ASX 200 futures look set to bounceThe Nasdaq reached a record high and the S&P 500 is close to reaching its own record high. So while the Dow was lower for a fourth day, 2 out of 3 indices rising could help support the ASX today.
It's been over a week since the ASX began retracing from its record high, and with prices now trying to form a base above the monthly pivot point and historical weekly VPOC (volume point of control), I'm now looking for longs.
The ASX has opened lower but remains within the overnight range. Assuming prices hold above the spike low, the bias is for a move higher to last week's VAL (value area low) or VPOC.
Multiple Time Frame Analysis
Why we don't trust this bounce on AUD/JPYMy short AUD/JPY bias sprang into action quicker than I expected two weeks ago. While support has since been found, it looks like it wants to retrace against that initial drop. Yet I have my eyes on the bigger (and more bearish) prize, and when comparing this cross to other yen pairs, I suspect another leg lower could be due when the current bounce fizzles out as anticipated.
MS
ALFEN in 600% rally to 60 euro? ** investment opportunity - European stock! **
A focus on European stocks for a change. The US stock market is becoming increasingly overbought with opportunities few and far between for long term investors. A look overseas provides some attractive opportunities.
As Europe transitions towards greener electricity generation so does the demand for infrastructure. One such company seeking to meet that demand is Netherlands based company ALFEN, which:
“engages in the development, production, and sale of products, systems and services related to the electricity grid. It focuses on smart grid solutions, electronic vehicle charging equipment, and energy storage systems for businesses.”
The TA:
On the above 4 day chart price action has corrected 90% since August 2022, a number of reasons now exist to consider an investment in this micro stock. They include:
1) Price action and RSI resistance breakouts.
2) Price action on legacy support (see monthly chart below).
3) Regular bullish divergence. Multiple oscillators print positive divergence with price action.
4) The 60 euro range is 1st significant resistance upon legacy support confirmation.
Is it possible price action continues correcting? Sure.
It is probable? No.
Ww
Type: Investment
Risk: You decide
Timeframe for long: Remainder of 2024
Return: 500-600%
Stop loss: Elsewhere
Monthly support
Rigetti Computing, Inc. to print a 70% market crash ??** short trade - weeks ahead **
On the above 2 day chart price action has rocketed up 800% in the last 60 days. Now is a good moment to be “short”, why?
1) Price action meets flag forecast.
2) The forecast area is also monthly resistance.
3) Price action is multiple sigmas from the Bollinger Band Mean. Do not forget, 95% of all price action trades around the mean.
4) First support is around $2.35
5) Everyone else on tradingview is long. WW is a contrarian, that means he opposes popular opinion.
www.tradingview.com
Is it possible price action continues going vertical? Sure.
Is it probable? No
Ww
Type: Short trade
Timeframe for short entry: 48 hours
Risk: You decide
Return: 70%
GOOG watch $196.46: Golden Genesis fib to cause Dip or TopGOOG has been rising and then spiked on some news.
Now at a Golden Genesis fib sure to cause a reaction.
What happens here will give clues about its strength.
It is PROBABLE that we orbit this fib a few times.
It is PLAUSIBLE to dip to one of the fibs below.
It is POSSIBLE that we have a significant top.
SUI: Short term running out of steam?SUI remains in a bullish structure, but the confluence of resistance signals—RSI levels, Fibonacci extensions, and historical patterns—suggests a temporary pause or pullback. If other altcoins present better setups, it’s wise to consider reallocating. Additionally, retaining a portion of SUI for the potential continuation of the 4-year cycle rally aligns with a balanced risk strategy.
Healthy Moving Averages: The position of moving averages on daily and weekly timeframes indicates the uptrend remains intact, offering potential for continued bullish action.
RSI Considerations:
Daily RSI Convergence: Suggests momentum is slowing as price approaches resistance. This could lead to a reversal or consolidation.
Weekly RSI at 80: Historically, this level has coincided with peaks in price action, signaling overbought conditions.
