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November Trading Competition Chart Hello, traders. If you "Follow", you can always get new information quickly. Please click "Boost". Have a nice day today. ------------------------------------- (SPX500USD 1D chart) In order to maintain the uptrend, it must rise above 5738.2 and be maintained. Since the StochRSI indicator is currently expected to create a double bottom, if the StochRSI indicator rises in the oversold zone, it is highly likely to create a large uptrend. Accordingly, I think the 5738.2 point is a very important support and resistance point. - (XAUUSD 1D chart) BW(100) indicator is created at 2748.960, and HA-High indicator is created at 2734.472. Accordingly, the point of observation is whether it can receive support and rise around 2734.472-2748.960. - The fact that BW(100), HA-High indicators are created means that a high point section has been formed. Therefore, if it receives resistance from BW(100), HA-High indicators and falls, you should basically think that the decline is likely to continue until it meets BW(0), HA-Low indicators and respond accordingly. Therefore, whether there is support around 2734.472-2748.960 is important. - Since the StochRSI indicator appears to have entered the oversold zone, we need to check where it is located when it rises in the oversold zone and maintains the state of StochRSI > StochRSI EMA. - (XAGUSD 1D chart) The chart can be seen as already in the process of decline. However, since it is maintaining an upward channel, we need to keep in mind the possibility of creating a pull back pattern. Accordingly, the area around 3188144 is expected to be an important support and resistance zone. The HA-High indicator is created at the 32.99790 point, and the BW(100) indicator is created at the 34.86 point. Accordingly, there is a possibility that it will be restricted from breaking through the 3299790-34.86 zone upward. - (EURUSD 1D chart) I think the 1.08821 point is a very important section in the trend. I think it is likely to have difficulty turning into an upward trend until it rises above the M-Signal indicator on the 1W chart. Therefore, I think it would be advantageous to proceed with a trade after confirming support near 1.08821. - (WTICOUSD 1D chart) The oil chart is in a reverse arrangement. Accordingly, I think it would be advantageous to trade with a sell (SHORT) position. It is currently rising above 71.6167 and rising above the M-Signal indicator on the 1D chart. In order to maintain this rise, it needs to be maintained around 71.955. - HA-Low, HA-High indicators are indicators created to trade using the Heikin-Ashi chart. The fact that the HA-Low indicator was created means that a low point range has been formed. Therefore, if it is supported near HA-Low and rises, you should basically think of a response plan by thinking that it will continue to rise until it meets the HA-High indicator. The HA-Low or HA-HIgh indicators are designed to display box ranges differently from other indicators. Therefore, in order to escape the low point range formed by the HA-Low indicator, it must rise above the upper point of the HA-Low indicator box. Therefore, it can be said that it has escaped the low point range if it rises and is maintained above the Fibonacci ratio of 0.618 (72.606). - StochRSI indicator is not a universal indicator, but basically - When the StochRSI indicator is above the 50 point, you should focus on finding a time to sell, - When it is below the 50 point, you should focus on finding a time to buy. From that perspective, I think the current rise is more likely to be a rebound rather than a rise. - (BTCUSD 1D chart) The important support and resistance areas from the current price position are as follows: - 71288.90-72322.91 - 68343.64-69795.79 - 65910.71 The three areas above are important support and resistance areas. - As explained on the oil chart, since the StochRSI indicator is below the 50 point, you should focus on finding a time to buy. Therefore, if you are trading for the first time, you can trade depending on whether there is support near 68343.64. However, since the current trend is an upward trend, if you trade with a sell (SHORT) position, you need to respond quickly and briefly. - (ETHUSD 1D chart) ETH is currently moving sideways in the box section. Therefore, the trend is expected to be determined depending on which direction it deviates from the 2272.88-2707.12 section. Therefore, you should think about trading within the box section and create a response plan. Then, when it deviates from the box section, you should switch to a trading strategy to eat the trend. - Have a good time. Thank you. --------------------------------------------------
OANDA:SPX500USD
by readCrypto
Prescription for Gains!Recursion Pharmaceuticals is building strong bullish momentum, with a gap forming around the $6.00 level. A breakout above the $8.16 resistance would confirm further upside, targeting the $9.99 weekly resistance. This setup provides an attractive risk-to-reward ratio, with downside managed through a stop-loss at $5.49. In the longer term, RXRX could extend its bullish run to $15.72, supported by the company’s innovative approach to drug discovery using AI and machine learning. As Recursion leverages technology to streamline the development of new therapies, it has positioned itself as a leader in biotech innovation. The increased adoption of AI in healthcare and RXRX’s strategic partnerships further support its potential for strong revenue growth and long-term value. With both technical momentum and a compelling growth narrative in biotech, RXRX is well-positioned to reach $9.99 in the near term, with an eye on $15.72 as a longer-term target. NASDAQ:RXRX
