MDEX (MDX)On the above daily chart price action has corrected 70%. A number of reasons now exist to be long, including:
1) You know why..
2) Multiple oscillators print positive divergence over an extended time frame. Look left.
3) RSI resistance breakouts on both USD and BTC pairs.
4) The last time those conditions printed a significant move followed in the days ahead.
Is it possible price action falls further? Sure.
Is it probable? no.
Ww
Type: trade
Risk: <=6%
Timeframe: Now, don’t hang around.
Return: 250%
M-oscillator
The current conditions entail significant risk for placing orderStrategy: Neutral Risk for placing orders: Significant High
Summary
Long-term and short-term trends: Prices are moving near the lower band of the trend channels, indicating a possible reversal towards the main trend.
Fibonacci Retracement: Critical support levels. The currency pair may move downward to the level of 1.34322 without changing the main trend.
Fibonacci Expansion: Resistance levels that determine the upward movement at points 1.3763, 1.3860, and 1.4000.
Technical Indicators: The use of moving averages and the MACD shows a high risk for trades. The technical indicators do not align with the main trend, emphasizing caution in decision-making.
Trend Determination
The prevailing main trend on the exchange rate price chart is upward. The secondary short-term trend currently on the exchange rate price chart is downward.
Within the main upward trend channel, exchange rate prices are moving downward within the lower band. In the secondary downward trend channel, exchange rate prices are moving downward within the lower band.
The movement of the price near the lower band of the secondary trend channel could indicate an imminent reversal of the short-term trend towards the main trend direction. The lower band of the trend channel is considered a support level. However, this scenario requires further investigation and is currently a mere hypothesis. The price movement within the created channels carries medium risk for placing trades.
Support-Resistance Levels – Fibonacci
Fibonacci Retracement:
Using the Fibonacci Retracement tool will help identify critical support levels and points within which there is increased risk for placing trades.
The Fibonacci Retracement tool will be applied to the upward course of the exchange rate. This way, the levels to which the exchange rate can move downward without being considered a trend reversal can be determined. Specifically, according to the current conditions in the exchange rate, this point is around 1.34322.
The possibility of breaking this support point and continuing the price movement below 1.34322 requires great caution as it could signal a trend reversal and significant losses.
From the study of the Fibonacci sequence in this currency pair, two important levels emerge, which are necessary to mention. Placing trades at any point within these two levels carries increased risk due to the accumulation of pressure. This range is defined by the levels of 1.34322 and 1.35831. The risk decreases above the 1.36764 limit for the possibility of placing a buy order.
Fibonacci Expansion:
The purpose of using the Fibonacci Expansion tool is to identify resistance levels. Consequently, these levels can be used to estimate the range of the possible upward movement.
The current movement of the exchange rate is considered significant and quite clear. This significantly helps in applying the Fibonacci Expansion tool and identifying the resistance levels for this upward movement.
The resistance levels that appear to exist and their distance from the current price, which is considered noteworthy, are as follows:
1.3763 – 133 pips
1.3860 – 230 pips
1.4000 – 370 pips
The application of a second Fibonacci Expansion was deemed necessary, initially because the movement was quite strong and secondly, the identification of intermediate levels will better define the price movement range.
Technical Indicator Analysis
To smooth prices, determine trend dynamics, and strength, a system of three moving averages will be used. To evaluate trend momentum and identify divergences which may indicate trend reversal, the MACD will be used.
Moving Averages:
The exchange rate prices are currently below the moving averages. The distance of the current price from the moving averages is not significant. Visualizing the results of the moving averages shows that the price trend, at the present time, does not evolve according to the main trend.
MACD:
The MACD is moving negatively in a downward trajectory, and its momentum is not satisfactory. Visualizing the MACD results does not show divergences between the MACD trajectory and the price trend. The existence of divergences could mean a potential reversal of the current price trend. The MACD results show that the price trend, at the present time, does not evolve in conjunction with the main trend.
The moving averages and MACD indicate that the possibility of placing a trade, at the current moment according to market conditions, carries high risk. This is concluded from the fact that the technical indicators, on the one hand, do not provide results that are in harmony with the prevailing price trend. On the other hand, they do not adequately describe the current market conditions.
Short position on SFPUSDT 2H/ Trading setupBINANCE:SFPUSDT
Mid-risk status: 2x-5x Leverage
⚡️TP:
On the chart
➡️SL:
0.875
The Alternate scenario:
If the price stabilize below the trigger zone, the setup will be cancelled.
