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Stellar (XLM) vs. Tether (USDT) Daily Chart Analysis In today’s analysis, we delve into the daily chart of Stellar (XLM) against Tether (USDT). This chart provides a comprehensive view of the current market dynamics and potential future movements of XLM/USDT, which is crucial for traders and investors in the cryptocurrency market. Key Observations Trend Lines and Breakouts: The chart shows that XLM/USDT has recently broken out of a descending trend line, indicating a potential shift from a bearish to a bullish trend. Currently, the price is testing an ascending trend line as support, which is a positive sign for further upward movement. Support and Resistance Levels: A yellow box above the current price level marks a potential resistance area or profit target. This suggests that if the price continues to rise, it may face selling pressure around this zone. Conversely, a red box below the current price level indicates a possible support area or stop-loss zone. This level is crucial for traders to watch, as a break below this could signal further downside. Indicators: MACD on OBV (On-Balance Volume): The MACD applied on the OBV indicator is showing bullish momentum, with the MACD line above the signal line. This supports the potential for further upward movement. Potential Scenarios Bullish Scenario: If XLM/USDT continues to hold above the ascending trend line and breaks through the resistance marked by the yellow box, we could see a significant rally. Traders should look for confirmation from the MACD on OBV and RSI indicators to support this move. Bearish Scenario: If the price fails to hold the ascending trend line and breaks below the support marked by the red box, it could lead to further downside. In this case, traders should be cautious and consider setting stop-loss orders to manage risk. Conclusion The XLM/USDT daily chart presents a promising outlook for Stellar, with key technical indicators and trend lines suggesting potential upward movement. However, traders should remain vigilant and watch for confirmation from support and resistance levels, as well as the MACD on OBV. By staying informed and prepared, traders can make more strategic decisions in the ever-volatile cryptocurrency market.
Long
by stocktechbot
USD/JPY Day Trading Analysis With Volume ProfileOn USD/JPY it's nice to see a strong sell-off from the price of 146.12. It's also encouraging to observe a strong volume area where a lot of contracts are accumulated. I believe that sellers from this area will defend their short positions. When the price returns to this area, strong sellers will push the market down again. The downtrend combined with the strong volume area, along with the presence of a fair volume gap and a strong rejection of higher prices, are my main reasons for this short trade. Happy trading, Dale
by Trader_Dale
Crude Oil continues the downtrendOn Crude Oil , it's nice to see a strong sell-off from the price of 69.660. It's also encouraging to observe a strong volume area where a lot of contracts are accumulated. I believe that sellers from this area will defend their short positions. When the price returns to this area, strong sellers will push the market down again. The S/R zone from the past and high volume cluster are the main reasons for my decision to go long on this trade. Happy trading, Dale
FX:USOIL
by Trader_Dale
Analysis of the Bitcoin on a 1-day timePrice Level: Bitcoin is trading around $64,960 at the time the chart was taken, showing a decline of about 1.82%. SMA 200: The blue line represents the 200-day Simple Moving Average (SMA), which is a widely used indicator to assess the overall market trend. The SMA is currently positioned around $63,712, which is slightly below the current price. This suggests that BTC is still maintaining a bullish trend since it's trading above the long-term moving average. Price Channel: Descending Channel: The yellow channel on the right side of the chart highlights a bearish flag or descending channel pattern. Prices are oscillating between the upper and lower boundaries of this channel, with multiple rejections at both ends. The top boundary of the channel has consistently acted as resistance, preventing any breakout above the $65,000 range. The bottom boundary acts as support, protecting prices from falling too far below the $60,000-$62,000 region. This indicates consolidation within this bearish pattern, and the upcoming moves will depend on whether the price breaks out of this channel to the upside or downside. Support and Resistance Levels: Horizontal Support at $56,487: There’s a clear support level around the $56,487 mark, as indicated by the horizontal blue line. This level has previously acted as a point of reversal for Bitcoin, suggesting that if the price were to break below the current channel, the $56,487 area could provide a strong support zone. Trendline Support: A long-term ascending trendline is drawn in white, starting from the lows around mid-2022. This rising trendline suggests a higher-low structure and could serve as a dynamic support level. If the price falls below the