Get started

Caution

Chipotle (CMG): Awaiting strong correction in bearish waveAfter the recent 50-1 stock split, we revisited Chipotle's chart, refining our analysis for a clearer picture. With the adjusted setup, we’re more confident in our outlook for a potential bearish correction. Our initial turn-around zone was spot-on when factoring in the split, and we remain committed to our analysis. Today, NYSE:CMG reached the targeted Wave B area at the 61.8%-78.6% Fibonacci level. Immediate reactions are often rare, but we believe a reversal could materialize soon. We’re eyeing the range between $43-$26, near the trendline, as a potential target zone for the next phase in this corrective wave pattern. In the second quarter, Chipotle posted an 18.2% year-over-year revenue growth, boosted by an 11.1% rise in comparable restaurant sales and over 8% transaction growth. The earnings report tomorrow will likely attract more investor attention, but our approach focuses on technical entries at key levels rather than earnings reactions. We have alerts set and are prepared to buy when the scenario aligns. Until then, patience and disciplined timing will guide our approach.
NYSE:CMGShort
by freeguy_by_wmc
McDonald's (MCD): New setback after quarter pounder incidentOne month ago, we predicted McDonald’s would push into the 127.2%-138% range at max, and now the stock is reacting precisely as we expected. Pre-market trading shows a 6% drop following the news from Tuesday. The Centers for Disease Control and Prevention (CDC) has reported one fatality and ten hospitalizations linked to McDonald's Quarter Pounder burgers, resulting in the fast-food chain pulling the item from several menus. This incident has brought McDonald's stock back into its previous range, signaling that this wave (B) should mark the local top for now. If we are correct, we expect to see a 5-wave structure downward from here. While there could be a brief relief pump, we anticipate the stock falling below the wave (A) level of $243. We are patiently monitoring the situation, and if a favorable short setup presents itself, we will share the entry details. For now, we are watching how the news unfolds and waiting on the sidelines.
NYSE:MCD
by freeguy_by_wmc
Airbnb (ABNB): Holding the line, but for how long?!After charting Airbnb one month ago, we’ve seen another slight dip, and one of our members rightly pointed out that Airbnb has reacted well to the $113.60 price level. This level has acted as support for the fourth time now, and it seems like it could hold. However, t here’s a big BUT —we’re not placing an entry just yet. Trying to catch the exact bottom of Wave 1 can be risky and extremely difficult. Instead, we are more focused on waiting for a possible short opportunity if Airbnb rises again. Airbnb continues to struggle, and we don't want to catch this falling knife too early, risking unnecessary losses. We’ll keep monitoring the situation closely, and if we gain more confidence that this is indeed the end of Wave 1, we’ll let you know. 🫡
NASDAQ:ABNBLong
by freeguy_by_wmc
2
2yr Yield - FEDFUNDS "Inversion"Over the past ~25yr, we've seen 3 instances of 2yr Yield dropping below the FEDFUNDS rate set by the Federal Reserve. All 3 instances coincide with Recessions. On this chart, you see the Yield Differential (Yellow), the SPX (Candles), along with the time of said "Rate Cycle Inversions" (Blue Bar Counts Below Price). As you can see, all 3 previous instances lead to significant corrections and/or volatility with notable downside. Not since the 2008 "GFC" have we seen an "inversion" of this magnitude. While correlation is NOT causation...It can be a "warning light" signaling 'Danger Ahead'. It is certainly forewarning us that the probabilities of a recession/down-turn are gaining momentum. Yes, people have been calling for Doom n Gloom, "Top is In", Recession imminent... for a couple years now. And I am not recommending you sell everything and hide under a rock. What I am recommending however, is that you reduce leverage if you have any, perhaps lock in some profits while you're "on top", and head into the coming days/weeks/months with eyes wide open, alert to potential quick corrections when this wild ride inevitably 'ends'. Each instance resulted in the "recent lows" being violated. If history rhymes this time, that could mean low 3k's incoming for SPX. COULD. Can your portfolio/strategy/mindset handle that kind of volatility/drawdown? Just some food for thought. As always, good luck, have fun, and practice solid risk management. Thank you for your time and consideration.
