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Dragonflydoji

SWING IDEA - MAPMYINDIA (C.E. INFO SYSTEMS)MapmyIndia (CE Info Systems) presents a compelling prospect for swing traders. Combining innovative technology with mapping solutions, MapmyIndia has established itself as a leader in the navigation and location-based services industry. Reasons are listed below : The 1600-1700 range, once a challenging barrier, has now transformed into a strong support level. A Dragonfly Doji on the weekly timeframe hints at a possible reversal, underlining changing market dynamics. The presence of a Bullish Marubozu candle on the daily chart signals sustained upward momentum, offering clear direction. Supported by the 0.5 Fibonacci retracement level and the 50-period Exponential Moving Average (EMA) on the weekly chart, indicating a robust technical setup. Stock has been consistently making higher highs, reflecting a trend of increasing bullish momentum. A notable increase in trading volumes validates growing market interest, strengthening the bullish case. Target - 2042 // 2250 Stoploss - weekly close below 1600 DISCLAIMER - Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services. @visionary.growth.insights
NSE:MAPMYINDIALong
by Visionary_Growth_Insights
SWING IDEA - CYIENTA potential swing trade opportunity in Cyient , a leading global engineering solutions provider, renowned for its innovative approaches and commitment to sustainability. Reasons are listed below : The stock is currently retesting the significant resistance level of 1800, which historically served as a strong barrier. This retest could indicate a potential breakout. A dragonfly doji candlestick pattern has formed on the weekly timeframe, suggesting a potential reversal from bearish to bullish sentiment. Cyient found support at the 0.382 Fibonacci level, providing additional confirmation of a potential reversal. The stock has been consistently forming higher highs, indicating an upward trend in price action. Target - 2366 // 2860 Stoploss - weekly close below 1800 DISCLAIMER - Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services. @visionary.growth.insights
NSE:CYIENTLong
by Visionary_Growth_Insights
NIFTY DAILY - 12/3/2024Market opens at Yesterday’s closing price. Nifty formed Dragonfly Doji on daily chart with long lower and long upper shadows, which indicates thug of war between buyers and sellers which shows indecisiveness among them. Candle is formed exactly on 9 days Exponential Moving Average line. Further levels for nifty will be 22272 level will work as support and resistance will be 22381 level. Today’s Advance Decline ratio of NIFTY50 Advance - 13 Decline - 37 FII Buy + 73.12 crore DII Buy +2358.18 crore. ⚠️ Important: Always maintain your Risk & Reward Ratio. ✅Like and follow to never miss a new idea!✅ Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes. Eat🍜 Sleep😴 TradingView📈 Repeat 🔁 Happy learning with trading. Cheers!🥂
NSE:NIFTY
by radha_23
Japanese Candlesticks - Doji CandlesAs traders, if we want to improve our technical analysis knowledge to better develop our price action skills, we owe it to ourselves to grasp candlestick patterns, in this case the Doji candlestick pattern. This post will go into further detail about this unique candlestick group and will also explain the psychology behind these patterns and how they can affect future price movements in the market. Before we go into further detail about doji candles, there are times this post will mention the words: 'OPEN PRICE, 'CLOSE PRICE, 'HIGH PRICE, 'LOW PRICE, 'UPPER WICK, 'LOWER WICK, and 'BODY.' So what are these? OPEN PRICE: Open means a candlestick's first price when it started. CLOSE PRICE: Close means a candlestick's last price when it ended. HIGH PRICE: High means how high the price went during that candlestick. LOW PRICE: Low means how low the price went during that candlestick. UPPER WICK: An upper wick forms when the high price of the candlestick is higher than the close price (bull candle) or open price (bear candle) of the period. LOWER WICK: A lower wick forms when the low of the candlestick is lower than the close price (bear candle) or open price (bull candle) of the period. Body: The visual difference between the candlestick's open and close prices. What is a Doji candlestick? The Doji Japanese candlestick pattern is a class of single-bar indecision patterns whose open and close prices are either identical or close to identical and therefore either do not have bodies or have very small bodies. A doji candlestick pattern generally suggests indecision or uncertainty in the markets. The reason for this is because of the psychological meaning behind a doji candle. As previously mentioned, all doji candles' open and close prices are either identical or close to identical, meaning that during the time of the candle's formation, buyers (bulls) and sellers (bears) were both at a complete standoff and neither one