US500/NAS100 evening updateUS500 and NAS100 drawn with completed impulse waves down from 14 October highs.
US500 tagged .618 retracement this afternoon, and NAS100 has formed what looks like a zigzag with contracting ending diagonal c wave.
Highs of yesterday (16 October) reasonable stops for any shorts, with anticipated additional impulse waves down from those highs.
Pitchforks
NAS100 afternoon updatePrice action falling out of the pitchfork without tagging the median line is certainly not bullish...
From 5 August low, I can see a contracting diagonal forming, with waves (1), (2), and (3) having fairly clear three-wave corrective structures/patterns.
Wave (4) in this interpretation would be an expanded flat, with wave c to go below 19614.1 and having Fibonacci and trend-line support to stay above 18676.2.
Wave (5) would then likely finish above 20758.4 to complete the pattern.
BTCUSD morning analysis (bullish)Summary of action for BTCUSD since 5 August 2024 low.
Area in yellow ellipse does not look impulsive. There is a way to get an expanding leading diagonal out of it, but it certainly does not have the "right look". Will need to come back to this price action later, depending on how future price action plays out.
Area in first red ellipse labeled 1. is similarly vague. It might be a zigzag, but again doesn't have the right look. Will come back to this price action later as well.
Area in first green ellipse labeled 2. is not the prettiest impulse in the world, but it can certainly be counted as such.
Area in second red ellipse labeled 3. looks very much like a zigzag corrective structure, bottoming at 58897.55 (which is now the must hold support for bulls).
From what I can tell, price action after the bottom at 58897.55 has two impulse waves up (small green ellipses) and two corrective structures (small red ellipses). The two corrective structures both look like expanded flats, and if true would likely mean price action after 58897.55 is a 1-2/1-2 looking for wave 3 rather than 1-2-3-4 looking for wave 5. Price getting above 69632.35 on an impulse wave off today's low of 65226.43 would confirm that assessment.
Overall, this does look quite promising for bulls, who have been waiting patiently through 7 months of consolidation.
Key level of support today is 65226.43. Key resistance to break is 69632.35. Good luck.
Herding CatIf you find this information inspiring/helpful, please consider a boost and follow! Any questions or comments, please leave a comment!
Ideally it needs to stay above 0.000030662.
On the Elliott wave side it looks like a potential impulse being put in, and we are at the Wave 4 of the larger degree which could mean another move up. If the level metioned breaks it becomes less likely. MO.
0.000028937 is the final level I would want to see it fall beneath.
Trade Safe,
Trade Clarity.
ARBUSDT Long Setup Setting / Layer2BINANCE:ARBUSDT
COINBASE:ARBUSD
📈Which side you pick?
Bull or Bear
SL1 ---> Low-risk status: 3x-4x Leverage
SL2 ---> Mid-risk status: 5x-8x Leverage
(If there is just one SL on the chart, I suggest, low risk status)
👾Note: The setup is active but expect the uncertain phase as well.
➡️Entry Area:
Yellow zone
⚡️TP:
0.5415
0.5519
0.5612
0.5732
🔴SL:
0.5022
🧐The Alternate scenario:
If the price stabilize against the direction of the position, below or above the trigger zone, the setup will be canceled.
YM1! evening updateAnalysis of YM1!.
This count sees price in wave ((5)) of (v), with wave (v) starting at October 2022 low.
From 5 August 2024 low, count in red is less bullish, count in green is more bullish.
If count in red is correct, then 5 must be shorter than 3 (as 3 was shorter than 1), and price will not go above resistance at 45062.
If count in green is correct, price would be in wave 3 of (3) of ((5)) and extend above 45062.
Regardless of whether green or red is correct, each ends primary wave (v), and if median line of pitchfork cannot be tagged, it suggests that price will revisit October 2022 lows.
As price gets closer to 45062, reward/risk for YM1! short off that resistance improves.
RENUSDT 1:1 Long Setup SettingBINANCE:RENUSDT
CRYPTO:RENUSD
SL1 ---> Low-risk status: 3x-4x Leverage
SL2 ---> Mid-risk status: 5x-8x Leverage
👾The setup is active but expect the uncertain phase as well.
➡️Entry Area:
Yellow zone
⚡️TP:
0.03480
0.03530
0.03603
0.03693
🔴SL:
0.03163
🧐The Alternate scenario:
If the price stabilizes below the trigger zone, the setup will be cancelled.
USOUSD Short - 1h - October 8th 2024Based on the weekly chart, price is expected to push lower after jumping higher at the opening. Looking at the short term PF, price should pull back up to the 0.5 parallel to retest which is now a resistance after the harsh daily rejection. After that, we expect it to continue lower and fully form the bottom wick of the weekly candle. We can see we have some confluence between the 50 EMA cloud and the ceiling mentioned above which makes a good entry for sells.
XAUUSD morning updateXAUUSD looks to be consolidating at the top border (2nd target) of both pitchforks drawn.
The origin of the bigger pitchfork is the December 2015 low of 1046.00.
Based on this count, I'd like to see a pullback towards the white rectangle, in the low 2300s, for a wave 4 before a wave 5 targeting above 3000.
ADA long setup / 1:1 SettingBINANCE:ADAUSDT
COINBASE:ADAUSD
SL1 ---> Low-risk status: 3x-4x Leverage
SL2 ---> Mid-risk status: 5x-8x Leverage
👾The setup is active but expect the uncertain phase as well.
➡️Entry Area:
Yellow zone
⚡️TP:
0.3454
0.3500
0.3560
0.3617
0.3674
🔴SL:
0.3196
🧐The Alternate scenario:
If the price stabilizes below the trigger zone, the setup will be cancelled.
