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2024-07-03 - priceactiontds - daily update - sp500Good Evening and I hope you are well. overall market comment Indexes - SP500 and Nasdaq outdid themselves today again. You still can’t convince me this is another breakout above. SP500 is still marginally higher and it’s a trading range at the highs. Nasdaq broke above the bull wedge and channel and I absolutely expect it to fail over the next 1-5 days and trade down below 20000. Commodities - Gold had a huge bull break above previous support and above the upper triangle line. The pullback tested that line and market held above. If bulls confirm this tomorrow, we will see 2400 and probably higher again. Oil printed a lower high below 84 but bears would need strong selling from here on and a lower low below 82 to confirm it. Oil could trade more sideways before another breakout to either side. Bitcoin continued perfectly inside the bear trend and dropped below 60000 again. Bulls might try one more time to get above 62000 but if this one fails, decent chance we will test 50000 next. It’s a strong sell the rip market and you should not look to buy. sp500 e-mini futures comment: Strong follow through for the bulls since bears could not keep it below 5580. Made a new ath but still not above 5600. Bulls were strong enough that we can expect 5600 to print at least once. Can they get another push up? I have no idea. Still inside the margins of this trading range at the top but I won’t rule out that we can’t print 5650 or higher. Today’s data was really bad but market did not care. No reason why it should turn around tomorrow on low volume or on a Friday. I won’t get tired writing it. If you are bullish at this stage of this bull cycle, no one can help you. Not saying you should not get long on days like today but your long term longs should have a tight stops. Once the euphoria vanishes, it will go down fast when everyone will look for the exit. It’s as unsustainable as it gets. current market cycle: Max bullishness & peak bubble territory. Literally the peakiest of the peaks. Mother of all bubbles. Will end over the next weeks. —unchanged key levels: 5560 - 5600 bull case: Bulls want to keep the party going and if they can stay above the 1h 20ema, they could do another leg up. No deeper reasoning here. If big green bars appear again, buy. Invalidation is below 5560. bear case: No idea if bears step aside for another leg. Can see this turning here after more sideways movement. I would not expect big swings on a US holiday tomorrow. Invalidation is above 5610. short term: Neutral af again. At multiple resistances I won’t do anything. Will look for longs on strong buying near the 1h ema or the lower bull wedge line. If bears appear, need a break of both mentioned before shorting. medium-long term: Bearish. We will see 5000 over the next weeks again and 4600 over the next 12 months. Will update this time and price wise over the weekend but I expect to at least see 5000 over the next months in 2024. —updated weeks to months. current swing trade: None trade of the day: Buy anything. 5m 20ema was your guide today. Could have literally bought any touch.
CME_MINI:MES1!
by priceactiontds
EUR/CAD: 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 EUR/CAD 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 the market found support at the 1.2953 level, bullish momentum entered and we managed to move up to the 1.4945 resistance level. After this sharp upward movement, the market entered a correction phase and corrected down to the 1.4141 level. Currently, the price is ranging between the 0.382 Fibonacci level and the 1.4945 resistance. I believe that until the price either breaks above 1.4945 or below 1.4141, the market will continue to range within this box. 🧩 There is also a minor ascending trend line that the price has reacted to multiple times, which could be a key determinant for future price movements. The price is currently trading above this trend line, indicating potential continued bullish momentum if it holds. 🧲 Regarding the 0.382 Fibonacci level at 1.4330, it has acted as a strong support in the past and could continue to do so. If the price breaks below this level, it might move down to the 0.5 Fibonacci level at 1.4141. 📈 For a long position on the weekly timeframe, it seems appropriate to wait for a break above the 1.4945 resistance area. The target for this move, based on the overall range, could be 1.5798. 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 1.4141 serves as a good trigger. If the price stabilizes below this level, it might move down to the area around 1.4327 and potentially lower if the bearish momentum is strong. 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 around 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 a break above 1.4763, which is the riskiest one with a target of 1.4945. The next trigger is a break above 1.4945 with a target of 1.5798. The final trigger is at 1.5798, with potential higher targets if the bullish momentum is strong. 📉 For short positions, the first trigger is a break below 1.4591, and the second trigger is the break of the support area at 1.4327. ♟ Now, let me explain how I personally trade with each trigger. For the long trigger at 1.4763, 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 1.4945 trigger, I open a position with normal risk and a regular stop loss size. For the 1.5798 trigger, I open a position with a larger stop loss because the trigger is at a significant resistance level 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, EUR/CAD is currently in a ranging phase between the 0.382 Fibonacci level and the 1.4945 resistance level. Depending on the break above 1.4945 or below 1.4141, 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
