DIONEUSDTsee and watch :)
It is in a very good support range and has had a very good reaction... It seems that it will move towards the price ceiling from this range...
Trendtrading
GLQUSDTsee and watch :)
After reacting to the support range, the price is now at the bottom of the channel and it seems that it will move towards the top of the channel in the coming days and the story continues...
"Straddle" on the Yen. Can we make money on this?The Japanese yen option market bet on Straddle.
A "Straddle" is a type of options strategy that aims to profit from market volatility regardless of the direction of price movement. In simpler terms, a Straddle involves buying both a call and put option with the same strike price, creating a neutral position.
This type of strategy can generate profits if the market moves in either direction, but the profits are not realized immediately, rather, they occur after the market has passed certain price points. It is highly recommended that you read ourarticle published on TV for further understanding.
Despite the fact that examples are provided in post from stock market, where Straddles are more common, the principles and mechanics of this strategy are applicable to all markets.
So, on August 6th, a significant Straddle option portfolio was listed on the Chicago Mercantile Exchange (CME). The boundaries of this portfolio, which are indicated on the provided chart, represent reasonable entry points for the portfolio owner. Based on observations, the price tends to bounce off these boundaries. Therefore, these boundaries can be used to enhance our trading strategy. For trading in the direction of the current trend, of course! Not contr-trend!
Let's see if we can get a signal at the border and open up a position.
REN/USDT Analysis – August 8, 20241. Introduction of the Analysis: BYBIT:RENUSDT.P
This analysis delves into the REN/USDT pair on the 4-hour timeframe, using technical indicators to project potential market movements and identify strategic trading opportunities.
2. Indicators Used:
- Quarterly Fibonacci Pivot Point Levels: These levels are used to highlight crucial support and resistance zones that could guide price action.
- Main Pivot Point (Yellow Resistance): The yellow line represents the main pivot point, a significant level where price reactions are anticipated.
- Support and Resistance of Pivot Points: The grey areas on the chart provide additional support and resistance levels derived from pivot points, offering further insights for potential price targets.
- Weekly Candle Display: This feature allows for alignment with broader market trends by showing weekly price movements.
- Monthly Fibonacci Pivot Point Levels: These levels provide higher timeframe confluence, reinforcing the importance of the identified support and resistance areas.
- Yellow Candle (High Volume): The yellow candle indicates a significant volume spike (over 200), signaling strong market activity at that level.
3. Overview:
- Support Zone:
- A key support area is identified near the 0.0306 level, which corresponds with a quarterly Fibonacci pivot point. This zone could serve as a potential rebound area for price.
- Resistance Zone:
- The primary resistance level is marked by the yellow line at 0.04318, aligning with the main pivot point. Additional resistance is found around 0.05277, which could act as a target for price movements.
- Trade Setup:
- Long Position:
- Entry: Around 0.03976, where price is testing a grey support zone.
- Targets:
- First target at 0.04318.
- Second target at 0.05277, correlating with the upper resistance level.
- Stop Loss: Below the recent low at 0.0306.
4. Conclusion:
REN/USDT is currently positioned at a key support level of 0.03976, with potential for an upward move towards 0.04318 and 0.05277 resistance zones. Traders might consider entering long positions at these levels, with proper risk management by setting a stop loss below the 0.0306 support level.
5. Disclaimer:
This analysis is provided for informational purposes only and should not be considered as financial advice. Always conduct your own research and consult a financial advisor before making trading decisions. Past performance is not indicative of future results. This content adheres to TradingView’s guidelines and avoids any promotional or external community links.
CHFJPY SELLComing from an uptrend, we broke the trend line breaking the previous higher low and forming a lower low. We have come to retest the sell zone and got a confirmation candlestick which confirms a potential trend change.
Bitcoin Down 14% from Halving Event: What Happens from HereThree posts ago, we discussed the intricate relationship between Bitcoin’s halving events and broader economic conditions. The recent market developments have indeed proven this connection, as Bitcoin has experienced a significant 14% drop since the halving event on April 20th 2024.
