TSLA: Key Points for the short/mid-term!Hello traders and investors! Let’s see how Tesla is doing today!
We have a short-term bull trend in the hourly chart, as the 21 ema is pointing up and it is trading above its supports, namely the red and blue lines, which are strong price levels for Tesla.
For now, the green line at $ 428.08 is the next resistance to be defeated, and above this point, the bull trend gains strength. The situation would get complicated for Tesla only if it loses its supports, then the $ 360 would be the target for it.
But, as far we don’t see lower highs/lower lows, the trend will remain bullish, and the $ 461 is the current target.
Let’s see the daily chart for more clues:
The main trend is bullish, but Tesla had been moving sideways since the beginning of this month, which is normal, as the whole stock market is losing strength now. As we already discussed, Tesla’s chart is highly correlated to Nasdaq Composite , and the lack of primary drivers only makes things more complex.
The 21 ema is still flat, and the volume decreased in the last few days.
The $ 359 region seems to be a strong support for the stock and is very close to the $ 360 support seen in the hourly chart. Any pullback to this region would be interesting.
These are the most important points to keep in mind right now, and if you liked this analysis, please, support it ! And I invite you to follow me to keep in touch with my daily updates!
Trade well, and stay safe!
21ma
AMZN: What to do with it now?Hello traders and investors! Let’s see how AMZN is performing today!
In the hourly chart we have a Symmetrical Triangle , and it could do a breakout in any direction, so we need to work with some scenarios.
A downwards breakout would lead AMZN to $ 2961 again, which seems to be an important price level, as it is a previous support , and is the same point that it filled a gap in the recent past.
On the other hand, AMZN could trigger the pivot point at $ 3066 (green line) and do an upward breakout of this triangle to the black line around $ 3133.
How realistic are these targets? Let’s see the daily chart for more clues:
Well, the $ 3130 level worked as a support recently, and is now working as a resistance. Also, the 21 ema is close to this level, making it a strong resistance for AMZN, and an interesting target to aim, both in the hourly and daily charts.
While the $ 2961 is an interesting target in the hourly chart, the daily chart suggests a sharper correction. The stock could drop to the $ 2887 to retest its bottom level again, before it could do something interesting in the future.
But right now, AMZN is in a Trap Zone , between its support and its resistances, while the 21 ema is descending and it is getting closer to the price. In the future AMZN will do its movement, but as long as it keeps inside the Trap Zone, we must be careful and set our targets tight.
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Have a great weekend.
SPY Daily S/R| 21 MA| Bearish PA|Low Volume|.618 Fibonacci Evening Traders,
Today’s analysis – SPY- confirming support on Daily S/R, short term bounces are likely to respect .618 Fibonacci.
Points to consider,
- Bearish price action
- Daily S/R (Support)
- .618 Fib Resistance (21 MA Confluence)
- RSI below 50
- Stochastics buy cross
- Volume below average
SPY’s immediate price action is bearish from swing high; this allows us to have a bearish bias.
The Daily S/R has held as support, price action respected the 200 EMA in confluence.
An immediate rejection is plausible at the .618 Fibonacci in confluence with the 21 MA. Price action is likely to range between local S/R and Daily S/R.
The RSI is currently below 50, indicative of short term weakness. Current stochastics is showing a buy cross which has coincided with the immediate bounce.
Volume profile is currently below average, price action rising on low volume is typically bearish, thus an influx is probable.
Overall, in my opinion, this short term bounce is likely to respect the 21 MA on first attempt. Price is likely to range between Daily S/R and Local S/R.
Hope this analysis helps
Thank you for following my work!
And remember,
Timing, perseverance, and ten years of trying will eventually make you look like an overnight success. – Biz Stone
AAPL: Another Dead Cat Bounce?Hello traders and investors! Let’s see how Apple is doing today!
First, AAPL is doing a pullback, as we’ve been warning here since the beginning of this month (links to previous AAPL analysis below) and the hourly chart is still very bearish.
It lost the support around the pink line at $ 110, and now it is trading under the 21 ema, doing descending tops and bottoms . There is no reversal sign ahead, and it seems the bear trend will persist a little longer.
