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Divergence

Ethereum ETHUSDT - Millennium Elliott Wave + 200 weekly MA!- As per my Elliott Wave analysis on the weekly scale, we have 2 impuls waves successfully completed and now we are missing the final impulse wave! - ABC correction (Wave 4) can be done, because wave 4 should not overlap the first wave. - 200 weekly moving average is currently acting as a very strong support! - Also the price is currently sitting on 0.786 fibonacci retracement. - If you take a look at RSI indicator, you can spot a bearish divergence from previous waves, which helps us to identify the Elliott wave structure. - Looks like the bear market can be over and we are ready for another massive bull market! - Check my related analysis for Bitcoin down below!
Long
by UnknownUnicorn2537518
3
The Future: New StrategyFor years, I've been focused primarily on support and resistance , supply and demand , and chart patterns, and it's been profitable, but over the last few months I've been really inspired by traders using Digital Signal Processing as well as divergence and linear regression in their strategies. I've been looking to work off some of the concepts explored by groups like TradeATS, as well as Robot Wealth (no advertisement I've just been inspired by their work), and I'm going to be moving more into that territory going forward. So I'll be relying less on spotting supply and demand zones (sort of) and chart patterns and more focused market cycles; using DSP to lock on to shorter wavelengths, especially in areas where my divergence fractals are piling up one after the other; drawing regression lines through those consolidation periods and using them as a my "t" axis; then, only trading once price swings reach a lower wavelength. When I get divergence signals above the t line, and above consolidation, I'll look to short the market, vice-versa when price is below t. I'm still working out how to deal with (confirm) rejections above and below the t axis, but this is where I'm headed. I once I started recognizing that consolidation doesn't just happen "sideways" and can also happen at an angle I was able to spot these cycles a lot easier by eye. The idea that, even while trending, price still oscillates around a fixed line is really promising, and I'm hoping it's something I can exploit in the future. I'm definitely going to be working on some indicators that can track these cycles as well, so be on the lookout for that. I'm pretty excited with this new direction and if you're interested in seeing how things develop, give me a follow because I'll be posting all about it. I highlighted two examples within the last week of the patterns I'm looking for. We're looking at about 70-100+ pips per swing! I'd take half of that, honestly.
by NeoDaNomad
2
Copper Futures setting up for a potential long tradeCopper / HG Futures market may be setting up for a move back to the upside. After a huge expanding bullish candle in the beginning of June that saw price blast through the volume Point of Control (POC) which goes back to October last year the price then immediately reversed and we have seen a sell off for the majority of this month. However yesterday we saw a spinning top candle form at a critical point which had been a support level, this has also painted bullish divergence on the RSI indicator. Further to the above technical analysis we have also seen net buying activity from commercial operators which indicates a slight under supply : demand imbalance. On many occasions large commercial buying can lead to a price hike as supply squeeze takes hold. Lastly commodity seasonal reports also show that copper does have a tendency to sell off in the beginning of June but then turns around at the end June and price upwards again through until end of July before dipping again coming into August. I would like to see price close above yesterdays close and hold above ~$4.05 which is roughly a support zone. Ideal entries could be above yesterdays high with price targets at ~$4.25 and / or ~$4.40, which are both just below previous support and resistance levels and large volume clusters. However if price cannot break above and hold $4.05 and instead falls and closes under $4.00 then I would not be looking at any long trades.
COMEX:HG1!Long
by gary_trades
BTC/USD Head And Shoulders Pattern 4 HourHi Traders, I'm looking at BTC today on the 4-hour time frame. We don’t know if the bottom is in yet for this recent capitulation but that’s not my problem to solve. I only trade what the charts show me. If a setup presents itself and fits into my list of rules and criteria, then I will jump into a position. I'm noticing a potential head and shoulders pattern. We have full divergence on the MACD What I would like to see is the price close above the neck zone impulsively with substantial bullish volume to accompany that move. I would then look for low bearish volume on a retrace down to the neck zone. Once the price retraces deep into the neck zone, I would open up a long position My target would be the 23.5k level Trade safe out there! The Vortex Trader
BITSTAMP:BTCUSDLong
by TheVortexTrader
Long term buy on GBPUSDGBPUSD is trending on a solid support, on the weekly chart, we will search for buy setups using Elliot Waves, Fib extensions (from many points of view) and Fib retracements. We will also discuss the emotions of traders, where the sellers could start getting exhausted, and taking their profits so we can see the market bouncing. Divergence comes at the end to confirm my trade. Be careful, long-term trading needs a serious risk management, the stop loss is never close. Don't consider the buy order at the end of the video, the recording run out of time and i couldn't explain the entry precisely. This video is in Arabic language (Lebanese), I can start making english videos if you traders on tradingview are interested in my ideas. Thankyou, Joe
Long
by joe-abdallah
2
EUR/USD Double Bottom Daily Time FrameHi Traders, I am looking at this potential Double bottom forming on the Daily Time Frame for EUR/USD We've seen this descending trend line act as resistance since early February. We can see we also have two clear bottoms with accompanied divergence across the MA lines of the MACD. If we can see some impulsive price action accompanied by sizeable bullish volume that breaks us out of the descending trend line, ( and closes above the neck zone ), I would then wait for the price to retrace back into the neck zone before opening up my long position. Targets would be previous price structures. Daily chart patterns are a great way of practicing patience haha. Trade safe out there! The Vortex Trader
Long
by TheVortexTrader
LBS / Lumber Futures potential long trade incomingMy chart idea illustrates a confluence of fundamental and technical analysis which leads me to believe a long trade in the Lumber futures market may getting close. On the fundamental side: - We have seen Commercial buyers become net long for a whole month, last time this happened was mid 2020 and this then led to a ~130% price rise over 2 months when the price went from roughly $350 up to $820, albeit it was a bumpy ride with numerous gaps up and down along the way. This recent commercial buying activity is shown with the blue above the zero line in the COT report indicator. On the technical side: - There is clear bullish divergence on the daily chart between price and the RSI. Key technical levels to watch: - Volume profile going back almost 1yr (as much as I could fit onto daily chart) shows the biggest volume cluster / Point of Control sits around $620, so price needs to break above this and hold the level to confirm break of down trend. - Coincidently the above mentioned level measures up almost precisely ($618) with a Fibonacci level when using the recent double top as anchor points. - When drawing a simple trend resistance line from the recent high in march and down to current price then you can see that this trend has not been broken yet, however the line recently intersected $620 level. If price breaks the trend then the $620 level shouldn't be far off. - Lastly on the weekly chart price is just touching oversold levels in the RSI. Historically Lumber hasn't prolonged periods at this level, it typically touches or breaks the level and reverses back within a few weeks. In summary it looks like ~$620 is a key level that needs to be broken above and if it can hold that level until weeks end then I'd be looking to position a long entry. The Lumber futures market does offer big reward when it moves however it is very illiquid with tendency to price gap once it starts trending so caution needs to be exercised!
LLong
by gary_trades