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Reversal

Double Top w/ Caution!! - EJHere I have EUR/JPY on the 1 Hr Chart! The HOT news on French PMI Thursday Morning followed by the Not-So Hot German and Manufacturing/Services PMI readings began the formations of a strong reversal pattern called a Double Top! The mixed PMI results for USD seemed to ease Euros' decent BUT With 2.8% CPI and talks from the ECB of "possible Rate Cuts in March", this could make Euro start to look less favorable in the bucket of currencies! Given that CONFIRMATION of Pattern is @ 162.649, I like to keep in mind the flipside of the coin and there are decent levels of Support in the ( 162.45 - 162.33 ) and ( 162.03 - 161.9 ) ranges! *These could serve as opportune Fake-Out areas to turn this pattern into a Ranged pattern called a BULL FLAG! -CONFIRMATION of PATTERN @ 162.649 -INVALIDATION of PATTERN @ 163.208
Short
by Novi_Fibonacci
Potential Market Reversal by May 2024Overview I can't shake the feeling that a large market correction is around the corner and at the same time the market contradicts my sentiments by appearing stronger every day. So I decided to investigate the 1 Year Treasury Note ( TVC:US01Y ) which is directly affected by Fed Rates to see how the market correlated to those changes in the past. What I found leads me to believe that a steep -- but temporary -- correction is approaching between late March and early May 2024. Historical Data (Feb 2016-Feb 2024) While it may not always feel like it, the stock market appears to have an overall bullish affinity even during economic struggle such as can be seen during the pandemic of 2020. After an average of three FOMC (Federal Open Market Committee) meetings, a sharp correction took place within the FOMC meeting range or shortly following the third meeting. This is the case for all but the fourth window which actually manifested a reversal to what has become the rally we are experiencing today. The chart above compares the TVC:US01Y (Top) to the SP:SPX (Bottom Left) and TVC:DJI (Bottom Right). I interpreted this data as potentially two truths: 1) Institutional investors retreat during transitional periods then resurface when the outlook is more clear, typically reigniting the previous trend despite an overall trend change within Fed rates. 2) Fed rate changes are a precursor for market reversals. While not the only factor, they appear to hold a significant weight that if supported could lead to a reverse in market trajectory as can be seen after the third and fourth window of FOMC meetings. **I only accounted for FOMC meetings where the 1 Year Treasury Note experienced significant trend changes** Market Projections I do not believe an apocalyptic correction is coming, but I do believe there will be a significant dip across the board following one of the next two consecutive FOMC meetings. The current dates for those meetings are March 19-20 and April 30 - May 1, 2024. It is my opinion that the 50%-61.8% Fibonacci Retracement levels serve as a good opportunity to enter a position should a correction occur. However, technical indicators should be closely watched for signs of a recovery before entering any positions.
DJ:DJIShort
by Shepherd_Investor
4
CHEF a consumer discretionary stock to relish LONGCHEF on a 4H chart has been trending up since earnings in November. The report last week was improved over November's. I got this one January and uploaded an idea then. CHEF has ran 25% since then. The bot alert is signaling SELL. RSI is at 64 and not yet overbought on a period of 14. The mass index is signaling a reversal down at it went over the threshold and then triggered. I see CHEF ans a good stock that did 25% on the shares and 150% on the options since my buy. I will sell the full position here. I will wait for a period of consolidation and Bollinger Band tightening and a flat Supertrend line to make a sizeable new entry.
NASDAQ:CHEF
by AwesomeAvani
WKHS is setting up for a short ( again) OR could it reverse ?WKHS is a mong the weakest of the EV stocks. On the 15 minute chart it has been trending down in a descending channel. There has been substantial volume on the bearish only volume profile albeit at higher prices. A small spike of selling volume while price is near to the upper ( resistance) trend line of the channel tells me that WKHS may move lower. Most of the time, it is difficult to short a penny stock below $1.00 depending on the broker. The selling volume tells me there are short trades underway. My idea however is to look for a reversal so long and watch for a short squeeze to add into the rising price with more position. Probably will not happen but it goes onto the watch list.
