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OMG Possible Long Setup#OMG 🚀 Big Picture Price Update: January 21, 2024 Good news for OMG! It broke out of a downtrend and is now on an upward trend. In the long run, it could reach 6.27$. Here are some positive signs from the chart: A rising 20-day average, suggesting bulls are in control. A bullish divergence between price and RSI, showing momentum for the bulls. A bullish Engulfing pattern on the daily chart, indicating bullish control. According to Elliott Wave theory, OMG might be in the early stages of a five-wave uptrend. This could mean another rise to $1.00 or even $1.50 before a wave 3 correction. Key levels to watch: Support: 0.8278 (breakout level). Resistances: 0.9000, the 50-day average. Overall, the OMG chart looks bullish. Traders, keep an eye out for buying opportunities at 0.725 or lower. Quick thoughts: Breaking out of the downtrend is a big deal. Bulls seem to be taking over. Bullish indicators on the chart are promising, suggesting the uptrend may continue. Remember, Elliott Wave theory is a tool, not a guarantee. OMG's actual movement depends on various factors. Specific to Elliott Wave theory: Wave 1 of the uptrend might end around $1.00. Expect a Wave 2 correction to $0.8278 or less. Wave 3 could then take OMG to $1.50 or higher. Remember, this is just a possible scenario.
OLong
by ML-Master
Invest in Bitcoin: Analyzing Market with Fibonacci PitchforkAre you considering investing in Bitcoin but unsure of the best time to do so? The past few years have seen a bear market for cryptocurrency, but it's important to remember that markets are cyclical and that prices will likely rise again. One of the best tools to analyze market trends and predict future price movements is the Fibonacci Pitchfork. This tool uses trendlines to identify support and resistance levels and can also be used to project future price movements. According to the Fibonacci Pitchfork, we are currently in the bottom territory of the trend for Bitcoin, which suggests that now may be the perfect time to invest. There is potential for significant price appreciation in the coming months. If you're willing to hold for the long term, this could be an excellent opportunity to get in at a low price. Don't miss out on the potential for significant returns on your investment. Best of luck.
BNC:BLXLong
by Majnoonu
EURO - Price can decline a little more and then start to riseHi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊 When price entered to rising channel, it first declined to support line and then at once bounced up to $1.0725 level. Then EUR broke it, but at once made correction below, after which broke this level again and continued to move up. Next, price reached resistance level, which coincided with resistance zone, but at once Euro made correction. After this, price made strong impulse higher than $1.1010 level, and soon it declined back to support line, making fake breakout. Also recently, EUR broke support line, thereby exiting from rising channel, and now price trades below this line. In my mind, Euro can decline a little more, and then it start to move up to $1.1010 resistance level. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Long
by WalterMoon
2
DeSo - DESOUSDT - Ascending ChannelGreetings, DeSo is one of our favorite coins for the upcoming bull run and it has been performing to justify that! Currently it is in an ascending channel and trying to break out above. Previously $40 was a resistance but within the channel $40 has now become a support based on accumulation during past few days. With Bitcoin ETF distraction now over, DeSo looks ready to grow. Once it crosses the $50 threshold, next few jumps should be faster until we get to $100 which will be a psychological resistance. Please FOLLOW to stay up to date! Note: This is not financial advise and shall only be used for educational and/or entertainment purpose. Please do your own research before investing. Crypto Markets are highly volatile and you are responsible for the risk of losing your entire investment.
DLong
by figuring_out_the_dream
Bitcoin(BTC): We Getting Ready For Another Drop!While Bitcoin has had some moody moves with a punch of quick up and down moves (on a smaller timeframe), we are seeing a nice small correction that has happened on Bitcoin, where currently we are again seeing weakness at the beginning of this day. As we are back in our upward tunnel and yet we did not fully re-test those upper zones, we might see an early downward continuation of the movement. Eyes are open, for sure, here. Many have been asking about the "bullish movement." As of now, we are not seeing any good reason for bullish movement to happen!
BITSTAMP:BTCUSDShort
by SwallowAcademy
2
NZDCAD - Range BreakoutNZDCAD has been ranging since December 2023. More specifically, this range formed in early December (of 2023) when price failed to form a new higher high. I've been monitoring this pair on and off. While I have observed previous fake breakouts, or fakeouts, I would say the confidence level that this latest breakout holds is much higher. This comes down to one simple reason - today's close. The bearish bar was strong and cleanly closed below the lower range boundary.