SP:SPX
by mrjones2020
Gold (XAUUSD): Bearish Signals Hint at Possible Drop to $1000!Upon examining the monthly gold chart, it appears there could be a significant price drop, a secondary scenario in our analysis. We don't foresee a 50% decrease in the near future, though it's not impossible, especially if the market downturn affects all sectors, including gold. It's crucial to consider all possibilities due to market unpredictability, even a drop to $1000 per ounce. This view is backed by a bearish RSI divergence since 1966 and signs that we might be completing the first 5-wave cycle, which could reach up to $3000 per ounce but should not exceed this level. Currently, the apparent breakout seems to be a fake-out. Surpassing $3000 would mean our analysis underestimates the bullish potential. Elliott Wave Theory suggests Wave 5 might break out from the trendline formed by Waves 1 and 3, create a fake-out, then sharply decline, aligning with our secondary scenario for gold. We plan to further explore and outline our primary scenario in the next section. Anyway, when closely examining the 12-hour gold chart, we primarly anticipate a continued upward movement rather than a sharp downturn. We believe that the minor Wave 1 has concluded, and we should see a retracement to the 50-61.8% Fibonacci level, where we expect to find support at the High-Volume Node. The recent upward trend has been quite extreme. Therefore, we predict finding support between $2,200 and $2,130, before potentially breaking through the $2,500 mark, which we expect to coincide with the completion of the major Wave (3) or minor Wave 3.
OANDA:XAUUSDLong
by freeguy_by_wmc
BTCUSD Daily Rising Narrowing WedgeBTC/USD on the Daily BTC is moving inside a rising wedge with a support that goes back to October of 2023. Rising wedges have a bearish bias. If the rising support fails to hold, the 50/100 SMA area will likely get a test, and possible the 200 SMA, both of which coincide with major order blocks. First order block lines up with the .236 fib retracement level. Second order block lines up with the .382 fib retracement level. I don't think this move is worth a play in either direction, so this idea is neutral. Just sharing for the sake of sharing. NFA Do your own DD
BITSTAMP:BTCUSD
by BallsOfSteel32
Oracle (ORCL): Bearish Scenario with Long-Term PotentialSince our last analysis of Oracle on the daily chart, there has been little significant change. The stock moved into our Wave (B) zone between $128 and $138, and after reaching a high of $132.77, it was rejected. A trendline was broken but quickly reclaimed, suggesting a potential push upward. We anticipate Wave 3, the subordinate wave, to find support around $91 to $86. Currently, everything indicates a falling trend, and unless the price rises above the recent high of $132.77, we expect continued downward movement. However, our primary scenario remains bearish, expecting a further sell-off down to the range between $80 and $50. This range is broad but suitable for long-term entries. We see no issue with the size of this target zone, as it offers good long-term potential.
NYSE:ORCLShort
by freeguy_by_wmc
Meta Platforms (META): Ready for a Correction?We initially set our maximum target at $510, and the price climbed to $531—a difference of only about 4%, which is quite close given the magnitude. We're satisfied with our analysis so far and want to stay within this timeframe. While it's possible that Waves 3 and 4 haven't fully played out yet, we need to consider that Wave 5 in Meta often tends to be longer. This historical pattern suggests that the current Wave 5 might have extended similarly. If Waves 5 and (1) are not yet complete, we would need to see the price rise significantly, surpassing $575. Such a move would indicate that the bullish cycle isn't finished, and we might see a further upward spike before a deeper correction. However, the RSI shows a bearish divergence: lower lows on the RSI while the price chart shows higher lows. This divergence is typically a bearish signal and shouldn't be ignored, as it often leads to price corrections. Even though we have closed the gap, we believe that a further decline is possible, potentially down to around $384 to complete Wave A. An ideal entry zone for us would be around $306, with a worst-case scenario down to $181. This analysis takes into account both historical price patterns and current indicators to inform our strategy moving forward. Keep in mind even though META seems to be a huge organisation we have seen some bigger pullbacks in the past.
