The weekly on btcusd.An old trendline drawn on long-term cyclical lows, today seems like a good resistance where perhaps the price will have a small moment of pause, perhaps in the short term (3 weeks - 1 month). Last week's closing above the historical highs or in any case in that area also seems to give continuity to the bullish trend, but here now it is more important to try to understand the signals that could lead to a short-term correction or the more important one in the intermediate period. Understanding in time when the price will be in intermediate correction, as we have already seen in the past, becomes essential to recharge or get on the train which at this point only an unexpected catastrophe could stop. With this I don't mean to say that the time has come to sell, but quite the opposite, this is a good time to take advantage of a share for those who already have huge percentages in their portfolio, otherwise there is nothing to do, just wait for the possible corrections and buy. Today it's easier to say, it's true, I was lucky enough to get a lift in time which then proved to be the right one, except that if we didn't follow our experience, we'd be complete asses.
Pullback
EURUSD 10/3/24EU markup here with almost the same thing as GU with a nice run of the highs on Friday.
Looking for a drop here early on our week to lead us into a potential lower priced buy move, mainly we are looking towards our last low as liquid and the demand responsible for the push above our major highs on Friday.
il be looking for low risk shorts from our liquid sweep and then some new long positions from the highlighted demand below, leading us into a new high move and giving us a relatively good pullback move!
trade what you see and not what you want!
GBPUSD 10/3/24GU ran major highs on Friday, and we have seen that the markets what higher prices so we of course will follow this rally as we have from the major lows at 1.25400.
The ideal move for us here is the price to pullback into a lower areas and give us a nice long move out of said areas, we have seen a pretty big shift into our highs without pullback so this is what we are looking for, 50% pullback move lower to the demand that broke the highs and caused our HTF BOS and sweep of the same highs.
lets see if we are lucky enough to get this i am also looking for some low risk shorts from the liquid move that we have just seen take out the 4HR highs.
lets watch what price does and then act accordingly!
MRVL has a melt-down trader reaction to mediocre earnings LONGMRVL on the 2H chart had been in a trend up since February 29th when it broke out of the
high volume area of the profile in a pre-earnings run . Earnings were reported and MRVL
more or less matched the analyst's forecasts. Price sold-off in the aftermath of trader
disappointment. I held a large position of both shares and options but sold off half of
the positions two days ago to capture some profits. I see MRVL as still above VWAP
and so in buying territory and now at a price level supported by the first upper anchored
VWAP line as well as the upper boundary of the high volume area. It is a strong stock which
I do not believe will make a full Fibonacci retracement. I will now add back into my
position half of what I sold a few days ago. and expect a bullish continuation. On a lower
time frame, I have guidance from the inside bars that price is printing in the after hours.
When regular trading arrives on Friday, I will buy call options for mid-April striking
$85 (OTM).
Nvidia - $1000 And Then DropHello Traders, welcome to today's analysis of Nvidia.
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Explanation of my video analysis:
Starting in 2018 Nvidia stock has been trading in an obvious rising channel formation. We had the last retest in August of 2018 which was then followed by a +650% rally towards the upside. Considering that Nvidia is now approaching the upper resistance of the channel, I do expect a (short term) pullback to retest previous support and then more continuation from there.
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I will only take a trade if all the rules of my strategy are satisfied.
Let me know in the comment section below if you have any questions.
Keep your long term vision.
I Can't Believe It. I've Gone Short on Bitcoin!Traders,
True to form, though I rarely do this anymore, I’ve gone short on Bitcoin. My entry was immediate after hitting that resistance level at $60500 which I discussed in the last post.
Target will be $48,300
Stop out will be about $63,000
RRR is nearly 5/1
I am confident here so I’ve risked nearly 50% of the trading portfolio. But I will definitely be taking profits at every level (see chart above) along the way.
Best,
Stew
Waiting for pullback on RNDR
RNDR didn't manage to break its all-time high leaving a nice cup & handle pattern
Expecting a pullback for the handle before going higher.
I will accumulate heavily on the pullback
The btcusd weekly.Week that ends with a candle of indecision, the price after a two-week ride has found a level on which to rest. The market is currently recharging its batteries for the next attack on the resistance at 58k USD, which I consider to be much more important than the one it stopped at this week. A scenario that seems to be taking hold when looking at the data on derivatives (futures and options) could be to see the price correct on the support around 49/48k USD, the most classic of pullbacks, both scenarios enter the bullish context, therefore As soon as buyers see lower prices, they will probably increase their purchases.
The MacD on btcusd.After a very powerful acceleration, the price found a short-term resistance where it could take a breather. This has thrown a bit of fear into many people, I think it's normal. The tension is high and therefore in some cases the fear of lost profit or mental tiredness sets in. Holding a position open for a long time takes up a lot of energy, so it's okay to take benefits when possible. The MacD highlights how we are in a good moment to recharge, perhaps taking advantage of the panic of those who do not know how to manage feelings. In trading these people are often called a herd of oxen or retail, even if from the numbers we see, at the moment retail is very few, I hypothesize that they will enter the highs or the last wave for the luckiest. The possibility of seeing the price below 50k USD is not excluded, even if the bullish force is always there with buyers crouching just below, ready to take advantage and stop the escape of some lucky calf.
