All Time Highs on the Horizon!!!Price is on a Bullish Up trend In a Current Retracement.
This Thesis uses several different concepts. Based off of Market structure, support & resistance, RSI Divergence, Fib lvl's, ICT Concepts,
Daily: Bullish, Price is Rejecting Bullish TL and Testing structure , 61.8 prz (Daily Breaker Block forming)
H4: Bullish, Morning star R Pattern at H4 lvl
H1: Bearish (Wait for price action to return Bullish before entering)
Thesis:
Looking for price to bullish break H4 lvl to order block
and retest back to daily lvl 20595 / previous structure high zone, for bullish entry.
Notes:
price has a overall retracement 61.8 prz
Price rejecting off bullish Trend line
Price rejecting 4H FVG
H4 Hidden Bullish Divergence
Daily Bullish Breaker Block
Cons:
-4H could be a Head and shoulders Pattern if price rejects and doesn't break through Daily lvl 20595
Wait for H1 Time frame and Execution time frames to line up with macro Bullish Trend before Executing!
TP1: 21,150
TP2: 21,468 (ATH)
TP3: 22,242 Stretch Goal (ATH)
Rsi_divergence
United Spirits Ltd. (NSE: MCDOWELL-N) - Technical AnalysisKey Observations:
1️⃣ Bullish RSI Divergence:
The RSI indicates a bullish divergence, suggesting potential reversal or upside momentum.
2️⃣ Breakout from Descending Channel:
After a period of consolidation within the descending channel, the stock has broken out, supported by improving momentum.
3️⃣ Volume Profile Support:
Strong accumulation zone observed between ₹1,440-₹1,490, indicating demand at these levels.
4️⃣ Fibonacci Levels:
Resistance levels are identified at ₹1,491, ₹1,541, ₹1,591, and ₹1,634 based on Fibonacci retracements.
5️⃣ Moving Averages:
The stock is trading above key short-term moving averages, reinforcing the positive trend.
Trading Strategy:
🚀 For Long Positions:
Entry Zone: ₹1,440–₹1,460 (if price sustains above breakout level).
Targets: ₹1,491, ₹1,541, ₹1,591.
S top-Loss: ₹1,430 (below support zone).
⚠️ Risk Management:
If the stock re-enters the descending channel, it could invalidate the bullish outlook. Monitor price action and volume closely.
Outlook:
With the RSI divergence, breakout confirmation, and strong support at ₹1,440, United Spirits Ltd. presents a promising bullish setup for short- to medium-term gains. Watch for sustained volume as the price approaches resistance levels.
💬 Your Thoughts?
What’s your take on this setup? Share your views below! 🚀
The chart appears to analyze copper CFDs on a daily timeframeThe copper market is showing bearish tendencies, with price breaking below a critical symmetrical triangle pattern. Here are the key insights:
1.Technical Breakdown:
Price recently broke the lower boundary of the triangle, signaling a potential continuation of the downtrend.
Strong selling pressure is reflected by increased volume.
2.Support Levels to Watch:
Immediate support: $4.00 (psychological level near the 50% Fibonacci level).
Key support: $3.85 (61.8% Fibonacci retracement and ascending trendline).
3.RSI and Momentum:
RSI still hovers above oversold levels, leaving room for further downside.
Moving averages suggest sustained bearish momentum.
4.Risk and Opportunity:
Traders should watch for a retest of the triangle's lower boundary (~$4.20) as potential resistance before further declines.
Break below $4.00 could open doors for $3.85.
📊 What are your thoughts on copper's next move? Let me know in the comments!
Educational post BTC bullish divergence.You need to use RSI indicator. That's how I spotted the reversal.
Bullish divergence.
Bullish divergence happens when the price makes lower lows, but an indicator (like RSI or MACD) makes higher lows, suggesting weakening downward momentum and a potential upward reversal.
GME 15 min Bull Pennant Watching the 15 min on GME, and it seems that it has formed a pretty substantial Bull Pennant on the 15 min. This comes just after the Cup & Handle breakout earlier this week. We can also see that, the Ultimate RSI has Oversold, while setting a higher low withing the Pennant.
I believe that once this Pennant starts to breakout, GME is going to stretch into the 30s, and with no current supply above $29, this may very well see it's way into the $60s real quick. This is only the 15 mind you. We still have a much larger Pennant on the 4hr, another Cup & Handle on the 1 day, and a Golden Cross on the weekly. Pretty much every timeframe is showing a bullish pattern right now. If you ask me, I would say it's go time.
