ETH Ethereum Potential retracement soonIf you haven`t bought the recent Double Bottom on ETH:
Now Ethereum might be facing bearish pressure following the U.S. Department of Justice's (DOJ) launch of a criminal investigation into Tether, the issuer of the widely used stablecoin USDT.
According to reports from the Wall Street Journal, this investigation is led by the U.S. attorney’s office in Manhattan and focuses on potential violations of sanctions and anti-money laundering regulations.
As Tether’s USDT is a crucial component of the cryptocurrency ecosystem, widely utilized for trading and liquidity on various platforms, any negative developments regarding its regulatory compliance could have significant ramifications for Ethereum. Tether's stability and its ability to maintain its peg to the U.S. dollar are vital for many trading pairs involving Ethereum. If the investigation reveals serious issues, it could lead to a loss of confidence in USDT, prompting traders to seek safer alternatives or even pull out of the market altogether.
The ripple effects of Tether’s troubles may extend to Ethereum and other cryptocurrencies that depend on stablecoins for liquidity. A decline in USDT’s credibility could trigger panic selling, as traders rush to liquidate their positions in Ethereum and other assets, leading to increased volatility and downward pressure on prices. This scenario could particularly impact Ethereum, given its integral role in decentralized finance (DeFi), where USDT is frequently used for collateral and trading.
The scrutiny surrounding Tether may prompt regulators to cast a wider net over the cryptocurrency market, leading to increased oversight of other stablecoins and projects operating on the Ethereum network. This heightened regulatory environment could deter new investments and innovations within the Ethereum ecosystem, hindering its growth potential.
Signals
GOOGL Alphabet Options Ahead of EarningsIf you haven`t bought the dip on GOOGL:
Now analyzing the options chain and the chart patterns of GOOGL Alphabet prior to the earnings report this week,
I would consider purchasing the 165usd strike price Puts with
an expiration date of 2024-11-1,
for a premium of approximately $4.80.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
AMD Advanced Micro Devices Options Ahead of EarningsIf you haven`t bought AMD before the previous earnings:
Now analyzing the options chain and the chart patterns of AMD Advanced Micro Devices prior to the earnings report this week,
I would consider purchasing the 160usd strike price Calls with
an expiration date of 2024-11-1,
for a premium of approximately $6.25.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
TESLA just made a crucial break-out that few are noticing.Tesla (TSLA) soared last week following the better than expected earnings, an event we covered extensively, and have practically erased all the negativity/ cautiousness that came following the Robotaxi event.
However, the closing of last week found Tesla making a crucial bullish break-out that might have gone under most people's radar. The price not only broke the Lower Highs trend-line that started all the way from the November 2021 All Time High (ATH) but almost managed to close the 1W candle above it.
Technically this is a major buy signal long-term that targets the final two Resistance Zones (1 and 2) of the Bear Cycle. With the 1W RSI effectively consolidating like February - May 2023, we believe that as last year, the price will now start the 2nd phase of the April 22 2024 Bullish Leg of a potential 2-year Channel Up.
We expect Resistance Zone 1 to break and if upon a re-test it holds, our long-term Target of $380.00 should finally be materialized.
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Building a Positive Mindset for Trading SuccessIn the world of trading, cultivating a positive mindset is essential for unlocking opportunities and maximizing potential outcomes. Positive thinking in trading involves recognizing prospects in every situation, learning from mistakes and setbacks, and nurturing a steadfast belief in your abilities and goals. Traders with a positive outlook tend to be more risk-averse while remaining open to growth, leading to more consistent profits. However, it’s crucial to approach risk strategically; unchecked optimism can lead to reckless decisions and financial losses. Thankfully, optimistic traders often find it easier to bounce back from errors, allowing them to maintain their focus in this challenging environment.
