Supply Zone
NIO PENDING REVERSAL (UPDATE)DESCRIPTION: In the chart above I have provided a macro analysis update for my previous prediction for NIO.
POINTS:
1. Adjusted pockets for SUPPLY & DEMAND: 1ST LEVEL = $14 - $24 & 2ND LEVEL = $33 - $43.
2. SUPPLY & DEMAND POCKETS do in fact show a common deviation of 10 points of spread.
3. Current $9.50 is serving as CRITICAL SUPPORT that is broken would invalidate entire setup.
4. If we come to see a continuation of this sideways consolidation between $9.50 & $14 price action will begin to squeeze for bullish divergence.
5. More than covered gap from early July 2020.
Scenario #1: Bullish scenario can mean we see price action move into 1ST LEVEL SUPPLY & DEMAND ZONE as we invalidate bearish trend.
Scenario #2: Bearish scenario can mean we break below our critical support of $9.50 and fall to $6.00.
NYSE:NIO
USD/JPY SHORT Hello traders
The price has reached a strong reversal area on the frame today, but the size of the area exceeds 60 points, so we will only look at the liquidity gathering area, which is 133.200. If we get confirmation from this point, we sell the dollar against the Japanese yen. The target is the 131.350 area.
Amaraja batteries Swing trade
Buy amar raja batteries at CMP
Buy 40% of capital at current levels
If comes at 549 to 543 buy 50% another
Sl at 535
Rest keep 10% for avg
Tgt 603 650
Ask your financial advisor before buying
Only for educational purposes
DGSTACC: US500 MACRO ANALYSIS / DIAMOND FORMATION / REVERSAL???In the chart above I have provided textbook matching example of a diamond formation that was entered with bearish sentiment and if followed should indicate a market reversal.
Points:
1. With a Higher Low (HL) being confirmed at the moment next leg to follow should be to the upside.
2. A cross Below 3750 would invalidate this setup.
3. A cross Above 4150 would validate this setup.
CURRENCYCOM:US500
Gold possible pullbackHello Traders
Happy Holidays!
Gold started the week with a bullish move and gap up. The next critical resistance is seen at the Fibonacci 23.6% one-week at $1815, which if broken can lead gold to $1820.
The previous week’s high at $1825 is the level to beat for gold bulls for further gains before the end of 2022.
$1804 offers immediate support to gold buyers. A firm break below would allow commodity sellers to test $1800 and $1797. The next downside level is seen at 200 Daily Moving Average (DMA) at $1782.
We are considering selling gold as long as long as it is below $1820 - $1825 supply zone. Slow movement and consolidation are expected due to thin liquidity in the market this week.
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Dock price actionDock has been moving in the top trending assets recently so keeping an eye on it i think we need to retrace to have a chance of breaking resistance it could be as little as 3 % see green box on chart red is TP .... we could however revisit major support 6% down
Microstructural phenomenons: option strikesThere's no such thing as round levels , instead:
1) You open the option chain of given vehicle;
2) You notice the step between the strikes that have significantly higher volume/OI than the other ones;
3) for example on ES dem would be xx50.00 and xx00.00;
Without further analytics of the option chain, the very general rule is that these levels usually stop & repel the sharp jumps in prices, and allow the average activity to pass through em with a little stuck around em.
Again the reason is microstructural, some of are hedging current & anticipated option positions on good prices. Usually market allows to do it right after economic releases.
About the example, if you have any platform that offers a liquidity heatmap, try to find that reversal on ES & correlated assets, that moment in time that I market with a circle, you might be surprised.
Microstructural phenomenons: re-positioning 4 real, levels can't be re-positioned, but there's a lil detail.
As explained in "Real levels: positioning and clearing", positioned levels can't switch direction, ie once a level was positioned as support it can't become a resistance, once a level was positioned as resistance it can't become a support. A positioned level can only be cleared with time, price or volume.
However, there are things that do exist and not based on the ways of the system behavior, but rather on some lil details how the sub-systems and the super-system work.
Aye aye, easy, a level can switch directing for a very specific and short period of time, but not due to the principles of how things work, rather by a microstructural reasons. The reason is all of us & common sense. When we scale in near a positioned level, but shortly after it becomes obvious with evidence that a level was consumed/cleared (ie there's no more level anymore), in most occasions there's no reason to take a loss right away, it makes sense to try scaling out at around break-even.
1879 was positioned as support in the end of march 2022, the same time 1788 was discovered as a back level of 1879.
Point 1: we enter @ ~ the level;
Point 2: the level gets definitely proved as a cleared one;
Point 3: we leave at break-even, concentrating the liquidity around 1879 (~ when we've entered);
Point 4: we see the result, a pop.
If we would've dropped much deeper than 1788 (technically said, if we would've contacted another deeper level), that phenomenon would've never occurred (there would've been no1 to scale out at breakeven).
Forex can be owned and tamed...You must first own and tame yourself!
AUDCAD made higher highs until it stopped/turned/started again in the direction to create new lows. New lows started to form which broke below previous price points that had buyers interested (demand zone).
When my alert went off to signal to me that price had broken below, I set my Sell Limit and used a Stop Loss as well as a Take Profit. Merry Christmas !!! New Year next week.
Waiting...US30 - Pretty similar is USOIL, close to the 50% on the D retracement, if price holds at 33285 and gives us LTF bullish confirmation im buying, however if that level breaks ill be looking for sells with end targets back at the DL, but we have imbalances to fill above and the Daily closed strong bullish yesterday so im expecting a small pullback before another push today but lets see!
Let me know your thought!