Get started

Demand Zone

SOLANA LONG TERM (1D)Solana is in the news of late due to the worry that FTX will have to sell their holdings in SOL and Solana based altcoins. Solana tokens account for $128m out of the $1.5b in assets on the Solana network held by FTX. The fear is that a dump of these coins would be detrimental to the altcoins price. For me the chart is simple. When we look at the 1D chart there is a clear mini range we're working with. Large wicks at the high and low of the range, at the midpoint there is a small bearish FVG just above. I believe this is where we will trade for the remainder of this year. Now that we're at the 0.25 line and looking to react off it, I could see a retest of the midpoint, and if a SFP after tagging the FVG I would look to target the demand zone for a long term hold. For the next bullrun Solana is definitely a large cap alt that is set up to be one of the top gainers. With an ATH of $260, we are already at a great long term hold entry point. However, the best spot buy is in the demand zone. A sweep and reclaim would be great for the bull run to come. The supply zone may be difficult to fill in the next few months, given the FTX news, general market/macro sentiment and recession fears. I would expect a retest to come in Q1 of 2024. If we don't tag the demand zone and move into the supply zone that would be a good short opportunity in my mind. Overall, this is a complicated matter. The token itself has huge potential to reach its ATH in the coming years, but Solana must weather this storm successfully in order to get the chance to reach its potential. Buying blood and being patient will be rewarding.
by ProR35
GBP/USD Trade Opportunity on the 1-Hour Introduction In the fast-paced world of forex trading, seizing the right moment is paramount to success. In this analysis, we’ll delve into a promising short trade opportunity on the GBP/USD currency pair, focusing on the 1-hour timeframe. With a well-defined supply and demand zone strategy, we’re strategically entering a short position as the chart breaches our demand zone, anticipating a move towards the support zone indicated by the blue rectangle. Chart Dynamics: Demand Zone Break As seasoned traders, we recognize the significance of supply and demand zones in determining potential reversal points. In this scenario, our chart has breached the demand zone at the bottom, signaling a shift in market sentiment and providing an enticing entry point for a short position. Trade Parameters To capitalize on this opportunity and effectively manage risk, we’ve developed a comprehensive trade plan with the following parameters: Entry Price: 1.20520 Enter Until: 1.20190 Stop Loss (SL): 1.21020 Take Profit (TP): 1.18920 Risk Management Prudent risk management is the cornerstone of a successful trading strategy. For this trade, we are risking only 2% of our capital, ensuring that our overall portfolio remains protected even if the market moves against us. Conclusion In the dynamic world of forex trading, it’s crucial to remain vigilant and make informed decisions. The GBP/USD short trade on the 1-hour timeframe, initiated as the demand zone is breached, is a testament to a strategy rooted in careful analysis and disciplined execution. By closely monitoring price action and adhering to the outlined trade plan, traders can position themselves for potential profits while safeguarding their capital. Remember, trading always carries inherent risks, and there are no guarantees of success. To navigate the forex market successfully, it’s essential to stay informed, adhere to your trading plan, and continually refine your skills. May your trading journey be marked by precision and prosperity!
Short
by Ju5ke
2
Unlocking the Next Bull CycleBitcoin's journey is often marked by key technical levels, and its monthly chart has a fascinating story to tell. The 0.5 Fibonacci retracement level from the All-Time High (ATH) has historically acted as a formidable resistance. Today, we find ourselves at a crucial juncture, echoing the past. To embark on a new bullish cycle, we need to conquer the 50K milestone. Historical Significance of the 0.5 Fibonacci Level: The 0.5 Fibonacci retracement level is a significant technical marker on the monthly Bitcoin chart. It represents a retracement halfway from the ATH to a significant low, signifying a pivotal point in the asset's price history. Historically, this level has posed a challenge for Bitcoin bulls, often requiring considerable momentum to breach. The 50K Milestone: As we observe the current market dynamics, it's evident that we're in a situation reminiscent of the past. The 50K level is not just a psychological barrier; it's also in alignment with the 0.5 Fibonacci retracement. Breaking above 50K could signify a new era for Bitcoin, potentially initiating a fresh bullish cycle. What to Watch For: Monitor Bitcoin's price action closely as it approaches the 50K level. Look for signs of strong buying pressure, increased trading volumes, and positive sentiment in the crypto community. Be aware of potential retracements or false breakouts; these are common in the crypto market. The Bigger Picture: While breaching 50K is a significant milestone, it doesn't guarantee an immediate and sustained bull run. Consider the broader market context, macroeconomic factors, and institutional involvement in your analysis. Diversify your trading strategy and have risk management measures in place. Conclusion: The 0.5 Fibonacci retracement level has historically held the monthly Bitcoin chart in check. Now, as we approach the 50K level, we stand on the precipice of a potential new bullish cycle. However, history reminds us that we must tread cautiously and stay vigilant. Breaking through 50K could usher in a wave of optimism, but it's essential to be prepared for various market scenarios. Keep a close eye on the charts, follow market sentiment, and, most importantly, manage your risks wisely. The crypto market is full of opportunities and challenges. It's a thrilling journey, and every milestone reached is a testament to Bitcoin's resilience and potential for growth. 🌟📊🧐
INDEX:BTCUSD
by AlexWhale