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Sidewaysmovement

USD/JPY moves upward towards 149.00Hello dear friends, Currently, USDJPY is continuing to strengthen its price levels after several days of sideways trading within a narrow range of 149.42 - 148.32. However, in the long-term perspective, USDJPY may still continue to rise as this currency pair is receiving recovery due to the positive risk sentiment amid the conflict in the Middle East. The resistance level at 150.00 is still considered a high target for the upcoming price increase. Breaking above the 150.00 level will pave the way for further development in USDJPY towards higher levels.
by Karina_Bella
10
Shopify Macro Pattern Bullish Until Proven OtherwiseHi Guys! This is a Macro Technical Analysis on Shopify (SHOP) on the 1 Week Timeframe. Its to add to my previous analysis while keeping it brief and concise. Recently we Broke through and confirmed BELOW both the Uptrend Channel and the 21 EMA. Normally this spells TROUBLE, especially if we confirm BELOW 21 EMA, as this moving average normally holds SUPPORT through BULLTRENDS. Even more so that the MACD has crossed BEARISH as well. However digging deeper, its seen that the channel and 21 EMA break was followed by DECLINING VOLUME. Normally, for Trend Reversals and for the direction of a trend to actually go that way you need a spike in VOLUME. (Watch VOLUME in the coming weeks. Can give us hints to what will come next.) Comparing our current move to previous moves, look to "Similar Pattern". It may be probable that we just move side ways before continuing our UPTREND. Notice how to the T, our current move follows the previous example. The 21 EMA is also flattening out, indicating this sideways movement. Another likely scenario, if volume picks up can be a test of the 50 SMA (Green moving average). BUT provided this Weeks candle closes ABOVE we are testing support. So if we can stay ABOVE this, 50 SMA is less Probable. So pay attention to this weeks candle close and for CONFIRMATION. Also NOTE we have had a BULLISH CROSS of the 21 EMA above the 50 SMA. Along with how previous history BUllish move played out. This makes me think we are in the Early phases of a BULL run in Shopify. This is NOT a DEFINITE, Sure thing but we may be mirroring the "Similar Pattern". But always remember that things that happened before does not have to happen again. I think other than Volume, another MAJOR thing to watch is the MACD. Particularly, the main focus should be staying ABOVE the 0 level. Going BELOW 0 level, may indicate further price DECLINES. So watch how the Histogram bars shape up, we want smaller RED bars that change to a lighter RED color. Eventually would like to see GREEN bars in the coming weeks. That would give confidence that BULLISH momentum is coming back to Shopify. Take a look at how the MACD shaped up during the "Similar Pattern". If we stay ABOVE 0 level, all is good. Keep that in the back of the mind as you follow the MACD. RSI also gives some clues. The area between the RED & BLACK Horizontal lines, coincides with being BELOW 21 EMA. If we are below the RED line, normally its a good area to add to your position during a BULL run. The warning sign is if the RSI drops towards and BELOW the BLACK line, that would lead to further PRICE Declines. Using both the MACD and RSI in combination will help remove false signals. If you see that the histograms are turning light red, to light green and the RSI curved back up towards and ideally above RED line. This would likely push Price back ABOVE 21 EMA, and continue our BULL Run. I think this week, its important to stay ABOVE the SUPPORT line. Staying above may bring in more confidence. __________________________________________________________________________________ Thank you for taking the time to read my analysis. Hope it helped keep you informed. Please do support my ideas by boosting, following me and commenting. Thanks again. Stay tuned for more updates on SHOP in the near future. If you have any questions, do reach out. Thank you again. DISCLAIMER: This is not financial advice, i am not a financial advisor. The thoughts expressed in the posts are my opinion and for educational purposes. Do not use my ideas for the basis of your trading strategy, make sure to work out your own strategy and when trading always spend majority of your time on risk management strategy.