came out on top. There are different types of doji patterns depending on where the open and close prices are, and these types are known as: doji star, gravestone doji, dragonfly doji, long-legged doji, and four-price doji. Technical traders use the 'doji' term to refer to all of the above patterns but specifically call out a doji by its proper name when they want to be more specific, e.g., a dragonfly doji. Doji Star The doji star (also known as 'standard doji' or 'neutral doji') is a pattern that is composed of an upper and lower wick on either side of the opening and closing price that are approximately the same length. The doji star’s main features are: Identical or close to identical opening and closing prices. The upper wick and lower wick are approximately the same length. Overall, it has a cross shape. It indicates indecision: the market hesitates between two directions. When a doji star appears at the top of a bullish swing or at the bottom of a bearish swing, this is seen as a sign that there may be a possible change in the trend. The reason for this is due to the neutral formation of the candle and what it means psychologically: this candle pattern tells us that buyers and sellers were completely equal; it is not possible at this moment to judge which side of the market has the upper hand, so if a doji star appears near the top or bottom of a trend swing, then it is possible that there may be hesitation or uncertainty to continue the trend. Gravestone Doji  The gravestone doji pattern is formed by a candle that has only the upper wick. This indicates that the price tried to move higher but failed to do so and closed at a price identical to or close to identical to both the open and low prices. The gravestone doji’s main features are: A long upper wick. No lower wick Open and close prices are identical or close to identical to the low price. Overall, the pattern has an inverted 'T' shape. This pattern is most significant at the top of a bullish swing. It indicates indecision; this has a more bearish bias because of the upside rejection of the high price from the sellers. The psychology behind the gravestone doji usually indicates that the buyers might be losing power because they can no longer drive the price up and the sellers might be in control. When a gravestone doji pattern appears, especially at the top of a bullish swing, this is seen as a positive sign that there may be a possible change in the trend. Dragonfly Doji The dragonfly doji pattern is formed by a candle that has only the lower wick. This indicates that the price tried to move lower but failed to do so and closed at a price identical to or close to identical to both the open and high prices. The dragonfly doji’s main features are: A long lower wick. No upper wick. Open and close prices are identical or close to identical to the high price. Overall, the pattern has a 'T' shape. This pattern is most significant at the bottom of a bearish swing. It indicates indecision; this has a more bullish bias because of the downside rejection of the low price from the buyers. The psychology behind the dragonfly doji usually indicates that the sellers might be losing power because they can no longer drive the price down, and the buyers might be in control. When a dragonfly doji pattern appears, especially at the bottom of a bearish swing, this is seen as a positive sign that there may be a possible change in the trend. Long-legged Doji The long-legged doji pattern is just like the doji star, but with a longer upper and lower wick on either side of the opening and closing price. This pattern suggests not only market uncertainty but also more market volatility due to the longer wicks on either side. The long-legged doji's main features are: Identical or close to identical to the open and close prices. The long upper wick and the long lower wick are approximately the same length. Overall, it has a cross shape. It indicates indecision and higher volatility; the market hesitates between two directions. Four-Price Doji The four-price doji pattern (also called 'doji of four prices') is the rarest doji pattern type; it is extremely rare on the chart, especially on the higher time frame charts. It represents a straight horizontal line (only the body, without any upper and lower wicks). The pattern is formed when all four prices are the same: open, high, low, and close. The four-price doji's main features are: Completely flat horizontal body with no upper or lower wick. Overall, it has a 'dash' shape. Open, high, low, and close prices are all identical. As rare as this doji pattern is, it does form from time to time. This happens either on very low-liquid assets or when volumes severely drop on the market, for example, during holidays or near the start or close of a trading session. Be careful with short time frames! Doji candles appear far too often in shorter timeframes; traders on short-term timeframes do not generally