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SHIBUSD 50sma ResistanceShiba Inu has failed to move above the 50sma after finding resistance at that level for the past week. Price risks falling back into the downtrend channel with a possible re-test of local lows near $0.00002826 which is roughly -18% from the current price of $0.00003560. Lower indicators are all showing bearish trend and momentum behind price in the short and intermediate-term. Should Bitcoin continue to show weakness, expect the rest of the altcoin market to follow suit.
FTX:SHIBUSDShort
by PrepForProfit
1
SPY Bearish Divergences w/ Potential Triple Top$SPY S&P500 ETF. SPY is currently hesitating near all-time highs which has led to a potential bearish triple top formation(upper red arrows) on the daily chart. As price has stayed relatively the same since early November, the lower indicators have all been declining(lower red arrows) which has created a bearish divergence. The lower indicators all show that the internals behind the recent rally in price from October to November have weakened, but have not flipped bearish yet. The PPO indicator shows the green PPO line trending below the purple signal line. This indicates a short-term loss of upward momentum in price. This indicator isn’t considered bearish until both the green and purple lines are below the 0 level. What we would need to see going forward in order for price to continue moving higher is for the green line to cross back above the purple and for both to continue moving higher. The ADX indicator shows the green DI and purple DI lines overlapping which means that the short-term trend in price has flatlined. When the green line is above the purple line the short-term trend in price is up, and when the purple line is above the green line the short-term trend is down. The histogram behind the DI lines is declining which indicates weakening trend strength. What we want to see here is for the green DI line to cross back above the purple DI line, and then for the histogram to begin rising which would indicate a short-term bull trend with increasing strength. The TDI indicator shows the green RSI line rolling over after finding resistance at the horizontal 60 level and the middle of the RSI Bollinger Bands. The intermediate momentum behind price can be considered bullish based on the fact that the RSI is above the horizontal 50 level and so is the center of the BBands. When both are below the 50 level the short and intermediate momentum in price can be considered bearish. What we want to see in this indicator is for the green RSI line to cross above the center of the BBands and then rise above the 60 level to give us a strong indication that the short-term and intermediate-term momentum behind price is bullish. Worth noting is that as price rose this week, volume declined. This indicates that less traders were in the market moving price back up to test the all-time high near $470 after the previous double top. Should price continue to hesitate and rollover over from here, local lows can be looked at for potential levels of support. The two most recent local lows to watch are at $450 and $425, those were the last two levels of demand prior to new all-time highs being made. If the market is still mostly bullish, those two levels will hold, with $425 being the critical level. #sp500 #spy #spx #stocks #equities #trading #investing #chart #analysis #technical #indicators #candlestickchart #pricepercentoscillator #ppo #averagedirectionalindex #adx #tdi #tradersdynamicindex #rsi #relativestrengthindex #trend #momentum #tradingview #price #etf #divergence #bearish #bearishdivergence
AMEX:SPY
by PrepForProfit
Bitcoin 1/hr Fib ConsolidationBitcoin 1/hr chart shows price trending between the 50% and 61.8% Fibonacci retracement levels in a tight $1,800 range. The fib levels are drawn from the recent peak at $57,670(100%) and $42,333(0%). What we’re looking for here is a price move above the 61.8% fib level at $51,811 if we want to see continue gains. Should price fail to hold support at the 50% fib level at $50,000, then we can start to look at possible points of support at the 38.2%, 23.6% and 0% fib levels. Price would technically still be in an uptrend, albeit under a period of consolidation, as long as the $40k level isn’t breached. Should price fall below $40k the trend would flip from a period of consolidation to a new bear trend. Lower indicators are looking favorable for bulls as they stand. The PPO indicator is showing both the green PPO line and purple signal line above the 0 level. In order for the uptrend in price to continue we need to see the green line cross back above the purple line and for both lines to move higher. That would indicate healthy bullish momentum behind price. The ADX indicator shows the purple DI line above the green DI line which indicates a bearish trend behind price. The lines appear to be on the verge of another crossover though which would put the green line back above the purple line and indicate that there is a positive trend behind price. The TDI indicator shows the green RSI line trending in the lower half of the purple BBands which indicates a negative trend for price in the short-term. The RSI line also recently attempted to cross above the 50 level, but rolled back over. Bitcoin needs to see an RSI reading above 50, and preferably 60, in order for momentum to be considered bullish. Overall, neutral on price until the more risk-tolerant traders move it one direction or another. Above the 61.8% fib at $52k and bulls will be in charge, below the 50% fib at $50k and bears will have the upper hand on price movement.
