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USD/JPY bullish reversal underway on the 4H timeframe?USD/JPY has printed a bullish reversal pattern on the 4H timeframe, bouncing off uptrend support in the process. And with horrible Japanese household spending data showing spending slumped 1.8% in the year to May against expectations for an increase of 0.1%, the likelihood of the BOJ delivering further near-term monetary policy tightening looks to be dimming fast. Unless we see weak payrolls report later today, which has not been the case over much of the past year with it beating expectations on eight of 12 occasions, the path of least resistance for USD/JPY remains higher. Buying here with a stop below the uptrend is an option targeting 1.61745 or the multi-decade peak of 161.952 set earlier in the week. Prior to the current candle, USD/JPY printed a morning star pattern that’s often seen at bullish turning points. RSI has also broken its downtrend, hinting at a potential shift in price momentum to the upside. DS
Long
by FOREXcom
FX Index Curve Oscillator (FICO)By constructing an index like TVC:DXY for each of the 8 major currencies, we can determine which currencies may be showing relative strength or weakness. This indicator was designed for trading FX on the daily charts. Other timeframes should work with the right settings, but it will not work for other asset types . AUD - Yellow CAD - Red CHF - Orange EUR - Purple GBP - Green JPY - White NZD - Lime green USD - Blue The US Dollar Index is constructed by taking a weighted average of a basket of currencies against the USD in order to gauge it's relative strength. We can actually construct a similar chart by simply taking the product of several currencies against the USD; it won't have the same values of course, but the chart's general shape (peaks and valleys) are approximately the same. This technique can be applied to other currencies, which is the premise of this indicator. The default settings seem to work "okay" for the daily chart. The lookback and oscillator are probably the biggest variables to change if you move to different timeframes. Some ideas on how to use this indicator: Using crossovers for a particular currency pair: Using color changes for a currency pair (one bright, one dark): Waiting for values to cross +/- 1.000 and change color: As above, but using all the currency indexes, and finding opposing pairs to trade:
Pine Script™ indicator
by KyleBaran
GBP/USD : Key Levels and Trading Strategies for Upcoming Moves📅 Let's get into today's analysis. I've decided to focus more on Forex analyses, and today we're analyzing the GBP/USD pair with the main timeframe being weekly. I'll be looking at the chart solely from a technical analysis perspective. 🔍 In the weekly timeframe, as you can see, after breaking the 1.31915 resistance level, bullish momentum entered the market, and we managed to move up to the 1.42385 resistance level. After this sharp upward movement, the market entered a correction phase and corrected down to 1.20670. Currently, the price is ranging between the 0.382 Fibonacci level and the 1.31915 resistance. I believe that until the SMA99 reaches the price, new bullish momentum could enter the market, and you can confirm this momentum by a break above 1.31915. If the candle closes below the 0.382 Fibonacci level, we might move down to the Golden Zone of Fibonacci, which lies between 0.5 and 0.618. 🧩 There is also a minor trend line that the price has reacted to three times so far, which could be a key determinant for future price movements. 🧲 Regarding the SMA99, it has the property of creating significant distances when the market is trending. However, it eventually acts like a black hole, pulling the price towards it. This is happening after the rejection at 1.42385, and I believe the price will range until it meets the SMA99. Additionally, this SMA acts as a support and resistance level, potentially supporting the price once it reaches it and pushing the price upward. 📈 For a long position on the weekly timeframe, it seems appropriate to wait for a break of the trend line and a confirmation above the 1.31915 area. The target for this move, based on Fibonacci extension, could be 1.42385. However, this target is quite high, and if the price aims to reach it, it will likely be a long-term move. 📉 For a short position, breaking below 1.20670 serves as a good trigger. If the price stabilizes below this level, it might move down to the area between 0.5 and 0.618 Fibonacci levels. This position is quite risky as the High Wave Cycle for GBP/USD is bullish, and this move in the Low Wave Cycle could be filled with noise. 📈 For shorter-term positions, it's better to look at the 4-hour timeframe. In this timeframe, we have a long-term range box and a significant support area at the 0.382 Fibonacci level on the weekly chart. There’s no need to extend the analysis here; I’ll just discuss the entry triggers. 