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SPX500 Short Trade SetupHello Traders After the last top, it dropped fast and now, it looks like a correction is in the making. So my forecast is another drop. That's why I'm looking for short trade setups, and to place a pending order, I'm waiting for a reversal structure. The downward impulse can be the C wave inside a correction, which will be completed over the green trendline. That's why I'll hedge my trade when I see a potential reversal to the upside. Trade with care. Bulent
FX:SPX500Short
by WaveAnalysis
1
USOIL Long Trade SetupHello Traders The last low can be the end of the bigger correction, and what has been made after the last low can be the reversal impulse. If so, we should have an upward impulse, which will break the previous top. That's why I placed a pending order and I'm in the trade now. The risk here is the downtrend line. If it's broken, I'll buy more after a bigger correction. Otherwise, I'll close my trade around BE. If you want to take a long trade, I think a small correction over the purple trendline will be a good trade setup. Trade with care. Bulent
OLong
by WaveAnalysis
Gold at a key moment to move forwardHello Traders. Hope you are doing well out there. As I look at gold, i see that it respects very well the Fibonacci levels (as you can see it on the chart) and that makes me believe that if the 50% level holds and gold closes above $1877 then we will see price advancing towards $1920 where the next Fibonacci level is. In extension we can see gold also above $1960 in the next few days. The other scenario, if gold drops bellow the Fibonacci ($1877 ) then we can see the price moving down towards $1833 and from there that could be a very good entry point for longs. I hope that this helps you somehow to get a better understanding of gold movements. Stay safe out there and keep your exposure in check.
OANDA:XAUUSDLong
by opentrader08
EURCAD Short Trade SetupHello Traders My forecast is a downward impulse to 1,49300 for the completion of the weekly correction that has been in the making after the break-out. The 2nd wave was shallower than I expected, but it looks like it's over. If so, the drop after the last top should be the starting of the 3rd wave. In this case, the last upward movement should be a correction. That's why I'm waiting for a trade setup to place a pending order. Trade with care. Bulent
Short
by WaveAnalysis
2
NIFTY 50 - Complete Breakdown of ChartHi Traders, As we breakdown the hourly chart for short term analysis, we have a short term bearish bias on nifty 50 because it is trading below the 50SMA. Nifty 50 has closed below a major support level today. Other Key levels as per hourly chart are between 11458.05 and 11418.18 which can act as a resistance in case of a pullback. We have a support at 10897.84 and 10861.36. Now we will have a look at the daily chart. The daily shows that this counter is inside a support zone(White) and we have a resistance at 11445.87(Green). This resistance can be only for a short term because the daily chart shows we are still in an uptrend because we are trading above the 50SMA. Nifty has broken a trendline to the downside but in can still be a corrective wave. A close below 11077.42(Red) will indicate the start of a downtrend. Note:- This analysis can be used for short term and medium term analysis. We need to breakdown the weekly chart for long term investments. If u have any suggestion on which counter u need an analysis, please comment below. Pls like and follow for more. Happy Trading............
NSE:NIFTY
by Hari_krishnan_S_Kumar
7
Bitcoin Forecast for AutumnFirst, let's take a look at the RSI indicator. It got as close as possible to the overbought line and cannot break through it yet. At the same time, RSI did not show significant corrections for 6 months. Stochastic is already in the overbought zone and is now consolidating there. Also, this indicator has drawn a double top, which may be a sign of a trend reversal. Let's take a look at Bollinger Bands: You can see from the chart that the price has been above the Bollinger average line for a long time. Moreover, the chart pierced the upper border 4 times, which serves as a signal for a reversal in the classical technical analysis. We should also pay attention to the structure of the last candles. They are small in size and at the same time the body of the candles is much smaller than the shadows of the candles. This indicates that there is simply no strength to break through to the upside. We stretched the Fibonacci grid in the first chart to understand where to expect the Bitcoin price in the medium term in the fall. It shows that the closest levels at which Bitcoin can stop is $ 9,700 - $ 10,000, and then $ 7,000. For now, we can see a slight rise in Bitcoin to $13,000, as there is still some headroom to go up. However, this growth is unlikely to become decisive and will be rather manipulative, since there are no preconditions for further growth. We believe that the Bitcoin uptrend will be broken in the near future. There are many prerequisites for this, including long-term growth, starting from March 2020, which, sooner or later, should be significantly corrected.
Short
by Crypterium_Analytics
3