TSLA Approaches Major Resistance and May Stall into July 21Primary Chart: TSLA on Weekly Time Frame with a Downtrend Line from the All-Time High and Fibonacci and Measured-Move Levels
Preliminary Comments
TSLA is poised to stall soon, perhaps into July 21. By definition, a stall does not necessitate a crash or major trend reversal (at the primary degree of trend). A major reversal downward (crash) is always possible especially once shorts have been decimated—major downward reversals seem to always wait for clearing out of hedging and shorts, right?
Although a major trend reversal could occur here given major resistance levels just overhead on higher time frames, no one has a crystal ball. Finding the time and price components of such a major reversal can be exceedingly difficult (note the conclusion section of this article about probabilities).
And no one who were to have a crystal ball that worked properly would share it. And a securities regulator would be sniffing around for insider trading for sure with too many trades lining up too perfectly especially before major news catalysts. Humor aside, trying to be too clever by calling the exact top is a misplaced endeavor. But it can be prudent to analyze the charts and consider the idea of vulnerability for a trend’s continuation in the short-to-intermediate term, i.e., whether the move might encounter major resistance that could at a minimum cause a mean reversion or retracement of the recent rally .
Trend Analysis
The charts don’t lie. TSLA’s intermediate-term trend since January 6, 2023 remains upward. Similarly, short-term (2-6 weeks) and intraday trends remain upward. But the primary trend is still arguably sideways when considered over a 2-3 year period, while the secular trend since 2010 arguably still remains firmly upward.
1. Secular trend (since 2010): uptrend
2. Primary trend (since 2020/2021): sideways trend (range)
3. Intermediate / secondary trend (since early 2023): uptrend
4. short-term trend: uptrend near crucial resistance
5. intraday trends: uptrend near crucial resistance
Supplementary Chart A: Primary Trend
Supplementary Chart B: Secular Trend
The intermediate term trend has run fast and furious for 1H 2023 (since the Jan. 6, 2023 low). That alone is not enough to expect a reversal. Shorting something merely because it seems to have risen too far is a well-known trading mistake comparable to catching a falling knife in a downtrend. Shorting powerful uptrends is not an easy way to make a living.
But several charts suggest vulnerability for TSLA’s rally at this level. This comes right as earning will be reported this week along with a major monthly options expiration on July 21. Earnings reports like TSLA's upcoming one present a binary risk event that could stretch prices significantly in either direction, or it could a whipsaw price in both directions before settling on a final directional move (see the section below titled “Trend vs. Fundamentals.”)
Supplementary Chart C shows that TSLA’s price is nearing a crucial Fibonacci level on a linear chart. This is the 61.8% Fibonacci retracement ($299.05) of its entire decline from its all-time high into the early January 2023 low. Coincidentally, this level shows confluence with other important resistance levels shown on the chart such as the down trendline from the all-time high. (Some prefer Fibonacci levels adjusted for a logarithmic chart, which is not shown. The next relevant upside Fibonacci level on a log chart, however, is the .786 of the entire decline at $306, which is not far from the .618 level at 295.05.
Supplementary Chart C
If the .618 Fibonacci retracement is overcome and held (not just a false breakout), this suggests prices may run higher to at least $314.67 or the next higher Fibonacci level at $347. But these are upside levels conditioned solely on the .618 retracement being overcome and held.
Next, consider the down trendline from TSLA's all-time high. This is being approached at around $300, right were significant call OI exists. Trendlines can be somewhat rigid measures of trend, but they can provide some value especially when other support / resistance levels coincide with the trendline. The down trendline from TSLA's all-time high runs right into the measured-move zone, shown by the blue circle on Supplementary Chart D.1.
Supplementary Chart D.1
Some traders prefer to look only at logarithmic charts, though here it doesn't add much to the technical picture since the trendline is quite close to where it lies on the linear chart.