1
SIWNG IDEA - MOTHERSON SUMI The current market conditions suggest a favorable buying opportunity in MOTHERSON SUMI , presenting astute investors with the possibility of capitalizing on potential gains. Reasons are listed below : Following rigorous testing at the 98 levels, the resistance has shown signs of weakening, heightening the likelihood of an imminent breakthrough. Stock is in Uptrend i.e higher highs are being made. Price moved from 62 to 103 and then retraced till 0.382 Fibonacci level and is now breaking out. Price is above 50 and 200EMA i.e the trend is intact. Target - 123 // 134 StopLoss - Weekly close below 90
NSE:MOTHERSONLong
by Visionary_Growth_Insights
5
Solana Hits Big Resistance and Drops to SupportGood Morning Traders, It's important to review price action on Solana because it is our fourth largest altcoin (excluding stables) and does lead much of our altcoin market now in this position. The inverse head and shoulders pattern is playing out thus far. Solana touched my $122 support precisely before bouncing and rounding the bottom of our right shoulder. The 200 day SMA helped to hold price for support. Price then exceeded our .618 Fib fan level which intersected with a level I had drawn at $145. This now becomes support. Price had attempted to move higher but there is great resistance ahead on both our price chart and the RSI chart below. Both charts show big areas of confluence that are acting as major resistance. If the bulls can get above these, we are then safe to tackle that neckline. Once broken, we should have a price target of $235-245 before more rest. Don't forget, holiday weekends often give crypto a big boost. With the 4th of July being a big holiday here in the U.S., I would not be surprised to see price movement float up over the long weekend. Stew
COINBASE:SOLUSDLong
by stewdamus
Gold accumulates narrow margin waiting Nonfarm and new Data✨Fundamental analysis: Gold prices attracted some buyers after a pullback to 2319, starting a new week amid bets on a September interest rate cut by the Federal Reserve (Fed). Expectations were reaffirmed by data showing the U.S. manufacturing sector contracted for a third straight month in June and the prices factories pay for inputs fell to their lowest level in a decade. six months. This suggests that inflation is subsiding, which should allow the US central bank to begin lowering borrowing costs. China's economic troubles, persistent geopolitical tensions and political turmoil in the United States and Europe have provided some support for the safe-haven precious metal. The solid recovery in the US Dollar (USD) from multi-day lows has capped any further gains in Gold prices. Benchmark 10-year government bond yields rose to their highest level in a month, seen as a driving force for the USD. Traders are adding signals about the Fed's policy path before placing clear directional bets. Therefore, the focus remains on Fed Chairman Jerome Powell's speech later today and the FOMC meeting minutes on Wednesday. ✨Technical analysis Gold prices have so far been struggling to overcome the crucial resistance level of 2,340. The said barrier is currently anchored near the 2,338-2,340 zone and will act as an important pivotal point. A sustained strength above this level would pave the way for a move towards the next relevant hurdle at 2355-2368. On the downside, weakness below the $2,319-2,318 zone, or the overnight swing low, could find some support near the $2,300 mark ahead of the $2,285 horizontal zone. ✨Support: 2321-2310-2300-2289 ✨Resistance: 2333-2340-2355-2368 SELL GOLD 2340-2342 SL 2345 SELL GOLD 2355-2357 SL 2360 BUY GOLD 2310-2308 SL 2305 BUY GOLD 2300-2298 SL 2295
OANDA:XAUUSD
by TVS-Trader
2024-07-02 - priceactiontds - daily update - nasdaqGood Evening and I hope you are well. nasdaq e-mini futures comment: What a bull day… Just straight up buying all the way up. Market did not touch the 15m ema once since 30mins before us open. Happy for everyone who were long since below 19970 and held. Still a lower high but given the strength of today, some follow through is expected. current market cycle: Max bullishness & peak bubble territory. Literally the peakiest of the peaks. Mother of all bubbles. Will end over the next weeks. —unchanged key levels: 19700 - 20100 bull case: Bulls want a measured move up from the strong buying today, which could bring this to 20600. Sounds insane but that’s what the chart is showing. First target for the bulls is till to make this a higher high again and for that they need to trade above 20273. If they do that, I don’t think this will be stopped until a much higher ath. Invalidation is below 20100. bear case: Not having much for the bears here. They just vanished today since US open. They need to do everything they can to keep this a lower high below 20273 or bulls will make a new ath. IF bears can reverse this, 20000 is the magnet we are oscillating around. I don’t have much fantasy how this market could do another meltup to be honest but price is truth and the chart is screaming “*explicit* your puts” and wants higher. Invalidation is above 20273. short term: Max bullish above 20273 for new ath but inner bear in me hopes this reverses again. I don’t have any open positions on this. medium-long term: This climactic blow off top was the grand finale of this bull trend. Perfect break above multiple patterns which I expect is a bull trap and we will test the various support lines next before the new bear trend will unfold over the next 3-9 months. current swing trade: None trade of the day: just buy anywhere around the us open and hold. 15m ema was not touched once.
