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Reversal

AMAZON - 3 year old trendline broken?! See it on the chartHello, traders, investors and community! Today i am taking a sharp look on the retail-giant AMAZON and what we can expect in the next weeks and months! So lets start, looking on the weekly chart of AMAZON you can see this long trendline which begun january 2015 and ended october 2018 with a sharp decline in price, you can see it on my chart. It is marked with the two blue trendlines , one is straight and the other one is striped. So what does AMAZON do now?! We have a huge resistance above us at the 2000 - 2050 level which you can see in striped red trendline in the chart. This is a critical zone for AMAZON because when we get rejected there, the possibility for an double top gets nearer. You can also see this huge red selling volume at the break-out of that important trend-line signaling a shift in price action and heavy selling volume . If the highly possible scenario that we get rejected a second time at the 2000 - 2050 level kicks in a double top will form with targets at 830 - 840, you can see it on the chart with price projection. Also the RSI sets some bearish tone for the overall outcome, you can see in my chart that it touched the overbought area several times the last years without coming back. Now RSI struggles to make new highs in the overbought are and is consolidating in the middle range, a possible scenario is here when we see new decline in the price that RSI also falls back out of the channel which you see in the chart. The overall tone is bearish despite that AMAZON makes some bull-moves the last time. Normally you see this on a top before other declines happen. The fact that this major trendline which held for 3.75 years is broken makes the big picture for AMAZON look ugly. But, however, as traders we can also make money with falling prices. But this andvantage should not be taken for granted, it should be done smart and with the right look for market conditions! I hope you enjoyed this analysis on AMAZON! See you. Information provided is only educational and should not be used to take action in the markets. Thank you.
NASDAQ:AMZNShort
by VincePrince
6
BTC - Bulls Are In Control - Short-Term ❗️Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. on H4: Left Chart As per my last video analysis, BTC broke above the 26,200 previous major high so the bulls took over short-term. Now we are expecting a continuation till the 27,400 supply zone marked in red. on H1: Right Chart The bulls will remain in control, unless the last minor low at 25,815 is broken downward again. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
27
EURUSD - Potential Reversal ⁉️Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. on DAILY: Left Chart EURUSD has been overall bullish trading inside the flat rising channel in brown, and it is currently approaching the lower bound / trendline and support zone. Hence, we will be looking for trend-following buy setups on lower timeframes. on H1: Right Chart EURUSD formed a valid channel in red but it is not ready to go yet. For the bulls to take over, we need a momentum candle close above the last high marked in gray. In this case, we will expect a shift in momentum from bearish to bullish. Meanwhile, until the buy is activated, EURUSD would be overall bearish and can still trade lower inside the support. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
7
XRP - Follow The Trend 🏹Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. on Weekly: Left Chart XRP has been overall bullish from a long-term perspective trading inside the rising wedge pattern and it is currently sitting around the lower bound / blue trendline. Moreover, the zone 0.5 is a strong support and round number. 🏹 Hence, XRP is sitting around a strong area to look for buy setups as it is the intersection of the green support and lower blue trendline. Thus, we will be looking for buy setups on lower timeframes as long as the 0.46 support holds. on H4: Right Chart XRP has been stuck inside a range. For the bulls to take over short-term, we need a momentum candle close above the last minor high in red. And then, for the bulls to remain in control from a medium-term perspective, we need a break above the last major high in blue around 0.56. Meanwhile, until the bulls take over, XRP would be bearish and can still dive inside the 0.46 - 0.50 support zone. 📚 Always remember to follow your trading plan regarding entry, risk management, and trade management. Good luck! And always remember: All strategies are good if managed properly! ~Rich
by TheSignalyst
19
GBPCAD - Trend-Following Setup ↗️Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. GBPCAD has been overall bullish trading inside the flat rising channel in orange and it is currently approaching the lower bound / orange trendline. Moreover, the zone 1.68 is a strong support. 🏹 So the highlighted orange circle is a strong area to look for trend-following buy setups as it is the intersection of the green support and lower orange trendline acting as a non-horizontal support. As per my trading style: As GBPCAD approaches the lower orange 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