GBP/USD stages bullish break, March peak in sight?In the absence of an unexpected reacceleration in US inflationary pressures or unlikely hawkish pivot from Jerome Powell when he appears before lawmakers on Capitol Hill on Tuesday, whether the US dollar can reverse the bearish move seen last week is questionable. With Fed rate cut expectations growing as US data continues to soften, the path of least resistance looks lower in the near-term for the DXY.
Having broken above 1.2800 and closed there Friday, and successfully back tested the level again in early Asian trade today following the French election results, GBP/USD is one pair that may be able to capitalise on the buck’s bearish reversal in the days ahead.
Buying near these levels targeting the May high of 1.2894 is one potential setup, allowing for a stop loss order to be placed at 1.2790 for protection. You’re risking around 17 pips to make 87 pips. Resistance may be encountered around 1.2860, the high struck in June. Should GBP/USD fail to clear that level, consider taking profits on the trade.
While GBP/USD has not had a great track record above 1.2800, this bullish break comes with the USD on the backfoot and follows a successful break of downtrend resistance that thwarted other bullish moves earlier in the year. With it out of the way and momentum indicators like MACD and RSI providing bullish signals, upside looks easier than downside in the near-term.
DS
Shiba Inu SHIBA lot of folks asking about Shiba Inu at the moment. At this time on the above 2-day chart price action has broken from resistance that began in October 2021.
The question most want answered: Will Shiba (Bro..) pump 1000% like in 2021 from late September until late October? No idea. Anything is possible.
Is it probable? No. Why do I say that?
Let’s look left. Back 2021 there were certain conditions that printed specially on the 2-day chart. Those conditions were:
1) The BTC pair of the token
2) A strong buy signal
3) Strong bullish divergence. Huge.
4) Stochastic RSI was 50+ at the time of the above conditions.
Do all those conditions exist today? No.
Do those conditions exist on other tokens today? Yes.
Yes indeed. As a matter of fact there are 16 tokens currently listed on Binance printing those exact conditions. Two of them have already ‘popped’, GALA and SOL.
What are the other 14? Get this post to 500 likes and I’ll share them below!
Ww
Remember:
Type: trade
Risk: <=6% of portfolio per position.
Timeframe: don’t know
Return: don't know
Centrica - bullish divergence*investment opportunity*
A 90% correction since 2014 and following oversold condition there now exists an excellent opportunity to buy this stock.
The 10-day chart above confirms a regular bullish divergence between price action and the oscillators + higher low in price action. This is the start of a trend reversal. Price action is now in the bullish half of the Bollinger band as the mouth is constricting, which suggests a big move is coming.
On the fundamentals Centrica engages in the provision of energy and supply services. There is no end of ‘bad news’ stories on the business. Pay no attention. The only news you need is the headlines in the charts, and they look amazing.
A buy above 42 is good. 1st target 115
2-month chart - broken RSI resistance following oversold condition:
3-month chart - bullish morning star + confirmation
NVDA Short: Prepare for 3rd wave downIn this video, I present the bearish call for NVDA using Elliott Waves, Fibonacci extension levels, RSI, and Volume analyses.
Silver - Bullish ContinuationTVC:SILVER is currently in a strong bullish trend on daily timeframe. Recently price broke through the resistance trend line and lower high and created a higher low on 4 hr TF. Expecting price to retrace before continuing with the bullish momentum!
ETH Poised for Post-ETF Approval Pullback: Short to 3.2k ZoneEthereum surged over 30% in anticipation of its much-awaited ETF approval, but the excitement may be short-lived. As traders who missed the initial rally eye the $2.9k to $3.2k support zone, a pullback seems likely. With ETH currently trading around $3.8k, a short trade to this support area presents an attractive opportunity.
Technical Analysis:
Visible Range Volume Profile (VRVP): The VRVP indicates a significant volume zone at $3k, suggesting strong support at this level.
Average Directional Index (ADX): The ADX, a momentum indicator, is losing strength, signaling a weakening trend.
Proposed Short Trade:
Entry Price: 3.8k zone USDT
Take Profit: 3k zone USDT
Stop Loss: 4.110 USDT
Rationale:
The post-ETF approval euphoria is likely to fade, leading to a price correction.
The $2.9k to $3.2k zone represents a strong support area, as evidenced by the VRVP.
The weakening ADX suggests a loss of momentum in the uptrend.
