USD/CAD teeters on bearish reversal brink ahead of US electionBearish reversal patterns generated by USD/CAD on the daily timeframe have enjoyed a decent track record recently, especially following a pronounced bullish trend. That makes today's early price action interesting, with the price reversing hard after closing at fresh 2024 highs on Friday.
As the daily candle has yet to be competed, getting short pre-emptively screens as a low probability setup. But if we do see a bearish engulfing candle print, it will provide a decent short setup heading into US election day, especially if the price bounces a touch from current levels.
To make the trade stack up from a risk-reward perspective, the price would need to break several nearby levels, including the uptrend from October 15 and horizontal support at 1.3869. If they were to fold, 1.3815 is one potential target with 1.3748 and 1.3700 the next after that. A stop-loss order above Friday's high would offer protection against reversal.
Bolstering the case for potential downside, RSI (14) has broken the uptrend it was sitting in after sitting in overbought territory for more than a week, hinting bullish momentum may be starting to turn. While the signal is yet to be confirmed by MACD, that too is looking like it may soon rollover as it moves closer to the signal line.
Good luck!
DS
Oscillators
The Rocket Booster Strategy Boosted Part 2Trying to find a pattern to trade
has been a challenge..and so in this video
i show you the rocket booster
strategy boosted.
-
First, you need to make sure you
do not trade flat markets..
This is a mistake I have made a lot.
-
Second, you need to increase the amount
of volume you are trading because in the
stock market the traffic can get stuck.
-
Third try your best not to trade low-volume stocks
this is also something I was very fond of doing
Because I was so good at technical analysis
I never understand the power of volume
-
Lastly, you need to create
a combination of trading systems
That will help you identify the best swing trading
Opportunities
In this video we are using the following
indicators:
1-Volume
2-Rate Of Change
3-Moving Averages
Creating a system with a combination of these indicators
should help you build a strong trading system
-
And trading strategy
Watch this video to learn more.
-
Disclaimer:Trading is risky you will lose money wether you
like it or not please learn risk management
and profit taking strategies.
Australian ASX 200 SPI futures look good if you're a bearThe picture for Australian ASX 200 SPI futures look good if you're a bear.
We've seen a bearish engulfing candle on Wednesday with follow-through selling today, accompanied by an uptick in volumes. Momentum indicators are providing bearish signals, too.
But it is month-end and the price does find itself sitting on the 50DMA, a level that has been respected consistently apart from a period between June and July this year.
Even though price and momentum signals suggest selling rallies may work better than buying dips in near-term, unless we see a close beneath the 50DMA, going short beforehand comes across as a low probability play given prior interactions with the level.
If the price closes and holds beneath the 50DMA, you could sell with a stop either above it or 8200 for protection. On the downside, 8080 is the first level of note, but to make the trade stack up from a risk-reward perspective, 7860 comes across as a more appropriate target.
Good luck!
DS
Topside wicks, sagging momentum suggests AUD/JPY break may stickAUD/JPY looks primed for downside.
The price has broken the uptrend it's been sitting in since late September. RSI (14) is trending lower with the bearish signal confirmed by MACD. And one look at the topside wicks above 101.00 suggests sellers are lurking and unwilling to budge.
If the price manages to close beneath the uptrend, you could sell with a stop above for protection. To make the trade stack up from a risk-reward perspective, the 50-day moving average or 98.04 are potential targets.
Good luck!
DS
USD/JPY rally facing fundamental test with US job openings data USD/JPY remains a play on the US interest rate outlook, sitting with an incredibly strong correlation with US two-year Treasury note futures of -0.98 over the past fortnight. When short-dated US debt futures have moved in a particular direction, USD/JPY has almost always done the opposite, mirroring US Treasury yields.
With there's no obvious reversal pattern in US two-year note futures in the right-hand chart, providing reason to be cautious about getting to aggressive, with the first of the week’s major US economic releases on the way in the form of JOLTs job openings for September, the risk of profit-taking in USD/JPY appears elevated.
After a surprise bounce in August, markets are looking for only a minor decline in openings of 50,000 to 7.99 million. Notably, this survey tends to bounce around and we haven’t seen back-to-back increases since late 2022. That hints at the potential for a downside surprise that could spark downside for US Treasury yields and USD/JPY which have run very hard in recent weeks.
If the price holds below 153.19, you could initiate shorts with a tight stop above for protection targeting a return to the 200DMA.
Good luck!
DS
EUR/AUD bounce delivers good news for bullsEUR/AUD closed above the 50-day moving average on Friday after a successful break of 1.6318.
After opening Monday marginally higher, the price pushed lower to retest 1.6318 before bouncing strongly towards the European open, providing the framework for the bullish setup.
It’s not appealing from a risk-reward perspective to buy around these levels with the 200-day moving average in close proximity, so my preference is to wait for a potential pullback towards the 50-day moving average, providing a better entry level while allowing for a stop to be placed below 1.6318 for protection.
The 200-day moving average would be the initial trade target. If the price were to trade through that level, 1.6450 would be the next potential target.
With MACD and RSI (14) providing bullish signals on momentum, the preference remains to buy dips and breaks rather than selling rallies.
