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Natgas - Pending RSI Failure SwingThis is an idea of what to look out for if natgas continues to rally into overbought RSI territory and tops out as it did in May and June of 2024 (current year). Look out for overbought RSI divergence followed by a failure swing as shown and outlined in further detail in the idea linked below, probably confirmed by MACD divergence as well. Look out for an approximately 40-day duration of top formation once RSI enters overbought territory, plus or minus 20 days. Be prepared for a max draw down of 2.14% if you short the close of the day the failure swing is confirmed. The previous gain was 29.16%. Due to the high draw down %, it may make sense to short a QG micro which is 1/4 of an NG contract, possibly adding more on the way down at your discretion. The trade entry may happen later this year, approximately mid November. Also something to watch out for is a much sharper rise with a much shorter RSI failure swing pattern as was formed at the start of the year 2024 (current year), also shown on the chart. The drawdown was much smaller and the target much greater (50% gain) but the short duration made the failure swing more suspect. It’s better if more than just 5 days form the top and a deeper valley is formed. This is all very hypothetical, but these are the types of swing trades I watch for and it’s good for me, if no one else, to note these potential trades as they approach. Please feel free to ask questions. Previous failure swing idea with additional explanation:
PEPPERSTONE:NATGASShort
by Skipper86
EURUSD: Dollar going stronger than EuroThe orange circle, shows the exact moment where, at the same time, ICEUS:DX1! crossed over CME:6E1! and the 200-sma was in the middle of this crossover. The Dollar futures are gaining stregth while on the other hand, Euro futures are falling in price. After the crossover, a strong bearish candle cross the support, the price remain in congestion with yesterday price closing at 1.10533. Today the price is already below a support during early september and a resistance in the week after. Indicators: Besides the 200sma. The RSI is projecting to go overbought or at least close, while DMI- is increasing the direction and ADX is confirming the trend strength.
Short
by AFCapital21
30% to 60% Upside Coming for Natty (Divergence Strategy)A powerful monthly bullish divergence just confirmed on natty. We see that the CCI had a monthly close which confirmed the bullish divergence setup. In this video I review how to determine targets with this strategy, and how to determine your risk. I anticipate a minimum 30% rally from current prices for natty, possibly heading up 60% from here. This doesn't mean this market won't have a pullback in the meantime. In my opinion, pullbacks are for buying until these price targets are reached. If you have any questions about this strategy, feel free to shoot me a message. Have a great week.
NYMEX:NG1!Long
by Tradius_Trades
18
Harmony Gold Could Be Near a BreakoutHarmony Gold Mining rallied sharply in March and April. Now, after a period of consolidation, some traders may see potential for a breakout. The first pattern on today’s chart is the range between $8.50 and $11. Prices are nearing the upper level. A close above may confirm resistance is fading. Second is the series of higher weekly lows since mid-June. Those could indicate a longer-term uptrend. Third, rising MACD may reflect bullish momentum. Finally, the macro environment (falling interest rates and geopolitical risk) may favor gold miners like HMY. TradeStation has, for decades, advanced the trading industry, providing access to stocks, options and futures. If you're born to trade, we could be for you. See our Overview for more. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options or futures); therefore, you should not invest or risk money that you cannot afford to lose. Online trading is not suitable for all investors. View the document titled Characteristics and Risks of Standardized Options at www.TradeStation.com . Before trading any asset class, customers must read the relevant risk disclosure statements on www.TradeStation.com . System access and trade placement and execution may be delayed or fail due to market volatility and volume, quote delays, system and software errors, Internet traffic, outages and other factors. Securities and futures trading is offered to self-directed customers by TradeStation Securities, Inc., a broker-dealer registered with the Securities and Exchange Commission and a futures commission merchant licensed with the Commodity Futures Trading Commission). TradeStation Securities is a member of the Financial Industry Regulatory Authority, the National Futures Association, and a number of exchanges. TradeStation Securities, Inc. and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., both operating, and providing products and services, under the TradeStation brand and trademark. When applying for, or purchasing, accounts, subscriptions, products and services, it is important that you know which company you will be dealing with. Visit www.TradeStation.com for further important information explaining what this means.