NASDAQ:WKHS
by AwesomeAvani
2
BINANCE:HBARUSDT - Double bottom is giving double profits. --------------------------------------------------------------- Description --------------------------------------------------------------- + The double bottom pattern stands out as one of the most reliable indicators of a potential reversal in market sentiment. Its appearance often heralds a shift from a downtrend to an uptrend, making it a favored pattern among traders seeking opportunities for profitable reversals. + A meticulous analysis reveals a distinct and well-defined double bottom pattern, characterised by two consecutive troughs followed by a significant rebound. This pattern's adherence to the classic double bottom structure further enhances its reliability as a signal for a bullish reversal. Traders recognising the significance of this pattern would undoubtedly find this observation noteworthy, as it strengthens the case for an imminent uptrend. + With the double bottom pattern confirming its efficacy through a robust bounce-back, attention naturally turns towards identifying potential price targets. The next target for this trade is projected to be 0.1014, representing a significant milestone in the anticipated uptrend. Market participants tracking this trade closely would view this target as a key level to monitor, as its attainment could signal further bullish momentum in the asset's price trajectory. --------------------------------------------------------------- VectorAlgo Trade Details ------------------------------ Entry Price: 0.0781 Stop Loss: 0.0671 ------------------------------ Targets 1: 0.0817 Targets 2: 0.0854 Targets 3: 0.0927 Targets 4: 0.1014 ------------------------------ Timeframe: 1D Capital: 1-2% of trading capital Leverage: 5-10x --------------------------------------------------------------- Enhance, Trade, Grow --------------------------------------------------------------- Agree or Disagree with the ideas ? lets discuss in the comments. Like and follow us for more ideas. Regards VectorAlgo
Long
by VectorAlgo
BAT is flying towards +270% Profit 🫰--------------------------------------------------------------- Description --------------------------------------------------------------- + BAT is retracing back to its support zone + This is critical zone for consolidation and resume its bullish trend + Overall BAT is looking bullish --------------------------------------------------------------- VectorAlgo Trade Details ------------------------------ Entry Price : 0.2329 Stop Loss : 0.2117 ------------------------------ Targets 1: 0.2426 Targets 2: 0.2493 Targets 3: 0.2645 Targets 4: 0.2742 Targets 5: 0.2972 ------------------------------ Timeframe: 4H Capital: 1-2% of trading capital Leverage: 5-10x --------------------------------------------------------------- Enhance, Trade, Grow --------------------------------------------------------------- Agree or Disagree with the ideas ? lets discuss in the comments. Like and follow us for more ideas. Regards VectorAlgo
Long
by VectorAlgo
2
SPY falls into mean VWAP support for LONGSPY on the 1H chart was riding the cynamic resistance of the second upper VWAP line in mid July but then pivoted down out of a head and shoulders at the bottom of the month and is now bounding up and down retesting the support of the mean VWAP line. The ADX indicator shows the flat line directional index. The ZL MACD is upgoing after a cross of the lines at the lows. Price is impending another VWAP crossover on the retest. I see this as an excellent base from which to take call options long targeting $453 for both 8/18 and 9/1. Please leave a comment, will SPY turn it around here or seek the downside?
