StochRSI EMA has never touched 100Hello, traders.
If you "Follow", you can always get new information quickly.
Please click "Boost" too.
Have a nice day today.
-------------------------------------
Looking at past movements, there were cases where the current movement was shown near the peak of the uptrend.
In any case, when the StochRSI EMA rose to around 99 or above and then started to fall, the StochRSI indicator was reset after the additional rise occurred in most cases.
There were two cases where the StochRSI indicator did not reset after rising to the overbought zone and then rose to the overbought zone again.
In other words, if the StochRSI indicator did not reset and touched the overbought zone twice, you can see that the reset has mostly occurred.
If the current decline continues, it is likely to fall because it will become a double top.
The reason why it is so obsessed with this is because the StochRSI EMA has never touched the highest point (100) so far.
-
Therefore, looking at the current position, the important support and resistance zone is the 65920.71-67614.25 zone, so it is expected that the StochRSI indicator will be reset as it receives resistance and falls in this zone.
At this time, it is expected that the support near the 63118.62-64000.0 zone will be the key.
This is because the M-Signal indicator on the 1D and 1W charts is expected to rise to this area.
-
If it falls further, the 60672.0-61099.25 zone is expected to be a strong support zone.
The 61099.25 point is the HA-High indicator point on the 1M chart, so it is important to check whether it is supported.
-
The next important support and resistance area is around the M-Signal indicator on the 1M chart.
Currently, the M-Signal indicator on the 1M chart is rising around 52.1K.
Therefore, if there is a movement as I mentioned earlier, the M-Signal indicator on the 1M chart is expected to rise around 56K.
-
There are fewer cases of a sharp downtrend immediately following a strong overheating of StochRSI than expected.
Therefore, it is expected that there will be time to respond depending on whether there is support around the area I mentioned above.
-
Have a good time.
Thank you.
--------------------------------------------------
- Big picture
It is expected that a full-scale uptrend will begin after rising above 29K.
The area expected to be touched in the next bull market is 81K-95K.
#BTCUSD 12M
1st: 44234.54
2nd: 61383.23
3rd: 89126.41
101875.70-106275.10 (overshooting)
4th: 134018.28
151166.97-157451.83 (overshooting)
5th: 178910.15
These are points where resistance is likely to occur in the future.
We need to check if these points can be broken upward.
We need to check the movement when this section is touched because I think a new trend can be created in the overshooting section.
#BTCUSD 1M
If the major uptrend continues until 2025, it is expected to start forming a pull back pattern after rising to around 57014.33.
1st: 43833.05
2nd: 32992.55
-----------------
Oscillators
Currys PLC** investment opportunity **
On the above 12 day chart price action has corrected 90% since 2016. An excellent long opportunity. Why?
1) Price action and RSI resistance breakouts.
2) Price action on macro support and resistance.
3) Strong bullish divergence as measured over..
4) Some other stuff, will say elsewhere.
Is it possible price action falls further? Sure.
Is it probable? no
Ww
Type: Investment
Risk: <=6% of portfolio
Timeframe: Be long before the summer turns to Autumn
Return: Will say elsewhere
Stop loss: Will say elsewhere
Use of Various Technical indicators. (Educational Post)Nifty again after making a new high ended in negative today. Main reason for nifty ending in negative can be attributed to channel top resistance. RSI (Relative strength Index) reached over heated zone and peaked above 80 showing the market was overheated, this was the second reason of Nifty ended in red of Friday after a fantastic weak. RSI of monthly and weekly and daily candles also shows that Nifty is in the overbought zone. This can continue for a while or Nifty can dive next week or in the coming time searching for it's supports for the purpose of correction or consolidation. On hourly chart as seen above RSI Peak is near 81 with supports near 57 and 47 range. Currently the RSI is at 64.67.
Bollinger Band is also suggesting temporary market peak near 26336 and strong support near 26092 and 25866.
MACD is also signaling towards consolidation and correction as the coveted blue line seen in the chart is dipping below red line. Histograms sine wave is going towards negative zone with some strength in it's stride.
50 hours EMA or the mother line is near 25909 and 200 hours EMA or the father line is near 25345.
Parallel channel indicates top near 26336. Mid channel support near 25866 and channel bottom support is near 25595.
Trend line support is near 26148 and trend top seems to be near 26437.
Supports and resistances drawn based on recent peaks and valleys are as under:
Supports at: 26148, 26037, 25866 and 25595.
