Chart Patterns
NZDCAD Will Go Lower! Sell!
Take a look at our analysis for NZDCAD.
Time Frame: 1h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is trading around a solid horizontal structure 0.833.
The above observations make me that the market will inevitably achieve 0.830 level.
P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.
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BTC Bitcoin reversal long entryBTC Bitcoin reversal long entry. We have a nice confluence of golden pocket, FVG, weekly level, and 200 ema at $68,500 for a nice entry on this bounce. 2:1 risk reward gets us to the pivot point but it is a Friday so not sure how much volume we'll get. Good place to DCA as well if you're anticipating breaking ATH in the coming days.
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The price is moving in a descending channel on the 1-hour frame upwards and is expected to continue
We have a trend to stabilize above the moving average 100 again
We have a downtrend on the RSI indicator that supports the rise by breaking it upwards
We have a support area at the lower limit of the channel at a price of 0.002070
Entry price 0.002140
First target 0.002242
Second target 0.002353
Third target 0.002490
GOLD: Strong Bearish Bias! Sell!
Welcome to our daily GOLD prediction!
We made our analysis today using SMC and ICT trading theories, which, combined with our trading experience all point to the downside. So we are locally bearish biased and the target for the short trade is 2,747.621$
Wish you good luck in trading to you all!
Trump Stock DJT Has Had a Wild Week. What Does Its Chart Say?Former President Donald Trump’s Trump Media & Technology Group NASDAQ:DJT has been all over the map this week as we head toward Election Day, up 20% one day and down 10% the next. Let’s check out its technical and fundamentals.
Trump Media & Technology’s Fundamental Analysis
DJT -- parent firm of Trump’s Truth Social social-media site and other assets -- has publicly traded for about seven months now since going public via a merger with a special purpose acquisition company.
Wall Street expects DJT to report quarterly earnings around Nov. 8, but I personally don't think prospects for what the firm releases that day are having much to do with how the stock has been trading.
I don't know of any sell-side analysts who cover the stock, so there are no earnings estimates that I’m aware of.
In terms of recent fundamentals, DJT posted a $0.10 GAAP net loss per share for its June quarter on about $800,000 of revenue.
Operating cash flow printed at a negative $21.4 million, but that cash burn appears to be of little concern to DJT given that the company’s balance sheet appears to be in good shape.
DJT had $344 million of cash on hand and $353.5 million of current assets as of June 30. Current liabilities added up to $14.3 million for a current ratio of 24.72.
You know what’s traditionally good enough to pass muster with many investors? A current ratio of 1.0.
In other words, Trump Media appears to have an incredibly strong balance sheet for a business of its size (i.e., very small). In addition, there’s no debt on the firm's balance sheet.
So, if fundamentals don’t move the stock, what does?
First, it seems like shares rise or fall on any headline regarding the former president and his prospects for winning back his old job in next week’s election.
Second, I suspect that today’s algorithms are designed to force an overshoot up or down for any stock where that can be done – and DJT certainly seems like such a stock.
DJT’s Technical Analysis
Now let’s look at Trump Media’s six-month chart through midday Thursday (Oct. 31):
Readers can see that DJT broke out in mid-September from a so-called “falling wedge,” which is historically a pattern of bullish reversal.
The stock bottomed at $11.75 and broke through both its 50-Day Simple Moving Average (or “SMA,” denoted by the blue line above) and its 200-Day SMA (the red line above) like a hot knife through butter.
In cases like this, many investors will use a stock’s 200-Day SMA as a pivot point, as the 200-day line is senior to the 50-day line. And in this case, the 200-Day SMA has a higher price level -- $35.80 for the 200-day line vs. $22.80 for the 50-day one.
At the time that DJT cracked the 200-Day SMA, it stood close to the $35 level. Hence, $35 appears to have become the stock’s potential pivot point.
Meanwhile, DJT’s Relative Strength Index (the gray line at the chart’s top) is narrowing, but was still sending a somewhat strong signal of about 56 as of Thursday afternoon.
Separately, the stock’s daily Moving Average Convergence Divergence index (or “MACD,” denoted by the black and gold lines and blue bars at the chart’s bottom) looks historically very bullish.
