BoringThe price is in a sideward range for more than 2 years now,. Insofar we should not expect to much now.
We have reached the bottom of the multiple resistance once again and might fluctuate a bit upward now. But one thing has changed: First time since May 2022 the cloud has turned bullish and we have reached its top what makes the support a bit harder.
Perhaps we may see a turnaround now. At least the downward risk is not large.
Oscillators
FLIGHT FLAREHi!
This is the situation on many altcoins, and FLARE is no exception.
A 4 hour or 1 day chart will tell you a little bit about what awaits this altcoin.
You need charts of at least 1 week, and preferably more.
That's 10D (as there is not yet the right history here to effectively apply 19D or 26D).
Watch the Ichimoku clouds.
The Tenkan and Kijun crossed with a golden cross. And soon crossed with the death cross.
In addition, the indication lines entered the cloud. But the Kijun is under the Tenkan and the candles are below both lines.
That's a bad sign, the price will fall out of the cloud.
We're probably talking about a retest of the bottom at $0.0078.
I'm going to place buy orders from 0.017 to 0.008 with 10% spacing between buy orders.
The green cloud may not start to form until the spring of 2025. I have schematically drawn it, while I am not clear about the potential of the asset, but judging by the chart it is big.
Long Kiwi setup looking for a revival in risk appetiteThe New Zealand dollar is a binary bet on how investor risk appetite evolves this week. Having plunged over the past fortnight before bouncing off horizontal support, a setup is in place to look for a reversal. We just need risk assets to oblige.
To reinforce how influential risk assets have been on the Kiwi, its rolling daily correlation with Nasdaq futures sits at 0.92 over the past month. With copper futures it’s an even stronger 0.95 and 0.89 with USD/JPY. It’s deeply negative with the VIX at -0.88, indicating that when volatility spikes, Kiwi usually tumbles.
That suggests Microsoft’s earnings report and speculation before the Fed are likely to heavily influence NZD/USD over the next 24 hours.
NZD/USD screens as decent long setup from a risk-reward perspective, oversold yet still able to bounce off .59593 at the first time of testing, an important level that has provided support in the past. While no guarantee this time will be the same, when RSI has sat at these kinds of levels over reccent years, it has often occurred around a market bottom.
Those taking on the long trade could buy above .58593 with a stop below for protection. Some selling may be encountered at .5900 but there isn’t any real visible resistance levels evident until we get back towards .5985 of .60491.
DS
Is Solana at risk of a price reversal? What historic trends say:Solana (SOL), the world’s fourth-largest cryptocurrency, gained massive attention as it broke out of the crucial resistance level of $187.
Following SOL’s crucial breakout, there is a high chance that it could rise to the next resistance, which is near $204.
However, there is also a concern among the new investors about a potential price reversal from this upcoming resistance.
According to the historical data and price action, whenever SOL has reached the $204 level, it has consistently experienced a notable price reversal.
Since March 2024, SOL has reached this level twice and experienced a significant price reversal each time, which is the reason for the concern among new investors.
As of writing, SOL is trading near $184 and has experienced a 4.5% upside move in the last 24 hours. Despite an impressive price surge, trading volume has dropped by 18% over the same period.
This decline in trading volume might indicate that investors and traders are conscious of the resistance level due to the historical price reversal.
According to technical analysis, SOL recently broke out of the crucial resistance level of $187, and was heading toward the next resistance level of $204.
Following this breakout, there is a high possibility that SOL could reach the $204 level in the coming days.
Relative Strength Index (RSI) is above 50, signaling trend steadiness.
Also, major liquidation levels emerged near the $180 and $203 levels.
This creates a potentially bullish outlook for SOL.
The Cloud is the BottomToday's steep fall was way to steep. We have reached the top of the rising cloud which will be a support. We could not stay below the Island which we had entered 12th-14th June. This signals an oversold status.
A correction of the fall since 16th June is likely now if not a resumption of the uptrend.
Beginning of the AJ Bull's END?!Here I have AUD/JPY on the Daily Chart!
