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Moving_average

AUDJPY: Possible upward continuationThe AUDJPY currency pair has rebounded after touching a yearly ascending trendline on the weekly chart. Current indicators suggest that the uptrend is still intact, but a price level of 91.10 must be surpassed for confirmation. On the 4-hour chart, the price is moving above the 100 and 200 moving averages and forming higher peaks within an ascending channel. The price has now reached a support area due to touching the ascending trendline and the 23.6% Fibonacci retracement level of the 100 moving average. The expectation is that the price will continue to rise beyond the current resistance level. ---------------- Please share your thoughts in the comments and support the idea by liking it. Follow us for more trading ideas. Your support is appreciated.
Long
by Candlestick_OB
NKE - CUP (& handle?) in the makingA "CUP" formation (with or without the "handle") is usually a consolidation period after the stock has run up. NKE ran 60% since its capitulation low @ 81.74 on 3rd Oct 2022 to a high of 130.92 on 2nd Feb23 before it began to "consolidate" for the past 2.5 months. It looks like it could attempt to retest the last high @ 130.92 in the coming days. Once it reaches this level however, whether it would break up soon after or instead begin another smaller consolidation (to form a "handle") remains to be seen. With earnings expected only in late June, it is possible a breakup above 130.92 may not happen so soon. Those who are invested need to remain patient as the longer term trend is still looking good. Short term trader would wait for a confirmed breakup of the neckline 2 @ 130.92 to initiate a Long trade. Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
NYSE:NKELong
by Juliac
Fantom outperform Bitcoin?Hello I'll start to make once per week update from some chart now on, so better stay tuned. Fantom looks really good against Bitcoin as long as price stays on top of that key level which I marked clearly with arrows . You can see from the chart what happened last time it broke that level. If we can't hold the level I let my risk managment do the work and look for new opportunity if the price comes back on top We can also break and retest the level which actually happens quite often if you stay patience Ethereum has also been outperforming Btc for 2 weeks now so that would support this and maybe move some money to alts. Everything depends of the Bitcoin Dominance chart. Let's check some bigger time frame also Not financial advice If you do take trades always use stop loss! 1st mistake novice traders do I don't use them and their ass burned! Check out my previous work "I think bottom is in" -Palén
Long
by PalenTrade
GBPUSD expected to bounce off support levelsThe GBPUSD has experienced a rapid decline from the upper edge of the ascending price channel to the lower edge, where it settled at 1.24128. It is also currently above the weekly support line, Fibonacci level of 38.20%, and a rising trendline. Additionally, the price is only 20 pips above the 100-period moving average for the 4-hour timeframe. It is expected that the price will respond to the local weekly resistance, the rising trendline, the moving average, and the Fibonacci level by moving upwards to make a correction towards 1.24470, possibly reaching 1.24585. However, if it continues to drop and breaks the rising trendline, and then confirms the break by going below the 100-period moving average, it is likely to continue the decline towards 1.2325. The idea of a potential decline is supported by the existence of a divergence between the last two price peaks, indicating a lack of strength and momentum to support further upward movement.