Fib Extension Target: Price hitting the peak Fibonacci extension from the first pump confirms a key resistance level. This often acts as a natural barrier where profit-taking occurs.
Historical Behavior: SUI’s tendency to lead altcoin rallies and its earlier slowdown in early 2024 suggests a repeat cycle where it might again cool off before other assets.
4-Year Cycle Potential: While there’s room for another major run to the upside, the signals you’ve highlighted suggest a short-term pullback or consolidation phase before the next move.
Additional Considerations
Profit-Taking Strategy: Rotating profits into stronger or earlier-stage setups within the altcoin market may optimize your returns while mitigating risk.
Market Sentiment: Broader market dynamics (e.g., BTC dominance, macroeconomic conditions) could influence SUI’s trajectory and its correlation to other altcoins.
Volume Confirmation:
Monitor for any divergence between price action and volume; declining volume on upward moves could signal weakening momentum.
BTC 1h updateSince 9 PM on December 11, the 1-hour chart shows an uptrend, with support levels forming at 99,587 and 100,309. A double-bar spring appears to be developing at the 100,309 support, with the first bar showing a notable volume spike and the second bar still forming. If this spring completes and confirms, the price could rise toward the next resistance level. After the spring, the 5-minute chart may offer a good entry point for a long position.
30% correction to 70k next for Bitcoin ?? — December 3rd, 2024** short term forecast, days and weeks ahead **
On the above weekly chart price action leaps up 40% since all of 30 days ago. A number of reasons now exist for a bearish outlook. The include:
1) Price action and RSI support breakouts.
2) Regular bearish divergence. Multiple oscillators now print lower highs with higher highs in price action.
3) Price action is outside Bollinger Band on the weekly. Remember 95% of all price action trades around the mean, which is currently $70.2k
4) Hanging man candle print. A perfect example of buyer exhaustion.
What does this means for alt tokens? That depends. Overbought tokens (XRP, Dogecoin, XLM, etc… ) they will join the correction with Bitcoin. A select few will enjoy the liquidity that comes from them. Do you know which?
Is it possible price action continues to rise? Sure.
Is it probable? No.
Ww
40% rapid descent for United Airlines holding, IncOn the above monthly chart price action has enjoyed a 180% upward move. There is evidence in the chart for a strong pivot, which includes:
1) Price action strikes legacy support for resistance test.
2) No market structure backtest to confirm support on breakout. A 40% correction is required to confirm.
3) On the 5 day chart (below) 17! Green candles print until market resistance. This is the strongest rally ever in the history of this stock before a market pivot. Previous to that was the 9 straight green candles on October 2016, which was followed by a 25% correction.
4) Short interest, 4%.. the market is far too bullish.
Is it possible price action continues to rise? Sure.
Is it probable? No.
Ww
5 day
DXY Formed Wave Pattern!Looking for Impulse Up.
DXY formed 1,2,3,4,5 & a now wait for wave b to get in with wave c. It's important to have your own rules on RR and adhere to them. This trading idea is intended to assist you and enhance your knowledge. If you have any questions, please ask me in the comments.
Learn & Earn!
Wave Trader Pro
XAU/USD 12 December 2024 Intraday AnalysisH4 Analysis:
-> Swing: Bearish.
-> Internal: Bullish.
Bias/analysis remains the same as analysis dated 25 November 2024. Awaiting candle closure to confirm bullish iBOS
Price Action Analysis:
As mentioned in yesterday's analysis dated 24 November 2024, whereby price was expected to print a bearish CHoCH. This is how price printed.
Currently, price is trading within an established internal range.
Intraday Expectation:
Price is anticipated to trade down to either discount of internal 50% EQ, which is marked in blue, or H4 demand zone before targeting weak internal high priced at 2,721.420.
Note:
With the Federal Reserve's dovish stance and persisting geopolitical uncertainties, heightened volatility in Gold is expected to continue. Traders should proceed with caution and adjust risk management strategies in this high-volatility environment.
H4 Chart:
M15 Analysis:
-> Swing: Bearish.
