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Fibonnacci

Is Solana Gearing Up for Another Rally?Since early October 2023, Solana has experienced an impressive 1,000% growth, reaching its peak on March 18, 2024. Following this significant rally, the price entered a corrective rectangle pattern, retracing 50% of the previous wave and preparing for the next upward move. After breaking out of the corrective pattern and achieving notable growth, Solana has now formed a zigzag corrective pattern. The price retraced from the 38.2% Fibonacci level, which aligns with the March 18, 2024 peak. Additionally, the price has shown a positive reaction to the midline of the ascending channel. Given this structure, it is expected that Solana will continue its upward trend and touch the upper boundary of the ascending channel. If you found this (SOL) analysis helpful, let us know by hitting the like button! 💙 Where do you think Solana is headed next? 🚀 Drop your predictions and insights in the comments section below! 👇
Long
by Market-Analyzer
AVAX/USD Fibonacci targets Avax has to hold the blue level to retest the previous local high. Breaking it will set us flying towards the red targets . The current chart shows the most important Fibonacci targets. Grey: Resistance/support, decisive prices. A dump/pump can happen at these levels, but is not a main target Red: Main target to take profits or potentially enter shorts Green: Buy or rebounce expected Red box: resitance are, mainly caused by the 1.618-1.65 fib level Green box: Support level, mainly 0.618-0.65 fib Breaking each target gets us to the next one.
BINANCE:AVAXUSD
by DCCryptoacademy
Moon bois, FOMO and gamblers will shit their pants!Middle term view of NVDA price action if correction continuous (based on fib levels) 1) Over all market is overvalued as well as NVDA stock; 2) everyhing priced in already; 3) Lot's of moonbois fomo and gamblers are in which is main bearish signal; 4) we have uncertainty about Trump, he's an as=hole and everybody knows it; 5) geopolitical problems and wars around the world; 6) Bearish divergence on weekly TM; 7) No volume, pure pump by MM's; 8) Fakeout previous ATH; Just a little food for thought, make decision yourself wish you lucky and all the best
NASDAQ:NVDAShort
by besikmurjikneli
2
XAUUSD Forecast Dec 2024Hi all Traders! In the XAUUSD H4 chart, it is observed that after breaking the support zone, the price is currently in a correction phase and pulling back towards low level fibonacci or continue to above. Considering the price structure and hit fibo 50%, it is expected that after reaching the identified resistance area, the price will resume its downward movement and target lower levels or after rejection in fibo 61.8% will be uptrend and then continue to downtrend. Key Points: Forecast 1 : Sell Entry 1 : Consider entering a Short Limit position around Fibs 50% with price of 2663.27, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum. Target Levels: 2560.75 Sell Entry 2 : Consider entering a Short Limit position around Fibs -0.382% with price of 2765.78, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum. Target Levels: 2516.35 Buy Entry : Consider entering a Long Limit position around Fibs 1.382% with price of 2560.75, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum. Target Levels: 2765.78 Forecast 2 : Sell Entry 1 : Consider entering a Short Limit position around Fibs -0.382% with price of 2765.78, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum. Target Levels: 2516.35 Buy Entry : Consider entering a Long Limit position around Fibs 61.8% with price of 2649.55, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum. Target Levels: 2765.78 Forecast 3 : Sell Entry : Consider entering a Short Limit position around Fibs 50% with price of 2663.27, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum. Target Levels: 2516.35 like and share your thoughts in the comments thank you
PEPPERSTONE:XAUUSD
by traderkarbitan
Measured Moves: A Guide to Finding TargetsMeasured Moves: A Guide to Finding Targets Visualizing the boundaries of price movement helps anticipate potential swing points. The concept of measured moves offers a structured framework to estimate future price behavior, based on the observation that each swing move often mirrors the size of the previous one, assuming average price volatility remains consistent. While not exact, this approach provides a practical method to approximate the extension of a swing move. Background Determining profit targets across various methods and timeframes can be challenging. To address this, I reviewed the tactics of experienced traders and market research, noting key similarities and differences. Some traders relied more on discretion, while others used technical targets or predetermined risk-to-reward ratios. Levels of support and resistance (S/R) and the Fibonacci tool frequently appeared, though their application varied by trader. Based on current evidence, levels appear most relevant when tied to the highest and lowest swing points within the current price structure, for example in a range-bound market. In contrast, sporadic or subtle levels from historical movements seem no more significant than random points. The Fibonacci tool can provide value since measurements are based on actual price range; however, the related values have limited evidence to support them. To explore these ideas, I conducted measurements on over a thousand continuation setups to identify inherent or consistent patterns in swing moves. It’s important to emphasize that tools and indicators should never be used blindly. Trading requires self-leadership and critical thinking. The application of ideas without understanding their context or validity undermines the decision-making