Remember, the last time GME broke out from a Golden Cross on the weekly, was back in July of 2020 and lasted until Jan of 2021. And we saw a 12,000 percent run over the span of 6 months.
If you're currently short, you better say a prayer. To everyone else, let the games begin! 🤙
USD/CAD Bearish CorrectionKey 4HR Resistance Coming up. Expecting up to a .010536 correction before pushing through 1.39500. Bear Divergency presenting itself on RSI. Expecting correction to take place. Will enter trade at break of rising wedge pattern. Will not think trade is gone if liquidity grab pushes price above the wedge.
PGR (Long) (Weekly Income)Asset Class: Stocks
Income Type: Weekly
Symbol: PGR
Trade Type: Long
Trends:
Short Term: Down
Long Term: Up
Set-Up Parameters:
Entry: 246.66 (Confirmation Entry)
Stop: 234.70
TP 282.53 (3:1)
Trade idea:
A price pin into a daily demand zone , Buying the breakout on the 1H TF as the price pullback and the SL at the distal line of the DZ (Conservative) . The trade setup also use the Elliot wave analysis, where the price is likely to form wave 5 next. The setup has a 3:1 RRR with a potential for 4:1. The RSI is oversold on the 4H , showing divergence, and heading up.
!!Be aware of pending Economic Reports. If price is within 20 pips of proximal value at time of major impact report, then Confirmation entry.
Trade management:
-Split the TP to 3 orders at each TP
-when price hits 1:1 , consider moving stop to entry in case of pullback. So your trade is risk free.
-After TP2 hit, you might consider canceling the TP3 and trail the SL to maximize your profit.
**Disclaimer**:
The trading strategies, ideas, and information shared are for educational and informational purposes only. They do not constitute financial advice or a recommendation to buy or sell any securities, currencies, or financial instruments. You should do your own research or consult with a licensed financial advisor before making any trading decisions. The author assumes no responsibility for any losses incurred from following these trading ideas.
Short setup on SPX (x2)After the most recent upward move, the SPX shows clear signs of weakness, suggesting a potential short setup.
Since mid-July, the SPX has been moving upward and it's now near its all-time high. However, the RSI Exhaustion at the bottom of the chart has significantly declined and hasn't recovered much, establishing a downtrend.
This divergence between the price and the RSI Exhaustion is the first major signal of a possible short configuration.
Three additional signs support this setup:
The RSI Exhaustion shows recent bullish exhaustion (indicated in green), signaling that further price increases are unlikely.
The price has formed a top just shy of its all-time high, as identified by the Bottoms Tops Signal indicator.
A major level has formed, as indicated by the Levels and Zones indicator. While this level turned into support, it originated as resistance and could well revert back to it should be price start to drop further.
Is the bull run over? Only time will tell, but for now, it's crucial to remain patient and always seek confirmation from the indicators.
Titan Company Ltd. Technical AnalysisTitan has been trading within a consolidation phase recently, suggesting that buyers and sellers are in balance. Let’s look deeper at the technical levels and indicators that might guide us in the coming sessions:
1. Support and Resistance Zones:
Key Resistance Levels: The immediate resistance sits around ₹3,452.50 and further up at ₹3,557.05. These levels could act as barriers if the stock attempts a breakout from current levels.
Key Support Levels: Titan has notable support at ₹3,233.95. A drop below this could signal further downside pressure.
2. Trendline Analysis:
A descending trendline has been in place, connecting recent lower highs. If Titan breaks above this trendline with sustained volume, it could indicate a potential bullish reversal.
Meanwhile, a smaller, rising support line (forming a wedge pattern) offers a bullish signal if the price manages to hold above it in the short term.
3. MACD Indicator:
The MACD is currently in negative territory, indicating that the stock is under some bearish momentum. However, if we see a crossover above the signal line soon, it could hint at a possible bullish shift.
3. Volume Insights:
Volume has remained relatively stable, showing no major spikes that would suggest a strong trend continuation or reversal. A rise in volume, especially near support or resistance levels, may validate any potential breakout or breakdown.
Conclusion: Titan appears to be in a consolidation phase, with the possibility of a breakout in either direction. Traders might look for confirmation at key levels, such as a break above the ₹3,452.50 resistance for bullish momentum or a fall below ₹3,233.95 support for bearish sentiment. Monitoring the MACD signal line crossover and volume trends will be crucial to anticipate the next movement.