📈 For long positions, we have three different triggers. The first trigger is at 1.2776, which is the riskiest one with a target of 1.31915. The next trigger is at 1.31915 with a target of 1.42385. The final trigger is at 1.42385. 📉 For short positions, there's a very risky position with a trigger at 1.2615, and the second trigger is the break of the support area. ♟ Now, let me explain how I personally trade with each trigger. For the long trigger at 1.2776, I open positions in lower timeframes such as the 1-hour chart and set a small stop loss to quickly reach a risk-reward ratio of 2, which is my first target, with minimal risk. For the 1.31915 trigger, I open a position with normal risk and a regular stop loss size. For the 1.42385 trigger, I open a position with a larger stop loss because the trigger is at an all-time high (ATH) and represents a very strong supply zone. For short positions, I do not open any until the price stabilizes below the support area. 📝 In summary, GBP/USD is currently in a ranging phase between the 0.382 Fibonacci level and the 1.31915 resistance level. Depending on the break above 1.31915 or below 1.20670, there are opportunities for long or short positions, respectively. For those trading in shorter timeframes, key entry triggers and careful risk management are essential to navigate the market effectively. 🧠💼 Always remember the inherent risks in Forex trading, with the potential for margin calls if risk management is neglected. Stick to strict capital management principles and use stop-loss orders, ensuring an initial target with a risk-to-reward ratio of 2. 🫶 If you found this analysis helpful and want to support me, please boost this analysis. Feel free to leave a comment or suggest a pair you'd like me to analyze next.
by itsparham96
5
Why I Think GBPUSD Will Continue to Buy This WeekHey Rich Friends, I know its NFP Week, but we can still make smart trades by sticking to our plans. Be mindful, but do not trade with fear. I think that GU will continue to buy this week and here is why: - The market has already rejected the previous demand zone. - The 3 EMA (blue) has crossed above the 10 EMA (purple). This is a strong bullish confirmation for me - The stochastic is facing up, the fast line (blue) is above the slow line (orange) and both lines are above 50. This is a strong bullish confirmation for me. - I will set my TPs at previous highs and my SL at a previous low Good luck if you decide to take this trade. Remember to check the news and cross-reference the indicators that you have on your chart. Peace and Profits, Cha
Long
by MoneyMantraCha
Trade the TREND with 4 Trend Indicators4 Trend Indicators you can use to identify the current MACRO Trend. It's always important to know where your market is currently trading. Is it bullish, bearish, or range trading? If you have established the trend, you can trade with the trend instead of against it. Trading against the trend ( for example shorting during a bullish cycle ) adds unnecessary risk to an already risky trade (leverage). 1) Bollinger Bands 2) Logarithmic View 3) Super Trend 4) Moving Averages + RSI Let me know how YOU determine the macro trend! _________________________ BINANCE:DOGEUSDT MEXC:ETHUSDT KRAKEN:BTCUSD COINBASE:SOLUSD
Education
by CryptoCheck-
4
Monthly Chart v. Weekly Chart May Indicate TroubleSince every dollar of price action is raising concern in either direction, let’s take an in-depth look at what’s happening with the price of Bitcoin. On the weekly chart (left), we can see the RSI is just starting to pivot and we can see the Stochastic RSI will have a cross in the coming weeks, usually indicating an uptrend. Price action has been within the same range for about three months, building healthy market structure. Then we get to the monthly chart. The monthly chart (right) is showing slowed momentum. We can see in the Stochastic RSI that the orange line is on top of the blue line – usually a bearish indication. This has me a bit concerned and considering how we’ve had ranged price action and are dropping from an RSI of around 80, it may be a warning sign of what's to come. Take a look at the green arrows on the monthly chart. Every time the purple line crosses above the yellow line, we see a price rally. Now look at the red arrows. When we see the purple line cross below the yellow line, price falls. The first red arrow you see, that was about a 70% drop. The second red arrow you see was about a 52% drop from the next pivot in momentum and a total of a 73% drop once RSI bottomed. This is when you want to have your strategy in place for if the weekly chart champions the monthly chart or if we do in fact have that RSI monthly purple line cross below the yellow and we go lower. Be ready for whatever the case may be! I'm thinking it's probable we may see a 50% drop before seeing all-time highs and the rally we've all been waiting for.