process and leads to inconsistent results. This concept formed the foundation for my analysis, ensuring that methods were tested rather than taken at face value. Definitions Trending price movement advances in steps, either upward or downward. This includes a stronger move followed by a weaker corrective move, also known as a retracement. When the corrective move is done and prices seem to resume the prevailing trend, we can use the prior move to estimate targets; this is known as a projection. For example, if a stock moves up by 10%, pauses, and subsequently makes another move, we can utilize that value to estimate the potential outcome. Well thats the idea.. Data Through manual measurements across various timeframes, price structures, and stock categories, I have gathered data on retracements and projections. However, this information should not be considered precise due to market randomness and inherent volatility. In fact, deviations—such as a notable failure to reach a target or overextensions—can indicate a potential structural change. As this study was conducted with a manual approach, there is a high risk of selection bias, which raises concerns about the methodology's reliability. However, it allows for a more discretionary perspective, enabling observations and discretion that might be overlooked in a purely automated analysis. To simplify the findings, the presented values below represent a combination of all the data. Retracement Tool In the context of price movements within a trend, specifically continuation setups, retracements typically fall between 20% and 50% of the prior move. While retracements beyond 50% are less common, this does not necessarily invalidate the setup. From my observations, two distinct patterns emerge. First, a shallow retracement where the stock consolidates within a narrow range, typically pulling back no more than 10% to 20% before continuing its trend. Second, a deeper retracement, often around 50%, followed by a nested move higher before a continuation. For those referencing commonly mentioned values (though not validated), levels such as 23.6%, 38.2%, 44.7%, and 50% align with this range. Additionally, 18% frequently appears as a notable breakout point. However, I strongly advise against relying on precise numbers with conviction due to the natural volatility and randomness inherent in the market. Instead, a more reliable approach is to maintain a broad perspective—for example, recognizing that retracements in the 20% to 50% range are common before a continuation. This approach allows flexibility and helps account for the variability in price action. Projection Tool When there is a swing move either upward or downward, we can utilize the preceding one of the same type for estimation. This approach can be used exclusively since it is applicable for retracements, projections, and range-bound markets as long as there has been a similar price event in recent time. In terms of projection, the most common range is between 60% and 120% of the prior move, with 70% to 100% being more prevalent. It is uncommon for a stock to exceed 130% of the preceding move. Frequently mentioned values in this context include 61.8% and 78.6% as one area, although these values are frequently surpassed. The next two commonly mentioned values are 88.6% and 100%, which are the most frequent and can be used effectively on their own. These values represent a complete measured move, as they closely mimic the magnitude of the prior move with some buffer. The last value, 127%, is also notable, but exceeding this level is less common. Application The simplest application of this information is to input the range of 80% to 100% into the projection tool. Then, measure a similar prior move to estimate the subsequent one. This is known as the measured move. There are no strict rules to follow—it’s more of an art. The key is to measure the most similar move in recent times. If the levels appear unclear or overly complicated, they likely are. The process should remain simple and combined with a discretionary perspective. Interestingly, using parallel channels follows the same principle, as they measure the range per swing and project average volatility. This can provide an alternative yet similar way to estimate price movement based on historical swings. The advantage of this method is its universal and adaptable nature for setting estimates. However, it requires a prior swing move and is most effective in continuation setups. Challenges arise when applying it to the start of a new move, exhaustion points, or structural changes, as these can distort short-term price action. For instance, referencing a prior uptrend to project a downtrend is unlikely to be effective due to the opposing asymmetry in swing moves. In some cases, measured moves from earlier periods can be referenced if the current range is similar. Additionally, higher timeframes take precedence over lower ones when determining projections. This is nothing more than a tool and should be used with a discretionary perspective, as with all indicators and drawing tools. The true edge lies elsewhere. Example Use 1. Structure: Identify an established trend or range and measure a clear swing move. 2. Measured Move: Apply the measurement to the subsequent move by duplicating the line to the next point or using a trend-based Fibonacci extension tool set to 100% of the prior swing. The first two points define the swing move. The third point is placed at the deepest part of the subsequent pullback or at the start of the new move. 3. Interpretation: While this is a simple tool, its effective use and contextual application require experience and practice. Remember, this process relies on approximation and discretionary judgment.