NYSE:SHOPLong
by SafofAllTrades
Bulls and Bears in the SpotEver wondered about the intricate tango between bulls and bears in the trading world? 🕺💃 Let's take a peek at the Euro-dollar's current moves on the weekly chart. While the bullish trend has held its ground, recent weeks have seen the bears making their mark. But, there's a key level – 1.0637 – that holds the secret to shifting the scene. A break below this level could paint a different picture, turning a stronger bull into a weaker one. Zooming into the daily chart, it's clear that the market is in a delicate balance. A breach below 1.0637 could mark the transition from bullish to bearish. But it's not just black and white – both the four-hour and one-hour charts show their own stories of bearish movement. 📉📊 In this thrilling scenario, we have two trader groups with differing opinions. This is where the magic happens. Both buyers and sellers can potentially rake in profits, timing their entries and exits just right. Aggressive traders might pounce on a shorting opportunity with higher timeframe confirmation, while the conservative ones seek more clues before engaging. Ready to dive into this intriguing trading universe? Now, let's return to our weekly chart adventure. The trend line might have been crossed, but the true test lies in 1.0637. For those braving the bearish waters, a retest at the trend line could be your golden ticket. 🎫🐻 But hey, you can always set your trend line alerts, adapting to your strategy. If buying is your game, keep an eye on 1.0737 for a possible retest opportunity. On the four-hour chart, our aggressive traders spot a chance in the retest of the trend line. Stay within those lines, and the shorting opportunity might be just around the corner. And for the one-hour chart enthusiasts, the red and blue lines reveal a potential 40 pips journey. Got more to discuss? Want to crack the code of profitable trading in just 15 minutes a day? 🕰️
by RaynLim
CAD/CHF in Sideways Channel - Potential Trade Setups!📈 Forex Trading Analysis 📉 CAD/CHF in Sideways Channel - Potential Trade Setups! #Forex #CADCHF #TradingOpportunity #SidewaysMarket #TechnicalAnalysis Hey traders! 👋 Today, I want to share an exciting opportunity in the CAD/CHF currency pair. The 1-hour chart indicates that the market is currently moving sideways, which presents an excellent chance for us to capitalize on potential price reversals within this range. 📉 Trade Plan 1: SELL STOP 📉 Entry (EP): 0.65375 (Below S2) Stop Loss (SL): 0.65710 (Above S1) Take Profit (TP): 0.65040 (1:1 Risk-Reward Ratio) Trade Plan 1 aims to take advantage of the resistance level (S2) as our entry point. We'll set our Stop Loss just above the first support level (S1) to manage risk effectively. The Take Profit is set at a 1:1 Risk-Reward Ratio, targeting potential price movements to the downside. 📈 Trade Plan 2: BUY STOP 📈 Entry (EP): 0.66474 (Above R2) Stop Loss (SL): 0.66151 (Below R1) Take Profit (TP): 0.66800 (1:1 Risk-Reward Ratio) Trade Plan 2 leverages the support level (R2) for a possible price reversal to the upside. The Stop Loss will be placed below the first resistance level (R1) to protect against adverse movements. The Take Profit is set at a 1:1 Risk-Reward Ratio, aiming for a balanced and strategic exit. 📊 Technical Analysis: CAD/CHF is currently trading within a sideways channel, indicating a lack of a clear bearish or bullish trend. This scenario suggests potential reversals at key support and resistance levels, making Trade Plan 1 and Trade Plan 2 compelling setups to consider. 💡 Investment Advice: Remember, trading always carries risks, and it's crucial to manage your positions responsibly. Use appropriate position sizes and set stop losses to protect your capital. Additionally, consider diversifying your portfolio to reduce exposure to a single trade. As always, ensure you have a well-defined trading strategy and risk management plan before executing any trades. Stay disciplined and avoid letting emotions dictate your decisions. 🚀 Happy trading and may the pips be with you! 📈💰 Disclaimer: This post is for educational and informational purposes only. Trading the financial markets involves risk, and past performance is not indicative of future results. Make sure to do your own analysis before making any investment decisions. #InvestResponsibly #ForexTrading #TechnicalAnalysis101