The weekly on btcusd.The weekly close that the price has drawn is a good signal given that it closed above the previous high made with a shooting star, therefore the short-term retracement is over and we could see weekly candles of +10%. The market here is cleaning up some excess due to the rise and break of the previous highs at 49k USD, therefore in the short term or rather very short term. After breaking an important level such as the 45/49k USD area, the price here is telling us that it has bullish intentions, there is no doubt, the strength is there, the volatility is evident, what else is needed? We are in a moment that seems like the prelude to a bullish explosion, I do not exclude that the price could also catch its breath a little in the short term given the ride of the last 20 days.
AMD - More liquidity to be built? Rare short term short opp.I am bullish on this stock longer term as most everyone is but it's rare to have a clear short opportunity to capture the pullback - and with the 5day and 20day averages sitting so close this could be our shot.
As always, keep you posted with more analysis as price develops!
Happy Trading :)
Nice runThe SP has had a nice bull run the past 5 weeks. Now is hitting an important psychological and technical resistance at 500. It might try to break it on the upcoming days but I think it's going to pull back hard soon. I'm already taking profits I have cash sitting there until new opportunities come. I still have some long positions but I'm mostly in cash. Also I'm long in the Dollar on short term. Looks strong, I'm shorting AUD/USD and GBP/USD.
Don't be greedy, be smart and patient.
EUR-GBP Risky Short From Resistance! Sell!
Hello,Traders!
EUR-GBP made a rebound
From the support of 0.8500
Just as I predicted and went
Up nicely but will soon hit
A horizontal resistance level
From where I think we
Will see a further move down
Sell!
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BTCUSD - Is the bull-rally over or just the beginning? Hello traders, investors and community. Today i am analysing BTCUSD and what will probably happen next. In my chart we are looking on the daily price of BTCUSD. In my chart you can see the huge suppy zone right where we got rejected the last days on june 26th. This is a critical zone because we have supply there from the bear-market 2018, you see the BTCUSD price has just marked some upthrust over the 11800 - 14000 level and got rejected in the supply zone, this is because traders taking profit and more important investors who held BTC from old days leaving the market. In my chart you can see this dashed dark blue trend line, this is an important area for BTCUSD because we have temporary support here. When we cross the blue trend line in this are which you can see on my chart the next target will be the second large blue trendline and the support zone in green which you can see on my chart. We have also good support there provided from the high 9900, you can see it at the dashed light blue trend line.
My expectation is that BTCUSD gets some upthrust back in the supply area where it will be rejected by the huge supply lying in this area. When we come back to this area i will open a short position there at 13000 - 13700 with targets at 9500 - 9000. This is a good oportunity to trade the upcoming turbolences.
Also looking on the RSI provided in my chart you can see that the RSI reached a critical level at overbought conditions, there is also a bearish divergence which makes the probability higher we are facing pull-backs in the future.
Practically speaking the bull-rally can not be over, there are just some turbolences coming the next days! After the pull-back from the support zone we have to see if BTCUSD makes a comeback and is going to form new highs or if it fails. I am optimistic that we can easily reach new highs after the pull-back, but it is always better to keep the other possibilities in mind until then i will trade this market on the SHORT side.
Have a great day! I hope you enjoyed my analysis! This is only educational information and should not be used to take action in the markets!
Will be back analysing crypto, forex, stocks! Peace and love to everybody!
RSI Negative Divergence: Possible Market Pullback (SPY, QQQ)UNDERLYING PRINCIPLE:
Divergence between Futures/Stocks/ETFs and their Relative Strength Index (RSI) can be used to predict a bottom or a top. This method is more useful in determining a reversal in overall market than an individual stock. To elaborate the principle let's assume the market is making higher highs but corresponding RSI is making lower highs. Together this uptrend in the market and downtrend in RSI show that the market is losing strength as it is climbing up. Which essentially implies a reversal/pullback in the market.
The same principle can also be applied in determining a possible bottom in the market. Say if the market is making lower lows and corresponding RSI is making higher lows. In that case we can expect an upward reversal of the market.
Current Scenario: Possible Pullback
To inspect the current market I used weekly and daily charts for Nasdaq and S&P 500 ETFs NASDAQ:QQQ and AMEX:SPY .
In NASDAQ:QQQ weekly the negative divergence is eminent as the ETF is making higher high but the RSI is making lower high. If we zoom further into a daily setup then the same negative divergence can be spotted:
For AMEX:SPY on the other hand no divergence can be observed on a weekly setup:
But on a daily setup a Negative Divergence can be detected:
Recent History: Bear Market Bottom
As you can see in both weekly charts, the recent bear market bottom has been identified using the same method: A Positive Divergence.
Thanks for reading.
Polkadot(DOT): 200EMA Rejecting The PricePolkadot is looking similar to Litecoin, where 200EMA is acting as a pretty strong rejection zone, which is pushing the price lower and lower with each touch.
We are looking again for that lower zone (greenish) to be broken and a movement towards that target zone.
Swallow Team