-> Internal: Bearish.
Price Action Analysis:
As highlighted in yesterday's analysis dated 11 December 2024, price was expected to print a bullish iBOS to narrow the internal range, and this is precisely how price printed.
Following bullish iBOS, price printed a bearish iBOS.
We are now trading within an established internal range. While price has not yet printed a bearish CHoCH, it has traded up to the premium of the 50% internal EQ.
Intraday Expectation:
Price is currently trading within the premium of internal 50% EQ. Technically, price is expected to target the weak internal low at 2,700.810.
Alternative Scenario:
Price may potentially seek further liquidity to complete a bullish iBOS on the H4, therefore, bearish momentum may face limitations.
Note:
With the Federal Reserve maintaining a dovish stance and ongoing geopolitical tensions, volatility in Gold prices is expected to remain elevated. Traders should exercise caution, adjust risk management strategies, and stay prepared for potential price whipsaws in this high-volatility environment.
M15 Chart:
BTC DOMINANCE- BEARISH AFLife and Trading: Decisions Shape Outcomes
Life can shift dramatically in a single day—either for the better or worse. Everything boils down to the decisions you make, whether in heated moments or calm reflection. When chaos and panic dominate, your best refuge lies in creativity, knowledge and balls.
During the recent shakeout, I stayed silent—not because I lacked an opinion, but because moments like these require clarity. It’s like a car crash—you first ensure your safety before analyzing the damage. So, I distanced myself from the noise and dove deep into the charts.
Key Observations: Bitcoin Dominance
Bitcoin dominance, a critical indicator during altcoin crashes, was rising but met resistance at significant levels. Bearish arguments at that time included:
Weekly Bearish FVG respected
Daily Bearish FVG respected
Trendline retest confirming the break
Current Bearish Arguments:
PMH & PML respected
PWH & PWL respected
Weekly and Daily Bearish FVG respected
4H swing highs/lows respected
4H Bearish FVG respected
Strategy:
Given these signals, it’s tempting to go all-in on altcoins. However, I anticipate a ranging market until Christmas, followed by a dip below the 50% level—a precursor to a true altcoin bull market.
Be cautious: I expect another shakeout around December 18 or 23, where I plan to take significant positions. Always have a clear entry and exit plan to navigate these volatile waters.
Follow me to stay updated, and remember—this market rewards patience and preparation.
God bless you.
-Jay
EURUSD Chart AnalysisI follow Photon Strategy:
Weekly: Lot of LQ below 1.04264
4H:
Swing: Bearish
Internal: Bullish, Pulled back below EQ
M15:
Swing: Bearish
Internal: Not yet turned bullish, may happen during the London session
Sells: At extreme POI, 1.05242 will be HP
Buys: After Asian low LQ taken out will be HP
4H Chart:
CHFJPY: Intraday Bearish Move Confirmed 🇨🇭🇯🇵
I think that CHFJPY may retrace from a key daily horizontal resistance.
I spotted a formation of a symmetrical triangle pattern on an hourly time
frame after its test.
The breakout of its support line indicates a local strength of the sellers.
We can expect an intraday bearish movement at least to 171.82 level.
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BTC 1h updateIt looks like the market's been moving sideways on the 1-hour chart. Yesterday, December 10, 2024, the price slowly climbed to the resistance level at 98,341 and then took a sharp dive. We were hoping for a more obvious fake-out at that resistance, but instead, the price just touched the level and dropped. After that steep fall, buyers pushed the price back up, but with less volume than during the drop.
Given that the daily and weekly charts show resistance around 100,000, I'm expecting a clearer fake-out at the 1-hour resistance level, followed by a drop to the 1-hour support. Since the daily chart also shows a sideways movement, it's not too far-fetched to think the price might hit the daily support around 90,800. Let's wait and see how things play out.
CRUDE OIL (WTI): Pullback From Key Level
Crude Oil looks overbought after a yesterday's bullish movement.
The price may retrace from the underlined blue daily resistance
at least to 69.9 price level.
