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Double bottom confirmed on the NasdaqA simple reversal trade setup on the Nasdaq. The tech index confirmed a double bottom pattern breakout on November 11th, the day after an epic rally which is among the best days of 2022. The breakout has not seen any momentum as different Fed heads have come out saying different things, and some geopolitical tensions. The markets are still determining if the Fed will slow down on rate hikes and if inflation will slow down. These two things are a topic for a different post. Let's talk about the chart we see. The Nasdaq saw buyers jump in right at the retest zone of the breakout pattern. This is just typical of what we expect from a breakout trade. Traders can either enter now and place their stops below the breakout zone, or await for the recent highs of 11,850 to be taken out before jumping in long. The latter is the more safer way to play and increases your probability of success as it confirms a higher low. Since trading is a business of probabilities, this is a very prudent way to play the trade. There are also TWO other charts which are pointing at higher markets: First, the US 10 year yield is the chart you must be watching to determine where stocks are going. We have a reversal pattern on this, and as yields drop, stock markets rise. Of course, a move into bonds needs to be assessed properly. We have seen a case where the 10 year dropped because of fear (the Poland-Ukraine missile issue). But generally, as yields drop, it is the market pricing in the Fed being less hawkish and even pausing rate hikes soon. Secondly, the US Dollar Index (DXY) heading lower is a positive sign for markets for the same reason as above. A less hawkish Fed. The DXY also broke down and we are awaiting our first lower high. Both of these continuing lower means a higher chance that stock markets, and yes the Nasdaq, continue their reversal recovery. But of course, the Fed in December could put a major halt to this move.
OANDA:NAS100USDLong
by Uncharted-FX
1
Roblox A downward trend broke out!Hello everyone,🙋🏾 ⭐️Here again, Romluck with a new trading idea, Trade inside the channel.💡 ⭐️ About Roblox Corporation develops and operates an online entertainment platform, The company was incorporated in 2004 and is headquartered in San Mateo, California. ⭐️David Baszucki is the founder and CEO of Roblox. What I see:👀 A downward trend broke out👍 Supported on trend lines👍 Trade inside the channel👍 After a drop of about 80%, the downward trend was broken and now we are shuffling sideways. First support at $29. First resistance at $38 followed at $48. An expected profit of about 20 dollars per share ⚠️Don't get excited! Do not be tempted! Easy money only exists in dreams and movies!⚠️ You need to make an entry and exit plan and a stop loss! I chose to use a moving average of MA150 days back, it is recommended by many analysts and for the medium-long term work with MA150 ⭐️ Want to be exposed to the stock indirectly? Choose an ETF..for example METV - 6.8% Holding percentage in the fund NASDAQ:VR - 6.4% Holding percentage in the fund ARKF 1.54% Holding percentage in the fund The trading ideas I find are after searching and investing time. Thanks for the like and comment.⭐️ ⚠️__🚧___🚧___🚧__🚧___🚧__🚧_🚧__🚧__🚧__🚧__🚧_🚧__🚧__🚧_🚧__🚧_⚠️ There is no recommendation for buying or selling or any action in the stock, I am not an investment advisor and publish this article as a hobby only. Everyone has to perform risk management on their own or contact an investment advisor with a license, I don't have one. Investing in the stock market involves risking your money!⛔️ have fun💃🏿
NYSE:RBLXLong
by ROMLUCK
1
BTC, DXY, TNX - The Bear MarketHello friends, Today I want to share some prior posts of BTC (Bitcoin), DXY (US Dollar Index) and TNX (10 Year Treasury Yield) that show how I came to my conclusion to liquidate my crypto and stock positions in December 2021 and share the same concerns with my community since November 2021. From this point, I still personally feel we have more downside to go in the crypto, stock, metals, and commodity markets. Each of the charts below can be clicked on and viewed separately. I would recommend reviewing and understanding the charts and learning the indicators and oscillators. @TradingView is very useful and I recommend everyone learn to chart and understand the charts. If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
BITSTAMP:BTCUSD
by MillionaireEconomics
16