take them as serious signals for predicting future price movements. Doji candles on shorter time frames are not as psychologically impactful as doji candles that form on longer-term charts. A big reason for this is due to the fact that it is a lot easier for a doji candle to develop in a shorter time frame than in a longer one. For example, it is far easier for a one-minute candle to have an identical or close to identical open and close price than it is for a daily candle to have an identical or close to identical open and close price. Additionally, short-term timeframes feature a lot of price noise, which can be confusing for traders. EURUSD 1 Minute Chart As you can see in the image above, doji candles appear too many times in the shorter time frames to be effective. Advantages and Disadvantages With all technical analysis methods in the financial markets, there are advantages and disadvantages to them, and doji candle patterns are no different. The advantages and disadvantages of doji candle patterns are: Technical traders use Japanese candlestick patterns to help understand and predict future price movements. Doji candles can be very effective in doing this, and traders should pay attention to them when they form on their charts as they can provide potential trading opportunities. However, due to their limitations, traders should use additional technical analysis methods alongside any doji pattern to predict future price movements. Doji candles are indecision candles and therefore do not guarantee trend reversals, but make sure you are cautious of them, observe them, and, most importantly, learn from them! Trade safely and responsibly. BluetonaFX
Education
by BluetonaFX
2
FrogAlgo: A Dragonfly Doji A Dragonfly Doji is a candlestick pattern characterized by a long wick or shadow that is significantly longer than its body. It is considered a type of doji, where the opening and closing prices are very close together. The presence of a large wick indicates a wide trading range during the time period of the candle, while the small body represents minimal difference between the opening and closing prices. This pattern occurs when the open, close, and high prices of the candle are close or even identical, but the intraday trading extends far from the opening price before retracing back to close near its initial level or close to the high of the day. If a Dragonfly Doji appears during an oversold downtrend, it can signal a potential reversal in the prevailing downward price movement. The extended lower wick indicates selling pressure during the candle's duration, but the price sharply reverses and closes near the opening price, suggesting that buyers have entered the market at lower prices and pushed the price back up. This pattern signifies a significant reversal on the chart during a downtrend, indicating that the subsequent price movement could be upwards. It indicates that lower prices were rejected and absorbed, implying a shift in momentum towards an upward swing. The Dragonfly Doji is considered a crucial indicator of trend reversal. Its reliability increases when accompanied by high trading volume. When a chart has been in a downtrend, drops to a new price low that is lower than the lows of the previous three trading days, but fails to sustain that low and rallies to close within the upper 10% of the day's trading range, there is a higher probability that the price has bottomed out, and the chart has initiated a new upward movement.
NASDAQ:AAPL
by A1TradingHub
SPX: Bullish Rejection Structure.• The SPX is doing a bearish reversal structure, as it lost our two main support levels: The 21 ema and the 4,060; • Last Friday it tried to react, as it did a Dragonfly Doji, just above the 21 ema – However, today’s reaction rejects this bullish attempt completely; • Now it seems the SPX is seeking the next support, at 4,015; • Since the index lost the 21 ema, and it did a lower high/low, the mid-term bias is bearish again. Only a very good bullish pattern, followed by a bullish reversal structure would put an end to this bearish sentiment; • So far, there’s no such sign, but let’s keep our eyes open around the 4,015 area. I’ll keep you updated on this. Remember to follow me to keep in touch with my daily analyses!
SP:SPX
by Nathan_The_Finance_Hydra
2
Dragonfly Target Price: Drop & PopCould get another 100 pips to downside just looking at the TL. Notice how the long wicks in prior lows form an 'ultimate tl' and after close 5/11 how price rests on the red centerline of pitchfork. NOT sayin it will go there, just watch and wait to see if it does, would hate to get caught long and get mauled, eh? IF it crushes down to target price 3842 will probably make a huge pivot reversal and long wick. Could pop 100 pips in a few hours then from deep oversold on indicators. One position atm: Single SPY weekly 400c. GLTA! Longer term target: ~3450-3550, will probly give a strong bounce first imo.
