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USOIL - Back we go into the gap of dreams! OIL has been a very interesting commodity to look at recently - I have had my eyes on this HUGE gap for a while now and it looks like we are finally inevitably making a return into the range of it. BE CAREFUL HERE - these areas of price are hypersensitive and can provide ugly conditions on intraday charts if not approached correctly. I will personally be closing my short positions once we protrude the box shown on the screen capture - I will re-assess where we go from here in due course. Until then, stay safe and happy trading! Best wishes, Jake
TVC:USOIL
by jmw2000
USOIL stable after the gap 🦐After the test of the lower support at the 66 level and the recent decision of several top producers led by Saudi Arabia to output cuts the price is back at the top of the previous range between 72-82. I can see the gap which has to be filled sooner or later but in this moment the target might be the upper level where a lot of liquidity stays. How can i approach this scenario? I will wait for a potential break of the resistance area and in that case i will move on the 4h chart to check for a nice entry according to the Plancton's strategy rules. If the price will move to the gap i will monitor the supports on the 4h time frame to identify a possible lower entry according to the MTB Strategy.
TVC:USOIL
by InkyGrip
6
ALGN - Will earnings be the catalyst?ALGN gapped up strongly on Earnings beat during its last earning on 1st Feb23. It then subsequently corrected and partially closed the gap, finding support eventually @ 297 the previous neckline region (now tuned support) and also right at the 38.2% fib retracement of the big recent upswing AB. Since it's last Earnings, the stock had been wedging in a range but what is clear is that the bogger trend is likley still on the upside as there was a Golden Cross that occured on 14 Feb (nearly 2 month ago) with both the 50 and 200 day MA sloping up now (mild slope for the 200 day MA as it will take a longer time to refect the new trend). Plus the fact that the stock has been holding above it's basing formation neckline. Any dip back towards the neckline region (297-303) could be an opportunity to long. I suspect the coming earnings expected on 26th April could provide the catalyst to propel it above this trianglle pattern. However, trade earnings at your own risk. If trade works out, I will be watching to scale out (partially) from 425 - 455, and manage the rest of the position with trailing stops. Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
NASDAQ:ALGNLong
by Juliac
USOIL on a hot level 🦐 After the test of the lower support at the 66 level and the recent decision of several top producers led by Saudi Arabia to output cuts the price is back at the top of the previous range between 72-82. I can see the gap which has to be filled sooner or later but in this moment the target might be the upper level where a lot of liquidity stays. How can i approach this scenario? I will wait for a potential break of the resistance area and in that case i will move on the 4h chart to check for a nice entry according to the Plancton's strategy rules. If the price will move to the gap i will monitor the supports on the 4h time frame to identify a possible lower entry according to the MTB Strategy.
TVC:USOIL
by InkyGrip
10
SE - Formed a BaseSE hit it's lowest point on 9 Nov22, several days before an earnings beat pushed gapedthe stock up strongly. However the rebound since had been volatile until another earnings beat on 7 Mar23 gapped the stock up strongly again, this time well above it's 200 day Moving Averae, and a Golden Cross materialised a few days later. The Gap that happened this time had remained unfilled since. The stock has clearly turned the corner. Looking to accumulate at this recent dip. However, more momentum might materialise only if and when the stock eventually is clear and stay above the neckline @ 92. Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
NYSE:SELong
by Juliac
EXPLAINED: Runaway GapLESSON OF THE DAY Runaway Gap A Runaway Gap is a continuation move where the price gaps in the middle of a trend e..g Up or Down. The gap is a void (where no prices overlap between two candles) And then the price follows the previous trend. I like to think of a Runaway Gap as a horse that goes from trotting to galloping. The trend then starts to accelerate and continue in the direction. Specifics for this example: · Previous price moves in a downtrend. · Price then gaps. · Price then follows the continuous downtrend. Please react so I know to provide more daily lessons...
JSE:PIKEducation
by Timonrosso
2
USOIL DailyPrice is nearing a key level zone that has acted as support & resistance previously multiple times. This key level zone also aligns with the 61.8 fibonacci retracement of the long term impulsive downside movement that took place. I am looking for price to make a move up into 82.50 where on the lower timeframe I will look for confirmation of a bearish reversal, as there is a gap that needs to be filled after opening higher this week. Definitely a setup I will be waiting on & watching closely for a big trade as Oil has had a lot of volatility & movement.
