I have bought AXS From the AXSUSDT chart, it shows:
Market Trend: The chart is currently in a clear downtrend along the EMA (Exponential Moving Average) line, with the 100-day EMA and 200-day EMA still above the price chart, indicating strong resistance.
Important Support: The support area around 4.145 USD has been tested several times. If the price breaks this support level, it may see a continued correction to the 3.843 USD and 3.831 USD areas, which were previously rebounded.
Stochastic RSI: It is in the oversold zone (below 20), indicating that the market may have a chance to recover in the short term due to weaker selling pressure, but other indicators should confirm it.
RSI (Relative Strength Index): The RSI value at 40.61 is still in the downtrend zone. If the RSI value increases and crosses the 50 line, it may be a sign that the price has a chance to return to the uptrend.
Trading Volume: Trading volume has decreased during the price correction, which may indicate that selling pressure is starting to weaken. Or there are fewer sellers
Entry Recommendation:
Buying at the support level of 4.145 USD should consider waiting for confirmation from Stochastic RSI that there is a reversal from the oversold zone and see if the RSI value can cut through the 50 line. If so, it may be a good time to buy.
Set the stop loss below the important support level at around 4.00 USD to hedge the risk if the price falls below the support level.
Oscillators
My Current Bitcoin Trading Plan - Dips are For BuyingOverall, I remain bullish on Bitcoin. The Monthly & Weekly MAC strategy is still supportive of looking for buy triggers on pullbacks into the Monthly/Weekly MAC lows. I will be looking for entry triggers on entry timeframes if Bitcoin pulls back into the $56K to $57,500 price range, and would consider still hunting entries if it trades below these levels.
The Daily remains bullish, but there is a MAC selling setup (not confirmed until Williams AD closes below its 57 period MA).
Have a great weekend.
Apple - How I'm Looking to Trade Apple This Week Monthly & Weekly MAC strategy suggests dips into the Weekly &/or Monthly MAC low are good setup areas for going long. Essentially, I'm looking to buy the dip if we get a price move into the levels noted in the video. I would not just be buying the MAC lows. I would be looking for entry triggers on my entry timeframes in those areas.
I also point out that there are some Monthly/Quarterly bearish divergences forming, but nowhere near confirmation, so bulls need not worry.
In short, I'm looking to buy the dip on Apple.
Have a great weekend.
Will the Google trend forward be a Gemini to the current?CAPITALCOM:GOOG is clearly in a down trend, which started in early July. Lower highs, lower lows, and 21EMA below 50EMA since the cross below in semi-late July. It is currently approaching the upper band of the down channel, and a reaction to the downside could be expected. The MACD is behaving somewhat indecisive and not providing useful guidance, which does not signal a change of trend anytime soon. The volume oscillator is trending down. This all points to price continuing the move down. Target $144, or lower band of channel, which might trigger a push up.
uniQure N.V - Positive divergenceOn the above 2-week chart uniQure N.V. price action has corrected 90% without the aid of share splits. A number of reasons now exist to consider a long position. They include:
1) Price action returns to legacy support.
2) RSI resistance breakout.
3) Strong positive divergence as measured over a 2-month period. Look left.
4) No share splits.
5) Price action previously topped out at the Fibonacci 1.414. Were that performance to repeat price action would top out at $215 with a 3600% return.
Is it possible price action continues to correct? Sure.
Is it probable? No.
Ww
Type: Investment
Risk: <6%
Timeframe for long: Qrt 1 2024
Stop loss: Will say elsewhere
Can Anything Stop Broadcom?Broadcom has been one of the top-performing large cap stocks this year. Now, after a period of consolidation, some traders may see potential for further upside.
The first pattern on today’s chart is the August 19 close of $167.71. AVGO initially stalled at this level and struggled to cross it in the first half of September. But it broke out later in September, and this month is trying to hold it. That may suggest that old resistance has become new support.
Second, the recent low was near the rising 21-day exponential moving average (EMA). The 8-day EMA is also above the 21-day EMA. Is a new uptrend developing in the chip stock?
Third, MACD is rising.
Finally, you have the June low of $130.25. Prices couldn’t stay below it when the broader market crashed on August 5. AVGO then proceeded to make a higher low the following month. Those signals may confirm a longer-term uptrend.
TradeStation has, for decades, advanced the trading industry, providing access to stocks, options and futures. If you're born to trade, we could be for you. See our Overview for more.
Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options or futures); therefore, you should not invest or risk money that you cannot afford to lose. Online trading is not suitable for all investors. View the document titled Characteristics and Risks of Standardized Options at www.TradeStation.com . Before trading any asset class, customers must read the relevant risk disclosure statements on www.TradeStation.com . System access and trade placement and execution may be delayed or fail due to market volatility and volume, quote delays, system and software errors, Internet traffic, outages and other factors.
Securities and futures trading is offered to self-directed customers by TradeStation Securities, Inc., a broker-dealer registered with the Securities and Exchange Commission and a futures commission merchant licensed with the Commodity Futures Trading Commission). TradeStation Securities is a member of the Financial Industry Regulatory Authority, the National Futures Association, and a number of exchanges.
TradeStation Securities, Inc. and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., both operating, and providing products and services, under the TradeStation brand and trademark. When applying for, or purchasing, accounts, subscriptions, products and services, it is important that you know which company you will be dealing with. Visit www.TradeStation.com for further important information explaining what this means.
$SPY October 4, 2024AMEX:SPY October 4, 2024
15 Minutes.
Yesterday was sideways as expected.
Today I will not take trade as AMEX:SPY closed below 200 and 100 moving averages in 15 minutes.
If I get a good close above 572 and moving averages converge at close of day, Probably Monday will give a chance to entry.
No Trade Day for me. Today too.
Kiwi breaking down as US economic data heats upNZD/USD is breaking down, slicing through uptrend support on the daily chart as we head towards nonfarm payrolls. With momentum indicators providing bearish signals, selling rallies and breaks is preferred near-term.
If we see a push back towards the former uptrend today, consider selling with a tight stop above for protection against reversal. Potential downside targets include .6157, the 50DMA and .6109 where the price bounced strongly from on September 11.
While the payrolls report could generate any number of market reactions depending on the prevailing narrative, give the threat posed by an escalation in geopolitical tensions over the weekend, riskier currencies such as the Kiwi may struggle for meaningful upside in the current environment.
Good luck!
DS
A Major Storm in the HorizonRecently we saw new All Time Highs (ATH), the indexes have been on the rise. However there's something in the works. The so called "Fear Index" TVC:VIX has been stubbornly increasing its level and for a while it has breached the 20 level. Which is the borderline from a calmed ascending market and a correction.
The level of the correction may go from just an adjustment in the trend, sending the index back to the long term moving averages, like the 50/100. This is not yet a bear market, which can't be forecasted from just the levels we have at this time.
The FED was aggressive with its first interest rate cut, the market is looking forward for margin at a discount and it knows how to ask for it. We'll have to keep an eye in the Fed balance sheet, the bond yield, inflation and unemployment.
The momentum divergences in the upper time frame have been increasing. Higher levels with lower momentum, this is a sign of reversal. So far it's about time for a trend correction, a bear market will be seen if the main moving averages (20, 50) in the Weekly are breached and its support turns into resistance.
Good Trading Everyone !
15% to 35% Upside Ahead for Corn (Divergence Strategy)Corn recently has had the monthly bullish divergence confirmed with Septembers monthly close. This has major implications for corn, as I anticipate corn to now trade up at least 15% from current prices, up to a max move of approximately 35%. Monthly divergence triggers such as this are signals that the prudent trader must pay attention to. This does not mean I anticipate this market to go straight up from here. However, it does mean that, in my opinion, dips are for buying in the Corn market until we reach these upside targets.
Have a great week.
15% to 30% Upside Ahead for Soybean Meal (Divergence Strategy)Soybean Meal recently confirmed the monthly bullish divergence with Septembers candle close. This is a significant signal that prudent traders should pay close attention to. What this signal implies is that there is a minimum 15% move to the upside from current price ahead for Soybean Meal. The high end target is a 30% upside move. This does not mean this market is going to go straight up from here. In my opinion, dips are for buying in the Soybean Meal market until we reach these upside targets.
Have a great week.
Example of Conditions for Starting Trading
Hello, traders.
If you "Follow", you can always get new information quickly.
Please also click "Boost".
Have a nice day today.
-------------------------------------
I will publish in advance due to an external schedule tomorrow.
Accordingly, I will take time to provide additional explanations on the ideas published today.
----------------------------------------
I will talk about the basis for indicating the direction of progress shown in the chart above.
In order to differentiate from other people's analyses, I am trying to explain the basis for indicating the support and resistance points or sections on the chart.
I think that if you understand why those points and sections were set, you will eventually be able to understand them without having to read the explanation all the way through.
