Bitcoin exhausted news ( read caption)I think Bitcoin growth potential is not yet exhausted this mean Bitcoin retest the level $59,370 or $58,890 then we think about the pullback of the Bitcoin to support level
Bitcoin Surges To New 26-Month High, ‘Whales Go Parabolic’ As Analyst Forecasts Rally Toward $59,370
Bitcoin (BTC) has experienced a surge of over 3.6% in the past week.
The gains have propelled the Bitcoin price to reach a new 26-month high of $53,360 on Monday.
Crypto analyst highlights the significant activity of the BTC whales.
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Shortsetup
"GBP/USD Analysis: Anticipating Bearish Momentum (Read Caption)1. GBP/USD Technical Analysis:
- Sell Entry: Targeting a decline from 1.26503 to 1.25890.
- Retest Anticipation: Expecting a revisit of 1.26640 before downward movement.
- Risk Management: Set stop-loss above retest level to mitigate reversal risk.
- Take Profit: Aim for 1.25890, but adapt to market conditions and price action.
2. Fundamental Analysis:
- Consider recent and upcoming US economic data releases impacting the US Dollar strength, thereby influencing GBP/USD movements.
3. Trading Strategies:
- Confirmation: Wait for confirmation of retest level acting as resistance before entering the trade.
- Risk Management: Employ suitable risk management strategies like setting stop-loss orders and managing position sizes.
- Stay Updated: Keep abreast of news and events affecting both the US and UK economies, as they can influence GBP/USD dynamics.
4. Trading Psychology:
- Exercise Patience: Wait for the optimal entry and confirmation signals.
- Emotion Control: Manage emotions like fear and greed by adhering to the trading plan.
5. Additional Analysis:
- DXY Analysis: Continuously monitor the US Dollar Index to gauge overall USD strength, offering insights into GBP/USD movements.
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AMD is no NVDA don't fall into the hype!
AMD vs. NVDA:
When looking at these two stocks it's clear that NVDA is the clear winner and will maintain its pricing power over alternatives.
NVDA's Gross margin (75.97%) is +35.57% that of AMD (40.4%).
Although AMD has a low price to sales ratio this is likely due to them having a "Walmart sales model". High volume, low margin.
This is illustrated further when looking at both companies price to cash flow ratio. Despite recent surges in NVDA stock price this has been trending lower for NVDA and higher for AMD.
Most recent price to cash flow ratios: NVDA (54.1) and AMD (188.14). This helps visualize how much investors are paying for each company to generate cash flow.
I don't know about you but I am not willing to get in at these levels and although it is very risky I'm tempted to buy some puts against AMD. Yes they have excellent management and a large economic moat, it does not compare to that of NVDA and it should not be benefiting as greatly as it has recently by NVDA's recent performance.
AMD is now approaching the top of a channel that has been strong resistance for higher moves.
It seems like everyone in the market is un NASDAQ:AMD NASDAQ:AMD NASDAQ:AMD der the impression nothing ever falls. Although it would be bold and extremely risky to buy puts on any AI stock I believe it to be the correct one.
Curious to hear others opinions.
AMD:
www.tradingview.com
NVDA:
www.tradingview.com
I Can't Believe It. I've Gone Short on Bitcoin!Traders,
True to form, though I rarely do this anymore, I’ve gone short on Bitcoin. My entry was immediate after hitting that resistance level at $60500 which I discussed in the last post.
Target will be $48,300
Stop out will be about $63,000
RRR is nearly 5/1
I am confident here so I’ve risked nearly 50% of the trading portfolio. But I will definitely be taking profits at every level (see chart above) along the way.
Best,
Stew
NVIDIA: Time for a breather 😮💨Let's take a closer look at Nvidia NASDAQ:NVDA – a stock generating a lot of buzz.
On the two-day chart, we observe a potential completion of Waves (3) and (4) between November 2021 and October 2022. As an alternative, we could see Waves (1) and (2), leading to the upcoming Wave (3). The targets are ambitious, and time will reveal the accuracy of these projections.
Following Wave (4) or alt. (2), we've formed a 1, 2, 3, and 4 pattern. Now, Wave 5 is on the horizon, and our price target is positioned at the 161.8 % fibonacci extension.
Zooming in, since our sub-wave 4 in red, we've constructed a Wave ((i)) and ((ii)) at $450. We're now in the process of building Wave ((iii)). A brief corrective move may follow before reaching the circled Wave ((iii)) at 161.8, around $662.
After we reach our targets, we'll be on the lookout for an entry point for the next big Wave 5 movement.
Dow Jones in Focus: Fake Rally?Today, we're taking a closer look at the Dow Jones Index, specifically the E-Mini Dow Jones Futures. It appears we're in Wave (2), overshooting the target and forming an Expanded Flat correction. If there's a turnaround here, typical for such waves, we might see a correction somewhere between 50% and 61.8%. We consider more than 78.6% unlikely, so we're betting on a correction in the 50 to 61.8% range.