Long
by Candlestick_OB
4
NQ - update: Within "normal" correction (so far)A "correction" can be very much expected after every few days of running up. The bull is very much intact if NQ can stay above 12,800, with Potential resistence-turned-support @ 12,850. (worst case support @ 12,500, the most recent pivot low). The 200 day Moving Average is slightly curving up now too. As long as one isn't a short term / day trader, just stay the course unless we see a break down of near term supports. So Let's see. Picking the right stocks is important too, unless the market gets euphoric and every Tom, Dick and Harry stocks starts to run. Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
TVC:NDQLong
by Juliac
DKS - ready to climb again into ATH?Many stocks have been climbing the "wall of worry" in a choppy fashion. But the fact remains that many of these stocks are still climbing. It is also important to try to pick stocks that are already showing some positive attributes (eg those that were breaking out of a base formation or already started to move above the 200day moving average etc). Whether to sit tight through steep retracements or to swing in and out depends on one's entry level and risk tolerance. Despite being choppy with retracements of at least 50-60% of each mini upswings, DKS has been on the uptrend since Nov last year, trading not only above it's 200 day MA but also above it's upward sloping 50day MA since 27 Dec. It eventually broke above a longer term horizontal resistance @ 137 on 7 March (after earnings beat) but soon started yet another steep retracement. This time all the way back down below this "resistance turned support" level, just to fill the gap @ 133 and then started to rebound yesterday. A bullish divergence (between price and RSI) is now apparent. Hence, it is probably ripe to long this recent pullback as soon as price starts to go above yesterday's candle high @ 139 with initial stop loss just sllghtly below the recent pivot low at 133. Let's see if this "resistance turning support @ 137" is going to hold this time as DKS begins it's journey into ATH (all-time-high). Manage with trailing stops. Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
NYSE:DKSLong
by Juliac
GOLD Bearish SignsHello Traders I think the Gold price Stabilized under 1880 area and its time for more decreases. As you can see on my chart we Broke 1880 support Area with a Long Red Belt candle. and after pullback to this area now its time for a few crash. I thnik the Gold price decrease till area created by 38.2% Fibo Retracement of last long leg (yellow channel above) and a strong support level around 1800 and 1820. Also the price Breaks 50EMA and Retest it too. JUST... If you take a TRADE , DONT FORGET TO SET A REASONABLE STOPLOSS. Thank you all for reading my idea. please teach me something in comments.
TVC:GOLDShort
by TraderAmin-KZ
CRM - approaching neckline @ 195CRM had been basing for about 10 month now (since last May), the first sign that the worst could be over was when it broke above the 200 day movving average on 27 Jan, then a retest of this MA a month later on 27 Feb which validated the 200 day MA as the new "support". Several days later on 2nd Mar, it gapped up strongly on earnings beat, stopping right at a significant neckline around 195. Then proceeded to pullback and almost closing the entire gap in the coming days. While the stock has been staging a recovery since hitting the low in Dec last year, it also experienced steep pullbacks on the way up. Buying the dips would certainly had been a better option in this chopping conditions. Despite the volatility, what is clear however is that the stock is still on it's way to recovery, forming higher hi's (HH) and higher lo's (HL), with RSI staying at 50 or higher since early Jan, and a Golden Cross since 10 Mar. It could attempt to break the neckline @ 195 again in the coming days and if and when it is finally able to break and stay above this level, then we could (hopefully) see more a more steady rise with pullbacks that are less steep (ie within 50% fib retracement of each mini up swing). And the next target could be around 220. We can "predict" price targets but it is important to manage our risk with trailing stop losses and see what the market gives us. Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
NYSE:CRMLong
by Juliac
#UK 10Y Yield tests it 200-day maYet another example of a market mean reverting to its long term 200-day ma at 3.13 and attempting to stabilise. We have seen SVB collapse and UBS take over Credit Suisse and during this market turmoil, as at other times, we are likely to see markets mean revert to their long term moving averages - particular attention should be paid to the 200 and 55 week moving averages. Disclaimer: The information posted on Trading View is for informative purposes and is not intended to constitute advice in any form, including but not limited to investment, accounting, tax, legal or regulatory advice. The information therefore has no regard to the specific investment objectives, financial situation or particular needs of any specific recipient. Opinions expressed are our current opinions as of the date appearing on Trading View only. All illustrations, forecasts or hypothetical data are for illustrative purposes only. The Society of Technical Analysts Ltd does not make representation that the information provided is appropriate for use in all jurisdictions or by all Investors or other potential Investors. Parties are therefore responsible for compliance with applicable local laws and regulations. The Society of Technical Analysts will not be held liable for any loss or damage resulting directly or indirectly from the use of any information on this site.
TVC:GB10Y
by The_STA
Great shorting entry point on SPX as it hits resistanceOn today's CPI report, inflation rose 0.5% in January, which was higher than expected (according to CNBC ), yet the market rallied. With this rally, the market is hitting a supply zone, which was the swing high for two of the most recent swings. In the shorter term, it has also been seen that the recent rally has been rejected twice at the bottom of this supply zone, which corresponds with the 0.236 Fibonacci level, showing strong resistance. Furthermore, SPX is hitting its 300-day SMA, adding further resistance. Back in 2008 when $SPX approached its 300-day SMA after the first part of the fall, a 50% drop in the S&P 500 followed over the next year. To trade this, I have entered a short position. Disclaimer: This is not financial advice, I have never worked professionally in finance in any capacity.