BITSTAMP:BTCUSD
by MicheLee
1
DOT's next move.CRYPTOCAP:DOT I see a bullish divergence on the daily chart at an important support level, and people are freaking out about how they spend money :) Sorry, but I trust what I see on the charts. The only invalidation point is $4.50. If you are still here, here are more of my thoughts... So what if #DOT paid big influencers to promote their project? Every project does that; it's their marketing strategy. It's good that they are investing in marketing because, in the crypto world, the cycle moves really fast, and to keep up, you need to spend on marketing. Many projects, including some of your favorites right now, have paid influencers. It's like the death toll shown on your screen daily during the COVID-19 pandemic, which made you worry every day. But in reality, the death toll was almost the same before COVID-19; it was just shown to you daily. You never know how much #ADA paid influencers. Disliking the idea of paying for and buying inorganic distribution is misguided.
Long
by GoldenTrades_
Dusk Network - 200% waiting to be collectedOn the above 4-day chart price action has corrected 70% since the year began. A number of reasons now exist to be long, including: 1) Price action and RSI resistance breakouts. 2) Regular bullish divergence. All but one oscillator continues to print positive divergence with price action. 3) Look left. Price action confirms support on past resistance. 4) Bull flag breakout. Flagpole measures 200% from breakout. 5) GRM support confirmed. Is it possible price action corrects further? Sure. Is it probable? No and no. Ww Type: trade Risk: <=6% Timeframe for long: Now Return: 200%
Long
by without_worries
3
TeslaPrice has taken support at 195 - 197 and broken the trend line. Sustaining the current level will make the price to move up. Patterns I am seeing in this chart are triple bottom support, RSI divergence, trend lone break out. Buy above 198 with the stop loss of 196 for the targets 200, 203 and 206. Sell below 194 with the stop loss of 196 for the targets 192, 189 and 186. Hit the like button to Rock !! Show some energy !! Note : This is my pre market analysis and my trading journal. Not a suggestion to buy or sell. You are responsible for whatever you do.
NASDAQ:TSLA
by vanathi
2
Fetch.AI HTF Fetch.ai soon to be ASI (Artificial super intelligence) after the merger with Singularity (AGIX) and Ocean protocol (OCEAN) has been a victim of the recent altcoin market drawdown. As on of the leading projects in the AI space, FET surged to a high of $3.47, since then price has been retracing back down the range created by the rally previously. BEARISH: Now back at range low FET finds itself in a key area where the bearish trend can continue, break below range and continue to fall. This would be mostly influenced by a further sell off in BTC as alts are still at the mercy of Bitcoin. Should BTC continue to reject the '21 ATH and 4H 200EMA levels then price will naturally search for buyers with conviction. This chop has already been devastating to the altcoin market without a big flush. So this outcome is not improbable. BULLISH: On the bullish side we have a very good R;R HTF entry level at range lows, in addition to a fully reset RSI in the oversold area compounded with a very bullish divergence being shown on the High timeframes. All three of these conditions add up to a high probability entry IF BTC behaves. Naturally if BTC decides to sell off then so will altcoins and FET is no exception. However, in this probability game this setup is one of the better LONG setups you could ask for. Couple that with the AI narrative and good fundamentals this looks bullish.
