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Polkadot (DOTUSD): The race begins now!Polkadot (DOTUSD): BINANCE:DOTUSD For Polkadot, we are setting our entry on the daily chart for a potential Wave 2. We expect it to reach between 61.8% and 78.6% because we don't believe the correction has been completed yet. We're leaning towards the idea that we're dealing with a Wave ((a)), as a closer look suggests we're seeing a five-wave downward correction, indicative of a potential zigzag correction for the Wave ((b)). Therefore, we shouldn't see too much upward movement before another downward movement occurs. The exact turning point in Wave ((b)) remains to be seen, but our scenario is clearly set between $10.85 and $11.30. Anything above that would require a closer examination, but we should not exceed this range. Then, we should move down to $8.24 to $7.25 to complete our overarching Wave 2. For Wave 3, we then expect a rise to at least $21.65, which represents a very significant increase with a very favorable risk-to-reward ratio.
CRYPTO:DOTUSDLong
by freeguy_by_wmc
1
Lukso Soon to be listed on Uphold which is one of the few crypto onboarding exchanges that US residents can purchase coins and tokens directly from their bank accounts. This is a chart from Gate.io showing a pretty solid falling wedge pattern. In which the price action has came back down to the entry zone and is retesting the falling wedge. Falling wedge patterns have around a 70% chance of breaking bullish and have multiple ways to find targets upon breakout to where the price action will likely end up during the next extension wave. You can find the first target area by measuring the mouth of the falling wedge opening. This is the area at the top of the wedge which the upper trend line is drawn from the BODY of the candlestick on the chart. You can use a trend line to start this measurement. The second point you will want to extend your measurement trend line to is the beginning of the lower falling wedge trend line. Again, only measure from the top candle body to the bottom trend line candle body. Then you will want to grab the measurement trend line you have just created and place it on the breakout of the wedge. This is the area at the bottom of the wedge that the price action has broken above the top of the wedges trend line you have drawn like in the chart we have here. Your first target will be the top of this line. A few tips, in some occasions you will see that the measurement trend line should have been placed on the lowest point that the price action has came back down after the breakout of the upper trend line of the wedge. The best tip I can give you is this…. If the breakout (the first candle to fully breakout of the wedge and close on a higher time frame than at least 2hr unless you’re trading patterns under the 1hr during intraday trading) breaks out with heavy green volume that supersedes all of the other volume indicator candles during the time period the wedge was formed, it is very likely that the pattern breakout should be measured from this breakout area. If the volume is not at the Brest candle, you may want to measure from the lowest point that the candles retested. The only problem with this is that you cannot predict the future and will not be sure if it will retest the top of the trend line at all. Especially on lower time frames, the price action often goes directly to the target. So, choose, are you a breakout trader? Or are you a retest pattern trader? Then stick to your trading plan. Keep a trading journal and then switch to the other strategy and find out which works best on which asset you’re trading and stick with that. I often will go back and backtest the other strategy every month just to make sure the one I chose is still the better of the two. Ok, back to some fundamentals. I don’t want to make this post too long consider the majority of us that came later than boomers have an attention span of 7 seconds lol (we all need to work on this, especially doing something that can be stressful when you’re just learning how to trade! Personally, I meditate and do yoga . If you saw me you’d never guess that’s what I do to get my head right and back on track. This has increased my win rate greatly and is arguably say it is one of the most important parts of my strategy!) anyways, I’m just going to leave a link here for coin market cap so you can do your own research on this coin and a link to uphold if you’re in the states to use. Link to coin market cap, read the white paper, check out the community and the devs, what is the utility, what does the project set out to do? Do they have any partners? If so who and how big could the integration of the utility in this token get if the partners fully utilized it? All in all, learn as much as you can! Then come back here to TV and add any new related post alerts to your profile. TradingView has everything you need to do all the fundamental research also, unfortunate I am posting this from my phone and it was easier to put the link to CMC for this. I’d suggest you use TV for everything and pay for premium! It’s worth it just for the alerts! I am in no way an employee of TradingView nor do I benefit from saying this unless you were to use my link to sign up. You’re welcome to but, by no means am I asking you to! Here’s a link to uphold for all the people in the U.S. looking to get into this coin! I hope your enjoyed this post, let me know in the comments what you think!
