GBPAUD Buy IdeaOANDA:GBPAUD has formed bullish divergence on RSI and broken the last Lower High indicating the potential for bullish move. Currently, It's retracing back to fib 50-75% level where we can look for long setup.
Rsidivergence
USDJPY Analysis: Bullish Flag Pattern PotentialTrade Strategy: Bullish Flag Pattern
Key Levels:
- Shorting Opportunity: 153.26
- Buying Opportunity: 152.84
Analysis:
- Importance: Identifies a potential Bullish Flag Pattern setup
- Technical Analysis: Signals a possible continuation of the bullish trend
- Fundamental Analysis: Supports the bullish bias for USDJPY
Trade Plan:
- Shorting Opportunity: Consider shorting at 153.26 with candlestick pattern confirmation and RSI Divergence
- Buying Opportunity: Look for buy entries near 152.84, targeting beyond the resistance line at 153.26
Insights:
The USDJPY chart shows signs of a Bullish Flag Pattern formation, indicating a potential bullish continuation. Traders can watch for opportunities to short or buy based on the identified key levels.
📈📉 Keep an eye on USDJPY for trading opportunities based on the Bullish Flag Pattern setup!
US30 Sell IdeaCAPITALCOM:US30 has broken the last Higher Low after forming bearish divergence on RSI indicating potential bearish move. Moreover, It has also broken bullish trendline by forming new Lower Low. We can look for sells between fib 50-75% levels.
Copper RSI Divergence Threatens Bullish BiasTechnicals
Prices hit fifteen-month highs this week, extending the recent rally. Copper is on the verge of another breakout, eyeing the January 2023 highs (4.356), which could open the door for further gain towards 4.579.
On the other hand, the Relative Strength Index (RSI) did not follow the price action and diverged lower on the H4 chart. This can lead to pullback, but the downside appears well-protected, starting with the EMA200 (at around 4.020). Daily closes below it are needed for the bullish momentum to pause, but that need strong catalyst.
Fundamentals
The improved supply-demand dynamics have fueled the rally and favor further upside. Optimism around China from recent data boost demand prospects midst the supportive green energy transition and the rebound of the chip industry that is largely fueled by the AI revolution. At the same time major mining companies have slashed their 2024 output outlook.
However, China’s recovery is bumpy and the critical property sector remains in distress. The US economy is performing very well, but along with sticky inflation and robust labor market, there is risk for fewer Fed rate cate cuts that could create headwinds.
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Past Performance is not an indicator of future results.
USDJPY Analysis: Bearish Fib-3 Bat Retest Analysis:
- Trading Setup: Bearish Fib-3 Bat Retest
- Entry Zone: Identified at Bearish Bat Retest or Key Resistance Zone
- Signal Confirmation: Supported by RSI Divergence
- Trading Expectation: Expect potential stop-outs on lower time frames
Trade Plan:
- Short Opportunity: Aggressive traders may consider shorting USDJPY at the identified retest zone
- Risk Management: Plan trades in advance and adhere to rules that invalidate the setup
Your Thoughts?
Are you considering a short position on USDJPY? Share your insights and trade plans in the comments below!
📉 Remember to trade responsibly and manage your risks effectively! Trading involves inherent risks and requires careful analysis.
APTUSDTHi guys
It seems that the two price areas that we have identified are very low risk for buying.
According to the issued divergences, the possibility of a downward trend should be considered.
Interestingly, this cryptocurrency does not have any resistance range after the price area of $20.4!
What do you think?
USDJPY Analysis: Shorting Opportunity Ahead- Timeframe: Weekly chart shows RSI Divergence
- Trade Bias: Shorting opportunities favored
Analysis:
- Weekly Chart: RSI Divergence signals potential reversal
- 4-Hourly Chart: Waiting for retest of previous resistance at 151.74 for short entry
- Combo Trade Strategy: Stretching targets for lower risk and higher returns
Combo Trade Strategy Explained:
- Definition: Trade management system to extend targets for enhanced risk-reward ratio
- Benefits: Lower risk exposure, higher potential returns
Trade Plan:
- Shorting opportunities identified on USDJPY
- Entry upon retest of 151.74 resistance level on 4-hourly chart
- Utilize combo trade strategy for optimized risk management and profitability
Additional Insights:
- Trading strategy not limited to shorting USDJPY; open to opportunities aligning with trading strategy
- Flexibility in trading approach across multiple currency pairs
Final Thoughts:
- Market dynamics are not constrained by directional movements of specific currency pairs
- Focus on trading opportunities presented by price action and technical indicators
- Adaptability and versatility are key to successful trading in dynamic market conditions
💡 Your Thoughts?
