USOIL otw 2746m15 pinbar was unable to penetrate the mid-bollingerbands area, the trend continues until the nearest pullback area.
Bollingerbandstrategy
Understanding the Renko Bricks (Educational Article)Today we are going to study a chart which is called a Renko chart. Renko chart is a chart which is typically used to study price movement. I use Renko chart many times to determine supports and resistnace. I find it easy and accurate way of determining supports and resistances. The word Renko is derived from Japanese word renga.
Renga means brick. As you can see in the chart below it shows a kind of Brick formation. The brick size is determined wither by the user and mostly it depends of typical average movement on the stock historically.
A new brick is formed once the price moves upwards on downwards in the same proportion or ratio of the typical brick. New brick is only added post the price moves in that particular proportion. A new brick might not be added in months if the price movement is not as per the ratio. At the same time a new brick might be added in a day or few bricks in a week is price moves accordingly.
We will try to understand this concept further by looking at the chart in the post. We have used the chart of Reliance industries to understand this concept and concept only. Please do not consider this buy or sell call for the stock. As you can see in the above chart I have used a combination of RSI, EMA (50 and 200 days) and Bollinger band strategy. RSI support for Reliance is at 35.89 with current RSI at 40.13. Bollinger band suggests that support might be round the corner for the stock. The peaks from previous tops are used to find out further supports and resistances. Mid Bollinger band level and Bollinger band top level coincide with other pervious tops making them tough resistance when the price moves upwards. Mother line EMA is a resistance now and Father line EMA support is far away. All these factors indicate the support zones for the stock to be around 2736, 2657, 2601 and 2561 in the near term. Resistance for Reliance seem to be at 2814, 2972, 3006, 3048 and 3202 levels. Let me give a disclaimer again. The above data is for analysis purpose and to understand Bollinger band, RSI, effect of EMA and Renko Bricks only. Please do not trade based on the information provided here as it is just for understanding Renko charts.
Disclaimer: There is a chance of biases including confirmation bias, information bias, halo effect and anchoring bias in this write-up. Investment in stocks, derivatives and mutual funds is subject to market risk please consult your investment advisor before taking financial decisions. The data, chart or any other information provided above is for the purpose of analysis and is purely educational in nature. They are not recommendations of any kind. We will not be responsible for Profit or loss due to descision taken based on this article. The names of the stocks or index levels mentioned if any in the article are for the purpose of education and analysis only. Purpose of this article is educational. Please do not consider this as a recommendation of any sorts.
Bitcoin (BTC): Will Crash Soon!The new week is here and bitcoin has successfully re-tested the 100EMA line, which was broken on June 23rd.
As we see a new daily candle (which is also an opening day for the week + month), we are seeing a nice rejection from 100EMA so far, which is working rather well.
We are waiting to see a re-test of local lows at the $60K zone and a movement to lower zones touching that 200EMA and breaking it as well!
Swallow Team
WATCH OUT: Ship SINKS for KUJI (-80%)KUJIUSDT has lost 80% in two weeks, losing exponentially more than the rest of the altcoin market. It continues to make lower lows and the price is now in price-discovery mode... but to the low side.
However, if you are interested in buying KUJI (for your own personal reasons) at this low price- I'm going to show you a strategy on how to find price levels to set your buying orders on.
If you're getting negative values on your Bbands, try switching up the timeframe. It is NOT because the Bollinger bands are broken, but because the price is trading lower than it's opening price and is already in the decimals. Strong selling volume will push the Bbands to expand wide. This indicated the price will likely fall even lower.
Take extreme caution!
___________________________
MEXC:KUJIUSDT
Bitcoin (BTC): Fist Target Reached - Waiting For 200EMA to BreakNow that our first target has been achieved nicely, we are looking for another movement here, which is a test to 200 EMA (potentially breaking it and moving to $50K zones).
First, what we are looking for is the re-test of the broken 100EMA, which should happen this week. After most indicators stabilize (RSI + Bollinger Bands), we can start the test of the 200EMA, which is the next big zone that needs to be broken!
Swallow Team
Trade the TREND with 4 Trend Indicators4 Trend Indicators you can use to identify the current MACRO Trend.
It's always important to know where your market is currently trading. Is it bullish, bearish, or range trading? If you have established the trend, you can trade with the trend instead of against it. Trading against the trend ( for example shorting during a bullish cycle ) adds unnecessary risk to an already risky trade (leverage).
1) Bollinger Bands
2) Logarithmic View
3) Super Trend
4) Moving Averages + RSI
Let me know how YOU determine the macro trend!