NASDAQ:RXRXLong
by The_Trading_Mechanic
1
Check support near 68393.48 Hello, traders. If you "Follow", you can always get new information quickly. Please click "Boost" as well. Have a nice day today. ------------------------------------- (BTCUSDT 1D chart) The key is whether it can quickly rise to the 68393.48 area. The next important support and resistance point is the 65920.71 point. Therefore, if it continues to fall, we need to check support near 65920.71. This volatility period is until November 5th, and the next volatility period is around November 10th (November 9th-11th). - BW indicator is an indicator that comprehensively evaluates MACD, StochRSI, OBV, and ATR indicators. Currently, the BW indicator has touched the 50 point. Therefore, when the BW(50) point is created, you can conduct an aggressive transaction depending on whether there is support near it. - StochRSI indicator has completely entered the oversold zone. In addition, StochRSI EMA appears to have fallen below the 50 point zone. Accordingly, you need to check where the StochRSI indicator is located when it rises in the oversold zone and maintains the state of StochRSI > StochRSI EMA. - In order to complete the pull back pattern, the uptrend must be maintained. Therefore, the uptrend of the linear regression channel must be maintained. To do so, you can see that the price must be maintained around 65920.71 or higher. - To summarize the above, in order to maintain and continue the uptrend, the price must be maintained above 68393.48. - Have a good time. Thank you. -------------------------------------------------- - ​​Big picture The real uptrend is expected to start after rising above 29K. The expected range to touch in the next bull market is 81K-95K. #BTCUSD 12M 1st: 44234.54 2nd: 61383.23 3rd: 89126.41 101875.70-106275.10 (overshooting) 4th: 134018.28 151166.97-157451.83 (overshooting) 5th: 178910.15 These are points where resistance is likely to occur in the future. We need to check if these points can be broken upward. We need to check the movement when this section is touched because I think a new trend can be created in the overshooting section. #BTCUSD 1M If the major uptrend continues until 2025, it is expected to start forming a pull back pattern after rising to around 57014.33. 1st: 43833.05 2nd: 32992.55 -----------------
by readCrypto
AUD/USD quick strat 11/4/2024Analysis: Trend Analysis: - decline trend weak and more overturned by jumping inclined volatility - MACD decline trend weak and untrying - historical data shows high inclined volatilty Structure: -weak trend bulls overpowering bears significantly -historical data in momentum favors bulls stability VS bears instability Risk Management: - can be tightened up due to statistical forecast and news & events regular risk management for this period 40% turned to 20% max, 15% least News & Events: - poll burnings - hurricanes - Elections - economic data imbalance looks as if they will lower rates to make currency look attractive Objective & Targets: expect jumping volatility to lead to significant inclines/higher price swings buy signifacnt low @ 0.65803 expect price to incline significantly to 0.66442 are. 0.90% incline from entry leaving 1.3% more to go for actual tp1 target
Long
by Sylynt056
1
Soybean Oil’s Red Pill Moment: The Short Signal Just Hit"You’ve been waiting, watching, wondering when the veil would lift. Today is that day." Soybean oil just crossed a threshold, one that turns theory into action. This isn't just a hint anymore; it’s a red pill moment. Today, we got the confirmation we needed: a Daily bearish momentum divergence trigger has sealed the deal. If you've been waiting for a sign, here it is—the entry point is here. Decoding the Signs from the Commitment of Traders (COT) "What if I told you that the market leaves clues? And only the most discerning see them." Our strategy isn’t based on surface-level movements but on patterns and signals that tell the deeper story. Soybean oil is primed for a down move. Let’s break down the intel: Commercials’ Short Stance Relative to their positioning over the last 26 weeks, commercials have positioned themselves heavily short. Last time they were this committed was December 2023, a setup that spelled trouble for the long side. Overvaluation Across Key Metrics Against gold and treasuries, soybean oil is flashing overvalued based on our WillVal indicator. This isn’t random; the market is overextended and vulnerable to the downside. Bearish “Pinch” Confirmation Two weeks ago, a Bearish Pinch formed on ADX/Stochastic—one of the most reliable indicators of an impending pullback. Today’s momentum divergence confirms it. The alignment is uncanny, if you’re paying attention. Seasonal Trends: Down to December True Seasonal points down, favoring the bears. It’s as if time itself is backing this move. Supplementary Indicators Are Aligned Insider Acc/Dis, %R, and Stochastic are all signaling in unison: the tide is turning. Each of these alone is meaningful, but together, they mark a rare convergence that few recognize. "The trigger is pulled, and now we walk the path." This isn’t a drill. Today’s bearish momentum divergence confirmation is the daily trend trigger we needed, a line in the sand between potential and execution. For those who see beyond the surface, this is your sign to take action. To uncover more of these market signals and gain the insights no one else is sharing, follow @Tradius_Trades. Because once you’re in on the code, everything changes.