LLong
by Crypto_Kinfolk
Is ANKER gearing up for a major move?Anker has been on a falling wedge putting in three higher lows in the W chart, and it is testing the top of the wedge once again. The important thing to watch here is the purple trend line, and purple circles. Strangely both lows of 2021 and 2022 fell on a Monday 21st just a month apart. After the purple trend line is lost, it has been on a mission to recover it. I expect a breakout out of this wedge soon to at least to test that purple line which happens to be exactly at the 0.618 fib. I do expect resistance around the 0.382 levels.
COINBASE:ANKRUSDLong
by MindPoison
23
EUR/CAD - SIGNAL / TRADE SETUP (04-MAR-23)Hello Traders; I am selling EUR/CAD right now. Entry Strategy : SMC *For those who want to follow, remember risking 1% only. Trade With Care, WAVE HUB FX ---------- Please follow me and like if you agree or this idea helps you out in your trading plan Disclaimer: This is just an idea. Please do your own analysis before opening a position. Always use SL & proper risk management. Market can evolve anytime, hence, always do your analysis and learn trade management before following any idea.
Short
by WaveHubFX
GOLD / USD; Analysis & Trading Plan (05-MAR-24)Hello Traders !! Here is my Gold Analysis & Trading Plan GOLD in term of structure has been completed. ONLY SELL setup from now on. Trade With Care, WAVE HUB FX ---------- Please follow me and like if you agree or this idea helps you out in your trading plan Disclaimer: This is just an idea. Please do your own analysis before opening a position. Always use SL & proper risk management. Market can evolve anytime, hence, always do your analysis and learn trade management before following any idea.
OANDA:XAUUSDShort
by WaveHubFX
GBP/USD - SIGNAL / TRADE SETUP (04-MAR-23)Hello Traders; I am selling GBP/USD right now. Entry Strategy : SMC *For those who want to follow, remember risking 1% only. Trade With Care, WAVE HUB FX ---------- Please follow me and like if you agree or this idea helps you out in your trading plan Disclaimer: This is just an idea. Please do your own analysis before opening a position. Always use SL & proper risk management. Market can evolve anytime, hence, always do your analysis and learn trade management before following any idea.
Short
by WaveHubFX
1
Trade Opportunity - MOON COINMartyBoots here. I have been trading for 17 years and I am here to share my ideas with you to help the Crypto space. QUICK will have have a nice move in very near future but watch the video to find out when it can moon . Very important information It has very good structure and price action , it reminds me of how many other coins set up in the last Bull market before it went parabolic and of course similar to AERO and other ALTs that just mooned Please watch the video for more information have a great weekend
Long
by MartyBoots
6
GOLD / USD; Analysis & Trading Plan (24-JAN-24)Hello Traders !! Here is my Gold Analysis & Trading Plan Gold has 2 possibilities , only BUY Setup from now, then drop from after that #tradewithcare Trade With Care, Wave IC ---------- Please follow me and like if you agree or this idea helps you out in your trading plan Disclaimer: This is just an idea. Please do your own analysis before opening a position. Always use SL & proper risk management. Market can evolve anytime, hence, always do your analysis and learn trade management before following any idea.
OANDA:XAUUSDLong
by WaveHubFX
1
Trade Opportunity MartyBoots here. I have been trading for 17 years and I am here to share my ideas with you to help the Crypto space. www.tradingview.com ACE Is a new coin and new coins have been doing very well. I am long this coin with a stop loss in place but I am looking to add to this on dips . There is very good opportunity here but listen to the video carefully and never take unnecessary risks .... The ALT Market is in its bottoming phase, be prepared. ALT Season is coming. This is the time when its possible to make life changing money . Do NOT miss out on this coming bull market
Long
by MartyBoots
2
Will the cardano/Ada rally continue? Cardano finally broke out of a long descending wedge it was in since the last high (0.67) in December. I like the fact that it held the 100sma (yellow line) twice on the daily, making a double bottom on the process. It has some resistance at the 0.382 fib, so I wouldn't be surprised if it retraced back to the top of the white trend line for a test/support. If this trend keeps going, I am expecting the 0.618 @ 0.58 as the first target, then the 1.618 @ 0.80 as the second target.
