Why I Shorted Silver In The Friday Asia Session
This is the 4HR chart for XAGUSD. I can see that price sold off on these 4HR candles and price has tried to retrace a series of times. But I see that price kept making a lower-high with each successive candles.
I did have a Short in Gold but not long ago I booked a profit. It is quite possible that Gold has further to fall especially if the USDX breaks above the 101.50 region which it could now at anytime.
Higherlows
Break down on technicals for Alibaba near historical lowsHi Guys. As always, heres a macro chart setup i've found to be a MUST WATCH, at the very least if not a potential long.
Analysis done on 1 week, indicating a macro analysis.
Alibaba (BABA), at current prices is roughly 75% from its blow off top in 2020.
Around October- November 2022, we tested support at the historical bottom and bounced to test the Resistance zone with a REJECTION.
Bringing us to our current price action where we have managed to maintain a HIGHER LOW.
This supports the idea that perhaps trend is shifting towards BABA wanting to move UP.
Notice also the Blue, Green and Purple Moving averages, Flattening out. This can be an indication that price is showing demand after moving averages moved down so much from the highs.
look for curve up in MA with crosses happening. This would be significantly supportive of probabilities we see Uptrend.
Essentially the order from top to bttom we want to see is:
1. Purple on top
2. Green next
3. Blue below that
4. Red below all
This is an indication of a Bull cycle. As you can see blatantly in previous history.
Notice also Volume which has been steadily increasing since 2019. Maintainence of Higher lows on Volume is also a good sign, that perhaps BABA may rally if we continue this volume trend.
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Thank you for taking the time to read my analysis. Hope it helped keep you informed. Please do support my ideas by boosting, following me and commenting. Thanks again.
Stay tuned for more updates on BABA in the near future.
If you have any questions, do reach out. Thank you again.
DISCLAIMER: This is not financial advice, i am not a financial advisor. The thoughts expressed in the posts are my opinion and for educational purposes. Do not use my ideas for the basis of your trading strategy, make sure to work out your own strategy and when trading always spend majority of your time on risk management strategy.
Arlo Macro Bullish Case + Ascending Channel trade setupHi Guys. As always im on the look out for Macro opportunities in assets with market structure or patterns that scream "Pay Attention to me".
One that stood out to me was ARLO.
This analysis is on the 1 week timeframe.
Notice the Orange rectangle. This zone is a MAJOR Support/ Resistance zone.
When Arlo went Public, we started ABOVE this zone.
Then made our way to the zone, attempted to maintain SUPPORT but eventually fell through and most of price action stayed Below the Zone since 2019.
We had many attempted to test the Zone and try to breakout with little to no luck in:
1. Feb 2021
2. Dec 2021
3. Feb 2022
4. July 2023
5. Sept 2023
UNTIL RECENTLY in March we made our way ABove this zone
We then came down to the bottom fo the zone and confirmed Support. With our current weeks candle up 11% indicating a BUllish Engulfing candle and MAJOR DEMAND.
I believe we are now on our way to test the Upper resistance limit of the Blue Ascending Channel that Arlo seems to be in.
After which we will attempt a Major Support test of the Zone.
Its also IMPORTANT to note, Above the zone, very little data exists. Meaning that theres very little resistance Above. This could fuel an extended Bull run for ARLO to New Highs.
But keep in mind specific signals or signs are needed.
Keep an eye for updates on further signs/ clues to take into consideration to help us make informed decisions!
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Thank you for taking the time to read my analysis. Hope it helped keep you informed. Please do support my ideas by boosting, following me and commenting. Thanks again.
Stay tuned for more updates on ARLO in the near future.
If you have any questions, do reach out. Thank you again.
DISCLAIMER: This is not financial advice, i am not a financial advisor. The thoughts expressed in the posts are my opinion and for educational purposes. Do not use my ideas for the basis of your trading strategy, make sure to work out your own strategy and when trading always spend majority of your time on risk management strategy.
