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Bitcoin can fall little more and then rebound up in channelHello traders, I want share with you my opinion about Bitcoin. By observing the chart, we can see that the price declined to the support level, and soon turned around and started to grow. But soon turned around again and dropped lower 68000 level, breaking it, and started to trades inside range. In the range, the price fell to the bottom part and then in a short time rose to the support level, and even made a fake breakout. After this, BTC fell back to the range, and even declined to bottom par again, where it made impulse up and rose higher than the 68000 level, breaking it, thereby exiting from the range too. Next, the price continued to grow and reached the 71000 level, which coincided with the seller zone and then broke this level. Then the price rose to 73600 points, after which started to decline inside the downward channel. In the channel, the price broke the resistance level and fell to the support line, after which tried to back up, but failed and continued to fall. Recently BTC reached a support level, after which rebounded and has now grown. So, in my opinion, the price can decline a little more and then rebound up to the resistance line of the channel. That's why I set my TP at 70400 points, which coincided with this line. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
4
ADA Beautiful Range. Lower First!?Currently rejecting from the local POC. IMO it would make sense to test the untested daily level, VAL, GP below before attempting to move higher into September highs, untested monthly level and channel highs. #Cardano Calculate Your Risk/Reward so you don't lose more than 1% of your account per trade. Every day the charts provide new information. You have to adjust or get REKT. Love it or hate it, hit that thumbs up and share your thoughts below! This is not financial advice. This is for educational purposes only.
by Navitility
Breakout Watch: Trading Nikkei Futures Ahead of Its Micro Launch1. Introduction: Nikkei Futures and Current Market Setup Nikkei Futures (NIY1!) remain a cornerstone of Japan's equity market exposure for traders globally, offering insights and trading opportunities tied to the performance of Japan’s stock market. In recent days, the Nikkei Futures market has entered a phase of tight consolidation, with the trading range narrowing between 39515 and 38785. This setup presents a classic breakout opportunity, with price poised to either break above the upper boundary or fall below the bottom one. Traders should remain vigilant, as a breakout could lead to a market movement in either direction. 2. Contract Specifications: Nikkei Futures vs. Micro Nikkei Futures Nikkei Futures (NIY1!) are a valuable tool for traders seeking exposure to Japan’s economy. The contract size is tied to the Nikkei 225 index, with each tick movement having substantial financial implications for the trader. Here’s a breakdown of the key specifications: o Nikkei Futures (NIY1!): Tick Size: 5 points. Tick Value: 2,500 JPY per tick. Margin: 1,500,000 JPY (varies as market conditions change) Starting October 28, 2024, CME Group will introduce Micro Nikkei Futures, which will provide a more accessible option for retail traders by offering a smaller contract size and lower margin requirements. The Micro Nikkei contracts will allow traders to take advantage of the same market exposure with greater flexibility and reduced capital risk: o Micro Nikkei Futures: Tick Size: 5 points. Tick Value: 250 JPY per tick. Margin: 150,000 JPY (varies as market conditions change) This introduction opens up new opportunities for traders looking to manage risk more effectively or for those who prefer to trade with smaller position sizes. 3. Breakout Trade Setup for Nikkei Futures Currently, Nikkei Futures are stuck in a range-bound market, oscillating between 39515 and 38785. A potential breakout beyond these levels is potentially imminent, and traders can prepare to capture the momentum once it occurs. The key to this setup is patience: wait for the price to either break above or fall below before entering any trades. Here’s the breakout strategy we’ll be focusing on: Breakout to the Upside: Enter a buy trade if price breaks above 39515. Breakout to the Downside: Enter a sell trade if price falls below 38785. By leveraging this breakout strategy, traders can capture the volatility that usually follows a breakout from a tightly held range. 4. Breakout to the Upside: Trade Idea In the event of an upside breakout, we anticipate that the price will rally after breaking through the 39515 level. Here’s the breakdown for this trade setup: Entry: Buy at 39515, the upper boundary of the current range. Target: The target is set at 40285, where there is a significant UFO resistance and a technical resistance level. This level marks a strong area where sellers may come in, making it a logical point to exit the trade and secure profits. Stop Loss: To manage risk, place the stop loss a third of the profit zone below the entry price. In this case, the stop would be at 39258, minimizing downside exposure while allowing the trade to develop. o Risk/Reward Calculation: Profit zone: 40285 - 39515 = 770 points. Risk (1/3 of the profit zone): 770 / 3 = 257 points. Stop loss: 39515 - 257 = 39258. For standard Nikkei Futures, each point is worth 500 JPY, so: Potential profit: 770 points × 500 JPY = 385,000 JPY (approx. USD 2,580). Risk: 257 points × 500 JPY = 128,500 JPY (approx. USD 860). For the Micro Nikkei Futures, everything would be reduced x10 (approx. USD 258 and USD 86). 