The Importance Of The 50 Week MA Right NowLet's look at the 50-week moving average (350 days) and talk about what it tells us regarding bear and bull market cycles. Here's why we need to watch it closely right now.
Channeltrend
Apple - Still Outperforming Everything!Apple ( NASDAQ:AAPL ) is stronger than 99% of stocks:
Click chart above to see the detailed analysis👆🏻
Despite the recent stock market weakness, Apple is trading at new all time highs. This clearly indicates that buyers don't let this stock down but are rather buying every dip. Even though Apple is retesting a channel resistance, a breakout followed by a rally is definitely possible.
Levels to watch: $230, $280
Keep your long term vision,
Philip (BasicTrading)
Nvidia - The -60% correction is starting!NASDAQ:NVDA is showing us multiple confluences which will lead to a massive move lower.
Be greedy when others are fearful and fearful when others are greedy. But on Nvidia we cannot be fearful yet - so far, the smaller timeframes are still bullish. Everything makes me believe though that we will see a significant move lower soon: Nvidia is retesting massive channel resistance, repeated the previous bullish cycles and is preparing for the next correction cycle!
Levels to watch: $120, $50
Keep your long term vision,
Philip - BasicTrading
EthereumHi guys
We are at the bottom of the upward channel. On the other hand, the amount of Ethereum in the centralized exchange has reached the lowest historical level. It seems that investors are not sellers at these rates.
In the four-hour time frame, it seems that with the consumption of the $2408.3 support area, we can expect a downward trend similar to the scenario from the specified resistance range.
On the daily time frame, according to maintaining the support area and ascending channel, provided that the ascending trend line is maintained, the price area of $2250 can be attractive for buying.
what do you think?
Buy Gold (Xau/Usd) Bullish ChannelThe XAU/USD pair on the M30 timeframe presents a potential Buying opportunity due to a recent formation of well-defined Bullish Channel pattern. This suggests a shift in momentum towards the Upside in the coming Hours.
Key Points:
Buy Entry: Consider entering a Long position around the current price of 2511, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum.
Target Levels:
1st Support – 2537
2nd Support – 2551
Stop-Loss: To manage risk, place a stop-loss order below 2499. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards.
Your likes and comments are incredibly motivating and will encourage me to share more analysis with you.
Best Regards, KABHI FOREX TRADING
Thank you.
Bitcoin - Buyers Are Still In ControlBITSTAMP:BTCUSD is reversing every single rejection of the previous all time high which we saw over the past couple of months, clearly showing that buyers are still overall in control of Bitcoin.
Click link above to see detailed analysis 👆🏻
For a couple of months in a row, Bitcoin has been retesting the previous all time high which was created back in 2021 but was not able to break it towards the upside sustainably. However it is quite likely that we will soon see a bullish breakout considering that investors are literally buying every single dip and traders are too hesitant to sell their positions.
Levels to watch: $60.000
Keep your long term vision,
Philip - BasicTrading
Buy Gold (Xau/Usd) Bullish ChannelThe XAU/USD pair on the M30 timeframe presents a potential Buying opportunity due to a well-defined Bullish Channel pattern. This suggests a shift in momentum towards the Upside in the coming Hours.
Key Points:
Buy Entry: Consider entering a Long position around the current price of 2516, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum.
Target Levels:
1st Support – 2551
2nd Support – 2573
Your likes and comments are incredibly motivating and will encourage me to share more analysis with you.
Best Regards, KABHI FOREX TRADING
Thank you.
Is this what going "parabolic" looks like?Everyone is well aware of the fact that the Fed will soon be cutting interest rates. That's a given. If so, I'll be interested to see just what affect this will have on the market. It's hard to argue that it won't be a positive, but as some would say, there's a reason why the Fed would feel the need to lower rates...a slowing economy! I am not a prognosticator by any stretch, but just a chartist, and as such, it's hard to ignore what is beginning to look like a parabolic feature in the Nasdaq market. How will we know? Once rates are lowered (if and when), we look for either a continuation of the steepest uptrend channel and break of the July high, or down we go with a break of the uptrend channel to support levels.