Context of the Recent Market Crash
Several factors have contributed to Bitcoin's recent decline:
1. Macro-Economic Conditions : The Bank of Japan's rate hike on July 31, 2024, significantly impacted global markets. This move made borrowing more expensive, disrupting the carry trade involving the yen and causing a ripple effect across various asset classes, including cryptocurrencies.
2. Market Sentiment and Sell-offs : The anticipation of Mt. Gox creditor repayments, releasing around $8 billion worth of Bitcoin into the market, created fear among investors, prompting a sell-off that drove prices down to as low as $53,600.
3. Broader Equity Market Decline : Global equity markets have also been under pressure, with major indices experiencing significant losses. This broader market downturn has influenced Bitcoin's price, as investors often sell off riskier assets during periods of economic uncertainty
It's Not All Doom and Gloom
Over the long term, Bitcoin has always shown resilience and growth, particularly in the years following a halving event. Historically, Bitcoin's price tends to experience significant increases 6-12 months after each halving. This pattern has been consistent across the previous three halving events:
2012 Halving: Bitcoin surged from around $12 to over $1,000 within a year.
2016 Halving: Bitcoin climbed from approximately $650 to nearly $20,000 within 18 months.
2020 Halving: Bitcoin soared from $8,000 to over $60,000 in the following year.
These historical trends indicate that despite short-term volatility and market downturns, Bitcoin has a strong track record of long-term growth. This resilience is driven by the fundamental principle of reduced supply through halvings, which creates scarcity and can drive demand.
Position Update from Our Trend Model
The Model had gone cash one day prior to the sell-off, resulting in a small loss of 6% from the long entry price back in July, the model was however able to avoid what was to come after that, which was a 20% drawdown within 72 hours. The model remains bearish for the medium term and we'll update in another post when the time comes.
As always, it is crucial to conduct thorough research and consider both macroeconomic factors and market sentiment when making investment decisions. Stay tuned for more updates and insights as we continue to monitor the evolving market conditions and their impact on primarily crypto 🚀.
#OIL Elliot wave analysisAfter the bearish move that oil prices experienced until the fifth of August, it seems like the price has initiated another bullish move, which currently appears to be an impulsive wave.
However, it should be noted that even if this bullish move is an ABC corrective wave, it makes no difference since the price could still go higher to complete wave C.
Therefore, this bullish move seems probable for now, and we could look for buying opportunities near support levels.
Gold Traders Alert: Crucial Levels to Watch for the Next Trade!Key Components:
Chart Type and Pair:
The chart is a 1-hour (1H) timeframe for the Gold Spot/U.S. Dollar (XAU/USD) pair.
Support and Resistance Levels:
Horizontal Resistance Line at $2,446.18: This is labeled as "1HR LQZ" (1-hour liquidity zone), indicating a significant resistance level where price might face selling pressure.
Horizontal Support Line at $2,347.82: Also labeled as "1HR LQZ," indicating a significant support level where the price might find buying interest.
Trend Lines:
There are descending yellow trend lines drawn, indicating a downtrend. The lower yellow trend line has a label suggesting a "Potential 3rd Touch," which typically indicates a possible point for a bounce or reversal.
Price Action:
The recent price action shows a lower high (LH) formation near $2,446.18, suggesting a downtrend continuation.
Two potential scenarios are sketched on the right side of the chart with different colored lines (orange and green) depicting possible future price movements.
Analysis:
Current Trend:
The overall trend appears to be bearish due to the formation of lower highs (LH) and lower lows (LL).
Support and Resistance:
The price is currently trading between two significant levels ($2,446.18 and $2,347.82). Breaking either level with strong momentum could indicate the next directional move.
The price nearing the lower yellow trend line for a potential third touch suggests a possible bounce. If the price respects this trend line, it could indicate a temporary support.
Potential Scenarios:
Bullish Scenario (Green Path):
If the price finds support at the lower yellow trend line and the horizontal support at $2,347.82, it might bounce back towards $2,446.18. Breaking above this level could lead to a further rise.
