PLTR trades on the high end of its rangePLTR shows the recent rally could be reversing soon
Currently trades high within its range
If stock breaks above its upward trend that would be a great time to get out
Volume consistently decreases as price increases, this create disagreement in the trend
RSI also shows divergence by declining as the price increases
We should expect PLTR to sell back down to lower point staying within its trading range to the low $30 range.
M-oscillator
SPELL Did 50X in 3 Month in 2021, Can It Repeat This Move?In 2021 the token started trading in the final phase of the bull cycle so it's unlikely to be that fast, but who knows?
Anyway, it's a pretty good token to hold in the following months and the picture is very similar to my FIDA post. Price action holding support on an important level, stable weekly RSI moving sideways.
SPELL/BTC ratio is in a falling wedge and looks ready for a reversal (breakout not confirmed yet):
Max target: $0.029.
$SPY 14, September 2024AMEX:SPY 14, September 2024
Weekend views.
Uptrend confirmed.
I will be worried only if 510 is broken as of now.
On daily my target is 580 levels initially.
This is derived from 1.5 times extension for the move 348 to 459 to 409 levels.
On Monday if AMEX:SPY is able to cross 564-565 levels and hold for at least one hour we can see a big move towards 580 in few days.
Now holding 555-557 is crucial for next uptrend.
In 15 minutes for the last rise 556.53 to 563.03 it is important to hold 559-560 levels.
If 559 is broken, then we will have another multiple tops around 563 and hence can expect some sideways between 554 to 560 to converge the moving averages.
Not the time to short in any time frame. As of now.
STARKNET long setup - BINANCE:STRKUSDT
COINBASE:STRKUSD
Hello Traders
💥Long position on STARKNET
SL1 ---> Low-risk status: 3x-4x Leverage
SL2 ---> Mid-risk status: 5x-8x Leverage
👾The setup is active but expect the uncertain phase as well.
➡️Entry Area:
Yellow zone
⚡️TP:
0.402
0.405
0.410
0.413
0.419
🔴SL:
0.382
🧐The Alternate scenario:
If the price stabilizes below the trigger zone, the setup will be cancelled.
Solana Name Service (FIDA) — a 45x opportunityNote that the project was previously known as Bonfida but renamed to Solana Name Service.
Price action has been building some structure on an important support level since July.
Weekly RSI has stabilized at 40 and is moving sideways.
Falling wedge breakout against Bitcoin:
Max target is at $10 which gives up to 4500% potential.
Also, since it's a Solana ecosystem project, it gives indirect exposure to Solana which is a great thing considering all the hype around it.
Like the idea? Boost it!
Have an opinion? Leave a comment!
$SPY September 13, 2024AMEX:SPY September 13, 2024
30 Minutes
We achieved near 560 levels as expected.
Now for the rise 539.95 to 559.38 holding 554-555; levels we have a target 564-566 levels.
I am expecting good moves next week, if today at close moving averages line up nicely.
I still expect 563-566 levels to provide strong resistance. We have multiple tops in that ara in all time frames.
AUD/USD set to make assault on downtrend resistance AUD/USD looks set to make an assault on downtrend resistance dating back to August 29, building momentum after Wednesday’s bullish engulfing candle sent the pair careening above the important 50-day moving average. However, while RSI (14) has broken its downtrend the bullish signal has yet to be confirmed by MACD, suggesting now is decent time to let the price action tell you what to do. The bias is higher but the risk-reward is not compelling on the daily timeframe.
If the price manages to break and close above the downtrend, it will allow traders to establish longs with a stop below the level for protection. The price has done a lot of work either side of .6750 recently, making that an important level to overcome to open the door for a push towards the recent highs at .6825.
Alternatively, if the price is rejected at the downtrend, you could sell with a stop above for protection. Possible targets include .66857, the 50DMA and Wednesday’s low (and the 200DMA) around .6620.
Good luck!
DS
How I Use Multi Timeframe Analysis to Capture LARGE Price SwingsDISCLAIMER: This is not trade advice. Trading involves real risk. Do your own due diligence.
TUTORIAL:
Today, I demonstrate the thought process and mechanical steps I take when trading my Multi-Timeframe strategy. We take a look at US Treasuries, which have offers a classic lesson in how to apply this approach.
As you will see, throughout the year, this approach took some losses prior to getting involved in the "real" move which we anticipated. No strategy is perfect, and I do not purport this to be perfect. It is a rules based and effective way to read price. This strategy is great for people who don't have a lot of time to spend at the charts. I would classify this more as an "investing" strategy when utilizing the 12M-2W-12H timeframe.
