NEL ASA close to the BIG supportzone (700days)NEL ASA could reach within the next days/weeks the supportzone from 2015-2017.
The first touch in this zone has the highest probability to show us a bullish reaction.
Oscillators
Canopy Growth LIFTOFF NOW!Canopy Growth looking amazing - all 5 waves are done.
Bullish signals are here NOW.
ADA/USDT Long Trade Plan: Leveraging Dow Theory and Fibonacci ReThe trade plan for ADA/USDT leverages Dow Theory and Fibonacci retracement principles, aiming to enter at the 0.382 retracement level (1.0593) within a confirmed uptrend. The stop loss is placed below the last lower low at 0.8783 to minimize risk in case of a trend reversal. The take profit target is calculated at 1.2403, offering a 1:1 reward-to-risk ratio. This setup aligns with the market's higher highs and higher lows structure, ensuring an entry at a key support level while maintaining strict risk management and a favorable trade outlook.
ETHENA - Identifying a trend shift using RSI, MACD, EMA and DivFirst post of 2025 to start the new year Journaling and using Basic tools Offered by Tradingview. The most Common Used by traders are RSI MACD and EMA's.
I am going use these indicators with descriptors of what I came to understand after reading the "About script" and applying them to my trade Ideas to see If I can correctly Identify Strength and Weakness in markets.
I have plotted out on the charts what the use cases are for these tools.
RSI, MACD and EMA's are momentum Indicators, They are not used to identify where a reversal will happen but over a period of time where you can see trend start to shift or continue trending based on the Information they provide.
Trade Idea Week 20 Jan 2025: EURUSDBullish Thesis
Key Drivers:
The EUR/USD remains in a long-term bearish trend in the 4-hour timeframe, characterised by lower highs and lower lows. However, recent price action shows signs of consolidation around a critical support zone near 1.0250–1.0280, presenting opportunities for both upward retracements and continued downward moves.
Indicators like the MACD suggest weakening bearish momentum, while the ADX shows a weak trend environment, implying traders would focus on key levels for directional triggers.
Eurozone Economic Data:
Improved PMI readings (forecasted above 50 for services) may signal resilience in the Eurozone economy, potentially boosting EUR sentiment.
ECB President Lagarde's Speech: Any hints of future hawkish monetary policy could support the EUR.
Entry: 1.0280
Target TP1: 1.0320
Extended Target: 1.0340 (Weak High from 4-hour chart)
Stop Loss: Below 1.0250 to protect against a breakdown of support.
Risk/Reward: 1:2
Bearish Thesis
Key Drivers:
The long-term bearish trend remains dominant, making the 1.0340–1.0380 resistance zone a strong candidate for selling opportunities. Price action in this area aligns with the broader trend, and bearish rejections are likely to signal further downside.
Entry: Between 1.0320–1.0340
Target TP1: 1.0280 (short-term support)
Extended Target: 1.0250 (next demand zone on higher timeframe)
Stop Loss: Below Above 1.0360 to guard against a breakout above the strong resistance.
Risk/Reward: 1:2
Key Events:
Tuesday (Jan 21):
German ZEW Sentiment Data: Monitor the release for unexpected positive or negative surprises.
UK Employment Data: Indirect EUR movements may occur due to the EUR/GBP pair correlation.
Wednesday
(Jan 22):
ECB President Lagarde's speech. Hawkish tones could favor the bull thesis, while dovish comments could strengthen the bear thesis.
Trade Ideas are for informational purposes only.
Iron Ore: Momentum Builds, 200DMA in SightIron ore futures have seen a decent rally over the past fortnight, rebounding from below $100 a tonne on strong volumes to take out downtrend resistance dating back to early December before going on with the move.
The price is now testing a zone that includes minor horizontal resistance at $102.25 and downtrend established in October when Chinese markets were rollicking along in peak stimulus mode. With momentum indicators firmly with the bulls, traders should be alert for a potential extension of the rally.
If we see the price push above this zone, longs could be established with a stop beneath for protection. The 200-day moving average looms as a potential target with $107.30 the next after that.
Take note of how poorly the price has traded above the 200-day moving average over recent months. As such, if the price action falters around this level again, those seeking the higher target may want to reconsider the merits of the trade.
Good luck!
DS
$SPY January 16, 2025AMEX:SPY January 16, 2025
15 minutes.
Yesterday gap open was held.
For the last rise from 578.97 to 592.96 AMEX:SPY retraced to 589.5 before achieving the target 594 for yesterday's move.
598.5 represents 23.6% fall for the last rise and took support at 61.8% retracement for the fall 597.74 to 575.35.
Hence it is important that AMEX:SPY holds 589 levels for upward movement.
For the extension 575 to585 to 578.35, 594 was achieved being 1.618 levels for the first rise.
At the moment we have 200 averages above 50 and 100 in 15 minutes, hence I expect AMEX:SPY to consolidate between 590 to 593 levels today for a further up movement tomorrow.
Also, we have an oscillator divergence from 592.9 to 593.9 levels
No trade day for me today.