NYSE:HMY
by TradeStation
Bearish divergence on GBPUSD daily chart; sterling overbought?GBPUSD has been in an uptrend since April 22, 2024, and has accumulated a 9.19% increase between April 22 and September 26. On August 27, the RSI indicator recorded a reading of 74.96, signalling a possible overbought situation. On September 26, the reading was at 71.68, which was slightly lower than the previous RSI reading. On the other hand, on August 27, GBPUSD was trading at 1.3264 before rallying to 1.3431 on September 26 – a marked gain over a monthly timespan. Sterling has since given up some of its recent gains, trading around the 1.33 mark. The pound has notably been the top performer among G10 currencies this year, rising over 5% against the dollar and 4% against the euro. Its strong rally began in late April, following a brief dip below $1.23. Sterling has appreciated by close to 10% against the U.S. dollar since last October. On a trade-weighted basis, sterling is now at its highest level since the UK's 2016 Brexit vote, just 2% below its pre-referendum level. Blistering rally for sterling on BoE, Fed rate divergence The currency's gains have been driven by expectations that UK interest rates will stay higher than those of other nations, due to persistent inflation in services and a surprisingly resilient economy. Technical indicators, however, indicate that there may be signs of a potential reverse in the trend for sterling. Some analysts have also noted that the sterling-to-dollar pair may start to look expensive soon as expectations for a 50-basis-point (bps) rate cut by the U.S. Federal Reserve will start to look misplaced. Fed Chair Jerome Powell recently pushed back against forecasts of another outsized 50bps cut, saying he sees two more interest rate cuts, totalling 50 basis points, this year as a baseline “if the economy performs as expected.” Bearish divergence may be in play for GBPUSD A classic bearish divergence occurs when the price reaches a higher high than the previous one, while the oscillator forms a lower high. This pattern often indicates a potential for a stronger pullback or trend reversal. On October 1st, the price dipped below the 8-period Simple Moving Average, and with a classic bearish divergence currently in play, this suggests a potential bearish pullback in GBP/USD. The sterling-to-dollar pair may drop to the 1.3028 level, where a support zone is expected on the daily chart. Disclaimer: 76.3% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Past performance is not necessarily indicative of future results. The value of investments may fall as well as rise and the investor may not get back the amount initially invested. This content is not intended for nor applicable to residents of the UK.
Short
by Marketscom
2
Make or break day for Australia’s ASX 200For all the headlines surrounding the conflict in the Middle East, many markets remain respectful of levels on the charts, providing traders will some form of certainty in an increasingly uncertain world. Australia ASX 200 SPI futures is among that list, kissing uptrend support in overnight trade before bouncing into the close. But whether the rebound can extend is questionable; we saw a bearish engulfing candle on Tuesday and RSI (14) has diverged from price, signalling another test of the uptrend may prove more fruitful for bears than raids of the past. MACD also looks heavy, suggesting it may soon confirm the signal from RSI. If we see a bearish break, traders could sell with a stop above the trendline targeting an initial pullback to 8137. Below that, the 50DMA and 7918 are the next levels of note. Alternatively, if we see another retest and bounce from the uptrend, consider reversing the setup, buying the bounce with a stop below the level for protection. The obvious target would be the record high of 8334 set in late September. Good luck! DS
ASX24:AP1!
by FOREXcom
MHUA Chinese Med Tech Penny StockMHUA is shown here on the daily chart. It is currently trading at about 90% off its high of the year. It is in the high volume area of the long term volume profile suggesting there is sufficent liquidity to support active trading. Recent volume spikes suggest buying volume increases with the spikes being about 10X relative volume. Price is over the POC line of the volume profile demonstrating that buying pressure exceeds selling pressure. Price is at or near to one standard deviation below the mean anchored VWAP and so in the undervalued area as confirmed by the RSI Stochastic < 20 %. Chart patterns include an engulfing " big ass " candle on 5/1 and a three-bar strike with another engulfing green candle on 5/12. Both of these could be considered long entry signals especially when supported by the price above the POC and the RSI. I will take a position risking 0.25% of the trading account to begin the trading week. I am targeting a gain of $15.00 per share being a 50% retracement back to the high YTD and a 300% return on investment. I will take a 100 share position and close 10 shares each time the price rises by $2.00. This will adequately mitigate the risk of a volatile penny stock while adequately rewarding the risk taken.