AMEX:SPYLong
by AwesomeAvani
1
TSLA - Where and why we can enter a confident long-term positionAside from Elon taking a stronger control position of the operations of the company (upping his equity stake from 10% to 20%), I also like the technicals of this chart for a near-term entry. We just bounced off of our handy dandy blue tapered HTF selling channel and are looking for some of our buying algorithms to take hold. We are also forming a nice inverse head and shoulders to further indicate this reversal. As always, I will keep you posted with analysis as price continues to move Happy Trading :)
NASDAQ:TSLALong
by ReigningTrades
Natural Gas: Historic Triple Decade Support LevelHistoric Price Opportunity: NYMEX:NG1! (Natural Gas) is at a crucial level, with prices hovering at a point not consistently broken since a monthly close in July 1995. The weekly chart reinforces this, showing rare closures below this threshold over the last 30 years. Technical Indicators: RSI Bullish Divergence: The weekly RSI divergence suggests underlying strength. Historical Resilience: This price area has been a formidable support zone. Sub-$2 Entry: Historically, entries below $2 have been lucrative over decades. Fundamentals at a Glance: Electricity's Backbone: In the US, natural gas fuels 40% of electric power, significant against the backdrop of consistent year-over-year growth in electricity consumption since 1950, barring 11 years. Green Energy Transition: Natural gas stands to gain from the global shift towards cleaner energy sources. Soaring Exports: Global year-on-year rise in Liquefied Natural Gas (LNG) exports meets increasing international energy needs. Counter-Trend Investing Perspective: Every investor has heard at one time that the best time to invest is when something isn’t so hot and trendy. Well, the weather has been hot and because of that nobody thinks natural gas is trendy. Trade Strategy Snapshot: Entry: At any level in the $ 1.50s or a firm weekly close above the support zone above $1.60, displaying support confidence. Target: Volume profile's highest point of control level of approximately $2.70. Stop: A stop loss at physiological $1.50 or the $1.44 final low before levels not seen since the 1990s. HODL: A long term holding strategy of greater than a year has historically been successful, where looking for exits along the way has been ideal. As natural gas is a useful commodity this is appealing. Trading involves risks and not certainties; let's navigate the probabilities. Comment with your insights so we can uncover symmetries and diversities of ideas.
NYMEX:NG1!Long
by TanHef
4
DXY - Over-Bought Zone ❗️Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈 DXY has been overall bullish , trading within the rising wedge pattern in red. At present, DXY is approaching the upper red trendline acting as a non-horizontal resistance. Moreover, it is retesting a strong resistance zone marked in green. 🏹 Thus, the highlighted red circle is a strong area to look for sell setups as it is the intersection of the green resistance and upper red trendline. 📚 As per my trading style: As #DXY is around the red circle zone, I will be looking for bearish reversal setups (like a top bottom pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
TVC:DXY
by TheSignalyst
BOIL reverses from a quick downtrend LONGBOIL on may 9th went into hard resistance in the highest VWAP line area, the Hull moving averages did a death cross and it fell 12% into the support of the first upper standard deviation line where it double bottomed with a reversal. The ZL MACD shows lines and trends that are confirmatory. As a result, I have closed my short trade from my prior idea and revested the capital gained into a long position of stock and calls. If you are interested in knowing targets or stop losses, please leave a comment.
AMEX:BOIL
by AwesomeAvani
1
NIO - Will Rise From Ashes 🦅Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈 NIO has been overall bearish, trading within the falling wedge pattern in red. Currently, NIO is hovering around the lower bound of the wedge acting as a non-horizontal support. Moreover, it is retesting a strong support zone at 5.0 marked in green. 🏹 Thus, the highlighted red circle is a strong area to look for buy setups as it is the intersection of the green support and lower red trendline. 📚 As per my trading style: As #NIO is around the red circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
NYSE:NIO
by TheSignalyst
2
ROKU is pulled back for re-entryROKU has been downtrending in a retracement of the uptrend from late May to mid June. On the 2H chart, price has fallen from the top of the fair value zone the bottom of the fair value zone. The zone is the area between the VWAP bands of the anchored VWAP. Institutional buyers prefer to buy in either the under valued zone or the lower portions of the fair value zone and then in turn sell high in that zone or above it in the over valued zone. The RSI indicator shows RSI to have descended into the oversold zone where RSI is about 20. On the volume profile price has descended into the high volume area where increased trading volume will support price and likely push a reversal.