SP:SPXShort
by spiritualhealer117
3
NQ - still (cautiously) bullish despite the volatilityDespite all the uncertainties and volatility in the market, the US indices especially Nasdaq has been resilient. Nasdaq has led the run up since the start of this year and as long as NQ continues to be in the lead among the 3 major indices (namely NQ, SPX an DJI), the market could remain overall bullish. The most recent "fearful" event (collapse of SVB) last week brought Nasdaq down briefly below it's 200 day MA but the reversal back up was just as quick once this problem was deemed contained. The new support is now established at 11700 (just slightly below the 50% fibonacci retracement of it's bullish AB swing, or 200 points (1.7%) below its 200 day MA @ 11900) The weekly chart painted a clearer view of it's bigger direction: A basing formation that has begun since hitting "the" low last October and a strong rally that ensued since the start of this year. Then a protracted 50% pullback of this rally in the past 6 weeks forming a potential "bull flag". A break out of this flag will be a good start that the upward momentum is continuing. Nasdaq first traded above the 200 day MA on 26 Jan and had retested this MA several times since (very briefly each time). This 200 day MA is hence still proving to be a support so far (though it has dipped briefly below that again last Friday on "panic"). As long as Nasdaq can continue to stay above the 200 day MA, then mid term trend is likely still up (worst case, the bull could be sluggish and choppy). Should FED raise interest rate again next week, then we could have another knee jerk sell off. However that could also mean that the economy isn't weak enough for Fed to want to stop raising the rates, it's a Goldilock situation. But let's see how the market reacts (once the knee jerk reaction, if any, begins to fade). The longer term bulls would be better off sitting tight or buying the dips unless we see a clear break below the 200 day MA. Short term trader will probably love this volatile market trading both ways. p/s SPX is now just under it's 200 day MA (red flag still), the coast will be clearer (for the bulls) if SPX could also start to have a close above this MA. Let's see. Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
NASDAQ:NDXLong
by Juliac
During periods of volatility markets mean revert to long term maDisclaimer: The information posted on Trading View is for informative purposes and is not intended to constitute advice in any form, including but not limited to investment, accounting, tax, legal or regulatory advice. The information therefore has no regard to the specific investment objectives, financial situation or particular needs of any specific recipient. Opinions expressed are our current opinions as of the date appearing on Trading View only. All illustrations, forecasts or hypothetical data are for illustrative purposes only. The Society of Technical Analysts Ltd does not make representation that the information provided is appropriate for use in all jurisdictions or by all Investors or other potential Investors. Parties are therefore responsible for compliance with applicable local laws and regulations. The Society of Technical Analysts will not be held liable for any loss or damage resulting directly or indirectly from the use of any information on this site.
U
by The_STA
SPX - Could be still whipping in a wide rangeAt the start of February, SPX saw a number of "affirmations" that the uptrend was underway: 1. broke up and continued to trade above it's longer term trendline resistence 2. traded above its 200 day MA since 24th Jan 3. followed by a Golden Cross on 1st Feb However the month of February began to see momentum evaporate as the index began to pullback below it's 20, then 50 days MA and finally stopped short at its 200 day moving average. There are now a confluence of immediate "supports" coming up between 3920 to 3949, namely: 1. the 200day MA @ 3940 2. the long term trendline resistence that could have turned support 3. 38.2% fib retracement of the big AB upswing that began from Oct's low @ 3920 4. which is also the 61.8% fib retracement of the more recent BC swing Therefore we need to see some rebound this week if the this pullback is just a breakup and retest of major prior resistences or something more bearish (which mean breaking below 3920). A look on it's monthly chart showed that SPX had been mostly whipsawing within a wide sideway range of between 3585 to 4150 for the past 9-10 months and it is possible we could have more of that (think "STAGFLATION"). Hence unless we see some rebound this week or it could likely be a short term trader's arena right now (ie high volatility, short term swing ups and downs). Can only wait and see. Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
SP:SPX
by Juliac