaper fees and lower latency, As well as the the Canadian asset manager CI Financial filing for an ETH ETF bringing more attention to the Altcoin leader, we would expect these price targets to be reasonable.
POLONIEX:ETHUSDLong
by Hrempe
NASDAQ - I won't panic, sorry.Nasdaq's bull run was unreal. Out of this world. Irrealistic, many would say. We all knew this was going to happen at some point. Call me delusional, overly optimistic, or even naive. But I am not panicking just yet. We broke through resistance and a pull-back to the new support is a healthy signal. We need the Nasdaq to slow down, we need to put a break to impulse investing, to unreasonable pumps, and, most importantly, to the media pressure. If I was to treat this chart as a stock, I would place a limit order on the bounce, aiming for a perfect textbook entry point. I know that a bull-run will most likely follow after that. I might wrong, of course. After all, trading is not an exact science and I'm not considering fundamentals as well as behavioral finance in my analysis. However, I just feel it is too early to call this a crash. I will definitely be concerned if we break through the support line. Not until then, though. When it comes to my trading activity, I had already skipped trading tech for the past week or so, as I felt this was coming this week. I will now sit on the sidelines until I get some clarity. I might be back on Tuesday with new setups, or maybe the week after. If the sell-off continues I might add more short setups, as long as there is some rationale behind. Time now to be grateful for our wonderful August, study, enjoy a little break and hope for a new direction soon. I would love to hear your short-term outlook about the Nasdaq, where do you see it heading in September, and how this is going to affect your trading (or investment) plan.
NASDAQ:NDAQ
by maschera
3
Dax daily: 15 Jul 2020Yesterday's price action was a great example of the rational behaviour of the market participants. As we mentioned in our analysis yesterday, the zone around 12 592 was important for establishing further price development, with the break outside signifying the continuation in that particular direction. Dax oscillated the entire European session before gaining momentum in the afternoon and we could target our trades to previous day VPOC. That is exactly what happened and Dax closed the day at the fair value with the biggest amount of orders. Important zones Resistance: 12 882 Support: 12 592 Statistics for today Detailed statistics in the Statistical Application Macroeconomic releases NIL Today's session hypothesis Dax opened the day with an ascending gap and the first morning impulse attempts to close the gap. Considering the fact we have the resistance of 12 882 in near vicinity, we're now eying a lovely scenario of closing the gap as it correlates with the VPOC of Monday and then targeting the retest of resistance at 12 882 and possibly break higher. There are no fundamental releases scheduled for Dax today, but the optimism on the US stock markets dominates the market sentiment across the board, even despite the negative echoes of the US-China dealings. Consider it's the earning season too. Should the price get above 12 882, there is a lot of space ahead of us to continue our long bias in the short to the mid-term horizon.
EUREX:FDAX1!
by FTMO
SPX - DANGER - PUTCALL RATIO AT THE LOWEST SINCE MANY YEARSHello, This is the PUT CALL ratio at 0.52, saying that for every put there are 2 calls around. It is the lowest level since many years, meaning that 1- there is a lot of optimism in the market (usually followed by a drop) 2- investors want to ride this rally until it lasts, and for this goal it is better to have options that just the underlying. Of course the TF is weekly and we are just in the first day of he week so the data can change, but it is the sameon the daily also. I used the weekly TF just to show you more data in the past. Keep your eyes open
USI:PCSPXShort
by edutradinguru
1
SP500 vs. SP500%ABOVE200DMABreadth indicator % SP500 STOCKS ABOVE 200DMA reaches the 50% level. Level that previously have acted like a solid support and has marked bottoms. CBOE P/C RATIO AND SPX P/C RATIO have reached levels where markets find bottoms. "Buy when there is blood on the street" - they say Market is overpesimistic and algos have sold quickly on the TW news. When little bit of optimism data starts to surprise to the upside we might see NEW ATH til YEAR-END. 3rd slowdown in the business cycle since 2009 have just finished. Good Luck
TVC:SPXLong
by TG_Advisory
Does post-peak turbulence look bullish?One might infer signs of upward momentum within the dramatic turbulence of late. However, this impression relies heavily on the tiny upward movement on Friday, but which actually reflected the better part of the open hours of that trading day, which countered a sizable fall during after-hour trading. To me Friday's rally seemed pretty substantial given it bounced back from two days of all fall. That suggests to me lower support was hit. Next week will be an important week, and with Trump's steel tariffs to be implemented might be another rocky week.
DJ:DJI
by iGoddard
Maybe not so bad after all?Here's a predictive trend-based model that suggests the current turbulence might not foretell doom. The conspicuous parabolic movement at the start of this year was out of trend, and is simply being corrected back into trend, according to this hypothetical model. Curiously, notice that it's almost like sheering forces (yellow lines) shot across the trend at about a 45-degree angle to the trend defining the (a) slope, (b) peaks and (c) valleys of the turbulence to date.
SP:SPX
by iGoddard
4
Daybreak for the Pound/New Zealand?Good morning GBP/NZD, time to rise and shine :) My case for a strong bullish reversal on this Extremely Valuable Pair {EVP} is due to the fact that: (1) It has completed a multi-month Harmonic Wave Formation and (2) the GBP/NZD is positively correlated with FX:AUDNZD and that pair is trending very aggressively into a multi-year bullish uptrend due to both Australian Dollar strength and a weakening New Zealand Dollar. Time to get those Buy entries in ladies and gentlemen because the Bulls are out to play! I have no clue what the impact of a "Brexit" might do to the Pound but for now I'm surely long above 2.1170 due to NZD weakness. Around May 02, 2016 we should have a clearer picture whether price will push higher or continue in a downtrend. Remember the "Brexit" decision is on June 23rd so until then we trade what we see on the chart. Around June 27th another harmonic time interval occurs so we shall see what happens.
Long
by FractalEyeZ