Good luck!
DS
Why Smart Money is BEGGING for a Bitcoin Dip (Technical Analysis📈 Why Smart Money is BEGGING for a Bitcoin Dip (Technical Analysis)
MAC Strategy: Your Dip-Buying Blueprint
Monthly and weekly Moving Average Channel indicators are bullish. Here's your shopping list:
- Weekly MAC support: $59,234
- Monthly MAC support: $55,943
These aren't dips - they're gifts. When Bitcoin touches these levels, smart money moves fast.
Ducks in a Barrel Strategy Says "Load Up"
Weekly timeframe say we want to buy the dip. :
- 39 & 52 week MAs trending up and pulling away from each other (bullish momentum)
- Strong uptrend intact in spite of the several months of consolidation..
Perfect storm setup for Ducks in a Barrel:
1. Bitcoin undervalued vs gold/treasuries
2. Stochastic hits oversold at the same time
If you see a Bitcoin dip, REMEMBER: Dips are Gifts.
Stop Missing These Setups
I'll be honest - finding and catching these dips isn't rocket science, but timing is everything. Ready to level up?
- Learn how to implement rules based & non-discretionary trading to become profitable
- Learn to interpret the Commitment of Traders data to gain a major edge in the markets
- Join live market analysis sessions
- Learn my exact entry triggers
- Master risk management
DM me for more information. Serious traders only.
Trading Disclaimer
TRADING CRYPTOCURRENCIES INVOLVES SUBSTANTIAL RISK OF LOSS AND IS NOT SUITABLE FOR ALL INVESTORS. Past performance is not indicative of future results. The information provided in this analysis is for educational purposes only and should not be considered financial advice. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change without notice. I am not a licensed financial advisor. All trading decisions and consequences are your responsibility.
Natural Gas is Ready For a Commercially Driven Bull MoveNatural gas is nicely setup for longs if we get a confirmed bullish trend change on the daily.
-Extreme commercial long positioning (most long they've been in the last 3 years) - bullish.
-Investment advisor sentiment very bearish - which is actually bullish.
-Undervalued vs gold & treasuries - bullish.
-ADX under 40 while commercials got extremely long - bullish.
-Bullish spread divergence between front month and next month out - bullish.
-Small specs at extreme in short positioning - bullish.
-True seasonal & some cycles are not supportive of going long, but these are the last things I look at. Enough indicators are supporting longs that I'm not going to worry about this.
-Bullish momentum divergence has triggered on some high timeframes, implying much higher prices are on the cards for Natty. There is also some smaller bullish weekly divergence currently setup (but not confirmed).
Have a good week.
COT Analysis - Currencies - DXY 6E & 6M SET UP FOR TRADES!COT analysis shows that the Euro and Mexican peso are nicely setup for longs upon a confirmation of bullish trend change on the daily. The only "fly in the ointment" here is that the DXY commercial positioning is still very bullish, which is a bit of a mixed signal. Ideally, we like to see the DXY & majors give opposing signals simultaneously.
That being said, 6E & 6M are nicely setup for longs upon a confirmed daily bullish trend change.
Have a good week.
USD/CHF looks heavy despite relentless USD strength The Swiss franc has held up remarkably well this week despite some of the G10 FX moves against the USD.
Sitting in a rising wedge, it was rejected at uptrend resistance on Wednesday, deliver an inverse candle on the daily. The price now finds itself resting on uptrend support and looks heavy. RSI (14) has diverged from price but the bearish signal on momentum has yet to be confirmed by MACD, although the latter also looks toppy.
One short setup would be to sell now or on a break of the uptrend with a stop above Wednesday’s high for protection against reversal. The initial target would be .8617 although, to make the risk-reward stack up, it would be preferable to target the 50-day moving average.
Good luck!
DS
1 Hour Squeeze on $AMZN & $QQQ for and EXPLOSIVE move this week!- I like this setup on the 1 hour time frame. Looks very explosive
- Previous week was a Failed2UP Candle (Red week prev. week)
-Bullish candles on daily out to the yearly time frames
-1 Hour Squeeze
-Inside Week
-This setup could lead to weekly break out
US dollar rally faces hurdle as rates unwind stalls at key levelWhether it reflects US economic exceptionalism reducing the need for large-scale rate cuts from the Federal Reserve or improved prospects for Donald Trump winning the US Presidential election, or a combination of both, it’s obvious the US interest rate outlook is dictating direction across FX markets.
Higher US yields are sucking capital from other parts of the world, helping to fuel US dollar strength. With short-dated Treasury futures teetering above a key technical level, what happens next could be highly influential in determining the path for currencies and global borrowing costs as we move towards year-end.
Bitcoin’s bullish break opens door for run to record highsBitcoin’s break of downtrend resistance has opened the door for a run towards the record highs set in March, especially with the price action today suggesting the break will stick.
Even though RSI (14) is nearing overbought territory, both it and MACD continue to offer bullish signals on momentum. One look at historic price patterns also tells you overbought conditions are no impediment for further gains in the near-term.