Bharat Electronics Ltd: Key Support Zone and Potential Breakout Technical Overview
Descending Triangle Pattern:
The price action appears to be forming a descending triangle, which is typically considered a bearish continuation pattern. The triangle's resistance line is a downward-sloping trendline connecting the series of lower highs, and the support is horizontal around the 270-265 INR level.
Support and Resistance:
Immediate Resistance: The first resistance is at 289.60 INR, as indicated by the horizontal line.
Major Resistance: Above this, significant resistance exists around 312.70 INR and 340.25 INR.
Support Zone: The highlighted yellow area between 265-270 INR indicates strong support. The price has tested this zone multiple times without breaking down, suggesting that it is a key area to watch for either a bounce or a breakdown.
Moving Averages:
50-Day Moving Average: The price is currently close to the 50-day moving average. A breakout or breakdown from this average could provide a signal for further price movement.
200-Day Moving Average: The 200-day moving average is trending upwards and acts as long-term support. It's a key indicator for identifying the overall trend, which remains bullish in the long term.
RSI (Relative Strength Index):
The RSI is showing a bullish divergence. Even though the price has made a lower low, the RSI has formed a higher low, signaling a potential reversal or bounce from the current levels.
Volume:
There is a noticeable drop in volume over the recent sessions, suggesting that traders are waiting for a decisive move. If the price breaks either the support or resistance lines, a spike in volume will likely confirm the direction of the move.
Target Price:
Bullish Target: If the price breaks above the descending triangle and crosses the resistance at 289.60 INR, the next target could be 312.70 INR, with a long-term target around 340.25 INR.
Bearish Target: A breakdown below 265 INR could lead to further declines, with the next significant support level around 240 INR.
Conclusion:
The stock is currently trading near a critical support zone in a descending triangle pattern. Given the bullish divergence in the RSI, there's potential for a bounce. However, traders should wait for a breakout above the 289.60 INR level for bullish confirmation or a breakdown below 265 INR for bearish continuation.
Risk/Reward Tip: Use stop-loss strategies close to support and resistance levels to manage risk effectively, as either scenario (breakout or breakdown) can lead to significant moves.
DQ Elliott-Wave analysisDQ looking great on the 4h.
Beautiful RSI-Divergency, followed by a healty push to the upside after the bottom was formed.
Now we are experiencig a normal pullback:
Im expecting an (a-b-c)-type corrective pattern. Price find the bottom in pricerange of the blue box. (this can consume a while, so pls be patient)
#USDJPY #Elliot #Sell#USDJPY
sell-4h-elliot-clasicpattern-supplyzone_RD-
#In the 4-hour time frame, Elliott price has completed and is now falling. Our fifth wave consists of 5 micro-waves, the fifth wave of our micro-wave is formed in a short form.
#Also, in this time frame, the price has formed a classic reversal pattern and at the same time, the price has also reacted to our supply zone.
#Divergence of the indicator with the price is also a confirmation of our entry.
#SL:149.782
#TP1:146.252
#TP2:143.630
#R/R:1/7
Short setup on SPXThe SPX has experienced a significant bull run, reaching just below $5700, but is now showing clear signs of weakness, suggesting a potential short setup.
Since mid-July, the SPX has been moving sideways and is now nearly flat at its all-time high. However, the RSI Exhaustion at the bottom of the chart has significantly declined and hasn't recovered much, establishing a downtrend.
This divergence between the price and the RSI Exhaustion is the first major signal of a possible short configuration.
Three additional signs support this setup:
The RSI Exhaustion shows bullish exhaustion (indicated in green), signaling that further price increases are unlikely.
The price has formed a top at its all-time high, as identified by the Bottoms Tops Signal indicator.
A new major resistance level has recently formed, as indicated by the Levels and Zones indicator. While this level could potentially turn into support if the price breaks above it, for now, it remains a resistance, exerting downward pressure on the price.
Is the bull run over? Only time will tell, but for now, it's crucial to remain patient and always seek confirmation from the indicators.
RENDER LongRender is currently experiencing volatility as it undergoes price discovery. Despite recent fluctuations, the chart continues to align with a long-term upward trend line, indicating sustained bullish momentum. After a recent dip, Render saw a soft bounce but will require significant buying volume to challenge resistance levels. Render appears to be in a favorable position for long-term investment. A continued upward trend is expected, with potential gains likely in October.
