Get started

Pullback

OPEN breaks out. Can it continue?OPEN a disruptive company in the residential real estate sector as shown on the 1H chart has continued out of a pullback. Is the continuation sustainable? I believe that inflation has become imbedded into the economy. Banks have survived the crisis with federal support and action. The Z score and relative trend index are impressive with the present indications. In an abundance of caution, the mass index is approaching the reversal zone above and could be somewhat predictive of a potential reversal. Moreover, the anchored VWAP lines with an origination ten trading days back shows price at three standard deviations above the mean VWAP. Overall, I believe that I should not enter a long uptrend this far into its extension when there are signs based on technical indicators. Instead, I will watch for another pullback or actual retracement.
NASDAQ:OPEN
by AwesomeAvani
📺 Exhaustion through Weekly candle closeWe can observe a 25% pump after price created a Lower Low on the Daily timeframe at $25,128 ( 9 Days ago). The latter half of June has been quite exciting for Bulls. I suppose in March price did a 35% pump in 6 days. Anything can happen as we have seen in the past. Last time price was at this area it distriubted for a week before correcting 11% in 6 Days. 1Hr & 4Hr market structure has turned bearish and this current daily candle has not seen much upside. There has been a change of character since the blowoff +3.77% 1Hr candle printed during Friday's New York trading session. Bulls want the weekly candle to close above 30,329 in 28 hours. This would confirm very strong bullish pressure since we would close above medium term market structure highs created in April. I'm looking at a retracement to the most recent Daily support level at $29,901 through the end of this weekly candle. Looking for the weekly candle to create a larger top wick and pullback to the downside.
COINBASE:BTCUSDShort
by ShrewdCatfx
USDJPY I Slight pullback and continuation of trend +200 pipsWelcome back! Let me know your thoughts in the comments! ** USDJPY Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!
Long
by BKTradingAcademy
3
$TGTX - Pullback and consolidationTop trading idea for next week(s)! NASDAQ:TGTX already proved itself with a strong performance YTD of 125% (and 580% in a year). The stock is in a clear stage 2 uptrend and is now consolidating in between the 21 day MA and 50 day EMA on lower volume (check weekly chart). Has the fundamentals. A few more days of tight consolidation or a quick retest of the 50 EMA would make it even a better setup and creates a launchpad. Entry would be around 28.27 Stop breach of the 50 on high volume or a tight stop low of the day (when it breaks the pivot). Enjoy next week! Other similar ideas: NYSE:SKX , NASDAQ:WING and NASDAQ:ARCT
NASDAQ:TGTXLong
by UnknownUnicorn7024067
Gold to retest its lows, reversal potentiallyGold has taken over 7 days to decline back to its lower low. I don't believe that price is prepared to push lower. I will await a re-test of the lows to indicate whether I will go long on gold at the bottom of its consolidation range. As long as price continues to decline with these indecision candles I'm under the impression that it will suddenly become bullish after a reversal candlestick retest at the low of 4H bullish engulfing confirmed.
OANDA:XAUUSDLong
by DesharedPierreJr.
Potential Market Pullback: ES Futures Nearing Key Fib. LevelIn today's analysis, we will be focusing on the E-mini S&P 500 Futures (ES) and examining a recent spike that reached $4,300 on the 1-hour chart. As the market currently sits at $4,280, we'll explore the possibility of a pullback towards the Fibonacci retracement zone, specifically the 0.618 and 0.50 levels at $4,230 (Location A) and $4,210 (Location C) respectively. Additionally, we'll highlight the significance of previous resistance at $4,230 and the presence of a strong support level at $4,200. Technical Analysis: 1. Spike and Fib Retracement: The recent price action in the ES futures witnessed a spike to $4,300, indicating a short-term bullish momentum. Drawing a Fibonacci retracement from the lowest low at $4,120 to the highest high at $4,300, we find the 0.618 retracement level at $4,230 and the 0.50 level at $4,210. These levels are important markers to watch for potential price reactions. 2. Previous Resistance: The $4,230 level coincides with a previous resistance zone, adding further significance to this price level. Markets often tend to exhibit support-turned-resistance behavior, suggesting that $4,230 could act as a significant barrier to further upside movement. 3. Strong Support at $4,200: Additionally, we observe a strong support level at $4,200, which has held firmly in the recent price action. This level may attract buyers looking to defend the ongoing bullish trend and could potentially contribute to a bounce or reversal in the price. 4. ADX Confirmation: Adding to the analysis, the ADX line (white) is currently declining, indicating a weakening of the recent bullish trend. Additionally, the Di- line (fuchsia) has experienced a recent spike, signaling increased bearish momentum. These ADX readings support the likelihood of a downward move in the near future. Given the recent spike and the presence of key Fibonacci retracement levels, along with the previous resistance-turned-potential support at $4,230 and the strong support at $4,200, it appears likely that the ES futures could experience a pullback into the $4,230-$4,210 zone. Traders and investors should closely monitor price action around these levels for potential opportunities, considering factors such as candlestick patterns, volume, and additional technical indicators to confirm the validity of the expected pullback.
CME_MINI:ES1!
by maybethatguy
Long trade in ONONUBS analysts doubled down on its bullish view on the stock today. They have Buy rating on ONON and a price target of $42. Shares are up 5% today on the news. This stock has been a favorite of mine for several months. It went public in late 2021. It performed great initially. But the 2022 bear market gave it a beating. ONON has more than doubled off its 2022 lows and the company is growing sales at an astounding 80% quarterly rate. Shares dipped below the 50-day moving average (red line on chart) in May and did an “undercut & rally.” This is where a stock will breach a previous support area triggering thousands of stop losses and taking investors out. Institutions often buy here and drive the price back above support (dashed line on chart) to continue the move higher. Investors may consider buying here with a 10% stop loss near 27.25.
NYSE:ONONLong
by rossgivens