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TSLA: Has finally reached its critical support (D & W analysis)!TSLA shares have corrected to the support level we identified in our last public analysis, in the vicinity of the green line at $230, between the 50ma and the 200ma. In fact, it looks like the 200ma is serving as our last support, since the price is bouncing right back after hitting this indicator. The link to my previous public analysis is below this post, as usual. Volume has fallen sharply and TSLA's shares are very weak, as it is the only one among the "magnificent 7" that is not showing any signs of recovery this week. In two weeks the company will release its earnings report, and this will be an important event, but until then, we don't see any technical signs suggesting a bottom. Yes, the price has reached an extremely important support point, but we need to see confirmation of a bottom signal to believe in a decent recovery. Despite the signs of weakness, the price is not in a downtrend yet, for that we need to see LHs/LLs. Now, let’s look at the weekly chart: From a technical point of view, the next resistance is around $300, the previous top. Can TSLA get there? In theory yes, but in practice we need to see a clear bottom signal, as mentioned in the analysis of the daily chart. You have to admit that if TSLA were going to react, now would be the perfect time, we just need confirmation. On the other hand, if the price loses the critical support point on the daily chart, nothing would prevent a sharper correction on the weekly chart, perhaps to its next support around $207, or even to the support line of its Descending Channel. This would frustrate the breakout of the previous resistance of this channel, characterizing a false breakout, a powerful bearish signal. If you ask my personal opinion, I wish to see TSLA making a bottom around this support area, as the Risk/Reward ratio for a long trade would be attractive, however, we see no confirmation yet, and there is no meaningful bullish reaction suggesting a possible recovery yet. I’ll keep you updated on this, so consider following me for more analysis like this, and support this idea if you liked it. All the best, Nathan.
NASDAQ:TSLA
by Nathan_The_Finance_Hydra
9
Confirming Chart Patterns Through Volume AnalysisVolume Analysis: Confirming Chart Patterns and Institutional Interest in Minervini's Strategy Introduction to Volume Analysis in Minervini's Strategy In the realm of stock trading, volume analysis stands as a critical component, especially in the methodologies championed by Mark Minervini. Renowned for his remarkable success in the stock market, Minervini's strategy incorporates a nuanced understanding of volume analysis to enhance decision-making and identify prime trading opportunities. This section delves into the integral role of volume analysis in Minervini's approach, emphasizing its function in confirming chart patterns, signaling institutional interest, and understanding market sentiment. Volume Analysis: Confirming Chart Patterns and Institutional Interest in Minervini's Strategy Confirming Chart Patterns Through Volume Analysis Volume, the total number of shares traded in a given time frame, serves as a powerful tool in verifying the strength and reliability of chart patterns. In Minervini's approach, a chart pattern is not just seen through the lens of price movements but is also analyzed in conjunction with volume. For instance, when a stock forms a pattern like a cup-with-handle, Minervini looks for an increase in volume as the stock breaks out of the pattern. This increase in volume is crucial as it confirms the pattern's validity and suggests a strong buying interest, increasing the likelihood of a successful trade. Volume Spikes as Indicators of Institutional Interest Minervini pays close attention to volume spikes - sudden increases in trading volume. These spikes are often indicative of institutional buying, which can significantly impact a stock’s price movement due to the large quantities of stock bought or sold by institutions. When a volume spike coincides with a breakout from a recognized chart pattern, it is often interpreted as a strong signal. This is because institutional involvement can provide the necessary momentum for a stock to sustain its breakout and continue its upward trajectory, making it an attractive trade opportunity. The Significance of 'Quiet' Volume Periods Equally important in Minervini's analysis is the recognition of 'quiet' volume periods. These are phases where volume is below average, often observed during the formation of the 'handle' in a cup-with-handle pattern or other consolidation patterns. Quiet volume periods suggest that selling pressure is diminishing and that the stock is not facing significant resistance. For Minervini, these periods are a key indicator, as they often precede strong breakouts. The rationale is that when a stock eventually breaks out on high volume after a period of low volume consolidation, it indicates a renewed interest and a potential change in trend, making it a prime candidate for trading. In conclusion, volume analysis plays a pivotal role in Minervini’s trading strategy. By integrating volume analysis with chart patterns and understanding the implications of volume changes, Minervini crafts a more complete and robust trading strategy. This approach not only enhances the probability of identifying successful trades but also aligns with his overarching emphasis on precision, discipline, and risk management in the pursuit of stock market success.