📍 Setting Yourself Up for Positive Trading
A constructive trading mindset facilitates learning and encourages the exploration of new strategies and techniques, promoting continuous improvement. Here are some effective strategies to set yourself up for success and cultivate a positive trading mindset
1. Articulate Goals and Strategies Positively: Frame your objectives with a positive spin. For instance, instead of saying, “I don’t want to lose money,” rephrase it as, “I aim to grow my wealth.” Rather than expressing fear about taking risks, remind yourself, “I possess the skills to manage risk effectively.” When uncertainty arises, tell yourself, “I will navigate this situation and find a solution.”
2. Practice Reframing: Reframing is the skill of pivoting your perspective to highlight positive outcomes and learning experiences. For example, if you close a trade at a loss, rather than viewing yourself as a bad trader, remind yourself that you’ve gained invaluable experience, equipping you to refine your strategy.
3. Celebrate Achievements: Acknowledge and celebrate your accomplishments, no matter how small. Avoid comparing yourself with other traders; instead, measure your progress against your past performance. This practice boosts your motivation and self-esteem, reinforcing your commitment to personal growth.
4. Employ Positive Affirmations: Integrate positive affirmations into your routine—short, empowering statements that reinforce your confidence and optimism. Phrases like “I am a successful trader,” “I achieve my goals,” and “I can manage any situation” can cultivate a positive mindset and focus.
5. Surround Yourself with Positive Influences: Engage with other traders who uplift and inspire you through their experiences and insights. Consume enriching resources—books, podcasts, articles—that not only expand your knowledge but also serve as motivation in your trading journey.
6. Avoid Comparisons: Recognize that each trader has a unique style, pace, and set of results. Instead of envying or attempting to emulate others, focus on your individual development. Embrace the understanding that success in trading is a gradual process that demands patience and persistence.
7. Enhance Your Skills and Knowledge: Continuous learning is integral to trading success. Dedicate time to studying theory, analyzing market trends, and keeping abreast of news that affects the markets. Experiment with diverse strategies and develop various analytical techniques. The more you master the nuances of trading, the greater your confidence will become—a key driver of a positive outlook.
8. Prioritize Rest and Relaxation: Trading can be intense and stressful . Ensure you allocate time to unwind and recharge. A rested mind is better equipped to make rational decisions and maintain a balanced perspective.
9. Implement Risk Management Strategies: Develop and adhere to robust risk management techniques to minimize anxiety and mitigate large losses. Solid risk management fosters a positive trading experience and helps maintain composure in turbulent market conditions.
10. Embrace Flexibility: Adaptability is vital in the ever-changing landscape of trading. Acknowledge that market conditions can shift unexpectedly and be prepared to adjust your strategies accordingly. View challenges not as obstacles, but as opportunities for growth that will enhance your resilience and expertise.
11. Cultivate Optimism: Focus on appreciating your current accomplishments rather than lamenting what you lack. Actively seek the positive side of people and situations. Maintain faith in your abilities and trust that things will unfold favorably.
By nurturing a positive mindset and employing these strategies, you can set yourself up for success in trading. Remember, every step you take toward maintaining an optimistic outlook will not only enhance your trading performance but also contribute to your overall well-being.
Traders, If you liked this educational post🎓, give it a boost 🚀 and drop a comment 📣
Potential Upside for EURNZDTechnical overview:
The EURNZD currency pair has recently formed a head and shoulders pattern, and the price is currently at the neckline of this pattern as well as a significant resistance zone (1.8065-1.8160). If the price successfully breaks through this area, it could reach the specified price targets. However, if the price reverses downward from this zone, the first valid support level will be 1.78360.
Fundamental overview:
Considering recent geopolitical tensions that have driven the market toward risk-off sentiment, along with recent statements from the RBNZ, the NZD has weakened over the past month. If tensions continue to escalate in the coming days and weeks, we can expect this currency pair to increase further.
This analysis will certainly be updated after the price reacts to the resistance zone and neckline. Don’t miss the upcoming trading opportunities in this currency pair.
What are your thoughts on EURNZD ? are you bullish or bearish?
GOLD What Next? SELL!
My dear subscribers,
GOLD looks like it will make a good move, and here are the details:
The market is trading on 2740.0 pivot level.
Bias - Bearish
Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bearish continuation.