Let’s see the daily chart for more clues:
Apple just filled one of its gaps (blue area), which we have been talking about since my last analysis, on Sep. 10, and today’s candlestick is the least positive (so far), which is also normal, as the gap will work as a support in the short-term.
But today’s candle could be just a quick rally in the hourly chart, a characteristic of a Dead Cat Bounce pattern. Unless we don’t see a clear reaction on AAPL in the next few days, the $100 (middle pink line) will be the next target for it.
Unless Apple starts trading above the 21 ema in the hourly chart again, and starts doing ascending tops and bottoms , the bearish momentum will continue, and so far, the reaction didn’t come.
But I confess if today’s end up being a Piercing Line pattern I would see a little light at the end of the tunnel, but it is too soon to say this. And if you liked this analysis, please, support it ! And follow me to keep in touch with my daily analyses!
Trade well and stay safe.
TSLA: Will the bull trend prevail? Let's see.Hello traders and investors! Ok, Tesla did a fantastic movement today! Let’s see what’s going on with it.
First, the hourly chart suggests that Tesla just did a retest of one of its supports (red line around $ 408) and the price bounced up again above the purple trendline and above the 21 ema, and only if Tesla loses these two points the bull trend will get weaker.
Also, as long it continues to trade between these two red lines, nothing new will happen to Tesla, as they are the most important Pivot Points for the stock right now.
Now, let’s look at the daily chart:
It is interesting to note that the retest of the lower red line coincides with a pullback to the 21 ema in the daily chart, reinforcing our view that this is an important support for TSLA.
The stock is still in a bull trend, and I see no clear reversal signs at it . Only if Tesla loses the 21 ema again and triggers the pivot point at $ 408 we’ll see a reversal sign. Until then, it seems the stock is just doing a correction.
If it defeats the upper red line ($461) the next target is the All Time High again. Let’s see how TSLA will behave next, and if you liked this analysis, please, support it ! And follow me to keep in touch with my daily analyses! I’m sure you’ll find something you like around here.
Either way, today's candlestick is quite powerful. It is leaving a huge shadow under the candle's body, and this means a lot to me. I always tell you, shadows are like scars on the chart . The bears dominated for a while, but the bulls pushed them away, far from its support level - a reminder that there are buyers at that zone . Each candlestick tells us a story, and I'm looking forward to seeing the outcome of today's battle.
Stay safe.
BTCUSD Scalp |H1 Double Bottom|Dynamic Resistance|.618 Fib|RangeEvening Traders,
Today’s analysis – Scalp opportunity on BTC, following are technical points to consider,
- Range low double bottom
- Dynamic Resistance breached
- .618 Fibonacci retest
- 21 MA support
- Range high target
A double bottom deviation back into range shows demand below range support, this is considered bullish.
The Dynamic resistance in confluence with the 21 MA has breached with recent impulse, first time since the down trend. The 21 MA is now considered support – S/R Flip.
A backed test and hold of the .618 Fibonacci is bullish, allowing for a risk defined entry.
Price action immediate target will be range high. It is important to monitor volume to avoid fake outs.
Hope this analysis help!
Thank you for following my work!
And remember,
“Trading effectively is about assessing probabilities, not certainties.” ― Yvan Byeajee
ADAUSDT Weakness| Weekly S/R| 21 MA| Low Volume| Bearish Retest Evening Traders,
Today’s analysis – ADAUSDT – likely to retest lower weekly S/R before trend continuation, price action is currently bearish.
Points to consider,
- Local S/R Flipped
- 21 MA Resistance
- Oscillators below 50
- Below average volume
- Lower Weekly S/R Retest
ADAUSDT has lost local S/R, any rallies into it are considered a bearish retest, this allows for an immediate bearish retest.
The 21 MA is in confluence with local resistance, this further solidifies the area as a trade location.
The oscillators are both below 50, the RSI not being officially oversold is indicative of further momentum down.
ADAUSDT has below average volume; price action is currently in an equilibrium that will break with an influx.
Overall, in my opinion, ADAUSDT respecting local resistance with a bearish retest will allow for a short trade. Price action must be used upon discretion/ management of trade, the immediate target it lower Weekly S/R.
What are your thoughts?
Thank you for following my work!
