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2024-11-25 - priceactiontds - daily update - goldGood Evening and I hope you are well. tl;dr gold - Neutral. In my weekly outlook I gave the pullback target 2650 and we got 2616. 2600 is the absolut lowest this should go or bulls are in trouble. Best would be to stay above 2620 and then I expect Tuesday or Wednesday another leg up. My target was 2866 but the pullback was much deeper than expected so my upper target is also coming down some. 2800 is still on the table. Will only think about getting bearish below 2540. comment : Will make this quick today. Two paths I think are valid. First one is from my weekly outlook where today was the B from the ABC. C could lead to 2800+. Alternativ is continuation of this triangle for some time. What I don’t see happening is bears breaking below 2500 and continuing down. Bulls would do best to keep this above 2600 and reverse latest from there. Selling is certainly strong enough again to expect more of it. current market cycle: trading range key levels: 2550 - 2800 bull case: Bulls see this as a 50% retracement of the recent climactic buying from last week. If they allow it to retest 2580 or lower, odds rise that we will continue sideways instead of higher above 2730. 2630 is the worst place to trade, given the current structure. So look for longs only on very strong momentum and a second buy signal or near 2560 again. Invalidation is below 2540. bear case : Bears are printing much better bear bars than bulls do bull bars and on increased volume at that. They want a to retest 2540 and maybe 2500. If they can get it, I doubt many bulls would continue to expect 2800 or even higher prices. Interesting day tomorrow to see where we will go from here. Invalidation is above 2720. short term: Neutral. 50% retracement of recent bull leg is 2630, so don’t trade around that price. medium-long term - Update from 2024-11-24: Likely to close 2024 above 2800 but I do think the recent selling was the first hint that we will transition into a trading range soon. current swing trade: None trade of the day: Selling anywhere was good.
COMEX_MINI:MGC1!
by priceactiontds
#BTC 1D: Correction Phase – Key Buy Levels Marked!The correction I previously warned about has occurred. After a strong rally, the asset's price has stabilized and is now fluctuating within a narrow range (sideways movement), which is a natural correction phase. Most of the trading volume for #BTC is concentrated around $89,216, a key support level where buyers may step in to sustain the price. In the short term, I expect the price to continue moving sideways, with potential bounces or reactions primarily around $89,216—a critical support level. For those trading on the spot (or futures?) market, I suggest considering buying or averaging positions at $89,200, $85,304, and $81,216. DYOR.
Short
by trendbooster
#ADA 1W. Will Trump Boost the Price? 11/25/24Rumor has it that one of the ADA team members is friends with Trump, who has already discussed the integration of cryptocurrency into broader development processes. This could, in turn, influence the price of #ADA. An entry into the position can be considered with 3 limit orders: 15-40% from the current level and 2 more pending orders. Exiting the position will also be done with 3 limit orders. Once the first take profit is hit, I’ll move the stop-loss to the entry point. Wishing everyone profits!