What are your views on the potential shorting opportunity on USDJPY? Share your insights and trading strategies in the comments below!
👍 Like if you appreciate this analysis! Remember, always conduct your own analysis and manage risk responsibly. Trading involves risks.
Unveiling the Power of RSI's Hidden Bullish Divergence.Greetings, friends and speculators.
Let's take a moment to examine the Crypto King's relationship with the 2-month RSI indicator.
The RSI has proven itself as a powerful tool, accurately identifying the exact bottom on three separate occasions.
During the bear market lows of 2015, 2018, and 2022, a hidden bullish divergence emerged, signaling the conclusion of the downtrend and the initiation of a new "Mark Up" Phase.
Interestingly, there has been an approximately 20% increase in the duration between these hidden bullish divergences. If we extrapolate this trend to the current period, we might anticipate a market bottom around July 2027.
However, approach this prediction with caution, past performance does not guarantee future returns.
To confirm a valid Hidden Bullish Divergence, the bulls need to maintain the price above the 2022 lows while ensuring that the RSI makes a lower low.
Apart from indicating market bottoms, the RSI indicator also aids in pinpointing optimal exit points. Notably, RSI levels surpassing 90 historically denoted the conclusion of the bull run.
With the current RSI hovering around the 70 mark, it suggests that the bulls still possess plenty of ammunition as they advance further.
I should note that RSI has made a lower high during the last 2 market tops, one could assume that a lower high in this bull frenzy would fail to penetrate the 90+ level.
If you recall my BTC post from September 2021, I advised bulls to start dollar-cost averaging into positions. At that time, BTC was experiencing an "Accumulation" phase, and it's clear that we've transitioned into a "MarkUp" phase now.
As we approach the final Bitcoin halving, there is no doubt that an interesting time is upon us.
To all those who weathered the brutal bear market, I salute you.
Much Love & Good Luck!
SPECUALTIVE SETUP, DYOR + DD.
What is Hidden Bullish Divergence?
A hidden bullish divergence is a setup where the oscillator forms lower lows at the same time that the price is forming higher lows. This setup is frequently seen in situations where the price has been in consolidation or has performed a pullback from an uptrend.
What is RSI?
The Relative Strength Index, or RSI for short, is one of the most popular technical indicators among the trading community. It belongs to the family of oscillators, or technical tools used to determine overbought or oversold conditions. It’s used to gauge the market sentiment.
Developed by J. Welles Wilder, the RSI measures the speed and change of price movements.
A popular way of reading RSI values is to look for divergences that occur when a new high or a new low of the price isn’t confirmed by the RSI readings.
displays on a vertical range of 0 to 100.
Readings close to 0 are viewed as “oversold”, while those closer to 100 are a sign of “overbought” market conditions. Unlike some other momentum indicators, readings can’t go below 0 or higher than 100.
Microvast DCA opportunity emergingFor NASDAQ:MVST , wait till a day after the quarterly results are out (01 Apr 24). If the price is heading down from that date and the resistance level, then wait until either the RSI is at 30 or the price reaches $0.55. And then start DCA for a long term hold.
If after the quarterly results the price starts a flag pattern, see the trend of the RSI and start the DCA if it reaches 30 if the RSI trend is downwards. Otherwise, if the RSI trend is also sideways, begin DCA.
If after the quarterly results the price breaks through the resistance then start DCA then. Depending on the candlestick patter might be best to wait 3 days to see if the price falls but then if the pattern and volume is strong then the move might be a large one and best to start DCA immediately.
