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NIO: Trading in a Critical Support Level! What to expect next?• NIO is in a critical key point right now, around the support level of a Bearish Flag chart pattern; • Since last week, NIO has been dropping while the volume was low, a sign of weakness; • If NIO triggers this bearish flag, it’ll resume the bear trend and the next technical support for it would be the purple trend line in the weekly chart, below the $8; • In order to avoid such bearish scenario, NIO must react as soon as possible, and do a bullish sign above its support in the daily chart; • Only if NIO breaks this Flag Pattern upwards I see it reversing the bear trend; • For now, let’s pay attention to these lines. NIO was a great stock to trade a few weeks ago, but for now, I’m cautious and I would wait for a clear sign before assuming anything, Remember to follow me to keep in touch with my analyses!
NYSE:NIO
by Nathan_The_Finance_Hydra
1
Easy Order Block Setup On EUR/USD – Major Bias Still ShortI see a possible Order block short setup on EUR/USD in the 4-Hour Chart. Last week, I suggested that the major 4-hour support has been tapped multiple times. We were speaking about how lines of support eventually break if the price keeps tapping the same price point. Well, we have seen a breakthrough. Now, we need to be careful of false breakouts. We have a descending trend line acting as resistance and we have seen multiple order blocks succeed in the past few weeks for EUR/USD. Taking all this into consideration as well as the fact that our bias is still bearish, we have reasons to look for further short entries. I have highlighted the order block zone in yellow. I always look for the most recent bullish candle before the price impulsively breaks to the downside. We can see that this particular order block entry lines up nicely with the descending trend line. We must beware of false breakouts. As we are so close to broken support, I would not risk my usual one percent or so on this setup. I would risk half of that. I would grade this particular setup as a grade B setup. We have all our requirements, rules and criteria met. However, because we are so close to broken major support and we do have strong bullish volume, this concerns me. So whilst I would trade this just like any other order block, my lot size would be smaller and my risk would be less. I am waiting for the price to push back up into the yellow order block zone. I always aim for a minimum risk to reward of one to two, or one to three. My stop loss would be placed a few pips above the high of the order block zone. My entry would be somewhere in the middle of the order block zone. My target would be the previous price structure which is the broken support level at the 0.991 price point. This is just one possible setup out of many. If this setup hits my stop loss, I'm perfectly ok with that. I simply move on to the next one. Remember, trading is a game of probabilities. We don’t know which way the dice are going to roll. However, if we know that if our edge wins a certain amount of times out of a hundred, then we know that eventually, sooner or later, we will come out on top and in the green. I hope you all have a great Wednesday. The Vortex Trader
Short
by TheVortexTrader
4
SPX500USD new lows? Evening folks. Ive been looking at these charts for a few weeks now and it looks like we are setting up to hit previous lows or possible new lows. As you can see we have bounced of the resistance trend line which seems to be a pretty strong resistance. We've had price break below the cloud which is part of my ichimoku strategy. What im waiting for are the red cloud to appear and the lagging span to break the cloud and we have a trade on our hands. You can also see we have long wicks above the bodies of the previous daily candles which suggests that the buyers are losing control and bears are gaining strength. I think we could see prices reach 3650 or break just below it, have a small reversal then head lower to perhaps 3500 area. Its been a pretty volatile market though so trade safe and trade smart. cheers shaun
OANDA:SPX500USD
by Shealy
TSLA looking weak SHORTTSLA is continuing to trend downward while China is melting down and the TSLA giga factory is underproductive. The chart shows a fall from the upper trendline of resistance confirmed by the MACD lines flipping above the histogram. Targets for the trade are the mid-range Fibonacci levels in the retracted of the up trend so about 258 and final take profit heading towards all earnings where the current trendline hits the horizontal support at about 205 about October 1st. Stop Loss nominally at $10 above the current market price. Accordingly expecting a reward to risk of more than 5 to 1. All in all, the short setup or put options appear to be an excellent setup, The best question is whether others in the sector are following the market leader and dropping even faster or instead, are they holding up better because they have less China exposure
NASDAQ:TSLAShort
by AwesomeAvani
NIFTYHello and welcome to this analysis on NIFTY From the high's of 18600 made in October 2021, every pullback leg of Nifty has been approx 88% 18350 on 18 Jan 2022 was 88% of the decline from 18600 to 16410 18115 on 4 April 2022 was 88% of the decline from 18350 to 15670 The current rally is at 78% of the decline from 18115 to 15185. So what lies ahead, lets try to decipher probable scenarios 1. 88% retracement is near 17765 that coincides with the falling trend line - History repeats itself, rally ends near it, "tata, bye-bye, see you Longs." 2. It will breach above the falling trendline and continue its rally towards 18400 at least - Bull party continues, almost everything from A to Z eventually moves up, everyone (except those looking for a pullback and/or short) are happy! 3. It has completed its pullback and will do a pullback/resume downtrend, earliest confirmation as of today would come once it starts sustaining below 17375. - Just when everyone was hopeful that stocks are coming closer to their purchase cost, those stocks which have made us FII - "Full Invested Indians", because we bought them at very high levels and exiting in decline would have cost a huge loss, so holding onto these till .... ! PS This is not for Investors, this is for traders who become forceful investors in stocks where exit did not happen. Until then Happy Investing & Safe Trading
NSE:NIFTY
by Dinesh_C_Nagpal
Aug 2022 WTI CRUDE OIL at Inflection PointThere are a few things to note with WTI Crude this morning. -On a Daily chart, it is still in a Primary Uptrend: (The Primary trend is inviolate, i.e., cannot be manipulated. This is the longest-term trend and can last years) -On a Daily chart, it is still above the Ichimoku Cloud. -On a Daily chart, it is still above the Primary Up Trend Line, and is bouncing off of a previous Down Trend Line. .682 Fibonacci Retracement still holds, as we have not closed below it. (Today's session will decide this) Feel free to reach out with any technical analysis questions! - Paul Wankmueller CMT Blue Line Futures Futures trading involves a substantial risk of loss and may not be suitable for all investors. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
NYMEX:CLQ2022Long
by Paul_Wankmueller