Digging deeper, we've spotted an exciting pattern: a short Wave (i), followed by a long Wave (ii), a quick Wave (iii), and a very brief Wave (iv). This sequence could lead us to either Wave (v) or a larger B wave. Should the index continue to climb, we'll need to rethink everything. Surpassing the $40,000 mark would mean we're entering a new uptrend, requiring a different analysis. For now, we're leaning more towards a downward movement than an upward one. After much consideration, we've decided to initiate a short position on the Dow Jones as a bit of a hedge. We're particularly cautious about unexpected market movements triggered by insider trades. This strategy isn't about putting all our eggs in one basket but about spreading our risk.
In short, this strategy is our insurance policy. If the market continues to rise, any loss on the short position would be offset by gains in our long trades. Conversely, if the market declines, the short trade will help minimize our losses. This balanced approach keeps us flexible and eager to see what unfolds.
AUD/ CAD !! 29/2/2024 Trendline DOWN, SELL now⭐️ Smart investment, Strong finance
⭐️ Personal comments NOVA:
Pay attention to the long-term DECREASE trendline, set up a SELL signal
⭐️ SET UP AUD/CAD PRICE:
🔥SELL zone:0.88450 - 0.88600 SL 0.89000
TP1: 0.88100
TP2: 0.87800
TP3: 0.87500
⭐️ Technical analysis:
Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable SELL order.
⭐️ NOTE:
Note: Nova wishes traders to manage their capital well
- take the number of lots that match your capital
- Takeprofit equal to 4-6% of capital account
- Stoplose equal to 2-3% of capital account
- The winner is the one who sticks with the market the longest
Gold Analysis: Will the Critical Resistance Hold or Break Gold is following a downward trend line in the 4-hour time frame and has formed a short-term ascending channel!
Gold is currently at a very important resistance zone of 2035 - 2039. Here we have two possibilities:
1. Gold may fail to break above this resistance and continue its downward movement from this area.
2. Gold might break above this resistance with today's news and move towards 2044 - 2047, meaning the top of the descending channel, and then, with tomorrow's news, continue to hit a downward trend from this area or an even more significant resistance of 2055 - 2058.
Pay attention to the news! News events shape all trends! 📈
#DYDX #DYDXUSD #DYDXUSDT #Short #ShortSetup #Eddy #DYDX #DYDXUSD #DYDXUSDT #Short #ShortSetup #Eddy
We are in profit for more than 60% of the growth of this currency, it seems that there will be a correction from here and if the conditions and market confirm, I will enter the reverse trade from here. Please keep an eye on Bitcoin and indices including Total 2 and Tether chart. Do not enter into the transaction without obtaining the necessary approvals.
The reason for the decision for short transactions is the analysis of the market, Bitcoin and Tether charts.
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(("All the relevant areas and explanations on the chart are clear and clear, the trading setups need to get confirmation to enter, if you don't know how to get a trigger and confirm entering into transactions, this analysis is not suitable for you, the above analysis is for professionals. and if you are a beginner, my suggestion is that you don't destroy your capital and first learn technical analysis and basic trading along with psychology and risk and capital management from reputable sources and courses, and then enter the financial markets."))
(("The above analysis and setups and points and areas are combined with most of the combined styles such as price action, supply and demand, RTM, ICT and also with the analysis of important indicators such as Dominance Tether and Bitcoin.
If you are familiar with the mentioned styles and know how to get approval to enter the above styles, use the above analysis.
This is not an investment proposal and only my opinion, please act based on your experience and decisions."))
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
I also suggest you to view my #Analysis of #Bitcoin from the link below :
My #Analysis of #USDT "Tether Market Cap Dominance" from the link below :
Apple Analysis: Key Paths AheadFor Apple, two scenarios remain feasible. We continue to believe that we may have witnessed the completion of a significant cycle and anticipate a further correction downwards, expected to range between $115 and $90. Theoretically, according to traditional analysis, this correction should ideally be between $115 and $92. This bearish grand scenario would become invalid if we breach the 138% level before completing the correction.
Shifting to our bullish scenario, it suggests that what we saw in 2021 wasn't Wave (5) but rather Wave (3), followed by a Wave (4) correction and an impending Wave 5. Whether this is fully feasible remains uncertain. It's not entirely dismissible, yet it's hard to fully endorse without reservations. Therefore, we're closely monitoring the overall market sentiment to decide whether to place our limit order on the bullish short-term scenario.
Warning: Bitcoin Has Just Reached a Multi-Year Resistance LevelTraders,
I must warn my followers of the resistance level that Bitcoin is now up against. Bitcoin has been shocking the world with price action these last several months and now would seem to be fairly over-extended. Additionally, Bitcoin has a serious resistance level that it must move through if it wants to move higher.
I am normally not an overly dogmatic type of analyst. This is where I become fairly biased. I do not see Bitcoin breaking this resistance without quite a bit of accumulation preceding momentum.
When we reached resistance at 53k, I called for sideways to down price action with the potential to touch 48k before proceeding upwards. We got our sideways action for over a week but we did not get any break of support. This is when I knew the bulls were going to attempt to continue upwards. You saw me making many altcoin entries at this point and we are still winning on those trades (more to come here).
