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Confluence

simple?this is why i'm macro bull *reminder to pinch/squeeze scales to snap shapes back into place, shoutout to my fav tradingview glitch* i'd posted an idea like this before when i was just a baby, monthly spiral made from 21 tops then visually fit, but i jumped the gun and didn't consider diff orientations, or fit to wicks...so i tried to be more careful here. could also just be confirming my bias lol which is of course the criticism everyone makes with geo / trendlines whatever. but i also wanted to show how the spirals (all made from the 2021 top wicks on their respective timeframes. backwards - november to may. dashed = counterclockwise; solid = clockwise. then visually fit to prior tops/bottoms) look different depending on timeframe, so you shouldn't take them as gospel. also, scale changes them drastically (even when you lock the scale like a good lil degen). but an idea i was toying with is that maybe they call different supports/resistances...like...the weekly spiral calls the early 2022 support. idk, there are so many ways to draw them, and they're just a tool like everything else, which is why confluence with things like fibs and price action is important. i love seeing the symmetry and the harmony, legit fascinated by this stuff en route to cracking the code <3 stay safe reminder looking at 18.5 for retest, then macro bull eng.teancum.es
INDEX:BTCUSD
by FinanciallyCodependently
NATGAS Long Update! Buy! Hello,Traders! Here is another dimension To the NG bullish forecast That I posted last week. In there we established That the price is about to retest The long-term rising support line From where the rebound is almost Inevitable. Now, the price has indeed Almost reached that support and today We are taking a closer look at the gas chart. As you can see the rising support is Confluencing with the horizontal support level Which reinforces our bullish bias And we are already seeing a bullish reaction So I think that we can expect a move higher And a retest of the local Horizontal resistance level above Buy! Like, comment and subscribe to boost your trading! See other ideas below too!
NYMEX:NG1!Long
by TopTradingSignals
6
Harmonic Pattern with Multiple Confluence for Point X and DThis is an example of regression channel with harmonic pattern. By using Simple OHLC Custom Range Interactive, we able make confluence point (blue) to get Point X of Bullish Butterfly. There are many confluence points (orange flag and teal table), which shows Point D of Butterfly starting to complete. For Point D, best to monitor price changes using RSI or other similar RSI (Cyclic RSI, etc). Indicator used : 1. Regression Channel Alternative MTF 2. HH-LL ZZ 3. XABCD Harmonic Pattern Custom Range Interactive 4. Simple OHLC Custom Range Interactive 5. Cyclic RSI High Low With Noise Filter
MYX:FKLI1!Education
by RozaniGhani-RG
XPEV is forming a reversal pattern perhaps following TSLAXPEV is presently finishing out a falling wedge pattern. As shown on the 30-minute chart, exponential moving averages are falling and converging in the narrow area where VWAP is trending. At lower time frames a "Golden Cross pattern" A stop loss can be set under the double or triple bottom with a target being the 1/2 of the way to swing high about 10% higher based on a routine retracement. This seems to be a quality swing long setup based on a breakout of a falling wedge and a confluence of moving averaged and anchored VWAP I took some call options with a strike of $ 8 and an expiration on 12/16 while expecting over 100 % profit.
NYSE:XPEV
by AwesomeAvani
1
Soybean 20-Week SMA Has Rolled Up Suddenlyand it was retested this week. The Rollover LTE indicator (see script below) helps show why the 20 SMA (white smooth line) rolled up so sharply after steadily declining since June. The current price is above the sharply-dropping weekly closing price from 20 weeks ago (white jagged line), therefore, the 20 SMA has achieved a positive slope in short order. The indicator suggests a close above the 50 week SMA (smooth blue line) which is at 1499’6 would be very bullish . This is because the 20 has been closed above and the slopes of the 20 and 50 are both positive. Closing above the 50 is the last of 4 rollover conditions that need to be satisfied to likely result in a significant pump like those pointed to by the white arrows. A close below the white and blue jagged lines near the red target would cause all 4 criteria to be met for a bearish trade ie . price would be below a downsloping 20 SMA and below a downsloping 50 SMA . There is a time cycle highlighting that the previous two Novembers have been good times to buy. We bounced off of the 9-week SMA and 20-week SMA confluence this week and we’re now challenging the positive-sloping 100-week SMA going into next week. I have a trend-following indicator that was giving a buy signal 3 days ago but the 9/20 confluence with trendlines and a support level looked like a magnet below so I held off. We've now facilitated the auction at that level which resulted in a bounce rather than further downside and I'm hoping my trend-following indicator was right, just early. I’m bullish as long as we stay above the 9/20 confluence level of 1409ish
CBOT:ZS1!Long
by Skipper86
GOLD can move higher? -UPDATE-🦐XAUUSD on the 4h chart reached an important confluence zone between a descending trendline and a daily resistance. The price moved higher as expected and IF the price will break the confluence area we can see a bullish continuation to the 1760 area. --–– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any questions. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger
OANDA:XAUUSD
by InkyGrip
2
