DAX-30 INDEX (Spot) - BULLISH REBOUNDENGLISH
- The market has been trading inside a bullish channel since end of May 2020, the long-term trend is then bullish.
- After having traded in the upper part of its bullish channel, the market registered a break-out of its mid-term bullish trendline (dotted), leading prices back to the lower band of the long-term bullish channel. Since then, prices have registered a solid rebound, confirmed by the RSI, over the 12,343.0pts/12,460.0pts zone as well as a bullish gap over 12,660.0pts with the 13,060.0pts resistance now in sight.
- This is seen as a bullish situation, on the short-term basis at least. Even if the RSI registered a long bearish divergence with the market since June, it only underlines the trend slowdown compared to the strong bullish accelerations spotted between end of March and June. The first target remains 13,060.0pts but the main one is located inside the 13,275.0pts / 13,495.0pts zone with 13,400.0pts as both strong technical and psychological level as long as 12,660.0pts says unbroken.
FRANÇAIS
- Le marché se traite à l'intèrieur d'un canal haussier depuis fin mai 2020, la tendance long terme est donc haussière.
- Après s'être traité dans la partie haute du canal haussier, le marché a ensuite enregistré une cassure de sa ligne de tendance de moyen terme (pointillé), conduisant les prix sur la borne basse de leur canal haussier de long terme. Depuis, les prix ont enregistré un solide rebond, confirmé par le RSI, au-dessus de la zone des 12,343.0pts/12,460.0pts ainsi qu'un gap haussier au-dessus de 12,660.0pts avec la résistance à 13,060.0pts désormais en vue.
- Cela est vu comme une situation haussière, du moins sur le court terme. Même si le RSI a enregistré une longue divergence baissière avec le marché depuis Juin, cela souligne simplement le fait que la tendance haussière de long terme ralentit comparée aux fortes accélérations haussière enregistrées entre mars et Juin. La première cible se trouve sous les 13,060.0pts mais l'objectif principal se trouve à l'intèrieur de la zone des 13,275.0pts/13,495.0pts avec 13,400pts comme niveaux technique et psychologique fort, tant que les 12,660.0pts reste infranchis.
Short-term
XRP Update End of SepI hope October is bearish for anything that isnt the $, I would really expect some surprises this month in terms of what markets can do.
If XRP can see $0.175 again before November I would be a happy chap, great buying opportunity at this price, this daily fib extension line up nicely with the support below.
Lets see what PA develops at the start of October 🤞
Livent Short IdeaShort opportunity from a resistance level around $8.60-8.70 with the first TP at $7.60 and next one around $7.20.
USOIL Long Trade SetupHello Traders
The last low can be the end of the correction. If so, we should have a complete reversal pattern. That's why I placed a pending order, and it was triggered. I could set my entry price above the last top, but my plan is to move my SL to BE when we get that level. In this way, I won't lose any money if it makes another correction for one last downward impulse.
Trade with care.
Bulent
EURGBP Long Trade SetupHello Traders
My forecast is one more upside for the completion of the B wave. That's why I've placed a pending order over the potential reversal impulse, and SL is under the correction. I'm planning to hedge my trade at the end of the upward impulse, but if I see a correction under the blue trendline, I'll hedge my trade since the last top can be the end of the green B.
Trade with care.
Bulent
EURCHF Short Trade SetupHello Traders
If the last top at the 0.618 retracement level is the end of the running flat, the current structure should be the start of the next downward impulse as well as a valid trade setup. Now, I'm waiting for a correction after the potential reversal impulse to take a short trade. My target is 1.06000
Trade with care.
Bulent
Descending Triangle (3x) in GoldGold has developed a multiple, nested descending triangles since the beginning of August. The first pattern between mid-August and mid-September had a positive breakout but then dead-ended in a second descending triangle pattern with the same start and extending through the end of last week. The resulting breakdown this week clearly shows that the two smaller descending triangles are fully contained within a larger descending triangle that has developed as a result of the breakdown this week. I would expect gold to bounce off of this support and then fail at the descending triangle resistance level over the next week and a half. Then it will fall to the support which will double as the 100-day DMA. After another bounce off support, I would expect a minor breakout to upside which fails and falls down to support in the 1800-1810 range.
GBPCHF Short Trade SetupHello Traders
It looks like 12345 structure is in the making in the C wave of the daily regular flat. If so, the last top should be the end of the 4th wave. That's why I'm waiting for a small correction to place a pending order. I'm planning to hedge my short trade around the 0.618 retracement level.
Trade with care.
Bulent
CADJPY Long Trade SetupHello Traders
It looks like we have a complete correction over the blue trendline. If so, the last bounce back should be the reversal impulse. Now, I'm waiting for a correction to take a long trade. Then I'll hedge my trade between the white line and red trendline.
Trade with care.
Bulent
Agilent Technologies Pullback to 93This is a very bullish pair but pullbacks are always do at some point. This is a quick in and out play down to the 93 level as this was the previous swing high.
This is a technical trade based off a break and retest of structure, concurrently having the 1 hour and 4 hour 50EMA lining up at the same area, as well as the 382 fib retracement.
Stop loss is placed right above the 618 retracement and target is the 272 extension which coincides with the 93 level where the last structure was broken.
LongStopping volume around Rs 185 then stock came to same levels on diminishing supply. Sellers are exhausted. SL 189, tgt 250. Risk :Reward =1:5
NZDUSD Short Trade SetupHello Traders
The last top should be the end of the yellow 5. It should be making a correction now. It can stay over the green trendline or come down more for a bigger correction. That's why I want to take a long trade to hedge it at the end of the C. I placed a pending order over the last top and when it's triggered, I'll place a sell limit order to 118 extensions of the yellow A to hedge my long trade.
Trade with care.
Bulent
Short-term signal for Bitcoin growthBitcoin price has broken through the upper border of the triangle and is now fixing above it. On the 4h timeframe, the Stochastic and RSI indicators show a clear bullish divergence, which is a signal for growth. We continue to wait for a reverse correction in the range of $10,750 - $11,000.
A good point to enter a position will be at the retest of the upper border of the triangle. We would advise to enter purchases in the range of $10,189 - $10,060 with targets near $11,000 (~ 8% - 9%).
Kava failed to breakout (Testnet sell the news)Lets put it simple. Kava failed to break 4.5 level - we will likely retest lower resistances
TP 3.7 level
SL 4.2 level
This one is a quick one.
personally, I am still bullish longterm but decided to short since I had margin positions still opened from lower levels.
EURCHF Short Trade SetupHello Traders
If the blue B is a running flat we should get at least one more downward impulse for the completion of the higher degree expanding flat. That's why I'm waiting for a correction to take a short trade. After it brakes the previous low, I'll hedge my trade.
Trade with care.
Bulent