COINBASE:BTCUSD
by PrepForProfit
8
Bitcoin Holding 50% Fib Level After a large drop over the weekend Bitcoin is holding above the 50% Fibonacci retracement level which is drawn from the July 20 low near $29,500(100% Fib) to the Nov 10 high at $69,000(0% Fib). This level is acting as decent support for now, but we have yet to see any eager buyers of size step in and push price back up into the blue uptrend channel, and above the 38% Fib level which is where price needs to be if we want to see the uptrend in Bitcoin continue-and by proxy the rest of the cryptosphere. For now the lower blue line of the uptrend channel and 39.2% Fib level can be considered overhead resistance levels for price in the short-term. Should bulls be unable to push price higher from here and the 50% Fib level fails as support, we’re looking at a potential move back down near the yellow 61.8% Fib level to re-test the weekend lows. Just below there I’ve drawn a teal line near $40,000 that stems from local lows made back in September. That was the last area of strong demand prior to the dip this past weekend, and price held above it on this most recent dip. For now we can consider that area of support to still be valid. Price will technically remain in an uptrend unless/until the $40k level is taken out as price stands right now. Should price fall below $40k bears will most likely take it all the way back down to test the summer lows near $29k as there are likely a lot of newly leveraged bulls in the market right now. Currently neutral on price due to the magnitude of the weekend drop and lack of follow-through after the jump back up to $50k. Lower chart indicators are all showing negative trend and momentum for price which isn't helping the bullish case right now. Will turn bullish again if price can move back into the blue uptrend channel and above the 38.2% Fib level.
COINBASE:BTCUSD
by PrepForProfit
Wedge Breakout with S/R flip and Fibonacci confluence The wedge has finally broken out and has created a retest and seems to be coming down crushing, hopefully it keeps going down. The support which was broken yesterday has now turned to a resistance and price bounced off the 50% Fibonacci level. The traders dynamic index has also provided extra confluence with the the green line going below the yellow market baseline. I can finally say all my conditions for this trade are met. Fingers crossed its a win.
Short
by Elvis_ben
4
A Cut And Dry Traders Dynamic Index (TDI) Review & TutorialHey Traders 👋 I wanted to do a quick lesson and overview of the Traders Dynamic Index (TDI) Indicator and why it is such a great tool to add to your charts. First off all I'd like to give credit to the creator of the specific TDI That I use, This is made by @LazyBear and you can find this exact version at the link below, there is also a link to tip the creator if you use this regularly 😜 Indicator link >> So what is the TDI? The TDI or the "Traders Dynamic Index" is a trend trading indicator that is based on 3 popular indicators: Bollinger Bands, RSI, and Moving Average. It was created by Dean Malone as a tool to assess over all market conditions as well as generate accurate entry and exit signals. You can see the TDI added above in two windows (the original colors and my color preference) and each consists of five lines: two RSI lines and three Bollinger Bands. The green RSI line is called fast, the red one is signal - it is calculated based on a longer averaging period. The RSI lines show the strength and volatility of the market. When they cross, they give short-term TDI signals. Two of the Bollinger Bands are blue, they constitute a trading channel; the yellow line is called the middle, or main, line. The central axis of the indicator is level 50; levels 32 and 68 are also marked. The area above 68 is the overbought zone and the area below 32 is the oversold zone, as in the classical RSI. Levels 68 and 32 help to define market reversals. If the yellow line crosses level 32 downwards, a local low forms in the market. A subsequent breakaway of level 32 upwards signals a reversal or the beginning of an ascending correction. If the yellow line rises above 68, a local high forms in the market. A breakaway of this level downwards signals a reversal or the beginning of a descending correction. In my own personal experience I have found that adding a stationary horizantal line at level 50 (marked in aqua on "my colors") will help with finding how far out of balance the market is as it will always try to find equilibrium at the stationary 50 and "liquid" 50 (the yellow line) Short Term Entry And Exits The crossing of the green and red lines gives signals for short-term trading. They cross all the time, so its best to take only those in the oversold and overbought areas or add in another indicator to add extra confirmation of entry and exit. If the fast green line crosses the signal red line from below, it is a signal to buy; if vice versa, it crosses the red line from above, this is a signal to sell. It would be recommended to take profit when the green line touches the bollinger band across the pane in the same direction of the buy or sell as the most early point, or close all positions when the red and green cross back over (this is best shown in my chart above) Long Term Entry And Exits And Overall Market Analysis The crossing of the red and yellow lines gives a more trustworthy long-term signal. When the signal red line crosses the yellow one from below, it means the bulls are ready to attack and signals to buy. And vice versa: if the red line crosses the yellow one from above, it means the market is bearish and signals to sell. The crossing of levels 32, 50, 68 by the yellow line Another trading signal emerges when the yellow indicator line crosses levels 32, 50, or 68. This is a rarer long-term trading signal, especially if it appears on longer timeframes. The central axis of the TDI is level 50. If the yellow line crosses it from below, this is a signal to buy; if it crosses the level from above, this is a signal to sell. This concludes my review of the Traders Dynamic Index (TDI) I hope you found this useful! Subscribe, Like, And Drop A Comment If You Did!