by ProR35
2
150x Potential on Tokenfi's TOKEN [LONG]Hello Traders, RWA AKA tokenizing "Real world assets" will be one of the next major breakthroughs in the fintech industry. From the team at FLOKI Coin they've created Tokenfi's TOKEN cryptocurrency which handles all the payments for tokenizing assets on all of the major blockchains. In the last couple of months the team completed thorough updates to bring tokenization of real world assets to every major blockchain. In one regard you can create your own cryptocurrency with a click of a button. As well as NFT projects. You can tokenize just about anything and with thorough and complete updates in the coming releases they are always adding quality over quantity to their code. This project is a first of its kind. People in the fintech industry have been talking about tokenizing real world assets for a couple of years now. The team at FLOKI and Tokenfi are the first to make this a possibility. Just a few months ago it was only for three block chains. Now they have almost every major blockchain. This is a sign of amazing things to come with future updates. As we look at the PMARP indicator on the daily chart we can see projections almost like the RSI where it is at an oversold time. This is already bringing in big investment money as you can see from the chart. I remember when TOKEN first started and I told you to invest at two cents. It already hit 22 cents from there. It went down to 5.8 cents and then back up to 17 cents. This correlates with Bitcoin. When Bitcoin goes up like it will by the end of the summer or sooner we will see TOKEN go up in a major way. Just take a look at the chart. At every moment when you see it is oversold on the PMARP indicator or the RSI indicator you can see that it made amazing gains! With a 78 million dollar market cap heading into a 3 billion dollar a year NEW industry the price of token could easily hit 50 cents, $1 even $2 and so on. So make sure to set aside investment for TOKEN cryptocurrency and remember to shout me out for who told you first. Love Rocket
UNISWAP:TOKENWETH_C7E6B6.USDLong
by Henrywaters
Perpetual Protocol (PERP) to $20On the above weekly chart price action has corrected 97% since September 2021. A number of reasons now exist to consider a long position. They include: 1) Price action and RSI resistance breakouts. 2) Support and resistance. Price action confirms support on past resistance (see arrow). Look left. 3) GRM support has already confirmed. 4) The falling wedge breakout and confirmation forecast a 5000% move from the breakout point. Forecast is measured from low to highest touchpoints within the wedge (blue circles). Is it possible price action corrects further? Sure. Is it probable? no. Ww Type: trade Risk: <= 6% Timeframe for long: Yesterday Return: 50x
Long
by without_worries
81
Market Analysis: Bitcoin and AVAX📅 Today's market conditions aren't significantly different from yesterday. Given that it's Sunday, it's essential to minimize risk and avoid unnecessary positions. I'll start with a Bitcoin analysis and then move on to AVAX. 👑 Bitcoin Analysis 🔍 In the 1-hour timeframe, as I mentioned yesterday, there was a potential reaction at 60718, which occurred around 60739. Following this, the price moved upward with strong momentum, forming two powerful bullish candles. However, volume has started to decrease, indicating that the bullish momentum has temporarily subsided. We need to wait for a confirmation to see momentum re-enter the market. 📈 For a long position, I still wait for a break of 62168, which coincides with the 0.618 Fibonacci retracement level. If this level breaks, the price could move up to 63583. If the RSI stabilizes above 70, we could consider entering a long position earlier. 📉 For a short position, our trigger has shifted slightly to 60739, considering the market's reaction to this level yesterday. This could be a good short trigger with a target of 59323. However, volume needs to increase in the market, so it might be better to wait until the new week starts. ⛓ AVAX Analysis 🗂 The AVAX project operates on its blockchain, where AVAX is the primary coin used for transactions, fees, staking, and DeFi applications. 🔍 In the 4-hour timeframe, after a decline, the chart hit the support level at 23.84 and started to correct, now moving upward in the Low Wave Cycle. However, the decreasing volume favors a bearish trend continuation. We can expect the downtrend to continue if the price stabilizes below the 23.84 support. 📈 For a long position, you can enter upon breaking 28.59, but keep in mind that the volume is low, and you're trading against the main trend. The target for this position could be 30.88. If the RSI enters the overbought territory, it can provide confirmation to keep the position open. 📉 For a short position, you can enter upon breaking 27.69, though this trigger is quite risky. The main short trigger is at 23.84; breaking this level allows entering a short position. A break of 50 on the RSI can provide a suitable confirmation for bearish momentum entering the market. 📝Both Bitcoin and AVAX are at critical points. Bitcoin's low weekend volume suggests caution, while AVAX presents clear short and long opportunities based on the triggers discussed. Monitor volume closely and ensure confirmations through RSI patterns to make well-informed trading decisions. 🧠💼 Always remember the inherent risks in futures trading, with the potential for margin calls if risk management is neglected. Stick to strict capital management principles and use stop-loss orders, ensuring an initial target with a risk-to-reward ratio of 2. 🫶 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.