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BINANCE:DOGEUSDT MEXC:ETHUSDT KRAKEN:BTCUSD COINBASE:SOLUSD
EOS (EOS): Looking For Rejection And Movement To Lower ZonesEOS is looking sweet after forming 2 double bottom zones and getting rejected by that neckline/resistance zone, which now has pushed the price back to lower zones.
We are looking for steady and steep pressure from sellers from now on, which would result in a movement to the zone of liquidity and a break of that zone there as well!
Swallow Team
TECH MAHINDRA LONG TRADE IDEAThis is not just an idea for me as I have entered the setup.
All things mentioned in chart.
This is like a personal journal for me. I do not provide tips and strictly advise you not to copy my trades.
Ready for Takeoff?
NYSE:BA Boeing Shares had a volatile performance this week, with a decent uptrend rally on Thursday and Friday .
This is my strategy:
Using Bollinger Bands and Fibonacci Retracement, we see a slight trade volume and volatility increase as the price surpasses the SMA and nears the upper band. The price is at $179.79. We can expect it to reach a price target of $184.15 (test strategy here) before retracement or reversal as the shares will near overbought status.
Enter at price targets: $175.15 and $164.21
Hold for the price to cross $196.27 for uptrend confirmation.
IMPP- a volatile penny energy stock LONGIMPP stands to gain market cap if the barrel price of oil moves on the global markets under
the pressure of geopolitics in the Middle East. While it is a domestic producer and not involved
in transoceanic oil tanker transport, the price of oil is a global dynamic in real time. As a small
cap, when the oil price moves and IMPP's fixed expenses remain static, margins can increase
in a curvilinear fashion. IMPP once traded in the 40 share price range. I believe it is well
situated to jump if oil prices escalate in the near term. For another similar penny energy stock
albeit not domestic take a look at INDO. Targets are on the chart 15%, 30%, 30%, 25% partial
closures at each averaging 10-15% overall
PG slow and steady long term winner with earnings coming LONGPG on the weekly chart gained 15% in a year and had a dip in the past two weeks with earnings
at the end of this week. PG persistently and consistently beats earnings estimates and pays a
dividend. Moreover, it consistently has a bit of a surge after earnings. I see this as an
opportunity to get a good stock on a 4% dip of a discount and hold it through earnings for
perhaps a 10% profit in two weeks while also picking up the quarterly dividend. Some traders
including those institutionally based believe that buying near to the middle line of the Bollinger
Bands is a good entry for getting fair value. I am one of them.
Crossover Trade - NMDC📊 Script: NMDC
📊 Sector: Mining & Mineral products
📊 Industry: Mining / Minerals / Metals
Key highlights: 💡⚡
📈 Script is trading near middle band of BB.
📈 Already Crossover in MACD.
📈 Double Moving Averages are giving crossover.
📈 Right now RSI is around 57.
📈 One can go for Swing Trade.
⏱️ C.M.P 📑💰- 224
🟢 Target 🎯🏆 - 243
⚠️ Stoploss ☠️🚫 - 217
⚠️ Important: Always maintain your Risk & Reward Ratio.
✅Like and follow to never miss a new idea!✅
Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes.
Eat🍜 Sleep😴 TradingView📈 Repeat 🔁
Happy learning with trading. Cheers!🥂
Descending Triangle Breakout - MAHLOG📊 Script: MAHLOG
📊 Sector: Logistics
📊 Industry: Miscellaneous
Key highlights: 💡⚡
📈 Script is giving breakout of Descending Triangle in Daily and Weekly Chart.
📈 It is trading at upper band of BB and giving breakout of it.
📈 Already Crossover into MACD.
📈 Double Moving Averages giving Crossover.
📈 Right now RSI is around 66.
📈 One can go for Swing Trade.
Weekly Chart
⏱️ C.M.P 📑💰- 444
🟢 Target 🎯🏆 - 485
⚠️ Stoploss ☠️🚫 - 428
⚠️ Important: Always maintain your Risk & Reward Ratio.
✅Like and follow to never miss a new idea!✅
Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes.
Eat🍜 Sleep😴 TradingView📈 Repeat 🔁
Happy learning with trading. Cheers!🥂
Bearish Divergence on the CADCHF 4h ChartBearish Divergence with CCI (Commodity Channel Index)
A bearish divergence occurs when the price is making higher highs (indicating bullish sentiment), but the CCI, which measures the variation of a security's price from its statistical mean, is making lower highs. This discrepancy can signal weakening momentum in the upward price movement, suggesting a potential reversal or pullback.
In this case, this divergence on the 4h chart indicates that despite the price climbing, the momentum behind this rise is fading, hinting at a possible downturn.