Resistances at: 26277 (All time high resistance)
In the above chart and data we have used the combination of Supports and Resistances, Trend lines, EMA, MACD, RSI, Parallel Channel, Bollinger Bands. You must have seen that various Technical indicators many a times indicate same or similar levels. Thus instead of trying to master many indicators, if you can focus on a few and master them, you will be more often correct. As Bruce Lee has famously said and I quote him, "I am not afraid of someone who knows 10000 kicks, I am afraid of the one who has practised 1 kick 10,000 times."
It is also said in Sanskrit 'Sarva Deva Namaskaram, Keshavam Prati gacchati'. Pray to any of the divine forces but they ultimately end up at the feet of the supreme God head. Nasiruddin Shah had also said in a movie (Kabhi Haan Kabhi Na) "Idhar se jao, udhar se jao, ultimately sab rasta God ke pass jata hai." Deducing from it many indicators often yield same results. Master 2 or 3 of them and they will make you a great analyst.
Conclusion: Learn, unlearn, relearn and master a few indicators rather than trying to know many indicators. They will help you create generational wealth. To know more about these indicators and how to use them and to understand Techno-Funda investment, read my book: The Happy Candles Way to Wealth creation available on Amazon in Paperback or Kindle version.
The information regarding Nifty in this article is for the purpose of education and to show how various indicators often give same or similar result.
To know more about when to book profit? Where to place a stop loss or what is trailing stop loss you are recommended to read my book: The Happy Candles Way to Wealth creation which is available on Amazon in paperback or kindle version. You can also comment below or send a message to us.
Disclaimer:
The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
Symmetrical Triangle Formation in CAMS – Awaiting BreakoutOverview:
CAMS is currently forming a symmetrical triangle on the daily chart, a classic continuation pattern. This pattern typically indicates a period of consolidation before the next significant move, and given the stock’s strong previous uptrend, there is a potential for an upward breakout. However, the symmetrical triangle is neutral until confirmed, so both bullish and bearish breakouts are possible.
Pattern Breakdown:
The triangle is defined by point A (around 4900 INR), where the stock reached a high, and point B (around 3850 INR), marking the recent low. The price has been forming lower highs C (around 4600 INR) and higher lows D (around 4200 INR) as it tightens into the apex.
This contraction in price is a sign that the market is undecided, but once it breaks out of the triangle, a directional move is expected.
Key Observations:
RSI Oscillator:
The RSI, set to a period of 14, is hovering around the neutral zone (~50). This shows that the stock isn’t currently overbought or oversold. A move above 70 or below 30 could signal a strong trend in the direction of the breakout.
Volume Decline:
As the triangle develops, volume has been tapering off, a typical characteristic of consolidation. A significant volume spike will be key in confirming the breakout direction.
Breakout Levels:
Upside Breakout: A break above point C (around 4,600 INR) could trigger a bullish continuation, given the previous uptrend. Traders should wait for confirmation via price action and volume.
Downside Breakout: A breakdown below point D (around 4,200 INR) could signal a bearish reversal, especially if accompanied by increased volume.
Final Thoughts:
Symmetrical triangles can break in either direction, so it's crucial to wait for confirmation. Given the prior bullish trend in CAMS, there's a greater probability for an upward breakout, but the possibility of a downside move can’t be ruled out. Patience is key—monitor the volume and price action carefully for a strong breakout signal.
Disclaimer :
This is for educational purpose only. I am not SEBI registered advisor. Take advice from financial advisor before investing.
Two weeks up, two days unwound: Bearish crude oil setupCrude oil is one of the few commodities that hasn’t participated in the broader rally this week, weighed down by a report on Thursday that Saudi Arabia will sacrifice higher prices to protect market share.
Even before the report dropped there were signals crude was staring at downside, with a key reversal on Wednesday setting the tone. The gains crude took weeks to achieve have been unwound in two sessions, suggesting it’s far easier to sell rallies that buy dips in this environment. That view is reinforced by the uptrend break in RSI (14), a bearish signal on momentum that looks like it’s about to be confirmed by MACD.
Thursday’s rout sent WTI through $67.65, a level that has acted as something of a pivot point for prices recently. Given its proximity, it creates a level to build bearish setups around.
You could sell around these levels, but my preference would be to wait to see whether the price can take out Thursdays low of $67 first. You could then set a tight stop above $67.65 for protection. On the downside, $64.10 would be an obvious target.