Long
by MindPoison
Bitcoin - ALL IN - Tight StopTraders, This is never recommended. For the first time, I have put 100% of my trading portfolio into Bitcoin with a tight stop preceding this supposed BTC ETF approval today. I do believe we are nearing a local top on this 3 month bull run, however, my chart shows that we still have a little room to run. I suspect 48k will be our line of resistance even though we could wick through that to go as high as 52k today. The rest will become a sell the news event IMO. And if the BTC ETFs are not approved, my fairly tight stops should liquidate and take care of salvaging too big of a loss. Entry - 43884 Target - 48237 SL - 42337 RRR - 2.8 LFG!
INDEX:BTCUSDLong
by stewdamus
1
Balaji Amines Ltd. Elliott Wave Analysis - Weekly LogarithmicBalaji Amines Ltd. Elliott Wave Analysis - Weekly Logarithmic Chart The analysis is based on a weekly time frame using a logarithmic chart for Balaji Amines Ltd. The Elliott Wave count reveals a fascinating pattern that can provide insights into potential future price movements. However, it's essential to remember that all trading involves risk, and past performance does not guarantee future results. Always conduct thorough research and consider the inherent uncertainties in financial markets. Wave Count: Wave 1 (Nov 2010): The first wave appears to have completed in November 2010, closing at 57.85. This initial bullish move signaled the beginning of an upward trend. Wave 2 ABC Correction (Aug 2013): A corrective ABC pattern followed, completing in August 2013 with a low of 28.05. This retracement set the stage for the next bullish wave. Wave 3 (Jan 2018): Wave 3 unfolded with remarkable strength, reaching its peak in January 2018 at a high price of 782. This phase demonstrated the powerful momentum characteristic of third waves. Target for Wave (3): The projected target for Wave 3 is at 10267, based on traditional Elliott Wave analysis, indicating the potential magnitude of the bullish move. Wave 4 ABC Correction (Mar 2020): The onset of the COVID-19 crash marked the completion of an ABC correction for wave 4, concluding in March 2020 with a low of 200. The market's response to the pandemic created a significant correction. Wave 5 (Sep 2021): Wave 5, the final wave of smaller degree, reached its zenith in September 2021, with the stock achieving a high of 5223.55. This completed the five waves of minor degree, establishing a primary degree (1) in September 2021. Current Scenario: Post the completion of Wave 5, the stock transitioned into a bearish phase, undergoing an ABC correction near 1880 with a retracement exceeding 61.8%. This correction suggests a significant pullback, indicating a potential change in the overall trend. Invalidation Level: The bullish scenario would be invalidated if the stock price falls below the critical level of 1880, signaling potential weakness in the overall Elliott Wave structure. Disclaimer: This Elliott Wave analysis is speculative and based on historical price movements. Market dynamics can change, and unforeseen events may impact stock prices. It's crucial for investors to conduct their own research, consider multiple factors, and, if necessary, consult with financial professionals before making any investment decisions. Trading and investing always involve risks, and past performance is not indicative of future results.