NASDAQ:QQQEducation
by StockLeave
12
EURUSD: Optimal Selling Zone!Welcome back! Let me know your thoughts in the comments! ** EURUSD Analysis ! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support! Welcome back! Let me know your thoughts in the comments!
Short
by OGT_Forex
EUR/JPY - Trade idea for the upcoming weekWhy did I choose this trade? Trend Analysis and Bias: -On the 4-hour (4H) chart, the price is in a downward correction but approaching a significant support area (Buy Zone) near 159.274, where I expect buyers to take control. -My bias for the upcoming week is bullish, based on the overall market structure and key technical confirmations. Key Structures and Confirmations: -Break of Structure (BOS): The price has shown bullish strength by breaking key resistance levels multiple times in the past, confirming that buyers are dominant. -Change of Character (CHoCH): After forming my Buy Zone, a clear CHoCH upwards occurred, providing another strong signal of buyer strength. -Liquidity Grab: There is significant liquidity just above my Buy Zone, which has already been filled. This is another strong indication that the price could reverse upward from this zone. -Fibonacci Confluence: I used the Fibonacci retracement tool to refine my Buy Zone. The Buy Zone aligns with the premium Fibonacci range, adding more confidence to the validity of this level. Additionally, I always draw Fibonacci from an area of accumulation that leads to a break of structure. In this case, the accumulation area aligns perfectly with the Buy Zone, making it even stronger. Volume and Imbalance: The previous strong imbalance candle (IMB) shows that the market might retrace upward to fill this gap, further supporting my bullish outlook. Psychological and Technical Levels: The price is approaching the 159.000 level, a psychologically significant number that often acts as a magnet for buyers and sellers. This level aligns closely with my Buy Zone, increasing the probability of a bullish reversal. Trade Plan Entry (Buy): 159.300, slightly above the Buy Zone, to capture the expected bullish reversal. Stop Loss: 158.800, placed below the Buy Zone and the most recent swing low to avoid potential stop hunts. Take Profit (TP): TP1: 161.000 – The nearest resistance level, where price could encounter selling pressure. TP2: 162.000 – A key resistance zone, ideal if bullish momentum continues strongly. Why do I anticipate this move? The Buy Zone is a strong support area, confirmed by Fibonacci confluence, bullish CHoCH, and prior liquidity being filled. The Fibonacci is drawn from an accumulation zone that led to a structure break, further reinforcing the Buy Zone’s significance. My bullish bias for the week aligns with these technical confirmations, suggesting that buyers will likely regain control at this level. A combination of liquidity grab, CHoCH, BOS, and imbalance zones adds additional layers of confidence to this trade idea. Disclaimer: This is solely a trading idea based on my personal analysis, knowledge, and thought process. This is NOT financial advice. Please conduct your own research and implement proper risk management. Trading carries significant risks, and you should never risk more than you can afford to lose. Tilen Safaric
Long
by Safaric
4
$BTC1! Fib Simulation of Fractal (UPD)Perceiving the price action as a function of trading time justifies the quantitative approach in drawing geometric relationship between phases of cycles. Hence, it's safe for me to assume that market is a time fractal which has its own path regardless the collective opinions of the market participants. Logistic curve that reflects well the speed of information spreading made me ignore the voices of masses. The principle aligns with EMH - that the condition of the market is already reflected in the current price. Impulsive and corrective waves are governed by golden rule in one way or the other. That's why I used fibonacci channels to build predictive models which reflect the interconnectedness of composite fractals to the whole cycle. By measuring the extreme levels of historic wave, the derived fibonacci channels exposed the timing, size and probability levels of the next ones. In regular TA, people are wrongfully focused on covering their immediate expectations from the market, analyzing a narrow data range of the chart. Whereas, Fractal Analysis graphically shows how current price is interconnected with the entire history of fluctuations in a single probabilistic map. In this update I fused earlier discovered structures and boundaries to the chart Added more series of fib ratios derived from white triangle (src 0;1) Linear boundaries of macro-fractal: Implementation of fibs with big time Intervals: As violet Fibs: Other observations: We're in a big triangle derived by linear extension 2021 tops and Full cycle (COVID - 2022 LOWS) Source: Implementation: (On interactive chart it darkens till intersection)
CME:BTC1!
