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2024-10-16 - priceactiontds - daily update - sp500Good Evening and I hope you are well. tl;dr Indexes - Bears hoped for a second leg down and build decent selling pressure but bulls bought the dip. Nothing unexpected and we likely continue sideways at the highs until bears give up again or more bulls get exhausted and want to secure profits. Technically I expect another leg down but we could retest the highs first. Don’t overstay your welcome in positions. comment: 5850 was the low yesterday and bears could not break below. Weak bears gave up and we closed around the 50% pullback from Tuesday’s selling. Where does this leave us? Nowhere. 5890ish is the worst place to trade now because it’s the exact mid point of this trading range. Wait for strong momentum or until we reach one of the extremes again. These bullish earnings should have taken the market higher by now if you ask me. So there is a decent chance we are forming a credible top. 5850 - 5920 is the current range and until we see the MAG7 earnings, it probably won’t break out of it. current market cycle: bull trend (bull wedge) key levels: 5850 - 5920 bull case: Bulls bought the dip, no surprise there. They want 5900+ next and they will probably continue to buy 5850. No more magic to this. Since it was a bullish close, bulls are very slightly favored higher tomorrow but I would not buy 5886 right now. Invalidation is below 5850. bear case: Bears tried and failed. They have to make the market more neutral and trade sideways until more bulls want out of their position. BTFD is still strong. Anything above 5850 is bullish and bears have to scalp. Earnings will probably set the next impulse to either side. Invalidation is above 5920. short term: Neutral inside given range. medium-long term - Update from 2024-10-13: Very rough guess for the remaining trading weeks in 2024. Spike up, decent correction (~10%), nasty (blow off top) year end rally if earnings hold in Q4. Don’t trade based on that guess. current swing trade: Nope trade of the day: Long the double bottom with yesterday’s low. Very obvious trade that worked greatly.
CME_MINI:MES1!
by priceactiontds
TSLA - Get Ready To Long Again...Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈TSLA has been trading within a big symmetrical triangle marked in blue. Moreover, it is retesting a strong support zone around $200 round number marked in green. 🏹 Thus, the highlighted blue circle is a strong area to look for buy setups as it is the intersection of the green support and lower blue trendline. 📚 As per my trading style: As #TSLA approaches the blue circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
NASDAQ:TSLALong
by TheSignalyst
2
Tesla at a Crossroads: Breakout to $271 or Breakdown to $191Good morning, Trading Family! Tesla’s price is idling in neutral, stuck between a potential breakout to $271 or a breakdown to $191. It’s like watching Elon flip a coin—will it blast off like a SpaceX rocket, or will the bears run out of juice and send it rolling downhill? This kind of consolidation feels like the calm before the storm. Traders, keep your seatbelts fastened—whether it’s full throttle to the upside or a hard brake toward lower levels, this chart promises some action ahead. Stay patient and focused. Trade what you see, not what you hope for. – Mindbloome Trader
NASDAQ:TSLA
by Mindbloome-Trading
GOLD and worldBased on my analysis, I am looking for a buy setup below 2620 to 2590, expecting the market to move upside. iv mentioned my levels where I would like to see the reaction and take partials on this up wave. I am not expecting this upwave to break the ATH, although current geopolitical can make a mess and continue the move to the upside, so securing partials on each level based on the reaction and adding positions will be a good idea to implement here. OANDA:XAUUSD As always market always win, trade with care.
OANDA:XAUUSDLong
by pcnafi
SasanSeifi| Is Ethereum Poised for a Move to Higher Levels?Hey there, ✌ In the daily timeframe analysis, as shown, the price has entered a downward trend from the $4,000 range. Following this price drop, it reacted at the important support level of $2,100, oscillating between the price ranges of $2,100 to $2,800. Currently, after observing demand at the $2,300 level, the price has experienced slight positive fluctuations and is trading around $2,600. Based on the candlestick behaviour, it is anticipated that in the short term, the price may rise towards the important resistance levels of $2,700 to $2,820, with some minor positive fluctuations. If the price breaks above $2,820 and stabilizes in lower timeframes, the likelihood of further price growth towards the resistance zone of $3,000 to $3,250 increases. In such a scenario, monitoring the price reactions at these levels will be essential for evaluating the next trend. However, if the $2,820 level is not breached and the price fails to maintain its stability, the possibility of a price retracement may rise. The long-term outlook remains bearish, with expectations for the price to move towards the $1,800 to $1,500 range. In the daily timeframe, the $2,450 to $2,300 levels serve as critical support. Maintaining the price above these levels is crucial for the desired scenario. Sure, if you have any more questions or need further clarification, feel free to ask. I'm here to help! If you found my analysis helpful, I would appreciate it if you could show your support by liking and commenting. Thank you!🙌✌
by SasanSeifi
Price ActionIn our trading strategy, we focus on 4H identifying key supply order blocks created when the price moves downward. When the price retraces and revisits this supply order block, we will look for additional confirmation signals to enter a sell trade. This approach allows us to capitalize on potential reversals in the market while managing risk effectively. Steps to Execute the Strategy: Identify the Supply Order Block: Monitor the price action for a significant decline that creates a clear supply order block. This area represents where selling interest has accumulated. Wait for a Retracement: Once the price moves away from the order block, we will wait for it to retrace back to this zone. A successful retest of the supply order block is crucial for our entry. Confirm the Trade Signal: As the price approaches the supply order block, we look for additional confirmation signals, such as bearish candlestick patterns, divergence, or other technical indicators. This confirmation is essential to ensure a higher probability of a successful trade. Enter the Sell Trade: Upon receiving confirmation, we will execute a sell order at the supply order block. Proper risk management strategies, including stop-loss placement, should be applied to protect our capital.