Bearish Scenario (Orange Path):
If the price fails to hold the support at the yellow trend line and $2,347.82, it might continue to fall. A break below this support level could lead to further declines, targeting lower support levels not shown in the chart.
MAX/USDT NEW INCREASE VOLUMEMAX/USDT shows the low time frame possibility for new volume which can affect the price for an uptrend. ( depend all on high chance) There are no guarantees in the markets.
The new increase volume updates start always with interest if there is a confirmation with follow, and if there is a building with hold for a time.
90% of coins this time are not building coins. some % shows also a start fake trend and return back where it did start. time frame confirmation + high levels building is important for a healthy coin.
We are in a main market where panic is active.
When this coin can confirm we will follow it further for trend follow.
This update and all our updates are not trading advice, Trading can always be risky.
Let's hope the best trades for everyone❤️
Dogecoin Buying Opportunity?As you can see on the daily chart, dogecoin is trending downwards in this channel. Buyers seem unable to break above .12800 resistance at the moment.
If price breaks below the support line, I will wait to see how price reacts to the potential buy zone for a long position/dead cat bounce.
If price retests the support line and doesn't break it, I might enter for a scalp to the upside.
If price breaks above the channel and creates a new trend upwards, I will enter long.
What are your thoughts on dogecoin?
COINBASE:DOGEUSD
SP500 1D | PlanThe reaction and closes of the price in the current area are very important. A close above the 200 EMA and DO within a few days is crucial. If the price fails to recapture the dark blue box as I indicated, I expect to see the price action, brush movement I have drawn below. The area of the purple box where MO and pMO are located will be the target.
Happy Trading
Maximum Hypothesis TestI still believe Tesla is a great company with a lot of future ahead. However, seeing how aggressive price action has been lately, it would be wise to consider taking some profits. This would allow for the trade to keep going, and the previous winning trades will have room to grow into strong investments. It's unlikely that price will continue to uptrend in this manner, but it's great to finally see some life signs out of this company. I'm sure their future will be bright, but as of now we must stay realistic and expect price to uptrend in a normal manner and not in a bubble like form.
I believe it would be best to lay back and wait for more buying opportunities and look to dollar cost average the dip. If price does keep increasing then the unliquidated stocks should keep capturing returns and if it drops then dollar cost averaging would create a great scenario for catching a possible long term uptrend.
Will the dollar recover its recent losses?Looking lately at the Peso/Dollar relationship, it has seemed as if the high prices for the dollar are here to stay and the super peso has come to past. It was surprising to see that the upward trend that price was on broke. However, price as of lately has been struggling to push downwards. This is because of the 25MA is acting as support on the daily chart. Additionally, seeing the 25MA acting as resistance in the monthly chart put this trade in an uncomfortable situation. Mainly because even though there is an uptrend in important time frames, this trend is being tested on a way larger time frame.
On the other hand, the movement that brought price to these levels was very solid and has a lot of support under it. Considering 18.00 pesos per dollar to be quite a good deal, I would believe that many more people will see it this way and would rather be investing in dollars. In conjunction with the main Mexican index BMV:ME which has failed to recover from the down movement caused by the victory of the newly elected Mexican president. It's officially been a month since the index hasn't been able to break above the 25MA. If price fails to create an uptrend soon, this could lead to another 8% fall in the Index. This would create great buying opportunities in the Mexican market but could also cause investors to panic.
Waiting to see if Mexico is in the verge of collapse makes me think that dominoes may be starting to fall. Meaning there could be something much more serious lurking under the water. This in combination with the high risk that the USA will enter a crisis makes me believe that if price of Mexican stocks doesn't begin to turn around, we could be on the verge of a new recession. The USA still seems to have some fuel left in the tank, which could help the Mexican index recover, as also the recent rainfall has been a blessing for many communities that were affected by the severe droughts all over the country.
Meaning there is a possibility that Mexico will recover, but if it doesn't then this should be a red sign for the USA as your market is overextending. Meaning, if USA enters intro euphoria and Mexico into crisis, then we would have a severe economic divergence in two countries which economies are interconnected. Expect the best, prepare for the worst.