MACD (Moving Average Convergence Divergence) Crossing Down
The MACD is a trend-following momentum indicator that shows the relationship between two moving averages of a security's price. A downward cross, where the MACD line crosses below the signal line, is a bearish signal. It suggests that the short-term momentum is slowing down compared to the long-term momentum, reinforcing the bearish sentiment indicated by the
bearish divergence in the CCI.
Price Touching the Upper Bollinger Band
This suggests the market might be in an overbought condition, especially in the context of the bearish divergence with the CCI and the MACD crossing down. When the price hits the upper band, it's common for traders to expect a retracement or reversal, as the market could be seen as stretched too far to the upside.
Price Ranging Above an Untouched Weekly Pivot Point
Pivot points are used to identify potential support and resistance levels. The fact that the price is ranging above the weekly pivot point and hasn't touched it yet indicates that this level could act as a target for the downward movement. Pivot points are often considered floors or ceilings in market price movements, with the price making significant moves upon reaching these points.
Potential Drop to the Weekly Pivot Point at 0.66417
Considering the bearish signals from both the CCI divergence and the MACD crossover, along with the price's current position above an untouched pivot point, the analysis suggests that there's potential for a downward move towards the weekly pivot point at 0.66417. This level could serve as a short-term objective for bears in the market or a reversal point for traders to watch closely.
Summary
This analysis points to a cautious stance for traders, with a bearish outlook in the short term based on the technical indicators that were highlighted. It would be wise to monitor these indicators closely, along with other market factors, to confirm any potential moves before making trading decisions.
Always remember, while technical analysis can provide insights into market movements, it's crucial to consider a wide range of factors, including market news and economic indicators, before trading.
USD/CAD 4H Chart Analysis: A Bullish Reversal on the HorizonThe USD/CAD pair on the 4-hour chart is showcasing several bullish signals that suggest a potential reversal to the upside is imminent. As traders, it's crucial to decode these signals to position ourselves for the upcoming movement. Here's a breakdown of the technical indicators currently in play:
Regular Bullish Divergence
The pair is exhibiting a classic bullish divergence, with the price marking lower lows while the Commodity Channel Index (CCI) is making higher lows. This divergence indicates weakening downward momentum and a possible reversal to the upside.
MACD and Signal Line Crossover
The Moving Average Convergence Divergence (MACD), specifically the Zero Lag MACD, is on the brink of crossing above its signal line. This potential crossover is a bullish signal, suggesting that upward momentum is gaining strength.
Bounce from Lower Bollinger Band
USD/CAD has recently bounced off the lower Bollinger Band, indicating that the price was oversold and is now rebounding. This bounce further supports the likelihood of an upward price movement.
Target - Monthly Pivot Point
Given these bullish indicators, the price is poised to rise towards the monthly pivot point at 1.35260. This level will serve as a significant resistance point, and a break above could confirm the bullish momentum.
A Note on Zero Lag MACD
The Zero Lag MACD is a modified version of the classic MACD indicator. It's designed to respond more quickly to price movements, reducing the lag that's typically associated with moving averages. By applying an exponential moving average (EMA) smoothing twice, it aims to eliminate lag, providing traders with faster signals. This makes the Zero Lag MACD particularly useful in volatile markets, where timing is critical.
In conclusion, the USD/CAD pair on the 4-hour chart is showing promising signs of a bullish reversal. Traders should closely monitor these technical indicators and consider positions that align with the anticipated upward movement towards the monthly pivot point.
📈Bitcoin is on a crossroads? / Trading setups (Updates soon)📉BINANCE:BTCUSDT
COINBASE:BTCUSD
Hello dear traders.
As long as Bitcoin is above Bollinger midline, it will continue its upward path until returning to $75K.
The bullish scenario will be canceled when Price returns below the Bollinger midline and stabilizes there.
MACD Crossover - HINDCOPPER📊 Script: HINDCOPPER
📊 Sector: Non Ferrous Metals
📊 Industry: Mining / Minerals / Metals
Key highlights: 💡⚡
📈 Script is trading near at middle band of BB.
📈 MACD is giving crossover .
📈 Double Moving Averages will give crossover.
📈 Right now RSI is around 59.
📈 One can go for Swing Trade.
⏱️ C.M.P 📑💰- 281
🟢 Target 🎯🏆 - 306
⚠️ Stoploss ☠️🚫 - 269
⚠️ Important: Always maintain your Risk & Reward Ratio.
✅Like and follow to never miss a new idea!✅
Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes.