OANDA:XAUUSDShort
by Bullionbuzz
2024-10-15 - priceactiontds - daily update - bitcoinGood Evening and I hope you are well. tl;dr Bitcoin - Bulls got follow through and are at my bullish target where I expect a reversal. The July high should hold and we are at the top of the bull wedge, touched the big bear trend line from ath and saw some decent selling above 67000. Swing short for me 66803, sl 70170. comment: Clear 3 legs up for the bulls. Big resistance 68000, two big patterns aligning and bears demonstrated selling pressure above 67000 and are currently trading below. Enough signals to see this as a reasonable short. current market cycle : trading range (big triangle on the daily chart) key levels: 60000 - 68000 bull case: Bulls moved up fast in the last 5 days but are at bigger resistance now. The bear trend line from the ath now held for 6 months, so do you really want to bet on a breakout above? Very hard to make a bull case here. If they break above 69000, I am surprised big time and we can only assume 70000 and higher next. Invalidation is below 64500. bear case: Bears have all the arguments they need to defend the bear trend line. Their next targets are 65000 and then a fight for the bull channel. Below 65000 is 63000 next, which marks my two-legged correction (ABC). I won’t squeeze more words out of these clear patterns. Invalidation is above 69000. short term: Bearish medium-long term - Update from 2024-10-06: Something between 49000 and 70000. Big surprise, I know. I don’t know if we get a breakout of this range in 2024 again. current swing trade: None trade of the day: Short 67000 because bulls could not hold this price since July. Buying 65000 was the next best trade and also obvious because we had a decent trading range there yesterday and in the Globex session.
CRYPTO:BTCUSDShort
by priceactiontds
2024-10-15 - priceactiontds - daily update - daxGood Evening and I hope you are well. dax futures comment: A daily bear bar closing on it’s low. What a time to be alive. Kinda in the middle of the channel now, which is a bad bad place to trade. Both sides have valid arguments. I would rather sit on hands and only scalp on momentum than initiate trades around 19600. current market cycle: bull trend key levels: 19500 - 20000 bull case: Bulls can be happy a decent dip came which they can now buy. Will they buy 19600 or will they wait? I am not sure but would you really want to buy 19600 now in hopes of a climactic continuation above 19800? Hard to make that a good trade. I do think the rally was fueled by momentum, that is gone now. Invalidation is below 19500. bear case: Bears finally got a decent day and they want/need follow through tomorrow. Obvious targets to hit next are 19350ish (breakout price) and the potentially much bigger support at the daily 20ema and the bull trend line around 19300-19350. If we get there, I highly doubt bears will push their luck and we see another strong move up. On the 1h tf, the first target for tomorrow is the open of the week 19536 and that is also where a smaller bull trend line is. Can be bigger support and bears could also give up there. Hard to make a bigger bear case for now but it’s worse for the bulls to blindly buy this just because we dipped some. Invalidation is above 19800. short term: Bullish but a bit more neutral right now, until we know where the next support is and bulls come around again medium-long term - Update from 2024-10-06: 3 Months left in 2024 and I do think the market is in a trading range where the upper area is around 19500 and the lower area is probably 17000 or 16000 if something bigger comes up. Since we are at the very top, I expect the market to go some sideways before trying to go down again. Not so sure about 19491 being the high, since liquidity could see a bigger increase and upside could be higher. We will likely have another 10%+ correction this year and a possible year end rally. Update 2024-10-13: Possibility of a blow-off top to 20000 is there. If we get there, it will be the short opportunity of the decade. current swing trade: None trade of the day: Shorting 19750 was not the hard part about the short trade but holding through bar 38 - 52 was. Had to get short bar 32 or latest 33. Can you hold afterwards? Tough. Open price was an obvious magnet when we hit 19650, so do you want to hold through a 60 point up move when you are short? I did not. Could have gone short below bar 57 but then you see the spike and hope for more and when you hold, market reverses bad again and you are underwater or break even at best. Then you do what? The 15m 20ema was decent to short then but all in all tough because market wanted lower but also produced many big tails below the bars that touched 19600.
EUREX:FDXSZ2024
by priceactiontds
BTC - Short-Term Bearish?Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. The BTC market structure has been very clean lately, which I find interesting. 📉Previously, after breaking below the last major lows (marked in red), BTC dipped . 📈Similarly, after breaking above the last major highs (marked in blue), BTC surged . 🔄 If history repeats itself, and the current last major low marked in red is broken to the downside, we can expect another dip in BTC. However, as long as BTC continues trading within the rising orange channel, the overall short-term trend remains bullish. 🕝What do you think? Will BTC break below the channel for a bearish correction to start, or will it keep pushing higher within the channel to test the $70,000 round number? 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
23