Long
by trendbooster
1
GOLD MARKET ANALYSIS AND COMMENTARY - [Nov 25 - Nov 29]Last week, gold prices continuously recovered from 2,564 USD/oz to 2,716 USD/oz. The reason why gold prices increased sharply this week is because investors are concerned that the war between Russia and Ukraine will take a more serious turn when President Biden allows Ukraine to use long-range ATACMS missiles to fire into Russian territory to in response to Russia's deployment of North Korean troops in the Russia-Ukraine war. Besides, Mr. Biden seems to want to make his mark in the Russia-Ukraine war when he only has about 2 months left in power before handing it over to Mr. Donald Trump. In addition, according to many experts, this move by Mr. Biden may complicate the war between Russia and Ukraine, making it difficult for Mr. Donald Trump to end the hostilities as easily as he announced during the campaign. elect US President... Perhaps most alarming is the nuclear doctrine that Russia emphasizes. It considers any attack by a non-nuclear country supported by a nuclear power to be a joint attack. This means that Ukraine's use of ATACMS missiles also means that the US is directly involved in attacking Russia, making the war between Russia and Ukraine no longer a war between these two countries, but could potentially lead to a world war. War III. However, according to many experts, the US may only provide a limited number of missiles to Ukraine, fearing the dire consequences of this move. Therefore, the war between Russia and Ukraine is unlikely to drag many other countries, especially NATO member countries, into the war. Furthermore, with only 2 months left until Mr. Trump takes office as President of the United States, the war between Russia and Ukraine will soon subside. The need for refuge in gold may continue to increase in the short term as Russia and the US are still taking tough stances in the Russia-Ukraine war. Therefore, next week's gold price may continue to rise even higher. This week, the US announced two important indicators: third quarter GDP and personal consumption expenditure index (PCE) - an important inflation measure of the FED. If Q3 GDP declines and PCE increases, it will be difficult for the FED to resist further reducing interest rates, further supporting the rise in gold prices next week. On the contrary, if GDP increases and PCE decreases, the FED will have more motivation to delay cutting interest rates, causing gold prices next week to be negatively affected. 📌From a technical perspective, on the H4 chart, a head and shoulders pattern is forming, but a few more up/down cycles are needed to confirm. Specifically, if the gold price has a correction phase to around the support level of 2640, then bounces back to break the resistance level of 2711, then it can be expected that the price will continue to maintain its upward momentum above the 2790 threshold. In case of support area If 2600 is broken, it could trigger another sell-off, causing gold prices to fall to around 2500. Notable technical levels are listed below. Support: 2,684 – 2,697USD Resistance: 2,760 – 2,750 – 2,732USD SELL XAUUSD PRICE 2791 - 2789⚡️ ↠↠ Stoploss 2795 BUY XAUUSD PRICE 2639 - 2641⚡️ ↠↠ Stoploss 2635
OANDA:XAUUSD
by Xayah_trading
#202447 - priceactiontds - weekly update - goldGood Evening and I hope you are well. tl;dr gold futures: I was bullish last Sunday and boi did that pay but now is not the time to buy into this climax. Market is way overdue for a pullback but I would not try to pick the top here. Only longs for me on this but only after we have seen some sideways to down movement. Buying is strong enough to expect a second leg up, which could bring us to 2900. I do think it is highly likely that we close this year above 2800. Quote from last week: comment: Market took 48 days to gain the 10% we now lost in 14. This selling is climactic and thus unsustainable. We will soon see a bigger bounce, if not a complete reversal to 2800 again. On the daily chart it looks nasty but on the weekly chart tis but a scratch. Bears closed all but one open bull gap and technically just retested the breakout price for the previous bull leg. This selling is strong enough to seriously doubt much higher prices than 2800. What I do expect is some bounce and more sideways movement between 2600-2800 before we could test lower prices (2300-2400) next year. For now it’s too early to go long, since market has not found a credible bottom yet but since market has not traded much below the weekly 20ema for a year. Swing longs with stop 2480ish are very reasonable. comment: Market overdid it a bit with the selling and since Monday there are no bears to be found. Measured move up gives us 2866 and if we reach that, 2900 is probably given. You can’t think bearish at all until we reach 2800 again. 5 very strong bull bars closing at the highs. Can’t get any stronger for the bulls. Right now we went from overbought to oversold to overbought. Some pullback is expected and it will likely be a great buying opportunity. current market cycle: Bull trend key levels: 2500 - 2900 bull case: Can you buy the highs at 2700 and hope for a 6th consecutive bullish day? I would not. Only interested in buying this on pullbacks but I due think it’s bullish and nothing else. Will likely close 2024 above 2800 if not 2900. Next target for the bulls is 2750, followed by 2800. Dip can go as low as 2650 but below I would get more cautious. Invalidation is below 2650. bear case: Bears gave up on Monday. No argument for them at all here and I won’t make much up. Can only see more selling pressure coming back around 2800. I expect any pullback to be bought. Invalidation is above 2750. outlook last week: short term: Neutral until bulls claim 2630 again. 2540 just has to hold or if we spike down to 2500 we would have to see huge buying or this will flush down more. Bears are in full control until market trades above the 4h ema again. → Last Sunday we traded 2570 and now we are at 2712. Perfect. Hope you made some or at least did not short the lows. short term: Max bullish if we stay above 2650. 2800 is my expectation and 2900 possible. medium-long term - Update from 2024-11-24: Likely to close 2024 above 2800 but I do think the recent selling was the first hint that we will transition into a trading range soon. current swing trade: None chart update: Added two legged correction (ABC)
COMEX_MINI:MGC1!
