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Swing It Into A Potential CrashIn summary, if you are in (or considering buying) shares, this is Mid-term bearish. I would highly recommend against entering or adding shares here. You will likely have a better chance to exit/sell in the 330s around March 11-12th. For those playing options, I can share my strategy - you'll have to be nimble to swing this for profits, but very do-able since I know the path it will take from here. The smarter strategy is to wait until this confirms a higher low and then short it around March 12th-13th, But if you like making real money on weekly options with high risk here is what to do. Not Financial Advice. To follow this chart, just pay attention to the thick black arrow - that is my forecast/path that price action will take. The thick red and green arrows align with the black arrow. Read below to see the exact levels and pivot dates I am looking for. - PANW will likely pullback some more to 276-290 (-4% to -9% from current price: 302.40). This will happen fast - by March 5th End of Day (3/5/2024). So IF it doesn't gap down Monday, I'll be buying a few Mar 8 295 puts for ~3.40 and then looking to sell for over 7.00 Tuesday 3/5 before the close . But if it gaps down Monday 3/5 (which is possible), I'll be holding off on this swing and waiting for my chance to swing long. Hard stop loss will be a break above 306 at any point, if it breaks above 306 that is first near-term bullish signal, if it breaks above 315 it will confirm it has started next bullish leg. - After the small pullback to expected range of 276-290, PANW will make its last bounce to around 327-338 (depending on where it bottoms in current down leg, this is a possible +16% to +22% bounce coming). Once I sell my Mar 8 puts on 3/5 before close, I will immediately buy Mar 15 300 calls - the premiums should be around 3.00-5.00 at this point but it will depend on where it bottoms exactly. The bounce will last through 3/11-3/12, so I will be looking to sell half my calls at 327 (for at least 27.00) and then sell the other half around 338 (for at least 38.00) *** After this bounce to 327-338, the real downside will begin. I will send an update with my precise target when we see how this plays out and at what levels it bottoms and tops in this path/forecast, but my estimate target is 210-240 by end of March to Early April (Potential for a 100 point drop!!). I'll be going big on April 19 puts when this bounces to the 327-338 range. Stay tuned for updates along the way.
NASDAQ:PANW
by JerryManders
394
SasanSeifi 💁‍♂ PFE /DAILY ⏭ $28 /$30Hey there,✌ NYSE:PFE In the daily timeframe, as observed, the price is currently fluctuating within the $25 range following a prolonged downtrend. The long-term trendline has been broken, and we can consider the following scenario: if the demand range is maintained, the price may experience positive fluctuations up to the $28 range. Then, if the $28 ceiling is breached and stabilizes above it, we may witness an upward trend and a new higher HIGH beyond the $28 ceiling. The desired targets in the long term and potential trends are also indicated in the attached image. The $25 demand range is crucial for the envisaged scenario. Moreover, if the price penetrates below the $25 range, the likelihood of further correction increases. This is not financial advice. Always do your research before making any investment decisions.❗ 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!🙌
NYSE:PFELong
by SasanSeifi
Embracing Uncertainty: The AUDCAD Resistance Saga - A Battle of In my analysis of AUDCAD, I pinpointed a specific area marked by ultra-high volume, suggesting a potential retest of this zone. It's worth noting that such areas are typically revisited in the majority of cases, prompting the question: am I anticipating weakness in this currency pair? Maybe, maybe not... Let's delve deeper. Examining AUDCAD on the weekly timeframe unveils a potentially bullish scenario. Two weeks ago, a down bar with low volume hinted at minimal selling pressure. Last week's bullish engulfing candle further reinforced this sentiment. Should the bullish trend persist, my immediate resistance level stands at 0.90640, potentially leading to retests at 0.93500 and even 0.95000. On the daily chart, an intriguing observation arises. Despite a widespread up bar indicating "No Demand," Friday's price action continued its ascent, defying this technical signal. Such behaviour strengthens the overall bullish narrative in AUDCAD, suggesting sustained upward momentum ahead. However, the 4-hour chart signals potential weakness. An up bar with ultra-high volume closing mid-range indicates selling pressure. The last 4-hour bar of the trading week confirms this with a downward trend. In conclusion, which direction will this currency pair take? My prediction leans towards an upward trajectory, contingent upon confirmation of strength from the weekly and daily charts. Upon breaching the resistance level, I'll be vigilant for signs of testing or absence of supply, particularly focusing on low to ultra-low volume across the 1-hour and 4-hour charts. Conversely, if prices retreat from resistance and trend lower, I'll be on the lookout for indications of no demand or upthrusts, especially across the hourly and 4-hourly charts.
by one-good-trade
EurUsd treads in a Gray area preceding April NFP 📌What a Trading day.. a Continuation followed by a sharp selloff. The continuation was called out here at ShrewdCatFx and the Selloff was punishment to late buyers I suppose. NFP data tomorrow will likely take us for a ride as It typically does.. Direction? I'm leaning for more upside despite our weak Daily candle closure today. Why? I like the optimistic remarks by the fed this week and the market ate it up. Yes we've pulled back dramatically leading into NFP data tomorrow but the weekly candle is still bullish and US30 stock index is at a nice support level(after pulling back all week), suggesting a Risk-on Friday. 4hr timeframe, wild week with dramatic selloff to begin followed by massive move up with USD data and speech Daily timeframe, Buyers rejected as the Thursday Daily candle closes a shooting star candle that coincides with a Daily resistance level 1.08372! The Weekly timeframe, price is respecting 1.07652 so far this week but we still have NFP which could cause a lot of volatility Monthly Range!