Target - 2729.5
About Used Indicators:
The average true range (ATR) plays an important role in 'Supertrend' as the indicator uses ATR to calculate its value. The ATR indicator signals the degree of price volatility.
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WISH YOU ALL LUCK
GBPUSD: Updated Chart, Price is Approaching Buying Zone! FX:GBPUSD
As we previously stated in our chart that we expect price to drop nearby to our entry zone however, price continued to rise and then started dropping please be minded that there Amy be early price mitigation due to this vary reason. In our opinion stick with the plan and do not take any early entry as there may be trap before the actual trade begins. good luck.
EURUSD: Move Down Expected! Sell!
Welcome to our daily EURUSD prediction!
We made our analysis today using SMC and ICT trading theories, which, combined with our trading experience all point to the downside. So we are locally bearish biased and the target for the short trade is 1.08003
Wish you good luck in trading to you all!
GOLD: Local Correction Ahead! Sell!
Welcome to our daily GOLD prediction!
We made our analysis today using SMC and ICT trading theories, which, combined with our trading experience all point to the downside. So we are locally bearish biased and the target for the short trade is 2,726.557$
Wish you good luck in trading to you all!
DXY: Strong Bullish Bias! Buy!
Welcome to our daily DXY prediction!
We made our analysis today using SMC and ICT trading theories, which, combined with our trading experience all point to the upside. So we are locally bullish biased and the target for the long trade is 104.315
Wish you good luck in trading to you all!
SILVER: Market Is Looking Up! Buy!
Welcome to our daily SILVER prediction!
We made our analysis today using SMC and ICT trading theories, which, combined with our trading experience all point to the upside. So we are locally bullish biased and the target for the long trade is 33.68170$
Wish you good luck in trading to you all!
NASDAQ Ready for an impressive finish of the year.Nasdaq (NDX) is coming off a 4H Golden Cross, the same kind if formed on November 08 2023, straight after the bottom of the 18-month Channel Up. As the 1D MA200 (red trend-line) has been in strong support of this Channel Up, the index is now on a similar Bullish Leg (blue Channel) as the one that started 1 year ago.
We are at the stage were after a roughly +20% rise from the bottom, the short-term Bullish Megaphone tested and held the 4H MA200 (orange trend-line), which based on the January 2024 fractal, could initiate the 2nd Phase of the Bullish Leg.
The previous one peaked on a +31% rise, so we expect the index to reach at lest 22000 by the end of the year.
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EURUSD confirmed the bottom. Low risk buy now.The EURUSD pair has turned sideways since it hit last week the bottom of the 1-year Channel Up and even though it hasn't broken above the 1D MA200 (orange trend-line) yet, the 1D RSI has given us the strongest buy signal possible.
That is breaking above its MA (yellow trend-line) after rebounding on oversold soil (below 30.00) last Wednesday. This is exactly what happened on the April 16 2024 Low. Even if that is a mid-correction rebound like the February 14 one, as both decline sequences have been of -4.00%, it suggests that we can target at least the 0.618 Fibonacci retracement level until the price resumes the bearish trend.
As a result, we consider this a low risk buy, targeting 1.10000 (below the 0.618 Fib).
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XAUUSD (GOLD) Reaching 3000$ this yearDear Traders,
Here's how gold could potentially reach $3000 (or rather, $3,000) by year-end if more rate cuts occur:
Lower Rates Mean Lower Yield on Alternatives: When central banks cut interest rates, bond yields often decrease, making non-yielding assets like gold more appealing as a store of value. Investors may shift toward gold, driving up demand and prices.
Weaker Dollar Effect: Rate cuts can lead to a weaker U.S. dollar. Since gold is priced in dollars, a weaker dollar often makes it cheaper for international investors, increasing demand and potentially boosting its price.
Economic Uncertainty and Inflation Hedge: With lower rates, there's a risk of rising inflation, as cheaper borrowing often fuels spending. Gold is seen as a traditional hedge against inflation, so as inflation expectations rise, investors may buy more gold to preserve their wealth.