5. Breakout to the Downside: Trade Idea In the case of a downside breakout, we expect a decline once the 38785 level is breached. Here’s how the trade setup would work: Entry: Sell at 38785, the lower boundary of the current range. Target: Set the target at 37920, a level supported by a UFO support, a technical support, and two nested Fibonacci retracement levels (23.6% and 61.8%). Stop Loss: The stop loss is set at a third of the profit zone above the entry price. This protects against excessive losses if the market moves against the trade. The stop would be at 39073. For standard Nikkei Futures: Potential profit: 865 points × 500 JPY = 432,500 JPY (approx. USD 2,910). Risk: 288 points × 500 JPY = 144,000 JPY (approx. USD 970). For the Micro Nikkei Futures, everything would be reduced x10 (approx. USD 291 and USD 97). 6. Risk Management Effective risk management is key to long-term success in trading. In both breakout scenarios, the use of stop-loss orders ensures that traders can limit their losses if the market moves against them. Additionally, setting precise entry and exit points reduces the likelihood of emotional decision-making, allowing for more disciplined trading. The upcoming launch of Micro Nikkei Futures offers traders enhanced control over their position sizing and risk exposure. With smaller contracts, traders can engage in these setups with a fraction of the capital required for standard futures contracts. This flexibility is particularly beneficial for retail traders looking to manage risk effectively while still capitalizing on market opportunities. Whether you are a seasoned futures trader or new to the Nikkei market, these breakout setups provide a solid foundation for capturing momentum. As always, risk management should remain at the forefront of your strategy, ensuring you protect your capital while pursuing profits. When charting futures, the data provided could be delayed. Traders working with the ticker symbols discussed in this idea may prefer to use CME Group real-time data plan on TradingView: www.tradingview.com - This consideration is particularly important for shorter-term traders, whereas it may be less critical for those focused on longer-term trading strategies. General Disclaimer: The trade ideas presented herein are solely for illustrative purposes forming a part of a case study intended to demonstrate key principles in risk management within the context of the specific market scenarios discussed. These ideas are not to be interpreted as investment recommendations or financial advice. They do not endorse or promote any specific trading strategies, financial products, or services. The information provided is based on data believed to be reliable; however, its accuracy or completeness cannot be guaranteed. Trading in financial markets involves risks, including the potential loss of principal. Each individual should conduct their own research and consult with professional financial advisors before making any investment decisions. The author or publisher of this content bears no responsibility for any actions taken based on the information provided or for any resultant financial or other losses.
CME:NIY1!
by traddictiv
Gold will start to decline to support level inside wedgeHello traders, I want share with you my opinion about Euro. Looking at the chart, we can see how the price a few days ago entered to range and started to trades inside. In the range, Gold reached the support area, which coincided with the support level, and then made a correction movement to the bottom part of the range. After this, the price made a fake breakout and in a short time rose to the 2530 level and broke it, thereby exiting from the range pattern. Next, the price a little rose, after which made a small correction and then continued to move up inside the wedge. In the wedge, the price reached the current support level, which coincided with the support area and the resistance line of the wedge, after which turned around and started to fall. Gold declined to support line of the wedge and then continued to grow and soon reached the 2680 level, broke it, and made a retest. The price bounced and rose to the resistance line of the wedge, where continues to trades close to this day. So, in my opinion, Gold can little grow higher than the resistance line and then start to decline to the support level. Also, I think the price, after falling to the support level, will break it and continue to decline, therefore I set my TP at 2660 points. Please share this idea with your friends and click Boost 🚀
FOREXCOM:XAUUSDShort
by LegionQ8
1
EURUSD Scalping-Day trading LONG1st Entry - 15min POI: I decided to open three trades using the OTE reversal strategy within the 0.705 to 0.79 zone, taking advantage of the range between the swing high and swing low. Entry timeframes: 1min Emotions: Calm and confident Risk/Reward Ratio: 3.58 Lot size: 0.5 2nd Entry: Entry Price: 1.0968 Risk/Reward Ratio: 4.53 Lot size: 0.8 Emotions: Calm and confident 3rd Entry: Entry Price: 1.0967 Risk/Reward Ratio: 3.45 Lot size: 0.3 Emotions: Calm, but I entered too quickly, as the price was nearly the same as my second entry. However, I'll close this trade earlier at the STR.