CME_MINI:MNQ1!Long
by priceactiontds
2024-07-02 - priceactiontds - daily update - daxGood Evening and I hope you are well. overall market comment Indexes - SP500 and Nasdaq had bull trends from the open and almost went up in one straight line on higher time frames. Both produced lower highs but given the strength of today, we can expect some follow through tomorrow. If bears somehow manage to reverse here and keep the lower highs, there is no reason why we can’t reverse to the lows of the week again. Market is all still inside their trading ranges and most breakout attempts fail. Commodities - Gold is again not worthy to be written about. Oil touched the bear trend line today on relentless buying but market gave back around 150 points afterwards. All of my bullish targets are met here and market could very well begin forming a top here before trading lower again. Bitcoin turned exactly where it had to and where my painting showed it would. There is a tiny bull trend line around 61500 and if that is broken, we will see 58000 or lower again. For the slight possibility that bulls turn this around again and stay inside the bull channel, they would have to break the bear trend line above 63000, which would then open up the road to 65000 again but I think this is very low probability. dax comment: 18300 is the most important price for dax for many days now. Today we sold off but market grinded higher to the 50% pb and that is around 18300. We have a decent bear channel which could hold and a third leg down would bring us to 18000 again. It’s still a trading range and a bigger third leg is lower probability. Markets usually have two legs inside ranges, so we could turn up from here to 18500 again. Neutral is the name of the game. current market cycle: trading range key levels: 18000 - 18600 bull case: Bulls need to break outside of the bear expanding triangle and their first target above is today’s open pricea t 18419. If they could do that, they will probably get to 18500 again. For now I think bulls are not good and they don’t have many arguments on their side. Invalidation is below 18180. bear case: Strong selling by the bears since EU open and market could not trade above the 1h ema the whole day. They want follow through tomorrow and keep the bear expanding triangle alive. Their targets below are 18100 which is where the bigger triangle bull trend line is. I don’t see them breaking it but if they do, obvious target below is 18000. Invalidation is above 18400. short term: Neutral between 18300 - 18370. Bearish below and bullish above (if bulls can break outside of the exp triangle). medium-long term: My long term outlook stays bearish and I expect at least a -20% correction in 2024. Medium term is 17100 while I think we can touch the big bull trend line starting 2022-10 around 16700 in 2024. —unchanged current swing trade: None trade of the day: Short since Globex or from the EU open. Low of last week was 18221 so a good place to look to take profits or exit shorts. Market turned at 18190.