SPX Approaches a Confluence of Resistance Levels at 3850Primary Chart: Fibonacci Levels, Symmetrical Triangle Broken in September 2021, Anchored VWAP , and Downtrend Line On September 21, 2022, SPX's had a breakout to the downside from a multi-month symmetrical triangle pattern. This pattern was discussed in a post prior to the breakout. But when price breaks out of technical patterns, price sometimes tends to backtest or retrace back to the very same pattern that led to the breakout. In other words, the breakout occurs with a directional move in earnest only to reverse and retrace back to the pattern or level that price had broken. In the case of SPX's symmetrical triangle, it appears that a retracement to backtest this triangle's trendline can reasonably be expected. The powerful bounce of the YTD low at 3584.13 appears to have begun with two consecutive rally days with very strong breadth readings. Furthermore, important technical levels can often draw price in like a magnet when price starts moving in their vicinity. A confluence of important levels arise in the area around 3850 SPX. Such levels are shown on the Primary Chart above. They include the following: VWAP anchored to the lows of the pandemic crash in March 2020, which currently is at SPX 3856.64 Fibonacci retracement levels at SPX 3851, 3867, 3899, and if price can exceed those levels on a close, 3914.85 major resistance zone that has served as both support and resistance since June 2022 at SPX 3885 to 3920 upward trendline from June 2022 lows that also served as the lower trendline of a symmetrical triangle with price at 3830-3860 over the next 5-8 trading days downward trendline from August 16, 2022, swing highs that run right through this confluence zone in the next week or so 34-day EMA at 3870 as of October 4, 2022, which is shown on Supplementary Chart D at the end of this post A few other Fibonacci levels are shown on the intraday price chart below. They show similar levels to the levels discussed above, with a lower level at SPX 3819.57, which is the 1.272 Fibonacci projection of the first leg of the rally off the September 30, 2022, low, as projected from the start of the second leg of the same rally. This chart also another level at 3859.09, which is the 1.618 Fibonacci projection using the same starting and ending points as the 1.272 projection. Supplementary Chart A: Fibonacci Projections from within Current Rally Off Lows Price may pull back a bit before reaching these targets to consolidate the impressive gains from the past two days. An intraday divergence has already appeared on the 30-minute RSI for SPX. This divergence could easily be erased. Or a further divergences could appear as price pushes a bit higher before consolidating some of the past week's gains. Supplementary Chart B: RSI for SPX on 30-Minute Chart What happens next? Breadth had gotten extremely poor at the lows last month. The percentage of SPX stocks below their 20-day moving average was at similar lows to June 2022 and March 2020. The blue rectangle on the chart below shows how only three negative breadth readings have approached that area in the past 2.5 years: March 2020 lows, June 2022 lows, and September 2022 lows. See Supplementary Chart C. Supplementary Chart C: Extremely Negative Breadth Readings from September 2022 Compared to June 2022 and March 2022 Breadth Readings However, the trend in equity indices remains downward, and until the structure changes, the odds favor trend continuation over trend reversal. But a continuation of the rally makes sense at least in the short term. And the levels discussed can be watched, and as each level is reclaimed, the next level or set of levels can be evaluated. Lastly, the 34-day EMA was discussed earlier in this post but was not shown on the Primary Chart. It appears below. As each day passes, this value could change to some extent. Supplementary Chart D: 34-Day EMA at SPX 3870 as of October 4, 2022 ________________________________________ Author's Comments: (1) Thank you for reviewing this post and considering its charts and analysis. The author welcomes comments, discussion and debate in the comment section. Shared charts are especially helpful to support any opposing or alternative view. (2) This technical-analysis view does not constitute a trade recommendation or trade setup. Instead, it attempts to offer technical commentary that describes and analyzes price levels, trends, price action, or the broader technical environment as of the publication date. Technical-analysis commentary does not equate to trade setups or recommendations. Within a given price environment, traders bear responsibility for their own trading strategy, risk tolerance, and time frame, and for any due diligence associated with such trades. (3) This technical-analysis viewpoint could change at a moment's notice, e.g., when price violates a key level of invalidation for a particular view. Further, proper risk-management techniques are vital to trading success. (4) To the extent countertrend price moves are discussed, consider that countertrend or mean-reversion trading, e.g., trading a rally in a bear market, remains higher risk and lower probability even for the most experienced traders and investors. DISCLAIMER: This post contains commentary published solely for educational and informational purposes. This post's content (and any content available through links in this post) and its views do not constitute financial advice or an investment or trading recommendation, and they do not account for readers' personal financial circumstances, or their investing or trading objectives, time frame, and risk tolerance. Readers should perform their own due diligence, and consult a qualified / licensed financial adviser or other financial or investment professional before entering any trade, investment or other transaction.
SP:SPX
by SquishTrade
10