AMEX:SPYEducation
by JS_TechTrading
INJ/USDT Speculative TradingWe are considering a speculative trading idea on the INJ/USDT coin pair. Since the beginning of December 2023, there has been a noticeable increase in the asset, starting from the $16 level and reaching a maximum of $45. This growth amounted to more than 179%, indicating high interest in the asset from buyers. However, after reaching the $45 mark, the asset underwent a correction, decreasing to the $29 level. During the correction, there was a false crossing of the 200-day moving average, followed by a sharp increase. The second touch of the $45 level occurred on January 9, forming a resistance level, indicating the significance of this level in the current context. Considering the current trend, we can predict that the asset will consolidate near the resistance level at $45, with a subsequent breakthrough and establishment of the price above this level. In this case, there is a possibility of opening a long position on the asset upon retesting the $45 level and then holding the asset until the price reaches around $54, which could provide additional profit opportunities of around 20%.
Long
by Rick_SimpleSwap
A Potential Correction on Bitcoin Incoming?Introduction In the ever-evolving landscape of cryptocurrency trading, the ability to interpret market indicators is invaluable. The latest data from Bitcoin trading charts presents an interesting narrative: Bitcoin, the flagship cryptocurrency, might be showing signs of an impending shift in its market trajectory. The chart shown, which tracks Bitcoin against the US dollar, is overlayed with the Volume Exhaustion indicator that highlights peaks in trading volume. These peaks are more than just blips on the radar; they could signal critical junctures in Bitcoin's market cycle, possibly indicating the end of its current rally. In this article, we delve into the analysis of these indicators and explore the implications for Bitcoin's short-term future. Could we be on the cusp of a correction, or is the market simply catching its breath before climbing to new heights? Let’s explore what the chart suggests about the potential paths ahead for Bitcoin. Potential End of the Bitcoin Rally From the chart, we see volume peaks highlighted, which often coincide with significant price movements. High trading volumes can signal the climax of a price trend, especially when they occur at the peak of a rally. The reason is that high volumes reflect high levels of activity, which, at the end of a rally, might mean that most buyers who were willing to buy have already entered the market, leaving less demand to push the price higher. Correction or Consolidation After such peaks in volume and price, markets typically enter a correction or consolidation phase. A correction is characterized by a drop in price, where the market 'corrects' some of the gains made during the rally. This might happen due to various reasons, such as traders taking profits or a change in market sentiment. On the other hand, consolidation is a period where the price stabilizes and moves sideways. This could suggest that the market is in a state of indecision, with the forces of supply and demand nearly balanced. Looking Ahead Investors and traders might interpret the current situation as a signal to exercise caution. It could be a time to consider taking profits or hedging positions to manage risk. However, it's also essential to consider other market factors and news that might impact the price of Bitcoin. Conclusion The indicators on the chart suggest that we might be near the end of the current Bitcoin rally. While this could lead to a price correction or a consolidation phase , it's important for investors to conduct a thorough analysis, considering both technical indicators and market fundamentals before making investment decisions. As always, past performance is not indicative of future results, and it's crucial to approach trading with a solid strategy and risk management practices.
INDEX:BTCUSD
by AlgoAlpha
EURUSD Buy opportunity.As you can see, on the 1 hour chart, the trend has been very bullish lately. However, there has been a recent pullback. We are looking for a buy opportunity on the open next Monday, as a trend continuation trade. My reasons to believe price will keep pushing upwards are the main confluences that hint toward this move. - Fibonacci retracement 50.00%. - Many buyers previously interested in this region. - Support zone/bullish OB. (on the HTF) - Lower bearish volume.
Long
by rizpqe
MATIC - Wyckoff Reaccumulation Schematic#MATIC This looked like a simple flag initially, which is a great bullish continuation pattern, but since has evolved into a #Wyckoff Reaccumulation Schematic. The latter is actually a healthier option, and one which usually warrants less pullbacks vs the simple flag, that very often comes with sharp retraces. The Volume is perfect, the OBV is perfect, the pattern is perfect, the timing during Trad Fi market close and end of year standard low volume is perfect... Have you placed your bets?