Eat🍜 Sleep😴 TradingView📈 Repeat 🔁
Happy learning with trading. Cheers!🥂
ON Semiconductor lags its leading peer Engulfing Candle LONGON shown on a 30 minute chart- has fallen behind but is a top 50 seached on the the Zack
website. It recently trended down from a push to outside the Bollinger Bands showing extreme
buying volaility and price action than a big fade into selling volatility and a slight compression.
The TTM squeeze fired just as price fell outside the lower band. Price rose abruptly into and
over the trendline and then printed a so called" Big Ass Candle" engulfing about five
hours of price action. This is a strong buy. ON will work to catch up with MU NVDA and the
frontrunners. I will profit while it runs that race.
CRWD VWAP bounce earnings coming LONGCRWD reports on March 4th in the meanwhile in it is shown here on a 15 minute chart with
a Bollinger Band overlay. Price has trended from the upper bands down through the middle line
into the lower inner and outer bands where a reversal took place at the level of the mean
anchored VWAP band where the price fall was rejected with good support and wick touches
on the lower time frames. I see this as a set up for a new trend up in the run to earnings.
I will take a long trade of shares and call options. My easy target is the upper BB
bands but expect more than that in the upcoming week.
BOIL- Premarket Long Trade Scalp RecapsBOIL is here on the 15- minute chart with a set of Bollinger Bands, a Bollinger Band Oscillator by
LuxAlgo as well as a dual-time frame RSI indicator by Chris Moody. The settings for the Bollinger
Band set up are period 49 EMA 14 standard deviations 2 /2.618 ( These are multiples of 7 and
Fib #s for mathematical reasons.
Entries are signal is price crossing the base line of the Bollinger Bands ( the EMA 14) or else
the RSI lines crossing over the 50 level and green above red.
Exits are the price action going outside the outer upper BB band and then fading back inside
of both inner and outer bands or RSI green and red crossing such that green fades quicker than
red. Entries and exits are managed with alerts/notifications to minimize screen time.
The first trade began on 2/27 at 8:10 AM ended 2hours later. 50 shares taken gained $ 1.50 each
for a total of $75.00 realized profit in the long scalp. The second trade on 2/28 was
taken in the premarket at 6:45 AM EST with again 50 shares taken then closed at 9:15 AM
for a 150 minute trade. Realized profit was $1.20 per share and $60 overall.
Overall, there were 4.5 hours in the trades yielding $135.00 or $30 hr for the time in the trade.
Risk was minimal as trades were taken at the lows with a stop loss outside the BB and below
them. Time spent on the screen amounted to less than 30 minutes overall making the
realized profit excellent for the time and effort expended. This idea illustrates good use
of a Bollinger Band strategy coupled with alerts and notifications. Notably, I did not spend
any effor adjusting the stop losses during the trade as I am very confident of the setup and
the strategy. Today is another day for the same trade.
Long term indicator to identify Bubble territoryBollinger bands applied on the 1M Log chart create this fjord/valley forms that signal in advance that the peak is arriving and that we are in a big bubble territory.
This won't tell you the exact month when to sell, but it signals when we are entering the bubble territory, so you can know whether or not it's still safe to enter, and start selling going up hill.
Vertical lines are halving dates just for reference. The red circle is an approximate when the peak will probably take place.
Crossover - CENTURYTEX📊 Script: CENTURYTEX
📊 Sector: Paper
📊 Industry: Paper
Key highlights: 💡⚡
📈 Script is trading near at middle band of BB.
📈 MACD is giving crossover.
📈 Double Moving Averages is giving Crossover.
📈 Right now RSI is around 58.
📈 One can go for Swing Trade.
⏱️ C.M.P 📑💰- 1491
🟢 Target 🎯🏆 - 1598
⚠️ Stoploss ☠️🚫 - 1438
⚠️ Important: Always maintain your Risk & Reward Ratio.
✅Like and follow to never miss a new idea!✅
Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes.
Eat🍜 Sleep😴 TradingView📈 Repeat 🔁
Happy learning with trading. Cheers!🥂
Crossover - IRCTC📊 Script: IRCTC
📊 Sector: Railways
📊 Industry: Travel Agencies
Key highlights: 💡⚡
📈 Script is trading near at upper band of BB.
📈 MACD is giving crossover.
📈 Double Moving Averages is giving Crossover.
📈 Right now RSI is around 56.
📈 One can go for Swing Trade.
⏱️ C.M.P 📑💰- 968
🟢 Target 🎯🏆 - 1049
⚠️ Stoploss ☠️🚫 - 933
⚠️ Important: Always maintain your Risk & Reward Ratio.
✅Like and follow to never miss a new idea!✅
Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes.
Eat🍜 Sleep😴 TradingView📈 Repeat 🔁
Happy learning with trading. Cheers!🥂
