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Pullback

Short Term - Navigating Potential Correction and Managing RiskOver the weekend, I've been analyzing Bitcoin's performance, seeking to determine its next market move. Similar to my view on the S&P 500, I believe that Bitcoin is due for a correction in the near future. It's possible that we could see a spike to $30,600 or even slightly above before experiencing a larger rejection. This level represents an equality target based on my wave analysis. While it would be an extended move, I'd assign it a 40% probability of reaching that high. If Bitcoin does approach $30,000, be prepared for a swift spike, as numerous stop losses could be triggered at that level. Following a rejection, we can expect Bitcoin to revisit the 200-week moving average, currently around $25,000. It's not unusual for price action to oscillate around this crucial indicator. A drop from even our current levels to $25,000 represents a $2,500 move or roughly a 10% decline. While entering high-leverage short positions on Bitcoin futures or perpetual swaps might be tempting, it's essential to manage risk wisely. I personally liquidated (note: sold to cash) a portion of my BTC holdings at $28,000 last week and plan to wait for a significant pullback before re-entering the market with those funds. As for the much-anticipated altcoin season, exercise caution and consider reducing risk in this area as well. It might be prudent to take some profits now and look for re-entry opportunities when Bitcoin eventually corrects. Remember, market conditions can change rapidly, and it's essential to have a well-thought-out strategy in place. The current Bitcoin market outlook suggests a potential correction in the near future. As always, it's crucial to manage risk and avoid overexposure in high-leverage positions. Keep a close eye on market movements and technical indicators, and make informed decisions based on your own research and analysis. Please note that this analysis is for educational purposes only and should not be construed as financial advice. Always conduct your own research and consult with a professional financial advisor before making any investment decisions.
BNC:BLX
by bitdoctor
EUR/USD currency pair may be due for a pullbackThe data pertains to the EUR/USD currency pair, which represents the exchange rate between the Euro and the US Dollar. The current price of the pair is 1.08445, with a change of 0.00505 or 0.47% since the last recorded value. The price range for the past month has been between 1.05163 and 1.08588. The Moving Average Convergence Divergence (MACD) line has crossed above its signal line, indicating a potential bullish trend. The financial data also provides other important metrics such as the average true range, the volume-weighted average price, and various pivot points, which can help traders identify potential support and resistance levels. In terms of SEO considerations, it is important to include relevant keywords such as "EUR/USD" and "currency pair" in the analysis to improve search engine ranking. It is also important to use simplified language to make the content more accessible to a wider audience and improve user engagement. Overall, the data suggests that the EUR/USD currency pair may be due for a pullback after reaching overbought territory, but the MACD line crossing above its signal line suggests a potential bullish trend. Traders should keep an eye on key technical levels such as support and resistance levels to make informed trading decisions.
by BorsaMerkezi
NZDCAD, Pullback to an area of value, look for sell entries Price action has pulled back an area of which we saw a strong impulse breaking downward from a strong structure level. Price has now retraced back to this area which we could see a nice sell opportunity. Wait for bearish price action and find an entry thst meets your trading plan. Thanks Trade Safe **If you found this idea helpful in any way, hit the LIKE button and FOLLOW me for more analysis and educational ideas** Share your view by leaving a comment below. I appreciate all the feedback.
Short
by ktlfx
EURNZDEURNZD has been examined in different dimensions: 1- Strong supply and demand levels that I identify with my own indicator and system. 2- The structure of recently formed waves 3- Current market momentum 4- The structure of classical and price patterns In this idea, I identified the direction of the market in different ways and in the second step, I analyzed the potential of continuation or reversal. Usually, paying attention to the trend and strength of the trend can greatly increase the accuracy of the analysis. In general, I tried to describe the continuation of the movement in the simplest possible way in the diagram. ⚠️ Disclaimer: This is a personal opinion and you are responsible for any trading decisions.
Short
by HamidRamezani1992
NAS100$NAS100USD NFP had the markets in shambles and unclear of direction today 3/10/23. Now that the dust has settle i'm looking for a push to the upside in the coming week. Everyone have a safe and enjoyable weekend. Disclaimer: This is not trade advice. Trading foreign currencies, stocks, indices, etc can be a challenging and potentially profitable opportunity for investors. However, before deciding to participate in the financial markets, you should carefully consider your investment objectives, level of experience, and risk appetite. Most importantly, do not invest money you cannot afford to lose!!! Good luck and Happy trading!
OANDA:NAS100USDLong
by DTradesFX2
US30$US30 NFP had the markets in shambles and unclear of direction today 3/10/23. Now that the dust has settle i'm looking for a push to the upside in the coming week. Everyone have a safe and enjoyable weekend. Disclaimer: This is not trade advice. Trading foreign currencies, stocks, indices, etc can be a challenging and potentially profitable opportunity for investors. However, before deciding to participate in the financial markets, you should carefully consider your investment objectives, level of experience, and risk appetite. Most importantly, do not invest money you cannot afford to lose!!! Good luck and Happy trading!
CAPITALCOM:US30Long
by DTradesFX2
1
Anticipating CAD/JPY's Bearish Breakout: Technical AnalysisHey, fellow traders! I'm keeping a close eye on CAD/JPY as it looks bearish and could potentially head south. In my technical analysis, I've spotted a trendline and RSI divergence that could indicate slowing momentum, along with a sweet continuation pattern in the price action. If we break the key "support/resistance area," the pair could drop as low as 97.5. That's why I'm planning to wait for a pullback before taking any action in the market. But for those of you who are considering shorting CAD/JPY, keep an eye out for these signals as they could indicate a prime opportunity to make some profits. Overall, it's essential to stay vigilant and monitor the trends and indicators to make informed trading decisions. I hope this analysis helps you in your trading journey. Happy trading!
Short
by natron