CBOT:ZLZ2024Short
by Tradius_Trades
Adobe - Triangle Textbook Long Setup!Adobe ( NASDAQ:ADBE ) is breaking out soon: Click chart above to see the detailed analysis👆🏻 After creating a rally of +2.000% over the past decade, Adobe created its all time high back in the end of 2021. The consolidation ever since has been quite expected, especially looking at market structure. But if Adobe breaks out of the current triangle, we will see new all time highs. Levels to watch: $440, $560 Keep your long term vision, Philip (BasicTrading)
NASDAQ:ADBELong
by basictradingtv
6
$RBLX The Epic Failed Hindenburg ShortFor some time now Hindenburg has published reports about NYSE:RBLX poor financials and very suspect safety concerns regarding NYSE:RBLX and their users. Time and time again Hindenburg has misled and proved incorrect on these allegations. One of the article's they published as a safety concern for users of NYSE:RBLX was completely inaccurate with links that went to locked locations. Here is the Link: x.com As you can see, no one can enter the links provided. Hindenburg is manipulating the flow of information to profit. But we know better.. NYSE:RBLX is in the midst of an Epic Short Squeeze and Hindenburg will pay the price. You thought NYSE:GME was something? Just wait.. Buy now and buy often. Load up on long call options with as much time as you can get. When NYSE:RBLX hits our projected target, you will be glad you did. Hindenburg will not.
NYSE:RBLXLong
by Midgar-
The Loss Effect: Why Traders Hold On To Losing Positions📍 In the realm of trading, the psychological weight of losses often outweighs the thrill of gains. This phenomenon, known as loss aversion , refers to the innate human tendency to prefer avoiding losses over acquiring equivalent gains. Within the context of financial markets, this bias can lead traders to stubbornly cling to losing positions, driven by the hope that market conditions will eventually shift in their favor. Consequently, their focus often shifts away from the potential for profit to a preoccupation with preserving their existing capital. 📍 Reasons Traders Avoid Closing Losing Trades Several psychological factors contribute to traders’ decisions to retain losing trades: 1. Emotional Attachment Traders are not immune to the emotions that accompany financial decisions. When individuals invest in an asset, they often form an emotional bond with that investment. Experiencing a loss can feel like a personal defeat, stirring feelings of shame, frustration , and anger. This emotional attachment can cloud judgment and impede rational decision-making. Rather than assessing the asset’s current market value objectively, traders may cling to the hope that conditions will improve, in an effort to circumvent the distress associated with acknowledging a loss. 2. Fear of Realizing a Loss The psychology of loss is complex, with many traders perceiving the act of realizing a loss as more painful than the prospect of missing out on potential gains. This fear can compel traders to hold on to losing positions, hoping that the market will rebound to their initial entry points. By postponing the realization of a loss, they believe they can mitigate its emotional impact. However, this paradoxical reasoning often leads to extended periods in losing positions, even as downward trends become increasingly pronounced. 3. Lack of Confidence in Their Strategy Traders often rely on specific strategies or analyses when making investment decisions. When the market begins to turn against them, a sense of doubt regarding the validity of their strategy can emerge. This internal conflict can make it challenging for a trader to acknowledge a mistake. Instead of reevaluating their positions and accepting the reality of a loss, they may irrationally hold onto failing trades, hoping for an unexpected turnaround—an approach that typically exacerbates their situation. 4. Challenges with Objective Analysis Emotional responses can significantly hinder traders’ ability to conduct objective analyses of their positions. Important data and market signals indicating a need to exit a position may be ignored, leading to cognitive dissonance. This disconnect between emotion and analysis often causes traders to remain in unprofitable trades far longer than warranted, despite clear evidence suggesting the necessity of a change in strategy. 5. Cognitive Distortions Traders are susceptible to a variety of cognitive distortions that can cloud their judgment: ⚫️ Selective Attention: Many traders may emphasize their winning trades while minimizing the importance of their losses. This selective focus can result in a failure to adequately analyze losing positions, leading to the selection bias known as " cherry-picking ." ⚫️ Confirmation Bias: This cognitive bias leads traders to seek out and prioritize information that reaffirms their initial decisions, while disregarding contradictory evidence. As a result, they may grow increasingly reluctant to close losing positions, insisting on data that supports their original decision to invest. 