DKS eyes on $212 for KEY support: break could end Bull RunRetail stocks have been flying to record highs.
DKS is retesting a Major zone as possible support.
Strong bull bounces here, or we risk much deeper.
$ 212.03 - 210.66 is the strongest support for some distance.
$ 238.70 - 242.55 is the nearest significant resistance above.
$ 132.21 - 135.32 is next major support with minors between.
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Fibo
Mastering Fibonacci ChannelsFibonacci Channel: A Tool for Identifying Potential Trend Levels
The Fibonacci Channel is a powerful technical analysis tool that advanced traders use to identify potential support and resistance levels within a trend. This tool is particularly useful in trending markets, such as Forex and equities, to gauge price movement and pinpoint strategic entry and exit points.
The Fibonacci Channel consists of a series of parallel lines plotted using Fibonacci ratios (such as 0.382, 0.5, 0.618, etc.). These lines help traders mark key areas within a price trend that could indicate a potential reversal or continuation.
How to Use the Fibonacci Channel
1. Identify Start and End Points: Begin by identifying the start and end points of a trend that you want to analyze.
2. Draw the Channel Lines: Next, draw a trendline between the two points. The Fibonacci levels are then plotted as parallel lines above and below this trendline, helping traders visualize potential levels for price to reach or retrace.
3. Interpret the Lines: The plotted Fibonacci levels act as potential areas of support and resistance, providing traders with strategic points for entry or exit. For example, price movement reaching the 0.618 level often suggests a high probability of either reversal or trend continuation.
Using the Fibonacci Channel allows you to take advantage of market psychology embedded in these ratios, helping you make more informed decisions in a trend-driven market.
Bitcoin Buy Opportunity After Strong Confirmation Signal!We are watching for an excellent buy opportunity on Bitcoin! If the daily candle closes above the green rectangle, this will be a clear signal to enter a buy trade. The stop loss will be placed below the red rectangle, with take profit set at the blue rectangle.
Stay tuned for more updates, and if you need a personalized analysis on any financial asset, feel free to contact me in private!
FILUSDT → Weakness in altcoins will manifest itself in decliningBINANCE:FILUSDT after a false breakdown of the 3.800 range resistance is giving signs towards the continuation of the decline. The coin is in a global and local downtrend and there are no reasons to change direction. The focus is on the support of 3.688.
Altcoins are extremely weak on the back of bitcoin's strong rally. The dominance of the flagship is currently at record highs, and the altcoin season has not arrived and apparently will not come anytime soon.
Bitcoin is testing strong resistance zones and cannot grow all the time. Any short-term reaction can affect the entire cryptocurrency market, which will color the coins in the red.
Support levels: 3.688
Resistance levels: 3.800
Technically, relative to 3.688 a descending triangle is forming after a false breakdown of the range resistance. It is a rather strong conglomerate.
Breakout of 3.688 and price consolidation below this area will provoke further selling and price decline to 3.4 - 3.3
Rate, share your opinion and questions, let's discuss what's going on with ★ BINANCE:FILUSDT ;)
Regards R. Linda!
URI heads up at $675: major fib confluence, possible local topURI heads up at $675: major fib confluence, possible local top.
The exact zone defined by the fib confluence is 671.30 - 677.71
Look for a pullback there, or a break and retest for continuation.
Will post updates as price action hits key levels.
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OSK heads up at $125.52: long term Double Top? or break to Pop?OSK just hit a double-fib at 125.42/52.
Both are Golden ratios (.618 multiples).
Could double top here or break and run.
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"Double Top" as in the previous rejection exactly from this double fib:
Perhaps not exactly a double top since it had gone higher, but a major barrier nonetheless.
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If it breaks the $125 fibs, it could run to $143-145 very quickly:
So this is a key level to watch and consider next actions.
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IBM eyes on $163.30 then $158 for possible Bottoms of correctionIBM had the business office monopolized but then lost it.
PC's came and they said "it's a fad, we have TYPEwriters"
AI came and they said "we have Watson, he plays chess"
It has however been in an uptrend with the market.