by priceactiontds
#202447 - priceactiontds - weekly update - sp500 e-mini futuresGood Evening and I hope you are well. tl;dr sp500 e-mini futures: Bullish. 5 consecutive days where bears tried and bulls closed at the highs. Buy signals do not get better than this. Above 6000 we see 6050 and most likely an acceleration up to new highs. 6100 and 6150 the obvious next targets. Bears need a daily close below 5850 and would still have a bigger bull trend line to break there so the downside is likely limited. Quote from last week: comment: 50% retracement hit and market closed above it on Friday. My preferred path for next week is a huge bull reversal higher. Is this likely after 2 strong bear days? No it’s not, so I have to wait for either side to show a clear new direction or continuation. If this goes to 5800 without me, so be it. I think after such a big rally with follow through buying above 6000, a retracement to 50% is a buy and not a sell. comment : Bullish bias I had, bullish it was. Market looks like it wants up bad. Every dip is bought heavily on increasing volume. Time is now to get above 6100 or we won’t get it at all. Market is beyond overvalued, overbought and the poor late bulls are just arriving. Guess who will be left holding the bags again. current market cycle: Bull trend key levels : 5850 - 6150 (maybe even 6200) bull case: Last hurrah. 6100 is my first target but can absolutely go beyond 6200. Anything below 5800 would be the end of this. I don’t feel the need to explain this further. The chart is crystal clear. I have written about this blow-off top for many weeks. Just don’t forget to take profits before this turns badly. I do think the odds of this closing 2024 below 6000 are low but can absolutely happen. These bullish profits since August are outrageous and once the run for the exits begins, it will be ruthless. Invalidation is below 5800. bear case: Bears gave up on Friday. If they can’t get below 5900 on Monday, we will see a meltup. No bear will come around big time before 6050 and even then I think they will let the bulls show signs of exhaustion before they be aggressive. Invalidation is above 5800. outlook last week: short term: I want to join the bulls again. Need strong confirmation first though. Still no interest in selling as of now. → Last Sunday we traded 5896 and now we are at 5987. Perfect outlook. Hope you made some. short term: Bullish all the way. If market closes below 5900 I would turn neutral and daily close below 5800 would probably be the end of my bullish thesis and I turn bear. medium-long term - Update from 2024-11-24: 6100+ are my last targets for the bulls before this bubble begins to pop or at least deflate. current swing trade: None chart update: Added potential bullish 5-wave series.
CME_MINI:MES1!Long
by priceactiontds
#ES_F Day Trading Prep Week 11.24 - 11.29.24Last Week : Sunday Globex opened and held over lower ranges Value which put is in this 940 - 880+/- Distribution Balance, holding under 930s Edge kept giving us weakness into lower VAH but Tuesday Pre Market move into Value failed after tagging the Mean, prices were able to hold and climb back over the Edge which brought stability and more buying to close things up with a push/hold inside above Value. This Week: We have a tricky week coming up as we have End of the Month Week, Holiday, Supply inside and above current Value and buying/cost basis that we built up under 940s. This could lead towards slower back and forth trading inside/around this Value. Probably not a week to push for too much continuation on either side and maybe watch for smaller ranges. We are now inside 970 - 620 Intraday Range and if we have enough supply around/above it and buying under that could keep the price balancing around it. Unless volume comes in to knock us back down under VAL and can get us under 940s or make a push over 620s and start holding over 630+ then id be careful on holding too long or looking for big moves on either side, might be more of consolidation choppier trading. On Daily TF we have again made a move under Smaller MA, made a push for but no tag of anything bigger under and popped back out to finish the week, we may require more sideways action in this current HTF Range of 930s - 650s +/- Before we would be ready for any bigger corrections and this could take time to set up, and of course we arent looking for much higher prices unless we can built up under above Edge and get a good push through it with a hold without coming back in. Time to be careful and tighten up.