While the price and momentum signals are undeniably bearish, being close to quarter-end and with ample optimism out there about the global economy given China’s latest stimulus measures, I’m determined to let the near-term price action to tell me what to do. If it can’t break Thursdays lows, or reverses back above $67.65 and closes there, it would question the near-term bearish bias.
Good luck!
DS
BNB trying to reset the indicatorHello, traders.
If you "Follow", you can always get new information quickly.
Please click "Boost" as well.
Have a nice day today.
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The StochRSI indicator is showing signs of falling below 50 even though it has not fallen much.
In order for the StochRSI indicator to be reset, it must touch the oversold zone.
When the StochRSI indicator is reset and rises in the oversold zone and becomes StochRSI > StochRSI EMA, it is expected to create an upward wave if it receives support and resistance points on the 1M, 1W, and 1D charts drawn on the chart.
The point of view is how BTC will reset the StochRSI indicator.
-
Important support and resistance zones
- 578.4-595.0
- 496.0-498.3
The two zones above are important support and resistance zones.
-
If it falls below 595.0, the M-Signal indicator on the 1D chart is rising near 578.4, so you should check whether it can be supported and rise near this area.
Therefore, the key point is where the StochRSI indicator enters the oversold zone or the BW indicator touches the lowest point (0).
-
If it rises from 595.0,
1st: 606.7
2nd: 664.3
You should respond depending on whether there is support near the 1st and 2nd above.
-
Have a good time.
Thank you.
--------------------------------------------------
- Big picture
It is expected that the real uptrend will start after rising above 29K.
The section expected to be touched in the next bull market is 81K-95K.
#BTCUSD 12M
1st: 44234.54
2nd: 61383.23
3rd: 89126.41
101875.70-106275.10 (overshooting)
4th: 134018.28
151166.97-157451.83 (overshooting)
5th: 178910.15
These are points where resistance is likely to be encountered in the future. We need to see if we can break through these points.
We need to see the movement when we touch this section because I think we can create a new trend in the overshooting section.
#BTCUSD 1M
If the major uptrend continues until 2025, it is expected to start by creating a pull back pattern after rising to around 57014.33.
1st: 43833.05
2nd: 32992.55
-----------------
Platinum: Little Consolidation (Wave 4); Golden RatioWe can see a very well defined cycle, and wave 1 to 3 already created.
This new cycle could be a consolidation, the price can drop to 14,6% or 23,6% level.
Or even in the middle between 38,2% and 23,6%, where other wicks has already touched, creating a support, where can also occur the last candle of Wave 4.
Open interest in NYMEX:PL1! is falling and the major trend rising, it can occur a reverse, and this reverse will be the Wave 4.
RSI left the Overbought level, followed by a failure swing, resulting in continued decline of the indicator.
After the peak $1,016.45, ADX is losing strength while DMI+ has a high probability of changing position with DMI-.
CHINA GOING FOR IT! Until Christmas? #BlowoffTop and Recession!Breakout and retest for RSI, China breakingout after 6 long years.
This will have implications on every market, they were waiting for the FED to pull the trigger and now they can go. Game on!
#JD is going, Commoditties will go for it, except #oil maybe.
But more important, #Bitcoin will have the #BLOWOFFTOP I was looking for.
That´s the News GOODS...
The BAD News is, Recession or Crisis after it. December or March 25´as late.
Lucid Group Trip Down to Lower $3's Before Uplift?! - LCIDHere I have Lucid Group, Inc - LCID on the Weekly Chart!
First, Technical. We see Price rock bottoms to its Lowest @ $2.29 on April 22 2024 and just after the Negative Earnings and Revenue report on May 6th 2024, Price creates an Equal High @ $3.35 followed by a Violation of Structure giving us a Higher Low @ $2.48 finding Support in the $2.50 Area to then make a Higher High @ $4.32!
Turning this once looking Downtrend to an Uptrend.
Prices Higher Highs and Lows are now being halted at the $4.20 - $4.40 Range where I suspect Price will need to find more Support before it can continue on to what I believe will be its next Target being the Next Swing High @ $5.31!
*Divergence in the Highs of Price relative to the Highs on RSI show Bearish Signs
The Bullish Rally in Price on August 19th left open quite a Gap to Fill from $3.83 - $3.30 and If Price is willing to fill it, the $3.46 - $3.13 Area looks very Valuable being there's:
1) - Equal High @ $3.35 being Potential Support
2) - Golden Fibonacci Zone @ $3.34 (55.9%) - $3.22 (61.8%)
(Based from HL @ $2.48 to HH @ $4.43)
3) - RSI after Breaking EQH, starts Trading Above 50
4) BBTrend Printing Smaller, Dark, Red Bars
All leading to Bullish Markers!