Supplementary Chart D.2
Finally, some bearish divergences in momentum and price/volume indicators suggest that price has become quite stretched right at a time when TSLA has reached some major resistance levels. Supplementary Chart E shows the Elder Force Index (EFI), a useful indicator that displays a combination of volume and price, weighing the extent of each price change along with the extent of volume. It tends to pick up divergences in the "force" or commitment behind a move with more sensitivity than RSI or other common momentum indicators, but with increased sensitivity often comes more noise (more false signals) which can be helped to some extent through indicator adjustment. Nevertheless, here is what that indicator shows for TSLA on the daily timeframe:
Supplementary Chart E
As TSLA has made higher highs, it has done so with less force and commitment for each high, creating a divergence between higher price highs and lower EFI highs. TSLA may make a new YTD high this week, and if so, it will be important to see where the EFI high prints for that new high. Given how low EFI is currently, it would take a lot of volume and price change to move the high to exceed the prior EFIs (erasing the divergence). In SquishTrade's view, EFI is unlikely to erase both the June EFI high and the January EFI high even if TSLA runs to $300-$320 post earnings.
Supplementary Chart F shows RSI and ROC, two common momentum indicators which most readers understand well. ROC shows a series of three highs that each make a successively lower high while price made higher highs at the same time: January 2023, June 2023, and July 2023. RSI only shows a series of two highs where price made a higher high and RSI made a lower high.
Supplementary Chart F
Downside Targets
TSLA's price seems poised to pullback / retrace at a minimum. But referring to downside targets may seem a bit premature as price hasn't confirmed even a short-term reversal or the start of a retracement / consolidation within the intermediate trend yet. The technical conditions for a retracement are present, so if confirmation lower does occur in the next week or so, price can fall to trend support, however one decides to measure that within one's trading system.
Based on persistently and deeply inverted yield curves, many astute market players may be looking for more than just a retracement or consolidation within the intermediate uptrend. They want more than mean reversion, and that is understandable. Should TSLA followers expect that now? Today, July 15, 2023, confidence cannot exist about an impending trend reversal on higher time frames. Why? A major reversal where price retests / breaks January 2023 lows will likely coincide with recessionary economic data (e.g., rising UE rates), drastically changing EPS estimates based on disappointing earnings reports, and/or unexpectedly high interest rates across the curve because of sticky inflation won't budge further downward (the recent CPI print came in at 3% for headline but 4.8% for core for June 2023). Note: Fundamentals are discussed in greater depth in the next section below. But economic data has continued to come in better than expected. Recent real GDP print for Q1 2023 was recently raised to 2% and labor markets remain persistently tight as the Fed even has noted in its recent pressers. Inflation has cooled for June but this may result from basing effects.
Most importantly, trend structure on the weekly and daily time frames (intermediate and short-term) has not been broken. Until the intermediate trend structure is decisively broken, forecasting a major top / trend reversal is rash and unfounded from a technical viewpoint. This intermediate-term trend structure is the up trendline from January 2023 lows or some other more dynamic or flexible measures of trend.
So with the idea that price can run a bit higher before any retracement—since we haven't yet seen a confirmation lower yet—these downside targets remain conditioned on a short-term trend reversal. For now, the targets also must be considered corrective retracements / mean-reversion targets within the context of the current trend until the evidence proves otherwise.
Conservative Target: $245-$250
Moderate Target: $232-$238
Aggressive Target: $199-$218
Trends vs. Fundamentals
A purely technical analyst or technically oriented trend trader tends to consider only the trend and technical evidence supporting that objective. At critical junctures after retracements / corrective moves, this means favoring trend continuation rather than a reversal until the evidence says otherwise. And pure trend following means seeing the odds as favoring mean reversion when a trend gets too extended or stretched rather than reversal.
Ambiguity as to trend on varying time frames often confounds the discussion of trends. This is why it's important to remain precise and focused on time frames. For example, a long term secular trend in a given index can be upward while a primary trend can be downward or sideways (retracing / consolidating within the secular uptrend) while an intermediate trend can be upward (retracing or consolidating the primary downtrend)—and intraday traders levered up on calls and riding the short-term rip may be so hyperfocused on a rip in the short term that they dismiss a long-term analyst’s accurate characterization of corrective rally within a primary downtrend. This is just a hypothetical example of how vagueness around terminology and time frames doesn’t can obfuscate the proper technical approach to a given security.
As discussed, TSLA’s trend right now is upward on the intermediate trend and minor (short-term) trends. But the primary trend is still arguably sideways when considered from 2-3 years ago. And the secular trend since 2010 arguably still remains upward.