Beginning in March of 2020 to what seems to be the new High @ 109.372 in July of 2024, we have seen the end of the 5th Wave of Elliot's Impulse Wave!
With Prices steep decline to the new LOWER LOW @ 99.209, knocking out the Low of June and Testing the Low of May, these are the conditions needed for what could potentially turn into a Correction Wave!!!
The Sellings have BEGUN!
-You can see that the RSI after this enormous drop in price Breaking Lows ( Structure) is now operating under the 50 mark & Oversold!
-The BB Trend is now printing Red Bars showing signs of Bears in the vicinity!
Where might Price go??
-If 99.209 is our True Lower Low we will be working with, I suspect price will make a STRONG retracement!
*Potential Retracement Levels*
( 103.091 - 103.691 ) - Golden Zone
( 104.291 - 105.490 ) - 50% / 38.2%
-Fundamentals-
*Uncertainty of BOJ decision mixed with the suspected COOLING of inflation on AUD may be just the catalyst we need to see this pull off!
AUD - CPI q/q & y/y - Tuesday, July 30th
JPY - BOJ Policy Rate - Tuesday, July 30th
Why I Think GBPUSD Will Buy This Week...Technical AnalysisHey Rich Friends,
I hope all is well! This is only a technical analysis of GBPUSD, so make sure you cross-reference your charts and check the news. I think this pair will continue to buy and here is what I am looking at:
- The 3 EMA (blue/smaller) has crossed over the 10 EMA (purple/larger). This is a bullish confirmation for me.
- The stochastic is facing up, the fast line (blue) is above the slow line (orange) and both lines are above. These are all bullish confirmations for me
- The candles have broken and closed above the top trend line. This is a bullish confirmation for me.
Additional confirmations you can wait for:
- Price to close above 1.28900
My TPs will be set at previous highs and my SL will be at a previous low.
Happy Trading and good luck if you decide to take this trade!
Peace and Profits,
Cha
FTSE 100 futures reverse hard to stage bullish breakoutFrom dire to delightful in the space of two sessions – that’s was the rollercoaster ride UK FTSE 100 bulls had to endure late last week with futures taking out stops layered below 8152 before reversing hard on Friday, taking out the 50-day moving average and downtrend resistance dating back to the record highs set in May. Closing at the highest level since June 24, it looks like the move may extend further this week with MACD and RSI triggering bullish signals, hinting at a potential retest of the former highs.
Those looking for this outcome have a variety of setups to choose from depending on how the price action evolves on Monday.
Ideally, a retest and hold above the 50-day moving average would be the preferred setup, allowing for a stop to be placed below the level for protection. Potential upside targets include 8351.5 and record high of 8489.
For those itching to buy the breakout immediately, you could place a stop below 8300 for protection. Targets would be the same as those mentioned above. The final option would be to wait for a potential break and hold above 8351.5, allowing for longs to be established above the level with a stop below to protect against reversal. That setup would need to target 8489 to make the trade stack up from a risk-reward perspective.
Even though the composition of the indices is very different, you get the sense Microsoft’s earnings report after the market close on Wall Street on Tuesday will be highly influential on whether the FTSE sees record highs this week.
Should the bullish momentum be sustained, it will come down to the market reaction to the Fed interest rate decision on Wednesday and Bank of England policy decision on Thursday. The Fed is likely to leave rates on hold but signal a rate cut is likely in September. The BoE outcome is far less certain with markets deeming the outcome a coin flip.
With other central banks turning dovish, I suspect we may see the MPC do a RBNZ and reprioritise growth over the threat of an inflation reacceleration, delivering the first cut of the monetary easing cycle. If it does cut, the signal on the likely path for rates in the future is likely to be more influential on the decision itself, so keep an eye on Governor Bailey’s press conference.
DS
Comprehensive Analysis of CFX✨ Welcome to my channel. Here, we analyze a new crypto project or Forex pair every day.
📅 Let's dive into today's analysis, focusing on the CFX coin in the crypto market.