Safe-Haven Demand: Rate cuts sometimes signal an economic slowdown or recession risks. In uncertain economic times, investors turn to safe-haven assets like gold, potentially pushing prices higher.
If the Fed moves toward significant rate cuts, each of these factors could align, creating strong demand for gold and possibly driving it closer to $3,000.
Greetings,
Zila
DXY Is Bullish! Long!
Please, check our technical outlook for DXY.
Time Frame: 4h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is testing a major horizontal structure 104.214.
The above observations make me that the market will inevitably achieve 104.676 level.
P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.
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GOLD Is Very Bullish! Buy!
Here is our detailed technical review for GOLD.
Time Frame: 9h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is approaching a significant support area 2,730.973.
Taking into consideration the structure & trend analysis, I believe that the market will reach 2,782.993 level soon.
P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.
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GBPUSD Is Going Up! Long!
Take a look at our analysis for GBPUSD.
Time Frame: 6h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is approaching a significant support area 1.296.
The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 1.306 level.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
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EURJPY Will Grow! Buy!
Please, check our technical outlook for EURJPY.
Time Frame: 9h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is on a crucial zone of demand 165.018.
The oversold market condition in a combination with key structure gives us a relatively strong bullish signal with goal 167.407 level.
P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.
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XAUUSD See when to sell and when to buy.Gold (XAUUSD) has been trading within a Channel Up since the August 05 Low and since last Tuesday, the price action has turned sideways to the point that the 1D RSI is breaking today below its MA trend-line.
This is a break-out consistent with the start of the previous two Accumulation Phases of the pattern, but in order to confirm this we need the RSI to close the day below it. At the same time the price remains bullish as long as it is being supported by the 4H MA50 (red trend-line). If both break, it would mean that the new Higher High of the Channel Up is in and that the best action would be to buy near the bottom again (2,700).
If on the other hand the 4H MA50 holds and the 1D RSI closes above its MA, we will stay bullish, targeting 2800 and then reversing to a sell towards the bottom of the Channel Up.
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BITCOIN All indicators aligned for an incredible 12-month rallyBitcoin (BTCUSD) broke last week above its 7-month Bearish Megaphone pattern, which was essentially the pattern that absorbed via a relief pull-back the incredible rally that the market had since October 2023, fueled at large by the ETF speculation and then launch.
** Bearish Megaphones inside 7-year Channel Up **
This pattern is, as you can see, part of a greater 7-year Channel Up that encompasses the last two Cycles of BTC. Halfway through the 2018 - 2021 Cycle, the market also had a Bearish Megaphone, a little larger, lasting for 12 months before the price broke above it.
** The importance of the 1W MA50 **
That bullish break-out came when the price regained the 1W MA50 (blue trend-line) as Support and until the Cycle Top, it was never compromised again. In an amazing display of Cycle symmetry, Bitcoin is also being supported by the 1W MA50 right now (has been since the March 13 2023 weekly candle), in fact it was successfully tested and held 3 times since August 05 2024.
** MACD Bullish Cross **
The Megaphone break-out and the 1W MA50 support aren't the only bullish indicators that point to a heavy price increase next. Perhaps the most important of all is the (L) MACD Bullish Cross on, also on the 1W time-frame, the first such formation in a whole year (since October 23 2023). This is a huge development as it comes after 7 months of non-bullish price action, indicating a shift in trend.
** Can the top be at $200k or above? **
When all those indicators were aligned in mid 2020, BTC kick started the 2nd, final and most aggressive Rally of its Cycle. It was +65% stronger than the 1st Rally. As a result, we may experience in the next 12 months a rally of +615% (65% greater than the +373% 1st Rally).
But if this seems too great without a catalyst like the ETF launch was in January, even if BTC replicates the bullish price action of November 2022 - March 2024, it will still hit the $200k mark. What history has shown at least, is that we can stay bullish, until a 1W candle closes below the 1W MA50, whether that's at 100k, 150k or 200k and above.
So what do you think about this triple bullish combo? Is it enough to initiate a 12-month rally? And if so, what is your target? Feel free to let us know in the comments section below!
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