Tilray approaching a swing trade and/or shorting opportunityNASDAQ:TLRY is approaching a resistance range and is at the top of a W pattern. It's rsi is also overbought above the 70 level. Volume is also trending upwards and has reached the level where the previous volume high (and price trend reversal) was.
The trading opportunity is around the 3 scenarios shown in the chart, with, due to the technical indicators mentioned above, scenario 2 and then 3 being the most likely.
Trading approach would be to wait until after the quarterly earnings are released and see if:
Scenario 1
The price breaks above the resitance range, apply a 3 day filter to ensure it's not a fakeout, and swing trade upwards to approx. $3.
Scenario 2
A more likely scenario, the price starts to decline and enter then enter into a short with a take profit at $1.60. Exact entry point for the trade might be difficult to determine, especially as the previous moves in price have been so explosive that there may not be an optimum tim eto enter, thus shorting would be a higher risk trade.
Scenario 3
Wait until the price reaches the support level since November 2023 (approx. $1.6) and enter a swing trade back up to the resistance range with an exit at approx. $2.5. To reduce risk, enter the swing with a combination of the RSI being at 30 and/or a 3 day filter to reduce the risk of the price breaking down from $1.6 to a new low.
Scenario 3.5
Same as scenario 3 but with the support level being around the DMAs and price range where the price movement faced some resistance on it's way up during mid-March 2024. A more likely scenario, the price starts to decline and enter then enter into a short with a take profit at $1.60. Exact entry point for the trade might be difficult to determine, especially as the previous moves in price have been so explosive that there may not be an optimum time to enter, thus shorting would be a higher risk trade.
NOTE:
Those with a risk appetite large enough may use the technical indicators mentioned in the first paragraph as enough of a comfirmation to enter a risky short trade:
Entry point: Now ($2.45)
Stop Loss: $2.70
Take Profit: $1.60
Risk:Reward ratio: 1:3
SMR approaching DCA opprtunityNYSE:SMR is approaching a potential entry point for the start of a DCA strategy for a long term hold.
SUMMARY
Wait to see where the price moves. Using a combination of RSI reaching 30 and the price falling to (with a 3 day filter) around $4 or if the price continues to fall then around $2 (another 3 day filter at this level too), begin entry with a DCA strategy. Alternatively, if the price rises above $6, after a 3 day filter, begin DCA. If the price starts forming a flag between $5 and $5.80, enter once RSI has reached 30 (for those with a higher risk appetite can just use the RSI as an indicator) or await a range breakout/down to either enter at the $4 or $2 or $6 level as described above with or without a three day filter.
The price was seeing exponential growth in the leadup to the latest quarterly earnings report and popped a few days after. However, the price has subsequently fallen back down and now seems to be forming a pattern.
It is unknown really what caused the price to jump. And there has not been any significant insider trading on the day (or lead up to the day) where the price recently peaked.
The company itself has a healthy balance sheet and debt/equity ratio. It is still in the growth phase as they build somewhat emerging tech (nuclear power is established but their approach to providing customers modular smaller power stations is unique) and a large part of their customer base is still a maturing market (power hungry data centres wanting their own onsite nuclear power source, particularly those now being setup for providing AI). The company's income statement reflects this as net income over the recent years remains negative and is also not showing an upwards trajectory.
With this in mind this would be a stock for a long term hold with a DCA investment strategy until, whichever comes first, either a total dollar figure invested is reached or the company becomes long term profitable (i.e. exits the growth phase).
With the recent price fluctuations it is crucial to not enter too early as due to the immature nature of the industry and company, the price also has a high likelihood of remaining at a low level for quite some time. However, a DCA entry opportunity is also forming based on one of the 3 of the more likely price trend scenarios described in the chart. Details on these are as follows.
Scenarios 1 and 2:
Wait to see which way the price begins to move and see if it falls to one of the two support levels identified, make use of the RSI to identify the optimum entry point. If the price falls to $4, add in a 3 day filter to see if the price doesn't fall further and likewise add in a 3 day filter if the price continues to fall from $4 to $2. If the RSI has reached 30, and the 3 day filter has shown that $4 or $2 were a support level begin DCA. If the price continues to fall below 2, halt the DCA to see where the price becomes stable and then restart once the RSI starts trending upwards again.