📍 Conclusion: To Hold or Not to Hold Losing Positions? Deciding whether to maintain or close a losing position ultimately hinges on one's tolerance for losses. If a stock continues to decline in value without signs of recovery, persisting in holding it may be misguided; in such cases, it may be more prudent to exit and then consider purchasing at a more favorable price. However, it is equally ill-advised to close positions at the slightest market correction. The crux of the matter lies in understanding the underlying reasons for the loss. If no fundamental issues exist and the downturn appears temporary—especially when the loss aligns with typical statistical drawdowns—there may be no need to exit the position prematurely. Ultimately, a balanced approach involving emotional detachment and a keen awareness of market dynamics can aid traders in making more informed and strategically sound decisions regarding their positions. Traders, If you liked this educational post🎓, give it a boost 🚀 and drop a comment 📣
Education
by Lingrid
5
BTC : Riding Asia Open Volume to the Golden Zone TargetOn the 8-hour chart, I’m targeting an entry to capture potential volume influx as the Asian markets open. I plan to take partial profits along the way, with a target to reach the $71,000 zone, which aligns with the golden Fibonacci retracement level. Fundamental Context: This setup is influenced by the buzz around the upcoming U.S. Presidential Election and speculation around Donald Trump’s potential reentry, possibly fueling a “buy the rumor, sell the news” effect. Given the high-impact events surrounding this period, I’m managing risk closely, aiming for strategic exits to maximize profitability within this volatile environment. Note: Please remember to adjust this trade idea according to your individual trading conditions, including position size, broker-specific price variations, and any relevant external factors. Every trader’s situation is unique, so it’s crucial to tailor your approach to your own risk tolerance and market environment.
Long
by AR33_
2
Tesla's Next Big Moves: Buckle Up! Alright, here’s the lowdown: Tesla’s sitting right at $241 support, gearing up for a possible push up. If we hold this level, we’re eyeing $266 as the next stop. But here’s the kicker—if we fall below $241, that support could flip, and Tesla might tumble hard, possibly all the way to $157. Let’s keep it simple and watch the levels!" Easy Breakdown for the Ride: Where We’re at Now: $241 Support Right now, Tesla’s hanging at the $241 mark, and this level is holding it steady. Think of it as the safety net. If we keep pushing up from here, we’ve got some exciting targets on the way. Targets if We Move Up First Target: $266 If we get some upward momentum and hold above $241, $266 is our next pitstop. This could be a nice level to watch for some gains. Second Target: $279 Breaking $266 with strength? Then we’re looking at $279 as the next destination. Big Target: $298 If the trend stays strong, $298 is the big target. But let’s keep it easy and focus on one level at a time! The Drop Zone: Below $241 Here’s the flip side. If Tesla loses $241 support, this level could actually help the price go lower instead of higher. That could mean a big drop, and the next stop down could be as low as $157. So, eyes on this level—$241 is the line between bulls and bears right now! Trading Tip This setup is all about those key levels. If we stay above $241, we’re in the clear for now. But if $241 breaks, be prepared for a potentially deep drop. Keep your levels marked, stay flexible, and enjoy the ride! Mindbloome Trading / Kris
NASDAQ:TSLA
by Mindbloome-Trading
6
Market News Report - 03 November 2024While it was a mild past week, the USD was pretty strong again. Other bullish currencies include the euro and the British pound. Speaking of the latter, the Bank of England will announce its interest rate soon. Then, we had the most anticipated new Federal Funds on Thursday and the US elections. All of this and more will be covered in our market report of the major forex pairs. Market Overview Below is a brief technical and fundamental analysis breakdown for all major currencies. US dollar (USD) Short-term outlook: weak bearish. Despite a recent 50 basis points (bps) rate cut, the Fed may not need to cut rates as aggressively going forward. This is partly due to recent positive job numbers and earnings data that exceeded expectations. While the NFP