And remember,
“You become fearful the moment you identify with fear. But once you begin seeing it as an impersonal changing phenomenon, you become free.”
― Yvan Byeajee
SXPUSDT Local S/R| Dynamic Resistance | Swing High| Daily S/R Evening Traders,
Today’s analysis – SXPUSDT – breaking dynamic resistance with swing high immediate target, local S/R must hold as support.
Points to consider,
- Local S/R Flip retest
- Dynamic resistance breached
- 21 MA support
- Oscillators above 50
- Volume below average
SXPUSDT is trading above local resistance, respecting this level will confirm an S/R Flip allowing for trend continuation.
The dynamic resistance has been breached with candle closes above it. This is an early sign of a trend change occurring.
Current support is the 21 MA, price respecting this will give us a visual guide in reaching swing high target.
The oscillators are above 50 mid-point, this shows strength in the market allowing for a short term bullish bias.
The volume is currently below average, an influx is highly probable as this is a key trade location.
Overall, in my opinion, SXPUSDT is likely to hold local S/R Flip retest. This allows for a long entry with defined risk. Price action must be used upon discretion/ management of trade.
What are your thoughts?
Thank you for following my work!
And remember,
“Why do you think unsuccessful traders are obsessed with market analysis? They crave the sense of certainty that analysis appears to give them. Although few would admit it, the truth is that the typical trader wants to be right on every single trade. He is desperately trying to create certainty where it just doesn’t exist.” – Mark Douglas
BNBBTC S/R Flip| .618 Fibonacci| 21 MA| Swing HighEvening Traders,
Today’s Analysis – BNBBTC – respecting weekly support and breaking above a key daily level, swing high is the immediate target.
Points to consider,
- Local trend impulse sell (oversold conditions)
- Macro weekly support
- Technical confluence (.618 Fibonacci & 21 MA)
- Oscillators overextended
- Volume below average
BNBBTC impulse sell lead to an oversold bounce from key macro weekly support, this relief rally gives us a short term bullish directional bias.
The daily has multiple technical confluences, the .618 Fibonacci and the 21 MA. Price is likely to put in a retest for a confirmation of an S/R Flip. Price acceptance will increase the probability of testing swing high.
The oscillators are both overextended; a retest of the daily level will bring them back to neutral territory. This is healthy for the overall short term trend.
Current volume profile is below average, an influx is probable when testing daily support. Follow through in volume is important for trend continuation.
Overall, in my opinion, an S/R Flip retest will allow for a valid long entry into swing high. Price action is to be used upon discretion / management of the trade. Price breaching daily support will negate the trade idea.
What are your thoughts?
Thank you for following my work!
And remember,
“A quiet mind is able to hear intuition over fear.” ― Yvan Byeajee
XLMUSDT Neckline Resistance|Inv. Head & Shoulders|Volume InfluxEvening traders,
Today’s Analysis – XLMUSDT – breaking its neckline resistance, a retest will allow for a long entry with defined risk.
Points to consider,
- Trend bullish (higher lows)
- Macros resistance breached (H&S Neckline)
- 21 MA support (visual guide)
- Oscillators overextended
- Strong volume influx
- Neckline retest (long entry)
XLMUSDT’s immediate trend is bullish by establishing consecutive higher lows, a higher high has been confirmed by breaking neckline resistance.
A retest of the neckline will confirm structural S/R Flip, solidifying the level and allowing for a risk defined entry.
The 21 MA is immediate support; this can be used as a visual guide for trend continuation.
Oscillators are both in overextended regions; a retest of the neckline will direct them back to neutral territory.
Volume influx has been significant on the break of the neckline resistance. This indicates a true break of the level, continuation is highly probable.
Overall, in my opinion, a long trade is valid with defined risk; an optimal entry will be at the neck line retest.
The 21 MA is to be used as a visual guide for the trade.
What are your thoughts?
Please leave a like and comment,
And remember,
“Trade the market in front of you, not the one you want!” – Scott Redler
BTCUSDT Dynamic Resistance|Bullish Divergence|.618 Fib|PA Evening traders,
Today’s Analysis – BTCUSDT- a probable swing trade, signs of a short term bullish bias as price shows strength, breaking dynamic resistance is a long.