horizontal support around $56,487, the next major support could be found along this upward trendline, which intersects around the mid-$50,000 range. Moving Averages: 200-day SMA Positioning: The fact that BTC remains above the 200-day SMA signals a continuation of the broader bull market. However, a decline toward this moving average (around $63,712) might indicate a retracement or consolidation before a potential upward move. Recent Price Action: Short-Term Bearish Sentiment: The price is still trading within a descending channel, and without a confirmed breakout above this channel, the overall sentiment for the short-term remains bearish. Watch these channels closely for breakouts. A break above the channel’s top boundary would likely signal a bullish continuation toward higher levels (e.g., $70,000+). A break below the channel could lead to a significant drop, potentially testing the $56,487 level or the ascending trendline support. Volume and Market Sentiment: Volume Decline: The declining volume in the recent days suggests that the price movements within the channel lack strong momentum. This is often a signal that a bigger move is about to happen, either a breakout or breakdown from the current consolidation pattern. Long-Term Trend: Bullish Longer-Term Outlook: While the short-term pattern suggests consolidation and possible downside risk, the larger trend since mid-2023 remains bullish as indicated by the overall higher lows. The presence of the ascending trendline offers confidence that any near-term corrections might be temporary unless we see a breakdown below the major support zones. Conclusion: Immediate Range: The price is currently at a critical point in the descending channel around $65,000. Watch for a breakout above this channel for further bullish confirmation. If the price breaks above $65,000 convincingly, a new bullish wave could take Bitcoin towards new highs. A break below the channel, especially if combined with a move below $60,000, might lead to a deeper correction toward $56,487 or even lower toward the ascending trendline. Overall, while there is potential for both upside and downside in the short-term, the long-term outlook remains bullish, with strong support levels below that could offer buying opportunities if the price retraces further.
GEMINI:BTCUSD
by Stoxello
1
Weekly Forecast - Dollar Sell-off Looks AttractiveWhile price has been largely corrective on the dollar, price continues to trade lower in that corrective manner so instead of anticipating the deeper correction (which will come sooner or later), We should focus on what price is doing right now and trade accordingly. GBPJPY & USDJPY both had aggressive sell-off's out of key daily areas last week, which makes achieving the daily downside targets highly probable. I'll be monitoring the current correction on both these pairs for continuation lower. EURUSD & AUDUSD are both not on watch due to daily upside targets being achieved and no longer trading within a daily range as per my plan so I'll be risk off on these until the respective 4H structure's shift to the downside and a counter-trend is established towards fresh 1D EPD. Further upside appreciation can be expected on both these pairs in line with the DXY bias.
Long
by The_Modern_Day_Trader
LOOKS token to print a 10,000% move?On the above 4-day chart price action has corrected 99% since January 2022. A number of reasons now exist to be long, including. 1) Price action and RSI resistance breakouts. 2) Multiple oscillators print positive divergence with price action. The higher the time frame you go the stronger the divergence. 3) While the market has been in full panic mode volume has only increased on this token. I don’t know why. Every sell off is met with a large volume increase. 4) Not listed on major exchanges. Get in before crowd. 5) The falling wedge forecast. The forecast is measured from the highest to the lowest touch points. (Red circles). This is how a target from a wedge is forecast. Is it possible price action continues correcting? Sure. Is it probable? No. Ww Type: trade Risk: <=6% Timeframe for long: Yesterday Return: 100x
Long
by without_worries
50
Technical Analysis on JD.comJD.com has experienced a strong bearish trend since February 2021, reaching its lowest point in 2024, near the support area of $20, with an overall loss of about 80% of its value. By conducting a volume analysis using the Volume Profile of the entire history, we can see that JD.com was recently rejected from a significant support level, POC 1, around the $25 price zone, also breaking the descending trendline. This provides a strong signal for a potential reversal. In a short time, the stock has reached another important volumetric area, POC 2, which could act as the first resistance level. At this point, we might observe the first reaction of price rejection. Considering the broader momentum, particularly the economic situation in China, the stock may quickly overcome this resistance. If JD.com moves above POC 2, it would likely face few obstacles in reaching the next resistance level (R1) just below $70, given the low trading volume in this price range.