MLong
by ANobleNerd
CRV/USDT Accumulation PhaseBelow is the description of the accumulation phase potential development of the CRV/USDT cryptocurrency pair. After reaching a local minimum in November 2022, when CRV was trading around $0.3982, there was a convincing upward movement that led to a significant increase to $1.29. During this period, the asset demonstrated a growth of more than 225%. Subsequently, the asset gradually declined, reaching a new local minimum at $0.3882. During the price decrease, a descending trading channel was formed. At the moment, the asset is testing the upper boundary of this channel, which is occurring at the level of $0.6382. Considering the current trends, we can assume that the asset is preparing to overcome the upper boundary of the trading channel. This could happen after a small corrective pullback to the average price within the descending channel. Following a successful breakout above the upper boundary of the channel and a subsequent retest with a possible bounce from it, a positive signal for further growth of the asset can be expected. This scenario could indicate movement towards a price maximum at the level of $1.29.
Long
by Rick_SimpleSwap
EWT - Wyckoff Accumulation + Volume #EWT This beautiful falling wedge or #bullflag has all the mechanics of a #Wyckoff Accumulation Schematic built into it, which can be seen by #volume tells in all the right places. After The low was breached note the negligible #volume, then observe the volume on the first solid bullish candle to break through the #wedge. What we want to see after is the follow-through retrace candles reaction, and not just the #volume, but the fact it snatched the stops on the candle a month before it. Pair that all with my favorite leading indicator, #OBV, which has already breached the last swing. I like this PA...
KRAKEN:EWTUSDLong
by ANobleNerd
#ETHBTC - #Wyckoff & #Volume & #Divergences & #Sentiment#ETHBTC The Broadening Wedge has a track record of being one of the most brutal patterns for emotional Traders to navigate, but if we peel back the layers to see what's happening of actual importance, that's when things start to get really interesting, IMO. This is very possibly a textbook Wyckoff bottom. It's presenting all the signs of what we want to see plus #ETHBTC has a history of combining extremely low sentiment with ruthless patterns. But once again just focus beyond the noise of PA and we can see what is volume or lack thereof in all the right places, paired with stacked divergences. Nothing is 100% certain in this place, but based on probabilities gauged over history and the rest of the story, I know what I'm doing...
Long
by ANobleNerd
LUKSO - On Balance Volume + The Stair Step#LUKSO #LYX & #LYXE have a small market cap and a history of coiling then spiking 100%'s followed by deep retraces before blasting further to the moon. The most important indicator that ties all the others together is #Volume IMO. So if we use #Volume to gauge #support & #resistance it gives us an X-ray view through the noise. First note the hike up the staircase of support, then look at the OBV doing the same and showing that strength is already to and #ATH but price just hasn't caught up yet. Now we just stack and wait IMO...
Long
by ANobleNerd
LINK - The Stair Step + Double Bounce#LINK After a beautiful ABC correction after an Impulse wave #Link has taken multiple shots and cracked up through resistance and is now coiling up and stair stepping on top of support. When PA is as clean as this, with volume in all the right places. Yes there is incredible potential for clean gains, but more than that it's a spectacular example to learn from IMO. Such a beautiful illustration of how support & resistance work. I hope this helps provide a lens through the noise of PA so you can truly appreciate what's taking place in plain sight and hopefully also how to use this as a map for future gains.