Points to consider,
- PA Demand (.618 Fibonacci Level)
- Dynamic resistance/support converging (Apex)
- 21 MA visual guide
- Oscillators diverging
- Volume below average
BTCUSDT’s price action shows that there is demand below key Fibonacci levels, mainly the .618 level.
This gives us a short term bullish bias on the market as price action shows strength.
The Dynamic resistance and supports are converging; price will have to break out of its apex sometime before 18th July.
The 21 MA can be used as a visual guide for when the breakout occurs, price is likely to trend of it.
Oscillators are both diverging from price; this shows immediate strength in the market, remaining above the 50 level is bullish.
Volume needs to increase upon a breakout, this will help dictate the strength off the move and avoid fake outs.
Overall, in my opinion, BTCUSDT will have a volatile move from its apex. A break of the key dynamic resistance allows for a valid long with defined risk. Any moves are to be backed with increasing volume to avoid fake outs.
What are your thoughts?
Thank you for following my work!
And remember,
“If you don’t respect risk, eventually they’ll carry you out.” – Larry Hite
ETHBTC |Key Level | Apex | Double Bottom Today's analysis – ETHBTC – consolidating at local support, nearing its apex as resistance converges
Points to consider:
- Trading at a key level (Apex)
- 21 EMA (visual guide)
- Double bottom
- RSI neutral
- Stochastics overextending
- Flat volume
ETH is trading at a key pivotal level, as support and resistance converge, a break in either direction is imminent. Price failing to break in either direction with multiple failed attempts substantiates both, local support and resistance as strong levels, indicative of the apex conducing high volatility.
Further price development will allow the 21 EMA to act as a visual guide assisting determine the immediate direction of the market. Price trading above the EMA perceived bullish and below considered bearish.
A possible double bottom formation is feasible and solidified with a bullish break of the down-sloping resistance, however, a break bearish below local support will negate the pattern.
RSI is neutral, further price development will allow for directional bias, coinciding with the probable breakout.
Stochastics are reaching oversold conditions and may remain oversold for some time, however, a valid buy cross will indicate momentum shifting on the macro time frame with stored momentum to the upside.
Volume is flat and has been average for some time, usually indicative of an influx being imminent, likely to coincide with the breakout.
Overall, in my opinion, ETHBTC is consolidating at a key level with impending volatility expansion, validating a trade in either direction as price breaks from its apex. Technical targets being daily resistance (long) or daily support (short).
What are your thoughts?
If you’ve read this far - thank you for following my work!
And as always,
Focus on you, and the money will too!
VETUSDT | Double Top | S/R Flip | Volume Climax Todays Analysis – VETUSDT – Ranging within support and resistance
Points to consider:
- Weekly resistance
- S/R Flip
- .382 Fibonacci Retracement
- 21 EMA (visual guide)
- Volume Climax
- Oscillators Neutral
VETUSDT is consolidating within structural support and double top resistance after putting in a successful S/R flip re-test.
A long trade will be validated upon body candle closes above weekly resistance or a short trade upon body candle closes below structural support.
The .382 Fibonacci retracement acting as support in confluence with structural support needs to hold for a bullish continuation.
Price action respecting the 21 EMA as it breaks in either direction will act as a visual guide, assisting in trade management.
VeChains recent volume climax as it broke above resistance levels is indicative of buyer exhaustion as price balances supply and demand. The current volume is below average, a sustained increase in volume will allow for decisive price action in either direction avoiding any false breaks.
Oscillators are neutral, further price development will allow for directional bias.
Overall, in my opinion, further price development is needed and a break in either direction supported by volume validates a trade.
What are your thoughts?
If you’ve read this far, I’d like to thank you for following my work and development as a trader!
As always,
Focus on you, and the money will too!
GOLDEN CROSS FAKEOUT?!We were extremely close to a golden cross on the S&P 500 but todays price action puts this into question. It is starting to look like a major fakeout. Are we going to make a lower low? I dont know, currently we still have 21 EMA on the weekly as support. And with price action above 21 EMA i can’t exacly be looking for a lower low be set.