data last Friday was negative, the drop was due to the impact of US hurricanes and labour disputes with Boeing. The US elections on Tuesday may provide a notable boost for USD if Trump wins. However, we also have the new Fed interest rate two days later, where a cut is anticipated. So, the bias remains weak bearish in the near term. The Dixie continues to head north after weeks of ranging around the key support area at 100.157. We have spoken several times about a potential technically-driven retracement (despite the bearish fundamentals). Meanwhile, the key resistance is far away at 107.348, which will remain untouched for some time. Long-term outlook: weak bearish. While there is no extreme dovish pricing anymore (thanks to some economic improvements), the Fed is still expected to cut the interest. Labour data will be another key driver in the long term for USD. However, the upcoming US elections could be a huge redeeming factor for the greenback if Trump wins (who is highly favoured against Harris). Euro (EUR) Short-term outlook: bearish. The short-term interest rate (STIR) markets were predictably accurate as the European Central Bank (ECB) cut the interest rate last month. However, they remain data-dependent on what to do in the future (although they are quite concerned about slow growth). Short-term interest rate markets have indicated an 84% chance of a rate cut in December. Also, we have seen weaker economic data across various European nations (although the Eurozone Gross Domestic/GDP growth was above expectations). The euro has finally made its bearish intention known on the charts, breaking the key support at 1.07774 (but only just). We need to see how this level reacts over the coming weeks- so it's not out of the question. Meanwhile, the key resistance remains far higher at 1.12757. Long-term outlook: bearish. The latest rate cut and the avoidance of indicating a clear future move for the December meeting are among the key down-trending factors. However, any improvements in economic data (according to the ECB) would be a turnaround. Higher German inflation and stronger European growth in Q3 have saved the euro from a downward spiral. British pound (GBP) Short-term outlook: bearish. The Bank of England (BoE) kept the interest rate steady in its recent meeting. Still, the language indicates they need to be “restrictive for sufficiently long” and the "gradual need" for decreasing the rate. STIR pricing indicates an 86% chance of a cut on Thursday As with the ECB, the central bank's current key theme is fighting persistent inflation in the United Kingdom. So, it makes more sense to be dovish than hawkish. Not long ago, Governor Bailey hinted that "aggressive rate cuts" were possible if inflation went lower. We mentioned that the current retracement may be the start of a more serious bear move. So far, that's what the pound is experiencing. The nearest key support is at 1.26156, while the resistance target is 1.34343. Long-term outlook: weak bearish. Sequential rate cuts by the BoE may soon be a reality due to the points discussed earlier. However, a new development is the UK budget, which has been seen as a reason for the central to proceed slowly in this regard. As usual, data remains essential going forward with GBP. Japanese yen (JPY) Short-term outlook: bullish. Unlike in July this year, the Bank of Japan (BoJ) kept the interest rate the same last week. So, our outlook remains largely unchanged. However, a rise in USD/JPY could raise the possibility of the BoJ's intervention. ​​Governor Ueda of the BoJ noted not long ago that despite domestic economic recovery, recent exchange rate movements have reduced the upside risk of inflation (which has been on an upward trajectory). As recently as 31 October 2024, Ueda also stated that hikes would continue if the central bank's projections were realised. The 139.579 support area is proving quite strong, boosting the yen since mid-September. Still, the major resistance (at 161.950) is too far for traders to worry about. Long-term outlook: weak bullish. Lower US Treasury yields are one potential bullish catalyst for the yen (the opposite is true). Inflation pressures and wage growth would also provide upward momentum. We should also consider that the dovish tendencies of other major central banks and worsening US macro conditions are JPY-positive Still, as a slight downer, near-term inflation risks subsiding (according to the BoJ) reduce the urgency for a rate hiking cycle. Australian dollar (AUD) Short-term outlook: weak bullish. The Reserve Bank of Australia (RBA) kept the interest rate unchanged during the Sept. 25 meeting. They further stated that they "did not explicitly consider rate hikes" for the future, which is a marginally dovish