EURNZD: Clear Bearish Outlook 🇪🇺🇳🇿
EURNZD has a very nice potential to drop lower.
After a consolidation within a narrow range,
the price violated a solid horizontal support cluster on a daily.
The next support that I see is 1.771
It can be the next goal for the sellers.
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Rectangle
DELL - Starting to Eat SMCI Lunch?DELL has been doing well recently.
Global PC sales are expected to be going up after years of decline. Next Gen PCs will be different to the ones we currently own as they would have AI incorporated in them.
This would be good tailwind for Dell PC business.
The area where DELL is putting most of their attention is in Data Servers. They have partnership with Nvidia and reported going numbers in orders for AI optimised servers.
At this moment, it seems like DELL is starting to eat SMCI lunch, at least in terms of relative outperformance.
We are starting to break out of this 2 month base.
Stops around 129 and I started an initial position yesterday on support of 10 EMA. Will be looking for areas to add today, would be good to come down and retest the previous high at 136.
DJT - Range bound for nowDJT has had some wild swings lately. Impressively DJT pushed deep into overbought territory on the longer duration weekly timeframe. The company is sitting on under $400K of cash and carries a debt load of nearly $6.8M!
From a technical standpoint how can we take a view of where the price might go next? With all the noise the monthly timeframe is where I think we start to get a clear view for now. It looks like price could be settling into a range, momentum cooling for a while.
Folks thinking about shorting the company may want to wait until the price gets back towards the top of the range, and consult the momentum when that happens. Otherwise, I'd be patient and let this thing settle into something recognizable.
AUDUSD - Getting Ready For BreakoutAussie wage data was not great but China flows have been helping Aussie lately.
RBA stuck with the same rhetoric.
If we get soft CPI data, expecting massive USD sell off tonight.
My target would be 0.673 over the coming days or by next week where we have the descending trendline from monthly time frame, shaded area.
AU10Y vs US10Y isn't inspiring confidence now but obviously that would change with CPI data tonight.
Stops would be lows of today around 0.662.
DJT - Meme Season is Here :DDJT has some crazy short float percentage. Currently around 193%.
Let me be clear, the fundamentals of this company are just simply bad.
This is not for the faint hearted and this idea is pure gamble and sentiment play.
Looks like we have entered meme season and election is coming up. Trump supporters might be ready to buy this hand over fist and everyone likes a good short squeeze!
GME and AMC are up like 50% in pre market and DJT is meandering around this short term rectangle.
I will be monitoring the 55 area and willing to put in a small size with stops below 50.
Dow Jones Index (US30): Bullish Price Action Ahead of The News
In 1 hour, we are expecting US PPI report.
Ahead of the release of that data, I see a bullish price action on US30.
After a test of an intraday support, the Index started quite a long correction
within a narrow horizontal range.
Its resistance was broken with a strong bullish candle,
indicating the strength of the buyers.
The market may bounce.
Goal - 39600
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DIA - 6 months RECTANGLE══════════════════════════════
Since 2014, my markets approach is to spot
trading opportunities based solely on the
development of
CLASSICAL CHART PATTERNS
🤝Let’s learn and grow together 🤝
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Hello Traders ✌
After a careful consideration I came to the conclusion that:
- it is crucial to be quick in alerting you with all the opportunities I spot and often I don't post a good pattern because I don't have the opportunity to write down a proper didactical comment;
- since my parameters to identify a Classical Pattern and its scenario are very well defined, many of my comments were and would be redundant;
- the information that I think is important is very simple and can easily be understood just by looking at charts;
For these reasons and hoping to give you a better help, I decided to write comments only when something very specific or interesting shows up, otherwise all the information is shown on the chart.
Thank you all for your support
🔎🔎🔎 ALWAYS REMEMBER
"A pattern IS NOT a Pattern until the breakout is completed. Before that moment it is just a bunch of colorful candlesticks on a chart of your watchlist"
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⚠ DISCLAIMER ⚠
The content is The Art Of Charting's personal opinion and it is posted purely for educational purpose and therefore it must not be taken as a direct or indirect investing recommendations or advices. Any action taken upon these information is at your own risk.
EURJPY: Going Up Again?! 🇪🇺🇯🇵
EURJPY leaves clear bullish clues,
after a breakout of a solid intraday resistance last week.
After the violation of the underlined structure,
the price started to consolidate within a horizontal range.
Bullish violation of the resistance of the range this morning
is an important bullish confirmation.
We can expect more growth now.
Next resistance - 186.5
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Gold - Pennant Breakout - All Time Highs IncomingGold has broken out 3 month pennant.
In my opinion, it is ready to go test all time highs now (I am super bullish).
The best part of this breakout is look at the volatility measure through GVZ.
GVZ has tested the lows and is starting to have a bounce.
Every time Gold has tried to go above 2100, GVZ has been very high but this time around it's the other way around.
Ultimate target should be 2400, if we get a bullish close above 2100.
