Highs
Say hello to fresh all-time closing highs for EthereumFresh all-time closing highs for Ethereum after a nice high tight week of consolidation. Large range bar, Bollinger Bands expanding, and a network that's jammed with activity (thanks SHIB). Looking good for more.
Solana Price Analysis: Breaks to All-Time High Solana (SOL/USD) the 10th-largest cryptocurrency by market capitalization, with a total market cap of over $21 billion reached a new all-time high of $81.97. The rally is showing signs of a slow down after it rallied more than 120% since the beginning of the month.
Equal Waves Pattern
From a technical perspective, SOL/USD has rallied in a three wave pattern from the low of $1.27. According to the Elliott Wave theory, the magnitude of wave A should be equal to the magnitude of wave C.
To find the possible end of wave C, the Fibonacci extension tool can be used to project wave C which can be 100% Fib extension of wave A and B. In our case, the 100% Fibonacci extension comes in at $76.64, which is exactly near the levels were the rally has started to lose steam.
To the downside, possible support areas come in at the end of wave A of $58.92 followed by $41.0. On the flips side if the current rally wants to extend more, we have the 1.272 Fibonacci extensions at $92.33 and 1.618 Fibonacci extensions that come at $112.27.
Elliott Wave Analysis: SP500 Is Nearing 2018 Highs In Gold PriceHello traders and investors!
Today we will talk about stocks, specifically S&500 against GOLD (SPX/GOLD ratio chart), in which we see an interesting development we want to share.
As you can see, stocks remain in the strong uptrend and there can be room for more gains, we just have to be aware of another, higher degree correction as S&P500 is approaching 2018 highs in gold price, clearly for the 5th wave. We know that after every five waves, a three-wave correction follows, so be aware of limited gains on stocks, while GOLD may find the support soon.
Of course, it's a weekly chart and there's still room for slightly higher levels to break into 2018 highs, so it may take some time before we will see a change in the trend, ideally till the end of summer.
Be humble and trade smart!
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Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
PYPL looking to break all-time-highs?PYPL made a new all-time-high in February of 2021 and now it's looking to make new all-time-highs.
Fundamentally:
* Sales growth quarter over quarter is more than 30%
* Earnings-per-share expected to grow +5% over the next year
Technically:
* Beta score of over 1
* General up-trend
* In rage from year-to-date
* Found new support at $289.46
* Steady volume as it makes new support
Trade Idea:
* Look for buying opportunities near its new support of $289.46
* A break below that, $277.87 should hold as support since it's acting a pivot
OR
* Wait for a weekly close above $309.14 to confirm the break
Gold forecast for the 12.07.2021Hey Folks,
As you can see from my chart, I use the EW-theory to forecast. In the case of gold, I assume that the correction has ended after the sharp rise of the last few days. This is an extended flat correction in which the required parameters have been perfectly confirmed. In fact, I assumed such a correction in advance because the momentum was heavily on the bull side and in these cases an unusual correction can be standard. Assuming the correction is done, I expect clear buy signals towards new short-term highs at the beginning of the Asia session, which should then move towards 1824 before the first resistance becomes noticeable. From a fundamental point of view, nothing should stand in the way of this. That said, have a successful week! I am looking forward to your feedback.
Greetings,
Raffa
FAST trying to make new all-time-highsFAST is trying to break through and close above its recent all-time-high of $54.31.
Good news is that it's holding its previous all-time-high of $51.89 as support.
With buying pressure slowing down it may come back down to retest the $52.50 to $53.10 area as support before making another attempt at breaking and closing above $54.31
Final thoughts
* Strong up trending stock
* Expected to have earnings-per-share growth over the coming year
* Great long term hold as it pays dividends
Trade Idea
* Look for buying opportunities around the $52.50 to $53.10 area
OR
* Wait for a confirm break and close above $54.30
BITCOIN BUY ZONE - CONSOLIDATION FOR NEW HIGHSThe Purple Box is the consolidation zone. This is my buy zone. I think from here we will go to ATH in the next weeks or months. As long as we ain't breaking it to the downside- it's not invalidated.
We can also see the RSI bullish divergence on Daily timeframe. That is a powerful sign that often indicates strong move to the upside.
Copper Heads for the Highs
A late February peak runs out of steam and makes a comeback
LME and COMEX stocks rise
Inventories can be a mirage
Goldman Sachs makes a bullish call- Three reasons for higher copper prices
Heading for new high- Copper could go parabolic
In March 2020, nearby COMEX copper futures traded to the lowest price since June 2016, when it reached a bottom at $2.0595 per pound. In February 2021, the price traded at a decade high at $4.3630 on the continuous contract. Copper fell during the height of the global pandemic’s impact on markets across all asset classes. The price moved from a four-year low to a ten-year high in a little less than one year.
The trend in copper is higher, and we could be on the verge of a move to prices above the 2011 $4.6495 peak. Copper is a building block of infrastructure worldwide, but it is also a metal with many industrial applications.
A late February peak runs out of steam and makes a comeback
The trend of higher lows and higher highs in the copper futures market remained intact at the end of last week.
After reached a continuous contract peak at $4.3630 in late February, the highest price in a decade, copper pulled back below the $4 level, reaching $3.8760 in early March. Since then, the price has been climbing and was back above the $4.33 level at the end of last week. Open interest, the total number of open long and short positions in the COMEX copper market moved from a low of under 162,000 contracts in May 2020 when copper’s price was under $2.40 per pound to the 247,572 level at the end of last week with May copper futures settling at $4.3360. Rising price and increasing open interest is a technical validation of a bullish trend in a futures market. Weekly price momentum and relative strength indicators were well above neutral readings and rising. Weekly historical volatility at 18.76% indicates the bullish trend is slow and steady. The metric reached a high of over 37% in May 2020.
