ASX 200 flirts with bearish reversal breakoutElection jitters are in the air, and it is weighing on Wall Street sentiment - and dragging the ASX 200 with it, which also faces pressure from a spate of weak China figures in recent weeks.
A potential head and shoulders top has formed on the daily chart, and prices are close to testing a support zone which could double up as a neckline.
For now, the ASX appears hesitant to break the 8130/50 support zone which brings could prompt a minor bounce over the near term.
A break beneath 8130 confirms the bearish reversal, which projects an approximate downside target near 7900 and the 200-day EMA. Also note the 8100 and 8000 levels which could provide support along the way
MS
M-oscillator
$SPY October 31 2024AMEX:SPY October 31, 2024
15 Minutes.
Still within the box.
For the fall 586.12 to 574.41 4SPY retraced 78%. So double bottom is what Hence, expect.
For the fall 583.32 to 576.36 582 is the level to short for 578-579. If this is broken, we can expect 576 levels which is 200 averages in one hour time frame.
The issue we have at the moment in one hour is AMEX:SPY made LL at 580.38 and 574.41. But no divergence in oscillator. Hence, I don't see much downside. At the moment.
Go long above 585 and short cover at 579 578 levels. Maximum downside as mentioned is 576 levels as of now.
LTCUSDT Long Setup Setting / Risky but Why not?BINANCE:LTCUSDT
📈Which side you pick?
Bull or Bear
SL1 ---> Low-risk status: 3x-4x Leverage
SL2 ---> Mid-risk status: 5x-8x Leverage
(If there is just one SL on the chart, I suggest, low risk status)
👾Note: The setup is active but expect the uncertain phase as well. also movement lines drawn to predict future price reactions are relative and approximate.
➡️Entry Area:
Yellow zone: 68.45-66.76
⚡️TP:
69.43
70.50
71.90
🔴SL:
64.89
🧐The Alternate scenario:
If the price stabilize against the direction of the position, below or above the trigger zone, the setup will be canceled.
Topside wicks, sagging momentum suggests AUD/JPY break may stickAUD/JPY looks primed for downside.
The price has broken the uptrend it's been sitting in since late September. RSI (14) is trending lower with the bearish signal confirmed by MACD. And one look at the topside wicks above 101.00 suggests sellers are lurking and unwilling to budge.
If the price manages to close beneath the uptrend, you could sell with a stop above for protection. To make the trade stack up from a risk-reward perspective, the 50-day moving average or 98.04 are potential targets.
Good luck!
DS
RATSUSDT.P
Hello dear friends,
Another degen SHORT is coming your way! This time, it’s 1000RATS on the 30-minute timeframe. This one is extra degen due to the volatility of this meme coin.
Two things on the chart make me bearish: first, the price is at resistance, and second, there's a bearish divergence in volume.
This is not financial advice by any means! Stay safe, and keep that SL tight!
SOLUSDT.P
Hello friends,
Here’s the next degen SHORT in this series! We have SOL, one of the giants of crypto. We’re looking at two oscillators, RSI and CMF, both of which are bearish on the 30-minute timeframe. That’s why I'm shorting SOL—but, of course, this is not financial advice in any way!
Stay safe, and keep that SL tight!
BTCUSDT.P
I'm trying to short the king of crypto, BTC. This is more of a degen trade, so proceed with caution! Momentum and RSI are losing ground, which could be bearish. Keep in mind that both are momentum oscillators, so they behave similarly.
Keep that SL tight and stay safe. This is not financial advice in any form.
Stay safe!
Zoom Video Communications, Inc. - Bullish divergence*investment opportunity*
A 90% correction since late 2020 on the above 4 day chart. There now exists an excellent opportunity on this stock. Why?
1) Price action and RSI resistance breakouts.
2) Support and resistance, look left. Price action is on past support. Terrific.
3) Bullish divergence. Lots of it, as measured over a 100 day period.
Is it possible price action falls further? Sure.
Is it probable? No
Ww
Type: Investment
Risk: <=6% of portfolio
Timeframe: Act now
Return: Rather awesome. Will say elsewhere.
Stop loss: Will say elsewhere.
USD/JPY rally facing fundamental test with US job openings data USD/JPY remains a play on the US interest rate outlook, sitting with an incredibly strong correlation with US two-year Treasury note futures of -0.98 over the past fortnight. When short-dated US debt futures have moved in a particular direction, USD/JPY has almost always done the opposite, mirroring US Treasury yields.
With there's no obvious reversal pattern in US two-year note futures in the right-hand chart, providing reason to be cautious about getting to aggressive, with the first of the week’s major US economic releases on the way in the form of JOLTs job openings for September, the risk of profit-taking in USD/JPY appears elevated.
After a surprise bounce in August, markets are looking for only a minor decline in openings of 50,000 to 7.99 million. Notably, this survey tends to bounce around and we haven’t seen back-to-back increases since late 2022. That hints at the potential for a downside surprise that could spark downside for US Treasury yields and USD/JPY which have run very hard in recent weeks.
If the price holds below 153.19, you could initiate shorts with a tight stop above for protection targeting a return to the 200DMA.
Good luck!
DS
Platinum - Daily Resistance Zone - Bearish Divergence CAPITALCOM:PLATINUM has reached a daily resistance zone and currently slowing down the bullish momentum since the support trend line is broken! Additionally, bearish divergence is also present on the chart and price action indicates incoming bearish momentum since the HL on 4 hr has been broken and retested!