If you have questions about anything in this video, feel free to shoot me a message.
I hope you have all had a great week so far.
Good Luck & Good Trading.
Semiconductors and the Long-Term TrendChip stocks have been climbing since early last year. Now, after a healthy pullback, some traders may look for the longer-term uptrend to continue.
The first pattern on today’s chart of the Philadelphia Semiconductor Index is the rising 200-day simple moving average (SMA). SOX bounced at this SMA in late 2023 and again last month. The most recent price action suggests it may remain support.
Second, August’s low occurred near April’s trough. The level was above any level seen in any previous year, which may suggest new support has been established in new record territory.
Third, stochastics are rebounding from an oversold condition. Other similar moments, followed upside in price, are marked on the lower study.
Next, some individual members of the space have potential patterns, aside from leader Nvidia NASDAQ:NVDA .
Micron Technology NASDAQ:MU could be forming a potential double bottom around $85. Applied Materials NASDAQ:AMAT has a similar formation around $175. Interestingly, both levels are slightly above their respective prices at the end of last year.
Do these signal bullish reversals?
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XRP - High Timeframe Analysis - SHORT TRADE SETUPDISCLAIMER: This is not trade advice, this is for educational and entertainment purposes only. Trading involves real risk. Do your own due diligence.
Utilizing my 12 Month - 2 Week - 12 Hour Mult-Timeframe approach, I have identified XRP as a market that I would consider shorting IF price action satisfies my rules for entry.
The 2023 candle traded up into the 2022 high and failed to close beyond it. For this reason, I have a bearish bias down to the 2023 lows.
XRP intermediate timeframe (2 week) is currently delivering price bearishly, and is currently in a intermediate timeframe bearish orderblock, which is a point of interest for me to look for entries. For this reason, I am satisfied taking an entry on the 12 hour timeframe if we get one of the following entries: Bearish change-in-state-of-delivery (CISD), 18 Period MA Entry, 10h8c MAC w/ Acc/Dis confirmation. I note that if price trades up into some of the intermediate term swing highs that I would consider shorting there as well, in the event that price trades through the intermediate timeframe bearish orderblock.
Let me know if you have any questions about this multi-timeframe approach.
I hope you are all having a great week.
Good Luck & Good Trading.
Gold coiling up ahead of another bullish breakout?Gold has been coiling under the record highs for a while now, constantly testing and bouncing from uptrend support over the past two weeks. While momentum indicators have yet to turn bullish, the upward bias in the price suggests we should be on alert for a bullish breakout.
Traders keen to take on the long trade have two potential options.
The first is to buy here with a stop below the uptrend, possibly just under $2500. To make the trade work from a risk-reward perspective, you’d need to target a move beyond the record high of $2531.81. The second option is to wait for the potential breakout above the record high. If it occurs, you could buy with a stop below the level for protection.
As we’re talking uncharted territory, round numbers may provide potential targets; think $2550 and $2600. It’s only a line running from two former highs, but keep an eye out for possible resistance around $2567.
Good luck!
DS
$SPY September 12, 2024AMEX:SPY September 12, 2024
15 Minutes.
AMEX:SPY managed to hold recent low of 539.44 by making a low 539.95 and reversing.
So again it touched top of channel as seen and bounced back.
Even the close of 539.95 bar was good being at top of bar, we have oscillator making LL for the two lows 543.4 and 539.95.
Hence i expect a retracement first.
Considering the rise 539.95 to 553.36 if AMEX:SPY holds 548+ levels uptrend continues.
So as long as 545 is not broken we can expect one more move towards 560-563.
I will not short as ass values above moving averages.
Yesterday covered short at 540.5.
My stochastic indicator has turned from red to green bar as seen. Hence any retracement is a buy for me until any change.
APTOS Sell Position / Setup SettingBINANCE:APTUSDT
COINBASE:APTUSD
Hello Traders
SL1 ---> Low-risk status: 3x-4x Leverage
SL2 ---> Mid-risk status: 5x-8x Leverage
👾The setup is active but expect the uncertain phase as well.
➡️Entry Area:
Yellow zone
⚡️TP:
On the chart
🔴SL:
On the chart
🧐The Alternate scenario:
If the price stabilizes below the trigger zone, the setup will be cancelled.
High Timeframe Analysis of the Dollar Index DXY - Short IdeaDISCLAIMER: This is not trade advice. This is for educational and entertainment purposes only, showing how I intend to participate in this market. Trading involves significant risk. Do your own due diligence.
Utilizing my Multi Timeframe strategy, I have identified that I would like to look for SHORTS on DXY. To clarify, I'm not saying I'm blindly shorting this market. If I see price action that checks the boxes for this strategy, I will take the short. Until then, I do NOTHING.
