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ETHUSD - Looking for a Corrective RetracementTF: 8 Hr Possible H and S formation on the 8 hr TF. This has formed after a strong rally, and price may due for a corrective pullback. I think a retracement to the .318 looks like it may be a good area to look for longs. This retraement area offers a few bullish confluences: 1. Area aligns with with a former broke resistance zone; 2. The 0.382 corrective retracement area is also located here 3.Aligns with a new bullish trend line Dollar weakness looks like it may continue for the longer-term which will drive cryptos upwards. The DXY (dollar index) looks very oversold and may need to correct a bit more up which would allow ETHUSD to retrace.
GEMINI:ETHUSD
by MC_Mike_Trading
WORK aka Slack unfortunate downward channelWORK aka Slack was a very promising trade with the work from home (WFH) explosion driving stocks like ZOOM, PYPL, SQ, FB, AAPL, MSFT and CRM to name a few. Unfortunately WORK's performance was lukewarm, and quarterly results proved the same. With services like Zoom Video, Facebook Workplace, Microsoft Teams, Salesforce and more providing a lot of tools that compete in one way or another with Slack's tools, the business is growing steadily but is failing to see the hypergrowth curve driving market gains for its peers. The downward channel should be observed and any break out of it to the upside with volume would have a greater risk-reward trade than trying to play a $4 trade. Though, with a $1000 investment at a price of $26, one has the opportunity to scalp up to $152 with a sale near or at $30. We don't recommend any trades for those with a low appetite for risk, and we ALWAYS recommend a stop-loss, or the opportunity to cost average if you are longer-term on the stock. *Note: Risking a downside of anything more than your upside potential is never a good idea. With a chance at 15% upside, one should also assume the risk of 15% downside MAX and take the applicable stop-loss at this level. The fundamentals of this stock are sound. We'd rate it neutral or HOLD in the short-term, though your money might work for you better in another stock. Alternatively, one could argue that WORK benefits vs other technology stocks having not been "overbought" in recent months. Though, the overall weakness and slow growth make a stronger argument, as well as the general market trend to the downside which Slack's Beta has proved prior (March) to be sensitive to. If you are in the stock, getting out now or anywhere close to $30 in the short term might prove opportunity to get in at cheaper prices again. However, the long-term potential with this household name makes one want to hold a small position to take advantage of any surprise gains (For example those found regularly in tech stocks such as liquidity events (acquisition) or product releases). Disclaimer: I am not a professional, nor do I claim to know what I am doing. I chart for my own education and revealing potential trade setups. I am always open to constructive feedback and resources that you can recommend to "up" my game. Thank you!
W
by Shadowfigure
TSLA bearish? - Stock market shows weakness!Hey there, like the post please and follow me here on TV, it really helps me out! All details are explained on the chart, so please take a closer look. I won't get into detail here. Very important will be the gaps drawn on the chart in my opinion. Most likely to be filled once TSLA breaks support! The line in the sand is $1000 which will very likely hold with ease. This scenario is only likely if the stock market as a whole shows weakness over the next few days and weeks. Tesla will of course neglect my technicals, if SPY and DJI show strength. There is the possibility to take a short now, since price is being rejected of the descending trendline on the top. You could also wait for another retest of the bottom support line, a break and a short on the retest of the trendline. Thank you and all the best. Cheers, Konrad
NASDAQ:TSLAShort
by EnlightenedTrading
EUR/USD - Commercial Shorts IncomingHello Traders! Today marks a new trading week with lots of opportunity ahead of us. Upon the market opening, I've realised USD has opened extremely weak across all currency pairs. Although, I beleive this is a means to reach a certain point in the market before reversing to the downside. I've also had a look at COT Data indicating the commercials are short in the long run. What Is The Market Telling Us? Price has been ranging for just over a month (Since 4 June) after breaking out of consolidation area previously. Bullish crossover with MAs gives me an indication price is making its way towards supply zone before dropping off for SELLS We may deal with some consolidation once price has reached our supply zone as it has done in the past When Should We Enter? Look to enter for SHORTS if price is rejected by resistance level followed by bearish candles/bias If price violates our resistance level and reaches our supply zone, wait upon bearish confirmation on supply zone before SHORTING
Short
by forexwithfred
USOIL WYCKOFF'S Distribution Hello Traders! This is a WYCKOFF's pattern, currently we can see a drop That will break the AR support and will reverse back. I have also extracted exact figures from one of my strategy which tells exact figure of target and turning point in OIL and Gold, With the help of my strategy i knew about drop to exactly 1748.50 and we bought at 1749.00. We are ready to make big from USOIL also. Don't Forget to Hit the like button if you find it helpful and informative and follow to catch every wave correctly and remember to share ideas.
FX:USOILShort
by Aadil1000x
BANKNIFTY - 20500 important levels for tomorrowBanknifty looks much weaker if I compared it with nifty50 Today Banknifty closed nears its day's low and tomorrow's opening will set the tone as to where its gonna go. As I have explained in my previous post, the up-move may continue if prices stay above 20530 levels, so the levels are still intact hence I will see, how it is going to be opening tomorrow and trade for the very first hour . Currently, Banknifty Intra charts have 2 harmonic probabilities suggesting support levels as follows:- 1.) Bat Pattern: 20530- 20480 2. Shark Pattern:19080 and 18470-18340 So if the index slips below 20500, then its probably heading towards 19000 levels or below. You are Trading at your own risk, thus do not follow blindly, do your own research, please.
NSE:BANKNIFTY
by manuagarwal21
USD/CAD - Potential Further Drop After RetracementHello Traders!, Happy Monday, I hope everone's had an enjoyable weekend, despite the current ongoings with whats happening in USA and other countries What Is The Markets Telling Us? We see a massive drop off on US dollar strength, possibly due to widepread protest which will cost the country millions in repair Upon New York Session opening we can see a retest of resistance @1.3730, followed by a significant drop, MAs are above price This is a great example to show how fundamentals and technicals co-operate within the market When Should We Enter? Will be looking to execute SELLS once price has reached our retracement area Although, we may see consolidation if there is a insufficient amount of volume, or even price may not reach our retracement area All in all, before entering for a SELL, it will be ideal to see some sort of consolidation/retracement followed by bearish bias before selling
Short
by forexwithfred
CNX PHARMA - SHORT TERM TOP FORMEDPharma index has seen a rally of about 55% in the past six weeks, that's a huge and quick rally that the indexed had witnessed after a long time. The pharma index has reached a level where multiple price rejection had seen in the past [ market by circle} and this week prices resisted at the same levels. Now , it looks like would correct or we could say retrace some part of its rally that started from 6242 levels. 9800 - 9650 : Resistance zone 8200 -7900 : support zone
NSE:CNXPHARMAShort
by manuagarwal21