TVC:SPXLong
by DaddySawbucks
8
$DWAC - Trump Social Media is DoomedUPDATE 3/5/2022: DAILY DRAGONFLY DOJI The hits keep on coming for Donald Trump's signature social media application "Truth Social". According to The Daily Beast , "In recent weeks, sources have heard the former president on the phone swearing gratuitously and asking things like, “What the fuck is going on” with Truth Social. He’s repeatedly groused about the negative press and the less-than-stellar optics of the rollout, these sources said. And he’s demanded to know why more people aren’t using it—why the app isn’t swiftly dominating the competition." Dan Primack of Axios wrote a piece a few days back, "Trump's Truth Social bomb" . This rollout has been a disaster. Most people are still on the waiting list to join. Trump has barely posted. The app is full of bugs. It's stopped to 37th on the Apple Store as of yesterday. Primack wrote, "Trump hasn't posted a single time since the launch, despite an international crisis that has captivated the country. Instead, he's given his comments to radio and TV hosts — including one this morning with Dominion conspiracy theorist Maria Bartiromo — plus via his CPAC speech". Back to the Daily Beast article released earlier today. There have been some indications through actual concrete analysis that the application is an overall failure. "But if the preliminary traffic numbers are of any indication, the former president and current wannabe social-media mogul has a point. The Daily Beast reviewed analyses of visits to Truth Social’s performed by SimilarWeb, which tracks website traffic from public and private sources. The company’s figures for the MAGA social network—while only an estimate based on incomplete data—are nonetheless anemic. Trump’s own social media platform is doing either worse or the same as other MAGA social sites like Gab—another pro-Trump competitor website that’s especially beloved by, well, Nazis—and Gettr, a platform fronted by one of Trump’s former top political aides, Jason Miller. SimilarWeb’s estimates show a sharp spike of around 2 million daily visits to the site when it first debuted, before traffic dipped to an average of approximately 300,000 visits each day, putting the site on par with Gettr. Meanwhile, the far-right Gab has averaged around 650,000 daily average visits in the same time period. As of Friday, Truth Social was the 72nd most popular free app in Apple’s AppStore, a far cry from Facebook (5th) and his formerly beloved Twitter (22), both of which booted the ex-president after the Jan. 6 Capitol riot. The relatively light traffic could be explained in part by Truth Social’s waitlist—MAGA fans who want to join the platform have now racked up a million-strong backlog of users looking to join during the app’s soft launch. The app is also only available on Apple devices, denying access to owners of Android phones. The extreme-right Gab, however, has managed to rack up twice the web traffic as Truth Social, despite its mobile apps being banned from both Apple and Google’s app stores." This is all adding up to disaster here for the Trump Media SPAC. What is the plan here? According to Seeking Alpha , "At a current market cap of over $15 billion as a pre-revenue company". They go on to add, "Thirty days post-merger, this total is expected to increase to over 170 million shares, excluding warrants." This wasn't the only piece of bad coverage the new app received since my last update. Politico's Ruby Cramer penned an article titled, "The Emptiness Inside Donald Trump’s New Social Media Platform". "The site promises a safe space for “free expression,” encouraging of “all viewpoints,” according to the welcome email, “as we do not discriminate against political ideology.” But inside the app, digital tumbleweeds blew through my feed. The site is a bit slow, and a bit empty. Its stalled roll-out, led by Devin Nunes, the Trump supporter and former Republican congressman from California, has become a source of frustration and confusion in MAGA-world, according to my colleague Meridith McGraw. Republican lawmakers like Marjorie Taylor Greene and Matt Gaetz and Kevin McCarthy already have accounts and appear to be posting similar or identical content to both Truth Social and Twitter, along with right-leaning platforms like Gettr and Parler. (Apparently, no one is quite ready to turn their backs on an actual audience yet.) But when they do finally get their welcome emails, the thousands of regular Trump fans still waiting in line, eager for their chance to search for truth, will find a Twitter knock-off with no immediately discernible improvement on the original — a vanity project that has yet to prove its utility." So we have a failed rollout with bugs, Trump barely posting, and share dilution coming to boot. I haven't even mentioned the biggest wildcard. Trump's legal woes. Last night, news broke that Trump could be facing criminal charges if the Attorney General wishes to proceed: "Jan. 6 Committee Lays Out Potential Criminal Charges Against Trump". In a court filing, the panel said there was enough evidence to suggest that the former president might have engaged in a criminal conspiracy as he fought to remain in office. So 1. Dilution 2. Sell the News with Planned Q1 Merger 3. Failed and Buggy Rollout 4. Potential Criminal Charges. 5. Data shows the app rollout is an absolute failure. This is stock is heading down back to the single digits. Short this play next week before you regret missing out. There is no legitimate bull thesis for $DWAC- no matter where your politics stand.
DShort
by jaykenneyTRT
22
BAT AnalysisYesterday, BAT found strong support near $0.58. It bounced very quick in the same day and closed at its open price, formed a dragonfly doji candlestick. That’s an optimistic sign at least in the short term, because it seems that large traders entered the market. Low volume (locally higher buy volume). Maybe the last weak hands are eventually out of the market. The first bullish sign of strength came today, with a full green candle. Conservative traders may wait the bearish trendline breakout, before placing their bids. Aggressive traders may buy at the current price or wait a correction (if occur) at the trendline resistance. The next crucial resistance is near $1.00 – psychological resistance. If nothing happened in the world like a new war, we will see a new high in the next weeks or months. Trading is a probability game. There is no perfection in that. Market is unpredictable. Stay to your plan. Do not panic sell.
