NZDCAD AAD bullish If you take a look at the chart it shows that perfect sample of DOW theory, when the trend breaks out the previous high point and makes the new higher low point, then it might be the sign of that trend has been reversed but we cant open a position immediately. It is always better that we wait until the price comes back to the trendline and check the resistance (it gives us the opportunity that can open a position with higher R&R ratio plus much safer trade.
Trendreversal
BTC-DOUBLE TOP TARGET @ 41'108 FILLED !The technical target (41'108) of the double top formation mentioned yesterday in my previous analysis has been filled (intraday low @ 41'077).
Yesterday's price action, third black candle in a row is confirming the expected trend reversal.
The BTC is currently , roughly in the middle of the DAILY CLOUDS SUPPORT AREA, close to the MID BOLLINGER BAND @ 40'729 ahead of the CLUSTER
of KS and TS, respectively @ 40'087 and 39'828; the latter level also coincides with the 50% Fibonacci retracement of the 34'324-45'332 recent rally.
VERY IMPORTANT TO NOTE THAT THE BOTTOM OF THE DAILY CLOUDS CURRENTLY @ 39'565 IS SLIGHTLY BELOW THE TENKAN-SEN AND SHOULD BE SEEN AS
THE MOST SIGNIFICANT SUPPORT LEVEL IN THIS DAILY TIME FRAME.
Indeed, A FAILURE TO HOLD 39'565 on a DAILY CLOSING BASIS , would weigh further on the BTC and would open the door for much lower levels towards
the former congestion support area around the 37'000 level.
RSI is still above 50, @ 51.22... but converging to the downside.
LAGGING LINE is below the clouds and close to the Tenkan-Sen.
A sustainable recovery above 42'524 (top of the daily clouds) would neutralise temporary the ongoing downside risk.
4 HOURS (H4)
Below :
1) The Mid Bollinger Band
2) The Tenkan-Sen
Currently attempting to breakout the Kijun-Sen support.
A breakout of the Kijun-Sen (@ 41'400) , on a H4 closing basis, would add further selling pressure and would put the focus
on the H4 CLOUDS SUPPORT AREA, CURRENTLY BETWEEN 38'000 AND 37'340
RSI below 50 @ 42.36, converging to the downside
LAGGING LINE still above the clouds, Tenkan-Sen and Kijun-Sen.
1 HOUR (H1)
Below :
1) the clouds
2) the Kijun-Senb
3) the Mid Bollinger Band
4) The Tenkan-Sen
In this time frame, next support to look at is @ 40'192 (61.8% Fib ret of the last move from 37'015 toward 45'332 ahead of 38'794 which is
the 78.6% Fib extension retracement.
RSI below 50, @ 27'98, converging to the downside, no bullish divergence yet.
LAGGING LINE is currently attempting to breakout the H4 clouds bottom level @ 41'225.
CONCLUSION :
As usual watch an monitor very closely intraday shorter time frames price action which will firstly validate or invalidate the implications previously mentioned in longer time frames and secondly
those shorter time frames will give you clues regarding potential BULLISH DIVERGENCES which if seen should be used as a TACTICAL TRADING OPPORTUNITIES and therefore MANAGED WITH A DISCIPLINED
RISK MANAGEMENT APPROACH (Risk Reward Ratio depending on your time frame !)
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Have a nice day
All the best and take care
Ironman8848 & Jean-Pierre Burki
SHOP YEARLY 22 REVERSALWe are seeing most of the big names of 2020 head back to their pre-pandemic prices. $SHOP has triggered a 22 reversal on the yearly chart. My final pt is 305.30
Until then I'd hold off on dip buying. As you can see it's already down by $1000 from ATH and -53% on the year.
Refer to the strat combo sheet to see which set up I am referencing.
I'll forewarn that most of my charts will have bearish reversals with a select few having bullish set ups
Reversal Signs in Palm Oil Market?Market closed slightly higher at 5573 last Friday after tighter range move.
Some key factors continue to weigh on palm oil prices:
1. Indonesia had expanded its export permit requirement for palm oil products where exporters must sell 20% of their exports at home and with price cap to other derivatives. This further raising fears of global supply disruptions. The regulation valid from Feb 15.
2. Latest Malaysia Palm Oil Board data showed lower inventories and production due to labor shortage and flooding; lower exports due to rising palm oil prices
However, analysts’ expectations that current high price not sustainable
3. some participants expecting production to pick up in March as Malaysia Government targeting full scale reopening of international border
4. . Soybean oil continued uptrend, as LaNina brought in hot weather across key South America growing areas and strong demand on US soybean
5. Strong crude oil prices amid ongoing worries about supply disruptions from the Russia and Ukraine crisis
Technical View:
1. Market uptrend paused with hanging man formed at resistance level of 5750, indicates reversal signal
2. Stochastic reached overbought level and K% line is crossing down which signalled reversal signal
We expect market may have short term retracement if market unable to stay above 5500.