BITCOIN long setup / Bulls or Bears, Tell me in CommentsBINANCE:BTCUSDT
COINBASE:BTCUSD
Hello Traders
💥Long position on BTC
SL1 ---> Low-risk status: 3x-4x Leverage
SL2 ---> Mid-risk status: 5x-8x Leverage
👾The setup is active but expect the uncertain phase as well.
➡️Entry Area:
Yellow zone
⚡️TP:
63,900
64,500
65,300
66,150
67,000
🔴SL:
60,100
🧐The Alternate scenario:
If the price stabilizes below the trigger zone, the setup will be cancelled.
Quick SPX Scenario for Retesting Lower Support zoneBINANCE:SXPUSDT
BINANCE:SXPUSDT
SL1 ---> Low-risk status: 3x-4x Leverage
SL2 ---> Mid-risk status: 5x-8x Leverage
👾The setup is active but expect the uncertain phase as well.
➡️Entry Area:
Yellow zone
⚡️TP:
0.2629
0.2596
0.2560
0.2510
🔴SL:
0.2783
🧐The Alternate scenario:
If the price stabilizes above the trigger zone, the setup will be cancelled.
VETUSDT 1:1 Long Setup SettingBINANCE:VETUSDT
COINBASE:VETUSD
SL1 ---> Low-risk status: 3x-4x Leverage
SL2 ---> Mid-risk status: 5x-8x Leverage
👾The setup is active but expect the uncertain phase as well.
➡️Entry Area:
Yellow zone
⚡️TP:
0.02525
0.02551
0.02581
0.02621
🔴SL:
0.02354
🧐The Alternate scenario:
If the price stabilizes below the trigger zone, the setup will be cancelled.
Can $ES Overcome Resistance or It's Another TumbleES has been stuck around this level for a while, this is the point that sent price tumbling in July. This would make sense as the TVC:DXY is also finding support on the 200 week moving average. The longer we take failing to break this level we can be assured that the Dollar will have a cycle low and force the stock market down. The setup in the market is not for one to assume risk but rather manage positions established already, from here markets can unwind for a while and put one under water.
ADA long setup / 1:1 SettingBINANCE:ADAUSDT
COINBASE:ADAUSD
Hello Traders
💥Long position on CARDANO
SL1 ---> Low-risk status: 3x-4x Leverage
SL2 ---> Mid-risk status: 5x-8x Leverage
👾The setup is active but expect the uncertain phase as well.
➡️Entry Area:
Yellow zone
⚡️TP:
0.3625
0.3665
0.3715
0.3760
🔴SL:
0.3370
🧐The Alternate scenario:
If the price stabilizes below the trigger zone, the setup will be cancelled.
ZRXUSDT Short Signal / Bulls or Bears?BINANCE:ZRXUSDT
OKX:ZRXUSDT
Hello Traders
SL1 ---> Low-risk status: 3x-4x Leverage
SL2 ---> Mid-risk status: 5x-8x Leverage
👾The setup is active but expect the uncertain phase as well.
➡️Entry Area:
Yellow zone
⚡️TP:
0.2772
0.2734
0.2695
0.2648
🔴SL:
On the chart
🧐The Alternate scenario:
If the price stabilizes below the trigger zone, the setup will be cancelled.
CHAINLINK long setup / Bulls or Bears, Tell me in CommentsBINANCE:LINKUSDT
COINBASE:LINKUSD
Hello Traders
💥Long position on LINK
SL1 ---> Low-risk status: 3x-4x Leverage
SL2 ---> Mid-risk status: 5x-8x Leverage
👾The setup is active but expect the uncertain phase as well.
➡️Entry Area:
Yellow zone
⚡️TP:
10.62
10.72
10.85
10.94
11.08
11.20
🔴SL:
9.99
🧐The Alternate scenario:
If the price stabilizes below the trigger zone, the setup will be cancelled.
Alibaba: Cheap PricesAlibaba continues to position itself as a dominant force in e-commerce, cloud computing, and international growth. With new developments and expanding global influence, the company offers significant upside potential for investors & business owners and consumers. NYSE:BABA
[Financial Performance:
Revenue Growth: Alibaba reported a 5.9% year-over-year increase in revenue, reaching ¥950.25 billion for the 12 months ending June 2024. This growth is driven by robust performance across its core e-commerce platforms and rapid cloud computing expansion
Cash Flow: Alibaba has demonstrated a solid cash flow of $11.04 per share, with a price-to-cash-flow ratio of 7.68, reinforcing its ability to maintain liquidity and pursue investments
Cloud Computing and E-commerce:
Cloud Business Expansion: Alibaba Cloud continues to expand rapidly, now accounting for a significant share of revenue. It remains a strong leader in China, with international expansion efforts helping it challenge other global cloud providers
International Growth: The company is gaining traction outside of China, leveraging platforms like Lazada in Southeast Asia, a key driver of international growth
Technical and Market Analysis:
Stock Performance: As of September 12, 2024, BABA trades at $85.39, representing a 10.4% gain year-to-date. Despite recent fluctuations, analysts remain optimistic about its future performance
Price Target: Analysts have set a consensus price target of $107.61, suggesting a strong upside potential of over 20%. BABA's current valuation at a P/E ratio of 18.93 remains attractive, signalling room for growth
Strategic Outlook:
AI Investments: Alibaba's investments in AI are expected to enhance its cloud offerings and improve the efficiency of its e-commerce platforms, making it a leader in innovation
Long-Term Potential: Despite regulatory challenges and geopolitical risks, Alibaba's strong financial position and focus on international markets make it a compelling investment for those seeking long-term value.
ATH? Lol.
$84.70 NYSE:BABA