statement. The Aussie remains sensitive to China’s recent economic woes, with some promising developments at times. Finally, recent positive unemployment and labour data gives a base case for a hold in the RBA interest rate on Monday this week (priced at 97% probability according to STIR markets). After failing to break the 0.69426 resistance level several times, the Aussie has retraced noticeably from this area. While this market looked bullish, this pullback does surprisingly indicate otherwise. Still, we are quite far from the major support level at 0.63484, but consider the interesting dynamic with the opposite fundamentals of AUD and USD. Long-term outlook: weak bullish. While the RBA hasn’t ruled anything out, the central bank isn’t explicitly suggesting rate hikes in the future. It’s crucial to be data-dependent with the Aussie, especially with core inflation as the RBA's key focus area. However, the Australian dollar is pro-cyclical, meaning it is exposed to the economies and geopolitics of other countries, especially China. New Zealand dollar (NZD) Short-term outlook: bearish. Unsurprisingly, the Reserve Bank of New Zealand (RBNZD) cut its interest rate by 50 bps recently and sees further easing ahead. This affirms another cut next month of potentially the same magnitude. Furthermore, the central bank is confident that inflation will remain in the target zone, adding more impetus to the bearish bias. Due to the rate cut, the Kiwi has been on a downward spiral, proving the strength of the major resistance level at 0.63790. Conversely, the major support is at 0.58498. Long-term outlook: bearish. The central bank's latest dovish stance (where it cut the interest rate) firmly puts the Kiwi in a 'bearish bracket.' They also revised the OCR rates lower and signalled steady winnings in the inflation battle. Canadian dollar (CAD) Short-term outlook: bearish. The Bank of Canada (BoC) unsurprisingly delivered a 50 bps cut on Wednesday. Further cuts remain on the cards, with the long-term target being 3%. The BoC is signalling victory over inflation due to the cuts, with Governor Macklem suggesting that they would probably cut further until they achieve the optimal low inflation. In their words, 'stick the landing.' Overall, the bias remains bearish - expect strong rallies in CAD to find sellers. While the short-term fundamental biases of USD and CAD are bearish, CAD is the weakest on the charts. USD/CAD has finally touched the key resistance at 1.39468. This week will determine whether this area will be breached or not. Meanwhile, the key support lies far down at 1.33586. Long-term outlook: weak bearish. Expectations of a rate cut remain the focal point. The Bank of Canada has recognised the lower economic growth, and Macklem wishes to see this increase. Furthermore, any big misses in upcoming GBP, inflation, and labour data would send CAD lower. Still, encouraging oil prices and general economic data improvement would save the Canadian dollar's blushes. Swiss franc (CHF) Short-term outlook: bearish. STIR markets were, as usual, correct in their 43% chance of a 25 bps rate cut (from 1.25% to 1%) recently. In the Sept. 26 meeting, the Swiss National (SNB) indicated its preparedness to intervene in the FX market and further rate cuts in the coming quarters. The central bank's new Chair (Schlegel) said they "cannot rule out negative rates." Finally, the September CPI came in weak at 0.8%, against the expected year-on-year 1.1%. Still, the Swiss franc can strengthen during geopolitical tensions like a worsening Middle East crisis. USD/CHF has just broken out of the range (but only just) discussed in our last few reports. While remaining largely bearish, this market could return closer to the major support level at 0.83326 or climb its way to the higher major resistance level at 0.92244. Long-term outlook: weak bearish. The bearish sentiment remains after the last SNB meeting, while inflation is being tamed with lower revisions. We should also remember that the SNB's intervention prevents the appreciation of the Swiss franc. The new chairman is more keen to cut rates than his predecessor, Jordan. The SNB aims for neutral rates between 0 and 0.50% (currently at 1%). However, STIR markets only see a 20% chance of a 50 bps cut next month. Conclusion In summary: The USD will certainly be the talk of the town this week due to the upcoming elections and Fed rates. Other noteworthy economic releases include the new interest rates for the British pound and the Australian dollar. Our short and long-term fundamental outlooks remain unchanged from the last few weeks. As always, hope for the best and prepare for the worst. This report should help you determine your bias toward each currency in the short and long term.