The histogram of Trump Media’s 9-Day Exponential Moving Average (or “EMA,” denoted by the blue bars above) has been well above zero for more than a month now. Meanwhile, the stock’s 12-Day EMA (the black line above) is running above DJT’s 26-Day EMA (the gold line). That’s all typically bullish.
Still, DJT’s chart as a whole is telling me that technically speaking, the stock is close to fairly priced based on its recent $35 pivot point. (Shares were trading at $36 on Thursday afternoon as I wrote this.)
However, there are a few days to go before this election cycle closes, and a new pivot to the upside formed at Wednesday’s intraday high of $54.68. The downside pivot is now DJT’s old upside pivot of about $35 (its 200-day SMA).
Crack that line and help could potentially next show up for the stock at its 21-Day EMA and 50-Day SMA.
(Stephen “Sarge” Guilfoyle is Moomoo Technologies Inc.’s markets commentator. At the time of this writing, he had no position in DJT.)
This article discusses technical analysis, other approaches, including fundamental analysis, may offer very different views. The examples provided are for illustrative purposes only and are not intended to be reflective of the results you can expect to achieve. Specific security charts used are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security. Past investment performance does not indicate or guarantee future success. Returns will vary, and all investments carry risks, including loss of principal. This content is also not a research report and is not intended to serve as the basis for any investment decision. The information contained in this article does not purport to be a complete description of the securities, markets, or developments referred to in this material. Moomoo and its affiliates make no representation or warranty as to the article's adequacy, completeness, accuracy or timeliness for any particular purpose of the above content. Furthermore, there is no guarantee that any statements, estimates, price targets, opinions or forecasts provided herein will prove to be correct. Moomoo is a financial information and trading app offered by Moomoo Technologies Inc. In the U.S., investment products and services on Moomoo are offered by Moomoo Financial Inc., Member FINRA/SIPC.
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CADJPY The Target Is UP! BUY!
My dear subscribers,
My technical analysis for CADJPY is below:
The price is coiling around a solid key level - 109.29
Bias - Bullish
Technical Indicators: Pivot Points Low anticipates a potential price reversal.
Super trend shows a clear buy, giving a perfect indicators' convergence.
Goal - 109.91
About Used Indicators:
By the very nature of the supertrend indicator, it offers firm support and resistance levels for traders to enter and exit trades. Additionally, it also provides signals for setting stop losses
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WISH YOU ALL LUCK
Bulls and Bears zone for 11-01-2024Could yesterday's sell off be just like Halloween
surprise ?
Event though, S&P closed at its Low, but ETH session traders are trying to rally.
Level to watch: 5763 --- 5765
Reports to watch:
US ISM Manufacturing Index 10:00 AM EST
US Construction Spending 10:00 AM EST
10yr TreasuryGoing into NFP, before a POTUS election and FOMC guidance next week, the 10yr has been quite a moving train these last few weeks.
There are too many gaps to be filled to call any lower pricing target. With the November contract taking over volume yesterday we may see some calming down while the fundamentals reveal themselves these next few business days.
I'm sure most new home buyers or potential buyers would appreciate some retracement on this run since it will reduce the 30yr mortgage rate. For some USDA purchasers the 5yr may also hold some relevancy.
Also, as a side note the 10yr has either dipped (.2% to .5%) or went sideways when reading the last 5yrs of price action (Oct31st-Nov25th zone).
UPTOBER ENDS Bitcoins monthly close is behind us and it's an interesting one...
For most of the last day of the month BTC was above the previous monthly close high of $71,413.40. However, Bitcoin failed to close above that level coming up 1.67% short.
Despite this the monthly candle is very strong, historically October is a good performer hence the "UPTOBER" nickname and this time around was no exception with an +11% move. I said in a previous post that a retest of the '21 ATH @ $69,000 is possible and likely, in the last 8 months BTC has routinely rejected off this level with no acceptance above, just SFPs galore. This is the chance to retest and accept as new support. that would set up a move for ATH and above.
Q4 so far has been positive, we know that this month will be a strange one as the US election is in a few days and can sway markets so volatility can be expected. In the end I think the trajectory is new highs by the end of the year.
EURUSD: Will Keep Falling! Here is Why:
It is essential that we apply multitimeframe technical analysis and there is no better example of why that is the case than the current EURUSD chart which, if analyzed properly, clearly points in the downward direction.