Rather than buy around these levels, I’m waiting for a potential pullback/retest of the former downtrend before establishing longs, allowing for a tight stop to be placed below for protection.
$70000 would be the initial trade target with $71931.60 and record high the next after that.
Good luck!
DS
A Full Scope View of The Magnificent 7Today, we look at the Mag 7 via the following methods.
MAC (Moving Average Channel).
Valuation with Trend.
High Timeframe Divergence.
To summarize, overall, these markets are generally bullish. I outline areas of interest where I will be looking for trades to the long side.
Have a great weekend.
Short EUR/AUD setup looking for retest of 1.6000Thursday's bearish engulfing candle has seen the price move below 1.6188, a level that has acted as both support and resistance over recent weeks.
If the price can remain beneath this level into the European open, consider shorting below with a stop above for protection.
The initial target would be 1.6115. If that were to give way, a retest of 1.6000 could be on the cards.
Good luck!
DS
Traders could veer towards the yen with risk events loomingIt is no coincidence that VIX futures have been creeping higher in recent weeks despite Wall Street hitting record highs, as traders are presumably hedging downside risk as we approach the US election. And that means it may not take much to spook traders out of bullish bets with markets at frothy levels, and that could see the yen strengthen as a safety play. Matt Simpson takes a technical look at yen pairs of interest.
BTC Bounce from $58,000: Heading Towards ?I've been closely tracking Bitcoin's price action, and my latest analysis suggests that we may be witnessing a significant bounce from the $58,000 level, a strong support zone. After a recent dip, BTC is currently trading at $65,655, and based on key technical indicators, I expect it to rally toward $74,000 with a couple weeks.
however It's only a matter of price breaking above the 67000k resistance level as shown on chart. So this is a key level to watch
Key factors driving this prediction:
Support at $58,000:
This level has historically acted as a strong floor for Bitcoin, with previous bounces leading to upward moves to retest 63k +- 1000points resistance range.
Volume and Momentum:
Increasing trading volume and momentum indicators are pointing to a potential upward continuation.
Moving Averages:
BTC is currently holding above key moving averages, reinforcing the possibility of bullish momentum.
Market Sentiment:
With recent developments in the fundamental space, sentiment is leaning bullish, adding further conviction to the potential for this move.
If this analysis plays out, we could see BTC pushing through resistance levels and reaching $74,000 in a couple weeks time frame ideally. Keep an eye on these key levels as the price action unfolds.
MCG
ETH - The Bullish & Bearish CaseToday we take a look at ETH and lay out a variety of trade ideas.
MONTHLY: From the Monthly perspective, ETH remains very Bullish. Essentially, going long ETH anywhere at or below the low of the Monthly MAC is a legitimate spot to buy. The target based on the Monthly chart is around 3,400 (approximately 30% above current price level). From an investment perspective, this is a great area to go long ETH.
WEEKLY: From the Weekly perspective, ETH remains Bearish, as we have not had a confirmed bullish trend change. Right now, ETH is trading at the Weekly MAC high, which is a legitimate place to look for new short entries, or to take profits from any longs taken at recent weekly lows. There is currently H6 bearish divergence setup, but not triggered. If it triggers, I will be shorting ETH to a target of the Weekly MAC low (2,337).
DAILY: From the Daily perspective, ETH remains Bearish. However, we are getting a potential bullish trend change (but not triggered/confirmed). There is H1 bearish divergence setting up right now, and if it triggers, the short trade target would be the Daily MAC low at 2,421.
As you can see, if you are an investor, the current price levels are reasonable areas to load up to the long side. However, the Weekly and Daily are still bearish until bullish confirmation. Daily is in the process of confirming bullish, but not yet. Day trades and shorter term swing trades to the short side are still valid.
Have a great week.
The #1 Reason Why Real Estate Is The Lowest Hanging FruitAm drinking my cup of tea before recording this video
as I click on the Tradingview platform
I notice in the breaking news tabs
--
"Real Estate low hanging Fruit" [ NYSE:HD AMEX:IYR ]
--
Now if you look into this video you will see
the stochastic indicator
and inside this video
I show you why this indicator confirms
the latest breaking news
as real estate being the lowest hanging fruit
For you to buy
Watch this video to learn more
Remember to rocket boost this content
to learn more
--
Remember on the 19 of October
am going to show you
"The Top 13 Iron Watchlist"
Which I will be using for 2025 to see
major market cycles.
Save that date
--
Disclaimer: Trading is risky you will lose
money whether you like it or not
please learn risk management
and profit-taking strategies.
How to REALLY Trade Divergences (One of My Favorite Entries)This tutorial might be short, but it is packed with potent information on how to REALLY trade divergences.
Divergences are one of the BEST ways to catch market reversals. However, from what I have seen, most people do not have a real process for determining when a divergence is actually confirmed/triggered, and then how to determine targets based on the divergence setup.
In other words, most people don't have a plan for trading divergence.
This video will give you a full plan (Setup/Trigger/Follow Through) for trading divergences.
I give full credit to Jake Bernstein, as this is a concept that I learned from him. He is one of the all time greats, and very worth your time to check out.
I hope you found this video insightful.
Have a great week.