CME_MINI:ES1!
by HollowMn
Bitcoin’s CME futures gap gives a clue for the 1st big correctonAnytime you see a gap in price action like this they almost always get filled, and typically get filled sooner than later. So while there is a chance bitcoin could turn the current mild retracement into a deeper pullback that goes down to fill this gap, until the current support on btc is broken, which is the top trendline of the rising wedge it now currently has 3 consecutive daily candles above(not shown here), I think it’s more probable that bitcoin waits for a much more powerful resistance line that results in a much stronger rejection before it corrects back down far enough to fill this gap. If the current pullback doesn’t lead to the gap fill then my guess is once we retest the top green trendline of this group of channels: That this would be the perfect time to have our first significant correction of the current parabolic phase of the bull market. I will be prepared for either zone to have a chance to fill that gap and plan accordingly, Also a few measured move targets around the 115 - 116k range so a pullback could potentially occur around that zone as well. *not financial advice*
CME:BTC1!
by DrDovetail
#NOT 4H. Symmetrical triangle and potential for growth. 11/20/24Looks solid. At the moment, the price has formed a "symmetrical triangle" pattern. I expect a bit more sideways movement, followed by a breakout and an upward move. I believe the launch of new tap-to-earn tokens in November will drive growth across the entire Ton ecosystem. From the current levels, I anticipate at least a 50% increase without leverage. You already know the mid-term targets for Notcoin. Well, these are my targets and my opinion—it's up to you to decide what to do with these thoughts.
Long
by trendbooster
1
#BTC 1D. Probable Correction. 11/23/24The current #BTC price is too high compared to market indicators, and there is a likelihood of a near-term decline. This often happens when Bitcoin reaches new highs, but these movements are not supported by genuine market strength and are instead artificially created to attract liquidity, which is later taken away by manipulators. It’s possible that Bitcoin won’t reach $100,000 (I personally don’t consider this scenario, let me clarify right away), despite the current growth. This could be due to manipulations by major players who won’t allow the price to rise to this level. However, this seems too obvious, so it’s unlikely. Don’t get your hopes up for a sharp decline. Personally, I believe Bitcoin won’t experience significant drops (corrections) in the near future but will instead continue moving steadily, avoiding sharp downward movements. In my humble opinion, Bitcoin’s upward trend will persist, but the price will fluctuate within a prolonged sideways range (as we saw this past summer). Ideally, we’d see a consolidation before the next significant growth. During this sideways phase, funds are likely to flow into other cryptocurrencies (altcoins), which have shown significant percentage gains in the past two weeks. However, Bitcoin's dominance in the overall cryptocurrency market capitalization remains high and hasn’t decreased, which currently prevents altcoins from achieving substantial growth. Once dominance drops, we’ll see significant growth across all cryptocurrencies. Taking this opportunity, I want to remind you once again that the current cryptocurrency market represents a unique moment that may never return. I urge you to stay informed about ongoing events to ensure you don’t miss out on this chance. In other words, I’m warning that Bitcoin might not show sharp growth in the current market, but significant movement is expected in altcoins. Pay close attention to this trend, and I’ll help guide you through it!