NASDAQ:METALong
by freeguy_by_wmc
BTCUSD: Caution Despite Bullish TrendThe chart currently displays a rising wedge pattern on BITSTAMP:BTCUSD , a configuration often preceding a bearish reversal. Despite the recent price decline, the market trend is still upward, and prices are consolidating within the expected range. Currently, the price is positioned in the middle of the wedge's range, indicating a neutral stance. Traders should monitor the price movement closely in the coming days for signs of either continuation or reversal. After the high on November 9, the price action retraced to the 23.60% Fibonacci retracement level, a pattern that is seemingly repeating itself as we observe the current retracement. The RSI indicator suggests that the market is potentially overbought, indicating exhaustion, which could lead to bearish divergence. However, there is still a possibility for the price to push upwards, challenging the resistance zone between $46,000 to $48,000 before any reversal could be confirmed. From a trading perspective, the Bonsai indicator has not signaled a short position yet, hence our current long position. However, given the rising wedge formation, we are taking partial profits and closely monitoring for any indication of a trend reversal. In terms of recent fundamental news, Bitcoin has seen a mix of potential bullish drivers, such as increased adoption by mainstream finance platforms and positive developments in blockchain scalability solutions. Yet, these factors don't guarantee continued price increases; past market cycles have shown that Bitcoin can experience significant corrections despite positive news.
by bonsai_trade
NASDAQ Bearish DailyI'm Bearish on Nasdaq, Do to my view on TVC:DXY : We have Divergence on Daily Time Frame and I'm really looking forward to see Nasdaq Reach 14580 and also we have So much Geopolitical events going on in Middle-East. this will be my Bias for Day trade for up coming weeks. be cautious , This is not a good time to ignore Proper Risk Management These days. Write me your opinion on the Trading Pair! Disclaimer : This is just my Personal Anticipation on Nasdaq, Do NOT use this Analysis for your own trading With Real Money. Do your own research please. Sincerely, Sobhan JTN
CME_MINI:NQZ2023Short
by sobhanjtn
Why I'm Betting Against Bitcoin: Signs Point to a Downturn Bitcoin has been on a run in recent months. However, with the Ichimoku Cloud, we are seeing signs of potential resistance coming up in the near future. This suggests that a correction or even lower lows could be on the horizon for the popular cryptocurrency. According to my analysis, Bitcoin has about HKEX:3 ,000 left of price to the upside before it reaches this resistance level. Once it hits this point, we could see a significant pullback in price as investors take profits and the market adjusts. While this doesn't necessarily mean the end of Bitcoin's long-term potential, it does suggest that investors should be cautious and consider taking some profits off the table to mitigate potential losses.
COINBASE:BTCUSDShort
by UnknownUnicorn910751
Close but not quite readyPaypal is down 65% from its ATH last July. It's now flirting with a supply zone that stretches back to 2017. While I'm seeing Bullish Divergence here, I'm also seeing a downward sloping trendline that makes me think we might see one more sharp move down (into the supply zone) before establishing a bottom. If you're a long-term investor, this could be a great place to start building (or adding to) your position. -Mercury ---------------------------------------------------------------- These are my personal views and not financial advice. Please do your own research before investing. I'd love to hear your thoughts, ideas and feedback. Feel free to Comment and I'll try and get back to you quickly. If you appreciated this analysis, consider Liking or Following . Thanks!
NASDAQ:PYPLLong
by mercury_rising
1
🤖 SELLING PROGRAMS ARE RUNNINGTicks have sustained for the last 45 mis in the -1000 level which is a sign of caution. ↘️ Generally, when we see sustained selling like this it is algos running in the background. 🙅‍♀️The Fed did not raise rates today - it could have happened but it was unlikely. They did walk back their talk a bit, saying a rate hike would "soon be appropriate" which is a ways of saying they will continue to evaluate the sitaution. All of this should be short term bullish for stocks, ideally into the end of the month. I'll give this a little time to see if there is anything else that makes sense to add here. I want to keep exposure modest. I am 90% cash and 10% in positions with very tight stops. Do not break rules when volatility expands! ⚠️
TShort
by TintinTrading
Buyers BewareLUNA needs a cooldown. Bearish divergence on both the Daily and 4-hour charts. Buyers are exhausted. Look for profit taking and a potential break of the wedge support. Momentum could carry the price higher, but this is definitely not the place to gamble on a long position. Good Luck. ---------------------------------------------------------------- These are my personal views and not financial advice. Please do your own research before investing. I'd love to hear your thoughts, ideas and feedback. Feel free to Comment and I'll try and get back to you quickly. If you appreciated this analysis, consider Liking or Following. Thanks!
LShort
by mercury_rising
1