But may a trend trader peek outside the trend? That is a complicated question without a definite answer. For those wanting to explore whether it’s prudent to look at non-technical evidence outside the scope of the trend (e.g., considering the fundamentals and the broader macro), the following post offers some cost-benefit analysis and suggestions:
For those who wish to avoid being influenced by fundamental information, please skip this paragraph and read on to the next one. Andrew Dickson, the founder of Albert Bridge Capital and CIO of Alpha Europe Funds recently noted the following incongruities (downtrends) in EPS-estimate trends vs. price trends:
1. In late 2022, TSLA’s sell-side analysts expected $6.34 EPS in 2023 (about 9 months ago estimates).
2. After TSLA reported delivery numbers in early July, Dickson noted that “despite today's apparent 4% rev beat (implied from delivery-numbers) for Q2, 2023 EPS expectations have plummeted to $3.50. So earnings expectations for TSLA are now down -55% in 9 months and yet the stock is up +15%.”
3. He concluded that "the 2023 P/E multiple has expanded from 38x to 79x, or by 107%."
Dickson’s comments show that price is often not driven by fundamentals. Exactly what was priced in when the stock plummeted to $100 in January? And what is different now has nearly doubled off the lows? Or maybe the question is whether the data that gets priced in has different (and ever changing) weightings depending on the type of data. For example, maybe the data that affects price is most heavily weighted toward liquidity, capital flows, sentiment, seasonality, rather than fundamentals. But David Lundgren, a combined technical and fundamental analyst for whom SquishTrade has utmost respect, highly regards technical analysis, and especially favors technicals in the short / intermediate term, but says that fundamentals always matter in the long run. Here is a quotation from Lundgren from notes I've taken on his commentary in interviews and articles: "In the long-term, actual fundamentals will simply overwhelm any short-term technicals, emotions, sentiments driving a security or market price action."
Concluding Comments
Traders think in terms of probabilities, not certainties. Further, traders' time frames, risk management, and position sizes vary dramatically, which is why it seems imprudent to blindly follow another person’s signal service (whether paid or free). One very knowledgeable TV follower of mine has shorted TSLA with a position size that gives him a sizable margin of error. In other words, he can wait and allow significant fluctuations in price before getting shaken out of the position. My inference from our conversations is that his short thesis is based on deeply and persistently inverted yield curves, volatility being at major lows, deteriorating fundamentals at TSLA and other broader macro problems.
But macro and fundamentals can take a great deal of time to unfold, i.e., they do not play out immediately, and if they did, the big short should have been weeks or months ago. This year everyone thought a recession would be here by now, including experts with long-term experience managing or advising multi-billion dollar funds. This does not mean my fellow trader must be wrong. His thesis might yet succeed with time and patience, or it may yet experience more pressure or even be stopped out. This is why position size, risk management, and time frames matter. Before entering a trade or investment, one must consider time frame, position size, risk tolerance, risk management, technical or fundamental evidence, and an invalidation or stop level (which defines risk and relates integrally to position size). Shorter-term traders with leveraged, derivative, or supersized short positions would have already gotten crushed trying to short TSLA or other mega cap leaders the last few weeks or months.
Trendreversal
Potential sellFrom a technical pov... The pair will sell off, it has created double top pattern on ltf which indicates a reversal.
Paypal bullish divergencePaypal isn't performing well. Previously PYPL was downtrending, but the Relative Strenght Index (RSI) is showing regular bullish divergences forming. Long term we expect the price to rise 185 %.
FInal target would be 174 USD.
S&P 500 W reversal after 100 handles retracementWe saw a massive rally over the last months, with retracements around 100 handles.
This week's price made a 108 handles retracement after 4 failed attempts to form a new high at 4600, then price fell back to the magical 4500 level in 3 days.
At 4500 we saw a volume spike at the closing hour. With a higher low. All together it looks like a W formation at the bottom for me. Keep in mind, that tomorrow is NFP day. I'm hoping for a reversal, to a bullish trend. I'm crossing my fingers for positive news outcome.
Looking for a 4560 touch and a retest at 4500 for an explosive move, back to the highs at 4600.
Also keep in mind that it's Friday. Fridays, and Thursdays are usually great opportunities for reversals.
I also provided a 40 sample statistics from past retracements from 2022 june up until today. It shows a spread around the 100 area with oscillating trends. Hope it helps to gain a bit of confidence, that a 100 pip retracement is completely fine in a strong uptrend like what we had in july so far. (Scroll left a little bit to see the graph)
Green days and happy trading!
Peter
BTC - Price Action Analysis This is the sell off that, technically, I have been waiting for.