But now, we have reached new resistance and this resistance is significant. It is not something to take lightly. We started this trendline back in 2019. So, for 5 years it has acted as either support or, in this case, resistance (see below):
I have been anticipating that at some point in the future, we would simultaneously reach our mid-cycle top as well as retract/retest our 48k neckline from that larger Cup and Handle pattern I have discussed for so long. I THINK NOW IS THAT TIME. Be ready.
However, it may take days, weeks, or even months to pull back and touch 48k. I believe now is the time to prepare for doing so. I am so confident that our resistance will hold the bulls off from further upside that I may enter a big short here soon. So, watch for that.
Until then, stay tuned and I will keep you up to date on the battle of our trendline here.
Stewdamus
ASIANPAINT on verge of serious breakdownNSE:ASIANPAINT has broken down from a triangular consolidation and seem to have taken support at 200 week MA. Last time the stock touched 200 WMA was in 2009 (yes, a good long 15 years back).
If 200 WMA holds then it would save the stock but if it breaks then we might see up to 30% downside from current levels as per TA targets for the triangle and these are conservative targets.
Keep an eye this week to check what happens at the end of the week.
CKB - continue to sell shortDear My friends,
I'm always waiting for a short opportunity for CKB. And I see the opportunity has come. You look at the red line I draw between price growth and trading volume.
Also, if you open the RSI indicator to compare correlation. You can also see clear divergence.
Currently, BTC price is very beautiful. And those that have not yet increased will increase. But will those that have increased too strongly continue to increase, or will people escape to find other opportunities?
After observing and asking questions, I decided to place 2 short and tp orders as shown on the chart.
Open the trap at x3 and wait.
I still repeat that SL is never redundant, and opportunities will always appear when we have capital.
Best Regards,
CVNA - Trade setup that can yield big profits TODAY!This will be an excellent (and may I saw obvious) trade to look out for today. After a strong move post-earnings, we have already shown signs of buyer weakness at these levels.
Today we are looking for that squeeze and proof of buy side tapering at the top of our yellow and blue tapered buying continuation channels.
They line up perfectly and will be wedging with strong orange buying - which is great confluence for me along.
If buyers are unable to continue higher using orange and fail to break yellow and blue, this means... If we can't go up, __________ (Hint: we go down!).
Will take this short on proof of tapering at the top of these channels and as we see in pre-market action we will be opening up right around these levels.
Come join us in the livestream to see this trade taken in real time if it presents itself!
Happy Trading :)
BTC local topHello Birdies,
As per my chart this should mark the local top for BTC and we should visit our breakout area which is around 42360.
The Horizontal line above is the left shoulder of the double top of the BTC and its fib channel 78% too we have some level of confluence there. Let see how it gonna react.
Thanks
Using Multi-timeframe analysis to make better trading decisionsTrading on multiple timeframes can significantly improve your risk-reward ratio, regardless of what TA technique, you are using. Let’s look at the recent example (SPY ETF)
Third week of February started with a strong sell-off (Monday-Tuesday 13th). Price retraced >50% of the previous move, signaling potential trend reversal. At this point market Bears started scouting for daily low high to enter short trade. They received signal on Friday 16th when price broke previous day low.
A short trader, who trades only daily chart, would enter this trade at Friday close with stop-loss slightly above daily high and 1st profit target near Tuesday low. This setup provides a decent risk-reward ration >2. There is also a chance that previous low will be broken and price will fall even further, adding to profit. So taking this trade makes a lot of sense. On the main graph to this post you can see how it developed.
Price has not reached our profit target, reversed and made new high. Trade got stopped-out. Even if trader was using trailing stop (stop moved slightly above each new day high) this would not have saved him from huge overnight price jump
Could have the trader done better? Yes, if he had zoomed into lower timeframe and monitored price action there.
Here is what we can see on the 15m chart. (boxes show hourly candles, color coding matches hourly wave direction, you can read about how waves are constructed here )
Bearish reversal pattern shaped on Thursday- Friday. It is not an ideal triple top but there was a clear weakening of upthrust. Also, on Friday morning price broke previous day low, a sign of an increased bearish strength.
Basically, at 21.30 (UTC+1) short trader already had enough evidence to enter trade. He could have done it w/o waiting for day closure. This would have already been a better entrance than in the first scenario.
After entering the trade, trader could start monitoring for continuation. Tuesday was clearly bearish but on Wednesday there were multiple signs of shift of control. Firstly, price was able to set hourly higher low. Secondly, bearish wave was progressing very slowly. Finally, there was a 15 m equilibrium (end of Wednesday RTH) that resolved convincingly bullish. At this point a reasonable trader should have closed his trade without hesitation.
This would not be a great trade still, but it will be a profitable one, with risk-reward 1.7 . It is nearly impossible to achieve same results looking just on the daily chart.
Disclaimer
I don't give trading or investing advices, just sharing my thoughts
BANDHAN BANK: Underperforming name in banking spacestock is strong downtrend
its one of theweakmost names in banking space
with banking index trading near all time high
this stock is at 52 week lows and not just that but at 3 year lows
such stocks are ideal sell candidates fr trading and expect a heavy downmove here with a stop above 232 mark