Retrace is now testing a key support fib at $163.30
If that one fails, we have a fallback fib at $157.99
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TESLA: 4 Hour DOWN TO THE 5 MINUTE MUST WATCH FOR WHATS NEXTMORNING TRADERS
currently this video is an extension of my last Tesla video I did we are are still trying to go to: will be break up and hit our 272 target or will need a bit more correcting to do before we can try our hands at the long trades.
I break this video down for you to give you the best insight into the best levels to look for if you trying to trade Tesla and why
Enjoy
MB Trader
Happy Trading
QQQ Dancing on a High Wire $422.93: Golden Genesis fib and top?=QQQ is dancing on a high wire, a Golden Genesis fib at $422.93
Failure here could indicate top is in, so this is a key level here.
Just below is a fib confluence at $418, last stop before SERIOUS dip.
It is PROBABLE that we orbit this fib for a while.
It is POSSIBLE to bounce here and keep going up.
It is PLAUSIBLE a bull trap / distribution is done.
Here is a snapshot of the Genesis Sequence for the Q's:
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Euro Technical Analysis: EUR/USD Stalls Inside of Yearly HighEUR/USD has put in a very bullish outlay so far in Q3 trade. But last week saw bulls stall inside of the 2024 high and that brings questions to topside continuation in the pair.
EUR/USD continued the advance last week following the rate cut rally following the European Central Bank’s move two weeks ago. There was technical context for bullish continuation as the pair broke through the topside of a bull flag formation but, to date, buyers haven’t been able to push for a re-test of the yearly high at the 1.1200 handle.
There was seemingly an open door for a test of the highs last week as the pair showed three consecutive days of swing highs within 25 pips of that big figure. This week started with pullback but that also shows a bit of indecision as sellers were unable to test below last Thursday’s swing-low.
EUR/USD Bigger Picture
At this point it’s difficult to argue with the intermediate-term outlay in the pair, which has been decisively bullish since the rally began around the Q3 open. The pair was working around the 1.0700 at the time and as USD-weakness, prodded by a sell-off in USD/JPY, continued to drive DXY to fresh lows, EUR/USD continued its upward advance.
But taking a step back, the argument can be made that the pair remains in the confines of a longer-term range and last week’s respect of the 1.1200 handle further speaks to that, as that, itself, is a lower-high from the 2023 swing at 1.1275.
This sets up for an important few weeks as price remains within that shorter-term bullish trend into the Q3 close, with those very obvious resistance levels lurking overhead.
I had written about the US Dollar to finish last week, and if the USD is going to rally, it’s probably going to need some help from EUR/USD bears.
EUR/USD Shorter-Term Strategy
Sellers made a quick push at the start of this week’s trade but as noted above, they haven’t been able to make much of a mark yet. But – this does set up some additional lower-high context as last week’s stall around 1.1175 is inside of the prior high at 1.1200, which is inside of the 2023 high at 1.1275.
The 1.1140 level that I’ve been tracking in webinars is in-play as of this writing and there’s additional context for a possible lower-high up to prior short-term support, around 1.1155. If bears can defend that, the focus is on tests of deeper support. I’m tracking a Fibonacci level at 1.1081 that helped to bring the post-Fed bounce last week, and that’s followed by a swing at 1.1055.
After that is the 1.1000 level and that’s the price that was vigorously defended into and around the ECB’s rate cut.
Bears aren’t necessarily out of the woods on a first test below 1.1000, however, as the 1.09424 Fibonacci level could be a lead-in for bear trap potential on a bigger picture basis. That’s the 50% mark of the same Fibonacci retracement that set the high last year at the 61.8% (1.12697) and the low so far this year around the 38.2% (1.06152).
--- written by James Stanley, Senior Strategist
Why Now is the Time to Go Long on USDJPY: A Trader’s PerspectiveCurrent Fundamentals:
-Diverging monetary policies: The Federal Reserve maintains a hawkish stance, while the Bank of Japan continues its ultra-loose policy.
-Economic growth disparity: The US economy shows resilience, outpacing Japan's growth rate.
-Interest rate differentials: Higher US yields attract capital flows, strengthening the dollar against the yen.