by fract
1
XAUUSD Bearish Reversal: Double Top and Golden Pocket Breakdown!OANDA:XAUUSD - 2Hr The analysis suggests the market is showing bearish signals, particularly after price rejected at key resistance zones during the Asian session. The Ascending Channel indicates an upward trend, but the breakdown from the channel signals that bullish momentum is weakening. Key Elements Driving the Short Trade: 1. Golden Pocket (0.5–0.618 Fib): The price has reached the Golden Pocket (between 0.5 and 0.618 Fibonacci levels), a strong reversal zone. Rejections in this zone often signal a potential change in trend, especially when combined with other bearish signals. 2. MML Major Resistance: The MML Major Resistance suggests that the market is encountering a significant obstacle, further validating the potential for a reversal. 3. Strong Resistance: The price is facing Strong Resistance at higher levels, which is causing the price to struggle and reject, confirming the reversal bias. 4. Double Top: The Double Top pattern at the Golden Pocket indicates that the price has attempted to break higher twice but failed, signaling weakness and a likely bearish shift. This pattern often leads to a trend reversal. 5. Price Gap: A Price Gap further confirms a shift in market sentiment, with a possible imbalance or sudden price movement that reinforces the bearish view. Current Price Action: During the Asian session, price broke down from the Ascending Channel, signaling a shift from an uptrend to a potential downtrend. The breakdown occurred near Equilibrium and the 50% Fib retracement, reinforcing the idea of a reversal as this is where price typically finds resistance in a trend. The Double Top at the Golden Pocket suggests a strong potential for a downward move as the price has failed to continue higher. Currently, the price is above a Strong Pivot Point, which is acting as support, potentially leading to a short-term pullback or consolidation before the bearish move continues. Interpretation: The combination of the Golden Pocket, Double Top, and rejection at key resistance levels gives a strong bearish signal. The ideal entry point would be after confirmation of price breaking below the Strong Pivot Point or failing to sustain above it, with a target near the next support or at Price Gap, as mentioned Price target. Place the stop loss just above the Double Top or near the Strong Resistance zone to limit risk in case the market reverses back up. In conclusion, the market is showing signs of a bearish reversal after rejection at multiple key levels, and the analysis points toward potential short opportunities with proper risk management. "Stick to Your Plan and Manage Risk, Happy Trading!"
OANDA:XAUUSDShort
by SpicyPips
TOTAL 3 - Crypto Total Market Cap excluding BTC and ETHVery technical. A global trend, followed by a correction to the 0.618 Fibonacci level and the global order block, which is also the PoC (Point of Control) of the entire trend movement. We're clearly moving within a kind of wedge. We haven't been fans of technical analysis for a while, but part of it will always stay with us. I think this is one of those moments when, after it plays out, people will look back and say: "How obvious it was." There are two options here: either one more update of the lows on altcoins or a correction upwards. Two scenarios, but globally, it doesn't change anything.