NSE:BALAMINES
by imkhushal
Elevated Inflation News Amplify Safe Haven Demand for Gold 🧈Abstract: Recent inflation data from the Federal Reserve has fueled concerns over persistent price pressures. In this environment, gold's inherent value as a haven asset stands to benefit. My open-source Adaptive MFT Extremum Pivots indicator, which can be applied across various markets, reveals support and resistance levels on the gold market. Based on these calculations, the nearest resistance zone lies around $2055, while the mathematical middle of all resistances is estimated to be around $2072. A potential trade setup involves purchasing gold upon breaching the nearest resistance level. Aim for a target price slightly above the resistance level, allowing for potential retracements. Establish a stop-loss order below the recent price consolidation zone. Alternatively, consider purchasing gold upon bouncing from the nearest support level. Aim slightly above the resistance level, again with a stop-loss order below the recent price consolidation zone. --- Dear Esteemed Readers, Fellow Analysts, I. News Catalyst: 1: Higher-Than-Expected Inflation Reading: The recent inflation data from the Federal Reserve suggests persistent inflationary pressures. Implications for Gold: 2: Safe Haven Demand Amplified: Gold's inherent value as a haven asset is further enhanced amidst heightened inflation. 3: Technical Outlook Optimistic: Gold's recent price trend and favorable technical indicators indicate potential upside movement. II. Chart Description: 1: Indicator: I've used my open-source Adaptive MFT Extremum Pivots indicator to autonomously compute the support and resistance levels. I tried to write this indicator, which you find among relevant publications, as general as I could. The gold market is only one of my choices where I deployed this script. You can try it on any of this and any other markets. If you've got feedback, I'd be happy to update what I've got or create a new branch to experiment with your unique approach. You can change the indicator without coding knowledge through the user configuration block like colors and precision (!) per the documentation I wrote. The script is "adaptive" because you'll always get a bit of different data on the same market depending on the moment you use this indicator. But that's good because you can monitor the data velocity between time points with this knowledge. As I mentioned, the script is general and in the following, I'll explain how it helped me to write this particular analytics on the gold market. 2: Data Explanation and Chart Elements: You can find the script's window in the bottom right corner of the chart. As you can see in the center of the table, the Pivot point is about $2044.948. The script computed this data from a monthly timeframe. In the upper half of the window, you find the monthly high ($2075.430), monthly low ($2033.940), weekly high ($2148.990), and weekly low ($2020.135) values on this market. The latter two data came from a weekly timeframe. So, you can consider this analytics to be a Multi-TimeFrame Analytics (MTF or MTFA, see the keywords. S1, S2, and S3 mean three support levels (green lines on the chart) and R1, R2, and R3 mean three resistance levels (red lines on the chart). I named the levels according to their distance from the pivot point. S1/R1 are the closest and S3/R3 are the most distant levels. The actual price is $2033.050. The price's a bit below the pivot point, which could be a bearish signal. In this context, however, I'd call it a retracement because it's above the double support levels of $2020 and $1998. The third support level is around $1971. If you remember my messages from the chat, you know I estimated the support zone around $2000, see the green zone on the chart, which aligns with the mathematical middle level of the support levels. I believe these computations could make a bit of sense because if you look to the left of the chart, you'll see how the price bounced repeatedly from either of these supports or got rejected at either of these resistances. I'd point out the interval between 19 April and 02 May 2023 to observe these price actions. With the price consolidating above all the support levels, I'd estimate an attempt to breach the resistances. The nearest resistance is around $2055 while the mathematical middle of all the resistances is around $2072, see the red zone on the chart. If the positive news persists on the market, I estimate the price could reach as high as $2055 (R1), $2087 (R2), and $2098 (R3). You find all these data with higher precision in the bottom half of the script's window, the bottom right corner of the chart. The dotted arrows depict various price scenarios that gold could follow. The more pronounced the bullish momentum, the less retracement we can expect. In the most optimistic scenario, gold could reach resistance R3 from its current support levels. However, if demand weakens, the price might briefly dip to support S2 or even S3. Still, a breakdown below S3 would be necessary to invalidate the bullish trend. As long as the bullish trend remains intact, resistances R1 and R2 remain attainable targets. Below, I propose some possible positions according to a support/resistance strategy. You can interpret the market in various ways and the sentiment dynamically changes. That's why I made the script adaptive. You can load to your chart any time and see the market dynamics. Furthermore, I'm open to all confirmation, conflicting, extending, or questioning opinions of yours. III. Trade Setup: Entry Point: Consider purchasing gold upon breaching the nearest resistance level. Target Price: Aim slightly above the resistance level, allowing for potential retracement. Stop-Loss: Establish a stop-loss order below the recent price consolidation zone. And: Entry Point: Consider purchasing gold upon bouncing from the nearest support level. Target Price: Aim slightly above the resistance level, allowing for potential retracement. Stop-Loss: Establish a stop-loss order below the recent price consolidation zone. IV. Risk Disclosure: Please note: This is solely a speculative outlook based on current economic developments and does not constitute investment advice. Trading in financial markets carries inherent risks, and past performance is not indicative of future results. Kind regards, Ely
OANDA:XAUUSDLong
by Elysian_Mind
3