Spot A Reliable Bottom Pattern 👀Hi Traders, Investors and Speculators 📉📈
Ev here. Been trading crypto since 2017 and later got into stocks. I have 3 board exams on financial markets and studied economics from a top tier university for a year. Daytime job - Math Teacher. 👩🏫
Are we there yet? Are we THERE YET? Now? How about NOW ??
We can't help it - towards the end of a bearish cycle, we're all wondering - when are we bottoming? In today's chart, I've pulled up a few of my favorite candlestick patterns and chart patters. I find these especially useful in higher timeframes. And yes, there are MANY MORE. These are just some of my favorites.
These patterns are what I will be looking for in this part of the cycle (accumulation phase). During this part, there can be lot's of foul play, noise, shakeouts etc. I personally won't be convinced of a reversal until a clear pattern can be observed.
While you're here 🖐 Want to know a little more on how to do distributed entry's / dollar-cost-average? See HERE:
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Chartanalysis
BluetonaFX - GBPUSD Double Top OpportunityHi Traders!
GBPUSD looks bearish. There is a double top forming on the chart, and there are opportunities for short entires. Here are the details:
The market is holding below the swing high resistance at 1.27466.
Preferred Direction: Sell
Entry Level: 1.27069
Stop Level: 1.28375
Profit Level: 1.24325
Technical Indicators: 20 EMA
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Trade safely and responsibly.
BluetonaFX
Ethereum: Fighting Spirit 🔥Ethereum is currently showing fighting spirit and was able to stretch closer to the resistance at $2138 again, which must be overcome in the course of green wave 3. For now, though, the green Zone (coordinates: $1457 - $1754) remains active, as it could be approached again (both with and without forming a new low).
BluetonaFX - SPX Forecast Ahead of Fed SpeechHi Traders!
SPX is trading near its five-month high at 4607.07, and with Fed Chair Powell speaking later, the market could reach this level by the end of the trading week.
Price Action 📊
After the break and close of the previous resistance at 4541.25, the market has refused to go back below this level for the time being, and an ascending price channel has started to form. This indicates that the bulls are currently in control. 4607.07 is the five-month high, and this is the next most likely target the longer we stay above 4541.25.
Fundamental Analysis 📰
Later today, we have Fed Chair Powell speaking; therefore, we must be wary of his speech as he will mostly likely speak about the US' inflation situation, interest rates, and plans for the economy leading up to 2024.
Support 📉
4541.25: PREVIOUS RESISTANCE BREAK
Resistance 📈
4607.07: FIVE-MONTH HIGH
Risk ⚠️
No more than 2% of your capital.
Reward 💰
At least 4% of your capital.
Please make sure to click on the like/boost button 🚀 as your support greatly helps.
Trade safely and responsibly.
BluetonaFX
BluetonaFX - SILVER Targeting Five-Month HighHi Traders!
Silver is trading with bullish momentum after its ascending triangle break and is approaching its five-month high at 25.258.
Price Action 📊
After the break and close above the 20 EMA, the market has been trading with bullish momentum and then broke above the ascending triangle's resistance. We are looking for further continuation towards the five-month high at 25.258, and our plan is to buy market dips.
Fundamental Analysis 📰
Important market events this week that could increase the volatility in the US dollar and therefore in commodity prices are likely to be the ISM data and the Federal Reserve's preferred gauge of inflation, the Core PCE data. We will also have US GDP later in the week, and to round off the week, Fed Chair Powell will be speaking.
Support 📉
23.556: PREVIOUS DAY'S LOW
Resistance 📈
25.258: FIVE-MONTH HIGH
Risk ⚠️
No more than 2% of your capital.
Reward 💰
At least 4% of your capital.
Please make sure to click on the like/boost button 🚀 as your support greatly helps.
Trade safely and responsibly.
BluetonaFX
BluetonaFX - USDJPY Further Pressure MountingHi Traders!
There is further downside potential on the USDJPY 4H chart. The current monthly low at 141.152 looks to be the next likely target for a possible re-test of the level.