NVIDIA updateRecently, test of finding a top turned out to be a success. However, after entering into an uptrend on lower timeframes, price had a sudden drop while it was nearing all-time highs. This puts in risk the first trade of the referenced idea at risk.
The reason we get a sell signal is because: The recent raise in price action was not enough to overcome the downward movement of the correction. However, the 25 MA usually works as a key support-resistance. Therefore, it's currently being used as support, but if this support fails its likely price will return to the current lows where the 25 MA would most likely become resistance and would test price action before determining to create a new low or continue an uptrend. The best movement for technical uptrend health is a slight correction into current lows before forming a new uptrend.
This movement will also be important for the SP:SPX as NASDAQ:NVDA holds a quite large share of the index at the moment. This could be the formations of the downtrend brought by the cyclicality of uptrends and downtrends. As it was mentioned in the referenced idea.
Nasdaq Weekend Pre MarketIt's the weekend. I like to go out to my larger charts and clean off the entire chart and start analyzing the instrument for next weeks trading.
We know that price is going to move up or down from where it currently is located, so we just need to make up a game plan to trade it..
Looking out at the 4 hour, 1 hour, and 15 minute charts for our trend and target analysis. Then dialing it down to the 3 minute or 15 minute to look for an entry!
LONGING $AVGOWhy I'm bullish on NASDAQ:AVGO :
Retest a broken Resistance level which is now considered Support (4 hour)
Retesting our Trend Line (4 hour)
Wick-to-body Forecast is indicating bullish movement
Entry: $145.00
Take Profit: $165.00
Stop Loss: $138.00
Never Underestimate A Simple Setup USDCHF +120 Pips Update: simple and easy setups sometimes are the best so never underestimate ur trade and have second thoughts about it on 2 conditions:
1- u enter from strong area of resistance or support.
2- u don't enter against the trendline or the general direction of the pair.
the price is creating very decent waves and also it will hit 71% fib level that will be at the same are of the trendline so putting a sell trade around this are will be great opportunities
Trading Idea: Bearish Shark Setup on NZDUSDI wanted to share an interesting setup on NZDUSD that’s been forming for a while. Let’s dive into the details!
Current Overview:
Bearish Shark Setup:
Potential Reversal Zone (PRZ) : The setup has been hovering at the PRZ, which some traders might misinterpret as a violation.
Key Insights:
Having the Right Knowledge Matters : From my 19 years of trading and nearly 16 years of coaching, I’ve seen even experienced traders make mistakes in reading signals like this. It’s not uncommon for traders with 8 years of experience to misjudge such setups.
Strategy:
Second Chance Entry:
Key Level : 0.5935
What to Do: If you missed the initial signal, wait for the market to retest 0.5935 for a second chance entry opportunity.
Community Alert:
This Trade Alert was triggered at 14:00(SGT)
Final Thoughts:
Patience and proper signal interpretation are crucial in trading. If you’re looking for a second chance, keep an eye on 0.5935. Don’t hesitate to reach out if you need more insights or if you missed this trade.
What’s your take on this setup? Have you seen similar patterns before? Share your thoughts and strategies below!
Happy trading, everyone!
This Simple Error Cost Me Big on XAUUSD! Learn From My Mistakes!Key Levels and Zones
Highs and Lows:
HH (Higher High) and LH (Lower High) are marked on the chart.
The chart shows a recent HH and LH indicating a bullish trend with a potential pullback.
Liquidity Zones (LQZ):
4HR LQZ at 2474.891: This zone might act as a significant resistance level.
4HR LQZ at 2432.126 - 2432.046: This zone was previously a resistance level that may now act as support.
4HR LQZ at 2348.453: Another support zone lower on the chart.
Daily Bull Flag:
A daily bull flag is drawn, suggesting a potential continuation of the bullish trend if the price breaks out upwards.
Trading Plan
Identify Key Zones:
Mark key support and resistance levels on your trading platform.