NASDAQ:ROKU
by AwesomeAvani
1
PLCE crash and flush on pre-emptive warning from executives LONGPLCE as shown on the 30 minute time frame had a "waterfall" event when a bad news catalyst hit the wires. Executives announced earnings issues one month out from the report due about March 14th. Maybe is real and may not. The are no filings available to show any insider sell- off unlike what is going on at General Dynamics at its all-time high. Could those executives push traders to bail on the stock, force it to crater and then buy even more at the bottom or have friends and family help them if they are well informed ? Who knows ? Does the CEO of TSLA have a plan to help share prices drop so when his new compensation plan is set up he gets even more shares and price rises to make his unrealized losses magically disappear. Is there manipulation in the market ? Is this a case of it ? Anyway enough said. PLCE is in early reversal and recovery. It has crossed the moving averages on the chart and there is a massive volume of buyers scooping from the bottom in the closing Friday afternoon. I was one of them. My shares and options are few. ( compared with the CEO/COO/CFO guys at Children's Place.- they typically buy 100,000 shares at a pop - after all they have the confidence of already knowing what is going on inside) I typically want to see 2-3X relative volume to put on a big position. This is 4X. Seems the risk is low compared with a 60% upside back to price levels before the news. Price has already recovered partially. My stock trade is 5% above break even after less than a day and now has a 3% trail stop so I don't need to pay attention to it. The call options targeting $19 for March 16th are up 16% in the first day. I will sell to close a day or two before earnings to hedge my suppositions. If earnings are as bad as these executives say. The call options will plummet. My alternative is to keep the call options running but hedge them with a single put option below ITM for a strike OTM expiring the same day setting up a strangle to take much of the risk way. In that case, the call options would still fall with a bad earnings miss but the put option will provide insurance buffering the loss. It remains to be seen how this plays out and I will check for SEC filings at intervals. For now, I will chase the relative volume because it is higher than the typical for similar scenarios. Best of luck to any traders who take this trade.
NASDAQ:PLCELong
by AwesomeAvani
1
EOSUSD - Target reached and profit taken! What comes next?!_______________________________________________________________________________________________________________________________________ Hello traders investors and community. This is an update analysis on my recent SHORT analysis about EOSUSD. The pattern we see here looks pretty similar to the one i detected with LTCUSD, when you didnt seen it yet you can look on my profile. _______________________________________________________________________________________________________________________________________ EOSUSD reached my target which you can see in the chart marked with the red dashed trendline, this was my minimum target for the SHORT trade! Everybody who traded this should be happy now, i already took profit! _______________________________________________________________________________________________________________________________________ Now the market sentiment has changed! We are facing a possible reversal to the upside with EOSUSD here, as you can see it is trading between the 3.5 and 4.26 range. The recent support at 4.26 is now resistance. _______________________________________________________________________________________________________________________________________ Now i am looking on two possible scenarios, the first scenario is an correction to the 3.7 range as marked in my chart, the second scenario would be a break-out to the upside above the 4.26 range, this would be the point where many traders would set there LONG positions and stop out SHORTS. When we break to the upside without correction in the actual range EOSUSD will confirm the 4.26 (red dashed trendline) after the break-out. _______________________________________________________________________________________________________________________________________ The RSI shows a oversold condition which you can see with the green rectangle in my chart, also we see a possible EMA crossover happening the next time! These are two indicators which confirming an reversal at the moment. _______________________________________________________________________________________________________________________________________ All signs seen in my chart and analysis seem positive for an reversal to the upside, but we have to wait on confirmation and dont rush emotionally in a trade! Either confirmation will happen with a correction in the range or a break-out to the upside, these scenarios will be good opportunitys to trade EOSUSD on the LONG side. Possible targets after a confirmation would be the blue trend-line. Otherwise when we can not hold the range between 3.5 and 4.26 there is a high probabilty that it will fall more. _______________________________________________________________________________________________________________________________________ Okay i hope you enjoyed this analysis! All information is only for educational purpose and should not be used to take action in the markets! May all happiness and luck come to you folks! See you soon! _______________________________________________________________________________________________________________________________________
KRAKEN:EOSUSDLong
by VincePrince
12
AMC can price rise from the all-time low ? LONGOn this 15 minute chart I see support for upside on AMC now at its all time lows. My target is recent tweezer tops at 4.27 with a stop loss set at 3.93. Any price rise at all will likely start short seller's buying to cover and close to be added to new long buyers supporting a move higher. The dual TF RSI indicator shows a bottom at the all time low and bullish divergence compared with the price action which is sideways for the moment. The Mass Index indicator with a rise then fall over the threshold and trigger levels has signaled a reversal. I will take a long trade of both long shares and a call option. An alternative to hedge is long shares and put options at a ratio of 100:1 with the puts as cheap " insurance". If a short squeeze ( ? moonshot) ensues, the put option will stop out or get crushed to a complete loss of no consequence in the greater overall trade. DISCLAIMER Any long trade from an all-time bottom is extremely risky- only trade cash that you can afford to burn and not feel bad about it.