NASDAQ:MHUALong
by AwesomeAvani
US small caps coiling again following bullish breakout Traders should be alert for a breakout in Russell 2000 futures which are coiling in yet another triangle pattern. Having entered from below and with three consecutive higher closes, it feels like if there’s going to be a breakout, it’s most likely going to be bullish. Momentum indicators are pushing higher, bolstering that view. If we see triangle resistance give way, consider buying the break with a stop beneath the level for protection. The initial target would be 2305, the high struck on September 19. Another option would be to wait for a potential retest of triangle support. If the price were to bounce from it again, you could buy with a tight stop below for protection. Targets include triangle resistance and 2305. Prospects for both setups would likely improve if accompanied by signs of further modest easing US labour market conditions, allowing for the Fed to cut interest rates without sparking renewed fears about demand or the broader economy. Therefore, the JOLTS survey and ISM manufacturing PMI out later Tuesday could be very influential on the performance of small caps during the session. Good luck! DS
CME_MINI:RTY1!Long
by FOREXcom
NVDA breaks below with mixed feelingsNVDA very recently breaks below its upward trend, but other factors make its break below uncertain. Volume has been decreasing since its selloff at the peak of the 26th indicating disagreement RSI has been holding flat at the 50 line instead breaking below MACD also has not been moving into bearish zone just yet. The break below is of concern, but so far we are not seeing signs that this will trigger a violent sell off yet. The sell off maybe more muted before turning around back into another rally again.
NASDAQ:NVDA
by ratchet-mint
NVIDIA - A leading Indicator for the AI trend and market NVIDIA - NASDAQ:NVDA 🟣The upper purple parallel line is acting as resistance to price at present. A rejection from this long term purple line may be an early warning signal of a significant correction. A break above it would suggest continued positive momentum. ⏳In combination with the above considerations, a breach down and out of short term parallel channel would be a secondary warning signal of a trend change to the negative. ⏳Falling below the 50 week SMA (red) would be a third confirmation of a negative trend shift. Obviously these levels could all act as support but if they are lost one after the other (price falling below them). It could be an early warning sign of this AI trend slowing. ✅Otherwise, a repeated 142-152 week bull trend out to June 2025 or April 2026 probable for now. Why Watch Nvidia closer than the rest? ▫️ Apple, Microsoft and NVIDIA are the top three largest companies in the world by market cap. Collectively they are almost $10 trillion worth of market capitalization. That is almost 22% of the total market cap of the S&P500 Index, so all 3 are worth watching for warning signs or positive momentum. ▫️ Nvidia could lead the market as it is providing the shovels (graphics cards) for the AI data digging/sorting and general compute/data storage. If their performance starts to wane its a signal of less digging/sorting and a slowing of purchases from NASDAQ:AAPL , NASDAQ:MSFT (indicating slowing growth in both). Keeping a close eye on this chart could provide the early warning signals of a trend change, both on the AI front and the entirety of the market cycle. There is no guarantee of the time sequence continuing on this chart however, these cycles tend to rhyme over time. I hope Nvidia breaks above the purple line at the top of the current long term channel. At present it is stiff resistance, and if price is rejected from here lower, this could be an early warning sign of the a market correction. Remember, you can check in on this chart and press play to get updated data at any time by clicking the link in the comments below or by following me on TradingView. PUKA
NASDAQ:NVDA
by PukaCharts
Ethereum Stability Amid Market Volatility and Promising OutlookAccording to the latest data, the Stochastic Oscillator reveals a divergence between price action and market momentum. While the price of Ethereum has experienced higher lows, the oscillator shows a lower high. This divergence suggests a strong possibility of a bullish reversal, meaning Ethereum’s price could rise after bouncing off its support levels. This pattern is a positive signal for Ethereum traders, especially those looking for buying opportunities during the current dip.