EASYMARKETS:DAXEURShort
by priceactiontds
Bitcoin's Parabolic Potential & MANA's Key Levels Revealed📅 Let's dive into today's analysis. We are focusing on the crypto market, where we've seen an upward move, and Bitcoin is at a critical and exciting position. The coin I'll be analyzing today is MANA. 👑 Bitcoin Analysis 🔍 Bitcoin Technical Analysis In the 1-hour timeframe, Bitcoin has started to correct after reaching the 59323 support level and has now created a bullish structure in this timeframe, reaching the 63700 resistance level. A correction to 0.382 of this upward wave has been made, creating a box between 36700 and 62634. 🧲 Trend Line Analysis Additionally, there is a curved trend line supporting the price. Since this line is curved, it could trigger a parabolic movement in the market. Conversely, if this trend line breaks, we might witness another sharp drop in the market. 📊 Volume Analysis The market volume is ranging and is neither converging with buyers nor sellers. The direction will likely depend on which side increases its volume. 📈 Long Position Strategy Long Position: We can enter a long position with a break above 63700, targeting 64530 as the first target. A riskier trigger is at 63122. RSI stabilization above the 55.87 resistance can act as confirmation for these positions. 📉 Short Position Strategy Short Position: For a short position, first wait for a candle to stabilize below the curved trend line and activate the 62634 trigger. The second trigger is breaking the trend line at 62168. The RSI confirmation trigger is at 40.72. 🔍 MANA Analysis 🗂 Project Overview Decentraland is a crypto and metaverse project where everyone can buy land and introduce their projects to others. The native token of this platform is MANA, and all transactions on this platform are conducted using this token. 🧲 Trend Line Analysis In the 4-hour timeframe, this coin has started a downward trend from 0.4832 and dropped to the 0.3170 support level. After reaching this support, it corrected up to 0.236 and created a range box. This coin also has an upward curved trend line that could trigger a parabolic movement in the coin. 📈 Long Position Strategy Long Position: Stabilizing the candle above the 0.236 area could push the price upward, creating bullish momentum to move towards the 0.5 Fibonacci area, which coincides with 0.3896. For this position, buying volume must enter the market, and the RSI trigger is at 59.26. 📉 Short Position Strategy Short Position: For a short position, first wait for the curved trend line to break. For additional confirmation, we have two triggers: the first is at 0.3287, and the second is at 0.3170. If these levels break, we can expect the price to move down to 0.2792 based on Fibonacci Extension. Personally, I would open a position with a break below 0.3170 only if the selling volume increases and the RSI is below 50. Otherwise, I will wait for a break below 0.2792. 📝 Conclusion In conclusion, both Bitcoin and MANA are showing critical levels that could determine their next major moves. Bitcoin's parabolic potential hinges on its curved trend line support, while MANA's future depends on its range and trend line dynamics. Keep an eye on the volume and RSI confirmations for better entry points. 🧠💼 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
2024-07-01 - priceactiontds - daily update - daxGood Evening and I hope you are well. dax comment: Funny thing for me is the fact that ath to June high is about 200 points, June to July high now is about 200 and low of the week was 200 points below that. Markets eh. 4h chart tells it the best I think. Market touched the big bear trend line from ath and was rejected heavily. Bulls have going for them that the higher lows getting higher and the trend lines steeper. Means we are forming multiple triangles, which confirms the obvious trading range. Breakout this week. Buckle. Up. current market cycle: trading range key levels: 18400 - 18632 bull case: Bulls making higher lows but every high is sold big time. Only questions imo is, when will they give up? By not with every 1h bar it get’s more obvious that this bull trend is on it’s last legs and if you bought longer term above 18000, you are not happy with the bear trend line. Higher high above 18600 was unexpected somewhat but turned where it had to. Bulls need a strong daily close above 18600 to make bears nervous. I expect another try at 18600 tomorrow or Wednesday. Invalidation is below 18400. bear case: Bears trapped bulls buying above 18500 but the sell off afterwards was not deep enough to make a good bear case out of this. Bears need start making lower lows and closing the bull gap to 18400 with a bear bar closing on its low. Invalidation is above 18632 or a 1h close above the bear trend line. short term: Neutral but if bulls manage to get a 1h close above the bear trend line, it could go much higher much faster. medium-long term: My long term outlook stays bearish and I expect at least a -20% correction in 2024. Medium term is 17100 while I think we can touch the big bull trend line starting 2022-10 around 16700 in 2024. —unchanged current swing trade: None trade of the day: Buy low, sell high and scalp. Best trade was shorting against the bear trend line 18600.