NASDAQ:JD
by Giovanni_Bandini
2
AUDUSD. Medium and short term analysisHello traders and investors! The price reached the target of the forecast from April. Some medium-term forecasts take a long time to come to fruition. It creates the impression that medium-term forecasts always come true. You can use the following criterion to consider a forecast fulfilled: ensure that the price does not break the last local extreme before reaching the target. If this condition is met, the forecast can be considered successfully realized. In the April forecast, the last local extreme is point 5 of the sideways range (0.62701). Weekly Timeframe Analysis Let me remind you that on the weekly timeframe (TF), a sideways range has been forming since January 2023 (point 4). The lower boundary is 0.61699, and the upper boundary is 0.71577. Formally, the buyer has reached the target of the 5-6 vector (0.69205), and there are no signs of reversal yet. The last two weekly candles show increased volume, with small buying wicks. However, the price is currently in the seller's contextual area (the upper range of the weekly TF sideways movement), but the seller is not utilizing this volume yet. Daily Timeframe Analysis On the daily TF, a sideways range has been forming since August 24 (point 4). The lower boundary is 0.63478, and the upper boundary is 0.67985. The buyer's 4-5 vector has broken through the upper boundary of the range. For three days, the price has been unable to break through the level marking the start of the last seller's sub-impulse on the weekly TF (0.68996). Below, the buyer is defending the breakout of the last sub-impulse seller level on the daily TF (0.68239). For the last two days, the buyer has applied increased volume with no result. On the other hand, the price is in the seller’s contextual area (the upper range of the weekly TF sideways movement), so the seller should be evaluated first—and so far, the seller is absent. Highlight: • There are no signs of the seller on either the weekly or daily TFs to justify looking for mid-term sales. A sign of the seller could be a return of the price to the daily TF sideways range and the seller defending that return. • There is no context for mid-term buys, as the price is in the upper part of the weekly TF range (a seller's contextual area). 2H Timeframe Analysis For short-term buys or sells, you can use, for example, the 2-hour TF. On this TF, there is a sideways range, with the seller’s 7-8 vector being active and the potential target at 0.68179. The seller has returned the price to the range (below 0.69081), forming a seller’s zone above (marked by a red rectangle on the chart). Sales can be considered. When selling, monitor the price's movement around 0.6868 and 0.68625. Purchases can be considered from the lower boundary of the range (0.68144) if the buyer defends it. Good luck with your trading and investments!
by AlexeyWolf
Golar – naturally gas lit, or weighed by liquefication? Natural Gas has been flying lately, and I have a feeling GLNG has been lagging. This is a company that liquefies natural gas at sea, and they are a world leader at this. Looking at the daily chart the stock has been in consolidation since mid-June, until it broke out of the channel two days ago. MACD, OBV and RSI are aligning, and the EMA20 has crossed up over EMA50. I feel this is a breakout, and it happened on high volume. ATH was $62.62 all the way back in Oct 2014, and the current price is the highest since June 2015 ($50.85). Realizing the trimester up to and including October often is the peak of natural gas, I believe we could see more upside to this stock. Seeing as there are no obstacles until $50.85 this is where I will place my target. This is a 35% upside from today, so obviously keep track and follow world events for potential exit levels prior.