Now, Fundamentals. Lucid Group announced that it is set to launch not only 3 new affordable EV's but that it also plans to unveil the Gravity SUV later in the year "highlighting the company's advanced technology and mileage range on electric vehicles." In competition with Tesla's long reign.
www.tradingview.com
The "Fastest Armored Car On The Planet" is sparking investor interest with Lucid Air Sapphire is giving serious challenges to Tesla!
www.tradingview.com
The past 2 Earnings & Revenue Reports have both been Disappointing for the company but the most recent Report on August 5th compared to May 6th tell a slightly different story ..
May - Revenue Estimate (173.544M) / Reported (172.2M) = -844.404k
Aug.- Revenue Estimate (190.303M) / Reported (200.6M) = +10.279M
*Next Earnings and Revenue - November 5th 2024
LCID will be worth keeping a watch on .. Stay Tuned!!
Why I Think USDCAD Will Continue To Sell This WeekHey Rich Friends,
I hope all is well. I think UC will continue to be bearish this week and here is what I am looking at:
- The market has already created and rejected a new swing high at 1.36475. This is a bearish confirmation for me
- Structure has been broken on the downside, confirming a bearish trend
- The 10 EMA (purple) has crossed about the 3 EMA (blue). This is a bearish confirmation for me
- The Stoch is facing down, the slow line (orange) is above the fast line (blue) and both lines are below 50, preparing to cross below 20. These are bearish confirmations for me
I will be using previous lows as potential TPs and previous high for my SL.
I hope this makes sense and helps someone! Great luck if you decide to take this idea.
Peace and Profits,
Cha
USDJPY: RSI Above 50 plus 3:1 Gann fan being crossedAfter a downward movement, making the 139.574 low, we got strong bullish candles and weak bearish candles.
Today price crossed 3:1 fan line, crossing above 143.643, the last support since early August.
Today's candle close above an inverted hammer creating a bullish engulfing pattern.
RSI is following the trend and breaking above 50-level.
Potential Harmonic Bearish Butterfly Could Push QQQ to $525+Here I have Invesco Trust NASDAQ:QQQ on the Daily Chart!
Invesco Trust NASDAQ:QQQ follows the NASDAQ 100 Index which is Tech-Industry Heavy.
Price currently is struggling at ( $485 - $486 ), the 78.6% Fibonacci Level responsible for giving us our B point in what appears to be a potential Bearish Harmonic Butterfly Pattern!
Harmonic Butterfly
X - B = .786
A - C = .382 - .886
B - D = 1.618 - 2.24
X - D = 1.272 - 1.618
If Price is able to break through this Level, then by the Harmonic Butterfly Parameters, we could see the CD Leg extend to the 1.272 - 1.618 Fibonacci Levels @ ( $525.30 - $553! )
Fundamentals:
* Feds have already began their Easing Cycle with the more then expected aggressive 50 bps cut to Interest Rates. With more cuts already planned in the foreseeable future, this will begin to help the economy bounce back!
*Thursday, Sept. 26th: Final GDP, Unemployment Claims & Powell Speaking
Friday, Sept. 27th: Core PCE Index
Indicators:
- Price is trading Above the 200 EMA
- RSI Above 50
- Bullish Volume Building
EURJPY returning back to the primary trend directionPrimary trend: Long
On July 10th a new high was made, and the RSI showed a Overbought condition, leading the direction to change, and create a secondary trend for about 2months
The secondary trend stopped at a support, and RSI showed Oversold condition and the price rise again with strong candles.
RSI has already crossed the 50 level and a pattern.
Dow Theory - Bullish Divergence + ContinuationBINANCE:JSTUSDT has formed the first higher high after a bearish rally. Bullish divergence is also present on the chart.
7 Hr Analysis:
1. First higher high formed after a bearish rally
2. Break of descending trend line
3. Bullish divergence on RSI
4. Potential bullish flag in play (bullish continuation pattern)
Weekly Pennant, Daily Bull Flag Confirmed! - AUHere I have AUD/USD on the Weekly & Daily Charts!
Starting on the Weekly:
- Price has been creating Lower Highs into Higher Lows forming a Pennant Pattern!