Snowflake Ascending Channel bound, with upside potentialHi guys! So always looking for opportunities in repeating patterns/ macro developments.
SNowflake (SNOW) particularly stuck out.
This analysis is conducted in the 1 day timeframe.
Since June 2022, SNOW has been in a Ascending Channel with consistent Higher low prints.
This shows a reoccuring pattern of everytime we've made our way to the bottom of the channel to test Support, we've had bounces to the Upside.
We've had roughly 4 major moves highlighted with returns ranging from 40% to 80%.
We have in April made our way back to test Suppport on this channel.
Currently up roughly 10%.
We are also Above the 21 EMA, maintaining Support.
This is also a reoccuring sign of a rally to the upside.
Currently our 21 EMA is curving to the upside. The rallies that have occured in the past from touching the support line of channel have shown this sign as well.
FOllowed by a Golden cross, where 21 EMA maintains its position above 50 SMA.
Look for this signal to appear.
There is also potential for another test of Support on the lower border of channel. Keep this in mind as it is seen when you look at the previous data.
Remember it is bad practice to trade using a single indicator or tool. Always try to find overlap of signals. Look to updates ont his idea for more evidence to make informed decisions.
__________________________________________________________________________________
Thank you for taking the time to read my analysis. Hope it helped keep you informed. Please do support my ideas by boosting, following me and commenting. Thanks again.
Stay tuned for more updates on SNOW in the near future.
If you have any questions, do reach out. Thank you again.
DISCLAIMER: This is not financial advice, i am not a financial advisor. The thoughts expressed in the posts are my opinion and for educational purposes. Do not use my ideas for the basis of your trading strategy, make sure to work out your own strategy and when trading always spend majority of your time on risk management strategy.
NIFTY DAILY - 19/3/2024Nifty open with huge gap down and bear took control of it and made low of the day that is 21793 level.
Index has broke consolidation line and higher high higher low pattern.
Nifty has formed a big red body candle with upper and lower shadows.
Nifty has given closing below 22831 level which was its support level so, 21667 level will work as next support level and 21906 will work as resistance level.
Today’s Advance Decline ratio of NIFTY50
Advance - 9
Decline - 41
FII Buy + 1421.48 crore
DII Buy + 7449.48 crore.
⚠️ Important: Always maintain your Risk & Reward Ratio.
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Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes.
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Happy learning with trading. Cheers!🥂
DXCM - bottom fishing (swing trade)DXCM had been essentially a range bound stock in the past 3 years, forming what is potentially a long term head & shoulders formation (bearish if break down). However, it looks like the odds of breaking down has diminished with a bullish monthly pin bar now forming after finding support at its 88.6% fib retracement (imperfect double bottom).
The stock is still below its 200 day MA but this MA is less relevant for a stock that is just ranging sideways for the past few years. It can still be a good candidate for swing trade due to its wide range.
The daily chart is starting to exhibit reversal patterns with higher highs (HH) and higher lows (HL). The recent earnings gap up on huge volume was a good catalyst. And the subsequent pullback to almost close the gap (and today's "bullish harami" to signify potential rebound) provided an opportunity to long at lower risk.
Ready to test a small long position with initial stop loss just under $83.50 (allowing for gap fill that might still stand a small chance of happening IMO)
Disclaimer:
This is just my own analysis and opinion for discussion and is 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 (ie trailing stop loss and position sizing) is (probably the most) important!
Take care and Good Luck!
JBL- on the reboundFrom mid July till now, SPX and NQ had been undergoing corrections resulting in lower highs (LH) and lower lows (LL). Although there is a chance the correction in SPX could be over, we can never be sure until it manages a higher high (HH) at least.
JBL on the other hand, has demonstrated good relative strength to the market, eking out higher highs (HH) and higher lows (HL) despite the broader market correction. This type of stock has a higher odd to out perform the market for the longer run.
It appears to be finding support at the 61.8% fib retracement of its recent AB upswing, supported by a bullish divergence between it's price and RSI.
