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#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
Dollar Bulls May Win!Traders, We have been monitoring the U.S. dollar for years now. It is, by far, one of the most significant variables in monitoring what price action may do elsewhere. Almost everything here in the U.S. hinges upon it and its ripple impact is, without a doubt, global. Crypto most certainly is not excluded. I was early to spot this Head and Shoulders pattern. It was in October of last year that I think I first speculated this ominous pattern may be forming on our DXY chart. But I was not really clear then whether or not it would truly form and furthermore, if it would play out. Fast forward to today. I am still not clear. However, there are several clues that may indicate that this H&S pattern will become invalidated. Of course, the number one clue is the ever-increasing strength of the dollar. Should it beat that 105.6 level I have drawn, I don't believe the pattern remains valid. Comment below if you disagree. Ensure to comment as to why you disagree in order that we can all learn together. Another reason I have doubted the pattern is that dip below our neckline in mid-August. On the daily, the neckline was broken. But then we quickly reversed. On the weekly chart, the break was never confirmed with a second candle opening and closing below the neckline. Therefore, I kept the pattern present on my chart and continued to monitor. But it looks as though we are now approaching decision time. And in my mind, if my level of 105.6 is absorbed and confirmed, I can safely remove the pattern from the chart and cease tracking. This would spell bad news for the market. As I have discussed many times previously, as stronger dollar generally weighs down the U.S. stock market, especially when the VIX plays along with it and increases the measurement of fear/panic. As of today, the VIX is at an all time two-year low. This sends sort of a mixed signal to traders. I like to think of it as a neutralizing factor. When the dollar is up but the VIX is moving down, generally the market tends to move sideways. So, we are relatively safe right now. However, should that fear index spike, expect a significant pullback to occur in the U.S. stock market, especially if that dollar beats my level. Stay tuned as I continue to track these scenarios. Best, Stew
TVC:DXYLong
by stewdamus
AUDUSD - Two ways one outcome! Hello traders, investors and community. Today i will take a bullish look on AUDUSD and what the chart is showing me, the absolute high probability signs for some bullish outcomes. On my chart you see the daily price action of AUDUSD. AUDUSD is just about to form a massive bottom formation with an descending triangle about to complete. I detected it and it is marked with the red trendlines, price is still remaining in the triangle. It is for sure that it will break out and form some bullish movement, the question is when it will complete. In my chart you can see that price is touching the upper trendline of the triangle, it is possible that we break out of the channel the next time otherwise price can still remain in the triangle and touch the lower trendline before it breaks out. Also AUDUSD had some good volume, (over average), in the last bull-wave which you see in the chart. There is a huge support zone at 0.64 - 0.69, that if we come back to this level there is a high probability for some good support in this area. Also you see this huge bullish dragonfly doji formed on the 3th of january, this shows how storng and important that support level is. When we break out of the triangle without coming back again! There is a target projection which you see in my chart. This target will be intact when we break out and confirm the triangle. When you see the light blue striped trendline where the target remains you can see that it is EXACTLY the point of resistance of the previous bear moves till we reached the bottom. You can see it marked with the dark blue square. If we remain in the triangle and breakout later the target will be a different price but the same length! The RSI shows me that we had some oversold condition before the two last bull moves began, it can come back to the trendline and form a bullish divergence. I am expacting this to happen either when we break out of the triangle now or when we remain in the triangle and confirm the lower trendline. This i only educational information and should not be used to take action in the markets! Peace and love to everybody!
Long
by VincePrince
8
GBP/USD Long Trade: Seizing Opportunity with Breakout and PullbaTrade Rationale: In this trade, we are eyeing a potentially lucrative opportunity on the GBP/USD currency pair. Our strategy revolves around a well-defined technical setup that combines a breakout from a key demand zone with the anticipation of a significant pullback. Entry Reasoning: The foundation of this trade lies in our analysis of the chart, where we've identified a demand zone below the current price level. Demand zones often act as strong support areas, indicating potential buying interest in the market. We are poised to enter this trade if the GBP/USD chart breaks convincingly above this demand zone. Pullback Potential: Our analysis suggests that once the breakout occurs, we can anticipate a substantial pullback in the price. This pullback offers us a favorable entry point, allowing us to enter the trade at a relatively lower price compared to the breakout point. Support Turned Resistance: Additionally, our trade strategy relies on the concept of support turning into resistance. The previous support level that we anticipate breaking will likely act as a new support level once breached, offering us a solid foundation for this long trade. Risk Management: To safeguard our trading capital, we have implemented a strict risk management plan. We are only risking 1% of our trading capital on this trade, ensuring that any potential losses remain within a manageable range. Conclusion: In summary, our GBP/USD long trade is based on a well-thought-out technical analysis that combines the breakout from a demand zone, a pullback strategy, and the support-turned-resistance principle. By adhering to our risk management strategy, we aim to maximize the potential for profit while minimizing risk exposure. As with all trading endeavors, there are inherent risks, and no trade is guaranteed to be profitable. It's essential to monitor the trade, adapt to changing market conditions if necessary, and always be prepared to cut losses according to our predetermined stop loss level. Good luck with the trade!
Long
by Ju5ke
Complex pullback in C3.AI stock!On Monday, the bulls returned to the C3.ai stock following the signing of a new contract with a significant branch of the American military.  This development sent the share price of the AI specialist rocketing more than 8% higher so far this week, outperforming the week’s 1% increase in the S&P 500 index. You can now spot a spring pattern after what Lance Beggs would describe as a complex double-swing pullback . A daily close above $32 should be the beginning of a new rally to $48.
NYSE:AILong
by almmaye
NASDAQ/QQQ Took Support at Predicted Support AreaNASDAQ 100 ( CME_MINI:NQ1! ) took Support at the area suggested in my previous Idea Post (see attached). For further confirmation we will wait to see if it holds above the 50 day EMA on Daily Time Frame. It is currently above the 50 day EMA in the Pre-market session on Tuesday. If the Confirmation is achieved today, then we will look for another rally up to the Resistance Area from where the pullback started. Possible catalyst for this rally could be NASDAQ:NVDA 's earning Tomorrow AH, or J. Powell's speech at the Jackson Hole Conference on the 25th. It is important to note that the market is still top heavy and favorable Macro environment is necessary for an uptrend.
CME_MINI:NQ1!Long
by Trading-Economist
1