CRYPTOCAP:TOTAL3Long
by -NIKO-
Tesla’s Next Move: Riding the Q3 MomentumDescription: In this analysis, we dive deep into Tesla’s recent performance and explore potential future price action. Fueled by an impressive Q3 earnings beat, Tesla has seen a bullish surge. Here, I’ll guide you through key technical and fundamental insights, using the FibExtender Pro to map out support and resistance zones, and provide a structured plan for potential entry, profit targets, and stop-loss levels. My goal is to offer a clear perspective for those considering Tesla’s next moves, balancing optimistic outlooks with realistic caution in case of market reversals. Introduction: NASDAQ:TSLA has been the talk of the market this past week, with its third-quarter earnings report surprising analysts and investors alike. The company not only exceeded revenue expectations but also showcased significant growth in profit margins, particularly in its energy generation and storage segments. This recent performance has set a bullish tone, sparking a 26% surge in Tesla’s stock price over just a few days. This idea aims to explore Tesla’s current momentum, analyze key technical levels using the FibExtender Pro script, and present potential trading opportunities for the days ahead. I’ll break down my thoughts into straightforward sections for entry points, profit targets, and stop-loss levels based on recent data, technical indicators, and broader market sentiment. Tesla’s Q3 Earnings Fueling the Bullish Trend Tesla’s third-quarter report painted an impressive picture, with strong revenue growth and margin improvements that bucked some of the broader economic trends affecting the automotive industry. As electric vehicle adoption accelerates, Tesla continues to leverage its market leadership, supported by CEO Elon Musk’s optimistic guidance on future vehicle sales and advancements in autonomous technology. Notably, the company reported a significant 20-30% expected vehicle sales growth for 2025, adding fuel to the stock’s upward momentum​. This positive sentiment, combined with Tesla’s ambitious long-term goals (such as robotaxi deployment by 2026), has prompted many analysts to revise their price targets. While some have remained cautious, noting high valuations, the consensus leans towards a bullish short- to mid-term outlook, primarily due to Tesla’s earnings momentum and strong brand positioning. Technical Analysis with FibExtender Pro: Key Levels to Watch Using the FibExtender Pro script, which identifies Fibonacci-based support and resistance zones, we can map out Tesla’s potential price action in the short term. As illustrated in the chart, two crucial levels have emerged: a resistance zone near $277 and a support zone around $233. Let’s walk through these levels and explore possible scenarios for Tesla’s price action. Resistance at $277 : This level has been marked as a critical resistance zone based on recent price action and Fibonacci retracement levels. Given Tesla’s recent surge, reaching this level is a strong possibility if the bullish momentum continues. A breakout above $277 would indicate a strong bullish continuation and could open doors for Tesla to test even higher resistance levels, potentially moving towards the $290-$300 range. Support at $233 : On the downside, $233 represents a major support level where buyers may step in if Tesla faces a pullback. This level serves as a safeguard against market reversals, providing a solid entry for those looking to buy Tesla at a discount if market conditions turn volatile. Potential Trade Setup Entry Point: If Tesla’s bullish momentum continues, entering around the $250-$255 range would be ideal. This level allows us to capitalize on upward momentum while keeping a buffer below the resistance zone. However, patience may be key here; waiting for a slight pullback or a consolidation period around this range could provide a better risk-to-reward setup. Profit Targets: First Target at $277 : This is the initial resistance level, and a prudent place to secure partial profits, particularly if Tesla faces resistance here as it did previously. Extended Target at $290-$300 : If Tesla breaks above $277 with strong volume, the next resistance zone sits in the $290-$300 range. Reaching this level would signal continued bullish strength and could offer further upside for those willing to hold. Stop-Loss