🗂 About the Project: CFX, or Conflux, is a decentralized platform designed to facilitate the creation of decentralized applications and to support large-scale commercial use. Known for its unique Tree-Graph consensus algorithm, it aims to provide high throughput and low latency for blockchain transactions, making it a popular choice among developers.
📅 Weekly Timeframe Analysis
In this timeframe, CFX has experienced significant movements. Recently, it saw an upward trend reaching a peak, which was a critical supply zone. Following this, the price entered a correction phase with lower volume, suggesting the strength of the previous upward trend. Currently, CFX is at a support level of 0.1081 after a correction phase.
📈 If CFX stabilizes above 0.2336, we can anticipate a bullish momentum potentially pushing the price towards the next resistance at 0.5155. Confirmation of a new upward trend will depend on candle stability above this level.
📉 Conversely, if CFX falls back into the range between 0.1081 and 0.2336, and stabilizes below 0.1081, it indicates a bearish trend continuation. The next critical support level would be around 0.0539.
In both scenarios, volume analysis is crucial. A healthy trend should be supported by corresponding volume without any divergence.
📅 Daily Timeframe Analysis
On the daily chart, CFX ranged around the 0.1955 level before initiating another downward wave. Currently, there is noticeable bearish momentum, and the price has found temporary support at 0.1421.
🧲 Given the current setup, a stabilization below 0.1421 could signal another bearish wave.
On the flip side, if the price moves above 0.1955, it could indicate the start of a bullish trend, targeting higher resistance levels.
📅 4-Hour Timeframe Analysis
In the 4-hour timeframe, CFX has pulled back to the SMA99 and reached the resistance at 0.1976. Volume analysis shows a decrease, indicating potential exhaustion of the recent upward movement.
📈 For short positions, the key levels to watch are 0.1976 and 0.2611, where price reactions could provide better entry points.
📉 For long positions, critical levels are 0.1421 and 0.1081.
📊 RSI Oscillator
The RSI is currently ranging between 44.24 and 55.86 on different timeframes. Breaking these levels could provide confirmation for opening positions. However, always use these levels in conjunction with candle patterns and volume analysis to find the best entry and exit points.
📉 Given the current bearish signals in the daily and 4-hour timeframes, alongside the potential trend change in the weekly timeframe, I am inclined to open a short position. However, this is based on my trading strategy. Each trader should base their decisions on their strategies and risk management plans.
⚠️ Please note that this is not financial advice. I'm simply introducing this project to you, and remember always to do your own research.
🫶 If you found this analysis helpful and want to support me, please boost this analysis. Feel free to leave a comment or suggest a coin you'd like me to analyze next.
MKRUSDT - Bullish Continuation - Trend Line SupportBINANCE:MKRUSDT has broken the lower highs in a bullish trend and turning previous resistance into support areas. After retracing, price found support at the long term trend line as well. Expecting the price to continue the bullish trend and continue moving up from the current price!
Elliott Wave DemonstrationDemonstration of Elliott Wave Principles using Bitcoin chart:
Rules:
Wave 2 never goes below end of Wave 1 => checked
Wave 3 is not the shortest of Wave 1, 3 and 5 => checked
Wave 4 never goes below end of Wave 1 => checked
Guidelines:
Guideline of Alternation: Wave 2 and 4 alternates in form (sharp vs sideways), retracement (shallow vs deep) and duration (long vs short) => checked
Guideline of Wave Equality: Two out of three waves (1,3 and 5) tend to be equal in length and duration, Wave 1 and 5 meeting this guideline => checked
Momentum is highest during end of wave 3, end of Wave 5 normally creates divergence with price => checked
Volume during Wave 3 is normally the highest amongst Wave 1,3 and 5
Relations with Fib ratios:
Wave 2 retraced Wave 1 by 78.6% (deep)
Wave 3 was equal to 261.8% of Wave 1 (longest)
Wave 4 retraced Wave 3 by 38.2% (shallow)
Wave 5 was equal to 100% of Wave 1 (Guideline of Wave equality)
Dogecoin On The Rise!! .. But For How High??Here I have Dogecoin on the Daily Chart!