KRAKEN:BATUSDLong
by Rhaonnor
2
BTC Weekly Timeframe Analysis Chart - BTC on the weekly timeframe. Weekly is not the strongest macro timeframe. Sometimes proves false signals. Dragonfly / Gravestone Doji - Highlighted in the green are the dragon fly doji's (recent signal doesn't close until Sunday) - Highlighted in the red are the gravestone doji's - Arguably the strongest significant Japanese Candle Stick for trend reversals. Link: www.fxdayjob.com RSI: - Decreasing RSI + Increase in Price = Hidden Bullish Divergence - Increasing RSI + Decrease in Price = Hidden Bearish Divergence - Note that in summer of 2021 we had the same confluence in the chart. MacD: - Classic bullish divergence on the weekly. - Note that bigger timeframes (Monthly, 2 week) are bearish. Moving Averages: - 50 Day $47,000 - 200 Day $20,000 Analysis: - This is a high-risk trade b/c of current events. - Fed is set to have a meeting regarding equities in March. (Likely to be very negative) - I predict a further continuation rally here. May not bring us to ATH but, a recovery rally. - Most importantly, do your own research. Strive to be a better trader every day.
COINBASE:BTCUSDLong
by AthenticWhale1
BULLS GET READY! BTC Primed for a RALLY!!!!!!Bitcoin has been lately testing the waters and Bitcoin made huge moves in downward direction that changed market sentiment from Bullish to bearish for Crypto. MAJORITY are expecting a Drop to 30k. And that is what doesn't happen very often. After what BTC did today, BTC has printed so many GREAT BULLISH SIGNS that i am pretty Confident that BTC has BOTTOMED OUT for Short to MID TERM and is looking to rally hard from this 40k ZONE. But, What Exactly did BTC DID TODAY ? 1) BTC just Printed a DRAGONFLY DOJI Candlestick on DAILY Timeframe with HUGE VOLUME on Support Zone:- 2) BTC forming a beautiful falling wedge :- 3) Bouncing from Support Zone :- 4) BTC Making a DOUBLE BOTTOM with a massive bullish divergence :- 5) Monthly Timeframe Strong Bullish Divergence on BTC :- Overall, Market Overreacted to Changes introduced by FED. Thus BTC Dumped on Sudden fear of increase in interest rates or increase in 10 Year Bond Yields but i do believe FED wouldn't want to crash the market. Thus, for precaution sake, INVALIDATION point for this POST is $39570: and My Target for BTC are for SHORT to MID Term :- This is not a financial advice. This is just an educational idea and my own view and my own reasons due to which i have opened long positions from here for SHORT Term. One more reason, i have gone long on BTC now is that It is a very low risk to Go long with Small Positions right now due to which i am willing to do so. Enjoy everyone, and Trade Safely.
COINBASE:BTCUSDLong
by StunnerStock
240
PYPL bullish Signal: Dragonfly Doji + CCI DivergencePYPL is currently on a downtrend, but there are multiple signs that the current trend might reverse. Price is falling while the Commodity Channel Index is rising - this is a very obvious divergence ... and an indication of a potential trend reversal. Taking a closer look at CCI and Price, we also see hidden divergence a couple of days ago (lower lows vs higher lows). During the latest divergence, we spot an interesting candle chart pattern: a Doji. Dojis are usually indicating indecision - in this case the long-legged Doji almost looks like a Dragonfly Doji. In combination with a divergence, this can be seen as a rejection of lower prices and as a bullish signal. The current monthly Pivot has not yet been touched, so the price might rise to this Pivot point at 245.97 . Interestingly, a few days ago, on October 12th, we had an almost identical setup: (minor) downtrend, bullish divergence, Doji, untouched pivot. The candle following the Doji was still red but the price went up to the monthly pivot.
NASDAQ:PYPLLong
by TradingClue
2
Ethereum ascending triangle breakout new ATH incomingAfter the initial sell off after reaching a new all time high there has been strong support around the $4000 price point which is where the 20 day moving average is present, strong evidence is shown by the dragonfly doji candles at the bottom of the triangle presenting large buying pressure. Strong resistance is highlighted in the red box, if buyers remain strong the expected price target will be $4500. The RSI still has lots of upwards space before Ethereum enters into an overbought state which is an indicator a sell off could be imminent. Currently we will either continue to test the bottom of the triangle again or breakout upwards. MACD indicator positive crossover.
