NQ- the big shortNQ in particular due for big pullback/correction as tech sector is severely overbought.
Reasons for further downtrend
- descending wedge which may likely hold price action for quite some time. bottom edge of wedge is lower side of parrallel channel.
- descending triangle which is a continuation pattern very often.
- weak pivot.
- incredible RR ratio.
- with trend trade.
Pivot
PINS at Pivot PointCan play PINS both sides here depending on its reaction to the currently tested trendline (ascending dashed green line)
Price predictions are based off of supply and demand zones as well as Fib extensions.
Price movement (Blue and Red lines with arrows) isn't a a firm prediction but more of an indication of what important levels may be tested on both down and up-side.
$PLTR in a falling wedge reversal here.$PLTR in buy zone territory, new interest has been showing up in volumes around 27-23 price range. Held near support area.
@CathieDWood
@ARKInvest
seems bullish on this, will be watching for another run up.
Short Term Target: 33
Short Term Target 2: 41
Catch the London breakoutPresented is a buy analysis with the 1 hr chart.
We see continued support along 1.74800. With the MACD/SIGNAL cross at a key trading time (London Session open) near I sentiment this to be a pivot off support.
RSI is rising out of oversold zone and gaining momentum while RVI is curving into a cross and then through zero line for trend/volume confirmation.
Current strength and sentiment is heavily in the sterlings favor.
My TP is zone is our key resistance of 1.76000 with a stop loss below current support.
Please comment with thoughts and ideas. Thank you.
Time induced pivotWhen I first got a niche for FOREX the first thin I noticed was huge pivots with any given pairs at 2/3am (Ideal trading time for Asian session).
That being said along with the knowledge of this key pivot time, my RSI and MACD indicator correlate immensely with these pivots. This idea is an example.
Presented is a 1 hour chart buy analysis for EURCAD. Previously we saw low volume consolidation along support. 2am wick serves as our first potential indicator for reversal as MACD/SIGNAL made a cross and are shooting for 0 line while RSI breached indicator resistance. Both indicators sentiment towards a buy.
We then see a significant increase of buyers volume. We can sentiment buyers control until we observe our MACD play out. If MACD/SIGNAL make a full cross through 0 line we are then watching our take profit targets. If MACD/SIGNAL make a pivot immediately prior to touching 0 line we then observe for a full pivot or pull back by observing our 4 hour chart. Close out either way for maximum profit and renter at pullback/ next support retest.
Stop loss below current support with a bar close out.
Please comment with thoughts and ideas. Thank you.
Pivot Support ZonesThe previous idea on the daily time scale was confirmed. A daily close below 54.3k (monthly R2 pivot point) and the next support level would be at 48.8k, which is right were we are at.
Following the same idea, if we get a daily close below the 48.8k level and next strong support level is in the 41k range.
The convergence of weekly and monthly pivot points as well as the previous ATH at 41k strongly suggests we might retest this level.
#DCAthedip
Sell off to Buy off and test 60 KWe had a scary dump below 50K only to fake out and return right back into the respectable trading zone. This was a one time opportunity for buyer to load up at 48 K to shoot for 60K.
Presented is a one hr technical analysis. We see confirmed support with a pivot at 51900.00.
Our MACD/SIGNAL are completing the initial cross while RSI is popping out of the oversold zone. I also added the super trend to verify a change in trend once a bullish bar touch the sell trend line (red). Naturally our buy trend will be triggered (green line).
Please comment with thoughts and ideas. Thank you.
DXY Technical AnalysisFinally we have a clear reaction at a key support retest (90.00) that being a high volume pivot as expected. Although DXY dumped 90.00 has been an established support with DXY previous momentum. Correlating pairs to DXY such as USDCAD have matched major support retests as DXY.
Our indicators with help confirm continued momentum off our support pivot. MACD/SIGNAL are setting up to make a clean cross with Histogram bins correcting. RSI is deep enough in the oversold zone to breach for the oversold zone pushing the trend through first retest to retest top resistance at 91.00.
Furthermore, I added a super trend indicator which will ultimately confirm a change in trend from the bottom support pivot. When a bullish bar intercepts the sell super trend (red line) a buy super trend will trigger (green line).