Going long with an initial stop about $1 below its recent pivot low @ C ($119).
Trail stops up when trade is working out.
Disclaimer:
This is just my own analysis and opinion for discussion and is 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 (ie trailing stop loss and position sizing) is (probably the most) important!
Take care and Good Luck!
COSMOFIRST-WEEKLY-LONG TRADENSE:COSMOFIRST
Stock is showing strength in weekly timeframe. As we can see Stock is not able trade below previos lows.
This week it has shown a strong green candle with "W" pattern.
I believe it is a good time to go long with 605-610 which will be around 5% or so.
Please note that "This is only for educational purpose, please manage your risk accordingly."
MARICO- Daily/Hourly Timeframe-Bearish patternStock is looking weak in daily time frame. From past few days it’s not able to cross it’s previous swing in daily time frame. It’s at crucial level 520-523. It has bounced multiple times from this lvl.
However, if this lvl breaks on 30th June it will be good opportunity to go short.
Please make sure there should be a bearish price action in 5/15minute time frame for intraday trades.
This is only for educational purpose, please manage your risk accordingly.
LONG run in Adidas📈I've placed a limit buy in this market because:
the long-term descending trendline was been broken
we have a bullish seasonality for Adidas
the price has broken above the 30's SMA
the price has broken above the prior swing high
the price has formed now a sequence of higher highs and higher lows (= bullish trend)
bitcoin fractal zoom out againI have strong feeling for bitcoin to break out from here... that said, lets aknowledge previous instantiations of this fractal
just within our recent price history suggests we can get a dip before ascending, instead of following the most recent odd ball that breaks up first
PG: Can we breakout?Procter and Gamble Co -
Short Term - We look to Buy a break of 148.20 (stop at 142.08)
The trend of higher lows is located at 138.75. This is positive for sentiment and the uptrend has potential to return. We are trading within a Bullish Ascending Triangle formation. A clear break of 148.00 and we would look for further gains to 163.00.
Our profit targets will be 162.98 and 172.00
Resistance: 163.00 / 172.00 / 180.00
Support: 140.00 / 130.00 / 120.00
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JasmyCoin: Descending Triangle But The Price Action Is BullishJasmy has bottomed 3 times within this inheritly Bearish Pattern while Bullishly Diverging each time with the 3rd bottom putting in a slghtly higher low and it is now broken above the supply line here and may look to Square-Up to the upside so long as it holds above the nearby Moving Averages on the Daily.
Bottoming Patterns with Rising LowsThis bottoming pattern shows retests of the lows and how, over time, the lows of the retests start to rise. This tends to be a footprint of Dark Pools quietly accumulating over time.
CRM has recently added Artificial Intelligence to its software to promote and sell more of its customer management software solutions to mid-sized businesses.
BTC QUICK UPDATE! MIGHT SEE $38K SOON!!Hello everyone, if you like the idea, do not forget to support with a like and follow.
Welcome to this BTC update.
BTC is trading inside descending channel in a 10hr time frame. In this channel, we see that BTC is forming Higher lows and lower lows. So from here, we might test a new LL which is around $35k.
After hitting that new LL we might see a relief rally which will take us to $38k. If daily close above $38k then we again see a bullish rally otherwise there is a high chance that we reject from $38k. Let's see how it goes.
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BTCUSDT needs to create the new Higher high!
the price bounced on the 33k area on the monthly support and got the liquidity until the 0.382 Fibonacci level as new resistance.
On the weekly timeframe, the price is testing the dynamic support.
On the daily timeframe, the price had a breakout from the dynamic support and now the price is testing the previous support as new resistance.
On the 4h timeframe the price had a breakout from the falling wedge and now it's trying to create a new higher high.
How we can approach it?
For a bullish scenario, the price needs to create a new higher high from that area above the 0.5 Fibonacci level (41k) with volume and momentum.
IF the price is going to lose the 4h support we could see a new bearish impulse until the next demand zone