TVC:DXY
by CityTradersImperium_CTI
BTC Mind Opening Questions, Soul Search, Before 2025 Bull-MarketBitcoin is setting itself up for something incredible... Let's analyze the two weeks with the highest volatility in 2024. ➖ In 29-July week, Bitcoin reached at a peak of 69,985 and a low of 57,176. That's a swing of more than 12,000$ in a single week. ➖ In 5-Aug. week, Bitcoin peaked at 62,700 and bottomed at 49,111. That's a huge 13,589$ swing in a single week. How would similar action look like today? What if Bitcoin has two more weeks of bearish action before going green? What if Bitcoin has four (4) more weeks of bearish action before the correction is done? How wild can the price swings become? What was your mental state and your market bias during the early August crash? Where you prepared for this event? Looking back, would you have done anything differently if you knew before-hand that prices were moving lower? If you knew before-hand that Bitcoin was moving below 50K, when it was trading at say, 70K, would you act or react differently to how you acted or reacted in the past? How would you act now if you knew that Bitcoin was set to drop by 10,000 or 15,000 in a matter or days? And this just to continue lower. Would you be ready to buy at support? Would you be ready to sell now? Would you panic sell at the low based on the market impulse? What's your main strategy? Why did you join this market? What was your mindset when you bought Bitcoin? How long are you ready to wait? Are you ready to hold through a panic? If you don't sell now, you cannot sell when prices are low. Sell high and buy low. We sell at resistance and buy at support. We sell green and buy when the market is red. Are you ready to go against the market, the mass, the herd? Are you aware that it doesn't matter what happens Bitcoin will recover and grow? Any and all corrections are only part of a short-term development, long-term we will experience continued growth. Crypto (Bitcoin) is a new, young and evolving market, this is only the beginning... What was it like 10 years ago? How do you see yourself 10 years into the future? How do you see yourself in 2034? For example. At what price will Bitcoin trade in 2034 and how will the world look like? How were you doing financially back in 2014 and how are you doing today? If you knew back then what you know now, what would you have done differently? Bitcoin is going up long-term. Bitcoins is going to crash short-term. What are you going to do about it? Thank you for reading. Namaste.
KRAKEN:BTCUSDLong
by AlanSantana
21
Jupiter Wagons Ltd (1D) – Descending Channel Analysis and Key TrThe daily chart for Jupiter Wagons Ltd reveals a prominent descending channel pattern that has been in place since the peak earlier in 2024. Currently priced at 500.85 and down by 4.17%, the stock is testing critical levels within this channel. Here’s an in-depth technical breakdown and potential trading setups for traders. Key Technical Insights: 1. Descending Channel Pattern: The stock is moving within a clearly defined descending channel, with the upper and lower boundaries serving as resistance and support respectively. This pattern suggests a controlled downtrend, with possible opportunities to trade within the channel. 2. Support and Resistance Levels: Immediate support is located around 410-420. This level has shown previous buying interest and coincides with the lower boundary of the channel. Resistance levels are identified at the channel’s upper boundary near 550 and potentially 650 on a breakout. 3. Trend Analysis: The descending channel indicates a steady downtrend, but bounces within the channel could provide short-term trading opportunities. A breakout above the channel could indicate a reversal and a potential start of a new bullish phase. Trade Setup and Scenarios: 1. Bullish Scenario (Rebound within Channel): Entry: If the stock bounces off the support zone near 410-420, consider entering a long position within the channel. Take-profit levels: First target around the midline of the channel at 480-500. Second target at the upper boundary around 550. Stop-loss: Set a stop-loss below 400 to minimize downside risk in case of a breakdown. 2. Bearish Scenario (Channel Continuation): Entry: If the stock approaches the upper boundary near 550 and shows signs of rejection, consider a short position. Downside targets: First target at the midline near 500. Second target back at the lower boundary around 420. Stop-loss: Place a stop-loss above 570 to avoid losses if a breakout occurs. 