Our pivot zone is mapped between 90.500 and 90.700 which follows previous uptrend play within mapped zone.
Please comment with thoughts and ideas. Thank you.
GBPUSD Ascending Channel Trend Angle Analysis #2Welcome to my second trend angle analysis for GBPUSD. Previous trend angle buy analysis was a huge success. Presented is a 1hr sell analysis within an ascending channel.
Within my set chart dimension the trend angle sell off top channel resistance is around 21-22 degrees. Given continuous pattern I sentiment a bottom channel support retest which lines up with our established support at 1.39500.
Currently we may see a slight pullback to dive back into our sell off to bottom support channel. A breach of top channel resistance tells us a significant long-term continuation in play to set a night high, passing our April 2018 highs.
Our current indicators sentiment a sell off of some sort. MACD/SIGANL completing a diversion to shoot for the 0 line. Our RSI is looking to drop for a reset to enter back into the overbought zone once we have a bottom support retest.
Attached is my previous analysis using this strategy. Please comment with thoughts and ideas. Thank you.
Before 60. Sharp pivot retraceAs is almost always the case. runaway prices magnetically pull to their newly plotted central pivots.
That level coming a couplesand below. Is not something Ican do. However Ican give confidence as we go slowly and maybe lucking that retrace will also be our dip buy opportunity to 60k
Just be careful and take profits here. Dont buy untilt that pivot area. and dont care like you do not.
Camarilla pivots + CPR
EURUSD Short - Fibonacci Entry short (against major trend)Hello all
Although the USD is weaker on higher time frames and in general all pairs XXX USD are heading higher on the daily / weekly and monthly time frames.
Based on current cycles making new lower lows, I am looking for price now to make a new lower high and in turn at this fib level of 61.8% retrace of the previous leg lower start to make its second faster push lower to the current weekly S2 level.
Lets see what happens next
Cheers
Duncan
Gold reached Key Low Support For a PivotGenerally we see a picot at this support retest. Seemingly we see this in play on the four hour chart.
MACD indicator checks as MACD/SIGNAL are finding common support and not looking for an initial cross to pursue the 0 line. RSI is making a huge sweep out of the oversold zone as a strong pivot begins.
I mapped out a consolidation zone within this level that could play as a pivot zone given the DXY strength. Recently we saw a slight downward gap in DXY that was quickly filled in frantic. However this could be a looming sign for a break in the greenbacks strength.
On an off note we can see Bitcoin soaring while the Greenback has been strong. We can correlate that when Gold is going up Bitcoin and DXY are going down and vice versa.
Please comment with thoughts and ideas. thank you.
GBPUSD Ascending Channel Trend Angle AnalysisWelcome to my second analysis using the trend angle tool within an ascending channel. This strategy intrigues me as I trade largely dependent on patterns and price action.
Presented is a 1 hr chart with an inner bottom support that serves as an early pivot with the main bottom support beneath. Furthermore our top channel resistance correlates with the ascending pattern. Notably trend angle ascend off channel support is trending at a 52 degree angle.
Naturally I calculated a 532 angle ascend from the recent pivot in play. Our first take profit is at our previous high with second take profit breaching through Top/Bottom straight channel resistance to retest our ascending channel resistance.
Our MACD and RSI are confirming our current ascend. MACD/SIGNAL crossed along support to trek towards 0 line. Our RSI is trading at an indicator angle of 52 degrees matching our chart angle trend.
Please comment with thoughts and ideas. Thank you.
Trend angle ascending channel analysisNote: This is a fun/practice analysis using the trend angle tool within ascending/descending channel patterns. Do not take this trade literal.
Presented is a 1 hour chart. We can scope out an ascending channel patter as presented. Using the trend angle I calculated a 50 degree angle ascend to retest top channel off the bottom channel retest in play.
My take profit marks correlate to pivots within the channel. With a MACD/SIGNAL cross and up through the zero line we may see a push to retest the top. If this occurs our RSI will match a 50 degree trend angle according to chart trend.
Please comment with thought s and ideas. Thank you.