The twist in the kumo from a downtrend to an uptrend is a called a "kumo twist" and price will almost always touch the twist.
Since the price action has ran up from the XRP case, we could say the technicals were in contrast to the price action.
Meaning, the price was doing well, but the kumo twist indicated a sell off that had not yet happened.
So why is the sell off good from a technical standpoint?
Because after price action tests a twist, there will often be a trend reversal. Furthermore, the reversal is on the daily and weekly chart, meaning the trend reversal could be greater than the pops in price action we've seen this year, which have faced resistance every time before, and there was no technical reversal indication until the current twist.
TLDR: This sell off is healthy. Every participant and sideliner who missed the run is going to be the support that makes the bottom.
$RTY_F Small Cap Futures complete initial upside moveThe Russell Small Cap Futures completed their initial upthrust nearly a week earlier than expected. A trend change is underway, as the liquidity data indicated over the prior two weeks.
I have taken some profits on my AMEX:IWM Call Debit Spreads, and will look to reload on a pullback, anchored around the Green Flag Zone below. Eventual target for July is the Red Overhead Supply Zone, although that may take several trips.
The key here is the high-value zone within the currently dominant structure, the green flag zone below, which rises each week.
Members have been able to keep track of the plan over the past two weeks in the reports and live streams. The plan is designed so that there is no need to watch the screen during the day.
I will continue to plan ahead and use limit orders, waiting for price to come to me as I re-load and manage the position.
Above all, keeping track of the liquidity data to make sure that the Cyclical side of the Small Cap Index maintains its Quantitative advantage over the S&P and Nasdaq, which it started to gain on May 24th and the Russell 2000's Quantitative Data Advantage has been intensifying since then.
That has implications for a massive hedge fund Quant Algorithm Pair Trade that has been underway since mid-March, and which is beginning to unwind. We will be keeping track of that as it unfolds.
For now, the Quant data supports the plan we set on May 24th when I went long IWM and RTY.
📈 USDJPY Potential Reversal and Trade Plan 📉Based on recent market analysis, I have identified a potential reversal opportunity in the USDJPY currency pair. Please note that this is not financial advice, but rather an observation for informational purposes. Always conduct thorough research and consider your risk tolerance before making any trading decisions.
Instrument: USDJPY
Trade Plan:
Trend Observation: Today, USDJPY broke its bearish trend.
Reversal Confirmation: If the price does not make any further lower lows (LLs), it may indicate a possible reversal.
Key Level: The previous lower high (LH) is at 139.759, which will be used as a reference for a higher high (HH).
Trade Parameters:
Entry Price: 139.80
Stop Loss: 138.154
Take Profit 1 (TP1) (Risk-Reward Ratio of 1:1): 141.446
Take Profit 2 (TP2) (Risk-Reward Ratio of 1:2): 143.092
Please note that these levels are provided as potential targets based on the observed trend and historical price action. It's important to adjust your position size and risk management strategy accordingly. Always monitor the market closely and consider implementing stop-loss orders to protect your capital.
Remember, trading involves inherent risks, and past performance is not indicative of future results. It's crucial to perform your own analysis and consult with a qualified financial advisor before making any trading decisions.
Happy trading, and may the markets be in your favor! 🚀💰
🐻📉 GBPJPY Alert! Head and Shoulders Pattern(ultra bearish)📉🐻🚨 Brace yourselves for a trend reversal! The GBPJPY forex pair is showing a compelling bearish setup with the formation of a head and shoulders pattern. This classic yet highly reliable pattern has a proven track record of success.
Technically, the head and shoulders pattern materializes as the price forms a lower high and breaks through the initial support level, transforming it into a formidable resistance. This signifies a shift in the market sentiment and sets the stage for a potential downtrend.
Excitingly, we are now witnessing a crucial development in this setup. The neckline of the pattern has been broken, followed by a successful retest. This presents us with an excellent opportunity to join the ongoing bearish momentum and capitalize on the potential downward move.
Our target for this bearish trade will be around 180, aligning with the expected continuation of the downtrend.
Stay ahead of the game and make the most of this bearish breakout on GBPJPY! 📉💪
Feel free to share your toughts in the comments section, follow me for updates and don't forget to press the like button if you think this insight was helpful 🚀
XRP - Cuppin', no cap. Handle It! In April 2022, XRP began it's large and unfortunately rapid price decline.