BTC: What to Watch Going into US FOMC Presser This WeekThe US Federal Reserve Open Committee (FOMC) meets Tuesday and Wednesday this week. The hawkish monetary policy that has been fostered by the FOMC has put pressure on risk assets for much of this year. The Federal Reserve, along with other central banks around the globe, have been attempting to tackle sticky inflation that has been running at high levels not seen in decades. Though some argue that inflation may have peaked, it remains sticky and well above central banks' targets, which in the US is 2%. The Primary Chart above shows key levels to watch going into the FOMC presser. The downtrend line in blue, which is the zero line of the Fibonacci Channel, rejected price decisively on September 13, 2022. But with an important trendline such as this one, a retest of the line is not uncommon, similar to what occurred where BTC tested this line from March 28 to April 5, 2022 repeatedly before finally resuming the downtrend. This occurred at the end of BTC's powerful bear rally in March 2022 that coincided with equity indices' rally during that time. The area of resistance that could be tested should price rally or whipsaw higher this week is between $19,900 and $21,416. The Primary Chart uses a yellow-colored ellipsis shape to capture the strong, dynamic resistance levels of this down trendline. The Fibonacci Channel also shows the parallel diagonal lines that run at Fibonacci proportions to this downtrend line, which also should be watched for price support in the coming weeks. The Primary Chart also shows the key Fibonacci retracements of the entire summer rally. BTC has been holding just above its .786 retracement of the mid-June to mid-August 2022 rally. This level lies at $19,246, and price has made a couple attempts to break below it, each of which has failed, suggesting more sideways chop into the FOMC's meeting. The .618 retracement of the summer rally is at $20,521, a level that should also be watched closely. BTC struggled to get above this level in June and July with two failed breakouts. Finally, after getting above this line, BTC began declining and fell back below it after its mid-August 2022 peak. BTC attempted one more rally above it in early September 2022, but this ended up as a failed breakout, another bearish signal along with the downtrend line. In addition to the levels shown on the Primary Chart above, the Supplementary Chart below shows shorter-term Fibonacci levels that also may become relevant this week. Considering that this decline from September 13 to September 19, 2022, may be a completed wave 1 of some larger Elliott Wave structure, it becomes important to consider the retracements as places where the current corrective wave could reverse. These levels are $19,993, $20,526 (coinciding with the other .618 retracement level shown on the Primary Chart at $20,521), $21,058, and $21,815. Supplementary Chart A: Fibonacci Retracements of September 13-19 decline Given the impact interest rates—and tightening financial conditions—have had on risk assets, it may be prudent to also watch interest rates closely. For this purpose, see the 10-year yield chart below. Supplementary Chart B: Current Uptrend in US 10-Year Yield (TNX) and Multi-Year High Reached The 10-year yield has shown no signs of slowing down yet. It continues to push higher, holding its short-term upward trendline from around the start of August 2022 until the present. The longer-term uptrend line has remained in effect for 2.5 years since March 2020. Note also that the 8-day EMA has held as support along with the shorter-term steep upward trendline. Until this line breaks, it is unlikely that crypto assets and equities can make substantial progress toward reversing their current bearish trend structures. For the curious, another chart showing the correlation coefficient between BTCUSD and TNX is shown in the final chart below. This shows that for most of 2022, the relationship between BTC and interest rates has been inverse. Many probably already have known this intuitively while reading news about increasing rates to combat inflation while simultaneously witnessing bear markets across most risk assets this year. This correlation coefficient has at times reached -.64 and -.68, showing fairly high levels of inverse correlation, which means that as yields push higher, BTC has fallen lower. This level has also dropped to lower levels of inverse correlation. Currently, the coefficient is at -.49. Supplementary Chart C: Correlation Coefficient for BTCUSD and TNX (Weekly Chart) ________________________________________ Please note that this technical-analysis viewpoint is short-term in nature . This is not a trade recommendation but a technical-analysis overview and commentary with levels to watch for this week. Also note that countertrend trading, e.g., trading a rally in a bear market, is tricky and challenging even for the most experienced traders. Countertrend trades are lower probability trades as well. This technical-analysis viewpoint could change at a moment's notice should price move beyond a level of