$SPY August 30, 2024AMEX:SPY August 30, 2024
15 Minutes.
Shorted yesterday at 560 levels.
Today for the fall 563.68 to 557.18 561 is 61.8% retracement for the fall.
Since AMEX:SPY below all moving averages i will hold the short.
As written for the rise 518.05 to 563.91 I am expecting a 23.6% retracement. We have an oscillator divergence. So only above 564 I will be closing at loss. 4$ loss for 7 % gain. Good R:R at the moment.
Let's see.
M-oscillator
SPY holds steady while QQQ sells offDuring the past week, SPY and QQQ have diverged in their paths
QQQ slowly and steadily sold off
SPY traded flat during that time
This indicates that the sell off in QQQ was primarily tech driven and did not spread to the rest of the industries
other industries look to be holding stable
QQQ shows a reversal is nearQQQ experienced a number of turning points showing increased weakness in the sell off we have been seeing over the past week.
False breakout to the upside
Strong growth in volume confirming the breakout direction
Hammer candle on close indicating reversal maybe coming after later day retracement
RSI breaks above SMA line for first time
This change in direction we have seen today with a new interest from the bulls shows that ever selling we experience going forward will likely be tested by the bulls again.
For trend traders I would recommend sitting on the side lines until we see a stronger trend form either to the up or down side. This current down trend is showing weakness.
NOT will get a new impulse.I bided my time to share my thoughts.
1. The crowd started reacting to Durov's arrest as if the whole life of the crypto project is equal to the fate of a media person. And the people who shouted the loudest, they don't even realise that they themselves believe in this connection. all is well with Durov, so all is well with NOT. These people are a long way from the philosophy of libertarians, much less anarchists. Contempt for the hysterical. By the way, the most important tech evangelist of Telegram is not Pavel Durov himself. It's his brother Nikolai Durov. World champion student coder. Durov is a visible public face. They're like Oskar Schindler and Itzhak Stern. One creates the presentation, the other creates the ideas.
2. I assumed that the absurdity of the charges (failed to help disclose a protected communication = helped distribute drugs, nonsense) would run into very expensive lawyers that Durov could afford. I'm sure the fact that he's out on bail shows that the charges were met with a decent defence. Complicity sounds ridiculous.
3. Important detail. Many people noticed this in Russia, but I'm not sure it was noticed elsewhere. On the eve of his arrest, Durov flew to Azerbaijan. The Russian press leaked versions that he would meet with Putin there (he was there on a state visit these days). Analysts speculated that since another Telegram blockade had just begun in Russia, Durov was travelling to try to negotiate something with Putin. Soon a report appeared ‘Vladimir Putin did not meet with Pavel Durov in Baku.’ It was only after that that Durov flew to Paris, where he is arrested. What if this is a necessary step by Durov to dismiss the stupid charges through the court, to find a new formula for co-operation with the authorities and to better protect his business? If these arrest warrants are in place, then there must be some way to prove that they are ridiculous. Because he clearly lacked the support he may have been looking for from Putin. So he took the risky step of coming to France. Somehow people thought it was a colossal mistake. Not a calculated business risk. So he needed business in Europe. Durov's already out on bail. Being under court supervision doesn't stop him from doing business. He's not in jail. What if tomorrow we find out that Telegram changed its protocol for co-operating with the police on child pornography? And in court, the prosecution's case would be shattered by the defence? Therefore, the whole thing was worthless.
4. people who are completely confused in their heads are despicable. They write NOTcoin and mean TONcoin. They write TONcoin and mean NOTcoin. And all this only because they heard somewhere that all this is somehow connected with Pavel Durov, and therefore it is the same thing. Such guys not only can't be trusted with the keys to cryptocurrencies, they can't even be trusted with the key to their own flat. Exaggerating concepts and meanings is disgusting. NOTcoin is not TONcoin. Yes, it is an asset integrated into the TON system. But TRON has a lot of things integrated into it as well. However, some coins on TRX are rising, others are falling. No need to generalise. NOTcoin is related to gaming. TONcoin is a more universal currency, more like classic money.