- Price will consolidate in this formation until we are given a Bullish or Bearish Break.
- Aug. 5th - RBA decides to HOLD rates @ 4.35%, afterwards we see a Fake-out of Price
Breaking Down the Daily:
- After the Fake-out, we see Price make a Bullish run and create an Equal High
- Going from the Low of the Fake-out @ .63478 to the Equal High @ .68239, Price follows a Descending Channel until making a Fibonacci Retracement to the 38.2% Level, leading to a Bullish Break Confirming a Bull Flag Pattern!
- Sept. 18th - FED decide to Cut rates by 50 BPS to 5%, afterwards on Sept. 19th Price Closes Bullish Above the Resistance-Turned-Support giving us a Higher High and Potential Buying Opportunities!
I suspect the next area of Resistance Price will come to is at the over head Swing High @ .6895 and Falling Resistance where ultimately I believe AUD will give a Bullish Break to the Weekly Pennant and we will see Price continue to climb!
Indicators:
* RSI is beginning to become sustained Above 50
* BBTrend is printing Green Bars
* If you take the two Largest Bearish Candles in recent Price Action ( Sept. 3rd & Sept. 6th in Descending Channel), we can see that the Volume Delta prints -36.103K for the 3rd but only -20.958k for the 6th, Signaling less Bearish Participants!
NZD/USD blasts to 2024 highs as golden cross triggered Given its status as cyclical currency closely tied to the fortunes of the global economy, it comes as no surprise that NZD/USD blasted to a 2024 YTD high following China’s latest stimulus announcement.
Having broken long-running downtrend resistance, and with momentum indicators providing bullish signals without being overbought, there could further upside to come for the Kiwi as speculation swirls that China may announce fiscal stimulus measures in the coming days to boost flagging domestic demand.
Put simply, ahead of Golden Week holidays in China, risks appear skewed to the upside near-term even after the run we’ve seen. We’ve even seen the 50-day moving average cross the 200-day moving average from below, delivering a golden cross. Even though I’m not putting any weight on the event trigger, it’s like the cherry on top for bulls.
One option is to buy the break now with a tight stop below for protection, although that screens as a lower probability play with the pair sitting in between two levels.
My preference would be to wait for a potential pullback towards .6300, allowing for a stop to be placed below the level or former downtrend for protection. Alternatively, if we see a push above .6370, you could buy the break with a tight stop below for protection. For the latter setup to work from a risk-reward perspective, you’d need to target .6540.
Good luck!
DS
RSI Flags Gold Risks Before GDP, PCE Data? Gold is set to face two major US economic data points this week, following last week’s surprise 50-basis-point interest rate cut from the Federal Reserve: U.S. GDP figures on Thursday and Core Personal Consumption Expenditures (PCE) on Friday
Danielle DiMartino Booth of Quill Intelligence argues the Fed’s larger-than-expected cut signals concerns over potential negative GDP revisions, casting doubt on the chances of a “soft landing” for the U.S. economy.
Jerome Powell is also going to be speaking on Thursday at the 2024 U.S. Treasury Market Conference. But his remarks may take a backseat to the data.
The 4-hour Relative Strength Index (RSI) has climbed above 70, signaling overbought conditions and suggesting caution for gold buyers. If the metal turns corrective, the price could test $2,613.
Crossover Swing + Breakout Trade - HINDALCO📊 Script: HINDALCO
📊 Sector: Non Ferrous Metals
📊 Industry: Aluminum and Aluminum Products
Key highlights: 💡⚡
📈 Script is trading at upper band of BB and giving breakout of it.
📈 Script is giving Cup & handle Pattern Breakout on daily chart.
📈 Already crossover in MACD.
📈 Double Moving Averages are giving crossover.
📈 Right now RSI is around 66.
📈 One can go for Swing Trade.
⏱️ C.M.P 📑💰- 717
🟢 Target 🎯🏆 - 810
⚠️ Stoploss ☠️🚫 - 672
⚠️ Important: Always maintain your Risk & Reward Ratio.
✅Like and follow to never miss a new idea!✅
Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes.
Eat🍜 Sleep😴 TradingView📈 Repeat 🔁
Happy learning with trading. Cheers!🥂
China A50 stages major bullish breakout to key technical level Chinese stocks are going vertical in response to the swathe of stimulus measures announced before the market open. China’s A50 Index is no exception, staging a bullish breakout to an import level we can use to build setups around.