3. Breakout Scenario (Trend Reversal): A breakout above the channel’s upper boundary (above 550) with strong volume could signal the end of the downtrend. For a breakout trade, enter above 560 with targets at 650 and potentially higher levels. Stop-loss: Set below 540 in case of a false breakout. Trading Strategy: For Long Positions: Look for support at the lower boundary or a breakout above the channel. Place stops near recent lows. For Short Positions: Monitor for rejection at the upper boundary of the channel and place stops above to mitigate risks. Volume Analysis: A notable increase in volume around support levels could signal accumulation, making it essential to watch for volume spikes to confirm potential trend reversals. --- Summary: Jupiter Wagons Ltd is trading within a descending channel, providing both bullish and bearish trading opportunities based on the support and resistance boundaries. Traders should monitor price action and volume closely near the channel limits for optimal entries. --- Tags: #JupiterWagons #TechnicalAnalysis #PriceChannel #SupportAndResistance #DescendingChannel #StockMarket #TradingSetup #TradingStrategy #NSE #StockTrading #IndianMarket #PriceAction
NSE:JWL
by TradeAXN
XAU / USD ! 11/4! Downtrend - correction continuesXAU / USD trend forecast November 4, 2024 Gold price (XAU/USD) sees modest gains around $2,740 during early Asian trading on Monday, breaking a two-day losing streak. Safe-haven demand for gold may rise due to uncertainties surrounding the US presidential election and Middle East tensions. The upcoming US presidential election on Tuesday is a key focus this week. Analysts at JPMorgan suggest that any decline in gold prices, regardless of the election results, could be a buying opportunity. Gold price continues downtrend H1 - waiting for the US presidential election move and the decision to lower interest rates or not in November 2024 /// SELL XAU : zone 2747-2750 SL: 2755 TP: 50 - 120 - 200 pips (2730) /// BUY XAU : zone 2717-2714 SL: 2709 TP: 50 - 120 - 200 pips (2734) Safe and profitable trading
OANDA:XAUUSDShort
by Moon-ForexAcademy
3
Alibaba seems to be mimicking itself in the runup to Trump 2016This is just something I noticed the other day when NYSE:BABA took off ... how crisply its price action has lined up with the last election, and how the uptrend seemed to start just a tad early, almost like the market knew in advance Trump would win that election. This time, we've similarly put in a longer base, with a higher low, and also broken above 2 visible pivot highs once again. Why would this be a thing? IDK. And maybe it's not. It could lead to a head fake or something. I don't have a position on it yet, but I will be watching this retrace and looking for an entry I recognize, and meanwhile I thought it was interesting enough to share. -Josiah Easycators.com/RelVol X thread on NYSE:BABA analog: x.com
NYSE:BABALong
by easycators
Kiwi Updatethe 50-day EMA is rolling over and preparing to break below the 200-day EMA, forming the so-called death cross. Whether or not this will have a significant impact remains to be seen. It's important to note that the New Zealand dollar is highly sensitive to commodity markets, particularly soft commodities like food. If we break below the 0.5950 level, it's likely we could head down to the 0.5850 level, where a massive double bottom has formed. With rising interest rates in the United States over the long term, it makes sense that the US dollar may continue to strengthen.
Short
by mohammadhassanli
Sliced KiwiThe New Zealand dollar continues to decline, solidifying its position as the second-worst-performing major currency this year . It was trading at 0.5916 USD late Thursday in Wellington and has shed nearly 6.5% against the US dollar since the beginning of the year. By early Friday it had dipped below 0.5900 and was trading at 0.5893. It is falling thanks to the “unceasing advance of the bears”, according to Brett Ottawa at OFX. The KIWI is under noticeable pressure.
Short
by mohammadhassanli
3
EURUSD: Potential USD Strength On Trump Election MomentumHey Traders, in today's trading session we are monitoring EURUSD for a selling opportunity around 1.09000 zone, EURUSD is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 1.09000 support and resistance area. I would also consider the ongoing Elections in the US, if Trump wins as he is bullish the Dollar we should see a significant downsides in the Dollar. Trade safe, Joe.
Short
by JoeChampion
5