by itsparham96
1
Composite way.Hi, everybody. This is one of those composite charts that are designed to help you understand a little more. First let me say that if you look at the larger timeframes, the whole market situation looks like some sideways movement. While some see a rise as early as tomorrow and others see the market falling, I see no clear signs of either right now. My personal opinion. But I do see something in the future. So, we take the capitalisation of all coins without BTC and ETH, subtract Tether additionally from it and divide by BTC. On the left is a daily chart, on the right 19D. Daily. I haven't switched on the Volume Flow Indicator (VFI) for a long time. There is a positive signal, the short volume EMA crossed the long EMA to form a golden cross. If the volume data is valid, it means that the process of pumping liquidity into Total3 is underway. The signal from the 9 seasons rainbow is ambiguous. We have as many as three fuchsia-coloured stripes signalling a crazy sell, and they have been replaced by light red stripes. In typical cases this is interpreted as: Crazy Sold (Fuchsia) -> Bear Bounce (Light Red): This normally indicates price has dropped to a new level In addition, the Whalemap Indicator recorded purchases in February this year at 0.43. It is assumed that the profit on these purchases is underperforming. Now the altcoin market is below this buying point. 19D. Here I will switch to Ichimoku and Stupid Willy. On the clouds we can see the "thin neck" area. Anyone who has been following my charts for a long time knows that I keep a close eye on these areas. When Senkou Span A and B come so close, it means an area extremely convenient for a resistance breakout. For price to break out above the clouds and start a run. On this chart, the neckline starts on 23 September and ends on 31 October. We can expect a breakout in this time frame, I think. Stupid Willy showed a switching trend signal from red to green as early as the end of April, and pretty quickly back to red again. However, these signals occur when the black EMA crosses the major signal line. And the black has once again come close to the leading line. I expect that by mid-summer we will have a sustained green. Past pumps have formed two tops on this chart. 1.34 and 0.98. Additionally, I will highlight the resistance level of 0.68. 0.68 is the first target that the TOTAL-3 should pass towards new tops. Unfortunately everything is still very slow. But we are not discouraged. I remember the summer and autumn of 2017, not everyone actually thought growth was possible. Killing faith is one of the tricks of this market.
CRYPTOCAP:TOTAL3
by averkie_skila
Long Term Analysis of Nifty my observations and a conclusion.The chart above is the chart of Nifty 50 since 1991. This chart here tells a few stories. I will tell you my version of these stories or observations you can derive your own conclusions from them: 1) India is a continuous bull market. There are blips due to Micro and Macro reasons but the chart keeps moving forward in the parallel channel. We are in the upper half of the channel since 2005 indicative of an economy that is moving forward and GDP that is continuously growing. There are couple of times when the market went into the lower half of the channel once was during the 2008 Sub-prime crisis and once during the COVID19 global crisis. Lot of countries of the world have still not come out of the trauma but we bounce back each time. This tells us about strength of our nation and our economy. 2) There is lot more room to grow before we hit the channel top resistance. Even in case of some major political event or market correction. We can get the mid channel support and the support of Mother line 50 Months EMA. 3) Relative Strength index is a lagging indicator used by a lot of analyst to check if the market is overbought or oversold. As per my observation over the years. We start to enter the overbought territory once the index is above 70. RSI above 80 is indicative of a market that is overbought. Similarly when the RSI levels are below 30 we enter the oversold territory and When RSI is below 20 we are in the highly oversold territory. Now if you look at the chart carefully each time monthly RSI of Nifty has gone near / above / substantially above 80 levels there has been a correction in the market. Some corrections have been large some not so substantial but inevitably market has corrected. Right now RSI of Nifty is 78.94. The levels to watch out for reversal / Consolidation / correction in my opinion can be anywhere between 79.88 and 91.35. I am not trying to scare you or predict a doomsday scenario, I am just presenting historic data in front of you. 4) Market can remain irrational for period of time beyond human comprehension. Market can remain irrational more than an investor can remain rational. So while we ride the upwave changing sectors and changing our stories and choices shuffling between small and mid and large caps do not forget to put in your stop losses and trailing stop losses. Stop losses are our friends that protect our capital and trailing stop losses are our friends that protect our profits. While we use them it can happen that a stock takes your trailing stop loss and again bounces back to huge upside but it is fine, either we learn or we win. If you have the capital you can invest again. If you will not have the capital it is an irreversible loss. Conclusion: Stay Positive but be cautious. Use stop losses with discipline and trailing stop losses generously. The chart shows that history repeats. The chart shows that India is a continuous bull market. The chart shows that long term investor will always win if he has discipline and follows a process in stock selection, profit booking and staying vigilant.
NSE:NIFTY
by Happy_Candles_Investment