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SPX Shortsqueeze Fiesta? My long trade.Hi traders! SPY / SPX is at all-time highs and traders are beginning to short. As we have seen in the Ethereum run-up, this behavior can lead to a short-squeeze fiesta. Ironically, more shorts lead to higher highs, until the very top - from where price finally breaks down for good. Have we made the top? We don't know, so we can focus on smaller timeframes and take one trade at a time. What is happening? On the 4h we see a difficult formation that is interpreted by many analysts as an ABC correction of the downtrend. However, on the subwave we see a slight violation of the wave C ratio. We can now assume that we might be in a wave 3 of 5, and pre-market price confirms this bias. Where do we go from here? If price goes higher, my assumption is that SPY will reach target 1 or target 2, which I have marked with a red box. How to trade it? A short from target 1 or 2 can be an opportunity for a scalp. Assuming that we are in a wave 5, it is safer to long. If price reverses on target 1, the green box (.382 fib reversal) presents an interesting level, assuming that the corrective subwave 4 is similar in magnitude to subwave 2. Should price reverse from target 2, we can easily derive an entry with a new fib pull, looking for the deepest possible level (.5 fib). What if not? If price breaks down from here, we can assume that the downtrend is intact and start looking for pullbacks to short into the trend. In that case we are in a motive wave 1 down and short once wave 2 has retraced. Happy trading!
AMEX:SPYLong
by UnknownUnicorn12250317
DXY Long Setup USD Relief Rally The dollar has been under some pressure and now I think we will see a reverse in trend towards the upside . I have drawn the obvious head and shoulders with the right shoulder to possibly develop. In which case I favour a move upwards towards the 91 area which will build our right shoulder . This in turn will put pressure on Gold prices * See below for my gold short analysis * . Follow and Like for Daily analysis and setups Know your Invalidation and use a SL .
TVC:DXYLong
by SJTRADESFUTURES
2
IndiaBulls Housing Finance can explode on Daily - 75-100% upsideIndiaBulls Housing Finance looks bullish on daily with huge potential upside both from Technical point of view and also based on fundamentals. Fundamentals: ============ The company said in a statement that it will gradually reduce its wholesale book by 33% by March 2022. According to the company, it is also planning to double the retail customer base by March 2025 and said that retail loan disbursals have picked up on the back of rising sale house sales. The lender reported a consolidated net profit of ₹329 crore in the three months to December, down 39.7% on the back of lower income. Its gross non-performing assets (NPAs) stood at 1.75% of gross advances. Had it not been for the Indian Supreme Court’s dispensation on asset classification, gross bad loan ratio would have reached 2.44% as on 31 December. Also, it has restructured 0.95% of its loan assets and its collection efficiency has now reached around 98%. Technicals: ========= The price has tested 0.117 Fib resistance a few times and is showing strong bull power on lower time frames to breach this resistance which will propel the price to 0.236 Fib resistance at around ₹ 400. Also, the Support/Resistance bands are squeezing and turning around showing some strong potential price move to the upside with the extreme top bands coinciding with the 0.236 Fib resistance where the Daily price will have its first test. Breaching this 0.236 resistance level, a big move can be expected to 0.382-0.618 (₹ 600 - 900 range) levels test, given the company hits its fundamental stakeholder expectations and its commitments. The following 4hr chart shows price testing the top resistance bands and a big move is likely upon breach =================================================================================================================== Do Your Own Research on Company fundamentals to get a good idea and its future potential.
ILong
by TradeChartist
7
Upside PA if it breaks the pennant Matic has been doing well for the past few days. For continuation it has to break this pennant. Sky is the limit if this breaks out. In my opinion, Matic still got a long way to go - Gains are not done yet from this one. Matic is a coin that is known for its explosiveness, and the crash that comes with it. But that's all hype, and we will let the time decide. Trade this safe. Everything is bullish atm... So no surprise if this breaks out. In these market conditions, one can buy even before the breakout, but that is not recommended due to the risk that follows. Buy at own your own will.
MLong
by MBM_Crypto
COMP/USDT potential +48% trade setupHello, Traders! After the dump, the price of COMP returned to the active trading range of $89.83 - $99.22. The price has now entered an uptrend after collecting the liquidity of buyers. The price is supported by the MA100 on 4H timeframe. A low-risk trade can be considered after the price is fixed above $99.22 after its retest. The targets will be at $110 - $117 - $125 - $147 levels. SL can be set at $93. In this scenario, you get a trade with the potential profit of up to +48% with a stoploss at the level of -5% with the risk-reward ratio being more than 9! Watch out for the market and good luck! Please share your thoughts on the setup in the comments below P.S. This is not investment advice, just a trade I would be following myself
Long
by UnknownUnicorn10064030
5
AUDJPY Buying Signal In our previous post we spotted a higher probability selling opportunity on AUDJPY. Since then we have seen in the price action a potential intra-day buying opportunity with a similar convergence of factors. As you can see from the 15 Minute chart, price came all the way down from the 75.00 level and reached the 74.00 level. In general AUDJPY loves the big figure (double zero) levels so we want to see how price reacts when these levels are reached. What we saw was a bullish 3 drive pattern complete right at the 74.00 level, this level in general has an increased probability of order flow resting there because its a round number and the pattern can indicate potential price exhaustion especially since it has already moved over 100 pips from the highs. To increase our confidence, confirmation and probability for any trade we want to locate as many factors that all line up to give you the same reason to execute. In this case once price rejected at the 74.00 level and we saw a bullish price pattern complete. The last factor we want to see is a higher inner trend line break to the upside as this can help confirm the pattern and also clearly show you a precise execution point. As we are trading the pattern we do not have to place a stop loss too far below the 3rd drive and the 74.00 level, while we can also look target 74.50 in the short term as there is not a lot of resistance until this area.
Education
by DavidVillagra
USDJPY: LONG TRADE SETUPPrice reversed sharply sometime last week from a weekly historical support which as held strongly for some number of years now, Bullish momentum is going pretty well for USDJPY but i expect this bullish momentum to slow down as price approaches the next resistance ahead which is at 112. This zone as been holding nicely since April 2019, Could it hold this time around with the strong bullish momentum ? or would sellers hold their resistance zone ? Time would tell ! Risk Warning : The risk of loss in trading Foreign Exchange (FOREX) can be substantial. You should therefore carefully consider whether trading is suitable for you in the light of your financial condition. Goodluck !
Long
by Tim298
3