Education
by renegadeforex
5
S&P 500 Bearish DivergencesThe daily chart of the S&P500 shows price in an uptrend channel while currently trending in the lower half of the channel which is the weaker half of the channel where price is most susceptible to declines. For now the price candles remain green on the daily chart which indicate bullish momentum behind price. Most obvious on the chart right now is a bearish divergence between price and the lower indicators. A bearish divergence occurs when price makes a series of higher highs, while the indicators below make a series of lower high, thus creating a divergence in the trendline drawn across their respective peaks. The Price Percent Oscillator(PPO) shows a steady decline in price momentum with the green line PPO line beginning to cross below the purple signal line. This indicates bearish momentum in the short-term, but since both lines are still trending above the 0 level the intermediate-term momentum is considered to be bullish. The current reading could be interpreted as a bullish momentum pullback. The Average Directional Index(ADX) shows the green directional line above the purple directional line which indicates a bullish trend in price, but the purple line is close to crossing back above the green line which would indicate a shift to a bearish trend in price. The green directional line is in a slow decline as price has moved higher indicating weakness in the uptrend for price. The histogram in the background is dark green and trending flat meaning that there is no force or strength behind the dominant trend. The Traders Dynamic Index(TDI) shows the multi-color RSI line declining, but still above the 50 level which is the midpoint of the total RSI range. Since most of the RSI trading range has been between the 40-80 levels the background is colored green to indicate bullish momentum in the intermediate-term. We still want to watch that 50 level though as a breach below it could mark the beginning of a strong momentum pullback in price. The Bollinger Bands of the RSI are narrow and trending sideways indicating that volatility has leveled out and that a large move in either direction is likely. The TDI is also showing a bearish divergence from price above just as the other indicators are. Overall, the S&P500 remains bullish on the daily chart with caution warranted due to the bearish divergences between price and the lower indicators. Current stop-loss orders for trend traders should be placed just below local lows made in September and October of 2020 near the $3230 level.
SP:SPXLong
by PrepForProfit
Gold Bull Flag Breakout AttemptGold price #xauusd is attempting to break above the upper line of the downtrend channel which would be a bull flag breakout, and the expected result of the bull flag pattern. The next resistance level stems from the local high made in early November at $1,966/oz. The stop-loss level stems from the local low made in early December at $1,763/oz. A break above the red line is bullish, a break below the yellow line is bearish. The Price Percent Oscillator(PPO) shows the green PPO line rolling back up above the 0 level which is bullish as a move belwo the 0 level would indicate a shift to bearish price momentum in the intermediate-term. What we want to see going forward is for the green PPO line to cross back above the purple signal line as this would indicate a shift back to bullish price momentum in the short-term. The PPO indicator is currently reading bullish overall. The Average Directional Index(ADX) shows the green +DI line above the purple -DI line which indicates a postive trend behind price in the short-term. The histogram in teh back round is green and declining which means that the dominant trend(bullish) is weakening. What we want to see going forward is for the green +DI line to remain above the purple -DI line and for the histogram bars in the background to begin rising to indicate a strengthening bull trend. Overall, the ADX is reading bullish. The Traders Dynamic Index(TDI) shows the multi-color RSI line currently green and trending back above the centerline of the Bollinger Bands which indicates that momentum is shifting bullish in the short-term. The TDI background is currently green and filling the 40-80 levels which indicates that price has bullish momentum in the intermediate-term. When the bulk of the RSI action is between the 40-80 levels the overall momentum behind price is considered to be bullish. Overall, gold price is looking good for a re-test of the $2,000/oz level and will more than likely push through it this next time. The most important thing that we learned in 2020 is that there is no limit to the trillions of dollars that will be printed and spent to prop up the stock market. Gold and silver should perform well for the foresseable future because printed money and low interest rates are the only thing keeping the stock market going. Those happen to be two perfect reasons to own precious metals, both physical and stocks.