TVC:USOILShort
by Profound_Ambition
2
Bitcoin - All levels on the weekly chart (must know!) You can use these levels for your trades, because I am pretty sure we will see a reaction on all of them! These levels will be respected even on the 1-minute chart, so do not underestimate them! If one of these levels is destroyed, it's likely that the price will move to the next level specified on the chart. On the bullish side of the chart, we have a strong level that will be tested very soon. It's the POC of the previous market structure and a strong horizontal level at 29765. Above this level, there is an unfilled GAP between 37836 and 32399. This is the only major unfilled GAP on the Binance chart. These types of gaps are called fair value GAPS. 0.618 LOG SCALE FIB (38981) is definitely the strongest resistance out there. Also, we have a POC of the previous structure exactly at the same level. If the price gets to this level, we will experience a massive, brutal crash. Make sure you get informed when we reach this level, so follow me to stay updated! 0.618 LINEAR SCALE FIB (48553) is at confluence with the previous swing high. It's definitely a strong resistance as well, but if the bulls destroy this level, then it opens the gate to a new all-time high (69000), which is the last resistance! On the bearish side of the chart, there is only 1 strong level at this point, and it's the previous swing low at 15476. I think we will reach this level sometimes later this year or next year! 2 unfilled GAPs below the current price are also strong supports. They are between 22602 - 26508 and 17176 - 19549. I am telling you that these gaps are extremely massive, and the chances of filling them are soooooo high, sooner or later. If the bulls fail to hold the 15476 level, we will go to 10k! It's a possible scenario, and it could happen, and the chances are not low at all. Otherwise, this is a bearish Elliott Wave count, which is still my main count. Of course, I also have a bullish count, but I will switch to it after we reach levels above 43k. This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I post trade setups privately. Thank you, and for more ideas, hit "Like" and "Follow"!
by UnknownUnicorn2537518
60
Trade so easy with FAIR VALUE GAPS!Hello trader, you look great today! I have a useful trading tool to offer you. If you are experiencing positive feelings towards me, please consider following me and helping to increase my exposure. FAIR VOLUE GAP First, go to tradingview and search up Fair Volue Gap . Now, you can see your chart dashed lines, to see levels based on these pages. FVG and to make this set up a lot better though we want to clean this up and only show significant Fair Volue Gaps by going into the settings and selecting the auto threshold. What this does is allows the indicator to detect the average best size of each Fair Value Gap to filter out insignificant ones.
OANDA:XAUUSDEducation
by Sphyn-Trader
5
INTC - Breaking out of BaseINTC had been basing in sideway range between 24-31 since mid September 2022. It tested the neckline region between 30-31 at least 3 times and similarly the lower range between 24-25+ also 3 times (formed an imperfect triple bottom). Yesterday it gapped above the neckline on strong volume and in the process, managed to close above the 200 day MA for the first time in a year. It is likely that the stock is now slowly emerging from it's base and any dips in the near future, especially back towards the neckline @30 +/- could be an 2nd opportunity to accumulate. Expect to see the 200 day MA flattening out and a Golden Cross materialising in the coming weeks. Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Protect your trade with stop losses. Take care and Good Luck!
NASDAQ:INTCLong
by Juliac
5
SPX: Dangerous Top Sign Under a Major Resistance Level.• The SPX did a top sign yesterday, just after it hit its resistance at the purple trend line, which is connecting the previous tops; • What’s more, the index lost the 21 ema. It seems Futures are stabilizing, but the situation is still problematic; • In theory, if we don’t see a very strong bullish reaction, as soon as possible, the index would just keep correcting to the next support level, the 3,808; • There was a gap (yellow square), which was filled yesterday, making this a possible Exhaustion Gap after the quick rally that started on Mar 13; • So far, we don’t see any meaningful bullish reaction indicating that it will reverse, or at least reject the bearish sentiment; • In order to avoid a bearish continuation, the index would have to react and reject yesterday’s candlestick, breaking the purple trend line in process. It all depends on how it’ll react today. I’ll keep you updated on this. Remember to follow me to keep in touch with my daily analysis!
SP:SPX
by Nathan_The_Finance_Hydra
4
CRM - approaching neckline @ 195CRM had been basing for about 10 month now (since last May), the first sign that the worst could be over was when it broke above the 200 day movving average on 27 Jan, then a retest of this MA a month later on 27 Feb which validated the 200 day MA as the new "support". Several days later on 2nd Mar, it gapped up strongly on earnings beat, stopping right at a significant neckline around 195. Then proceeded to pullback and almost closing the entire gap in the coming days. While the stock has been staging a recovery since hitting the low in Dec last year, it also experienced steep pullbacks on the way up. Buying the dips would certainly had been a better option in this chopping conditions. Despite the volatility, what is clear however is that the stock is still on it's way to recovery, forming higher hi's (HH) and higher lo's (HL), with RSI staying at 50 or higher since early Jan, and a Golden Cross since 10 Mar. It could attempt to break the neckline @ 195 again in the coming days and if and when it is finally able to break and stay above this level, then we could (hopefully) see more a more steady rise with pullbacks that are less steep (ie within 50% fib retracement of each mini up swing). And the next target could be around 220. We can "predict" price targets but it is important to manage our risk with trailing stop losses and see what the market gives us. Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
NYSE:CRMLong
by Juliac
TSLA: Losing Momentum (For Now).• TSLA stock is stabilizing, trading between its key support and resistance levels; • The key support is the 38.2% Fibonacci’s Retracement again. Most of the time, when TSLA loses the 38.2% retracement after bouncing above it for a while (like in this case), the 61.8% retracement becomes the next target – usually it ignores the 50% when this happens; • What’s more, the 61.8% coincides with the Earnings Gap (blue square) at $146, making this area a very interesting target to work with; • In order to avoid such a bearish scenario, TSLA would have to react as soon as possible, and break its key resistance area around $187; • The $187 is the neckline of the H&S chart pattern that TSLA triggered last week, and it is very close to the 21 ema as well; • I’ll keep you updated on this. Remember to follow me to keep in touch with my daily analysis!
NASDAQ:TSLA
by Nathan_The_Finance_Hydra
4