All said and done, price fell ~66%.
Since then, the price has been in an accumulation range for roughly the past ~350 days forming a strong base.
On Monday, March 23rd, the price action broke above the previous rallies high that was made in September 2022.
However, that rally was denied by selling pressure, at the previous resistance point indicated by the red trend line and red arrow.
The current uptrend support, as illustrated by the orange trendline under the recent price action, signals that this reversal to an uptrend is confirmed.
(Yellow arrows = trend confirmation)
However, there is a divergence between price and volume, which means that while this may very well be a trend reversal.
Price action could still pull back and test previous support. Any trading set ups, would need to account for this.
Based on these signals and indications, I would forecast the price action pulls back if the volume continues to be lacking, followed by continuation of the trend thereby completing the current cup and handle formation.
HTF XAUUSD Idea I Would Entertain Hello Traders,
High Time Frame OANDA:XAUUSD analysis/idea i would entertain.
Narrative:
1) HTF ICT market maker buy model to sell model. Anticipating the beginning of the new "Buy-Side" of the Curve.
2) HTF Relative Equal Highs Liquidity Pool @2070.00 (HTF Draw On Liquidity)
3) Price traded into discount range.
4) Price showings signs of reversal at HTF discount PD array
5) Price showing signs of reversal (Previous daily highs being traded through).
6) July - August gold metal seasonal tendency is Bullish.
7) ICT SMT divergence between XAUUSD & XAGUSD.
HTF - High Time Frame
📉🔥 Bearish Breakout: Ethereum Double Top Spells Trouble! 🐻💥In the exciting world of crypto, a compelling bearish setup has emerged on Ethereum's horizon. The price action has given birth to a double top pattern, indicating a potential trend reversal. Moreover, this ominous formation has taken shape on a formidable supply zone, adding strength to the resistance level.
With strategic analysis and careful observation, the optimal entry point for this bearish trade is identified here around 1870. As the bears gain momentum, the first take profit level is set at 1815, followed by a more ambitious target of 1740.
Stay tuned as we closely monitor Ethereum's price action, ready to capitalize on this thrilling opportunity. Join the discussion and let's navigate the crypto waters together! 🚀🌕💎
feel free to share your toughts in the comment section. And dont forget to press the like button if you think this insight was helpful🚀
Support zone on EURUSD The expected decline started yesterday, it’s important now to determine the zone where it can reach.
The levels 1,0779-1,0807 now represent the current support zone.
Upon reaching this zone we will watch for an exhaustion of the decline and pullback.
This will provide a buying opportunity aiming 1,1080.
GDP annualized Q1 for USD will be published today.
Sell GBPCHF Head and Shoulders PatternI have posted about this in my previous idea on 22nd of June saying there is a Head and Shoulders pattern on the 4H timeframe. Now price is breaking the neckline to complete the head and shoulders formation. Now is the time to sell at the close of the current candle.We also have RSI divergence giving extra confluence. I believe we don't need this large stop loss that I have said in my previous idea (which was 1.14444) but instead a tighter stop might be better and make more sense of the current long bearish candle.
Trade Setup:
Entry - At the close of the current candle
Stop Loss - 1.14124
Take Profit - 1.11679
Good Luck and happy trading.
GBPCHF Head and Shoulders PatternThere is a head and shoulders pattern on the 4H timeframe on GBPCHF that has formed at a resistance level and now starting to show weakness as the uptrend runs out of steam.However I strongly recommend waiting for the neck line to be broken first and then enter a short trade.Also another confluence for this trade is the RSI divergence suggesting a downtrend.The trade setup for this would be to enter at the break of the neckline(wait for candle close) which is also a flip zone( resistance turned to support) and set stop loss at 1.14444 and take profit at the second support level at about 1.11679
Trade Setup:
Entry - at the break and close of neckline
Stop Loss - 1.14444
Take Profit - 1.11679
GBPJPYGBPJPY along with all xxxjpy pair is been on huge bullish trend. But currently GBPJPY has created mature bearish divergence. Will the bearish divergence play its role and divert the bullish trajectory to some corrective structure.
Charting Like A Novice ;)We are charting NASDAQ:TSLA NYSE:HLT and NASDAQ:MSFT for potential entries on Monday.