Level: To manage risk, consider placing a stop-loss just below the support level at $233. This stop will protect against a deeper pullback, potentially caused by profit-taking or broader market weakness. A more conservative stop could be placed at $240 to accommodate minor fluctuations while still protecting capital. Analyzing Broader Market Conditions While Tesla’s recent earnings and price action are compelling, it’s crucial to account for the broader market context. Macro-economic headwinds, particularly interest rate hikes and inflation concerns, continue to affect growth stocks. Additionally, Tesla’s valuation remains high, and any negative shift in investor sentiment could lead to a correction. Here’s how these factors play into our analysis: Interest Rates : Rising interest rates could create resistance for high-growth stocks like Tesla, as higher borrowing costs can impact both consumer spending and Tesla’s operational expenses. EV Competition : Although Tesla remains the market leader, increased competition from other automakers, such as Ford and Rivian, could influence its long-term dominance. Keeping an eye on developments within the EV sector is essential for assessing Tesla’s sustainability. Considering these factors helps us balance the optimistic outlook with realistic caution, preparing for any unexpected shifts in market sentiment. My Thought Process Behind This Trade Idea From a technical perspective, Tesla’s recent surge post-earnings provides a strong bullish setup. By analyzing the FibExtender Pro ’s support and resistance levels, I’ve identified the $277 level as a short-term profit target. My goal is to provide readers with a comprehensive view of Tesla’s current momentum and map out a clear trading strategy, combining fundamental strength with Fibonacci-based technical analysis . This approach is especially helpful in markets like Tesla’s, where rapid moves often require adaptable entry and exit points. Furthermore, it’s essential to consider profit-taking strategies. As Tesla approaches each resistance level, locking in partial profits can protect against sudden reversals, while maintaining upside exposure for continued gains. With stop-losses positioned below support, this strategy offers a structured risk-reward setup, balancing bullish optimism with prudent risk management. Conclusion Tesla’s recent performance and bullish sentiment provide a promising outlook for the stock. However, as with any trading decision, it’s essential to balance the potential upside with well-planned risk management. Based on the FibExtender Pro analysis, Tesla’s next key resistance level lies at $277, with an extended target of $290-$300. Support at $233 offers a safety net in case of market corrections. This idea aims to guide traders through Tesla’s current setup, blending fundamental insights with technical precision. By following this structured approach, we can make informed decisions, capitalizing on Tesla’s momentum while safeguarding against potential pullbacks. Whether Tesla continues its bullish climb or encounters resistance, this analysis provides a framework to adapt and respond confidently. Key Takeaways: Entry Range : $250-$255 Profit Targets : $277 (first target), $290-$300 (extended target) Stop-Loss : Below $233 (preferably around $240 for a conservative buffer) This trading idea seeks to balance optimism with caution, setting realistic targets that align with Tesla’s recent performance and technical signals. Remember, while the bullish setup is promising, unexpected market shifts could impact Tesla’s trajectory. Stay alert, manage your risks, and adjust your strategy based on real-time market feedback. Trade safe and stay informed! Let’s make smart moves together. – TradeVizion
NASDAQ:TSLALong
by TradeVizion
ZIL, Zilliqa, 0.618 Fib retrace sets up a 47x targetmy favorite trade; Golden pocket special.. What's Zil up to these days anyway? Key Points Trump lol The Trade: Entry: $0.0136 would be best, but given the R:R It's still tempting here at $0.016 Stop: $0.01 Target: $0.80 D.Y.O.R. DO NOT BLINDLY TAKE THESE TRADES. Never Trust. Verify. PLEASE DO YOUR OWN ANALYSIS. This is not financial advice. These are just my observations. Technical Analysis is not about being right, it's about increasing your odds. Be prepared to be wrong. Risk management is key. Capital preservation above all else.