Thing's about to get WILD! Wilder World has to be one of my favourite crypto projects atm, just because I love everything about this project. They are basicly making a GTA metaverse game and are making the cars, the buildings, billboards, items etc purchasable as unique NFT's. I got to say they are putting some real work in to this and it looks amazing..
The good projects will be the one's sticking around in the crypto space the longest.. Can't believe this is still a #400 coin on Coinmarketcap. I will see this among the top 100 cryptos for sure!
We're currently doing a really nice 3rd bounce from the channel support line. Stochastic is oversold and are turning upwards.
For me this is a longer term #HODL for the bull run, but a nice target would also be at the top of the channel about 400% up from here!
Make sure to follow me on X for more weekly updates: @PuppyNakamoto
Our wolf pack are hunting profits, one block at a time.. 🐺
BITFINEX:WILDUSD KUCOIN:WILDUSDT CRYPTO:WILDUSD
Nvidia - The tide is (finally) turning!NASDAQ:NVDA is about to create a bearish reversal which will lead to a -60% correction!
Charts just don't lie at all - instead fundamentals are always an illusion. Nvidia was retesting a major resistance trendline and is starting a significant bearish reversal. Nothing changed fundamentally but Nvidia is already down -25% over the past couple of days. This is just the beginning of another potential bear market, like we saw it back in 2018 and 2021...
Levels to watch: $55
Keep your long term vision,
Philip - BasicTrading
Sell EUR/USD Bearish Channel (Fed Interest rate)The EUR/USD pair on the M30 timeframe presents a potential selling opportunity due to a recent downward breakout from a well-defined Channel pattern. This suggests a shift in momentum towards the downside in the coming Hours.
Key Points:
Sell Entry: Consider entering a short position around the current price of 1.0825, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum.
Target Levels:
1st Support – 1.0785
2nd Support – 1.0767
Stop-Loss: To manage risk, place a stop-loss order above 1.0845. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards.
Your likes and comments are incredibly motivating and will encourage me to share more analysis with you.
Best Regards, KABHI FOREX TRADING
Thank you.
Apple - Back to no.1 in the world!NASDAQ:AAPL is back to being no.1 in the world after rallying 11% in two days.
After moving higher +25% over the past two months, Apple is now back to being the most valuable company in the world with a market cap of 3.4 trillion dollars. This means that Apple is now back to leading the indices but Apple is also retesting resistance. A pullback is definitely likely considering that trees do not grow to the sky, but the overall trend is simply clearly bullish!
Levels to watch: $170, $215
Keep your long term vision,
Philip - BasicTrading
S32 20% bounce?S32 has retraced from the top of this triangle and looking to find support on this trendline going back to 2015. S32 also has support from a previous channel and support zone at $2.90 all converging in the same area. MACD is also turning up with bullish hidden divergence on the RSI. If breaks below support zone and trendline then will be no trade and could even look too short on a retest. Good luck and happy trading🍀
S&P500 - The beginning of the bear market?SP:SPX potentially created a top and is starting to head lower for the next months.
We have patterns, cycles and market structure and if everything is lining up nicely, there is a high chance you will be right. The S&P500 is currently retesting a major multi-year resistance trendling, is starting to shift bearish on the smaller timeframes and just rallied +50% without any noticeable correction. In a couple of months, we will trade at lower levels!
Levels to watch: $5.500, $4.500
Keep your long term vision,
Philip - BasicTrading
Green week coming?I'm buying some calls here, strike 480 expire 07/26. I think we will have a green week ahead.
S&P500 - Was this already the all time high?SP:SPX is still massively bullish on the smaller timeframes despite retesting strong resistance.
