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#AUDNZD Nice Bullish pattern!Price made a nice pull back and created a nice squeeze which can mean that is time a for the second touch of the bullish channel. If we will get daily hammer today I am pretty sure this will go up. Also, price reacted to strong Resistance ( 1.05275 ). Weekly hammer that price created couple weeks ago means that we are in bullish trend now so this setup has a very big chance to play out! In next week can see a little bit of a bearish action but next weekly candle should be green anyway.
Long
by Jakubaszek
S&P500 IT BubbleTaking a look at the IT sector of the S&P 500, we can see a some-what bubble formation. If you look back at the DotCom Bubble you will notice the same has developed ( High, High Low, High High) before tumbling down. Same as the Bitcoin Bubble. Now, going back to this chart it has currently formed that High, High Low and High High pattern exactly the same as the Dotcom and bitcoin bubbles did which leads me to believe, the IT industry crash is imminent. As tech gets more reliable, there are more and more people who need to buy less of it as their current technological device is reliable enough. Slowing the growth of the market before eventually dropping off. Any comments or criticism is welcome.
SP:S5INFTShort
by JamesEY
1
How accurate are TV volume data?Question for the more informed: how accurate is the volume profile(by price) and volume (by time) on Tradingview charts? (that's without purchasing extra data). It seems to me, thus far, that it is simply calculated off the candlesticks cause candlesticks alone can show volume buy their size alone. I heard before that data for FX, gold and oil are all not very "real" or accurate and have been trying to find out, so I've decided to reach out to the community and see what others know and are saying. Do you know where data like this is available and accurate? Thank you in advance!
OANDA:XAUUSD
by PLAINVI3W
2
EURUSD - Drilling down the Super Trend Greetings Fellow Traders - I've been getting many questions about where EURUSD is headed, when its going and how its going to get there. The answer is as complicated as you want it to be. There is quite a bit of waiting and patience involved in trading the currency markets, the post I made regarding EURUSD was in reference to what I called a Super Trend, a weekly time frame trade. Each Candle represents essentially 168 hours of time (120 hours if you're exclusively counting time that the markets are open). There is A LOT of time for smaller time frames to generate bullish or bearish opportunities while still maintaining the Super Trend I described. This post isn't really a trade opportunity but more a little bit of insight into how I start to look at my charts given my simple trade style. Here's what we know. 1.1070 and rising was a key resistance, this was the weekly candle close we had giving strong reason to be Bearish in the Super Trend, it is not a level to be ignored. 1.0900 area and rising is the last actual potential trend line we had to support the bulls on the higher time frames...The market reacted to it on first approach...do not ignore Since our initial break of 1.1070 we have not only made lower highs....but they are uniform, we can connect a line between them. Here is the 4 Hour Chart to illustrate those uniform lower highs: Nobody knows where the market is going to go 100%, we can just look at the charts and make the best educated and well informed decision. While we keep in mind the overall higher time frame Bearish Bias....ask yourself, what can happen that will keep this bias intact. A rise to 1.1100 and a bounce off the first trend line we broke would keep that bias complete. A sudden drop below/break of 1.09 levels would confirm Even minor sells to keep the uniform lower highs on 4 hour/1 hour charts would support the bearish bias Once a break of 1.09 is confirmed....there are no more supporting trend lines, only structural horizontal supports near 1.08-1.0840, and down closer to 1.05 and 1.06...Time will tell where we stop/if we do. There are a lot of tools and things to see while looking at the charts across multiple time frames. Keep everything relative, as the market continues to progress through time, try to see the forest for the trees and understand what the market's intentions are. Don't get caught in the middle, buy low and sell high all with good reason. I hope this post has helped and given some traders a little insight into how to look at the market progression.
by Synapse