Wait for Confirmation:
Look for confirmation signals (candlestick patterns, volume spikes) before entering a trade.
Set Alerts:
Use trading alerts to get notified when the price reaches key levels.
Risk Management:
Always use a stop loss to protect your capital.
Ensure your risk-reward ratio is at least 1:2.
Review and Adjust:
Regularly review your trades and adjust your strategy based on market conditions.
Gold Breakout Imminent? Uncover the Explosive Potential of GOLD!Current Trend
Bull Flag Formation: The chart indicates a bull flag pattern, a bullish continuation pattern that usually occurs after a strong uptrend (flagpole). The consolidation within the flag is typically a pause before the next upward move.
Trendlines: The yellow trendlines outlining the flag suggest that the price is currently testing the upper boundary of this consolidation range.
Fibonacci Retracement Levels
78.60%: This level is around 2431.637 (coincides with a 4HR LQZ), acting as a strong resistance zone.
61.80%: Around 2410.880, which the current price has just crossed, potentially indicating bullish momentum.
50.00%: Around 2393.940, served as a support level during the consolidation.
38.20%: Around 2372.760, another support level during the consolidation.
Liquidity Zones (LQZ)
4HR LQZ at 2431.637: A significant resistance zone that aligns with the 78.60% Fibonacci retracement level. This is a critical area to watch for potential price reaction.
4HR LQZ at 2349.449: A key support zone which held during the recent consolidation phase.
Price Action
Current Price: At 2410.880, the price is approaching the critical resistance at the 4HR LQZ (2431.637).
Breakout Potential: If the price can break and hold above the 2431.637 level, it may confirm the continuation of the bullish trend, targeting higher liquidity zones.
Support Levels: The price needs to stay above the 61.80% Fibonacci retracement level (2410.880) to maintain bullish momentum. A drop below could lead to further consolidation or a bearish reversal.
Daily Bull Flag
Upper Trendline: The price nearing the upper trendline of the daily bull flag indicates potential breakout if breached.
Lower Trendline: Support if the price pulls back.
Trading Strategy
Long Entry:
Upon a confirmed breakout above the 4HR LQZ at 2431.637, with a potential target of the next daily liquidity zone at 2475.281.
Use the 50.00% retracement level (2393.940) as a support for placing stop-loss to protect against downside risk.
Short Entry:
If the price fails to break above the 4HR LQZ and shows bearish reversal signs, a short trade could be considered with a target back to the lower 4HR LQZ at 2349.449.
Use the current price level (2410.880) as a resistance for stop-loss placement.
Risk Management:
Utilize appropriate position sizing and risk management to account for volatility and potential price fluctuations.
Summary
Bullish Outlook: If the price breaks above the 2431.637 level, indicating a continuation of the bull flag pattern, with targets at 2475.281 and beyond.
Bearish Outlook: If the price fails to break above 2431.637 and shows a reversal, potential downside targets include 2393.940 and 2349.449.
Monitoring the price action around these critical levels will be crucial in determining the next significant move for XAUUSD.
DOGE - 120% Increase FIB Target (⊙_⊙)Dogecoin is looking bullish here for a couple of reasons:
1) Chart Pattern
Inverse Head and Shoulders in the Daily
2) Technical Indicator
"BUY" flash in the weekly
3) Trendline Analysis
Higher lows, consistently
If you've been following, you'll know I've been looking at a multi-month playout where we can expect another impulse wave up in Bitcoin as well as for altcoins, naturally. A few days ago I made a post on why I believe the corrective phase is over, and why we're likely in the beginning of the new impulse wave up. 👇
It's important to note that this impulse wave is potentially another multi month playout . But with patience, and courage, it can be a rewarding upcoming few months.
___________________________
KUCOIN:DOGEUSDT
Gold's Next Explosive Move: Is a Massive Surge or Dramatic Drop?Major Support / Resistance Zone:
This zone is marked clearly on the chart and acts as a significant level where price has previously reversed or consolidated. It's crucial to monitor how price reacts around this area.