invalidation. Further, proper risk-management techniques are vital to trading success. Author's Comment: Thank you for reviewing this post and considering its charts and analysis. The author welcomes comments, discussion and debate (respectfully presented) in the comment section. Shared charts are especially helpful to support any opposing or alternative view. This article is intended to present an unbiased, technical view of the security or tradable risk asset discussed. DISCLAIMER: This post contains commentary published solely for educational and informational purposes. This post's content (and any content available through links in this post) and its views do not constitute financial advice or an investment or trading recommendation, and they do not account for readers' personal financial circumstances, or their investing or trading objectives, time frame, and risk tolerance. Readers should perform their own due diligence, and consult a qualified financial adviser or other investment / financial professional before entering any trade, investment or other transaction. BITSTAMP:BTCUSD CME:BTC1! BINANCE:BTCUSDT
Editors' picks
by SquishTrade
30
This is where the recession level is. #Gold #GC #TLT #TNGold once again in history will probably tell us if we are going in full recession mode (ala 2008) or not. 1670-1680 been defended fiercely four times in the last 30 months, markets are going to see how much fear is there one more time .. heading into FED September 20th FOMC meeting. A strong daily close under that level would be the open door to something bigger than what we have experienced in the last nine month. Gold here as the sum of overall 10Y Yields, TLT, TN futures market directions. EUR and Yen of course all dependent on them.
COMEX:GC1!
by Artes_
2
SPY SPX ES / Traders Flip the ScriptHigher lows are required to provide the Flip into Higher Markets off of the Lows at the 390.85 Level. 394 is backtesting Support 399.50 is the initial Resistance. Powell Speaks at 9:10 AM EST after - 8:30 AM EST to provide both Initial and Continuing Jobless Claims. Chicago Fed President Charles Evans speaks @ Noon, followed by Consumer Credit @ 3 PM EST. "We're committed to maintaining our Policy" Note - the Markets prefer stable to lower Rates, of late... this has not been present. Should Powell provide Happy Color and TNX begins to move lower. Powell's soothing IF there is to be such 399.50 squeeze comes into the Trade. The Counter-Trend can morph into a further Squeeze and Meltup. _______________________________________________________________________ Fed Vice Chair Lael Brainard spoke yesterday providing some Flip Syde to the Tape - covering all the bases with a positive Traders uptake. Large Traders took advantage off the recent lows and began bidding SPX for the squeeze while Retail began to follow their thesis of Lower Lows and a retest of the Lows - AAII reached nearly 51%. ________________________________________________________________________ X Sectors in the S&P staged a large relief rally with the exception being XLE for obvious reasons as Crude and Oil Majors were hammered lower. Crude ended the day down 5%+ while the DX was lower on EU Rate Decision front runs. We are one week away from VIX Roll beginning and it appears there is an early retreat for Time to M2/V2 aka October. The VIX Floor remains 20.50 / 28 the pivot for Higher. VVIX in decline creates a gush of the potential onrush of VX Bids - 93.58 is the Pivot. Bills, Notes, and Bonds saw a slight retreat, even TLT saw the 20 Year Yield provide reprieve - coming off the 3.75s for 20 Year Yields (Implied). DX can pull back to 108.50. ________________________________________________________________________ Market Internals during this shortened week, Wednesday was simply more Positive then Tuesday was Negative. NYSE TICKs were sporadic and inconsistent Tuesday and Wednesday firmed the Tick. Buying activity was not purely Sellers on Coverbuys, there was newer organic buying. A positive for the Buyers (Bulls) which may digest ahead of Friday's Expiry or simply explode higher on the cross of 399.50, Bulls do not want to lose 394.00 - and the Trendline will need to provide extreme support. Apple's big event... a sleeper IMHO. New Camera - Wide Angle. Price Points that will reduce their continuing Cult of Buyers. Marginal users are simply moving to Android and away from the Apple Ecosystem. They are discovering a better Value proposition for their needs - Apple's Global Market Share continues to decline markedly. Apple needs to see 160.25 - 156.50 as the Breakup Level. Calls remain in Balance for Friday @ 51.7% ________________________________________________________________________ Let's see how Powell presents this morning, he will drive the week end finish. Good Luck and Trade Safe.
AMEX:SPY
by HK_L61
3