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Crypto ready for a cookoff?Revisiting a weekly chart of a 9 symbol crypto mega cap index (BTC, ETH, XRP, ADA, DOGE, MATIC, SOL, DOT, LTC) one can't help but notice price resting on a shelf that was formed during momentum running deep into overbought territory. As the shelf is more or less flat for many months, we see momentum cooling into saner levels. Price could continue to base out in what turns out to be a bullish flag, especially with the Nasdaq 100 ripping fresh records, inflation cooling, rate cuts likely etc... It's also a scary place to think about going long on crypto though as there's a big gap down to the major support level!
BITSTAMP:BTCUSDShort
by quickshiftinn
AUDCAD - Purple War Zone!Hello everyone, if you like the idea, do not forget to support with a like and follow. AUDCAD is overall bearish trading inside the brown trendlines. Moreover, the green zone is a strong supply zone as we previously had an aggressive movement downward from it. So the highlighted purple circle is a strong area to look for sell setups as it is the intersection of the green supply and upper brown trendline. (acting as non-horizontal resistance) As per my trading style: As AUDCAD approaches the purple circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...) Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
Short
by TheSignalyst
16
$FCEL can rise in the next daysContextual immersion trading strategy idea. FuelCell Energy, Inc., together with its subsidiaries, designs, manufactures, sells, installs, operates, and services stationary fuel cell power plants for distributed power generation. The share price rose after J.P. Morgan analyst Paul Coster had initiated coverage on FuelCell Energy stock with an overweight rating and a $3 price target. The price implies a nearly 40% upside. The demand for shares of the company still looks higher than the supply. These and other conditions can cause a rise in the share price in the next days. So I opened a long position from $2,62; stop-loss — $2,27. Information about take-profits will be later. Do not view this idea as a recommendation for trading or investing. It is published only to introduce my own vision. Always do your own analysis before making deals. When you use any materials, do not rely on blind trust. You should remember that isolated deals do not give systematic profit, so trade/invest using a developed strategy. If you like my content, you can subscribe to the news and receive my fresh ideas. Thanks for being with me!
NASDAQ:FCELLong
by KozakHlib
4
GOLD, XAUUSD Shorting opportunity Momentum TradeGOLD has had a very bullish action with the held of the uncertainty of the Financial Markets in the recent weeks. But the Price action suggests that this Bull run is about to come to an end with a nice head and shoulder pattern forming. If the Price breaks through 1410 levels, we can expect the price to pull back at least 50% correction of the recent move up, towards 1365 levels. These momentum trades you have to only look for a smaller moves as you will be trading against the long term UP trend. Happy Trading!!!!
OANDA:XAUUSDShort
by sk_investments
USDCAD 60min Balance Area Breakout Opportunity USDCAD has had 9 Straight days of Advance and has been VERY Bullish. It's currently in a nice Rising Channel. The Balance Area at the highs looks like Distribution to me. A lot of times this is a "topping pattern". So, I'm waiting for a Break & Close out of the Balance Area (Yellow Box) and will enter a short position. Stops - Will be 1 ATR above the Breakdown Bar. Target #1 - Will be a measured move of the Balance Area (Purple Line) Target #2 - Will be at Minor Support for a downside breakdown. 1.618% for the upside breakout You can see that the RSI has massive Divergence at the highs as well. I will also take the trade to the upside but I think the downside breakdown is the most probable scenario.
by PateSkpate
7
GBPJPY Breakdown ActivatedThe Rising Channel of the GBP/JPY has been broken and has closed below the Channel. I took a short on the first close below the Channel. My stop is 1 ATR is above Breakdown Bar around 187.05's. I listed a few Target's for you guys. Choose them as you wish. I only Trade 2 Targets per my Trading Rules. In order to get this pair we need to see Risk Aversion. All JPY Pairs are tied to Risk Trends. We saw all the JPY's drop (light Risk Aversion, probably not long lasting) overnight and I believe it was a response to Turkey shooting down a Russian Fighter Jet.
Short
by PateSkpate
2