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bitcoin pull back and resurge to new all time high We are seeing a rising wedge pattern on the 4 hr and daily charts ,which the distance at the beginning of the rising wedge pattern indicates a drop to around $62,800.00 . I would put in a long position at $62,800.00 with a tight stop loss. And with the uncertainty of the up coming election pushing the stock market down crypto is following suit
XRP Thesis AI TodayInvestment Thesis
As a trader specializing in intraday scalping strategies, the current market conditions for XRP present a favorable opportunity for entering a LONG position. The recent surge in price following Ripple's escrow release has created a bullish sentiment, supported by significant trading volume and a long account ratio above 0.5000. Given the current price of XRPUSDT at $0.5188, it is essential to monitor key technical indicators closely to identify optimal entry points.
Data Analysis
Open Interest: Currently showing a strong bullish sentiment among top traders, indicating a high level of market engagement.
Weighted Funding Rate: Remains positive, suggesting that traders are willing to pay to hold their LONG positions.
Liquidation Levels: Relatively stable, providing a buffer against sudden price movements.
Analysis: The strong bullish sentiment and positive funding rate support the decision to hold long positions. However, the recent news about Ripple's escrow release requires vigilant monitoring to manage potential impacts on market sentiment.
CoinMarketCap Data
Current Price: $0.5188
Market Capitalization: Approximately $21 billion.
Circulating Supply: 132 billion XRP.
24-Hour Trading Volume: $157,865,192, reflecting active market participation.
Liquidity Score: High, ensuring ease of entry and exit for trades.
Market Cap Fluctuations: Slight fluctuations align with observed price movements, supporting a scalping approach provided that robust risk management strategies are in place.
Analysis: The substantial trading volume and high liquidity score indicate strong market interest in XRP, supporting the scalability of intraday scalping strategies. Stable circulating supply and market cap further reinforce the potential for sustained trading activity.
Sentiment Analysis
Sentiment Score: 65%, indicating a neutral to slightly positive sentiment towards XRP.
Top Crypto Sentiments: "Optimism" and "Anticipation."
Implications: The moderately positive sentiment suggests potential for a short-term price rebound, aligning with the observed technical indicators and supporting the decision to hold long positions with vigilance.
Recent News Highlights:
Ripple's Escrow Release: Impacting market sentiment with mixed reactions.
Technological Integrations: Announcements regarding integrations with new platforms can influence trading dynamics.
Social Media Sentiment: Cautious discussions around potential volatility stemming from Ripple's escrow activities.
Analysis: The interplay between Ripple's escrow release and technological advancements creates a dynamic trading environment for XRP. Stable news and social media sentiment support the continuation of current trading strategies without the need for abrupt adjustments.
Binance Data
Volatility Index: Moderate, suggesting manageable price fluctuations.
Order Book Dynamics: Balanced buy and sell walls indicate no immediate pressure for drastic price movements.
Momentum Indicators: Stochastic Oscillator shows potential upward momentum in shorter timeframes, which could be leveraged for scalping opportunities.
Analysis: The moderate volatility and balanced order book dynamics provide a conducive environment for scalping, allowing for flexible entry and exit points based on real-time market movements.
Technical Analysis (Enhanced)
Relative Strength Index (RSI)
1-Day (1d) Chart: 55.8200, indicating a neutral stance but approaching overbought conditions.
4-Hour (4h) Chart: 60.0000, nearing oversold levels.
1-Hour (1h) Chart: 53.5900, suggesting a neutral position.
Interpretation: While the daily RSI indicates a neutral stance, the 4-hour RSI is nearing oversold levels, and the 1-hour RSI suggests opportunities for short-term rebounds.
MACD (Moving Average Convergence Divergence)
Status: Currently bullish crossover on the 15-minute chart.
Interpretation: The bullish crossover on the 15-minute chart offers potential entry points for long positions, despite a generally cautious outlook.
Bollinger Bands
Current Position: Price is nearing the lower band at $0.5100, suggesting a potential reversal.
Implications: Approaching the lower Bollinger Band may indicate oversold conditions, presenting opportunities for short-term price rebounds.
Moving Averages
MA20: $0.5100
MA50: $0.5000
Price Position: Currently above both MA20 and MA50, suggesting a continuation of the bullish trend.