For this, more support and resistance points are needed.
This is because we can select the volatility period by additionally drawing the trend line.
However, since all of these processes are displayed on the chart, there are many complaints that the chart is messy and confusing, so we are trying to reduce them as much as possible.
Therefore, there are cases where the chart is displayed in two versions.
The chart below is a chart that shows many support and resistance points and draws a trend line to select the volatility period.
Therefore, since the support and resistance points may be displayed differently, it is recommended that you refer to the points or sections that I have written.
-
The conditions for starting a transaction are simpler than they look.
However, when these conditions are met, the support and resistance points drawn on the 1M, 1W, and 1D charts must be displayed.
Therefore, even if the conditions for starting a transaction are met, if the support and resistance points are not displayed at the corresponding price, you cannot start a transaction.
Please read this carefully and thank you.
-
(It would be good to see this as an example of how to find the conditions that fit you and how to utilize them.)
Conditions for starting a transaction are
1. Buying time conditions
- When the StochRSI indicator rises in the oversold range and maintains the state of StochRSI > StochRSI EMA
- When the BW indicator forms a horizontal line at the lowest point (0)
- When the OBV indicator rises below the 0 point
- When the DMI indicator rises below the 0 point
2. Selling time conditions
- When the StochRSI indicator falls in the overbought range and maintains the state of StochRSI < StochRSI EMA
- When the BW indicator forms a horizontal line at the highest point (100)
- When the OBV indicator falls above the 0 point
- When the DMI indicator falls above the 0 point
When the above conditions are met, check whether there is support at the support and resistance points drawn near the price. Confirmation is used to proceed with the transaction.
The current price position is 60672.0-61099.25.
Therefore, you can proceed with the transaction depending on whether there is support in this section.
Since it is currently falling below 60672.0, there is nothing you can do in spot trading other than cutting losses.
In futures trading, you can enter with a sell (SHORT) position.
-
It is rare for all the conditions for starting a transaction mentioned above to be met.
Therefore, it is recommended to basically check whether the BW indicator forms a horizontal line at the lowest point (0) or highest point (100), and then proceed with the transaction by checking the movement of the StochRSI indicator.
Also, it is recommended to select a split sell section to make a profit by calculating the fluctuation range while checking the strength of the rise or fall with OBV and DMI.
-
In summary of the above,
Since the StochRSI indicator has not yet risen from the oversold zone and StochRSI < StochRSI EMA, it is recommended to check whether a reversal is occurring.
Also, you should check whether the BW indicator has fallen to the lowest point (0) and formed a horizontal line.
If the OBV and DMI indicators rise below the 0 point without meeting these conditions, you should proceed with an aggressive purchase (a transaction that requires a quick response similar to scalping or day trading).
If you do not proceed with an aggressive purchase, you should wait.
-
It is not a good idea to enter a current sell (SHORT) position in futures trading.
However, if you proceed with an aggressive transaction (scalping or day trading), you can start trading.
The reason why it is not a good condition for trading is because the price is located in the 1. purchase timing condition section among the conditions for starting a transaction mentioned above.
Therefore, the profit is small or you may even suffer a loss.
-
If you are not currently trading, I think the section where you should trade is when it rises around 61K.
Before that, it is highly likely that you will not be able to purchase because it seems like it will fall further.
I think this point, or the section where you actually trade, is the psychological volume profile section.
This psychological volume profile section is the section where psychology applies that you must trade even now.
Since this point is ultimately a low or high point, it is a section where you are likely to incur losses if you purchase.
The 61K section that I mentioned earlier is a section where it is highly likely to be a low point, so it is a section where you are likely to incur losses if you cut your loss or enter a sell (SHORT) position.
-
If it shows resistance near 60672.0, there is a possibility that a sharp decline will occur momentarily and touch 59K and then rise.
This phenomenon can be a fake or a sweep movement, so you need to be careful.
In order to avoid losses from this phenomenon, auxiliary indicators are necessary.
Since auxiliary indicators are lagging, they are unlikely to show large movements in sudden price fluctuations.
-
What I am talking about is not a method of chart analysis, but an example of how to set a standard for trading.
Therefore, I hope you do not misunderstand the above as about chart analysis.
Since chart analysis and trading are different, what you see on the chart is also different.
In order to complement this difference, what is needed is the support and resistance points drawn on the 1M, 1W, and 1D charts.
Since charts without support and resistance points are likely to be for chart analysis, there is no need to try to find a trading point on these charts.