EASYMARKETS:DAXEUR
by priceactiontds
2024-07-01 - priceactiontds - daily update - sp500Good Evening and I hope you are well. overall market comment Indexes - Quick one today because markets did the obvious thing and we learned nothing from this trading session. Commodities - Gold is not worthy to be written about today. Oil was bullish as expected to 83.40 and 84/84 were my targets for many weeks now. Bulls can do some more here but it should not go much above 84. Best bears can hope for here is sideways. Bitcoin broke strongly above the bear trend line but failed at the daily 20ema. Bears need to keep it below 64000 or we will see much higher prices again. Can short this once we trade back below 62400. sp500 e-mini futures comment: Market has the daily 50% pb almost exactly at Friday’s close. You do not need to analyse this deeper. Market is in balance and 5523ish is the fair/agreed price. Prominent tails above and below bars, tells you that it’s a trading range and you should buy low and sell high. current market cycle: Max bullishness & peak bubble territory. Literally the peakiest of the peaks. Mother of all bubbles. Will end over the next weeks. —unchanged Smaller tf = trading range key levels: 5500 - 5550 bull case: Market is in balance. Bulls need break above 5550. Invalidation is below 5500. bear case: Bears need break below 5500 and preferably a daily close below. Invalidation is above 5550. short term: Neutral af. medium-long term: Bearish. We will see 5000 over the next weeks again and 4600 over the next 12 months. Will update this time and price wise over the weekend but I expect to at least see 5000 over the next months in 2024. —updated weeks to months. current swing trade: None trade of the day: Buy low, sell high and scalp. Use small position size and wide stops to scale in. Best trades though were selling the expanding triangle bar 30-34 where market should clear resistance 5537 and that was also the us open price and we just sold off for 30 points. Next trade was the bar 41 entry bar after a very good signal bar 40. Buying near 5000 was almost a no brainer but since bar 37 was so big an climactic, I hesitated as well.
CME_MINI:MES1!
by priceactiontds
Gold Analysis in Forex Market📅 Let's get into today's analysis. I've decided to focus more on Forex analyses, and today we're analyzing gold with the main timeframe being daily. I'll be looking at the chart solely from a technical analysis perspective. 🔍 In the daily timeframe, as you can see, after breaking the 2075 resistance level, bullish momentum entered the market, and we managed to move up to the 2425 resistance level. After this sharp upward movement, the market entered a correction phase and corrected down to 2289. Currently, the price is ranging between the 0.236 Fibonacci level and the 2425 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 2425. If the candle closes below the 0.236 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 2425, 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 daily timeframe, it seems appropriate to wait for a break of the trend line and a confirmation above the 2425 area. The target for this move, based on Fibonacci extension, could be 2759. 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 2289 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 gold 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 0.236 Fibonacci level on the daily 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 2338, which is the riskiest one with a target of 2365. The next trigger is at 2365 with a target of 2439. The final trigger is at 2439. 📉 For short positions, there's a very risky position with a trigger at 2320, 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 2338, 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 2365 trigger, I open a position with normal risk and a regular stop loss size. For the 2439 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, gold is currently in a ranging phase between the 0.236 Fibonacci level and the 2425 resistance level. Depending on the break above 2425 or below 2289, 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 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.
OANDA:XAUUSD
by itsparham96
3
SWING IDEA - VARROC ENGINEERING Varroc Engineering presents a compelling case for a potential swing trade, backed by several key indicators. Reasons are listed below : After multiple tests, Varroc Engineering broke through the crucial 500 level and is now retesting it, indicating a potential shift in market sentiment. A doji candlestick formation on the weekly timeframe and a bullish marubozu candle on the daily timeframe suggest indecision followed by strong bullish momentum, respectively. Varroc Engineering demonstrates a clear uptrend, marked by a series of constant higher highs, indicating bullish momentum in the stock. Finding support at the 0.382 Fibonacci retracement level suggests a healthy correction within the broader uptrend, providing a favorable entry point for traders. The stock price is currently trading above both the 50 and 200 Exponential Moving Averages (EMA) on the weekly timeframe, reinforcing the bullish bias. Varroc Engineering has recently broken out of a consolidation phase lasting over four years, signaling a potential continuation of the uptrend. Target - 620 // 655 // 830 StopLoss - weekly close below 455 DISCLAIMER - Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services. @visionary.growth.insights
NSE:VARROCLong
by Visionary_Growth_Insights