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BTCUSD: Caution Despite Bullish TrendThe chart currently displays a rising wedge pattern on BITSTAMP:BTCUSD , a configuration often preceding a bearish reversal. Despite the recent price decline, the market trend is still upward, and prices are consolidating within the expected range. Currently, the price is positioned in the middle of the wedge's range, indicating a neutral stance. Traders should monitor the price movement closely in the coming days for signs of either continuation or reversal. After the high on November 9, the price action retraced to the 23.60% Fibonacci retracement level, a pattern that is seemingly repeating itself as we observe the current retracement. The RSI indicator suggests that the market is potentially overbought, indicating exhaustion, which could lead to bearish divergence. However, there is still a possibility for the price to push upwards, challenging the resistance zone between $46,000 to $48,000 before any reversal could be confirmed. From a trading perspective, the Bonsai indicator has not signaled a short position yet, hence our current long position. However, given the rising wedge formation, we are taking partial profits and closely monitoring for any indication of a trend reversal. In terms of recent fundamental news, Bitcoin has seen a mix of potential bullish drivers, such as increased adoption by mainstream finance platforms and positive developments in blockchain scalability solutions. Yet, these factors don't guarantee continued price increases; past market cycles have shown that Bitcoin can experience significant corrections despite positive news.
by bonsai_trade
Godrej Properties Intraday tradeThere is a symmetrical triangle formation on 30 Mins chart of godrej properties. Triangle can breakout above or below the respective trend lines. Wait for the candle to breakout and close above or below trend lines. This will be very short term trade and should be completed in one or two trading sessions. Breakout level above = 1400 Breakout level below = 1384 Target = + 20 or -20 above or below breakout level stop loss = 2% below breakout levels
NSE:GODREJPROP
by Neeshant112
2
Bitcoin 1 Hour scale in reference to the previous 4 Hour postSO, in regards to the 4 hour post and to further confirm the slight standstill, the 1 hour chart shows long wicks against the roof. In all honesty, beating that while being fresh out of the RSI seems rather difficult if there is no huge momentum going on. I suggest playing it safe on the option side of things and entering in accordingly such as finding verified rejections off of that platform. Play safe and stay calm.
Short
by Cordali
NQ Power Range Report with FIB Ext - 12/21/2021 SessionCME_MINI:NQH2022 - PR High: 15732.75 - PR Low: 15671.00 Evening Stats (As of 11:40 PM) - Gap: = N/A - Session Open ATR: 336.27 - Volume: 32k - Open Int: 211k - Trend Grade: Neutral - From ATH: -6.0% (Rounded) Key Levels (Rounded - Think of these as a range) - Long: 16391 - Mid: 15819 - Short: 15247 Keep in mind this is not speculation or a prediction. Only a report of the Power Range with Fib extensions for target hunting. Do your DD! You determine your risk tolerance. You are fully capable of making your own decisions.
CME_MINI:NQH2022
by mv3trader5
ETH USDT : Impulsive move or Pull back to previous levels?Hello guys, hope you are doing well. Welcome to today's market analysis as a part of "Aglogains - Daily Trade series". Ethereum is stuck in a range between 3200 - 2900 for the last 2 days, it looks like the market is consolidating here for a while given the fundamental news (US Infrastructure Bill) and other market factors. Here are the two scenarios that could play out: 1. Either we need to see ETH breakout to form a new higher high and close above 3200, to confirm the continuation of the uptrend. 2. ETH could pull back to 2990 - 2900 levels to retest the support. I suggest we wait until one of these scenarios plays out , if it does, here is how we can prepare to take advantage of the move. Scenario 1: If ETH does breakout of 3200 with an impulsive move towards the upside confirming the continuation of the uptrend then, I would look for buying opportunities on the pullback @ 3160 - 3200 Scenario 2: If ETH goes down to the 2990 - 2900 levels to retest the support, I would pay close attention to any wick rejections or bullish engulfing candles to indicate buying pressure at these levels and enter a long trade here. Let's see how the market plays this one out. Do let me know if you have a different way to leverage the current price?
by Nihanth_Aglogains
BTC thoughtsFor this analysis to be legit is needed bullish close and touch at least to 28K. If that happens rally continues and everything goes like planned. If not then S2F,RainbowChartBTC will fail, we have support at 20K and still a trendline in some-way. Crypto will be less volatile in the future so every scary 50% drop is 100% profit chance, seems great right ? It's money doubler in any way if you are new to crypto then you should hold and not be looking at the charts. Price is lagging indicator of fake value, Because crypto is new and volatile nobody knows what's it's worth. This idea is neutral, only time will tell. One bearish thing is RSI. topped out at 91 points. Crypto is the future. Or the biggest Scam. Choose it wisely.