Short
by FinancialGamblR
1
GOLD, will CPI news confirm the downtrend?Hello everyone, after a predicted pullback from 1980 area Gold reached it's highest point at 2088 and turned bearish again. To be honest I didn't expect the move to extend so high, but these things can happen. Finally it's likely that Gold topped out wave B at 2088 and started wave C with the main target at 1920. So far nothing new (check my latest analysis). How will CPI news effect Gold tomorrow? There is no clear answer to this question, as we have to observe the next move of the dollar, which started a slight counter trend. If it will break over the local resistances formed within the last days, Gold will fall further. Important levels for Gold Resistance area: 2040 - 2050 Support areas: 2000 - 2010 and 1970 - 1980 Elliot wave analysis If wave C started at 2088, we probably have seen most of the first wave down, which you can see in red on the chart. I don't see an impulsive decline, so this scenario is quiet likely. The exact position for the subwave count are always hard to figure out, so please look for confirmation before you make a trade. Trade idea Sell 2032-2040 with TP 2010 and SL 2051 Buy 2000-2010 with TP 2030 and SL 1998
FOREXCOM:XAUUSDShort
by Kyrean
BITCOIN - Price can make retest of support line, and bounce upHi guys, this is my overview for BTCUSDT, feel free to check it and write your feedback in comments👊 Recently price entered to flat, where it tried to rise, but a short time later declined to $41600 support level. After this, BTC some time traded near this level, which coincided with support area, and then bounced and started to rise. Price rose to resistance level, but at once bounced back and then made strong upward impulse to resistance line. Also, BTC exited from flat, breaking $45800 level, but soon price bounced from resistance line and made impulse down. When price declined to support level, it broke $45800 level one more time, after which BTC bounced up and broke resistance line too. Now, I think Bitcoin will make retest, after breakout, and then continue move up to $44700 If this post is useful to you, you can support me with like/boost and advice in comments❤️
Long
by WalterMoon
3
Trends to finish this week and into next weekStill sitting short at 4805, at the time of recording I was slightly in the negative, but since we have pulled back down as expected and I'm in a profit zone. The trends are well explained in the video, but most important takeaway is that a new 4hr downtrend coming in below 4808 will signal a lower low, as will a 6hr downtrend coming in below 4759. These two movements would open us up, in accordance with trends, to further movement down. Trends are as follows; Last Macro Trend Signal Spots (ES Contract) 30m - 4817 Uptrend (1/12/2024) Higher High 1Hr - 4807 Downtrend (1/11/2024) Higher Low 2Hr - 4790 Downtrend (1/11/2024) Lower Low 3Hr - 4790 Downtrend (1/11/2024) Lower Low 4Hr - 4770 Uptrend (1/8/2024) Lower High 6Hr - 4797 Uptrend (1/8/2024) Higher High 12Hr - 4762 Downtrend (1/3/2024) Higher Low Daily - 4378 Uptrend (11/3/2023) Higher High Weekly - 4769 Uptrend (12/11/2023) Higher High Economic Data; PPI is today, I don't see it have a major weight into the market though as we had CPI, which weighs more heavily, yesterday. Geopolitical; US and British forces hit Houthi targets, furthering tensions in the Middle East. This is why Oil has rocketed up 4% thus far on the day. The higher oil goes, the more that price could bleed into inflation, and also the tension could cause some concern for supply-chain issues. Side Note; I did go Long on two ZMZ24 (Soybean Meal for December maturity) contracts yesterday at 360. I plan to hold until around 370 and evaluate further to see if they will reach the 'predicted' target of 401. I do not trade Soybean products often, it is more of a oversold historically position than a knowledge of how Soybeans work. My sentiment going forward in the ES Futures Market is; Shorter Term - Bearish Short Term - Bearish Medium Term - Bearish/Neutral Long Term - Bullish Safe trading, and as always, remember your risk management plan.
CME_MINI:ES1!Short
by SemperTrader
AUDJPY - Keep It Simple 👌Hello TradingView Family / Fellow Traders, 📈 AUDJPY has demonstrated an overall bullish trend, trading within the rising broadening wedge pattern in blue. Currently, AUDJPY is sitting around the lower bound of the wedge. Moreover, the 96.5 serves as a robust demand zone. 🎯 Therefore, the highlighted blue circle signifies a significant zone to consider for potential buy setups . This area is noteworthy as it marks the convergence of the green demand and the lower blue trendline, acting as a non-horizontal support. 📚 In accordance with my trading style: As AUDJPY is sitting around the blue circle zone, I will actively search for bullish reversal setups to capitalize on the anticipated next bullish impulse movement. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Richard Nasr
Long
by TheSignalyst
GBPSGD - Monitoring the Weekly Swing Trade OpportunityGBPSGD's weekly price action appears cleaner than most of the other pairs I've been watching. Looking at the key levels, it appears that price is gradually recovering from the selloff initiated in mid-July. The last higher-low bottom out was in mid-October of 2023. The latest higher-low formation and breaks the upper range boundary. It's also a stronger indication given the moving average confluence; right now, the faster EMA-20 is picking up pacing in its divergence against the EMA-60. While this isn't a clear indication to bet on the upside just yet, I do think this pair is a strong contender to watch.
Long
by FinancialGamblR