The break of the downtrend and 50DMA looks significant on the back of big volumes, seeing futures retest the 200DMA. With MACD and RSI (14) generating bullish signals on momentum, there could be more gains to come.
But let the price action tell you what to do.
If we get a clean break above the 200DMA, consider going long targeting a move back towards horizontal resistance at 12352. Ideally, it would be nice to see a retest and bounce off the 200DMA following the break to bolster the case for upside. A stop could then be placed below the 200DMA for protection.
Alternatively, if the price is unable to break the 200DMA convincingly, consider selling with a stop above the level for protection. Downside targets include the former downtrend and support at 11375.
Given the measures announced today and proximity to Golden Week holidays, the bias is to buy dips or breaks near-term given the possibility of further state support.
Good luck!
DS
BTCUSDT RSI EMA VWMA Signals with Profit Target for CryptohopperThis strategy combines the Relative Strength Index (RSI), Exponential Moving Average (EMA), and Volume Weighted Moving Average (VWMA) to create buy and sell signals, along with a profit target, for cryptocurrency trading. It is specifically designed for use with Cryptohopper through webhook alerts.
How It Works:
Buy Signal: A buy signal is triggered when the RSI crosses above the lower threshold (user-defined) and the 9-period EMA is above the 20-period VWMA.
Sell Signal: A sell signal is triggered when the RSI crosses below the upper threshold (user-defined).
Profit Target: Once a position is opened, the strategy sets a profit target based on the user-defined percentage. When the target is reached, the position is closed.
Indicators Used:
RSI (Relative Strength Index): A momentum oscillator measuring the speed and change of price movements.
EMA (Exponential Moving Average - 9 period): A moving average that gives more weight to recent price data.
VWMA (Volume Weighted Moving Average - 20 period): A moving average that takes volume into account, giving more weight to periods with higher trading volume.
Features:
Generates buy and sell signals based on RSI and moving average conditions.
Allows users to set a profit target percentage for each trade.
Alerts can be sent via webhooks to integrate with platforms like Cryptohopper to automate trading.
Alerts are provided for buy, sell, and when the profit target is reached.
How to Set Up Alerts for Webhooks:
Apply this script to your TradingView chart.
Set up alerts for the buy and sell conditions.
Enter your Cryptohopper webhook URL in the alert configuration to automate trade execution.
Disclaimer:
This strategy is for educational purposes only and should not be considered financial advice. Trading cryptocurrencies involves a high level of risk, and users should do their own research or consult a financial advisor before making any investment decisions.
SOYBEANS - Are We Close to a Major Bottom? Cycles Say YES.Here is what I am currently watching for SOYBEANS.
-We need to be aware that there is a major bullish divergence setup (not trigger) developing on the quarterly & monthly charts. We need to pay close attention to this setup, because if triggered/confirmed, it implies a massive move up for Soybeans would be on the horizon.
-Interestingly, the Weekly chart has confirmed bullish divergence. The first target (1090) has not yet been hit, but in my opinion, it looks probable that Soybeans will hit that target (and possibly go as high as the second target (1179). This implies that I believe Soybeans is likely to rally at least 5% in the near future, and possibly rally as much as 10% from current price levels.
-I will be aggressive with taking profits on any short setups that present, due to the bullish weekly divergence that has triggered.
-Utilizing the Weekly MAC & Valuation methods, I note that this market is in an area where we can look for H6/Daily short trades. As mentioned in previous paragraph, I will utilize more aggressive targets.
-The cycles for Soybeans...wow, they are quite something. Decennial cycle suggests significant low being put in, APZ's suggest major low around October 4th, major 5 year cyclical low RIGHT NOW. Other temporary and permanent blended cycles suggest a major low right now. Composite of the 3 most similar years of price action also suggest a major low could happen soon, with a major rally to March 2025.
-A combination of the cycles and the major timeframe bullish divergences have me leaning somewhat towards calling a possible major bottom in the Soybeans market. I would prefer to see commercials COT positioning support this idea, which makes me think maybe we get another nice selloff into the August lows before the real bottom is in. But time will tell.
Heikin Ashi is a serious argument.Meanwhile, a new 19D candle opened overnight.
Heikin Ashi is giving an unambiguous signal that what
has been happening for the last few months with bitcoin is a huge flag.
The new candle opened in green.
Combined with the fact that IFTCOMBO is ready to cross the
‘basement line’ upwards, it suggests that a major rise will finally take place.
Right now, there is still a very long and tedious consolidation going on.