📉 Descending Broadening Wedge Identified on $RAYHey traders! Today, I want to discuss an intriguing chart pattern I've identified on $RAY. Let's explore the descending broadening wedge and its implications for potential price action. 📊💡
Pattern: Descending Broadening Wedge 📉🔽
Symbol: FWB:RAY 💰
Overview:
A descending broadening wedge is a significant chart pattern characterized by expanding price swings within converging trendlines. This pattern suggests increased volatility and the potential for a reversal. Let's dive into the descending broadening wedge pattern on FWB:RAY and assess its significance. ⚡💹
Key Features of the Descending Broadening Wedge on FWB:RAY :
Expanding Price Swings: Observe the widening price swings within the converging trendlines, creating the broadening pattern. This indicates growing volatility and potential market dynamics shift. 📈📉
Reversal Potential: Descending broadening wedges are often seen as reversal patterns, indicating a possible trend change. Monitor price action for confirmation. 🚀📈
Trading Strategy:
Entry Point: Consider entering a position once FWB:RAY breaks out above the upper trendline of the descending broadening wedge. This breakout could signal a potential reversal and the start of an upward move. ⬆️💰
Stop-Loss: Implement a stop-loss order below the lower trendline to manage risk and protect against potential downside. ⛔️📉
Target Levels: Identify key resistance levels or previous swing highs as profit targets. Adjust your position size and take profits accordingly. 🎯📈
Risk Management:
Maintain proper risk management techniques, including position sizing, setting stop-loss orders, and adhering to your trading plan. Be aware of the risks associated with trading cryptocurrencies like $RAY. ⚠️💼💡
Disclaimer: Trading cryptocurrencies carries risks, and it's essential to conduct thorough analysis and seek professional advice before making any investment decisions.
#DescendingBroadeningWedge #RAY #Cryptocurrency #TrendReversal #TradingStrategy #TechnicalAnalysis #Volatility #RiskManagement
In conclusion, the descending broadening wedge pattern identified on FWB:RAY suggests a potential reversal in the making. However, wait for a confirmed breakout above the upper trendline before considering any trades. Stay tuned for further updates on $RAY! 💹🚀
(Note: This post is for informational purposes only and should not be considered as financial advice.) 💡💼📚
USDJPY Trend Shift Short Trade SetupOn the 1 hour timeframe USDJPY has shifted from making higher highs and higher lows to barely making any higher highs and now broke the recent swing high.It also found resistance at an important level and made fake higher highs which immediately reversed.The uptrend has ran out of steam and a new downtrend has started.I believe it now a good time to take a short trade and profit from this downtrend as it is still early and at the time of writing this we have a retest at the previous support level that has turned to resistance.There is also a clear RSI divergence emphasising the bearish market.As for stop loss I recommend you set it at around the 141.760 level above the wick of the red candle and for take profit price previously struggled to break a resistance level at around the 140.240 level so this is where I have set my take profit.
This is not a financial advice.Always do your own research.
AUDUSD:Get Ready to Ride the Downward Wave! 🌊📉Traders, pay attention! An enticing bearish setup has unfolded in the forex market. AUDUSD is signaling a potential sell opportunity on the 4-hour timeframe, indicating a possible trend reversal. Let's delve into the technical analysis and uncover the exciting prospects this trade presents.
My attention is drawn to the recent breakdown of the channel in which the Australian Dollar (AUD) has been fluctuating for the past two weeks. This breach of the channel serves as a clear indication of a reversal in the prevailing trend. Bears have seized control as they swiftly engulfed the last bullish impulse, asserting their dominance.
Further bolstering our bearish stance are the moving averages 9 and 21, which have recently crossed over in a bearish manner. This crossover adds another layer of confirmation to our hypothesis, solidifying the potential for a sustained downward move on Aussie.
The RSI indicator also lends its support to this bearish setup, as it currently hovers below the 50 level. This suggests that bearish momentum is gathering strength and the selling pressure is intensifying. Brace yourself for a potentially sharp decline in AUDUSD as sellers take control.
To optimize my entry strategy, it would be prudent to await a retest of the 0.68300 level. This approach allows me to set a tight stop loss, maximizing the risk to reward ratio. My initial target lies at 0.67500, with an additional target at 0.66500. It's crucial to monitor the price action carefully and consider taking partial profits at each target level.
