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Back above the 1 day 50ma & the mid channel trendline!We have just followed up a 1 day chart higher low with a higher high which is also a good recipe for a bullish trend reversal. Need to see a follow up additional higher low from here now to really set it in stone but it’s very possible we go all the way up to test the 1 day 200ma (in blue) before that correction down to the next higher low. The target for finally breaking above the mid channel trendline (in yellow) is the top of the channel to test the descending channel’s green top trendline. Wouldn’t surprise me if we retesting the 1 day 200ma at the same point we test the top trendline of the channel around 44k then get rejected back down for a higher low (maybe to retest the middle channel yellow trendline one last time as solidified support before finally breaking out of the entire channel). Of course there’s no guarantee of that retest it could just decide to go parabolic and blast past the channel’s top trendline upon the first retest. However odds favor an initial rejection if that trendline is double reinforced resistance with the 1 day 200ma (in blue) overlapping it. Always a chance we could see a slight correction on the way up to that top trendline first though and achieve the follow up higher low before even testing it, in which case we could correct as low as the mid channel yellow trendline imo. All in all, having this turn around occur right after amazon finally admits it’s exploring crypto for payments which we all knew they were going to eventually do, is enough of a bullish excuse to send it flying so the correction could very easily be over. I’m leaning bullish in the slightly more macro short term.Stillw ant to see that follow up higher low first though.
COINBASE:BTCUSDLong
by DrDovetail
REACCUMULATION ON NETFLIX!Hello my beauties. It seems that Netflix has entered and completed a reaccumulation phase. This is normally deduced from the higher highs the price creates. Its tendency to rise throughout the range without providing a SOW (sign of weakness) indicates strong interest in buying the dips. If you find this idea to be helpful like, follow, and drop a comment below if you'd want me to analyse a different pair. Consider supporting me if you think I am providing you with value. Peace. Luca, TrickleDownFX
NASDAQ:NFLXLong
by TrickleDownFX
Market Structure | Impulse/CorrectionsMarket Structure | Impulse & Corrections 🎡😈 What is Market Structure? Market structure is a trend-following technique that traders use to read and track how the price moves. Bullish moves, bearish moves, and ranges in between Market structure is also known as price action at times. As a result, we call it market structure since that is how the entire market moves. How to identify Market Structure? Wait for a swing high/low to be broken. (candle-stick body must close above swing high/low) What is Market Structure telling us? in a Up-trend scenario, higher-lows will provide in a Down-trend scenario, high-highs will provide What is impulse/corrections? The natural behavior of the Market. What is correction? When price is in a ranging or sideways market. What is a impulse? The point when price impulsively breaks out of the correction How to use Impulse/Corrections? to identify which phase we are in, and what to expect next. Summary: Market structure is the guidance to a trade setup, failing to identify market structure will lead to many unnecessary losses and an overall bad analysis. Every trade consist of few things such as.. The first step to a trade is analysis which requires market structure in order to do so. Very simple rules to follow.. BUY LOW - SELL HIGH 🎡
OANDA:XAUUSDEducation
by FlyDownX
20
AMD: Is it a good time to buy?Hello my friends! Let’s how AMD is doing today! First, in the 1h chart, it is in a bull trend again, as we have higher highs/lows. The first pivot point triggered was at $ 109.77, and we have a second one that has yet to be triggered at $ 111.70. We are above the 21 ema again, and everything looks bullish from here. Let’s look for more clues in the daily chart: Yes, AMD just did a pullback to the area between the 38.2 and 50% Fibonacci’s Retracements and it is reacting nicely. I would prefer to see it at the 21 ema, and there’s still a good chance that we’ll see this happening. If we drop below the 38.2% retracement level again, I see a sideways correction on AMD, something like AAPL is doing. A sideways correction is the healthiest movement on AMD, in my view, but if it triggers the pivot point in the 1h chart again, and if it keeps above the 21 ema, probably we’ll see a retest of the ATH, and then we’ll see how to proceed. During the pullback seen in past few days, we see that the volume is decreasing, indicating that this is just a healthy pullback, not necessarily a sell-off. That’s one of the reasons why I don’t see AMD reversing the trend in any level. In the worst-case scenario, I see an annoying congestion. In the perfect world, we would retest the 61.8% retracement, but I’m not counting on that. Personally, I would only buy it if we get closer to the 21 ema. AMD is a great stock, but I see better opportunities around. Maybe if I had a portfolio of 50 stocks, I would buy AMD right now, but that’s not the case. If you liked this analysis, remember to follow me to keep in touch with my daily studies. Have a good weekend.
NASDAQ:AMD
by Nathan_The_Finance_Hydra
10
Is the Bearish Trend still Possible??Considering the Bearish Trend which created a LLs and LHs inside the Ellipses, we saw an invalidation through the channel which tried to create a HHs and HLs but then the ZONE from the HH was a SUPPORT AREA which we saw a consolidation and a break below, the Break-out was also a consolidation which we were expecting a break either above or below but the certainty was a SELL OFF because we needed to observe the previous price action to determine what to expect ahead. Price has now invalidate the channel up and a break below the ZONE Area. I am anticipating a continuation of the DOWN-TREND because the recent HH is a Swing High and were we have an invalidation of the recent HL as a Swing Low. From the the Fibbonnaci we have seen a correction of 50% towards the Resistance Area, a Bearish Engulfing has been confirmed at the Resistance Area which a SELL OFF is possible and likely to resume a LH and a LL...
Short
by MII1502
3
NOCIL for solid returnsNocil looks great on all the time frames, though it is trading near its all-time high, the price structure looks quite positive on higher to lower timeframes. Now if the stock sustains 200 levels on the daily timeframe, it could move fast towards its all-time high i.e 236 levels. For swing traders SL can be kept below, 200 levels. For Positional trading, Sl is a little far, but it worth it, because of current and previous price action, suggesting that it could go beyond its all-time high if it sustains 180 levels on its weekly timeframe. The post is for educational purposes, if you are trading this, you are trading at your own risk. This is my view/analysis on NOCIL, do let me know, what's your view on the stock.
NSE:NOCILLong
by manuagarwal21