I'm employing probability-based analysis to enter long positions in USD/JPY.
Let's discuss what's going on with USDJPY!
12M:
2W:
1H:
GOLD → Traders consolidate ahead of news...FX:XAUUSD is forming a trading range. The emphasis is on 2531 - 2485. On the background of profit-taking, before the news, the price may test the support before further growth.
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The fundamental environment is the same: tensions in the Middle East and focus on Powell's comments on Wednesday and Friday.
Today it is worth paying attention to the FOMC meeting, which will take place at 18:00 GMT. People are not interested in the rate cut itself, but in hints, comments and statistics.
Technically, the global bullish trend continues, but before the news traders are not ready to take any important actions to continue the trend. On the background of profit-taking or manipulation, the price may come down to liquidity zones before further rise.
Resistance levels: 2510, 2525, 2530
Support levels: 2495, 2488
The focus of his trading strategy is to build a bullish trend, which is still dominating the gold market. But, it is worth paying attention to the news.
Regards R. Linda!
ZEN/USDT Trading ScenarioZEN has been trading within a sideways range for over 630 days, hovering near price lows around the $5.52 mark. During this period, significant volume accumulation has been observed, as confirmed by the volume profile. Additionally, a notable increase in trading volume has occurred during the formation of this range. As the accumulation phase nears its end, with the onset of altcoin season, there is potential for an upward breakout and subsequent strong price growth. In the current price zone, a buying opportunity may be considered, holding the main position until the 0.5 Fibonacci level or higher, with partial profit-taking along the way.
NZDCAD → Consolidation prepares the market for a trend change ↑FX:NZDCAD is breaking the current bearish trend and forming a bullish off-trend pattern. Focusing on the 0.82863 "trigger" resistance, bulls are targeting it to break this area...
Accumulation is forming in relation to the mentioned zone, if the structure will remain, and buyers will continue active attacks towards the "trigger", then in the long term we can look for an entry point for a breakdown.
The market is still restrained by MA-200 & MA-50, but the 200-day line is undergoing a third retest, which generally increases the chances of price consolidation above the key SMA. Globally we have a neutral trend, locally the market sentiment is starting to turn bullish.
The structure will be broken if the price consolidates below 0.82239.
Resistance levels: 0.82863, MA-200
Support levels: 0.82239, MA-50
Fundamentally, the situation in New Zealand is calming down and the market is starting to recover losses. Emphasis on the ascending triangle on H4, it is possible to build short-term and medium-term prospects in relation to this figure
Rate, share your opinion and questions, let's discuss what's going on with ★ NZDCAD ;)
Regards R. Linda!
EURUSD → Consolidation before distribution. Target 1.100FX:EURUSD is forming a wedge, the nature of the pattern is consolidation. FOMC & FED meeting is ahead. The main issue is inflation and interest rate cuts. What should we expect?
100% probability that today the rate will remain unchanged, but Powell at the meeting may signal a Fed rate cut in the coming months amid slowing labor market growth. Eurozone consumer inflation fell from +0.2 to 0% (expected -0.3%) and core CPI rose by 0.1 to +2.9%, suggesting a generally improving environment for a stronger EUR.
Technically, the bulls are trying to hold the area of 1.08. A descending wedge is forming on the chart, another retest, if the fundamental background persists, may lead to a break of resistance. In this case, the market may move into the distribution phase, within which it is able to update the local maximum.
Resistance levels: 1.0852
Support levels: 1.08
Traders are in no hurry to act prematurely and will wait for the Fed and FOMC meeting. Technically everything is favorable to start the growth. Potential target is 1.100
Rate, share your opinion and questions, let's discuss what's going on with ★EURUSD ;)
Regards R. Linda!
BCH → U-Turn and a bullish mood ↑BINANCE:BCHUSDT is trading within the boundaries of the uptrend. Potential is not exhausted. The market is forming a correction to the liquidity zone before a further bullrun to ATH
Bulls are trying to hold the defense above the key support area, which divides the market into two planes. Fundamentally, the situation should be assessed relative to BTC and ETH. In general, everything is quite positive.