There is a rectangle formation from 1670 to 2070 on the weekly with a false break below 1670.
Other metrics would be Gold tend to gain before rate cuts and real rates are coming down after yesterday PCE.
Stops at 2024.
Goodluck!
CADCHF: Bearish Outlook Explained 🇨🇦🇨🇭
CADCHF pair broke and closed below a solid intraday horizontal support.
After a violation, the market retested the broken structure and started to consolidate.
A bearish breakout of a support line of a consolidation range gives us a strong bearish confirmation.
It increases the probabilities that the fall will continue.
Goals: 0.6587 / 0.6567
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NEO is a ticking bomb, here is whyNeo is a ticking bomb because whales have been accumulating, which can be seen on the chart. We have a pretty long accumulation zone, and once it breaks, we can expect a Tremendeus pump. You want to buy NEO Lower, wait for a breakout, or just wait for my next analysis, and I will notify you, so make sure you follow my account. From the Elliott Wave perspective, we can see that NEO has completed the WXZXZ corrective pattern in the previous bear market. Also, the main downward-sloping trendline is broken. We have a lot of positive signs for a strong bull market on NEO. Let me know what you think about my analysis, and please hit boost and follow for more ideas. Thank you, and I wish you successful trades!
Neo’s platform allows developers to use its software to run smart contracts (known as NeoContracts) and design new programs (dapps) meant to replicate real world products and services.
NeoContracts differ from other smart contract-based protocols in that developers can build applications using a variety of popular existing languages (like C# and Java), rather than learning a new language.
Thus, NeoContract’s ability to work across various programming languages can be attractive to a larger pool of developers seeking to create dapps, or support existing ones.
Delegated Byzantine Fault Tolerant
To secure its blockchain and keep its distributed network of computers in sync, Neo employs a consensus mechanism method called delegated byzantine Fault Tolerant (dBFT).
dBFT works similarly to the delegated proof of stake (DPoS) and leverages a real-time voting system to determine which computers running the software can create the next block on the Neo blockchain. This means anyone who owns NEO can help operate the network.
Each NEO token (sometimes referred to as a Neo coin) can be locked, or “staked,” to represent a vote (the more staked NEO, the more voting power.) All owners who stake NEO then vote for the consensus nodes, who are responsible for creating blocks.
For proposing and adding new blocks to the Neo blockchain, consensus nodes receive the network’s transaction fees (paid in GAS cryptocurrency). Let me know what you think about my analysis, and please hit boost and follow for more ideas. Thank you, and I wish you successful trades!
SUN - will 10x in 2024. Buy now or wait? ReadSUN is another gold mine that can make a lot of profit in 2024! We can see that we have had a 622-day long consolidation at the bottom of the chart. It's very important for whales to accumulate their coins so they can pump them and make a lot of money. What we want to do is spot the buying activity and buy before the pump!
I am definitely bullish on this coin, and the most important question - buy now or wait for a correction? It's not always an easy task, as sometimes the chart does not make any significant pullbacks. If you want to wait, I strongly recommend buying at 0.011320. Often, patience is the key to success. But if you really believe in this coin and do not want to miss out, you can buy the coin now and potentially buy even more on a pullback!
On the chart, you can see 3 profit targets that you can use. The third profit target will be specified later in 2024, so make sure you follow me! Let me know what you think about my analysis, and please hit boost and follow for more ideas. Trading is not hard if you have a good coach! Thank you, and I wish you successful trades.
What Is SUN token (SUN)?
The SUN.io platform is TRON's first one-stop platform that supports stablecoin swap, token mining and self-governance. After the redenomination, the new SUN token, as a multifunctional governance token on the SUN platform (similar to the CRV token of Curve DAO and the EPS token of Ellipsis), will grant token holders various rights and benefits such as the voting and governance right in the community, value capture, staking rewards, etc..
Bitcoin 2025 Target + Bull market mapBitcoin is in the middle of the bull market cycle, but where exactly? It's necessary to do an Elliott Wave technical analysis to see the full map, as the market always moves in waves. We are almost at the end of the major wave (3), and in summer 2024, we are ready to make a significant corrective ABC pattern. We probably all know that summers are usually boring months with a lot of sideways price action. On the chart, you can see my price projection for the next 1 year.
As per my calculations, the bull market should end in Summer/Fall 2025 with a price of around 130,000 to 170,000 USDT. The current price is 67,000 USDT, and the bull market started at around 15,000 USDT. Of course, the most money you will make is if you buy at the start of the bull market and sell at the end of the bull market, then wait for the bear market to end and repeat this cycle. I know it's easy to say, but the reality is different. But on the other side - trading Bitcoin offers much more profit than just holding Bitcoin as the price is very volatile on a macro scale.
In one of my next analyses, I will show you why the ultimate target is 130,000 to 170,000 USDT, so make sure you follow my account and do not miss my next posts! Let me know what you think about my analysis, and please hit boost and follow for more ideas. Trading is not hard if you have a good coach! Thank you, and I wish you successful trades.