FX_IDC:XAUUSDLong
by PrepForProfit
Bitcoin Spikes to 127% Fib ExtensionBitcoin has reached the first significant fib extension level when measured from the previous all-time high of $19,891 made in December 2017 to the December 2018 low of $3128. Price is now testing the 127% fib extension after setting a new all-time high in price at $24,200 this morning, with the 127% fib extension resting at $24,451 and currently acting as price resistance. The PPO indicator shows the green PPO line rising above the purple signal line, with both lines rising and trending above the 0 level. The green PPO line trending above the purple signal line indicate short-term bullish momentum, while both lines being above the 0 level indicates bullish intermediate-term momentum. Overall the PPO is indicating bullish momentum behind price. Looking at the TDI indicator we can see the the green RSI line is above the upper purple Bollinger Band. This indicates extreme bullish momentum volatility in price and in general you want to stay long anytime the daily, weekly and/or monthly TDI's show the RSI line above the upper Bollinger Band. The TDI also shows a green background which indicates bullish momentum in the intermediate-term as well. When the bulk of the green RSI line is trending between the 40-80 levels it indicates overall bullish momentum behind price, the 40-80 levels fill green to help identify the bullish momentum trend. While the PPO and RSI are both indicating bullish momentum behind price, Bitcoin has seen a swift run to $24k after making a new all-time high this month so a pullback should be expected. Price spiking to the 127% fib level today would be a good excuse for traders to take some profits. The most important thing to watch going forward if price pulls back is whether or not it holds above $20k. If price falls below $20k(the previous all-time high) it would be a bearish move and likely indicate more losses ahead. If price falls to the $20k level, holds there and then starts to rise again it would be a bullish move, especially if it takes out the 127% fib level which is currently holding back price.
COINBASE:BTCUSDLong
by PrepForProfit
Silver Breaks Below Triangle/Pennant PatternAfter testing $30/oz back in early August and failing to move higher silver has had two significant pullbacks in price. The first was in mid-August which saw price fall from near $30/oz to a low of $23.40/oz on August 12th. The second significant pullback was today which saw price fall from nearly $27/oz at the open of trading today to a low of $23.71/oz-and an ultimate closing price of $24.71/oz. Today's pullback held just above Support 1 which stems from the August 12 low which was made during the first significant pullback after silver tested $30/oz. Should this support level fail to hold going forward, Support 2 is the next level I'm watching and stems from the long-legged doji candle low on July 28th. Long-legged doji candles are price candles where the open and close for the period are at, or near, the same price which creates a small candle body. The wicks, or legs, of the doji candle are long in length and show extreme moves up and down in price during the candle period. A small body and long wicks creates a long-legged doji candle and they are a sign of trader indecision. Since price ultimately moved higher after the July 28th doji candle it indicates that traders went from being undecided to bullish, and that the low of the doji candle should be the short-term low for the next rally. Price rallied to $30/oz on August 7th, declined to $23.40/oz on August 12th and is now testing that August 12th low again at Support 1. The Price Percent Oscillator(PPO) is showing the green PPO line trending below the purple signal line with both lines trending down. This indicates short-term bearish momentum in price. The green PPO line is crossing below the 0 level which indicates that intermediate-term momentum is turning bearish as well. The Average Directional Index(ADX) show the purple directional line has crossed above the green directional line which indicates that price has shifted from a bullish trend to bearish. The histogram in the background is flat, should it begin to rise it would indicate increasing strength in the bearish trend. Overall the ADX is showing a weak bearish trend in price. The Traders Dynamic Index(TDI) show the RSI line has crossed below the lower, blue Bollinger Band which indicates bearish momentum volatility in price. Crossing below the lower BBand has caused the RSI line to turn red which in turn has colored the price candles red as well since the price candle colors are based on the TDI. The background of the TDI is still green which indicates that the intermediate-term momentum in price is still bullish. Overall the TDI is showing a bearish spike in volatility during an overall uptrend in price. After many were hoping for a bullish resolution of the triangle pattern ie a breakout higher in price, today saw a major pullback to a critical support level. For the immediate short-term trend in price to remain bullish silver needs to hold above Support 1 near $23.40/oz. From there Support 2 near $22.29/oz would be the next likely support level on any potential move lower. The last level of support is Support 3 which is also the base area in price that was made before the swift move to $30/oz. Support 3 is in the $17-$19/oz area. Overall I'm still bullish on silver price going forward, but a move below Support 2 would indicate that the short-term trend in price is shifting from bullish to bearish. The would require monitoring price for a shift in intermediate-term trends as well.
FX_IDC:XAGUSDLong
by PrepForProfit