Technically, on D1 we should pay attention to the support at 407 - 380. If the bulls hold this area and form consolidation of the price above 407-410, this fact may determine the medium-term potential for the market. A reversal pattern is forming against the lower trend boundary, indicating a bullish market sentiment. The market potential is 460 - 530.
Resistance levels: 420, 460
Support levels: 407, 380, 351
The market is bullish and it is necessary to look for strong support zones to forge long positions. The focus is also on the resistance 460. A breakout and consolidation above this zone will be the reason for further consolidation to the upper boundary of the trend
Rate, share your opinion and questions, let's discuss what's going on with ★BCHUSDT ;)
Regards R. Linda!
BTC eyes on 63.3k: the Mason-Dixon line of correction from topThis is part of my ongoing analysis, see links below.
We have been orbiting 63.3k for several days.
It is a key level of the wave down from the top.
North of 63.3 is bullish, South of line is bearish.
This chart is also a good example of my concept.
The red fibs are extensions of an Impulse (fib 0.1).
Purple lines are retracement levels of entire wave.
Previous plots and logic that lead here (click the links):
- 73k Top Call no one expected
- Retrace Roadmap of Support zones
- 56.8k imagined but not believed
- Impulse Redux confirms the targets
- Fine tuned plot calls 56.8k bottom
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BBUSDT → The key value of the zone is 0.480BINANCE:BBUSDT does not fall after the false breakdown, but goes into the phase of consolidation. Buyers are resisting. Retest of the key resistance may lead to a breakout and rally.
Fundamentally active recovery is connected with bitcoin rally. The flagship is pulling the cryptocurrency market with it. Technically, the situation is developing in a bullish scenario. It is worth paying attention to the resistance at 0.48.
On D1-H4, the market confirms the bullish market structure and is currently in the correction phase. If buyers continue market consolidation near the resistance and gradually start pushing towards 0.48 resistance, then in this case we should expect a breakdown, price consolidation above the level with further growth towards the mentioned targets.
Resistance levels: 0.48, 0.575
Support levels: 0.45, 0.463
It is not excluded that sellers may hold the resistance, in this case the price may go down to 0.7-0.79 fibo before further growth. But, the focus at the moment is on the resistance 0.48, once it is broken, despite the specific scenario, only then the coin will start an active growth phase.
Rate, share your opinion and questions, let's discuss what's going on with ★ BounceBit / Tether ;)
Regards R. Linda!
ICP/USDT Trading ScenarioAmid the negative news about Bitcoin, the price of ICP significantly declined, falling from a local high of $20.937 to $5.837, a drop of over 71%. The asset's price chart has fallen below the 0.75 Fibonacci level, which is often interpreted as a favorable buying zone.
From the perspective of volume profile, the area of interest for market participants is significantly higher, in the range of $13.041.
Currently, there is a positive reaction from buyers at the $5.837 mark, as evidenced by the formation of a daily pin bar. This signal could indicate a potential trend reversal and the beginning of an upward movement, as a pin bar typically signifies a change in market sentiment.
AAPL blasts to new ATH, heads up at $209 then 220 for pullbacksPart of my ongoing analysis, see links below.
Finally, a break of our 3 YEAR old resistance (see below).
WWDC event probably fueled the surge, albeit a day late.
Mapped are key resistances above, for possible pullbacks.
$ 208.26 - 209.53 is the immediate hurdle.
$ 218.76 - 220.68 is a more serious barrier.
$ 256.10 - 257.41 is next MAJOR resistance.
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Previous posts covering AAPL (click):
- Genesis (from birth) Sequence
- $197 was targeted 3 Years ago
- $159 was the focus 2 yrs ago
- Exact map of ATH Resistance
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I will post updates as price action progresses
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ANF retrace from ATH: eyes on $104 then 92 ideal retrace TargetANF has been on a relentless bull run.
It has obviously hit "a" top if not "the" top.
Mapped are key areas of interest for entries.
$ 111.65-112.64 is current support, should break.
$ 103.14-103.14 is the minimum expected retrace.
$ 91.53 - 92.54 is the 'Ideal" zone for long entries.
Key is to observe price action at each fib for clues.
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