Short
by trendbooster
Heading into overlap resistance?UK100 is rising towards the pivot which acts as an overlap resistance and could reverse to the pullback support. Pivot: 8,231.90 1st Support: 8,148.65 1st Resistance: 8,319.25 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
ICMARKETS:UK100Short
by ICmarkets
The geopolitical situation is hotter in many placesIn early trading on Asian markets on Thursday (November 21), OANDA:XAUUSD Spot delivery suddenly increased rapidly in the short term and gold prices are currently approaching the 2,660 USD/ounce mark, threatening the trend from the price channel. Growing concerns about the Russia-Ukraine conflict, along with growing uncertainty in global markets, have supported gold's strong recovery this week. On Wednesday, as tensions between Russia and Ukraine escalated, leading to increased geopolitical unrest, investors sought the safety of gold, seen as a hedge against the risks of conflict instability. In response to Ukraine's first long-range missile attack on Russian territory, Russian President Vladimir Putin revised the nuclear weapons guidelines to lower the threshold for nuclear retaliation in response to an attack. series of conventional attacks, leading to increased geopolitical tensions. In addition to the situation between Russia and Ukraine, the tense situation in the Middle East is also a factor supporting gold prices. According to the official website of the United Nations and CNN, on November 20 local time, the United Nations Security Council voted on a ceasefire resolution in Gaza proposed by 10 non-permanent members. The resolution was not passed due to the United States' veto. The remaining 14 countries in the Security Council voted in favor. The resolution "demands that all parties immediately, unconditionally and permanently cease fire and reiterates their demand for the immediate and unconditional release of all detainees." In addition, the resolution further emphasizes the role of the United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA) as the backbone of humanitarian relief operations in Gaza. Additional information, on November 20 local time, the Israeli army attacked a house in the Sheikh Radwan neighborhood, north of Gaza City, killing 66 people and injuring dozens of others. Analysis of technical prospects for OANDA:XAUUSD Gold is currently operating in a very important position for an uptrend from the price channel with price activity attempting to move above the upper edge of the price channel. On the other hand, the Relative Strength Index is also sitting right in the middle of the 50 level, if it breaks above this level it will be a bullish signal. Looking ahead, technically gold is still below resistance levels, from the price channel to EMA21 and the Relative Strength Index. So, it is not yet eligible for a bullish cycle. As long as gold remains below EMA21, it is not yet technically in a bullish position. During the day, with the current operating position, gold is still in an upward trend and notable points will be listed as follows. Support: 2,640USD Resistance: 2,668 – 2,684USD SELL XAUUSD PRICE 2676 - 2674⚡️ ↠↠ Stoploss 2680 →Take Profit 1 2669 ↨ →Take Profit 2 2664 BUY XAUUSD PRICE 2599 - 2601⚡️ ↠↠ Stoploss 2595 →Take Profit 1 2606 ↨ →Take Profit 2 2611
OANDA:XAUUSD
by Xayah_trading
1
GOLD is headed for a 5th day of increaseOANDA:XAUUSD rose for a fourth straight day and is headed for a fifth day of gains on Friday (November 22) as safe-haven demand picks up while traders assess the prospect of further policy easing by the Federal Reserve. Federal Reserve and increasingly escalating geopolitical risks. Gold prices recovered above $2,680 and were on track for their best weekly performance since April as the war between Russia and Ukraine escalated. Ukraine says Russia has launched a "new" ballistic missile toward the city of Dnipro, sending a worrying signal to Western supporters of Kiev. Escalating geopolitical tensions often push investors toward safe-haven assets like gold. When the United States vetoed the United Nations ceasefire resolution in Gaza, relations between Russia and Ukraine became tense again, ensuring gold's long-term appeal. Investors have flocked to safe-haven assets during the global crisis and gold prices have hit multiple record highs since conflict in the Middle East erupted last October. Since the beginning of this year, gold prices have risen nearly 30%, supported by solid central bank gold purchases, growing safe-haven demand and a cycle of interest rate cuts by the Reserve Federal. Although the recovery of the US Dollar put pressure on gold prices, safe-haven demand helped gold prices offset this pressure. A stronger US Dollar often makes goods priced in Dollars more expensive and less attractive. Spot gold prices rose 4% this week, their best gain since April, recovering from their biggest