Stochastic Oscillator
Status: Entering the overbought region, indicating potential bullish momentum.
Interpretation: The Stochastic Oscillator's movement into the overbought region supports the possibility of a short-term price increase.
Average True Range (ATR)
Status: Rising, indicating increasing volatility.
Implications: Higher volatility presents both opportunities and risks for scalping strategies. Traders should adjust stop-loss and take-profit levels accordingly to manage potential sudden price movements.
Summary of Technical Indicators
RSI: Neutral on the daily chart, nearing oversold on the 4-hour chart, and neutral on the 1-hour chart.
MACD: Bullish crossover on the 15-minute chart.
Moving Averages: Price above MA20 and MA50 supports the bullish trend.
Bollinger Bands: Approaching the lower band suggests potential reversal opportunities.
Stochastic Oscillator: Entering the overbought region indicates potential bullish momentum.
Volatility Analysis
Average True Range (ATR): Rising, indicating increasing volatility.
Implications: Higher volatility is favorable for scalping, providing more significant price movements that can be capitalized on. However, it also increases the risk of rapid losses, necessitating strict risk management strategies.
Order Book Dynamics
Buy Walls: Significant buy walls around the $0.5100 level, acting as a strong support zone.
Sell Walls: Sell walls near $0.5300 may cap upward movements.
Analysis: Strong buy walls provide a safety net against significant price drops, while sell walls can limit upward price movements. Traders should monitor changes in order book depth to anticipate potential shifts in market sentiment.
Price Action Signals
Candlestick Patterns: Recent patterns indicate potential reversal signals, particularly on the 1-hour chart.
Breakouts/Reversals: Watch for breakouts above resistance at $0.5300 or reversals at support levels to guide entry points.
Momentum Indicators
Stochastic Oscillator: Entering overbought region on the 15-minute chart, suggesting a potential reversal if confirmed by other indicators.
Momentum Indicators: Indicate a slight uptick, supporting the possibility of a short-term bullish move.
Market Sentiment
Real-time sentiment analysis indicates a cautious optimism, with traders anticipating potential bullish movements.
Trade Recommendation
Outcome: OPEN_LONG
Confidence Level: 85%
Current Price: $0.5188
Stop Loss: $0.5100
Take Profit: $0.5300
Exit Point: $0.5250
Entry Signal Criteria
Timeframe: 1-hour
RSI: Above 55
MACD: Bullish crossover
ATR: Rising, indicating increasing volatility
Bollinger Bands: Price breaking above the lower band, suggesting a potential reversal
Stochastic Oscillator: Entering overbought region
Action Plan
Monitor the Price Closely:
Breakout Strategy:
If Price Holds Above $0.5300:
Action: Consider maintaining or adding to the long position.
Adjust Stop Loss: Tighten the STOP_LOSS to $0.5250 as the price approaches resistance levels to minimize potential losses.
Take Profit Strategy:
As Price Approaches $0.5300:
Action: Consider taking profits.
Adjust Exit Point: Move the EXIT_POINT to $0.5250 to secure profits.
Risk Management:
Set Stop Loss at $0.5100 to limit potential losses.
Take Profit at $0.5300 to capitalize on expected price movement.
Exit Point at $0.5250 as an intermediate target.
Be Prepared to Act:
If RSI Falls Below 50:
Action: Indicate a potential reversal; consider taking profits or adjusting positions accordingly.
Monitor Market Sentiment:
Stay informed about any changes in market sentiment or technical signals that could impact the trade outcome.
Important Considerations
Only recommend OPEN_LONG when enhanced indicators align to signal a strong entry point.
Avoid entries during high-risk periods.
Continuously monitor for sudden changes and adjust the strategy to prevent losses due to unexpected price movements.
Assumptions/Limitations
This analysis is based on current market conditions and available data. Rapid market changes may affect the accuracy of predictions. Always consider personal risk tolerance and market volatility when trading.
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DC. Parabola?If you look closely, you can see a parabola forming here, originating from $0.000215 level. Probable level of the parabola top may be equal to the height of the channel - that is, the level to which the price will reach upon breaking through descending channel. Again, the price has touched the level of June prices. This means that we have a sideways trend for 140 days and those who accumulate in it are buying the bottom.