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$QQQ Analysis, Key Levels & Targets for 10.29.24
Alright, y’all…. So I am still sick so no videos until this get’s cleared up.
But here is the chart for today.
I feel good enough to maybe trade today but still kind of Meh… LOL…. I don’t get sick often and MAN this stinks.
So a regression trend off of those two highs (dashed green line) point to that gap from last Thursday with the 1hr 200MA as an area of interested.
The direction here is sideways and slightly up (very slightly) still moving with the momentum us the moving averages underneath us here.
Up gap from Friday with the 30min 200, Upgap from Thursday with the 2hr 200MA and the 50DMA underneath us. 499-500 resistance.
Top of the implied move at 500 and the trading range for Wednesday is wider
Lots of big earnings this week and I wish I was feeling better to work on some of them…. GL, y’all
DOGECOIN BREAKOUT ALERT! | 3 Scenarios to Watch for Morning, trading family! Let’s break this down. Dogecoin’s been hanging out in this range, but it looks like a breakout’s on the horizon. I see three ways this could play out, so here’s what I’m watching.
Scenario 1:
If we get a clean breakout from here, we’re likely heading toward 0.1745. If that level holds, we could see it push even higher, up to 0.1847 and beyond.
Scenario 2:
There’s a chance we pull back first, dipping into the 0.162 to 0.159 area. If buyers step in, we could bounce from there and make our way back toward 0.17 to 0.1745, and maybe even higher.
Scenario 3:
The market could also take us a bit lower, down to 0.1550. If that happens, it’s not the end of the world—a strong bounce from there can still send us back to 0.17 and beyond over time.
What do you guys think of this analysis? Do we pop straight up, or do we dip first? Let me know how you’re seeing it—drop a comment below. Always love hearing your thoughts.
Mindbloome Trading/ Kris
Trade What You See
The $100,000 Bitcoin Chase: Can You Catch It?Hello traders,
It's been a while since BTC reach all time high $73000 spot. As you traders notice that price started making all those LH, HH and even LL making the market in a state of uncertainty.
In fact, the BTC market is accumulating a very strong momentum making ready to skyrocket at time especialy at this time when Gold is making superbe HH.
I am seeing Bitcoing nothing but going forward the golden spot $100000!
Keep a close eye on the market and never miss the great opportunity when it comes.
Good luck!
Downward channel formed!The maximum target price is around $300 for the coming 12 months. We have enough time to reach that price if everything goes well with AI and iPhone 16.
Average price target is $244.12 - again this is over next 12 months, which means it is currently too close to the average for next 12 months, indicating a price correction.
Apple seems to have formed a downward channel, plus seems to be forming Head and shoulder pattern on 30 mins chart. I expect it to fall to 228 at least before the earnings.
NVDA: AnalysisOn NVDA we are faced with two situations. In the event of a strong break of the vwap and the resistance line we would have a high probability of seeing the market go up!! Furthermore, if it is the support line which is broken forcefully we would have a good chance of seeing the market fall.
#USDJPY - UniverseMetta - Signal#USDJPY - UniverseMetta - Signal
H4 - Fixation behind the trend line + breakout of the local level. Potential completion of the impulse on D1. An additional entry point will be when the 3rd wave is formed. Stop behind the maximum.
Entry: 152.694
TP: 151.301 - 149.238 - 147.791 - 144.607
Stop: 154.051
USDJPY Buy Summary USD/JPY chart appears to show a channel pattern with both upper and lower trend lines, suggesting the pair is trading within a defined range. The price currently sits near the midline of this channel, indicating a potential opportunity for continuation or reversal.
The channel’s upper and lower trend lines provide key resistance and support levels. The price action within this range indicates that traders might expect it to stay within these boundaries unless there’s a significant breakout.
There’s a clear resistance level around 153.912, with support at 152.405 and 151.492. These levels might act as decision points, where price could either continue or reverse its direction.
Overall, if the price respects the channel’s lower trend line, a bullish entry aiming for the upper trend line could be reasonable. However, keep an eye on the key support and resistance levels, as well as any external events, as they may influence the price movement significantly.
Will the job data impair the US dollar gain?Macro theme:
- The dollar remained steady despite short-term volatility, reflecting mixed economic data. US Sep Retail Inventories and Oct Consumer Confidence exceeded forecasts, while Sep Job Openings fell short.
- Treasury yields reached multi-month highs early but declined following a strong seven-year auction.
- With the US job report—the last before the FOMC meeting—approaching, storms and strikes could complicate interpreting the data, introducing further uncertainty around the dollar’s direction.
Technical theme:
- DXY is consolidating in a small range at the top and looks stretched. This is vulnerable to a potential mean reversion. The price is trading away from both EMAs.
- If DXY extends its gain above the previous swing high at 104.60, the index may rise to 106.00 resistance.
- On the contrary, if DXY closes below 104.00 support, the index may decline to retest 103.45 support.
Analysis by: Dat Tong, Senior Financial Markets Strategist at Exness
How I Position Size: sizing positions as an active investorHey, guys. Wanted to cover a brief overview of how I size my positions of late as I think about how to invest/trade a trend. I will plan to mark this video as an analysis video. Middle part of the video will be reviewing my past activity in NASDAQ:RIVN and how that has helped me learn to temper position sizing as much as possible.
After the Eleven Minute mark, I take the opportunity to review $NYSE:NCLH. I talk a little bit about what position sizing might look like there as well. Position sizing is certainly the most important aspect of trading - especially as you are looking at taking part in long term trends. The volatility within a long term trend can be quite significant (which of course can present opportunities in its own right) and you want to put yourself in the best position to take advantage of a great, long term move. To me, this means entering a position with responsible size so that you are not exiting a potentially great trade too early, or, even worse, with a loss.
Anyway, hope you guys enjoy, and best of luck out there!
Could Ethereum drop from here?The price has reacted off the pivot and could drop to the 38.2% Fibonacci support.
Pivot: 2,651.09
1st Support: 2,557.66
1st Resistance: 2,766.07
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Traditional markets quiet, bitcoin making movesIt’s been relatively calm in traditional markets. Currencies are flat, stocks are steady, and commodities are consolidating.
Meanwhile, cryptocurrencies are heating up, with Bitcoin making a push back towards its record high from earlier this year.
Gold is holding just under record highs, and oil is consolidating after another sharp drop at the start of the week—two very different stories in the commodities space.
On Tuesday, Japan’s Akazawa commented on the yen’s weakness, noting that authorities are closely monitoring the political landscape. Additionally, reports indicate Japan’s Prime Minister may seek support from the opposition Democratic Party to form a partial coalition.
In the Eurozone, German consumer confidence showed strength, while in the UK, mortgage approvals reached their highest level since the fallout from the mini-budget of 2022.
Looking ahead, key releases include the Bank of Canada’s MPR, Canadian wholesale sales, the U.S. goods trade balance, Case-Shiller house prices, JOLTS job openings, and consumer confidence data.
Exclusive FX research from LMAX Group Market Strategist, Joel Kruger
Gold is in the bullish direction after correcting the supportHello Traders
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BITCOIN TO 100K!Bitcoin has surged back to $70,000, approaching its all-time high of $73,600, with a strong possibility of breaking through soon. This follows the breakout from a long-term sideways trend that began in March 2024, forming a well-defined bullish continuation flag. The price is expected to extend to $105,000, representing a 61.8% Fibonacci extension of the range between $39,147 and the current all-time high of $52,579.