INDEX:BTCUSD
by bizmatej
LTC/BTC has me cautiously optimistic I'm observing LTC here as it has decisions to make. Either down, up or sideways. Speaking with fellow traders whom's opinions I respect and have more experience than I have. I've been warned that LTC seems to like to fake out. Thus I'm neutral on this and it definitely isn't a call . I'm not going to let the bullish signs of reversal I see put me in a long bias just yet. Rather I'll be using this as a learning experience and be following it's steps (hopefully gradually stepping up) . As the adage goes "Markets like to take the steps up and the window down". FA observations: 1. It's been in price discovery for a while looking for it's bottom ;) 2. It's bounced off the support line and may be forming a V bottom reversal and could possibly look to put in a HL from here 3. I'm seeing bulls stepping in and buying these lows I'm publishing this idea so that I may keep it in the back of my mind and maybe in yours? I do think when LTC starts moving it's going to be one for the books. And with that I would like to wish everyone a happy Easter and do spend this time with loved ones (especially parents, while you still can) # Obligatory Disclaimer My ethos at the onset is best described by the following acronym K.I.S.S (Keep it simple stupid) I use this mantra to ground myself, because nobody "outsmarts" the markets, even the legends only had a big brain understanding of them, you will always be the student. Make peace with that fact. Also I'll be sticking with simple charts that show my analysis of assets and won't be cluttering with the indicators I'm using, I'm not an educator. There are many other education channels here on TV and great senpai's curating them. If most of what I said above doesn't make sense, my advice is don't put your hard earned money in ( And most importantly none of this is financial advice, don't come crying and moaning at me if/when you lost your lunch money! ) And with that ladies and gents , always K.I.S.S before you get F'd
by JohntradesWicks
2
EURZD is interesting for practice and educationEURNZD looks amazing for buy and for sell at the moment. We have to be careful here because, every wrong mindset can take a part of our stake. As a trader, your job is to ignore your hopes and picture you are looking at first moment, but focus on facts and find all kinds of data we learned in Elitefxacademy educational program. In this case, we have to know that sellers are dominating overall trend and overall territory but buyers did a great job and push price to our H1 Sell players. Those sell players are ignoring buyers and are not interested at price they want to acknowledge. If this is true, buyers are able to break H1 players and continue their ''hopefull buy'' to H4 players. If this is not true, sellers has to break 1.72728 support level buyers have just maintaining at. If sellers will do this then their first target is at 1.71663 which is second support level. For more details acknowledge this analysis based on what we taught you in our Elite program and give us feedbacks. Elite traders, learn, practice and stay educated. Elitefxacademy
by EliteFxAcademy
EURGBPHello Traders Today looking at EURGBP we see too possible directions as always. We currently sit at a resistance level of 0.88000 Price can push up from here Price can retrace to 0.87 and then begin climbing from there So what seems more likely? Not sure. 0.87 has been a great support/resistance level on weekly, but as has 0.88. So I'll leave you, with this! React to the market, the market will not react to you! Follow me for updates during the week and join the discussions on Telegram with "Quickpips Free Chatgroup" - I'll put the link on my status! :) Happy trading Roo :) Please remember I am a hobby trader, this is not financial advice and any losses or gains are your own! Be sure to like and comment on the chart and follow me on trading view.
by RuairidhFX
S&P 500: Market at decision point between rally or mild pullbackIf the "S&P 500" breaks above 2815, then the rally is going to continue strongly higher for months. But if the "S&P 500" declines and stays below 2725 until the end of August then there remains a risk of a large stock market crash. Short-term the market is oversold and could break out above 2800 or a little higher towards 2815. Mid-term the market is way too overbought. Therefore there is a risk of a pullback down to 2750 or lower. Long-term the market is neutral at a tipping point here. Due to this divergence between the short-term and mid-term trends.
SP:SPX
by ChartArt
1
Neutral point established. Crypto-Vegas mode for nowBitcoin currently in no-man's land. Breaking bear from here would confirm the bear flag established from the last 5 days. Meanwhile, breaking bullish will require a solid close above $12,000 to get out of its "funk". Buy-the-dippers have a support line between $7,000 and $8,000 - otherwise - see "Lots of Bears" on RSI chart. Would sleep on it. There's no opportunity here unless you want to roll some dice. Welcome to crypto-vegas baby.
BITSTAMP:BTCUSD
by Nezah
GBP/USD does not succeed to climb above 1.3400GBP/USD does not succeed to climb above 1.3400 Despite adoption of tax reform and release of various macroeconomic data, the British Pound is continuing to trade against the Dollar in a two-week long symmetrical triangle whose upper boundary simultaneously represents the slope of a larger falling wedge pattern. Because of an empty economic calendar as well lower liquidity the cable is expected to remain within the above patterns today. In the meantime, an allocation of pending orders suggests that traders are rather eager to acquire the Sterling, which is contrary to the generally bearish market sentiment. From daily chart perspective, it looks like the pair will make inch higher from the triangle due to support set up by the weekly and monthly PP located around the 1.3370 mark.
by UnknownUnicorn890690