Suggestion Trade:
Short if stay below 5365
Target Stop Loss (resistance level) 5478
Target Profit (support level)
TP1 5252 TP2 5026
Long if stay above 5685
Target Stop Loss (support level) 5572
Target Profit (resistance level)
TP1 5798 TP2 6024
AAPL, Can become the market savior? Can Apple become the market savior? Is it able to help the panic to be over? Lets follow !
Previous Monday we saw the large money inflow by hedge funds which pushed it back to positive territory after near 5 % fall in NDX 100 , then panic returned to the market after J erome Powell's speec h and finally exceptional earning report of Apple brought the positive sentiment back to the market ! Can Apple continue the bull run? Lets follow !.
After making a new ATH at 182.9 and exceeding the 3 trillion USD market cap , AAPL started a corrective ABC from of decline down to 154.70 low where it found a support which was really strong. As shown on the chart, this strong support formed by : 0.382 Retracement of wave 3 , 0.618 Retracement of circled wave V and static support corresponding to top of circled wave iii . We can add also 100 days moving average to see the support even stronger.
In broader view, AAPL is possibly completing wave 5 of a wave cycle started at 103.1 on 21th Sep 2021 . This final wave 5 may push the price up to around 200 USD . Going through details of this wave cycle, We find out we have an extended circled wave v of 3. This wave 5 extension happened for many other stocks like MSFT and AMD and indexes as well.
In upper left side of the chart, I showed a schematic drawing of an extended wave 5 and it's typical related Retracement amount and pattern. As it is clear , Apple beautifully resembles this pattern . Another supportive point for the analysis !.
What is shown on the chart, is normal scenario. There may be some more optimistic and pessimistic scenarios whit higher and lower targets but, We just kept them away from the chart to make it clean. Should it need any update, We will do it later.
Stochastic indicator has made a bullish reversal at oversold zone , Body of last candle well closed above the down trend line and is now inside the territory of decline form ATH to 168.17 which may be wave A of the possible ABC form of correction which is another positive sign.
Despite all above positive and bullish signs , AAPL may choose completely different path than we are expecting therefore, we have to set our stop loss objectively ( Which is the last formed low at 154.7) and stick to it . We know after an ABC form of correction, Stocks can take many various complicated forms.
We do not know how market continues it's path however, we can see the signs, make our analysis and take a position. If somebody fears of taking a long position ( of course with an objective stop loss) for this setup because of bad news everywhere or panic , he/ she would better to leave the world of trading. Risk is always is with us in trading and the best thing we can do is to manage our risks.
Good luck every one and wish you huge profits.
Watch COIN - buy calls for pre-earnings riseThis is an update to previous chart (linked). I am looking at strikes between 250-280, 18Feb expiry. Price should drop into "buy zone" if cryptos crash (this week).
The red dotted line is also marked on previous chart. I think buyers will rush in and move price back over the line, and I do not know if price will actually come all the way down into the buy zone. So if on 30m chart I see signs of bottoming or trend reversal, I will buy a small call position. 18Feb expiry - using less capital - gives me time and comfort to hold for an upwards reversal.
UK100 H4Identifying a reversal, we have 2 patterns here. First the double top that occured as price failed to break the all time high, along with a breakout of the rising channel. Watching the lower timeframe for slight retracements & a bearish continuation.
EURUSD & US dollar Index (H4)On the top chart, price has cleared through support that has been holding for some weeks now for the US dollar. Current trend is making lower lows & highs as well. I am looking for the DXY to form a lower high & retest broken support as new resistance, where I will be looking for price to resume the downtrend for a new potential lower low.
Vise versa with EURUSD, price last week cleared above the resistance structure of the downtrend that has been holding for some weeks now, forming a higher high & breaching the descending trendline. I will be looking for EURUSD to retest previous resistance as new support, forming a higher low. After proper confirmation at the zone of interest, I will be going to the lower timeframe (2 hour timeframe), to look for signs of a reversal that EURUSD will resume the current uptrend for a new potential higher high.
Thank you to all my supporters & lets have another great week ahead! :)
BTC trend reversal, BTC scenario I'm expectingI expect BTC sideways action between 39.5-53K ranges by 2022 March. Then I expect BTC rally.
At this very moment I'm watching the scenario I posted in this chart. I think BTC has bottomed at 39.5K/maybe, but less likely one more touch to that point/.
As you see, Double bottom pattern is a reversal pattern. And BTC did it when dumped to 39.5K on on January 10th 2022. It was September low and our double bottom.
In coming days I expect Mini double pattern plays out and causes to falling wedge breakout with retest. The blue line shows the path I think BTC will follow.
What about coming death cross, I think it will be fake out.
MACD bullish cross with the pump is coming))))
GBP / USD 1.35754 - 0.07 % SHORT IDEA * PRICE ACTION & STRUCTUREHELLO EVERYONE
HOPE EVERYONE IS DOING GOOD HAVING A GOOD ONE, HERE'S A LOOK AT POSSIBLE SCENARIOS THAT COULD PLAY OUT IN THE COMING WEEK ON THE POUND / DOLLAR PAIR.
* The PAIR is currently trading in an descending channel but seems the channel now consolidating in a ascending channel within this structure.
- Short term the pair has currently entered an up trend as WE broke above on the 4h chart.