weekly drop in more than three years last week. Gold's decline was fueled by a rise in the US Dollar fueled by Trump's victory in the race for the White House. Investors are also focusing on several Fed officials expected to speak this week. Market expectations for a December rate cut have weakened significantly, with the probability now at 59.4%, much lower than 82.5% a week ago. Analysis of technical prospects for OANDA:XAUUSD On the daily chart, gold broke out of the downtrend from the price channel and initially achieved the conditions for a new bullish cycle to be formed with a move above the EMA21 level. In addition, the Relative Strength Index is also pointing up to surpass 50, which is considered a signal for price increases in the near future. In the immediate future, gold will need to test and surpass the original price level of 2,700 USD. Normally, the original price levels are considered resistance or support depending on price position conditions. If gold surpasses 2,700 USD and maintains stability above the 0.382% Fibonacci retracement level, it will be able to continue to increase by more than 30 Dollars to reach the 0.236% Fibonacci level. Currently, gold has the conditions for a bullish cycle, so technically, combined with the escalating geopolitical risk of market shock, the trend of gold is leaning more towards the possibility of price increases. Notable technical points will be listed as follows. Support: 2,684 - 2,668USD Resistance: 2,697 - 2,700 - 2,732USD SELL XAUUSD PRICE 2711 - 2709⚡️ ↠↠ Stoploss 2715 →Take Profit 1 2704 ↨ →Take Profit 2 2699 BUY XAUUSD PRICE 2639 - 2641⚡️ ↠↠ Stoploss 2635 →Take Profit 1 2646 ↨ →Take Profit 2 2651
OANDA:XAUUSD
by Xayah_trading
Bearish drop off overlap resistance level?COPPER has reacted off the resistance level which is an overlap resistance and could drop from this level to our take profit. Entry: 4.1258 Why we like it: There is an overlap resistance level . Stop loss: 4.2071 Why we like it: There is a pullback resistance level that aligns with the 50% Fibonacci retracement. Take profit: 4.0203 Why we like it: There is a pullback support level. Enjoying your TradingView experience? Review us! Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
VANTAGE:COPPERShort
by VantageMarkets
1
2024-11-21 - priceactiontds - daily update - dax Good Evening and I hope you are well. tl;dr dax xetra - Bullish. 3 times bears tried to close below 19000 and failed. Today bears only printed a higher low and the chances for the bulls are good to get above 19260, test 19360 and then melt above to 19600+. If my thesis is correct, market will not drop much again overnight or tomorrow. Anything below 19140ish is probably invalidation for that. If bears do it again, also a decent chance that bulls give up and we finally see a bigger down move but for now I heavily favor the bulls. comment : Will get a bit whacky now but bear with me. I do think today was W1 of a 5-wave series where W3 will lead to 19450ish and the bear trend line and W5 will lead to 20k because a measured move up from my W3 is almost exactly 20k. So if that will happen, you are welcome. I think the current structure is a simply if this then that case. Market stays above 19000, we will likely break above 19200 for 19450 and so forth. If we print below 19000 again, bulls might give up and we flush down in a bigger move. One side has to give tomorrow and I heavily favor the bulls. current market cycle: trading range key levels: 18800 - 20000 bull case: Bulls closed above the first bear trend line and it was another huge reversal day. Bears tried 3 times and it’s time to give up and find more sellers at higher prices. It’s entirely possible that this market will trade between 18800 and 19300 for the next year. Always be open to many possible outcomes. Invalidation is below 18869. bear case : Bears still see the trend line as not broken enough and they are still printing lower highs and as long as that is the case, they have made money selling highs and they will continue to do so. Problem for the bears is the higher low from today and that the market closed at the highs. If they manage to get below 19000 again, their odds rise and it’s possible that more bulls give up and we see a bigger move down. Invalidation is above 19310.. short term: Bullish. Want to see 19300 and maybe 19400+ tomorrow. Everything below 19000 means I’m wrong and we either chop until world ends or flush down. medium-long term - Update from 2024-10-19: 20000 is the goal for 2024, if bulls do not get it until year end, it will probably not happen for the next 5-10 years. This market is beyond overvalued and will drop 30-50% in the next 5 years. I have no doubts about that. That fact should not be relevant to your trading at all. current swing trade: None trade of the day: Very risky longs around 19000 with a wide stop below y low but they paid.
