Critical Resistance Reached, Trend Change or Short Play? INFAHi guys! This is a Technical Analysis on this relatively new company Informatica, Inc. (INFA). But the focus is not the company but rather on finding these specific trends in price action.
This analysis is done on the 1 Week timeframe.
Main takeaway is that its powerful to be able to identify when Price action reaches a Major Resistance or Support level. It can make for taking short or long positions.
Notice how INFA is in this Downward Channel.
We've had some touch points on the Support trendline in black.
With every touch, we've had Uptrends.
With our most recent touch of Support, we've had an Uptrend that brought us to our Resistance trendline in RED.
Note, this recent uptrend has created a Higher high from a previous lower higher. Good sign for trend change attempt.
We have also printed our 1st Golden Cross between the 21 EMA(Purple) and the 50 SMA (Green).
This is a powerful bullish sign, even more so that it has happened on the 1 Week. This can provide necessary momentum to break out.
Our current Price action is in a crucial zone. We are attempting to breakout of this Major Resistance trendline.
If we can break through and CONFIRM, it may indicate a Trend Change.
However, do note that this is our 2nd time directly touching this trendline. Trendline theory states it requires atleast 3 touches for that trendline to break. This being a powerful Resistance area, It is important to also look for signs of Rejection.
One sign currently is the presence of Upper Wicks of candles. This shows sell pressure off this trendline.
A Clear sign of rejection would then make this area a solid spot to take short positions.
Target being the Support line below us which coincides with the previous Lower Higher or the 21 EMA.
Now going back to if we can breakout ABOVE the Major Resistance Red Line and Confirm. Our target would be the Horizontal Resistance line Above us.
In my opinion if we can break through the horizontal resistance line. Reaching all time highs becomes very likely. As we dont have much Market Structure above.
One sign to assess if we breakout is VOLUME to increase or spike. That would show signs of increased liquidity which is what we need when trying to trend change. If we breakout with Low Volume, it may lead to a FAKEOUT.
If we reach ABOVE Major Resistance and CONFIRM, this would make for an area for Long positions especially Longer Term Positions/ Investment. This would also signify a Trend Change.
Look to the 1 Day for further signs of whats to come. I will be sure to update as well.
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Thank you for taking the time to read my analysis. Hope it helped keep you informed. Please do support my ideas by boosting, following me and commenting. Thanks again.
Stay tuned for more updates on INFA in the near future.
If you have any questions, do reach out. Thank you again.
DISCLAIMER: This is not financial advice, i am not a financial advisor. The thoughts expressed in the posts are my opinion and for educational purposes. Do not use my ideas for the basis of your trading strategy, make sure to work out your own strategy and when trading always spend majority of your time on risk management strategy.
Downwardtrend
BNBUSDT up-to-date potential expanded ending diagonalPotential expanded ending diagonal scenario for this asset. Price action is likely heading downward to made an interesting and profitable 3th wave of the expected bearish impulse wave 3 of that triangle / megaphone hypothetical scene. Key levels for watching on that 30m chart, plus Chaikin Money Flow divergences. Bear flag breakdown expected for soon on 4h chart - linked below.
BTCUSD - Downward Trend ContinuesIn May 2022, the major structure at 29K was broken and a 1 month trading range formed at the support level until it was finally broken to the downside.
By measuring the distance from the all-time high (ATH) to 29K and applying it to the downwards target, we can calculate a potential target of around 12K.
Using the Fibonacci retracement tool from the start of the bull market to the end of it also gives us a target of $11651 (Fib. 0.618), which aligns with the previous calculation.
Currently, we have lost the ATH from 2017 at around 20K as support and are trading at $16600.
The next interesting area to watch for is the ATH from 2019 at $13870.
Given the current global circumstances, it is likely that the bear market will continue in 2023, providing ample time for DCA.
$NIO Pending Reversal On Down Trend?In the chart I have provided an analysis on the following points:
1. Confirmed Supply & Demand Pockets (Total of 2).
2. If side movement continues past February 28th chart would be invalidated.
3. Break above $20 would confirm break of downward trend & place us in supply territory for Fibonacci.
APHA- Ready to attack the weekly downward trendAPHA is volatile, but I like its long-term prospect and its current technical setup.
I believe APHA has a good chance of breaking through its long-term downward trend.
For the more conservative play, buy on the retest after the supply zone becomes the demand zone.
Just my two cents. Not the investment advice.
BTC- No match for the long-term resistance zoneThere is no sign of waning selling pressure yet and lower high/lower low structure has been established.
Bounce back is weak after the selloff.
Mostly likely scenario is for the price to come back down to the demand zone first.
Then, we go through a period of consolidation before the price takes off again.
Another Short Term Update On Our Total Market CapUpdate:
changed my lines around a bit and through in a schiff pitchfork for reference to levels.
Looks like we are going to be consolidating at this price range for the next ~3 days.
What does this mean for Bitcoin and the ALT coins you may ask?
We most likely will see a rebuild up of Bitcoins markets cap putting its price back up t ~8,800-9,200.
If Bitcoins prices breaks the 9,200 resistance level, we may see more movement up here, followed by a recovery in the market.
Butttt... the market seems to very weak right now with large amount of wash trading going on ("Wash Trading" = Creating fake volume on the market to show strength where there truly is only weakness).
I expect more Dumping from BTC on Monday the 29th, if and when the total market cap doesn't recover to ~245-260 Total market cap.
(Which is highly unlikely, not impossible though)
First target for dump 7,100-7,300 (Reversal at 7,300/ continued dump at 7,100)
Second target 6,300-6,600 (Reversal at 6,600/ continued dump at 6,300)
"Second target may not hit until ~5-7th of October"
ALTs?...
Most likely are going to see a continued dump until Bitcoin holds/ finds a reversal.
(May still bleed in this scenario do to everyone FOMO buying btc).
or find an increase if Bitcoin dumps while simultaneously we see more total capital is hitting the market (Strong sign of a reversal coming in my mind at least).
Minor ALTS under the 400 ranking may find pumps during this process, but those are just high risk gambles in my mind.
(These are the true Shit coins on the market and will most likely die off after a recovery happens).
xau/eur bearish set upon the weekly chart, I see potential resistance zone marked out which has been tested several times so I am hoping price will be influenced by sellers hopefully and that selling pressure will be emitted due to psychological levels. Also this is in confluence with the downward trendline as well so I am hoping price reacts to that.
This is a position trade as well so this will take some time before price actually reaches take profit so patience is required.
Traders looking into this should go down on lower timeframes to check for entries/patterns to determine where to place trade.
DXY 4HR Technical Analysis by TraderNicoDXY in a clearly visible uptrend currently approaching the top of the channel. Price most recently has retested a support zone in which price has respected so we are expecting to retest tops - potentially forming a double top before opening the doors to selling pressure in which we could retest the support zone once again and also test channel support.
NZDUSD -- Daily BreakdownNZDUSD Daily Breakdown
NZDUSD remains in this downward channel, creating lower highs and lower lows, we can expect furthder downside continuation if price breaks and closes below the 61.8% fib level.
Overall longer-term bias -- Bearish
Follow for more updates on this pair going into the week ahead.
Happy Trading!