by TheSignalyst
2
BTC - Inside The Range Again ⏱Greetings, TradingView Family! This is Richard, also known as theSignalyst. After being rejected at the 28,000 supply zone and breaking below the recent low highlighted in blue mentioned last week, BTC is currently trading near the lower boundary of the range. 📈 For the bulls to take over, it's crucial for BTC to surpass the 26,200 level. If this occurs, we can expect further upward momentum toward 27,400 red supply zone. 📉 Meanwhile, BTC would be bearish and can still test the previous major low in orange at 25,300 or even breaks it downward. Now, which scenario seems more likely to unfold next, and why? 📚 Always remember to follow your trading plan when it comes to entry, risk management, and trade management. Good luck! Remember, all strategies are good if managed properly! ~Rich
by TheSignalyst
28
EURAUD - Looking For Buy Setups Already ↗️Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. As per my last analysis (attached on the chart), we were looking for sell setups around the upper bound of the orange channel. EURAUD rejected our resistance, traded lower, and now approaching the lower bound of the channel. Moreover, the zone 1.655 is a strong support. 🏹 So the highlighted orange circle is a strong area to look for trend-following buy setups as it is the intersection of the green support and lower orange trendline acting as a non-horizontal support. As per my trading style: As EURAUD approaches the lower orange 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
Long
by TheSignalyst
6
SPWH has been on a YTD downtrend SHORTSPWH, a sports and recreational retailer had a bad week or two as seen on the 60-minute chart. Reversion to the mean and the rubber-band perspective says that what goes down must go up. SPWH has fallen into deep undervalued territory. It has been down trending for most of this year. At the moment it might be correcting into a short trade or put option entry. SPWH trend down might get synergy from the S & P helping entrench the trend down. I will zoom into the 5-30 minute time frames and short SPWH from a pivot high. I may take a large number of shares and then hedge the position with a couple of call options above the current money with an expiration of 4-6 week for purposes of risk management and insurance against a reversal in the price action.
NASDAQ:SPWHShort
by AwesomeAvani
HE- Hawaii Power responsible for the fires LONGAs seen on the 2H chart HE has been trending down since July 28th and the recent earnings miss and devastating fires caused by faults in its electric distribution system. There will be lawsuits which will drag on for years. No matter this is a regulatory protected monopoly. It will be rescued by the consumers through the regulators. Price is reversing to the upside. Price is now at or above the POC line of the volume profile I will take a large long trade. If you want my ideas as to a stop loss and targets or the selected call option, please leave a comment. As an aside profits in this trade will be donated to the survivors and victims of this unnatural disaster.
NYSE:HELong
by AwesomeAvani
6
Tesla -> Wait For The 3rd Timeframe!Hello Traders and Investors , my name is Philip and today I will provide a free and educational multi-timeframe technical analysis of Tesla 💪 After Tesla stock broke out of the parallel channel all the way back in 2019 there was a super solid rally of more than 1500% towards the upside on this stock. You can also see that Tesla just retested and started to reject previous weekly structure and in confluence with bullish moving averages we could see more continuation towards the upside. Finally I am waiting for a daily shift back to a bullish market which will happen if Tesla breaks the current daily resistance level and then all 3 timeframes are pointing towards a move higher. Keep in mind: Don't get caught up in short term moves and always look at the long term picture; building wealth is a marathon and not a quick sprint📈 Thank you for watching and I will see you tomorrow! My previous analysis of this asset:
NASDAQ:TSLALong
by basictradingtv
37
AUDJPY - Trend-Following Setup ↘️ AGAINHello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. As per my last AUDJPY analysis, attached on the chart, we were looking for trend-following sell setups around the upper red trendline. Now AUDJPY is retesting that upper trendline again, so we will be looking for new sell setups. As per my trading style: As AUDJPY approaches the red circle zone, I will be looking for bearish reversal setups (like a double top 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
by TheSignalyst
7