Scenario 3:
If the price begins ranging between $5.30 and $5.80, depending on risk appetite, begin DCA once the RSI reaches 30 or starts trending upwards. If the price breaks out above $6, then add in a 3 day filter to ensure the breakout wasn't a false dawn, and start the DCA investment independent of where the RSI is.
BTCUSDTHi guys
For Bitcoin, if the short-term uptrend line remains intact, the possibility of a continuation of the uptrend is strengthened.
Due to the issued negative divergence and price compression in the upward trend, the weight of a downward-corrective trend is currently high.
What do you think?
COIN - Turning Around (shake out complete)Saw COIN looking toppy and it played out perfectly- the crypto rally isn’t over yet though and COIN is one of the better proxy plays for capturing the bullish price action we’re in crypto. Short off the top layer off nicely but the RSI is indicating that crypto nor COIN upside is done. The bullish divergence seen in the RSI should provide some decent upside at least in the short term.
OM - SHORT opportunity | RSI Divergence#OM/USDT #Analysis
Description
---------------------------------------------------------------
+ I'm seeing clear RSI divergence pointing towards bearish price trend for the OM/USDT
+ Also the chart looks like the price has reached double top pattern which is a bearish pattern.
+ Overall there is a short trade opportunity if we trade carefully.
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VectorAlgo Trade Details
------------------------------
Entry Price: 0.3056
Stop Loss: 0.3802
------------------------------
Target 1: 0.26770
Target 2: 0.24950
Target 3: 0.22281
Target 4: 0.17431
------------------------------
Timeframe: 1D
Capital: 1-2% of trading capital
Leverage: 5x
---------------------------------------------------------------
Enhance, Trade, Grow
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Feel free to share your thoughts and insights.
Don't forget to like and follow us for more trading ideas and discussions.
Best Regards,
VectorAlgo
Long on GBPUSDThis week, I'm feeling bullish on GBPUSD, and here's why:
1. Weaker Bullish Trend on Daily Chart: Although the bullish trend on the daily chart is weaker, the recent violation of previous resistance suggests potential upward momentum.
2. RSI Divergence on 1-hourly Chart: The presence of RSI Divergence on the 1-hourly chart indicates a possible reversal or continuation of the bullish trend.
Given these factors, I'm patiently waiting for a buying opportunity at 1.2730, where I'll enter a long position on GBPUSD.
What are your thoughts on GBPUSD this week? Share your trade plans and insights below!
Wishing everyone profitable trades ahead!
Happy Trading!
Long on EURJPY with CautionThis week, I'm taking a long position on EURJPY based on the 4-hourly chart. While some may see it as a Bullish Gartley pattern with a warning sign, others may interpret it differently, perhaps as a Bullish Gartley on PEZ or a key support level.
My Trade Plan on EURJPY
1. Long position initiated based on the 4-hourly chart.
2. Watching closely for any violation of 161.23, which could prompt a reevaluation.
3. Awaiting the market to hit the first target.
Share your thoughts and trade plans for EURJPY. How are you interpreting the pattern?
Let's continue the discussion!
Next Nears All-Time High: Key Levels to WatchThe cryptocurrency Next is on the verge of breaking its all-time high (ATH) of $0.41390 on the weekly chart. If the price breaks above this resistance level, it could signal further gains for the token. However, if the price fails to break through this level, it could find support at $0.34618, the next key level is $0.31143.
Technical Analysis:
Resistance: $0.41390
Support: $0.34618
Relative Strength Index (RSI): 65
Moving Average Convergence Divergence (MACD): Bullish
Volume Analysis:
The volume of Next has been increasing steadily over the past few weeks, which is a bullish sign. This suggests that there is strong buying pressure behind the token.
Price Consolidation:
The price is currently in a small consolidation range. However, since the overall trend is bullish, there is a good chance that the price will break out of this range and continue its upward movement. The next support level is at $0.31143.
RSI Divergence:
There is a bullish divergence between the price and the RSI indicator. The price has made a new high, but the RSI has not. This suggests that the upward momentum is still strong and that the price is likely to continue to rise.