Long
by Jaytradermb
Euro can rise a little and then continue to decline nextHello traders, I want share with you my opinion about Euro. Looking at the chart, we can see how the price entered to range, where at once fell to the current resistance level and then rebounded up. EUR rose to the top part of the range and then turned around and dropped to the resistance area, thereby exiting from the range. After this, the price started to grow inside the upward channel, making a fake breakout of the 1.1030 level. Inside the channel, the price rose to the 1.1175 level, after which rebounded and fell to the support line of the channel, and then it backed up. EUR even rose higher than the seller zone, reached the resistance line of the channel, and then made a correction movement, breaking the 1.1175 level again. After this, the price in a short time rose to the seller zone and then made an impulse down, thereby breaking the 1.1175 level, and exited from the upward channel. Also soon, Euro broke the 1.1030 level and now it is trying to grow. For this case, I think that the price can grow to the resistance area and then continue to decline more. That's why I set my TP at 1.0900 points. Please share this idea with your friends and click Boost 🚀
Short
by LegionQ8
3
Euro can exit from range and continue to decline nextHello traders, I want share with you my opinion about Euro. Observing the chart, we can see that the price entered to wedge and at once started to decline to the support line from the resistance line. After this, the price turned around and made a strong impulse up to the resistance line of the wedge and then at once made a correction movement. Next, EUR continued to move up and soon reached the 1.1030 support level, but at once made a correction to the support line of the wedge and then rebounded up, breaking this level. After this, in a short time, the price rose to the seller zone, where it turned around and started to decline. Euro exited from the wedge and started to trades inside range, where it fell to the buyer zone. Soon, the price turned around and rose to the 1.1180 resistance level, which coincided with the top part of the range, making a fake breakout of the 1.1030 level. Also then, the EUR tried to break the resistance level, but failed and a not long time ago dropped to the support level. Just now, the price trades very close to this level inside range. For this reason, I think the price can break the support level, thereby exiting from the range and continuing to move down. Therefore I set my TP at 1.0920 points. Please share this idea with your friends and click Boost 🚀
Short
by LegionQ8
10
CADJPY - Bearish Pressure Soon!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈 CADJPY has been hovering within a big range marked in blue. Currently, CADJPY is retesting the upper bound of the range. Moreover, the upper green trendline acts as a non-horizontal resistance. 🏹 Thus, the highlighted red circle is a strong area to look for sell setups as it is the intersection of the major high and upper trendline. 📚 As per my trading style: As #CADJPY is around the red circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
Short
by TheSignalyst
3
Bitcoin can decline a little and then start grow to 64500 levelHello traders, I want share with you my opinion about Bitcoin. Observing the chart, we can see that the price entered to range, where it at once dropped to the support level, which coincided with the buyer zone and then rebounded up. In a short time later, BTC reached a resistance level, which coincided with the seller zone, and then turned around, after which it started to decline. BTC declined to the 57000 support level, and broke it, thereby exiting from range, but soon turned around and started to grow inside the upward channel. Inside the channel, the price reached the 57000 level again, broke it, and continued to move up next. Some time later BTC reached a resistance level, which coincided with the seller zone, broke it, but quickly turned around and dropped, breaking the 64500 level and exiting from the channel also. Now, BTC continues to decline, so, I think that price can fall a little more and then start to grow to a resistance level. For this case, I set my TP at a 64500 resistance level. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
2
GBPJPY → A sideways range is forming. Emphasis on resistance...FX:GBPJPY is strengthening after forging a double bottom at 184.0. It is also favored by the JPY correction on the back of the dollar correction after the unpredictable reaction to the US interest rate cuts... The currency pair may continue its decline from the resistance zone 192-193.5. This is facilitated by a number of nuances: Japan still holds the course for further strengthening of interest rates in order to save the value of the national currency. The dollar may continue its fall after traders come to their senses after the US interest rate cuts.... Overall, this tandem can have a strong impact on the JPY strength and on the currency pair as a whole, allows to form a medium-long term strategy on the currency pair. Technically, I am waiting for a false breakdown or bounce from the mentioned resistance zone with the subsequent decline to the liquidity zone.... Resistance levels: 191.4, 193.48, 193.97 Support levels: 190.5, 186.7 BUT! If the bulls manage to consolidate above 193.97, then an upward impulse may be formed, because at the moment the environment (technical and fundamental background) is still tense... Rate, share your opinion and questions, let's discuss what's going on with ★ FX:GBPJPY ;) Regards R. Linda!