Risk-to-Reward Ratio:
The potential risk-to-reward ratio for this trade is approximately 3:1, implying a potential 3% profit for every 1% risk.
H&SClose below $3.9 first signal of possible head & shoulder is in play with a target of $1.4 that coincides with horizontal support zone ($1.4-$2)
waiting to confirm a downwards bounce from $3.9
what speaks against continuation of move down is (if confirmed on daily close) Bullish Divergence on RSI / Priceaction and that volume is not high compared to previous priceaction
Bullish Divergence RSIDepending on when the pivot point actually sets in we are looking at Bullish Divergence on RSI / Price starts to print on the daily chart.
USD/JPY bullish reversal underway on the 4H timeframe?USD/JPY has printed a bullish reversal pattern on the 4H timeframe, bouncing off uptrend support in the process. And with horrible Japanese household spending data showing spending slumped 1.8% in the year to May against expectations for an increase of 0.1%, the likelihood of the BOJ delivering further near-term monetary policy tightening looks to be dimming fast.
Unless we see weak payrolls report later today, which has not been the case over much of the past year with it beating expectations on eight of 12 occasions, the path of least resistance for USD/JPY remains higher.
Buying here with a stop below the uptrend is an option targeting 1.61745 or the multi-decade peak of 161.952 set earlier in the week. Prior to the current candle, USD/JPY printed a morning star pattern that’s often seen at bullish turning points. RSI has also broken its downtrend, hinting at a potential shift in price momentum to the upside.
DS
FX Index Curve Oscillator (FICO)By constructing an index like TVC:DXY for each of the 8 major currencies, we can determine which currencies may be showing relative strength or weakness. This indicator was designed for trading FX on the daily charts. Other timeframes should work with the right settings, but it will not work for other asset types .
AUD - Yellow
CAD - Red
CHF - Orange
EUR - Purple
GBP - Green
JPY - White
NZD - Lime green
USD - Blue
The US Dollar Index is constructed by taking a weighted average of a basket of currencies against the USD in order to gauge it's relative strength. We can actually construct a similar chart by simply taking the product of several currencies against the USD; it won't have the same values of course, but the chart's general shape (peaks and valleys) are approximately the same. This technique can be applied to other currencies, which is the premise of this indicator.
The default settings seem to work "okay" for the daily chart. The lookback and oscillator are probably the biggest variables to change if you move to different timeframes.
Some ideas on how to use this indicator:
Using crossovers for a particular currency pair:
Using color changes for a currency pair (one bright, one dark):
Waiting for values to cross +/- 1.000 and change color:
As above, but using all the currency indexes, and finding opposing pairs to trade:
Why I Think GBPUSD Will Continue to Buy This WeekHey Rich Friends,
I know its NFP Week, but we can still make smart trades by sticking to our plans. Be mindful, but do not trade with fear. I think that GU will continue to buy this week and here is why:
- The market has already rejected the previous demand zone.
- The 3 EMA (blue) has crossed above the 10 EMA (purple). This is a strong bullish confirmation for me
- The stochastic is facing up, the fast line (blue) is above the slow line (orange) and both lines are above 50. This is a strong bullish confirmation for me.
- I will set my TPs at previous highs and my SL at a previous low
Good luck if you decide to take this trade. Remember to check the news and cross-reference the indicators that you have on your chart.
Peace and Profits,
Cha
DOT's next move.CRYPTOCAP:DOT
I see a bullish divergence on the daily chart at an important support level, and people are freaking out about how they spend money :)
Sorry, but I trust what I see on the charts.
The only invalidation point is $4.50.
If you are still here, here are more of my thoughts...
So what if #DOT paid big influencers to promote their project? Every project does that; it's their marketing strategy. It's good that they are investing in marketing because, in the crypto world, the cycle moves really fast, and to keep up, you need to spend on marketing.
Many projects, including some of your favorites right now, have paid influencers. It's like the death toll shown on your screen daily during the COVID-19 pandemic, which made you worry every day. But in reality, the death toll was almost the same before COVID-19; it was just shown to you daily.
You never know how much #ADA paid influencers. Disliking the idea of paying for and buying inorganic distribution is misguided.
LBPHRSI above 80
6 months flag at the ATH, following the gap +200% on x10 volume.
Broken out of the flag, sky is above.