Conclusion:
The technical indicators for Next are bullish, suggesting that the price could continue to rise in the near future.
The information provided in this article is not intended as financial advice. Please do your own research before making any investment decisions.
RSI Divergence and Bearish Shark Pattern Combo TradeToday, let's delve into an intriguing setup on GBPJPY that combines a Weekly Chart RSI Divergence with a 1-hourly Bearish Shark Pattern:
1. Weekly Chart RSI Divergence:
- Observe the RSI Divergence on the Weekly Chart, signaling a potential weakening of the bullish trend.
- This divergence might serve as a precursor to a reversal or retracement.
2. 1-hourly Bearish Shark Pattern at 190.72:
- Look for a shorting opportunity as the Bearish Shark Pattern completes at 190.72 on the 1-hourly chart.
- Engaging in a short position aligns with the potential bearish sentiment suggested by the RSI Divergence.
This combo trade approach involves using higher timeframes for trend analysis (Weekly RSI Divergence) and pinpointing a precise entry with a harmonic pattern on a lower timeframe (1-hourly Bearish Shark).
Feel free to share your thoughts and trade plans for GBPJPY in the comments below. For a visual representation, refer to the chart link provided.
AUDNZD Short idea - Diviregence 1H Time frameAfter a good bullish rally for AUDNZD, the pair reached the horizontal resistance zone combined there with a supply zone. From the perspective of RSI there is bear divergence on 1H time frame. It is a bit risky to enter in a sell position right now, but if we have a good candlestick confirmation it would be great. However, the stoploss could be outside the supply zone. The line for takeprofit 2 is the zone which I aim to close eventual position
GRTUSDT SHORT POSITIONThe price has successfully completed a three-drive pattern, and concurrently, there is a noticeable formation of a rising wedge pattern and I shouldn't forget to mention that the strength of each new upward wave has weakened compared to its previous wave. Additionally, the confirmation of a bearish movement is evident through the observed RSI divergence.
please follow and support for more
TQQQ Technical Analysis - Breakout and Key LevelsTechnical Breakout:
On November 13, 2023, NASDAQ:TQQQ experienced a significant structural shift with the breach of the $40 resistance level. The subsequent bull run in the tech sector propelled NASDAQ:TQQQ to a peak of $61.22 on February 12, 2024.
Fibonacci Retracement:
After reaching the peak of $61.22 on February 12, 2024, NASDAQ:TQQQ made an attempt to pull back, targeting the 0.618 Fibonacci level at $53.18. However, the retracement was not sustained, and NASDAQ:TQQQ returned to the previous high of $61.22 on February 23rd.
Current Situation:
As we await the market open on Monday, NASDAQ:TQQQ stands at a crucial juncture following the recent retest of $61.22.
RSI Divergence:
Since January 24th, we've observed RSI divergence, indicating a discrepancy between the price action and the strength of the trend. This could be a crucial signal, suggesting a potential shift in momentum that traders should closely monitor.
Upcoming Events :
This week brings important economic indicators:
Monday: Japan Inflation Rate
Tuesday: GfK Consumer Confidence and USA Durable Goods Orders
Wednesday: USA GDP
Thursday: USA PCE and Personal Spending
Friday: ISM Manufacturing
Market Expectations:
Anticipations are focused on the USA GDP, expected to perform worse than forecasted . This could influence market sentiment and potentially impact NASDAQ:TQQQ 's performance.
Forecast:
Given the current technical setup, RSI divergence and the upcoming economic events, there is a likelihood that NASDAQ:TQQQ could move towards the 0.5 Fibonacci level of $50.69 by Friday, March 1st. Traders should closely monitor developments and be prepared for potential volatility.
Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. Traders should conduct their own research and consider risk factors before making any investment decisions.
MATICUSDTHi guys
I consider the above scenario valid only under the condition of maintaining the support range of $0.6884.
Be careful, we have network upgrade for February 6.
What do you think?
ADAUSDTAm I the only one who finds it attractive?
Or do you think it's attractive too!!?
My opinion for the rise is strengthened only by the consumption of the $0.5402 resistance range.
The $0.4745 range is low risk. But we have to see if the resistance range will be broken first
what do you think!?