Price Action 📊
The price action looks bearish, the market swings are getting lower, and the market has been below the 20 EMA for the past week. As long as the market remains below the 20 EMA, our plan is to sell rallies to target exits near 147.152.
Fundamental Analysis 📰
Today we have six FOMC members speaking, and traders will be keeping an eye on their comments regarding inflation and interest rates. Other important market events this week that could increase the volatility in the US dollar are likely to be the ISM data and the Federal Reserve's preferred gauge of inflation, the Core PCE data. We will also have US GDP later in the week, and to round off the week, Fed Chair Powell will be speaking.
Support 📉
147.968: WEEKLY LOW
147.152: MONTHLY LOW
Resistance 📈
148.832: WEEKLY HIGH
Risk ⚠️
No more than 2% of your capital.
Reward 💰
At least 4% of your capital.
Please make sure to click on the like/boost button 🚀 as your support greatly helps.
Trade safely and responsibly.
BluetonaFX
SPY Fly or Die Looks like Q1 2024 is going to be a pivot point. Looking at the weekly tf, The price action curve has stayed consistent over the years. Im not a big fan of alot of indicators but we can see the bullish pressure building and bump and run pattern forming, Measured move from prior LL to Prior HH giving us a target of 700. Also 127 fib ext.
I would love to see the curve tested one more time but if there is a strong break to the top side Im going long on spy
please share your thoughts
Cocoa: Final Surge 🌊Cocoa has now risen more than 26% since the low of the magenta wave (4) and still seems to be dominated by the bulls. We now expect one last surge before the price reaches the high of the magenta wave (5), which shouldn't be too far away, completing the white wave (B). After that, the trend should be down again, starting with the magenta wave (1).
BluetonaFX - EURUSD Trendline Support Break Bears Are In ControlHi Traders!
EURUSD is trading with bearish momentum after a trendline support break on the 1H chart and is on a pullback, which provides potential opportunities for short entries to take advantage of the potential pullback to target levels near the daily and weekly low at 1.09202.
Price Action 📊
After the initial break and close below the support trendline, the market is now on a pullback near the swing high resistance level near 1.27466. Our plan here is to sell rallies and look for exits near the current daily and weekly low around the 1.09202 area.
Fundamental Analysis 📰
Later today, we have ECB President Lagarde speaking; therefore, we must be wary of her speech, as what she says may be potentially volatile, especially for EUR pairs.
Support 📉
1.09202: DAILY AND WEEKLY LOW
Resistance 📈
1.09840: DAILY HIGH
Risk ⚠️
No more than 2% of your capital.
Reward 💰
At least 4% of your capital.
Please make sure to click on the like/boost button 🚀 as your support greatly helps.
Trade safely and responsibly.
BluetonaFX
BITCOIN to continue higher after retest of the support area....BTCUSD
The price made a bullish break of the Bullish triangle pattern, after the break price is currently heading to retest the resistance turn support area around $35K area, after reaching support if price continues to hold above the support, I expect the price to continue higher..
Trade Wisely
*The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
Bullish Flag pattern breakout in PVRINOXPVR INOX LTD
Key highlights: 💡⚡
✅On 1Week Time Frame Stock Showing Breakout of Bullish Flag Pattern.
✅Strong Bullish Candlestick Form on this timeframe.
✅It can give movement up to the Breakout target of 2200+.
✅Can Go Long in this stock by placing a stop loss below 1522-.
GBPUSD to move higher from support area.GBPUSD
The price is currently above support/resistance structure, and price is currently attempting to break above the short-term trendline, If price manages to break above the trendline I expect the price to move higher...
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*The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
Head & Shoulder pattern breakout in M&MMAHINDRA & MAHINDRA
Key highlights: 💡⚡
✅On 1Day Time Frame Stock Showing Breakout of Head & Shoulder Pattern.
✅Strong Bullish Candlestick Form on this timeframe.
✅It can give movement up to the Breakout target of 1715+.
✅Can Go Long in this stock by placing a stop loss below 1545-.