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Smartmoneyconcepts

Very Bullish on NVIDIA ! Point of Interest at $140.76 but wait..NVDA: Our point of interest is 140.76, and breaking this point would confirm a change of character (CHOCH) or a break of the main structure. But wait before that… We have three validations, one of which is extremely important and needs to be analyzed. The first validation is the break of the ascending channel. Whenever a candle completely exits the channel (body and wick), I consider it a 100% break. Here we have a candle that broke out with significant strength, and in the days that followed, it made a change of character or CHOCH, which is a break of the previous structure or previous swing. The second validation is that the 8 and 21 EMA lines show strong divergence. This means that the price has enough strength to continue moving upward. However, we have not yet seen any pullback. Remember that price cycles are distinguished by 3 movements: 1. Momentum 2. Pullback 3. Impulse We should always measure how much strength the price has by monitoring volume and the divergence of these two important EMAs. My third validation is that we are approaching their earnings report, which could create buying pressure for NVDA before the report, as previous reports have favored the stock and driven the price upward. BUT WAIT ! HOLD YOUR HORSES BEFORE THAT!!! We cannot ignore the order block I have around $134. Be cautious there, as it’s a zone where the price previously had significant liquidity. My prediction is that we may see a retracement before a strong push to our point of interest. Thank you for supporting my analysis. Best regards,
NASDAQ:NVDALong
by RocketMike111
YEP! ALL-TIME HIGHS BABY! You're welcome! :) Pretty simple... After identifying a candle with buying pressure, last week I announced that we would very likely be hitting new all-time highs simply by following the N# pattern that was unfolding at that very moment with precision. VALIDATIONS ARE THE KEY TO PREDICTING A MARKET MOVE. But what do I mean? Here’s a recap of the moves I got in 1 week: #1 It gave me a breakout. #2 It gave me an exact retracement to my order block area that I was looking for. #3 It gave me the volume I needed to see. #4 It gave me a volume candle with buying pressure. #5 It gave me an immediate bullish structure. #6 The "N3" pattern is being fulfilled precisely. How many validations do I have so far? 6 Validations!!!! Don’t you think we’re in a bullish scenario where, with all these validations being met exactly, we could see a new extreme, breaking new all-time highs? OF COURSE WE ARE! The more validations you have in an analysis, the more likely the scenario you’re looking for will be fulfilled correctly. Now... Going back to SPY, all-time highs are uncharted territory! We must be very cautious, and as soon as the retracement begins, I’ll start my analysis again. Best regards, and I hope this mini-lesson helps fine-tune your price analysis process. Thanks for supporting my analysis. Best regards.
AMEX:SPYLong
by RocketMike111
Trading EURUSD | Judas Swing Strategy 08/10/2024Traders become enthusiastic with the start of a new week, as it presents an opportunity to capitalize on the market's offerings, and we were hopeful of entering into profitable trades this week. We arrived at our desks at 08:25 EST, energized and prepared to trade. With five minutes remaining before our trading session begins, we prepared by delineating our trading zones. After defining our zones, we wait for price to sweep the high or low of the trading zone, as this will help us establish a bias for the trading session. After five minutes, a sweep of the trading zone's low occurred, indicating that we should look for buying opportunities during this trading session. Shortly after the low sweep, we observed a Break of Structure (BOS) to the buy side, leaving behind a Fair Value Gap (FVG). This means that all that remains before we can initiate a trade is to wait for the price to retrace back into the FVG. Once the next candle enters the Fair Value Gap (FVG), we can initiate the trade after the candle closes. We should verify that the entry price and low of the price leg that broke structure is at least 10 pips. If it's not, we'll set our stop loss at 10 pips and place our Take Profit (TP) at twice that amount. To minimize emotional attachment to trades, we risk only 1% of our trading account and target a return of twice that amount if the trade moves in our favor. After a short while, we reviewed our position and discovered we were in a drawdown, which was acceptable to us since we had only risked what we were prepared to lose. Subsequently, we received an alert indicating that our position had reached our stop loss. It's crucial to understand that incurring losses is a normal part of trading, particularly when you have data supporting your strategy's long-term profitability. The best course of action is to learn from these losses to improve your trading skills.
by CleoFinance