Short
by RLinda
11
Euro can make movement up and then continue to declineHello traders, I want share with you my opinion about Euro. Looking at the chart, we can see how the price some time ago entered to wedge, where it rebounded from the support line and rose to the resistance line, which is located in the support zone. After this, the price turned around from the resistance line made a correction to the support line, and then made an impulse up. Euro broke the 1.1010 level, after which it exited from the wedge and started to trades inside range. Inside range, EUR at once rose to the seller zone, but soon turned around and started to decline, making a fake breakout of the resistance level. In a short time later, the price tried to grow, but turned around and made a correction to the support level, after which made an upward impulse to the 1.1175 resistance level. Euro some time traded near this level and not a long time ago started to decline. Therefore I think that the price can make movement up and then continue to decline to the support level, which coincides with the bottom part of the range. For this case, I set my TP at 1.1010 support level. Please share this idea with your friends and click Boost 🚀
Short
by LegionQ8
10
Bitcoin can rebound from support zone and start to growHello traders, I want share with you my opinion about Bitcoin. By observing the chart, we can see that the price traded inside the range, where it at once rebounded from the buyer zone to the bottom part. After this, it turned around and rose back, and some time traded between 58000 level. Soon, the price broke this level, thereby exiting from the range and later entering the wedge, where it turned around from the resistance line and started to decline. In a short time, BTC declined to the buyer zone, where it reached the support line of the wedge. Then, the price started to grow from this line and rose from the buyer zone, but later it made a correction to the support line, after which turned around and continued to move up. Later BTC reached 62600 current support level, which coincided with the support zone and broke this level. Next, the price reached the resistance line of the wedge and then rebounded down. A not long time ago Bitcoin exited from the wedge and now trades inside the support zone. In my mind, BTC can decline to support zone and then start to move up. For this reason, I set my TP at 65500 points. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
2
Bitcoin monthly OBs hold the rangeis this the range until after the halving event? We have a monthly OB defending the low We have a monthly OB defending the mid (currently. broken up from) and we have dual monthly OBs at the high at the moment there is a high probability the halving event is a sell the news but will bitcoin ever see lower than 35k again? the arrow is not necessarily the direction im aiming however i do expect a break up from this range in the future rather than a breakdown. 35k line in the sand hold 45k and the consolidation could be even tighter upwards expansion from 60k is inevitable 2.2T mcap pullback, 10T mcap the next high - i dont make the rules ;-)
Long
by TBTS
Bitcoin can continue to decline inside range to 54800 pointsHello traders, I want share with you my opinion about Bitcoin. By observing the chart, we can see that the price some days ago entered to triangle, where it at once started to decline from the resistance line and soon fell below the 61200 level, breaking it. Then the price dropped more and broke the 53300 level, reaching the support line of the triangle, after which it turned around and started to grow. In a short time price rose to a resistance level, which coincided with the seller zone, breaking the 53300 level one more time. BTC some time traded near the resistance level and then fell to the support line of the triangle and then quickly rose to the resistance line of this pattern, breaking the resistance level. But then the price made impulse down, thereby exiting from the triangle pattern and breaking the 61200 level too. Also, BTC started to trades inside the range, where it declined to support level, which coincided with the buyer zone and at once rebounded up. A not long time ago price reached a resistance level and soon rolled down, and now it declining. So, for this case, I think that the price can rise to the resistance level and then continue to fall to almost the support level. That's why I set my TP at 54800 points. Please share this idea with your friends and click Boost 🚀
Short
by LegionQ8
6