Crypto comparisonHere's a YTD bitcoin comparison with the top market cap cryptos. With the tickerTracker MFI Oscillator on the 6hr chart.
BTC = 6%
ETH = 0%
XRP = 55%
SOL = 12%
DOGE = 20%
ADA = 27%
AVAX = 12%
XLM = 45%
LINK = 14%
SUI = 13%
HBAR = 32%
ETHUSD - Daily Support - Bullish ContinuationBINANCE:ETHUSDT has found support on the daily higher low and currently experiencing a bounce and an uptrend on 4 hr timeframe. I am expecting the bullish trend to continue and will place a buy limit order on recently broken resistance levels!
EUR/USD Trade Plan Summary - Reversal
Entry: Place a Buy Stop at 1.04355, confirming a breakout from the falling wedge.
Stop Loss: Set at 1.01702, below the recent lower low to limit risk.
Take Profit: Target TP1 at 1.06993 and optionally TP2 at 1.09253 for extended gains.
Confirmation: Wait for a daily candle close above the wedge before activating the trade.
Risk Management: Risk 1-2% of capital and adjust position size based on the entry-to-SL distance.
Bitcoin futures eye breakout from falling wedgeBitcoin futures are threatening to break out of the falling wedge established in early December, testing resistance during Asian trade.
With RSI (14) through its downtrend and MACD set to cross over from below imminently, momentum is swinging in favour of the bulls, bolster the case for upside.
If we see a clean downtrend break, longs could be established with a tight stop beneath for protection. Depending on the risk-reward sought, potential targets include the highs set in early January or record high of $108,945.
If the price is unable to break and hold above the downtrend, it would lessen the appeal of initiating longs.
Good luck!
DS
EURGPB Wave Analysis 15 January 2025
- EURGPB reversed from multi-month resistance level 0.8445
- Likely to fall to support level 0.8380
EURGPB currency pair recently reversed down from the strong multi-month resistance level 0.8445, which has been steadily reversing the price from the start of September, as can be seen below.
The resistance level 0.8445 was further strengthened by the upper daily Bollinger Band and by the nearby 61.8% Fibonacci correction of the downtrend from the start of August.
Given the overbought daily Stochastic, EURGPB currency pair can be expected to fall to the next support level 0.8380.
EURUSD Wave Analysis 15 January 2025
- EURUSD reversed from key support level 1.0225
- Likely to rise to resistance level 1.0425
EURUSD currency pair recently reversed up with the daily Japanese candlesticks reversal pattern Morning Star (with the daily Hammer in its middle) from the key support level 1.0225, which stopped the previous impulse wave i at the end of December.
The upward reversal from the support level 1.0225 started the active short-term correction iv, which belongs to the downward impulse wave 3 from last month.
Given the bullish divergence on the daily RSI indicator, EURUSD currency pair can be expected to rise to the next resistance level 1.0425, which stopped the previous waves ii and (ii).
SP500 - Bullish Continuation - Dow TheoryVANTAGE:SP500 has tested the daily support and currently experiencing a good bounce. I am expecting the bullish trend to continue!
HBARUSDT
The purple support zone within the price range of $0.232 has been tested multiple times so far. If this support area is breached, we expect the bearish trend to continue towards lower levels.
Upon closer examination, we observe that the resistance zone at $0.3484 has not yet been tested, and the momentum of the bearish trend has been stronger. Once the purple support zone is consumed, the bearish scenario will be further confirmed.
What’s your opinion?
GBPAUD BUTTERFLY PATTERN Harmonic Pattern Trading Strategy:
1. Combine patterns with 2-3 confirmations (e.g., MA, BB, RSI, Stoch) for increased accuracy.
2. Implement proper risk management.
3. Limit exposure to 3% of capital per trade.
4. Exercise caution: Not every Harmonic Pattern presents a good trading opportunity.
5. Conduct thorough diligence and analysis before trading.
Disciplined approach = Enhanced edge.
FTSE 100 futures: Buy the dip for resistance retest?FTSE futures continue to coil in a triangle pattern dating back nearly a year. While that suggests we may eventually see a decisive break at some point, today’s setup looks at playing the existing range.
The price has been well supported on dips towards and through 8200 recently, bouncing on four consecutive occasions.
Considering the price action, one setup to consider would be to buy above this level with a stop beneath Tuesday’s low for protection.
Despite recent weakness, momentum indicators like RSI (14) and MACD continue to trend higher, making the preference to buy dips over selling rips.
The January 9 high is one potential target, another triangle resistance located just below 8400.
Good luck!
DS
HBAR likely to break outta flag as it breaks stochrsi resistanceNotice the yellow descending trendline on the stoch rsi indicator, we can see this line held resistance fr quite some time but stochrsi is now finally braking above t while price action has simultaneously closed the previous candle with the body poking above the top trendline and now the current daily candle looks like it will hold that trendline as solid support and potential even act as the breakout confirmation candle. Probability is high the breakout will be confirmed in the next few days *not financial advice*
EURUSD looks very bullish EURUSD after falling for few weeks, in daily time frame has made several bullish divergences on RSI and now looks ready to raise IMO