XETR:DAXLong
by priceactiontds
2024-11-21 - priceactiontds - daily update - sp500Good Evening and I hope you are well. tl;dr sp500 e-mini futures - Neutral below 5990, max bullish above. Bearish only below 5900. I have the close near a bear and a bull trend line, so tough spot for any prediction. I do think after so many attempts by the bears, they have given up and we are now free to do the second round of this blow-off top. Consider me surprised if we continue in my drawn bull channel and bears can get this down 60+ points again. comment : Daily chart tells you 4 consecutive bull bars on increasing volume. Very high chance tomorrow the bears will give up and we test 6050+ again. The bear trend line could still be valid or not, we will only know tomorrow. Above 5980/5990 we will see an acceleration upwards. On the 1h tf you can make a case for 5980 being at the crossing of bull and bear trend line but we will have an answer tomorrow morning. current market cycle: bull trend key levels: 5855 - 6100 bull case: Higher lows and higher highs. Bulls want a retest of the ath and above. I have a measured move target at 6150 and even above 6300. Bulls have all the arguments on their side for a second leg up but to get it, they would have to prevent the market from getting another strong move down to below 5920. It should probably stay above 5950 to trap many bears who sold the highs again. Invalidation is below 5940ish. bear case : Bears do not have much tbh. They sold every high the last days but selling is getting weaker and they can only do it so often before they stop and will only try higher again. Best case for bears is to stay below 5990 and do what we did the whole week, sell the highs for at least 60 points. Invalidation is above 5990. short term: Bullish. Above 5990 uber bullish for new ath. Neutral below 5950 and below. Only below 5800 I turn bear. medium-long term - Update from 2024-11-16: So the top definitely qualifies as a blow-off top but the question if we continue further up, is still valid. It is possible that we are already inside the correction and if we continue below 5860, I highly doubt bulls can get above 6000 again. Given the current market structure, I won’t turn bear because the risk of another retest of the highs or even higher ones are just too big. current swing trade: Nope trade of the day: Same as dax. Yesterdays’ lows held and longs around 5905 were beyond amazing.
CME_MINI:MES1!Long
by priceactiontds
#SNX. Great entry point and upside potential. 11/21/24Synthetix Network Token (SNX) is an Ethereum-based token powering the decentralized protocol for issuing synthetic assets, Synthetix. Synthetic assets are created when SNX token holders provide them as collateral using Mintr, a decentralized application for interacting with Synthetix contracts. Currently, the protocol supports synthetic fiat currencies, cryptocurrencies, and commodities. The situation is similar to #DYDX. The token is in a sideways trend and near the lower boundary. Buying at current levels up to $1.22 is a reasonable idea for spot trading. The nearest target is $3.144. On spot, you can easily achieve at least a 2x return.
Long
by trendbooster
#BTC 2H. Ascending triangle & trend continuation. 11/19/24Earlier, the price formed an "ascending triangle" pattern—a continuation pattern that occurs when the price gradually forms a series of higher lows while the upper boundary (resistance) remains flat or slightly rising. This signals a narrowing range and potential further growth. And I warned you about this in advance! (By the way, which of your traders describes patterns this thoroughly?). But that’s not the point now. According to technical analysis theory, if the price breaks out of the ascending triangle pattern, its movement usually matches the height of the pattern, measured from the base to the peak. If we follow the idea that the movement after the breakout equals the pattern's height, Bitcoin’s price could reach the $100,000 level. And honestly, why not? At the same time, earlier this week, the market was in a "bullish" trend, meaning prices were rising. By the close of trading on the CME exchange on Friday, the price was around ~$92,000. I assume this price will become an important reference point (including a support level) that the price will aim for in the near future.
Long
by trendbooster