Long
by ShrewdCatfx
Optimistic Market on remarks by Fed Chair, J Powell ♦️The Market is Flying with Optimism after ADP data was better than Forecasted, Services data missed forecasts but Fed Chair Jerome Powell has said that he does not think that inflation is reversing higher. The monthly candle has flipped bullish along with the Weekly candle as price has done a complete 180 from our initial selloff early in the week. Yes, we dropped to begin the month but it was the first day of the month and each monthly candle has a top and bottom wick. The tuesday daily candle closed back above the weekly level 1.0765. The wednesday daily candle dropped slightly and retested 1.0765 prior to blasting to outer space. That is one mighty candle and trading against itis not impossible but will require extra monitoring. We observed some very nice volatility today as we completely blew through the daily resistance zone 1.079 and are currrently testing daily resistance level 1.08372. The asian session 4hr candle closed above this daily level 1.08372 and we may keep flying . If not, and we come back down to earth, then I anticipate a retest of 1Hr support zone 1.0833 prior to more significant buying pressure. London may just shoot up to the next 4hr zone then pullback as we transition into New York Open is another scenario that could play out. We may observe some volatile ranging prior to NFP on Friday. It's important to look left to see what zones are most relevant for the new days trading. the prices I like for the upcoming sessions include 1.08429 1hr zone, 1.08524 4hr resistance zone, and 1.08330 1hr support zone.. safe trading
Long
by ShrewdCatfx
Bullish Retracement on EURSUDUsually, I do not advise trading against the trend.It is obvious that the market is in a bearish run.However,I see price clearing the INTERNAL RANGE LIQUIDITY upward to a more premium price for sells. Therefore, I will be looking for buy opportunity IF price breaks April 2 high to the newest buy-side liquidity as shown with the arrow. NOTE THAT WE ONLY REACT TO PRICE WE DO NOT PREDICT... THIS IS A RISKY TRADE AS IT IS AGAINST THE TREND kindly ENGAGE and SHARE your view if you think otherwise... LIKE and FOLLOW
Long
by timmyakin45
EurUsd Pullback treads between Key Level's 1.0765/1.0790 🎚️Hello Traders.. In our previous analysis (24hrs ago) we called out Longs/Buys from 1.0732 and price is currently 1.0770, an increase of 40 pips. The Monthly candle pulled down to begin the month and as we enter Wednesday the candle is returning to Break even after dropping 60 pips. The market now treads above the weekly level 1.0765 and will this sustain until the end of the week.. it's possible although I dont think we've seen the end of USD momentum this week but maybe we have. Maybe the market will pull up it's pants and the Eur will make a difference lol. The Tuesday daily candle closed bullish back above the weekly level 1.0765, this level we must watch closely... The wednesday daily candle already broke the high of the previous candle .. hmm... If we do head bullish I see us tapping into the daily resistance created on Monday at 1.079. Otherwise we created a daily support level today with the Bullish candle close at 1.0742. We do have a good amount of data in the upcoming session which could cause some volatility. I can see buyers pushing price to the Daily level 1.079 where we may see Sellers step back in. Today's session could be tricky and flexibility will be key.
by ShrewdCatfx
Bitcoin's ATH Struggle: Eyeing a Retest of 59K Ahead HalvingAs Bitcoin grapples with momentum after reaching a new all-time high (ATH), the approaching halving event casts a spotlight on significant price levels that could dictate the market's next big move. With the bulls facing resistance in pushing beyond the ATH, a retest of the 59K support seems increasingly plausible. The 59K level is the immediate support that may come into play as the market digests its recent gains. This region is pivotal; holding above it might reaffirm buyer strength, while a break below could indicate a shift in market sentiment, prompting a reevaluation of bullish commitments. In the event of a breakdown beneath 59K, the lower support box emerges as the primary area for potential re-accumulation. This zone, highlighted by previous consolidations, may offer a strategic entry point for traders looking to buy the dip, anticipating a resurgence in buying pressure post-halving. Investors and traders should be prepared for this potential scenario by considering the 59K level as an initial barrier for defense and the lower box as a second line of support. A successful retest of these areas could well be the precursor to the next leg up, as past halving events have often preceded significant upward trends. Maintaining vigilance around these key levels is crucial as the halving approaches. It's advisable to have a clear risk management strategy, with well-defined entries and exits, to take advantage of the opportunities that the retest of 59K and the lower support box might present in this dynamic landscape.
BYBIT:BTCUSD.P
by Oak_the_trader
1