-
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
-----------------
VSAT: the dead cat might bounce againVSAT has kissed the wedge bottom! (fell on a support line of the falling wedge pattern) There is a double bottom likely to develop with both MACD and RSI converging with the falling wedge support line on the price chart. (although RSI hasn't got into oversold, hasn't bottomed and turned around yet), it might upswing again, at this price level there is a long opportunity.
FYI - my average is 14.9
Adobe May Have Space to the DownsideAdobe has been struggling all year, and some traders may think the software stock has space to the downside.
The first pattern on today’s chart is the series of lower highs since September 13. ADBE dipped below its subsequent low this week, potentially breaking a bearish descending triangle.
Next, the triangle followed a sharp gap lower after guidance disappointed.
Third, the 50-day simple moving average (SMA) is nearing a potential “death cross” below the 200-day SMA. That may suggest its long-term trend is getting more negative.
Finally, MACD has turned downward, and prices have remained below the falling 8-day exponential moving average. Those points may signal bearishness in the shorter term.
TradeStation has, for decades, advanced the trading industry, providing access to stocks, options and futures. If you're born to trade, we could be for you. See our Overview for more.
Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options or futures); therefore, you should not invest or risk money that you cannot afford to lose. Online trading is not suitable for all investors. View the document titled Characteristics and Risks of Standardized Options at www.TradeStation.com . Before trading any asset class, customers must read the relevant risk disclosure statements on www.TradeStation.com . System access and trade placement and execution may be delayed or fail due to market volatility and volume, quote delays, system and software errors, Internet traffic, outages and other factors.
Securities and futures trading is offered to self-directed customers by TradeStation Securities, Inc., a broker-dealer registered with the Securities and Exchange Commission and a futures commission merchant licensed with the Commodity Futures Trading Commission). TradeStation Securities is a member of the Financial Industry Regulatory Authority, the National Futures Association, and a number of exchanges.
TradeStation Securities, Inc. and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., both operating, and providing products and services, under the TradeStation brand and trademark. When applying for, or purchasing, accounts, subscriptions, products and services, it is important that you know which company you will be dealing with. Visit www.TradeStation.com for further important information explaining what this means.
Risk of bullish USD/JPY breakout growing USD/JPY is hitting the top of the range it’s been in since mid-August. With RSI (14) and MACD providing bullish signals on momentum, and having cleared the 50DMA, it feels like this attempted breakout may succeed where others have failed.
If we see a break and hold above resistance at 147.06, consider buying with a tight stop below the level for protection. Risk management is particularly important given escalating geopolitical tensions in the Middle East.
The August 15 high around 149.40 would be the initial trade target with 149.70 the next after that. 151 would offer a tougher test, coinciding with the intersection of multiple levels including the 200DMA.
If the price were to reverse back below 147.06 and/or the uptrend dating back to mid-September, the near-term bullish bias would be nullified.
Good luck!
DS
$SPY October 3, 2024AMEX:SPY October 3, 2024
15 Minutes.
As expected, AMEX:SPY was in sideways sort out the two long bars of 1st October.
For the fall 574.38 to 565.27 AMEX:SPY had retraced 61.88 around 570 levels.
For the rise 565.27 to 569.9 AMEX:SPY had again retraced 61.8% of that move to 567 levels.
Now AMEX:SPY made a low at 565.27 and we can see oscillator divergence.
Hence this number is important to hold now.
If we draw an extension for the move 567.27 to 569.9 to 567.58, we can see 570 - 572 as initial target.
At the moment AMEX:SPY below 100 and 200 averages in 15 minutes.
Hence a long only above 571 with the close of bar near the top.
On downside I expect strong support around 562 563 levels being 200 averages in 60 Minutes time frame.
So, we are stuck between 563 to 571 today most probably for a buy above or sell below trade.
I expect to have a trade tomorrow, Friday.
The 3 Steps To Risk Managment Using The Rocket Booster Strategy.The rocket booster strategy is something
i have been
practising since I started trade
journals here
on Tradingview.
It took me about about 48 hours and 48 days
of studying to master this
strategy in my brain it's very simple
but do not underestimate its power
I want to show you risk management.
On this chart is the rocket booster strategy
But there is a difference.
On the chart, I have shown you a buy-limit order
and a take-profit order.
Here are the 3 steps to risk management
and profit-taking
using the rocket booster strategy for this
stock NASDAQ:AMZN :
#1-Place a buy limit order on the 50 EMA or near it.