- There is a supply zone that the pair is currently testing as we see the formation of a double top in this area.
- Looking for SHORT entries on the pair this week should all the rules of the formation be met.
lets see how it goes
IF THIS IDEA ASSISTS IN ANY OR IF YOU LIKE THIS ONE
SMASH THAT LIKE BUTTON & LEAVE A COMMENT.
ALWAYS APPRECIATED
____________________________________________________________________________________________________________________
* Kindly follow your entry rules on entries & stops. |* Some of The idea's may be predictive yet are not financial advice or signals. | *Trading plans can change at anytime reactive to the market. | * Many stars must align with the plan before executing the trade, kindly follow your rules & RISK MANAGEMENT.
_____________________________________________________________________________________________________________________
| * ENTRY & SL -KINDLY FOLLOW YOUR RULES | * RISK-MANAGEMENT | *PERIOD - SWING TRADE
Bitcoin lost the 46k support, now tests the 40k support region!First of all we stay macro bullish and believe in the blockchain technology that is the underlying technology of crypto currencies.
Therefore we have a bullish bias but still try to give you an objective overview.
Bitcoin tests the 40k region support indicated by the dark green line.
We are currently in a downtrend and lost the crucial 46k support where also the 200MA could have acted as support.
A potential deathcross between the 50 and 200MA is looming and the overall volume keeps dropping.
All this is very bearish.
On the flipside we have an RSI around 30 and a fear and greed index that points to extreme fear for several weeks now.
This more often than not indicates a trend reversal.
Also 40k is a well respected level considering the last 360 days.
So could we go lower? Of course!
But we believe that enough blood has been spilled and that we will see an uptrend within the next weeks to come.
Keep in mind that often times we feel doomed or the opposite invincible, this is the time we are wrong and reversals happen.
So ask yourself how you feel and what it means.
Feel free to comment or ask anything you like.
Always do your own research and keep in mind that my charts and comments cannot be considered financial advice.
Cheers
Ctumbler
EURUSD Bearish Divergence and Shorting Chance Hi
as we can see this pair had shown a Bearish Divergence with MACD which is a sign of reversal and bearish trend to start and fall of Euro which i have specified it with Blue Arrows on MACD and Price
i have used Fibonacci Retracement Tool to forecast its fall and Specified the Fall Depth with a Green TP zone
i have also specified a SL line around 1.25 which is a good enough renege zone and free play space for the upcoming Fluctuations if any
please comment your ideas and opinions
US10Y-D1/W1- TREND REVERSAL CONFIRMED !TREND REVERSAL CONFIRMED ON THE DAILY CHART !!!
Price action, acceleration upside move, seen over the last couple of days confirmed the trend reversal, calling for higher levels.(Pullback failure attempt)
Indeed, the former daily downtrend line resistance has been broken and has also been confirmed by the Chico.span price action.
RSI above 50 @ 69
Only a clear breakout of the 1,5950 would put in danger the expected bullish (yield) scenario.
WEEKLY (W1)
The weekly downtrend resistance line in progress to be broken (confirmation would be given on a weekly closing basis tomorrow and also by the closing level of the Chikou-span which is currently in progress to also breakout this downtrend line resistance.
Ironman8848 & Jean-Pierre Burki
A BULLISH MOVE IS BEING EXPECTED IN CARERATINGCARERATING seems to look positive on the chart, currently at around 615.
It is being expected that the stock can initially face a Resistance at around the levels of 651, 678 and 720. Whereas on the downside levels, it can face a support at around the level of 602 on a closing basis.
Disclaimer: No financial information whatsoever published here, should be construed as an offer to buy or sell securities, or as advice to do so in any way whatsoever. All matter published here is purely for Educational and Information purposes only and under no circumstances should be used for making investment decisions. Viewers must consult their personal financial advisor before making any actual investment decisions, based on information published here. Any Investor or Trader taking decisions based on any information published here, does so entirely at its own risk. Investors and Traders should bear in mind that any investment in Stock Market is subject to unpredictable market-related risks.
Bullish Engulfing PatternGood Morning!
What a great weekend! Futures opened with a slow melt up to an overnight high of 4723.25.
The daily formed a Bullish Engulfing Pattern.
Day2 opened lower than Day1 Close
Day2 body engulfs Day 1
Day 2 Bears controlled price in morning
Day 2 Bulls decisively took over price into close
White has small upper wick, price closed near its high price suggesting EOD price surge.
I'll be cautious of Trend Reversal around the pivot 4704/4705.
With FOMC on Wed and Quad Witching on Friday
There may be enough Sell pressure to form several black candles over the next few days signaling a Trend Reversal.
Gamma/Derivative experts confirm a new gamma floor around 4700 on Dec 8th suggesting we are in the left shoulder of a larger H&S pattern that could form with a strong xmas rally into the new year.
Vanna flows continue to be strong in the mornings providing the needed liquidity to create big movements up and down.
This suggests using large stops as the price will continue jolt up and down (as it just did at around 6:40am this morning).
This week I plan on studying more Order Flow and will begin to include some levels in the days to follow.
As always, Hope for the Best, Plan for the Worst!