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TSLA fifth wave and bullish FVG 4h timeframeI've been keeping a close watch on TSLA's recent movements, and there's something worth sharing. It seems we're in the midst of the fifth wave, if we follow Elliott Wave Theory. What's even more intriguing is that on the 4-hour chart, a bullish FVG (Fair Value Gap) could be in the works, indicationing the end of the bearish (fourth) wave. Adding to the excitement, the Relative Strength Index (RSI) is giving us some interesting signals. It's right on the edge of slipping into oversold territory, a potential sign of a turnaround. Plus, keep an eye out for the impending cross between the RSI and its RSI-based Moving Average (MA), as that could indicate a significant move coming up. This setup has definitely caught my attention, and I'm thinking there's a trading opportunity brewing. If taking the trade I would suggest a safe stoploss below the fourth wave or a more risky one below the next bullish liquidity void on the chart. I would target the end of the fifth wave as a TP area because after that I believe we will see the first correction wave of the ABC pattern. Of course, as traders, we know the drill – careful analysis and risk management are key before making any moves.
NASDAQ:TSLALong
by RuneDD
Seizing the Bullish Momentum with Fundamental Backing! 🚀📈Calling all traders! Get ready for a thrilling opportunity in USOIL (Crude Oil) as we present a compelling bullish setup that is further supported by fundamental analysis. This combination sets the stage for potentially lucrative gains! 💰💥 In the 15-minute timeframe, price retraced to the critical 0.618 Fibonacci retracement level, known for its significance in trend reversals. The bounce from this level indicates the formation of a new higher low, reinforcing the bullish case. But wait, there's more! The chart also reveals the formation of a head and shoulders pattern, which adds further conviction to the potential trade. This powerful reversal pattern enhances the probability of success. Moreover, our fundamental analysis complements the technical setup. Recent market news indicates favorable conditions for a bullish move in oil prices. Positive developments, such as a significant decrease in crude oil inventories and growing global demand, support the notion of an upward trajectory. Additionally, the RSI indicator is currently hovering above the 50 level, suggesting strong buyer interest and an inclination towards further upside momentum. This alignment of technical and fundamental factors strengthens our confidence in the trade. Furthermore, we've observed a crossover of moving averages, serving as a confirmation of the bullish sentiment. This convergence of indicators further bolsters the case for a buy entry at the current price of 69.00. To manage risk effectively, it's prudent to set a stop loss below the right shoulder of the head and shoulders pattern. From our entry point, we have several enticing take profit levels on the chart: 69.50, 70.20, and 71.20. 🎯 This setup not only offers a high-winning rate but also a favorable risk-to-reward ratio, backed by both technical and fundamental analysis. Don't miss out on this exciting opportunity to ride the bullish momentum in USOIL. Wishing you successful and profitable trades! 🚀🌟 Don't forget to press the like button if you think this insight was helpful 📊📈
TVC:USOILLong
by Thomas_Zito
2
What To Expect From Bitcoin Hands down, things look bleak for Bitcoin. But regardless of what, such bleakness is likely just a short-term glitch. Any break to the downside should be bought up quickly for a rather steep V-shaped recovery. The deeper it goes (as in the closer it gets to $20 000) the faster and more aggressive that recovery should be. Based on the current technicals there are a few highly likely outcomes from here on. Some of them we've discussed earlier here on TradingView, others are new. 1) Bitcoin takes a final leg down towards the mid $27 000's for an A wave zigzag. We originally deemed this to be completed amidst the recent $28 600 plunge. Yet, Elliott might have one more minor surprise in store before initiating the B-wave. This would all make good sense for two reasons. Firstly, "everyone" expects Bitcoin to drop significantly upon potentially breaking the $30 000 level as there are no real supports to speak of until $20k. And add to that the number of times Bitcoin has already tested the $30 000 support zone and a strong move is anticipated. In this sense, the "expected thing" would be the unexpected as the market rarely does what the majority expects of it. Such final A-wave zigzag to the $27 500 area (give or take) would nicely align with the primary 0,618 fib. Upon a steep recovery from this level Bitcoin would initiate its B-wave rally, which, to many, would be a "confirmation" that Bitcoin is now ready for higher highs. That in turn would be the prime area of danger as Bitcoin could then initiate an aggressive C-wave to kill off any last hope. 2) Bitcoin initiates its B-wave already. There are three things that speak loudly in favor of this outcome. Firstly, Bitcoin is flirting with the lower bullish RSI line and would, if closing within 1% from its 39,55 value, issue a strong buy signal. These signals come with a high reliability and low risk and are famous for generating profits in the thousands of percent. As it stands, any daily closing at around $31 500 should result in a buy signal. Secondly, upon such a buy signal it would likely trigger an initially steep upwards move - one that would also break above the long-stretching RSI resistance. This resistance has eight rejections already. And the more times any resistance line is tested, the more energy it saves up to be released upon a break thereof. A lower bullish red RSI closing in combination with a diagonal RSI resistance breakout should be enough to propel the price into the mid to late $40 000's in the upcoming few weeks. And thirdly, the lower bullish red line on the weekly stands at 41,65. This number is fixed and never changes. Based on the current reading at 42,02 it does qualify for a weekly buy. Do note, however, that this needs to be the weekly RSI closing - as in +/-1% from 41,65. We always base these on the closes. But here's an additional very important clue: When a lower bullish red RSI closing comes immediately from high levels - as it does on the weekly Bitcoin chart - any buy signal typically means a relief rally rather than an actual reversal. This would confirm a B-wave move to follow in a textbook fashion. The strong, long-term buy signals are in turn given when the RSI creeps up from lower levels (generally speaking 30 or below) and then makes a clear touch from slightly above. For more these strategies you are advised to watch the RSI trilogy on our YT channel. As a short summary: I doubt that Bitcoin will plunge down low from here. A final A-wave zigzag down to the $27 500 area would make perfect sense. If not, and if we get a lower bullish red closing on the daily (and ideally on the weekly too) and a break above the diagonal RSI resistance on the daily, then a steep B-wave should be initiated.
BITFINEX:BTCUSDLong
by LongLifeTrading
4