NASDAQ:GLNGLong
by WeRideAtDawn
2
MU Update: Ready to Test New Highs?Continuing from my last two ideas on NASDAQ:MU , the double-bottom formation still has potential. There's an unclosed gap around $123 that should be closed, and I see similarities between the earnings surge back in March and the current one in September. If this plays out, my price target is $137.13, with a possible test of the all-time high at $157. My Trade Plan: I'll be looking for a retest of the 150-day MA for support before entering, aiming for ~20% profit. However, it's crucial to monitor the volume closely. What are your thoughts? Are you bullish or bearish on MU, and where do you see it heading next?
NASDAQ:MULong
by elka_graph
2
The USDJPY correction is coming to an end H4 26.09.2024The USDJPY correction is coming to an end The yen is now forming a correction and the price has hit the marginal resistance zone around 145. From it I expect a bounce down to test the lower boundaries. Also, there was a rotation in the area of the zone in the past and periodically rebounds were made. Therefore, there is a probability that this time they will be able to bounce down at least locally. I don't see the options falling further than 139, but I aim for 140 approximately. OANDA:USDJPY
Short
by KovachTrader
2
MCD Mcdonalds is breaking out of the rectangle.MCD stock is breaking out of the rectangle with the 13 days Elders Force Index above 0. This is a good signal to Buy and set the target as the height of the rectangle shape The rectangle pattern forms when the price moves within two horizontal lines—one acting as resistance (upper line) and the other as support (lower line). This typically indicates a period of consolidation where buyers and sellers are in relative equilibrium. Duration: The rectangle can last for a few weeks to several months, depending on market conditions. The longer it lasts, the more significant the potential breakout may be. This breakout is significant as it has lasted for many months on end. Direction of Breakout: Bullish Breakout: If the price breaks above the resistance level, it suggests that buying pressure has overcome selling pressure, potentially indicating the start of an upward trend. Volume Confirmation: A breakout is more reliable if accompanied by increased trading volume. High volume during the breakout suggests strong interest and conviction among traders, lending credibility to the price movement. This is why we use the 13-day Elders Force Index Psychological Factors: Breakouts often attract attention from traders and investors who may see the movement as a signal to enter or exit positions. This can create momentum in the direction of the breakout. Conclusion In summary, a breakout from a rectangle pattern signifies a shift in market sentiment and can lead to a new trend. Traders watch for these breakouts closely, as they provide opportunities for profit, but it's essential to consider confirmation through volume and other technical indicators to avoid false signals.
NYSE:MCDLong
by lawmuic
Unlocking the Technical Tapestry of ZEELAs we delve into the intricate world of stock market charts, ZEEL presents an intriguing case study in its daily trading canvas. A descending trendline dominates the landscape, artfully connecting lower highs and painting a picture of restraint in bullish momentum. This pattern suggests that sellers have consistently entered at lower price points, applying downward pressure on each attempted rally. Beneath this overarching theme lies a battleground marked by trend line representing key support and resistance levels. This line is testament to the tug-of-war between buyers holding ground and sellers pushing back, encapsulating zones where significant transactions have historically occurred. Amidst this struggle for supremacy, volume bars stand tall like sentinels at the bottom of our view, their peaks and troughs offering clues about trading intensity at various price points. A surge in volume accompanying price movements can often signal strength behind those moves. Complementing our visual saga is a unique application of technical analysis: MACD applied to OBV (On-Balance Volume). This combination provides a nuanced view of momentum and volume flow. The MACD on OBV helps traders identify shifts in buying and selling pressure, offering a deeper insight into the underlying strength of price movements. When the MACD line crosses above the signal line on OBV, it can indicate increasing buying pressure, while a cross below may suggest rising selling pressure. In summary, ZEEL’s current technical setup paints a cautious tale with bearish undertones as evidenced by its descending trendline. However, within this framework lies opportunities – moments where support holds firm or resistance gives way could signal pivotal shifts worthy of an investor’s gaze.
NSE:ZEELLong
by stocktechbot