Up+50% after the first close above WMA10 before the last breakout
Dusk Network - 200% waiting to be collectedOn the above 4-day chart price action has corrected 70% since the year began. A number of reasons now exist to be long, including:
1) Price action and RSI resistance breakouts.
2) Regular bullish divergence. All but one oscillator continues to print positive divergence with price action.
3) Look left. Price action confirms support on past resistance.
4) Bull flag breakout. Flagpole measures 200% from breakout.
5) GRM support confirmed.
Is it possible price action corrects further? Sure.
Is it probable? No and no.
Ww
Type: trade
Risk: <=6%
Timeframe for long: Now
Return: 200%
Rebalancing of share.Bitcoin dominance. 26 day chart.
It seems clear now that the dominance has fallen from the
ascending diagonal it has been travelling on since November 2022.
The wave trend gives an indicator of a probable downward reversal
(the red dot corresponds to the blue candle).
Heikin Ashi also gave a red candle.
I will update the idea later this summer.
For now I am watching the Tenkan line which
will enter the red cloud in the next 26 days.
TeslaPrice has taken support at 195 - 197 and broken the trend line. Sustaining the current level will make the price to move up.
Patterns I am seeing in this chart are triple bottom support, RSI divergence, trend lone break out.
Buy above 198 with the stop loss of 196 for the targets 200, 203 and 206.
Sell below 194 with the stop loss of 196 for the targets 192, 189 and 186.
Hit the like button to Rock !! Show some energy !!
Note : This is my pre market analysis and my trading journal. Not a suggestion to buy or sell.
You are responsible for whatever you do.
Talaat Mostafa Group Stock, only higher.
For those interested in the Egyptian Stock Exchange market, here's a technical analysis of Talaat Mostafa Group's stock. I recommend placing two buy limit orders and two sell limit orders for quick profits. In the long run, the stock is expected to reach higher levels. The fundamentals also support an upward move due to the inauguration of the new Southeast project next Sunday.
150x Potential on Tokenfi's TOKEN [LONG]Hello Traders,
RWA AKA tokenizing "Real world assets" will be one of the next major breakthroughs in the fintech industry. From the team at FLOKI Coin they've created Tokenfi's TOKEN cryptocurrency which handles all the payments for tokenizing assets on all of the major blockchains. In the last couple of months the team completed thorough updates to bring tokenization of real world assets to every major blockchain. In one regard you can create your own cryptocurrency with a click of a button. As well as NFT projects. You can tokenize just about anything and with thorough and complete updates in the coming releases they are always adding quality over quantity to their code. This project is a first of its kind. People in the fintech industry have been talking about tokenizing real world assets for a couple of years now. The team at FLOKI and Tokenfi are the first to make this a possibility. Just a few months ago it was only for three block chains. Now they have almost every major blockchain. This is a sign of amazing things to come with future updates.
As we look at the PMARP indicator on the daily chart we can see projections almost like the RSI where it is at an oversold time. This is already bringing in big investment money as you can see from the chart. I remember when TOKEN first started and I told you to invest at two cents. It already hit 22 cents from there. It went down to 5.8 cents and then back up to 17 cents. This correlates with Bitcoin. When Bitcoin goes up like it will by the end of the summer or sooner we will see TOKEN go up in a major way. Just take a look at the chart. At every moment when you see it is oversold on the PMARP indicator or the RSI indicator you can see that it made amazing gains! With a 78 million dollar market cap heading into a 3 billion dollar a year NEW industry the price of token could easily hit 50 cents, $1 even $2 and so on. So make sure to set aside investment for TOKEN cryptocurrency and remember to shout me out for who told you first.
Love
Rocket
DUSKUSDTDUSK has a triple bottom at a higher time frame demand zone.
It's also about to get a bullish MACD Cross on the Daily.
Dusk has clearly bottomed and this is a great entry for what will be one of the top performing $RWA.
Perpetual Protocol (PERP) to $20On the above weekly chart price action has corrected 97% since September 2021. A number of reasons now exist to consider a long position. They include:
1) Price action and RSI resistance breakouts.
2) Support and resistance. Price action confirms support on past resistance (see arrow). Look left.
3) GRM support has already confirmed.
4) The falling wedge breakout and confirmation forecast a 5000% move from the breakout point. Forecast is measured from low to highest touchpoints within the wedge (blue circles).
Is it possible price action corrects further? Sure.
Is it probable? no.
Ww
Type: trade
Risk: <= 6%
Timeframe for long: Yesterday
Return: 50x