Starting with Technical Analysis:
Since its visit at the High in Dec. 2023 (.0945 - .1020) Support Zone, Dogecoin has had quite the Bullish Run!
Currently this rally is being halted @ .1363 as Price is testing not only the (.1280 - .1440) Resistance Zone but the Falling Resistance based off the Highs in March & May!
If price is able to overcome these obstacles ..
What lies in wait??
..Previous Highs
1) Price will have to contend with the (.1700 - .1800) Resistance Zone
2) Price will have to contend with the (.1990 - .2200) Resistance Zone
.. After that, well lets just focus on the here and now
*Based on the bearish pressure Dogecoin is facing considering on the Daily, Price is hitting Resistance Bollinger Bands, we could see a drop to the down side to test the (.1280 - .1300) area this rally was able to Break IF the Falling Resistance is able to Hold Price Below it's current High @ .1363.
*IF this drop is contained by the (.1280 - .1300) area and price is able to stay relatively above the 200 EMA, this could be good indication of Bulls in the area ready to push price higher!
Now Fundamentals
There's already been a lot of hype on the cryptocurrency for those who follow the fundamental side of trading with the ENOROMOUS transaction made with said currency:
www.tradingview.com
Along with the strong boost to cryptocurrency by the "Pro-crypto stance under Donald Trump's Leadership - should he win - will further fuel enthusiasm."
www.tradingview.com
*I currently hold 107 Dogecoins but could be looking to add very soon
-Stay Tuned!
VERY BULLISH ON FTM. Do Not Miss!High Time Frame POC tapped, Weekly level tapped, previous daily high broken, RSI Oversold, Double bottom pattern, high volume node above (Target) 22% away.
Chart looks bullish long term.
Calculate Your Risk/Reward so you don't lose more than 1% of your account per trade.
Every day the charts provide new information. You have to adjust or get REKT.
Love it or hate it, hit that thumbs up and share your thoughts below!
This is not financial advice. This is for educational purposes only.
StormX (STMX)On the above 4-day chart price action has corrected over 90% since the sell signal(not shown). Today is great long opportunity. Why?
1) You know why.
2) RSI and price action resistance breakout.
3) Strong bullish divergence. Multiple oscillators print positive divergence with price action over an extended period.
Is it possible price action falls further? Sure.
Is it probable? No.
Ww
Type: trade
Risk: <=6% of portfolio
Timeframe: Now, don’t sit on your hands.
Return: Will say elsewhere
Sainsbury £200 to £300 playStock should be trading around £300 / + 150% in 18 months. Not a bad trade for investors looking to play it safe in the face of an 'alleged recession' being in the post. The stock has been trading inside this descending triangle for years and just confirmed support on the bottom.
The monthly chart below confirms the bullish divergence.
NKN - 100x opportunityOn the above 1-day chart price action has corrected 95% since April 2021. A number of reasons now exist to be long, including:
1) The ‘incredible buy’ signal.
2) Broken price action and RSI resistance.
3) Price action is testing past resistance (green line), look at the weekly chart below.
4) Price action has corrected to the golden ratio (see weekly chart below).
5) Nudge nudge wink wink. Don’t know what I mean? Shame.
Is it possible price action falls further? Sure.
Is it probable? no.
Ww
Type: trade
Risk: <=6% of portfolio
Timeframe: don’t know.
Return: $8 or 100x
Weekly chart
3-day BTC pair
EURAUD - FakeOut + Potential Bearish BreakoutTaking a look at the 4 hour timeframe, price action attempted to break and hold above the high timeframe resistance. However following the 4H rejection candle, prices began to drop towards the ascending support.
Question now is.. will this ascending support break and hold. ATR and RSI are both giving us early clues that it will.
Trade Safe
$SPY July 26, 2024AMEX:SPY July 26, 2024
15 Minutes.
The short below 549 worked out well.
Oscillator divergence around 555 to 565 played
out well in 15 minutes.