5. VFI LF on the 4 hour timeframe is showing increasing volume flow, and even the slow volume EMA is about to move to the upside from zero. To watch.
6. In Russia there is a saying ‘Fear has big eyes’. This is the very case, as they are now looking at NOT. Forget about Durov. He is not a tsar or a god or a hero. An asset is an asset.
7. As with the rest of the market, we need a falling bitcoin dominance. This is far more important than whether Durov is in jail or not.
Bitcoin is Bullish Long Term - Next Wave is Coming!While there is some danger of a deeper correction in the near future, the longer term picture is strongly bullish:
Bitcoin is clearly in an uptrend on the monthly timeframe. Higher highs and higher lows. Even crashing all the way down to 30K will not violate it.
Elliot waves: we have completed 3 waves so far and we're in the wave 4 right now. Wave 5 can be expected next once the current correction/consolidation is finished.
The cycle is far from over yet. It can last until the end of 2025 and the new ATH can be estimated to occur somewhere between November and February. Read more in this post.
Monthly RSI hasn't reached the extreme values it reaches every market cycle top yet. It can be expected to reach 87-88 this time based on the trend line you can see on the chart below.
QQQ showing more selling to comeQQQ throws signals that bears are still firmly in control and the downward trend should continue
QQQ tests major resistance line, fails to breakthrough
During recovery in late day trading volume steadily decreases showing disagreement in recovery
After hours shows a significant sell off which has recovered some since.
RSI falls in step with price showing no signs of reversal coming
Next major support line is around 463
Today marked the first day of strong downward trading breaking through support and holding. We are looking at more selling to come
ARBUSDTHi guys
The main trend is downward. We have not yet received confirmation of a trend change and the bullish outlook is very weak for now.
But on the daily and four-hour time frames, we have a positive RSI divergence.
And provided that the downward trend line is broken and the resistance range of $0.893 is consumed, the possibility of the continuation of the upward trend is strengthened.
What do you think?
SMH throws mixed signals compared to QQQSMH indicators, EMA crossover, and stock throws mixed signals
EMA remains below its SMA line
RSI breaks slightly above its SMA
stock price remains firmly inside lower resistance line
SMH is rather prone to false breakouts. So the RSI breakout above could be a fake out for sure. Prefer to wait for extra confirmation of new direction with SMH before making trades on it.
SMH is overall giving more bearish direction than bullish.
Short position on COMPUSDT / Follow for updatesBINANCE:COMPUSDT
COINBASE:COMPUSD
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 above the trigger zone, the setup will be cancelled.
ARB/USDT 15m / D BB & FVG / ELLIOT / LIQUIDATIONS / FIBOAccording to higher timeframes, the market sentiment is bullish. We are moving within an ascending channel with the potential to rise to 0.7416. To increase the probability of this outcome, the price needs to establish itself above the ascending channel.
Locally, within the range of the daily breaker block (D BB) and the daily imbalance (D FVG), three potential entry points are visible:
1. Liquidity grab (Sellside liquidity)
2. 0.5 Fibo
3. 0.618 Fibo / bottom of the ascending channel
4. The target is the local high, which is at the midline of the channel.
Locally, based on the EFIATR oscillator, volume, and liquidation levels, there is a likelihood of growth. According to Elliott Wave theory, a 5-wave pattern and an ABC correction in the 4th wave are visible, which further increases the probability of upward movement.
Volkswagen: BUYThe Doji on the Monthly chart shows that the downtrend is exhausted at historic Change of Polarity support. Stochastics are oversold. Price hit the Monthly Bollinger lower band and Yearly Pivots Fibonacci S1 support. Target is next major Fibonacci level above which coincides with Daily chart Falling Window resistance.
Long: 105.70
Target: 125.00
SL: 100.7
Max 10% of trading capital.