by T-Q
ETHUSDT Sideways Trading Strategy📊 #ETHUSDT Sideways Trading Strategy 📉 #CryptoGeeks #TradingView #TechnicalAnalysis #SidewaysMarket Greetings, fellow crypto geeks! 🤓 Today, I've got an exhilarating trading opportunity for you in the ETHUSDT cryptocurrency pair. On the 1-hour chart, we've detected a mesmerizing sideways market with no distinct bear or bullish trend. To leverage this situation, I've meticulously crafted two trade plans employing buy stop and sell stop orders, expertly synced with key support and resistance levels. 📉 Trade Plan 1 - Sell Stop 📉 💱 Entry: 1842.80 🛡️ Stop Loss: 1855.21 💱 Take Profit: 1:1 at 1830.39 In this plan, we'll tap into the potential downside movement within the sideways range. Our sell stop entry at 1842.80 indicates a bearish continuation, bolstered by the safeguarding stop loss at 1855.21. We've set a compelling take profit target at 1830.39, boasting a balanced risk-to-reward ratio. 📈 Trade Plan 2 - Buy Stop 📈 💱 Entry: 1905.47 🛡️ Stop Loss: 1887.90 💱 Take Profit: 1:1 at 1923.04 In this plan, we're aiming to ride the potential upward wave. Our buy stop entry at 1905.47 signals a bullish breakout, fortified by the risk-managed stop loss at 1887.90. Brace yourselves for the exhilarating take profit target at 1923.04, offering an alluring reward-to-risk ratio. Remember, navigating a sideways market demands precision and caution. Implement sound risk management strategies and only invest what your neural circuits can handle. May the crypto force be with you! 🚀 Happy trading, fellow geeks! 📈💹
by T-Q
DOTUSDT Sideways Trading Strategy! 🚀 DOTUSDT Sideways Trading Strategy! 📉 #DOTUSDT #Cryptocurrency #TradingStrategy #TechnicalAnalysis #SidewaysMarket Greetings, fellow traders! 🌟 Today, I have an exciting trading opportunity in the DOTUSDT cryptocurrency pair. The 1-hour chart reveals a sideways market, lacking a clear bearish or bullish trend. To capitalize on this situation, I have devised two trade plans utilizing buy stop and sell stop orders, strategically aligned with key support and resistance levels. 📉 Trade Plan 1 - Sell Stop 📉 🎯 Entry: At S2, 5.100 🛡️ Stop Loss: Above S1, 5.160 🎯 Take Profit: 1:1 at 5.040 In this plan, we aim to profit from potential downside movement within the current sideways range. The entry at S2 suggests a bearish continuation, while the stop loss placed above S1 provides a safeguard in case of any price reversals. The take profit target of 5.040 offers a balanced reward-to-risk ratio. 📈 Trade Plan 2 - Buy Stop 📈 🎯 Entry: At R2, 5.336 🛡️ Stop Loss: Below R1, 5.273 🎯 Take Profit: 1:1 at 5.399 With this plan, we seek to benefit from potential upward momentum. The entry above R2 indicates a bullish breakout, and the stop loss positioned below R1 helps manage risk effectively. The take profit target at 5.399 ensures a 1:1 risk-to-reward ratio, aiming for a feasible profit within the range. As a responsible analyst, I must emphasize the importance of risk management in your trading endeavors. Trading sideways markets can be challenging, so it's crucial to use appropriate position sizing and not invest more than you can afford to lose. Best of luck! 🍀 Happy trading! 🚀💹
by T-Q