RLCBTC Weekly Falling Wedge|Local Resistance|Technical Target
Evening Traders,
Today’s Analysis – RLCBTC – breaking out of its falling wedge , it needs to establish a weekly candle close above resistance for further continuation.
Points to consider,
- Local Resistance (Key level)
- 21 MA (Visual support)
- Technical Target Confluence
- Stochastics Buy Cross
- RSI Breaking 50
- Increasing Volume
RLCBTC needs to close this weekly candle above local resistance, this will allow for the smaller time frames to back test the level (S/R flip retest) for a long entry.
The 21 MA will act as a visual guide; price trading above this indicator will be very bullish .
The target for the falling wedge is in confluence with structural resistance – discretion needs to be used here for when taking profits.
Stochastics has a valid buy cross, indication of momentum shifting on the macro time frame. The RSI is attempting to cross above 50, trading beyond this level will indicate increasing strength in the market.
Volume is noticeably increasing, this must sustain on the weekly time frame from continued follow through.
Overall, in my opinion, RLCBTC next most important move is closing above local resistance on the weekly. This will validate a true break of the falling wedge and allow for a risk defined entry.
What are your thoughts?
Please leave a like and comment,
And remember,
“There is no single market secret to discover, no single correct way to trade the markets. Those seeking the one true answer to the markets haven’t even gotten as far as asking the right question, let alone getting the right answer.” – Jack Schwager
ZECUSD Leading The Way?ZecUSD Reclaimed 1H 200MA Sitting idly by at 29.0 flat.
Looking at every alt and major coin, everything looks like it is posturing to do the exact same thing ZEC just pulled off.
Zec Will retest its 21 and 50 1H MAs then attempt higher again.
If it holds a 4H bar above the 50Ma Things start looking much better above.
ETHUSDT 1W PoloniexETH now does not look very good for continuing the previously taken growth trend, however, the whole prospect is ahead. 21 MA takes on the role of super support for this asset, and right now the price is trying to find this support.
BTCUSD 1W CoinbasePrice tested 21 MA. This moving is in the role of support in the bull market and in the role of resistance in the bear market. This time, we observe how the price broke through this moving after the bear and is held above it.
EURUSD Trade Idea1. Price is trending up
2. 21 MA pinned
3. Support of 1.13 pinned by hammer
Buying @ market price 1.13088
SL @ 1.12890 below the pin bar
TP @ 1.14123 at resistance
As usual don't bet the farm, good risk management won't kill you but the lack thereof could :)
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Bitcoin has a make a big decision in the coming weeks!Bitcoin is about to come in contact with the 21 Week MA (blue top line + yellow dotted line projected direction) which historically, we have not been able to stay above during this bear market. Since the crash in January, we have only been above the 21 Week MA 3 times and never for more than a week. In addition, if you extend out the top line of the meme triangle, it is almost exactly in line with the 21 week MA. Add to the fact that it is converging with the 200 Week MA (red bottom line + projected direction) in less than a month and bitcoin is going to need to decide which way it's heading asap.
If we do cross the 21 week MA and stay above it for more than a week than I will be happily wrong and switch from bearish to bullish.
What do you think: Get above the 21 Week MA and stay there OR break the 200 Week MA?
Bitcoin has to make a very hard choice this month!Bitcoin is nearing the 21 week MA which it hasn't been above since July 2018 and that was only for about a week. In fact we haven't touched the 21 week MA since October 2018 and we all know what happened afterwards. The 21 week MA and 200 week MA will be intersecting near the end of March/early April and Bitcoin will have to make a choice.
using bollinger bands to target long/short entries on bitcointhis technique works best when the trend is moving up or down, sometimes the calls made on the mid line during sideways can be risky but with other TA such as EW, Fib and MA/EMA you should be able to gauge where you are and use this method as confirmation to your trades.
using bars; we are waiting for the bar to close above (long) or below (short) the mid 20ma or 21ma, once the bar has closed the signal to short or long is confirmed.
the potential profits shown after the bar closes with confirmation are shown in the green box. obviously when there is clear trend the profits are decent, during sideways they are smaller but it would be down to you to use other indicators and the lower and upper bbands to gauge when to enter if not already in a trade (or get out if youve made the wrong call).
have a look and see if it works for you. enjoy