Sometimes trading can be soo simple but yet rewarding. You simply have to buy the S&P500 at support and sell your position at resistance. At the moment, the S&P500 is once again retesting a resistance trendline, which has been pushing price lower for more than 14 years and there is just an extraordinary high chance that we will again see a rejection. Don't say I did't warn you!
Levels to watch: $5.600, $4.800
Keep your long term vision,
Philip - BasicTrading
AMD - Correction of -40% over?NASDAQ:AMD just created a new all time high, however we have to be quite careful now.
Volatility is the basis of every major trading position and trading profit. Advanced Micro Devices is just such a stock which offers volatile swings every now and then. Currently Advanced Micro Devices is retesting the previous all time high which is now acting as support. I do expect a move higher but there is simply no good risk to reward setup at the current levels.
Levels to watch: $155, $110
Keep your long term vision,
Philip - BasicTrading
Bitcoin - Half way to the $200.000 target!BITSTAMP:BTCUSD is consecutively retesting the previous all time high and breaking out soon.
You all know my life motto: Keep your long term vision. This is especially true when it comes to trading the major swings on Bitcoin. These very volatile short term moves will always give you a false perception of the underlying trend. And the underlying trend on Bitcoin is bullish, despite the recent back and forth at the previous all time high. I do expect a major bullish breakout soon.
Levels to watch: $67.000
Keep your long term vision,
Philip - BasicTrading
Nvidia - Still waiting for a correction!NASDAQ:NVDA is clearly overextended but still not bearish at all on the smaller timeframes.
If you watched my previous analysis on Nvidia, you know that I have been bearish for quite some time and totally wrong so far. But there was never ever any single sign of weakness so I did not take any trade betting on price to go down. Nvidia is still retesting resistance, it is still somewhat overextended and I still do expect a visible rejection away towards the downside.
Levels to watch: $140
Keep your long term vision,
Philip - BasicTrading
Apple - Caution at the all time high!NASDAQ:AAPL just created a new all time high, however we have to be quite careful now.
Trading cycles in an overall uptrend is one of the most profitable trading approaches. You are trying to capitalize on the major upswings and missing out on the major downswings. Apple is currently retesting resistance and probably creating the top of the previous cycle. I am waiting for a move back to support before we will then see the next major bullish cycle on Apple.
Levels to watch: $240, $170
Keep your long term vision,
Philip - BasicTrading
GBPUSD Medium cycleGBPUSD is in a bullish channel.
its have 2 hunts to this channel lines.
i think normal time for third hunt is at next 22 bars in 1.29840 price.
now if its hunt sooner its show that the power of bearish trend increasing.
and if its hunt later show that the bullish trend power is increasing.
why do i thinks so ? because i compare that whit its last hunt.
also the DXY had strong bearish trend and its resting now.
i think the bearish trend can continuo.
Its just my personal comment please don't trade whit this.
I have no responsibility for your money.
Nasdaq - (Bullish) Clarity in two days!TVC:NDQ is now retesting a very important inflection level and maybe attempting a breakout.
Parabolic rise or -20% correction over the next couple of months. So far there is a lot of uncertainty as to whether the Nasdaq will manage to break above the current resistance trendline. We simply have to wait for this monthly candle closure as well as the monthly candle closure of July until we can make a clear prediction. So far, everything is still possible!
Levels to watch: $20.000, $16.000
Keep your long term vision,
Philip - BasicTrading
XAU/USD H1 Channel Formation The XAU/USD pair on the H1 timeframe presents a potential selling opportunity due to a recent formation of well-defined Channel pattern. This suggests a shift in momentum towards the downside in the coming Hours. OANDA:XAUUSD
Key Points:
Sell Entry: Consider entering a short position around the current price of 2357, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum.
Target Levels:
1st Support – 2328
2nd Support – 2309
Stop-Loss: To manage risk, place a stop-loss order above 2370. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards.
Thank you.
