M-oscillator
DXY Short: Completion of corrective A-B-CFrom my previous idea that precisely called the turning point and nature of how DXY will move up, I am now calling for DXY to fall. The reason is because:
1) Completion of 3-wave structure,
2) Big picture wise, we are still on a down trend,
3) RSI-Price divergence.
Stop above recent high.
btc in reverse Head and Shouldersthe **reverse Head and Shoulders pattern** signals a possible bullish reversal, and if Bitcoin breaks the resistance with strong volume, it could lead to a significant upward move. The current pullback and neutral RSI suggest the market is in a wait-and-see mode, but the setup looks promising for a potential price increase. What do you think?
COT Analysis - Currency SectorA few weeks ago I was calling for shorts on 6J, longs on DX, and shorts on ZB. Those trades are well underway, with partials already taken.
This week, COT strategy is supportive of longs for DX. Of particular interest is 6A (AUD). The commercials are more short this market than they have been in over 3 years. This is a very bearish signal. I will be focusing on shorting AUD this week, as in my opinion, it has the greatest potential for a significant down move.
Have a great weekend.
My Current Bitcoin Trading Plan - Dips are For BuyingOverall, I remain bullish on Bitcoin. The Monthly & Weekly MAC strategy is still supportive of looking for buy triggers on pullbacks into the Monthly/Weekly MAC lows. I will be looking for entry triggers on entry timeframes if Bitcoin pulls back into the $56K to $57,500 price range, and would consider still hunting entries if it trades below these levels.
The Daily remains bullish, but there is a MAC selling setup (not confirmed until Williams AD closes below its 57 period MA).
Have a great weekend.
Apple - How I'm Looking to Trade Apple This Week Monthly & Weekly MAC strategy suggests dips into the Weekly &/or Monthly MAC low are good setup areas for going long. Essentially, I'm looking to buy the dip if we get a price move into the levels noted in the video. I would not just be buying the MAC lows. I would be looking for entry triggers on my entry timeframes in those areas.
I also point out that there are some Monthly/Quarterly bearish divergences forming, but nowhere near confirmation, so bulls need not worry.
In short, I'm looking to buy the dip on Apple.
Have a great weekend.
Will the Google trend forward be a Gemini to the current?CAPITALCOM:GOOG is clearly in a down trend, which started in early July. Lower highs, lower lows, and 21EMA below 50EMA since the cross below in semi-late July. It is currently approaching the upper band of the down channel, and a reaction to the downside could be expected. The MACD is behaving somewhat indecisive and not providing useful guidance, which does not signal a change of trend anytime soon. The volume oscillator is trending down. This all points to price continuing the move down. Target $144, or lower band of channel, which might trigger a push up.
uniQure N.V - Positive divergenceOn the above 2-week chart uniQure N.V. price action has corrected 90% without the aid of share splits. A number of reasons now exist to consider a long position. They include:
1) Price action returns to legacy support.
2) RSI resistance breakout.
3) Strong positive divergence as measured over a 2-month period. Look left.
4) No share splits.
5) Price action previously topped out at the Fibonacci 1.414. Were that performance to repeat price action would top out at $215 with a 3600% return.
Is it possible price action continues to correct? Sure.
Is it probable? No.
Ww
Type: Investment
Risk: <6%
Timeframe for long: Qrt 1 2024
Stop loss: Will say elsewhere
Can Anything Stop Broadcom?Broadcom has been one of the top-performing large cap stocks this year. Now, after a period of consolidation, some traders may see potential for further upside.
The first pattern on today’s chart is the August 19 close of $167.71. AVGO initially stalled at this level and struggled to cross it in the first half of September. But it broke out later in September, and this month is trying to hold it. That may suggest that old resistance has become new support.
Second, the recent low was near the rising 21-day exponential moving average (EMA). The 8-day EMA is also above the 21-day EMA. Is a new uptrend developing in the chip stock?
Third, MACD is rising.
Finally, you have the June low of $130.25. Prices couldn’t stay below it when the broader market crashed on August 5. AVGO then proceeded to make a higher low the following month. Those signals may confirm a longer-term uptrend.
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$SPY October 4, 2024AMEX:SPY October 4, 2024
15 Minutes.
Yesterday was sideways as expected.
Today I will not take trade as AMEX:SPY closed below 200 and 100 moving averages in 15 minutes.
If I get a good close above 572 and moving averages converge at close of day, Probably Monday will give a chance to entry.
No Trade Day for me. Today too.