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SNP 500 Corrective Price ActionThe SNP 500 $SPY is in a corrective pattern which in EW is called an open diagonal where each subwave of 1-5 subdivides as either 5-3-5-3-5 or 3-3-3-3-3. In this chart, I've counted the diagonal as 3-3-3-3-3. Currently, the SNP 500 is making a zig-zag in (b) before continuing in five waves down to complete ((v)) of A. Currently expecting the SNP500 to go to around 300 before turning up and beginning the B wave. I don't expect to see any corrective rally's until after mid term elections in the US.
AMEX:SPY
by HelioHelix
2
Gold Setup Idea: Pre New York (Sept 27, 2022)Here is my analysis based on price action during the Asia session and London session, it appears we are retracing after making new lows. This means we have a temporary relief of HTF bearish influence and can possibly expect to see some bullish price action today; but it is certainly more risky to buy than to sell gold right now given the current macro economic conditions. I am ultimately looking to sell since I believe there is a higher probability of it succeeding, but if price break london high and shows bullish strength in NY open, forming LTF support above $1640, then buys are certainly possible. What do you anticipate price to do in NY open/today?
FX:XAUUSD
by SoManyDistractions
#OP/USDT 15M CHART UPDATE !!Welcome to this quick OP/USDT analysis. I have tried my best to bring the best possible outcome in this chart. Reason for trade:- OP is trading in an uptrend channel and respecting the support and resistance level. The support is $1.27 area and the major resistance is $1.59-$1.66 area. Try to grab some OP near support level with tight stop loss.$1.24 Remember:-This is not a piece of financial advice. All investment made by me is at my own risk and I am held responsible for my own profit and losses. So, do your own research before investing in this trade. Sorry for my English it is not my native language. Do hit the like button if you like it and share your charts in the comments section. Thank you...
Long
by CryptoSanders9563
Forecast | AAPL | 5 week target priceBias: Positive, Optimistic Notes: Following up from my previous journal entry (please see the link below). Guidance: Over the next few weeks I can see AAPL moving to retest its previous highs; I think the infographic is self explanatory (for the indicator, please see the link below). Signals: Bollinger Bands: late oversold. About the Author: I strive to become one of Tradingview's pinescript Wizards and Top Authors, as well as build a reputable reputation & following. "Don't forget to comment, like, share, and follow me!"
NASDAQ:AAPLLong
by UnknownUnicorn28743597
USDCAD x USOIL - A Peek Into The Future Of Oil 🛢👀USDCAD and USOIL are inversely correlated - meaning when USDCAD goes up, OIL goes down (and vice versa). In the chart we have USOIL at the top and USDCAD inverted at the bottom. It appears that USDCAD is ahead of Oil by around a month or so. When USDCAD started it bearish wave, USOIL was starting its bullish wave (after a month). We recently saw a third touch of a trendline for USDCAD and price rejected nicely and USDCAD is now bullish. We haven't yet seen that for USOIL. We're still yet to touch the trendline for the 3rd time, which will very likely follow USDCAD inversely. FUNDAMENTALS Fundamentally we have reason to believe that in early Feb Oil prices will head lower. Opec Plus is expected to adhere to its current strategy at its February 2nd Meeting, raising its March production target to 400,000 barrels per day. More supply = Lower prices = USOIL Shorts. It just so happens that the third touch of the trendline for USOIL falls around the Feb 2nd - which would give us a perfect reason to short. In conclusion, we have the following reason to short OIL: - USDCAD is leading the way a month early whilst USOIL follows - USDCAD has already hit the trendline for the 3rd time and is bullish - USOIL is about to hit the trendline for the 3rd time and turn bearish - If the OPEC meeting goes well and they adhere to the 400k barrels a day, we will see USOIL move lower. What do you guys think? Do you agree? Did you know about this correlation? Let me know below. Goodluck and as always, trade safe!
TVC:USOIL
by WicktatorFX
11
Strong support area provides a good R/ROpendoor $OPEN has delivered better than expected results in the past 2 QE. The fundamentals are strong and this past sell-off was due to the broad market sell-off. At $13.50-$13.75 range we have a strong support area that should hold. If so the minimum rise should be the resistance area of the range-bound rectangle at around $18.50. Entering a BUY position at the current price would provide 2.5+ R/R which is pretty good. If we can get a small dip down to $14.5 then the R/R rises to 4.44 as shown on the chart. Other notable technicals we can see are: - the price should retrace back to 200SMA around $18-$18.5 area - the retracement would be less than 50% Fibo - the price is really over-sold and a counter-trend leg to the upside is expected Not financial advice, DYODD
NASDAQ:OPENLong
by IboProtrader