Support - $5.16
Resistance - $5.90
RSI - Neutral
Fear & Greed Index (Binance) - Neutral 49 ( as of 10/8/2024)
ZILUSDT - Zill showing some up-side potentialZIL recently broke out of a downwards trendand is currently finding it self in a upwards channel looking to retest the bottom of the range allowing for a potential entry point. Looking at the 8-hours and 1-day RSI, ZIL touched the bottom of the range resting the RSI and now pointing upwards showing upside potential. This could possibly allow for a entry and buy opportunity.
A simple RSI Point Of ViewAnalyzing RSI Divergence in US30: Is a Bear Market or Crash on the Horizon?
The Dow Jones Industrial Average (US30) is a key indicator for global markets. Recently, a warning sign has emerged with a divergence in the Relative Strength Index (RSI) observed from July 16, 2024, to September 27, 2024. This divergence, along with high trading volume, raises concerns about a potential market shift. Analysts are comparing this situation to past financial crises, leading to questions about a possible bear market or crash.
Understanding RSI Divergence in US30
The Relative Strength Index (RSI) measures price momentum. A bearish divergence occurs when prices make a new high but the RSI does not, indicating weakening momentum. Between July and September 2024, US30 showed this divergence: prices reached a higher high, but the RSI formed a lower high, suggesting a loss of buying strength and potential price declines. Additionally, the daily chart shows a lower high in US30 price and a higher low in the RSI, reinforcing the notion of weakening upward momentum.
Is a Bear Market or Another "Black Thursday" Looming?
The current divergence in US30, along with historical comparisons, signals warning signs. However, it remains uncertain whether this will lead to a bear market (a sustained decline of 20% or more) or a major market crash. Several factors could influence the outcome:
- Macroeconomic Conditions: High inflation, rising interest rates, and geopolitical tensions may exacerbate the divergence.
- Investor Sentiment: Panic among investors could lead to increased selling and sharper declines.
- External Shocks: Global events like financial instability or political turmoil could further destabilize the market.
Conclusion and Daily Chart Analysis
The RSI divergence in US30 from July to September 2024 is a significant development that warrants attention. The daily chart reveals weakening momentum, with a lower high in price and a higher low in the RSI, indicating a higher risk of market correction or downturn. While it is uncertain whether this will lead to a bear market or crash, traders and investors should stay alert and consider adjusting their portfolios.
This is not financial advice. Always conduct your own research and consult with a financial advisor before making investment decisions.
Bearish Reversal Setup for BNBUSD - Targeting Key Support at 472Description: In this daily analysis of BNBUSD, several bearish indicators suggest a potential decline towards the $472 support level:
Bearish Divergence on RSI: The RSI is showing bearish divergence, forming lower highs while the price has formed higher highs, indicating weakening momentum and a potential trend reversal.
Resistance at $607 - $628: The price is currently facing strong resistance within the $607 - $628 range. This resistance zone has previously acted as a supply area, and the recent rejection indicates that sellers are in control.
Double Top and Descending Triangle Formation: The recent price action suggests a potential double top formation around the $620 level, coupled with a descending triangle pattern, which are both bearish signs.
Price Target at $472: If the bearish scenario plays out, we can expect the price to move towards the key support at $472, which represents a strong area of demand.
Trading Plan:
Entry: Consider a short entry if the price breaks below $593 or on a confirmed retest of the resistance zone.
Stop-Loss: Set a stop-loss above $628 to manage risk.
Target: The primary target is $472, with potential for further movement depending on market conditions.
Remember to manage your risk appropriately, as market conditions can change quickly.
Disclaimer: This analysis is for educational purposes only and should not be considered financial advice. Always conduct your own research or consult a financial advisor before making trading decisions.
Use the SMA crossover as the trigger for direction change.Use this with SPY or SPX to identify direction. When the RSI crosses below the SMA you would initiate a buy Put option or initiate a Bear Call Credit Spread. If RSI Crosses above the SMA you would initiate a buy Call option or initiate a Bull Put Credit Spread. This is not financial advice it is what I do!
SMH fails to break through resistanceSMH rallied to key resistance and failed to break through. Gapped down next trading day. Looking to make another attempt at the resistance.
SMH gapped down with volume after failing to break through
started to recover as smart money took over in later day trading
RSI is now below its SMA smoothing line
If this pattern holds trying to break through we may not see selling off with volume until we reach trend support
PLTR trades on the high end of its rangePLTR shows the recent rally could be reversing soon
Currently trades high within its range
If stock breaks above its upward trend that would be a great time to get out
Volume consistently decreases as price increases, this create disagreement in the trend
RSI also shows divergence by declining as the price increases
We should expect PLTR to sell back down to lower point staying within its trading range to the low $30 range.