LTCUSDT Sideways Trading Strategy! 🚀 LTCUSDT Sideways Trading Strategy! 📉📈 #LTCUSDT #Cryptocurrency #TradingStrategy #TechnicalAnalysis #SidewaysMarket Greetings, crypto enthusiasts! 🌟 Today, I bring you an exciting trading opportunity in the LTCUSDT cryptocurrency pair. The 1-hour chart indicates a sideways market, lacking a clear bearish or bullish trend. To capitalize on this situation, I've devised two trade plans using buy stop and sell stop orders, strategically positioned with support and resistance levels. 📉 Trade Plan 1 - Sell Stop 📉 🎯 Entry: Sell Stop at S2 - 88.518 🛡️ Stop Loss: Sell Stop at S1 - 89.650 🎯 Take Profit: 1:1 at 87.386 This plan aims to benefit from potential downside movement within the current sideways range. The entry point, set at S2, suggests a potential bearish continuation. The stop loss at S1 helps protect against potential reversals. The take profit is set at 1:1, providing a balanced reward-to-risk ratio. 📈 Trade Plan 2 - Buy Stop 📈 🎯 Entry: Buy Stop at R2 - 93.650 🛡️ Stop Loss: Buy Stop at R1 - 91.962 🎯 Take Profit: 1:1 at 95.338 In this plan, we seek to capitalize on potential upward movement. The entry point, placed above R2, indicates a potential bullish breakout. The stop loss at R1 acts as a safeguard against potential retracements. The take profit is set at 1:1, aiming for a reasonable target within the range. As with any trading strategy, it's crucial to exercise caution and manage risk effectively. Cryptocurrency markets can be highly volatile, so I advise using appropriate risk management techniques and not risking more than you can afford to lose. Happy trading! 🚀💹
by T-Q
SOLUSDT Sideways Trading Strategy! 📈 SOLUSDT Sideways Trading Strategy! 📉 #SOLUSDT #CryptoTrading #TechnicalAnalysis #SidewaysMarket #TradingStrategy Hello fellow crypto traders! 🚀 Today, I have an exciting trading opportunity in the SOLUSDT cryptocurrency pair. The 1-hour chart suggests a sideways market, lacking a clear bearish or bullish trend. To make the most of this situation, I have devised two trade plans using buy stop and sell stop orders, focusing on key support and resistance levels. 📉 Trade Plan 1 - Sell Stop 📉 🎯 Entry (Sell Stop): 24.00 at S2 🛡️ Stop Loss (Sell Stop): 24.56 at S1 🎯 Take Profit (1:1): 23.44 In this plan, we aim to capitalize on potential downside movement within the current sideways range. The sell stop entry at 24.00, corresponding to S2, indicates a potential bearish continuation. To manage risk, we set the stop loss at 24.56, aligned with S1. The take profit is set at 23.44, offering a 1:1 risk-reward ratio for a balanced approach. 📈 Trade Plan 2 - Buy Stop 📈 🎯 Entry (Buy Stop): 26.59 at R2 🛡️ Stop Loss (Buy Stop): 25.68 at R1 🎯 Take Profit (1:1): 27.50 In this plan, we seek to profit from potential upward movement. The buy stop entry at 26.59, corresponding to R2, suggests a potential bullish breakout. To manage risk, we set the stop loss at 25.68, aligned with R1. The take profit is set at 27.50, providing a 1:1 risk-reward ratio, aiming for a reasonable target within the range. 🚨 Important Investment Advice 🚨 Trading in a sideways market can be challenging, and it's crucial to exercise caution and adhere to proper risk management principles. Always use stop-loss orders to protect your capital and avoid risking more than you can afford to lose. Additionally, consider diversifying your investment portfolio and stay informed about the latest market developments. Please remember that cryptocurrency trading involves inherent risks, and past performance is not indicative of future results. It's essential to conduct your own research and seek advice from a qualified financial advisor if needed. Best of luck in your trading journey! 🍀 Happy trading! 📈💹
by T-Q
GBPDKK Sideways Trading Strategy! 📈 GBPDKK Sideways Trading Strategy! 📉 Hello traders! 📊 Today, I'd like to present a compelling trading opportunity in the GBPDKK currency pair. The 1-hour chart indicates a sideways market, with no clear bearish or bullish trend. To make the most of this situation, I have devised two trade plans using buy stop and sell stop orders, targeting potential support and resistance levels. 📉 Trade Plan 1 - Sell Stop 📉 🎯 Entry: Below S2 at 8.6742 🛡️ Stop Loss: Above S1 at 8.6852 🎯 Take Profit: 1:1 at 8.6632 In this plan, we are looking to capitalize on potential downside movement from the current sideways range. The entry point below S2 suggests a bearish continuation, while the stop loss above S1 provides a safety net in case of a reversal. The take profit is set at 1:1, aiming for a reasonable target within the range. 