As a confirmation, I see a double top pattern on an hourly time frame.
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XAUUSD BuySetupHi everyone.
As we broke the structure stronger than previous one with higher volume, so I think this trend is going to continue to meet the weekly orderblock.
I think this area is good to set an order.
This order has a tight SL, so please consider the risk management.
I'll send another setup for this entry in the comment below. don't forget to check it ;)
Dear traders, please support my ideas with your likes and comments to motivate me to publish more signals and analysis for you.
Best Regards
Navid Nazarian
Why BATT Could Be A Great ETF To Buy & HoldHere I have AMEX:BATT Amplify Lithium & Battery Technology ETF on a Multi-Timeframe Analysis with a Monthly & Weekly Chart!
Technicals:
Starting with the Monthly Chart, taking the Fibonacci Retracement Tool from the All Time Low @ $5.91 to the All Time High @ $20.78, we see that the Selling Pressure is waning with the Price Exhaustion happening in the Fibonacci 78.6% - 88.6% "Kill Zone" Range from ( $9.09 - $7.61 )
-Bears are losing grip on the asset
Zooming down to the Weekly where Price has visited the Kill Zone, we can see a ICT Concept Method called the Bullish Order Block taking place!
After Price found Support, Price created a New Swing Low Breaking Sellside Liquidity, then shortly after, Breaking Structure again while surpassing the Swing High!
-The Week Starting Monday, 29th of July 2024 creates the Bullish Order Block we should suspect Price to revisit before continuing its Uptrend behavior.
-This High of the Weekly candle sits right at the Upper Limits of the Support Zone and at the 50% Fibonacci Retracement Level!
**Price also could potentially make a deeper Retracement to the 61.8% Level to visit the LH it created before Breaking up through the Support Zone!
-Will be looking for Buy Entries in the ( $8.96 - $8.67 ) Range!
Fundamentals:
Lithium Stocks hit alot of hype in 2023 with the expectations of the EV Industry being our Near-Future way of transportation as a move toward a greener way of living!
EV sales wax and wane but as time as gone on, the look for the essential metal and mineral components needed for this industry to boom has began to fill as we are finding more and more vast and rich deposits of Lithium and other Rare Earth Minerals!
-https://www.tradingview.com/news/zacks:e90ae995b094b:0-bullish-views-power-long-term-lithium-etf-prospects/
With that, EV Demand will come
-https://www.tradingview.com/news/benzinga:5ead3a15a094b:0-arkansas-may-be-sitting-on-19m-tons-of-lithium-amid-rising-demand-for-ev-batteries-how-to-invest-in-what-elon-musk-calls-the-new-oil/
** Once Price goes Bullish, I have upcoming Areas of Value that it may contend with on the way up!
USDJPY Trade SetupTime Frame:
- Daily: FVG Identification
- H4: FVG Identification
- H1: Entry Signal
1. Trend Confirmation:
Price has consolidated after the break from support at 153.27, down to 148.64.
Price has now rise to 153.00 area, which is inside H4 & Daily FVG zone.
2. Fair Value Gap (FVG):
On the H4 chart noted a Fair Value Gap (FVG) between 152.75 - 153.00
On the Daily chart also note FVG between 1.5195 - 1.5300
3. Position:
Entry: H1 Engulfing candle Close : 152.29
Stop Loss : 153.10
Take Profit: 144.30 (fibo 161.8)
RRR : 1:9.8x
Note: The price has not yet reflected the end of the consolidation phase, as it has not formed a lower low. Therefore, this trade carries higher risk and a higher risk-to-reward (RR) ratio. To mitigate the risk, it is advisable to wait until the price forms a new low or breaks out of the consolidation trend.
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Disclaimer
The analysis and content provided here are intended solely for personal journal and educational purposes. This information does not constitute financial advice, investment advice, or a recommendation to buy or sell any securities. Trading involves significant risk, and you should only trade with money you can afford to lose. Past performance is not indicative of future results. Always conduct your own research and consult with a qualified financial advisor before making any investment decisions.