Deep dive into Acceleration / Deceleration Indicator Hello, Skyrexians!
Last time we discussed how you can use the Awesome Oscillator to create profitable crypto trading strategies and which type of signals it generates. Today we will deep dive into Acceleration/Deceleration (AC) the next Bill Williams indicator, which can also enhance your cryptocurrency trading strategy. This indicator also can be valuable not only for manual trades, but also for developing your crypto trading algorithm, crypto algo trading platform, crypto trading bot, ai trading bot or grid bot.
The main thing is to understand what is the AC indicator and which signals it generate, which signals we shall use in crypto trading like top crypto traders. Let's go!
What is Acceleration / Deceleration?
The Acceleration/Deceleration Oscillator (AC) is a technical analysis indicator developed by Bill Williams, a notable trader and author known for his work in market psychology and trading systems. This indicator helps traders identify changes in market momentum and potential trend reversals.
How the Acceleration/Deceleration (AC) Indicator Works? The AC indicator is based on the idea that the momentum of the market (speed of price movement) often changes before the price itself changes. By identifying these shifts in momentum early, traders can anticipate potential trend changes.
The AC is derived from the Awesome Oscillator (AO), another indicator created by Bill Williams, which is the difference between a 34-period and a 5-period simple moving average of the median price (the average of high and low prices).
The AC is calculated by subtracting a 5-period simple moving average of the AO from the AO itself. Mathematically, it can be represented as:
AC = AO − SMA5(AO)
Where AO is Awesome Oscillator (calculated as the difference between the 34-period SMA and the 5-period SMA of the median price). SMA5(AO) is 5-period simple moving average of the AO. Now let's consider which types of signals AC can generate.
Long Position on APTUSDT 1H / (Volume Projection)BINANCE:APTUSDT
COINBASE:APTUSD
Mid-risk status: 5x-8x Leverage
Low-risk status: 3x-4x Leverage
👾The setup is active but expect the uncertain phase as well.
⚡️TP:
5.96
6.05
6.15
6.25
6.32
6.45
6.52
6.60(In Optimistic Scenario)
➡️SL:
5.6
🧐The Alternate scenario:
🔴If the price stabilizes below the trigger zone, the setup will be cancelled.
Long Position on ZENUSDT / (Volume Projection)BINANCE:ZENUSDT
COINBASE:ZENUSD
Mid-risk status: 5x-8x Leverage
Low-risk status: 3x-4x Leverage
👾The setup is active but expect the uncertain phase as well.
⚡️TP:
8.09
8.39
8.73
9.07
9.46
9.78
10.20
(In Optimistic Scenario)
➡️SL:
6.80
🧐The Alternate scenario:
🔴If the price stabilizes below the trigger zone, the setup will be cancelled.
Highstreet (HIGH) - Easiest long trade.. ..since long trades were invented. Basically it is free money.
On above 3-day chart price action has corrected 80% since 20 days ago! Market participants have capitulated. Take advantage.
Previously price action has corrected to confirm support on past resistance. Sure it will break if it is meant to this time, but not right now. That is what makes this an easy trade. Look left.
The previous two support confirmations resulted in bounces of 50% and 100% (growing), respectively. On this bounce sellers are absent, which will make for a stronger support confirmation than the previous two.
How can I be so sure? Experience laddie and ladets.
Zooming in down to the 18hr chart we can see all oscillators are now recording bullish divergence (black circles). Divergencies that were just as strong when the market was bearish. This time on the reversal.
Is it possible price action correction further? Sure.
Is it probable? No.
Ww
18hr
GOLD - ShortGold maintained its upward momentum, while a negative divergence formed with the RSI oscillator. As the price reached its new ATH (all-time high) at 2,530, the RSI oscillator remained in bullish momentum above 50 and formed a negative divergence which Is an early warning for a probable retracement. Next levels lower to look at 2,446 & 2,360