📈 Trade Plan 2 - Buy Stop 📈 🎯 Entry: Above R2 at 8.7212 🛡️ Stop Loss: Below R1 at 8.7161 🎯 Take Profit: 1:1 at 8.7263 In this plan, we are seeking to profit from potential upward movement. The entry above R2 implies a bullish breakout, while the stop loss below R1 mitigates risk if the price retraces. The take profit is set at 1:1, providing a balanced reward-to-risk ratio. It's important to note that trading in a sideways market carries inherent risks, and caution should be exercised. As always, I advise using appropriate risk management techniques and not risking more than you can afford to lose. Good luck! 🍀 Happy trading! 📈💹 #GBPDKK #Forex #TradingStrategy #TechnicalAnalysis #SidewaysMarket
by T-Q
BTC/USD Sideway what can we plan?Hi everyone and Happy new years 2023 From Thailand. Wishing you happy and wealthy. Okay let talk about BTC, we surely BTC are in downtrend and now are sideway in downtrend after that no one know it will go to lower low or make reversal pattern but we can do trading by use Stochastic you see in Charts Stochastic quite affect in sideway, my advise is when Stochastic are Overbought and clash with resistant that are Shorts/Sell Signal and Stochastic are Oversold and clash with support that are Long/Buy Signal. However you have to follow closely because range movement of BTC it's so narrow, keep do risk management if ratio of risk/reward less 1:2 it's not worthy to take that position. That my idea hope you get some ideas to trade. Ps. Market always right and should not fight with market.
COINBASE:BTCUSD
by Nicehappy
DGSTACC: SPY MICRO ANALYSIS / CHANNELS CONFIRMATION & SUPPORTS In the chart above I have provided a simple analysis on SPY that takes into consideration channel confirmation estimated by using an average deviation in the two hour timeframe. 1. As you can see previous pennant support has been broken to the down side. 2. Forcing price action to fall down too 375 where price action has seen a STRONG DEMAND before in November. 2. With data from November, if price action is to be supported by 375 this would confirm sideways action is in play with a SUPPLY ZONE AT 390 . 3. Channel up above our current one found support between 390 AND 405 so one can also conclude that SPY likes to move between a 15 POINT DEVIATION month to month. 4. Break down of 375 can push us down into the next fibonacci channel of 360 - 375 .
AMEX:SPY
by DGSTBROKERACC
XAUUSDDear Traders, Gold has given us a mixed signal. The 4H trendline is broken and the bullish impulse move was strong. In the first scenario of retest, it may give a nice opportunity for buying continuation to 1665 level which either push price lower to 1645 levels forming consolidation, or will break and go up to 1682 area of previous year demand zone. I will turn my bias to bullish if it breakes the upper level which I pointed out, and continue up with strong momentum candles cosnecutively. The strength of the dollar seems that has found an edge and we may see a further rise for gold. But if there is no the abovementioned breake of structure with HH and HL, the maintrend will remain bullish pointing down to 1570 and 1475 levels of interest. Also, I am thinking that the banks have moves the older demand zone of 1680 to the 1620 area, so I am pretty cautious. Can you imagine seeing gold touching several times the 1615-1620 price areas for the upcoming months without breaking it down, while at the same time, it will form higher prices above 17xx and 18xx levels? it will happen sth similar in terms of pattern and demand zone like that of 1680 area? Lets's see. Good luck!!!
FX:XAUUSD
by The_Forex_Path
2
NIFTY FOR TOMMOROW - 17-Oct-2022Nifty opened slightly gap down. Recovered right from the opening Closed near day's High. Considering the opening, follow-up moves, and closing, the price did well today, suggesting it might open flat or gap up tomorrow. Volatility is still on the cards Today's Close: 17311 ( closed at RZ) Immediate resistance at 17310 -17400. Immediate Support at 17240- 17180 Tomorrow's opening will decide the fate of further price action Further Resistance: 17500-17530 Further Support: 17000
NSE:NIFTYLong
by manuagarwal21