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Pullback

#EURGBP buying opportunityHello, traders. Let's examine the EURGBP chart, where the price is currently completing a pullback to the broken short-term bearish trendline after a change in market structure towards the upside. This provides us with an opportunity to position ourselves in alignment with the higher time frame. When you review the Daily timeframe, you'll notice a bullish impulsive move that has occurred. Since reaching the recent high, we've been experiencing a bearish corrective move until yesterday. The price reached a critical support area and formed a bullish engulfing candle, which closed above the high of the previous doji candle. This suggests that the bearish momentum may be coming to an end. Following the formation of the daily bullish engulfing candle, on the 4-hour timeframe, we observed a downward move. The price retraced to approximately 50% of the previous day's candle and approached the 200 EMA. These factors provide significant confluence for considering a buy position from this area. Furthermore, the price is currently testing the daily pivot area. Since the price opened above the pivot and is now testing it from above, this indicates that the price may continue its bullish momentum.
Long
by mohemati
3
TSLA watching for 255-253 again todayThis move is highly unsustainable for NASDAQ:QQQ - I called a bull run this morning @ 10 AM. We are up +2% almost on AMEX:SPY SP:SPX AMEX:DIA - watching for pull back now on buyer weakness and reality setting in. But why TSLA? Why not NASDAQ:NVDA or NASDAQ:AMD ? TSLA had "bad news" today With a market pull back, TSLA will get smacked the hardest. Maybe even back to 250. Risking $40 on 0dte to potentially make $200. High R/R. I ran out of minds so posting here.
NASDAQ:TSLAShort
by kingdips
2
Last Down Week for Stocks. Last Up Week for the Dollar.Traders, The dollar is now starting 12 weeks of green. You can see that today it has touched the top of its channel and that has acted as resistance. Additionally, the RSI shows that the dollar strength is now over-extended. I smell a pullback coming very soon. Possibly before the weekend. The SPY (which correlates in part with other major indexes) has this Head and Shoulders pattern in play. Target down is 410. But as I questioned in one of my last videos, is it possible that the target down will be cut short - held up by the 200-day sma which closely correlates with the bottom of my channel? This will act as a huge area of confluence and give the SPY good support. It is possible that the SPY is held up from falling further at this point and this makes sense when looking for clues from our dollar chart. A fall in the dollar would likely correlate to a bounce in stocks. I believe it is reasonable to conclude that stocks will end their pullback soon and we can expect a bounce upward at either the channel bottom OR our target down of 410. Though, I am not sure that the SPY will maintain its posture within the ascending channel, I do not believe this is the end of our upward movement and blow-off top in the stock market ....YET. Best, Stew
TVC:DXY
by stewdamus
BTCUSDT Looking Bearish in the Short TermMultiple indicators have signaled bear as well as overbought conditions for Bitcoin on the 15m chart. This makes sense because Bitcoin has just experienced a pump within a short period of time. Usually, this means a retracement will follow as market participants will be compelled to take profits which means selling in the shorter term, a potential dip may be an opportunity to buy as we are likely to go higher in the longer term. All TradingView ideas are meant to be for educational purposes only.
Short
by AutomatedTradingAlgorithms
4
🟥 Divergence on NAS vs Stocks above 200D - cautionI have spoken about this since begining of the year but now it materializes nicely. The market has never survived narrow niche rallies and this has never been the characteristic of a bull market. As you see the Nasdaq Composite has started to pull as the percent of stocks above their respective 200 D Moving average is well below 40%. To be confident that we are really oversold I would like to see the TVC:VIX go to above 25 on this pullback. Caution is advised.
NASDAQ:IXICShort
by TintinTrading
HPAL - At Support - Pullback TradeI identified this stock as a probable candidate for a breakout trade (Refer to the previous post linked here) And we did see a breakout and run up to 540-550 levels. Now the stock has come back to the breakout level, the previous resistance area which now would serve as a support area( 455-463) and this week a hammer-like candle is also formed in the support area, portraying a good opportunity for a pullback trade. The structure of the stock is still very positive and this could be a great risk to reward swing to positional trade. The initial target is recent highs i.e. 540-550 and the further target is around 600 levels. Close below 450 would negate the trade.
NSE:HPALLong
by manuagarwal21
2
$US500 SP500 forecast.Here's what I'm looking at. I still think $4100 is on the table for a bottom. Reason being, there's multiple levels of confluence there. 1) If you take the AVWAP from the Jan 2022 highs, it comes to around $4100 2) It's a horizontal level 3) It's roughly the measured objective of the Head and Shoulders break down 4) It's also coming in around the 0.618 fib level. Of course there will be levels of support along the way, one being the current $4260 area. This $4260 area is also a confluence of support with 1) It's a horizontal level on the weekly 2) The 200EMA on the Daily chart 3) The AVWAP from the recent March 2023 lows. Either we see a bounce and recovery from here ($4260 area) or if we break lower we'll see 4100. For now, I still think $4100 may be the low for this correction.
PEPPERSTONE:US500
by HaseebKhan_90
#CHFJPY bullish continuation*please be sure to remember that today we have FOMC meeting and they are going to announce funds rate and their policies for coming meetings with a high possibility of a lot of movement in all pairs. As you can see in the chart price broke above short-term bearish trendline with strong 4H time frame Marubozu like candlestick which revels buyers strength. This bearish move since the completion of 4H time frame candle can be interpreted as pullback to test the broken trendline and its possible to be looking to buy in this area.
Long
by mohemati