BINANCE:ZILUSDLong
by TribeWriter666
Next Target for DYDXUSDT After Downtrend BreakoutThe DYDXUSDT pair, after breaking out of the downward channel to the upside, is currently forming higher lows and highs. The Fibonacci extension of the previous bullish wave aligns with the 1.3500 level, which also corresponds to the previous high. Therefore, our target price is set at this level. SL (Stop Loss): 1.1742 TP (Take Profit): 1.3500 Risk/Reward Ratio: 1.67 Do you think we’ll hit the target? Let’s discuss your insights and predictions below! And don’t forget to like if you found this analysis helpful
Long
by Market-Analyzer
ADA, Cardano, 0.5 Fib retrace sets up a 27x Algo targetCan you feel that? the weight has been lifted... With Trump winning the election and BTC breaking ATH, expect alts to rally. Hard. Cardano is set up perfectly, there isn't a better entry than this. Key Points: The 2020 bull market fully retraced to 0.5 fib A retrace to only 0.5 fib suggests Cardano is very strong 0.5 tested multiple times with a higher low now in Trump won the election - very bullish for crypto The Trade: Entry: anywhere here. this is a monthly chart. Think bigger picture. Buy and hold. Algo Target: $10.33 (27x) Stops: if something weird happens and this starts selling off, I'd be out under that previous low. Range Expansion Target: $38.60 (100x) - less likely but who knows, might be worth keeping a small moon bag. We won't talk about the Elliot wave targets... too high, too much hopium D.Y.O.R. DO NOT BLINDLY TAKE THESE TRADES. Never Trust. Verify. PLEASE DO YOUR OWN ANALYSIS. This is not financial advice. These are just my observations. Technical Analysis is not about being right, it's about increasing your odds. Be prepared to be wrong. Risk management is key. Capital preservation above all else.
Long
by TribeWriter666
Analysis: Key Levels to Watch for Short and Long OpportunitiesI'm watching the Nasdaq closely as it approaches a critical decision point. In this analysis, I’ll outline two potential scenarios, including both short and long trade ideas based on the confluence of key technical levels. Current Setup and Key Level: 20,320 Right now, the 20,320 level is my primary focus. This level aligns with: The 38.2% Fibonacci retracement of the recent downtrend, suggesting potential resistance. The VWAP (Volume-Weighted Average Price), which is acting as a dynamic resistance level. This confluence makes 20,320 a critical resistance zone, where the market might either reverse or push through, setting the tone for the next significant move. Scenario 1: Short Opportunity at 20,320 Resistance If the price approaches 20,320 and shows signs of rejection (like a bearish candle pattern), I’m looking to take a short position at this level. Here’s why: Fibonacci & VWAP Confluence: The alignment of the 38.2% Fib level with the VWAP reinforces this level as a strong potential resistance. Risk Management: I would place a stop-loss above the 50% Fib level (around 20,400) to manage risk if the price breaks higher. Targets: My initial target would be around the 20,000 level. If this breaks, I anticipate a stronger move downward due to potential stop-losses being triggered below 20,000 (more on that below). Note on Stop-Loss Clusters: I believe many traders might have their stops placed just below the 20,000 mark. If the price breaks below this level, we could see a quick, momentum-driven move lower as these stops are triggered, potentially driving price toward deeper levels. Scenario 2: Bullish Break Above 20,320 If the price breaks above 20,320 and holds above both the VWAP and the 38.2% Fib level, it could signal a bullish shift. Here’s what I’m looking for in this scenario: Confirmation Above VWAP and Fib Level: A strong break and close above these levels would indicate that bulls are taking control and might push for higher retracement levels. Potential Targets: In this scenario, I’d look for the price to move towards the 50% Fibonacci level (around 20,400) as the next resistance, followed by the 61.8% level near 20,500 if momentum holds. Invalidation for Shorts: A decisive break and hold above 20,320 would invalidate the short setup. If this happens, I’ll look for potential long entries on a pullback to the VWAP or 38.2% Fib as support, with stops below these levels to manage risk. Conclusion The 20,320 area is the key level to watch here, with potential for both short and long setups: Short Scenario: Look for rejection at 20,320 to target a move down to 20,000, with a possible extension lower if the 20,000 support breaks. Long Scenario: A break above 20,320 could open the door for further upside, with potential targets around 20,400 and 20,500. This setup combines technical indicators with price psychology, as stops clustered around the 20,000 level may drive significant moves if that support level is breached. I'll be monitoring how the price reacts to 20,320 closely for confirmation of either setup. Let me know if you see anything differently or if you have any questions. Happy trading!
CME_MINI:MNQZ2024
by natron
1