NYSE:AMCLong
by AwesomeAvani
1
NASDAQ BANK INDEX ready to reverse ? LONGBANK is tracking bank stocks within the NASDAQ. I cannot find if it is market cap weighted or instead an unweighted composite I wanted to check this out to see if the banking sector might reverse and perhaps have some trade candidates based on relative strength or even rising trading volumes. On the 15 chart, BANK's price is in a descending channel or wedge. It is too early to tell if it is breaking out although it is sandwiched between the SMA10 and SMA20 as so in limbo at least of this time frame. The MACD indicator shows downgoing lines that had crossed one another above the histogram. This appears to be a bearish divergence. The mass index shows no signs of a rise into the threshold and trigger zone as it did on January 31st. Overall, I conclude that the price is still in the channel and not yet an early breakout. I will recheck this at intervals. Once a breakout is confirmed and even retested, I will find some relatively strong bank stocks from which to pick a long trade at a low pivot for a safe high return from the upside shown.
NASDAQ:BANKLong
by AwesomeAvani
1
HUT - a crypto-mining stock setting up for a long tradeHUT is a volatile small cap in the crypto sector. It has earnings in five weeks and so has plenty of time for a run to the report. On the daily chart, it finds itself in a descending falling more or less parallel channel and testing the lower support trendline of that channel. The last trend down took about six weeks. A Fibonacci 50% retracement would take price to 12 while the top of the channel resistance which is falling would be in the zone of 14. Accordingly, a long trade could be potentially in the range of 55-100% or so over two months or less. The stop loss set below support at 5.3 would provide for a good reward-to-risk ratio. For those who follow fundamentals and catalysts, HUT has a new CEO who is a turnaround specialist. Plan- I will watch to see the short time frame RSI in green cross over the 50 level. I will then zoom into a 60-120 minute time frame and look for an entry point with narrow-range candles also going red to green and then take a long trade with those two targets. There are no options for this stock as far as I can tell.
NASDAQ:HUTLong
by AwesomeAvani
Mastering Trading with Support and Resistance LevelsTrading with support and resistance levels is a fundamental strategy that offers insights into market psychology and potential trade entry and exit points. This guide will explore how to effectively trade using these levels, highlighting the importance of confirmation, rejection patterns, candlestick patterns, and confluence with other indicators. Understanding Support and Resistance - Support : A price level where a downtrend may pause due to a concentration of demand. - Resistance : A price level where an uptrend can pause or reverse because of a concentration of selling interest. The Significance of Confirmation Confirmation is crucial when trading with support and resistance, as it ensures that the price respects these levels before making a trade. Waiting for confirmation reduces the risk of false signals. Candlestick Patterns: The Language of the Markets Understanding candlestick patterns is essential for interpreting market sentiment at support and resistance levels. Patterns like bullish engulfing or bearish engulfing suggest strong reversals. Finding Confluence with Other Indicators Confluence enhances the reliability of trading signals. Combining support and resistance analysis with other indicators like moving averages or the stochastic RSI can provide stronger entry or exit signals. Integrating Support and Resistance into Your Trading Identify key levels : Mark clear support and resistance levels on your chart. Wait for confirmation : Confirm the level is holding through candlestick patterns or price action before trading. Look for rejection patterns : Observe candlestick formations for reversal signals. Seek confluence : Use other indicators to validate your trading signals. Manage your risk : Always set a clear stop-loss order to manage potential losses. By employing these strategies, traders can enhance their market navigation skills, focusing on managing risk and seizing the right opportunities. With patience and practice, trading with support and resistance levels can be a vital part of a successful trading approach.
Education
by AlgoAlpha