Copper backed off from the February decade-high peak, but the price came storming back and is now a stone’s throw away from an even higher high.
The semiannual chart shows dating back to 1988 illustrates the all-time high came in 2011 at $4.6495, only 31.35 cents above the closing price on April 23.
Heading for new high- Copper could go parabolic
Copper was below the 2011 high on Friday, April 23. The LME price was under $10,000 per ton. Goldman Sachs’ forecast is for $11,000 per ton in the next twelve months. However, as “copper is the new oil,” the longer-term price expectations are far higher as they see demand rising much faster than supplies. Goldman sees copper at $14,000 per ton in 2024 and $15,000 per ton in 2025, over 50% higher than the current price approaching the 2011 high.
Bear markets often take prices far below where logic dictates. If you have any doubt, look at an oil chart from April 20, 2020, when NYMEX futures fell to the negative $40.32 per barrel level during a tidal wave of selling. Bull markets have a habit of moving to levels that are far higher than analysts expect when a buying frenzy creates parabolic moves. Lumber was at $251.51 per 1,000 board feet in April 2020 and moved nearly five and one-half times higher at the recent $1374.70 level. Copper is not the only commodity rallying these days. Grain prices experienced explosive gains last week. Palladium, a thinly traded precious metal, rose to a new record high at $2928 per ounce last Friday.
Copper has bullish winds behind its sails from a fundamental and technical perspective. The red metal looks set to climb to new heights as the copper bull market appears firmly intact. When markets trend, picking a top can be a tragic mistake. Sit back and enjoy the ride, even though it could become bumpy. The risk of corrections rises with prices in bull markets.
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Trading advice given in this communication, if any, is based on information taken from trades and statistical services and other sources that we believe are reliable. The author does not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects the author’s good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice the author provides will result in profitable trades. There is risk of loss in all futures and options trading.
Price taking at $57- April Target $68Oil experienced a small retrace following the aggressive high being formed March 7th on open. Tapping some of the key levels I projected in my last post there is definitely possibility for a reversion back to highs as the near term demand continues to increase. Summer is fast approaching and with an infrastructure bill being presented this week the oil and gas industry could see some strong bids. My view with current sanctions and policy, below 57 could serve as a discount pricing for the month of April with 52 potentially serving as a more defined floor.
GBP/USD ! Close to 3 years highs !!! Interesting sell zone !At the moment, the GBP / USD currency pair is trading near historical highs of a 3-year period, which may indicate an increase in the activity of sellers and a further decline in prices. If you are looking for a place to sell GBP / USD for the medium term, this is an interesting area.
Gold Longs / Charts flipped Calling longs ahead of NFP tomorrow. Pretty controversial for the retail industry, but my mind works different... And I have a diff edge in this market. Don't trust me? Im I a crazy as* mf ? Maybe ... But if you want to win im urging you to go long... IF you want to get wacked keep selling your trend based on your shitty mainstream information. Anyways good Luck. Hold into the prev year highs if you want but you need some strong balls to do that, im doing it... as my profile says im a investor not a retail day trader. Lets make the bag babyyyy
LI BreakoutLI has been moving up with the other EVs -XPEV, NIO, and recently had a PT upgrade to 44. Im looking to take some Feb calls for a move back to the highs
CADCHF Long/buyPossible trend continuation long setup. Take the trade if you see a curve with a double bottom. Avoid if right side looks like a re-test of trend line. Usually a sell if that happens. Usually a very big sell.
Silvers ambitional but realistic April TargetCompleting the bull flag on silver should give us a great run up to test old highs!
Bitcoin is close to a decision point!Hello everyone,
Bitcoin has seen a fantastic rally over the last months. We've managed to reach all the way to the all-time highs.
There hasn't been any serious pullback yet.
I've found a bearish divergence on the daily timeframe in the RSi and a rising wedge pattern.
The target of the rising wedge is calculated by the height of the wedge, so around 16200.
If the rising wedge is to complete, we will see one more pump towards 20k and then a real pullback will start.
However, that being said, if bitcoin manages to clearly pump above 20200 and actually closes there, I think much higher prices are in play.
Thanks for reading my analysis,
Goodluck!
analysis EUHello traders, as you can see, the candles rejected the support below which now we could be looking for retest buy entries to that target point. Thanks for reading!
WHERE DO WE STAND WITH GBPUSD??I felt like posting this so that some of the traders on here can see where we are in terms of the quarters of the year. Its important to see this because around yearly, monthly, weekly, and daily highs and lows those prices are sensitive! We can see that the market ran out the high that was created in the beginning of the first quarter and dropped. As of now. I have my bias for GU for this upcoming week I will post it in a few moments. I recommend traders mark up there charts like this it's helpful to know where you stand in terms of quarters and so on. Enjoy.
AUDNZD on recent highs 🦐AUDNZD on the weekly chart has recently broke the descending channel that kept the trend since october 2017.
On the daily chart the market, after the move till the upper trendline of the channel, retraced slowly creating a falling wedge.
Currently the market found resistance on the recent highs structure and we could expect the market to consolidate before a break to the upside.
If the price will break and close above the daily structure we can set a nice long order according with our strategy.
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Follow the Shrimp 🦐
Here is the Plancton0618 technical analysis, please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of Plancton0618 strategy will trigger.