BYBIT:ETHUSD.PLong
by Rogez
1
TSLA: It just did what was expected. What to expect now?Hello traders and investors! Let’s see how TSLA is doing today! Since our previous analysis, last week, it did absolutely nothing surprising, as TSLA just hit our second target/resistance, and we already discussed a scenario where it would do a pullback in the daily chart: “Even if it does a pullback, it won’t ruin the bullish bias. We have too many supports to hold TSLA if it drops, like the $ 732, the $ 717, the 21 ema , and even the purple trendline.” The link to my previous analysis is below this post, as always. Today, the 21 ema is holding the price, and so far, we are trading above it, which is good news. What's more, we have a Dragonfly Doji in the daily chart. If we look into the 1h chart, we’ll find more clues: Yes, TSLA did a classic Exhaustion Bar , slightly below the previous support at $ 724, and it confirmed a false breakout when it reacted above this support level. The volume spiked as well, and now TSLA is prepared to do a real good bullish structure. So far, we only have good signs, but nothing concrete about a bullish reversal. Let’s wait for more information in the next few days. If you liked this post, remember to follow me to keep in touch with my daily updates, and please, support this idea if it helped. Have a good week!
NASDAQ:TSLA
by Nathan_The_Finance_Hydra
4
PLTR: Time to panic? Keep these key points in mind.Hello traders and investors! Let’s see how PLTR is doing today! In my last analysis (Feb 02, link below) I presented some reasons why we shouldn’t panic during the massive drop from the $ 44 to the $ 31. Now PLTR is around $ 36 again, trying to resume the bull trend. First thing to keep in mind: It has a solid support level at the $ 34.04 (is the gap area), and the purple trendline, which worked as a support at least 3 times in the past. So, this is a Dual-Support level . We may see PLTR at these levels if it loses the 21 ema in the hourly chart, something that won’t be easy, given we have a Dragonfly Doji closing above it now. The 21 ema worked very well for us here, as the price rested above it for 3 days before starting going up again, giving plenty of time for those who were interested in it to buy at a very safe and good price level. The volume increased again when it started the bullish movement, indicating that there is true buy force here, but with the market showing some weakness, probably PLTR will suffer a little bit as well. It could do a pullback to the 21 ema again, and this wouldn’t ruin the bull trend. The 21 ema in the daily is getting closer to the Dual-support level mentioned in the hourly chart above, so, the price level around $ 32 - $ 33 is an interesting key point to keep in mind. Also, PLTR is about to report Earnings next week, so we must watch out, as this surely will bring some volatility. We’ll keep studying PLTR, therefore, remember to follow me to keep in touch with my future updates. The link to some of my previous analyses are below, and please, support this idea if it helped you! Thank you very much.
P
by Nathan_The_Finance_Hydra
4
SPX: New record high? Some scenarios to work with!Hello traders and investors! The SPX did a new record high today, which is amazing. Let’s see what’s going on here. The index is still trapped inside the congestion we mentioned yesterday, between the green line at 3861 and the black line at 3827, and as long as we don’t see a real breakout from any of these points, the index will continue moving sideways . If you missed my previous analysis, just check the link below. On the bright side, we are trading above the 21 ema, which is still pointing up, so the bias is slightly more bullish than bearish . If the index defeats the green line again, probably it’ll resume the trend. Let’s see if the daily chart now: Yesterday’s reaction was very impressive, indeed. We have a powerful Hammer candlestick pattern, that is almost a Dragonfly Doji, which was triggered today. The volume was quite high as well, so the SPX is quite strong at the moment. The trend is clearly bullish, and we have no clear reversal or pullback signs around . As long the index keeps trading this way, the trend will persist, according to the 6th tenet of the Dow Theory . But if the index loses the 3827, we may see some pullback ahead, and the 21 ema would be the next stop. For now, let’s see if the index will break the 3861, as this is the most challenging point for the index right now , and if it defeats this point, it’ll fly to new levels. If you liked this analysis, remember to follow me to keep in touch with my daily studies, and please, support this idea ! You’ll find some of my previous analyses below. Thank you very much!
SP:SPX
by Nathan_The_Finance_Hydra
10
AUDNZD Long Trade SETUPLast week Price Action (PA) had broken above its 4HR Trend Line to reach the highs of 1.08963 before pulling back/reversing - whichever it may be - with the Andrews Pitchfork (APF) placed on the previous Pull back. Price has now test the middle APF line and closed with a strong rejection bar (Dragonfly Doji). I'm expecting price to continue its's move up to potentially test and break its Trend Line. I'm LONG! Possible entries on the lower TF pull backs may still be viable. Watch and Wait Bear Trader.
Long
by TraderChes