Long
by ANobleNerd
AI's EUR/USD Pattern & Scalping Range, Local European SentimentAI's EUR/USD Falling Channel & Breakout Odds with Scalping Range D ear Valued Investors, Introduction I would like to provide you with an update on the trading bots' activity. They have been diligently following a short position initiated at 1.101, see the idea above the chart, and I am pleased to inform you that the trade has been successful, as indicated by the success of the forecast on the left side of the chart. News Trading - Natural Language Processing Results - The European Central Bank (ECB) is expected to raise interest rates in July, which could strengthen the euro. The ECB has been signaling for months that it will need to raise rates to combat inflation, and the latest data suggests that inflation is still running high in the eurozone. A rate hike would make the euro more attractive to investors compared to the dollar, which is currently yielding very little. - The eurozone economy is showing signs of resilience. The eurozone economy grew by 0.3% in the first quarter of 2023, and the latest data suggests that growth is continuing in the second quarter. This suggests that the eurozone economy is more robust than many economists had expected, which could support the euro in the near term. - The risk of a recession in the United States is increasing. The US economy is facing a number of headwinds, including high inflation, rising interest rates, and the war in Ukraine. These factors could lead to a recession in the US, which would likely weaken the dollar and strengthen the euro. Personal Comment I live in the EU, and as a consumer, I don't see any sign of recession here. To me, it seems that the US economy bears the bigger weight in the news of the war are about. Objectively, the US economy might be stronger, but the prices don't necessarily reflect the current power. Investors try to speculate which economy will suffer harder and pool value into those that seem resilience. I believe in the resilience of the EU economy, and I experience the local sentiment. While prices are rising, people don't FUD yet. Many seek opportunities to make a profit that can cover the inflation costs. EUR has seemed more resilient so far to the difficulties than the other European currencies. If you live in the EU, you know that many countries still have their national currencies (not EUR), but you can pay with EUR everywhere here. So, it makes sense that many sell their national currencies to EUR. EUR is more resilient, and they can pay with it as smoothly as with their national currencies. Pattern Recognition AI's Results Through my pattern recognition algorithms, I have identified a falling channel pattern on the chart. This pattern is characterized by purple trendlines. Despite its bearish implications, the price broke above this pattern on December 11th, suggesting potential bullish momentum. Scalping Possibilities Currently, the EUR/USD is in a consolidation phase, trading between the support level at 1.072 and the resistance level at 1.082. These levels align with the EMA 100, and the support line is denoted by the color green, while the resistance line is represented by red. Shorting opportunities may arise from resistance to support. Neural Network's Prediction Based on the current technical indicators, I anticipate a scenario in which the EUR/USD gains momentum from the support level and breaks out above the channel. This potential trajectory is depicted by the white lines. In the event of a successful breakout, my neural networks suggest target prices of 1.095 or even 1.100. Technical Indicators The fluctuating volume below the channel indicates increasing volatility. Noteworthy bullish indications include the price consolidating above EMA 20, the RSI crossover below on the RSI indicator, and the strong uptrend of MACD since December 7th. Disclaimer: I would like to emphasize that this communication does not constitute investment advice. I strongly urge you to conduct thorough research before making any trading decisions. It is essential to recognize that your funds are your responsibility, and past performance does not guarantee future results. Sincerely, Ely
Long
by Elysian_Mind
2
AAVE/USDT Trading IdeaWe're discussing the development idea in the accumulation phase for the AAVE/USDT crypto pair. In June 2022, there was a notable decline in the asset, hitting a local bottom of the existing bearish trend at $45.80. However, it confidently surged from this level, reaching $115.27, showing over a 150% increase . Later on, the asset chart displayed the formation of a descending triangle, accompanied by significant trading volumes. Currently, we observe AAVE's price breaking out of the described triangle and starting to trade within an ascending channel , confined by values from $115.27. This might indicate a potential continuation of the accumulation phase with a possible price squeeze toward the local maximum. Hence, the present trends and price chart structure suggest interesting dynamics in the asset's movement. Considering these trends, it's conceivable that the asset is preparing to surpass the local maximum of $115.27, paving the way for further upward movement. The initial target for this upward trend could be the strong resistance level at $200. If this level is successfully breached and bullish pressure is sustained, the subsequent potential target could be around $260.
Long
by Rick_SimpleSwap
2
Volume-Driven Opportunity on FUNUSDT: Potential 150% Profit🚀 Trade Overview: I've identified an exciting trading opportunity on the FUNUSDT pair on Binance, leveraging the power of volume analysis for potential substantial gains. 📈 Entry Point: Initiate the trade now at 0.006239. The decision is rooted in the belief that volume is the true catalyst for market movements, as opposed to relying solely on price action. 🎯 Exit Point: Set your exit target at 0.015715, aiming for 150% profit. This target is strategically chosen based on the volume analysis, which suggests strong potential for significant upward movement. 🔍 Analysis Method: The entire analysis is grounded in a robust examination of volume trends. Understanding that volume precedes price, this approach allows for a more proactive and insightful trading strategy. 📣 Disclaimer: Trading involves risk, and past performance is not indicative of future results. This idea is for educational purposes only. Always conduct your own research and consider your risk tolerance before making any financial decisions. 👉 Note: This trade idea is based on the analysis of the volume, providing a unique perspective on market dynamics. As with any trade, it's essential to stay informed, adapt to changing conditions, and make decisions based on a comprehensive understanding of the market. Good luck, and may the markets be in your favor! 🌐📈
Long
by ThirdEye_Investment
2