Cardano (ADA) 70% macro correction to 15 cents?On the “Alt-coin market preparing for a 10x move” idea from July 2023 (below) it was written:
“A word of warning. The uptrend will not be equal across all alt-tokens, I'm quite certain of that. Throwing a wide net out across the market will not work as in 2017, you've got to be selective.”
Legacy token holders are slowly coming to the realisation this was not hyperbole. LTC, MATIC, ALGO, you name it, legacy tokens are underperforming. ADA is now added to the list of tokens set to show significant underperformance for the remainder of this bull market.
On the above weekly chart ADA price action has confirmed significant negative divergence across 8 oscillators as measured over a 2 month period. Just as it was in March 2021. Look left!!
In addition to the divergence price action has confirmed legacy support as resistance. It does not get much more bearish than this. But it does… The ADA / Bitcoin ratio..
The ADA.btc pair has confirmed resistance following a confirmed break of market structure. This is not indicative of other tokens currently over performing in the space.
Is it possible price action see higher highs? For sure.
Is it probable? No.
Ww
Alt-coin market preparing for a 10x move
ADA.btc monthly
EUR/AUD bounce delivers good news for bullsEUR/AUD closed above the 50-day moving average on Friday after a successful break of 1.6318.
After opening Monday marginally higher, the price pushed lower to retest 1.6318 before bouncing strongly towards the European open, providing the framework for the bullish setup.
It’s not appealing from a risk-reward perspective to buy around these levels with the 200-day moving average in close proximity, so my preference is to wait for a potential pullback towards the 50-day moving average, providing a better entry level while allowing for a stop to be placed below 1.6318 for protection.
The 200-day moving average would be the initial trade target. If the price were to trade through that level, 1.6450 would be the next potential target.
With MACD and RSI (14) providing bullish signals on momentum, the preference remains to buy dips and breaks rather than selling rallies.
Good luck!
DS
Why Smart Money is BEGGING for a Bitcoin Dip (Technical Analysis📈 Why Smart Money is BEGGING for a Bitcoin Dip (Technical Analysis)
MAC Strategy: Your Dip-Buying Blueprint
Monthly and weekly Moving Average Channel indicators are bullish. Here's your shopping list:
- Weekly MAC support: $59,234
- Monthly MAC support: $55,943
These aren't dips - they're gifts. When Bitcoin touches these levels, smart money moves fast.
Ducks in a Barrel Strategy Says "Load Up"
Weekly timeframe say we want to buy the dip. :
- 39 & 52 week MAs trending up and pulling away from each other (bullish momentum)
- Strong uptrend intact in spite of the several months of consolidation..
Perfect storm setup for Ducks in a Barrel:
1. Bitcoin undervalued vs gold/treasuries
2. Stochastic hits oversold at the same time
If you see a Bitcoin dip, REMEMBER: Dips are Gifts.
Stop Missing These Setups
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Trading Disclaimer
TRADING CRYPTOCURRENCIES INVOLVES SUBSTANTIAL RISK OF LOSS AND IS NOT SUITABLE FOR ALL INVESTORS. Past performance is not indicative of future results. The information provided in this analysis is for educational purposes only and should not be considered financial advice. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change without notice. I am not a licensed financial advisor. All trading decisions and consequences are your responsibility.
Deutsche Bank AG to 21 EuroDespite the chaos with Credit Suisse European banks in General are printing some excellent setups. What is the reason for this? No idea.
On the above 2-month chart:
1) A strong buy signal (not shown) prints with price action breakout from resistance that has been active since 2007.
2) Regular bullish divergence. No less than eight oscillators this time. Four to five oscillators printing on this time frame is incredibly powerful but eight?!
3) Inverse head and shoulders pattern. Confirmation is price action closing above 10.50 and staying there or above for a week or two. On confirmation a target of 21 euro should be expected.
4) The yellow line is the 21/2-month EMA. Notice the first attempt to hold as support has failed? (Orange arrow). This was the first attempt to hold as support since July 2005. Confirmation of support is price action at 10.50 and above by the month of May.
5) Almost EVERY idea on tradingview is 'short' / Bearish! Ww is the 5%. What in?
Is it possible price action falls further? Sure.
Is it probable? No.
Ww
Type: Investment
Risk: <=6% of portfolio
Timeframe: Don’t know.
Return: 110%
Stop loss: 7.20
Natural Gas is Ready For a Commercially Driven Bull MoveNatural gas is nicely setup for longs if we get a confirmed bullish trend change on the daily.
-Extreme commercial long positioning (most long they've been in the last 3 years) - bullish.
-Investment advisor sentiment very bearish - which is actually bullish.
-Undervalued vs gold & treasuries - bullish.
-ADX under 40 while commercials got extremely long - bullish.
-Bullish spread divergence between front month and next month out - bullish.
-Small specs at extreme in short positioning - bullish.
-True seasonal & some cycles are not supportive of going long, but these are the last things I look at. Enough indicators are supporting longs that I'm not going to worry about this.
-Bullish momentum divergence has triggered on some high timeframes, implying much higher prices are on the cards for Natty. There is also some smaller bullish weekly divergence currently setup (but not confirmed).
Have a good week.
COT Analysis - Currencies - DXY 6E & 6M SET UP FOR TRADES!COT analysis shows that the Euro and Mexican peso are nicely setup for longs upon a confirmation of bullish trend change on the daily. The only "fly in the ointment" here is that the DXY commercial positioning is still very bullish, which is a bit of a mixed signal. Ideally, we like to see the DXY & majors give opposing signals simultaneously.
That being said, 6E & 6M are nicely setup for longs upon a confirmed daily bullish trend change.
Have a good week.