Let's embark on this trading journey together and aim for success as we navigate the twists and turns of the financial markets! 🌊📉
QNTUSDT SELL OPPORTUNITYHello dear traders. Here my idea to QNTUSDT . we will expect short term bearish continuation.
Traders, if you liked this idea or have your opinion on it, write in the comments. Please like and subscribe to my profile.
Good luck to you.
This idea does not provide the financial advice.
Will BTC Continue Catastropic Fall to $12k? Bears Ready for War!Bitcoin Bears are growing in number with each Bull failure to stay above the 30k price range, which they recovered on April 2023 after the November 2022 dump to the 15500 price range. This analysis uses Makaveli Trader's Pandora Box on multiple timeframes.
The Daily chart MT www.tradingview.com clearly shows a strong bearish candle breaking and successfully closing below the resistance line which in the past during the bull run acted as a strong support line
The Higher Timeframe Box on the Weekly Chart below
It is worth noting that the major chart controlling this current bear market is the Monthly chart www.tradingview.com the strong ranges on the Monthly chart will make it difficult for the current breakout above range weekly to be sustainable. The current price range of 26k to 30k I stated here that is worth observing as This range holds a strong busy trading range in the past
On the 4-hour chart, there's a short-term mini pull-up expected from 28400 to 28550 support back to the 29600 to 29800 resistance range after the current 29k support breakdown. However, the chances of buyers staying long above 30k are decreasing, and selling pressure is increasing as the market ranges below a strong resistance zone. A catastrophic fall could hit soon.
The Daily chart shows a strong bearish candle breaking and closing below the support line. This bearish engulfing candle signals a next possible drop to 23800 down to the 22400 range, depending on the strength of the sellers. The Higher Timeframe Box on the Weekly Chart shows that the market has been on a ranged move since June 2022. For the first time in more than 8 months in March 2023, we see the BTC price rally above the range zone to the price of 30k. However, BTC is still clearly in a downtrend on the weekly chart, with no evidence of a clear trend reversal. The strong ranges on the Monthly chart will make it difficult for the current breakout above range on weekly sustainable for bulls to keep pushing up. The current price range of 26k to 30k is worth observing as this range holds a strong busy trading range in the past as it acted as a strong support while BTC was in a primary bull run and is likely to play a major role in resuming the Primary Bear trend.
According to the EPIC Short on the Monthly chart, the bear trend resumes in May June 2023, calling for a leg-down move to HKEX:12800 from this current Bull exhaustion price range. However, there will be mini secondary trends (pull-ups) along the way, which takes us to the Daily Chart
My Trade road map:
SHORT-TERM LONG SETUPS:
📈 FREE MT TRADE SIGNAL 📈
👉 ASSET: CRYPTOCAP:BTC (BTC/USDT)
👉 ACTION: BUY
👉 1st ENTRY PRICE : $28698
3rd ENTRY PRICE : $28762
👉👉3rd ENTRY :$28850
STOP LOSS: HKEX:28398
👉 1st TP:$29800
UPCOMING EPIC SHORT SIGNAL:
📈FREE MT TRADE SIGNAL 📈
👉 ASSET: CRYPTOCAP:BTC (BTC/USDT)
👉 ACTION: SHORT
👉 1st ENTRY PRICE: $29900
2nd ENTRY PRICE : $29600
3rd ENTRY PRICE : $29400
👉 STOP LOSS: $30590
👉 1st TAKE PROFIT: HKEX:26600
2nd TAKE PROFIT : $22800
3RD TAKE PROFIT : $19K
EPIC TAKE PROFIT : HKEX:12400
AUDJPY I Wait for bearish confirmation Welcome back! Let me know your thoughts in the comments!
** AUDJPY Analysis - Listen to video!
We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met.
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Kinross Gold Corp longNext to day and swing trading, I also manage a private funds. Always kept the two separate, but let me showcase some of my holdings that next to the fundamental implications, also have some interesting technical implications right now. Let me start of with Kinross Gold Corp.
Kinross is a mining company with a great balance sheet that could greatly benefit from a rising gold price.
Currently trading at $4.84 with in my opinion a price target of $7-$8 range or higher. My current average price is $3,54 and looking to add to the position based on technicals.
If you look at the chart, you can see clearly price broke out of a bearish trend channel and created higher lows on the downside, which might indicate we are in for a nice bullrun on this stock.
Looking for a correction on recent strong impulse and will add to the position if price does so.
Let's go!