SETUP - > TRIGGER - > FOLLOW THROUGH.
Feel free to shoot me a message with any questions.
Have a great week!
Sideways movement is likely.Greetings.
There are very high expectations that bitcoin and with it the market will go down.
If you think so, I will not dissuade you.
The 2024 market is very different from 2020-21 and 2016-17.
There is a lot more manipulation and sideways movement in it.
Here are a few things I noticed on TOTAL.
On the left is 4H chart.
Kijun has crossed the red cloud and
Tenkan may act as support for continued upside movement.
9 seasons of rainbow show a developing bullish signal.
Oversold (blue) has changed to green (rising) on the two ribbons.
On the right is 1D.
The nature of the fickle clouds (red-green-red-green-red-green) hints that this is a sideways move, AND right today the kijun-sen line is being tested. If the market finds this support it will move towards the green clouds, but these swings could be in the 1.8-2.2 trillion range.
SQZMOM is showing signs of reversal.
ASX 200 futures enter the “death zone” for bulls ASX 200 SPI futures and bullish moves above 8000 haven’t mixed well in 2024, resulting in a raft of failed breaks, long topside wicks and topping patterns. It’s akin to a “death zone” for bulls, starving rallies of oxygen before eventually reversing.
I’m not outright bearish just because we’re back above the level, especially when momentum indicators are providing mixed signals, but I am interested in what happens near-term as it may dictate what happens longer-term. We’ll either get another topping pattern, or a bullish raid will finally stick. So, I’m waiting. I’m especially interested in how the price fares around 8080, if it gets there. The market has only been able to push through it once and never closed there.
Given the track record and current valuations, I’m more inclined to sell rallies but I want the price signal to do so. If we see another failed attempt around 8080, you could sell with a stop either above the level or the high set in August, depending on your eventual target. On the downside, the 50-day moving average looms as one, with 7871, 7794 and 7721 the next after that.
If the price were to break and close above 8121 before extending the move, the bearish bias would be negated.
Good luck!
DS
A Trade as Simple as "Shooting Ducks in a Barrel" - BTC LONGDISCLAIMER: This is not trade advice. This is for educational and entertainment purposes only to demonstrate how I intend to participate in this market. Trading involves real risk. Do your own due diligence.
People like myself (with average-to-below average intelligence) need a simple strategy.
My "Ducks in a Barrel" strategy is exactly that. Simple. Clear. Rules Based. Effective. Zero Discretion.
BTC (and several other cryptos, for that matter), are setup for "Ducks in a Barrel" long trades. Lets review the process for identifying these setups. To be clear, this is not a "long now" post. This market is SETUP. This is not a timing tool. We get into the market once we get a technical long TRIGGER on the Daily timeframe. From there, we FOLLOW THROUGH on the trade by managing risk and maximizing profit. Without the TRIGGER, we have not trade.
STEP 1: Identify a market with a strong trend on the weekly timeframe. I utilize the 39 and 52 period MA. For uptrends, we want to see both MA's sloping up and pulling away from each other. We see on BTC that the two MA's are still upward sloping and pulling away from each other. This confirms step 1, that we are in a strong uptrend.
STEP 2: We need at least 2 of the following to be in unison with the direction we want to trade (in the case of BTC, we need 2 of these to support the long idea).
VALUATION: For longs, we need an undervaluation vs Gold &/or Treasuries.
STOCHASTIC: For longs, we need to see the market is oversold.
SENTIMENT: For longs, we want to see Bearish advisor sentiment (we fade the public sentiment).
STEP 3: We see that BTC is Oversold on the Stochastic and is Undervalued vs Gold & Treasuries. This meets our criteria of 2/3 indicators supporting our idea. This market is now SET UP for longs. Now we wait for the TRIGGER.
STEP 4: We are waiting for Step 4 in Bitcoin right now. We need to see an entry TRIGGER on the daily timeframe via one of the following entry techniques.
18 Period MA Entry
10 high 8 close MAC w/ Williams Acc/Dis 57 MA Confirmation Entry
Stop either 150% of 3 Period ATR, or 2 times the width of the MAC, whichever is greater.
There are other entry techniques, but they are higher risk. The two entry techniques above will not catch the absolute bottom, but will ensure that you are buying into a confirmed trend change. Other entry techniques come with the risk of trying to "bottom/top" pick, which increases your odds of several losses prior to the real move occuring.
If you have questions about the "Ducks in a Barrel" strategy, feel free to shoot me a message.
I hope you all have a great week.
And as always.....
Good Luck & Good Trading.