GOLD → A possible breakouthello guys. Range-Bound Consolidation: The price has been consolidating within a well-defined range, as shown by the repeated tests of both the upper and lower boundaries (labeled 1 to 6). This range represents a period of indecision or accumulation. Engulfed Pattern & QML: The chart shows an "Engulfed" candle formation followed by a QML (Quasimodo Level), indicating a potential reversal pattern within the range. This suggests a shift in market sentiment that could precede a breakout. Potential Breakout Scenario: A possible breakout above the upper boundary of the range is highlighted. If the price action breaks above the current range resistance, a move towards the next significant level around $2,540 or higher could be anticipated. Key Levels to Watch: Upper Resistance: Around $2,530-$2,540, which has been tested multiple times. Lower Support: Around $2,480-$2,490, marked by the range's lower boundary. Key Points: Range-Bound Market: The price is currently in a consolidation phase, moving within a defined range. Potential Bullish Breakout: A breakout above the upper range is possible, with targets towards $2,540 or beyond. Critical Resistance and Support Levels: Watch for a break of resistance around $2,530 or a drop below support near $2,490. ___________________________ ✓✓✓ Always do your research. ❒❒❒ If you have any questions, you can write them in the comments below, and I will answer them. ❤︎ ❤︎ ❤︎And please don't forget to support this idea with your likes and comment
OANDA:XAUUSDLong
by melikatrader94
10
Gold will make downward movement to support levelHello traders, I want share with you my opinion about Gold. Looking at the chart, we can see how the price trades in the range, where it long time trading near the current support level, which coincided with the support area and top part of the range. After this, the price turned around and made a small movement up, after which rose back to the support area and soon started to decline to the bottom part of the range. When Gold fell to this part, it broke the 2485 level and declined a little below, thereby exiting from the range. Then the price started to an upward channel, where it broke the 2485 level one more time and in a short time rose to the resistance line of the channel and then made a correction to the support line. Next price continued to move up inside the channel and soon reached the 2525 level, after which made small correction to the support line of the channel. After this, Gold made a strong upward impulse, thereby breaking the 2525 level, and later exited from the channel. At the moment, the price continues to move up, so, in my opinion, Gold can make a downward movement to the support level. For this case, I set two TP, first at the 2550 points, and second at the 2525 level. Please share this idea with your friends and click Boost 🚀
FOREXCOM:XAUUSDShort
by LegionQ8
1
09/09/24 Weekly outlookLast weeks high: $59,829.20 Last weeks low: $52,551.34 Midpoint: $56,190.27 More sell-off last week in the crypto markets, very tough market conditions continue, hitting the $52,000 bullish OB+ again, the first time being exactly one month before. This area had held as support previously but it needs to hold this time around too, failing that $50,000 is the bottom of the daily downtrend channel. US CPI (Wednesday) & PPI (Thursday) this week, as with big news events we can potentially see volatility, this will be the last US CPI before rate cuts begin in the US, in Europe rate cuts are forecast to begin on Thursday, predicted to drop from 4.25% to 3.65% according to invesing.com, a 60bps cut. Another major news event this week is the Trump v Harris Presidential debate. I'm not expecting a whole lot of crypto talk in this debate, if I'm being completely honest I can't see it being an adult debate about political policy at all. However, I do think it will have an effect on the markets one way or another, obviously Trump is the better outcome for crypto if he stays true to his plans set out during the Bitcoin conference compared to the plans for the Harris administration to tax un-realized gains which is not very pro-investment. Again, I'm not holding my breath for any information on crypto but it is a major news event all the same. So in conclusion this week is full of news events that could create volatility, with BTC at its current level nearer the bottom of the daily trend. It does feel like we're maybe coming to an end of the chop with monetary policy pivot taking place soon.
by ProR35
Bitcoin can continue to decline inside downward channelHello traders, I want share with you my opinion about Bitcoin. Observing the chart, we can see that the price some time ago entered to the range, where it at once reached the top part, which coincided with the resistance level and then dropped. BTC fell to the bottom part of the range, which coincided with the current resistance level, and at once rebounded and started to move up. In a short time, the price reached the 61800 level, and broke it, thereby exiting from the range also. Next, the price made a small movement up, after which turned around and started to decline inside the downward channel, where BTC broke the 61800 level one more time. Later, the price declined to the support line of the channel, and at once rose to the resistance line and continued to move down. Price fell to the 56600 level and broke it, after which made a retest and continued to decline. For this case, I think that Bitcoin can make a small movement up and then continue to decline inside the downward channel. Therefore I set my TP at 51000 points. Please share this idea with your friends and click Boost 🚀
Short
by LegionQ8
7