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Shortsetup

Oracle: Is a Crash Inevitable? Oracle is another stock we're adding to our analysis. Firstly we're particularly looking at the monthly chart to grasp the big picture. We believe that since the start of the entire cycle around the $3 mark at the turn of the millennium, there has been a rise to a maximum level of $127.5, marking the end of our Wave I or the 5-wave cycle. Now, we anticipate being in Wave II, which should retrace between 50% and a maximum of 78.6%, with our target entry at the 50% level, coinciding with the support zone of Wave (4). However, we firmly believe that we won't exceed $127 again unless we encounter an Expanded Flat scenario, where reaching 138% is still possible, but we should not surpass it. Therefore, Oracle presents a very bearish scenario over a long period. We will also look for possible short-term entries to potentially initiate positions.
NYSE:ORCLShort
by stromm
2
Monster: Sell SignalSince our last analysis of Monster, we've observed a significant rise to just over $60. However, we now believe that Wave B has concluded. There's a scenario where we could climb higher, but we don't subscribe to that view. We suspect a double top formation near the $60.50 mark, corresponding to the Wave I cycle, and anticipate a five-wave downward structure leading to Wave C or the overarching Wave (A). We're setting a short entry because we believe the structure allows for the assumption of a double top formation. Given this is a double top, we also expect to see a double bottom. Nonetheless, our target remains the upper end of the support zone, as we don't want to quibble over a few percentage points and risk not triggering our take profit. Therefore, we've set our target at $49.88.
NASDAQ:MNSTShort
by stromm
Alikze => PEPE | Pullback to the 61.8 Fibo areaIn the daily time, it is moving in an ascending channel. According to the movement of the previous wave that went through a cycle and then in the form of a zigzag correction in the range of 0.38 fibo, the previous wave has encountered support and is currently above 61.8 fibo, and the recent correction can be a pullback after the failure of the zone, which has the ability to rise. It will have up to the specified range of supply and after that minimum wave return will continue up to the specified areas. But if the current range is broken, there is a possibility of correction to the bottom range of the channel for recovery. 🟩Sup: 0.0000011693 ⛳️Tp 1:0.0000015830 - 0.0000016760 ⛳️ Tp2 :0.0000020329 ⛳️ Tp3 :0.0000025657 ----------------- Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support. Sincerely.❤️
Long
by alikze
8
EURUSD- Short Position Initiated on Downtrend ConfirmationLooking at the EURUSD chart on the 1-hour timeframe, we can observe that the pair is in a strong downtrend, currently priced at 1.07720 at the time of writing. Upon analysis, we found that the pair is currently testing the 100MA alongside the 61.8% Fibonacci retracement level, with previous support now acting as resistance, aligning with our analysis indicating further downside movement. We've initiated our first short position with a stop-loss above the 78.6% Fibonacci level, representing approximately 0.14% risk. Our initial target for profit-taking (TP) is set at the previous low from March 24th, which is approximately 0.45% lower than our current position. This provides us with a risk-reward ratio of 1:3. Please note that this represents my personal view and is not intended as advice to buy or sell.
Short
by Coder775
Bitcoin's ATH Struggle: Eyeing a Retest of 59K Ahead HalvingAs Bitcoin grapples with momentum after reaching a new all-time high (ATH), the approaching halving event casts a spotlight on significant price levels that could dictate the market's next big move. With the bulls facing resistance in pushing beyond the ATH, a retest of the 59K support seems increasingly plausible. The 59K level is the immediate support that may come into play as the market digests its recent gains. This region is pivotal; holding above it might reaffirm buyer strength, while a break below could indicate a shift in market sentiment, prompting a reevaluation of bullish commitments. In the event of a breakdown beneath 59K, the lower support box emerges as the primary area for potential re-accumulation. This zone, highlighted by previous consolidations, may offer a strategic entry point for traders looking to buy the dip, anticipating a resurgence in buying pressure post-halving. Investors and traders should be prepared for this potential scenario by considering the 59K level as an initial barrier for defense and the lower box as a second line of support. A successful retest of these areas could well be the precursor to the next leg up, as past halving events have often preceded significant upward trends. Maintaining vigilance around these key levels is crucial as the halving approaches. It's advisable to have a clear risk management strategy, with well-defined entries and exits, to take advantage of the opportunities that the retest of 59K and the lower support box might present in this dynamic landscape.
BYBIT:BTCUSD.P
by Oak_the_trader
1