Wave Analysis:
The chart shows a clear Elliott Wave structure, with a 5-wave pattern identified. Waves (1) to (5) represent the motive waves, and the correction waves are seen in between.
Bearish Flag #1 and #2:
These flags indicate periods of consolidation following a downward movement, suggesting potential for continuation to the downside. They are often characterized by lower highs and lower lows forming within a channel.
Descending Channel:
The descending channel provides a clear bearish structure, with price making lower highs and lower lows. This channel acts as a guide for potential price movement, indicating bearish sentiment as long as the price remains within this structure.
Daily Bull Flag:
This larger bullish flag formation suggests a longer-term bullish potential if price breaks above the flag's upper boundary. It's a key pattern to watch for potential upside.
1HR LQZ / Reversal Zone:
This liquidity zone (LQZ) is marked as an area where a significant amount of orders might be present, potentially leading to reversals or significant price reactions.
4HR LQZ:
Similar to the 1HR LQZ, but observed on the 4-hour timeframe, suggesting a more significant potential reversal or consolidation area.
Bullish Potential:
If the price breaks above the 1HR LQZ / Reversal Zone and the descending channel, there is a bullish potential up to the levels marked on the chart. The structure would need confirmation through higher highs and higher lows.
Bearish Potential:
If the price fails to break above the descending channel and instead moves below the 4HR LQZ, a bearish continuation is likely, potentially targeting lower support levels.
Summary
The chart indicates a potential for both bullish and bearish scenarios depending on how the price reacts to the identified key levels (major support/resistance zone, 1HR and 4HR LQZs, and the descending channel).
Bullish scenario: Break above the 1HR LQZ and the descending channel, leading to a continuation towards higher levels.
Bearish scenario: Failure to break above the descending channel and a move below the 4HR LQZ, indicating a continuation to the downside.
This analysis should help in making informed trading decisions based on the observed technical patterns and key levels.
Gold's Next Big Move: Will It Skyrocket or Plummet? Expert View!Major Support / Resistance Zone:
This zone is marked clearly on the chart and acts as a significant level where price has previously reversed or consolidated. It's crucial to monitor how price reacts around this area.
Wave Analysis:
The chart shows a clear Elliott Wave structure, with a 5-wave pattern identified. Waves (1) to (5) represent the motive waves, and the correction waves are seen in between.
Bearish Flag #1 and #2:
These flags indicate periods of consolidation following a downward movement, suggesting potential for continuation to the downside. They are often characterized by lower highs and lower lows forming within a channel.
Descending Channel:
The descending channel provides a clear bearish structure, with price making lower highs and lower lows. This channel acts as a guide for potential price movement, indicating bearish sentiment as long as the price remains within this structure.
Daily Bull Flag:
This larger bullish flag formation suggests a longer-term bullish potential if price breaks above the flag's upper boundary. It's a key pattern to watch for potential upside.
1HR LQZ / Reversal Zone:
This liquidity zone (LQZ) is marked as an area where a significant amount of orders might be present, potentially leading to reversals or significant price reactions.
4HR LQZ:
Similar to the 1HR LQZ, but observed on the 4-hour timeframe, suggesting a more significant potential reversal or consolidation area.
Bullish Potential:
If the price breaks above the 1HR LQZ / Reversal Zone and the descending channel, there is a bullish potential up to the levels marked on the chart. The structure would need confirmation through higher highs and higher lows.
Bearish Potential:
If the price fails to break above the descending channel and instead moves below the 4HR LQZ, a bearish continuation is likely, potentially targeting lower support levels.
Summary
The chart indicates a potential for both bullish and bearish scenarios depending on how the price reacts to the identified key levels (major support/resistance zone, 1HR and 4HR LQZs, and the descending channel).
Bullish scenario: Break above the 1HR LQZ and the descending channel, leading to a continuation towards higher levels.
Bearish scenario: Failure to break above the descending channel and a move below the 4HR LQZ, indicating a continuation to the downside.
This analysis should help in making informed trading decisions based on the observed technical patterns and key levels.