#2-Place a take profit order on the resistance
level measured by the Bollinger bands.
#3-Do not overleverage your position-
Use margin but not too much!
Now that you know I encourage you
to read this article at least 33 times
to master this strategy.
Rocket boost this post to learn more.
Disclaimer: Trading is risky you will lose money
whether you like it or not. Please learn risk management and
profit-taking strategies.
Natgas - Pending RSI Failure SwingThis is an idea of what to look out for if natgas continues to rally into overbought RSI territory and tops out as it did in May and June of 2024 (current year). Look out for overbought RSI divergence followed by a failure swing as shown and outlined in further detail in the idea linked below, probably confirmed by MACD divergence as well. Look out for an approximately 40-day duration of top formation once RSI enters overbought territory, plus or minus 20 days. Be prepared for a max draw down of 2.14% if you short the close of the day the failure swing is confirmed. The previous gain was 29.16%. Due to the high draw down %, it may make sense to short a QG micro which is 1/4 of an NG contract, possibly adding more on the way down at your discretion. The trade entry may happen later this year, approximately mid November.
Also something to watch out for is a much sharper rise with a much shorter RSI failure swing pattern as was formed at the start of the year 2024 (current year), also shown on the chart. The drawdown was much smaller and the target much greater (50% gain) but the short duration made the failure swing more suspect. It’s better if more than just 5 days form the top and a deeper valley is formed.
This is all very hypothetical, but these are the types of swing trades I watch for and it’s good for me, if no one else, to note these potential trades as they approach. Please feel free to ask questions.
Previous failure swing idea with additional explanation:
EURUSD: Dollar going stronger than EuroThe orange circle, shows the exact moment where, at the same time, ICEUS:DX1! crossed over CME:6E1! and the 200-sma was in the middle of this crossover.
The Dollar futures are gaining stregth while on the other hand, Euro futures are falling in price.
After the crossover, a strong bearish candle cross the support, the price remain in congestion with yesterday price closing at 1.10533.
Today the price is already below a support during early september and a resistance in the week after.
Indicators: Besides the 200sma. The RSI is projecting to go overbought or at least close, while DMI- is increasing the direction and ADX is confirming the trend strength.
30% to 60% Upside Coming for Natty (Divergence Strategy)A powerful monthly bullish divergence just confirmed on natty.
We see that the CCI had a monthly close which confirmed the bullish divergence setup. In this video I review how to determine targets with this strategy, and how to determine your risk.
I anticipate a minimum 30% rally from current prices for natty, possibly heading up 60% from here. This doesn't mean this market won't have a pullback in the meantime. In my opinion, pullbacks are for buying until these price targets are reached.
If you have any questions about this strategy, feel free to shoot me a message.
Have a great week.
Harmony Gold Could Be Near a BreakoutHarmony Gold Mining rallied sharply in March and April. Now, after a period of consolidation, some traders may see potential for a breakout.
The first pattern on today’s chart is the range between $8.50 and $11. Prices are nearing the upper level. A close above may confirm resistance is fading.
Second is the series of higher weekly lows since mid-June. Those could indicate a longer-term uptrend.
Third, rising MACD may reflect bullish momentum.
Finally, the macro environment (falling interest rates and geopolitical risk) may favor gold miners like HMY.
TradeStation has, for decades, advanced the trading industry, providing access to stocks, options and futures. If you're born to trade, we could be for you. See our Overview for more.
Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options or futures); therefore, you should not invest or risk money that you cannot afford to lose. Online trading is not suitable for all investors. View the document titled Characteristics and Risks of Standardized Options at www.TradeStation.com . Before trading any asset class, customers must read the relevant risk disclosure statements on www.TradeStation.com . System access and trade placement and execution may be delayed or fail due to market volatility and volume, quote delays, system and software errors, Internet traffic, outages and other factors.
Securities and futures trading is offered to self-directed customers by TradeStation Securities, Inc., a broker-dealer registered with the Securities and Exchange Commission and a futures commission merchant licensed with the Commodity Futures Trading Commission). TradeStation Securities is a member of the Financial Industry Regulatory Authority, the National Futures Association, and a number of exchanges.
TradeStation Securities, Inc. and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., both operating, and providing products and services, under the TradeStation brand and trademark. When applying for, or purchasing, accounts, subscriptions, products and services, it is important that you know which company you will be dealing with. Visit www.TradeStation.com for further important information explaining what this means.