Noe considering the move 565 to 546 to 556 we can expect 528 as target being 1.618 level for this move.
However, 535-536 is 200 averages in 3-hour time frame, hence that will be the first target.
And in 15 minutes we had a divergence between 543 and 537. So, a pullback to 547 was done.
That move retraced nearly 50% for the fall 556 to 537.
At the moment we have sell on rise probably until 553 is crossed being 200 averages as of now.
So, for the day due to oscillator divergence in place i will not short.
If there is a retracement to 544 levels depending on parameters i might take a call.
Finally for the rise 493 to 566 AMEX:SPY has retraced 38.2% being 537 levels.
50% retracement would be 529 levels.
Hence for the moment 528-530 is important level on downside.
QQQ Intraday $100 to $2500 with options RECAPQQQ is shown here on the 15 minute time frame. Overlaid are a HMA 7 and SMA 5 to provide
moving average crosses. QQQ made a "M" pattern. Options charts are shown in the updates.
First Trade SQQQ is opened at 9:48 for $ 6.00 per call contract times 16 contracts. It is closed
at 10:05 less than 20 minutes later at $20.00 per contract. $96 dollars the only risk in the trade
is waiting to settle as is the $ 224.00 in profit. ( This is a same day expiration intraday trade)
Second Trade QQQ as QQQ has topped and is pivoting down. The second trade of the day
is not a same day expiration as it is now Friday afternoon, a put option in the direction of the
trend is taken for Tuesday the 20th, there being no puts for the Monday holiday.
The floating profit is $ 224 and the strike is set for below the money in the current direction of
the trend. A strike of $ 429 selected. The options chart is shown in the updates.
The premium was 0.37 so $37 per contract so six contracts were taken for a total of
which is $222 or slightly less than the profit on the first trade. The trade is taken at 14:47
market time and closed about 90 minutes later at 15:52 before the close.
The contracts sold at close for $ 1.41 each yielding $ 141 per contract or $ 2256 overall.
Between the two trades $100 was risked and $ 233 + 2256 or 2489 overall.
The Reward to Risk ratio was about 25. The profit and the initial $100 into the trades
awaits settlement after the holiday.
This trade was made to teach a mentee about the power of options leveraged with narrow
expirations to optimize profits and not spend a lot of time in the trade to minimize risk
in the market from any number of potentials. Alerts and notifications centered on moving
averages and rise or fall of intraday low time frame relative strength are used to lessen
screen time. Twenty baggers may not be everyday but then again with practice and patience
they can come along often enough.
BASF - An Investment pick with more than 70% ROI.The stock has been in an up trend.
It has broken its all time high in 2021 and in good consolidation for 2 years and broken out of consolidation now.
It has broken out of a bullish flag and pole pattern / falling channel pattern in a 3 M timeframe.
One may also consider this for a swing opportunity , RSI intact in all time frames.
Weekly price action shows, that the stock has broken out of falling channel, retested and reversed Consolidated for 7 weeks. Weekly RSI took support at 60 and bounced. Looks ready for a swing. SL - Previous week low at 3155. Target 1 - all time high, 3880.
Health Care ETF May Have Broken OutMany observers have spoken recently about market rotation. They often cite money shifting from megacaps to small caps. But another forgotten sector could be benefiting as well: healthcare.
The first pattern on today’s chart of the SPDR Select Sector Health Care ETF is the June 24 close of $147.09. XLV was trapped below this approximate level since late February, but crossed above it earlier in July. Prices are bouncing after retesting it last week. Has old resistance become new support?
Second, you have a series of higher weekly lows since mid-April. Those may reflect accumulation by long-term investors.
Third, prices are near the 50- and 100-day simple moving averages (SMAs). Both SMAs are also near each other, which may create potential for price expansion.
Finally, MACD recently tuned positive.
Standardized Performances for the ETF mentioned above:
SPDR Select Sector Health Care ETF (XLV)
1-year: +9.81%
5-years: +58.70%
10-year: +142.80%
(As of June 28, 2024)
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