Long
by AlgoVesting
BTCUSD - BullishThe BTCUSD chart is currently exhibiting a strong bullish trend marked by a series of higher highs and higher lows. This pattern indicates sustained upward momentum, providing traders with favorable entry points. Higher Highs and Higher Lows: The consistent formation of higher highs and higher lows reinforces the bullish trend, suggesting that the price is likely to continue rising. Absence of Divergence: The lack of divergence further strengthens this bullish outlook, indicating no signs of potential reversals or weakening momentum. Conclusion In summary, the BTCUSD chart shows a robust bullish trend, with indicators supporting further upward movement. Traders should remain vigilant for any changes in this pattern.
OANDA:BTCUSDLong
by gulraizali90
1
Long Nikkei 225 setup with momentum remaining bullishNikkei 225 futures look terrible on the dailies, with a shooting star candle followed up by a big bearish candle on Friday, completing an evening star pattern. Convention suggests downside risks are building, but I’m not going to follow convention today. Sitting just above the 50-day moving average, a decent long setup has presented itself, especially with USD/JPY moving off its lows in early Asian trade. RSI (14) and MACD continue to generate bullish signals, making me more inclined to buy dips, bolstering the case for longs. You could buy around these levels with a tight stop below the 50-day moving average for protection, targeting 38425 initially. A break of that level may bring a push towards 40000 into play. Good luck! DS
SGX:NK1!Long
by FOREXcom
Dogecoin - Going upbut only for a little while. Do not believe this is another January 2021 moment, there's good reason for that. For other tokens, yes. For Dogecoin, a rally into a continuing Macro Downtrend. On the above 3-day chart price action has corrected 90%. An excellent long opportunity now exists. Why? 1) Price action and RSI resistance breakouts. 2) Price action prints a triple bottom on past resistance. 3) Some other reasons but will not say here. Is it possible price action falls further? Sure. Is it probable? No. Ww Type: trade Risk: <= 6% Timeframe: Act now Return: Will say else where
Long
by without_worries
48
Weekly SOLANA Chart indicating BULLRUN soon! Fellow Solana Investors, Please comment your thoughts on my analysis I've been watching the Solana price and I'm noticing that on the Weekly chart, SOL is showing upcoming bullish confluence between the RSI/RSI-MA14 and the MACD crossing the Signal Line (above the histogram - which is bullish). Also, the price actions of Solana seems to follow previous patterns of past bullish and bearish runs of the market over the last year. The current price action and indicators appear to show a possible break of the top resistance trendline. Which, to me would indicates an upcoming bullrun, expesially if it breaks that top trendline which could result in a new leg up to a new ATH (All Time High) for Solana. I don't follow Bitcoin as much, but bitcoin is about to breaks it's own top trendline, since solana follows footsteps with BTC price action pretty well.
KRAKEN:SOLUSD
by RichRangatang
7
Golar – naturally gas lit, or weighed by liquefication? Natural Gas has been flying lately, and I have a feeling GLNG has been lagging. This is a company that liquefies natural gas at sea, and they are a world leader at this. Looking at the daily chart the stock has been in consolidation since mid-June, until it broke out of the channel two days ago. MACD, OBV and RSI are aligning, and the EMA20 has crossed up over EMA50. I feel this is a breakout, and it happened on high volume. ATH was $62.62 all the way back in Oct 2014, and the current price is the highest since June 2015 ($50.85). Realizing the trimester up to and including October often is the peak of natural gas, I believe we could see more upside to this stock. Seeing as there are no obstacles until $50.85 this is where I will place my target. This is a 35% upside from today, so obviously keep track and follow world events for potential exit levels prior.
NASDAQ:GLNGLong
by WeRideAtDawn
2