Bank of America WK longsHey guys hope you doing great.
BAC showing longs on wk time frame as we can see a very nice pcp pattern formed there which looks fresh and healthy.
Minimum we can take day trades upto level height.
Wait for it ✌
Supportandresistances
Last Time XRPUSD Will Be Under $1! Raise the "Flags"!BITSTAMP:XRPUSD - Bull Flag Prediction
Based on lack of Volume and price falling into a Descending Channel.
The suspected Flagpole from the Low @ .4860 before the Rally to the current High @ 1.26541, suggest a potential 160% increase in price once a Bullish Break confirms the Bull Flag!
First, Price will make a Retracement to the 38.2% Fibonacci Level, testing the July 2023 Highs and the Support of the Descending Channel around .94 - .92 cents.
Added confluence is the Retracement would also be testing the 200 EMA since the appearance of Golden Cross across all Timeframes!
This could be the Last Time BITSTAMP:XRPUSD sees below $1!!
Rallies come in waves, if you missed the first, don't miss this one!!
“The Nasdaq Index Extends Losses”In the U.S., the JOLTS job openings decreased by 237,000 in July compared to the previous month, dropping to 7.673 million. This marks the lowest level since January 2021. Following this data, expectations have increased that the Federal Reserve (Fed) could reduce the policy rate by a total of 125 basis points across its three remaining meetings this year. Additionally, the likelihood of a 50 basis point rate cut at the Fed’s September meeting has risen to 45%.
The release of U.S. macroeconomic data, which has triggered recession concerns, has led to increased selling pressure on the indices.
Technically, the Nasdaq index, which has retreated to the 18,780 level, could experience further selling pressure, potentially reaching the support levels of 18,450 and 17,900. In the event of a potential buying movement, if we see a close above the 18,900 level, the upward trend could extend to the resistance levels of 19,520 and 19,970.
EURAUD - 1H - Long Position - Support & ResistanceIn this chart we mark support & resistance grid lines, which help us to decide entry & exit point of the trade.
Sideways Movement with Trade OpportunitiesEURUSD is exhibiting a sideways movement on the weekly chart.
Here are two potential trade opportunities:
1. Buying Opportunity:
- Wait for a retest of support at 1.0847 for a potential buying opportunity.
2. Shorting Opportunity:
- Look for a shorting opportunity on the Bearish Shark Pattern at 1.0893.
What's your preferred trade plan for EURUSD?
Bearish Bat Confirmed, Shorting Opportunites AheadUSDJPY's Weekly chart confirms the presence of a Bearish Fib-3 Bat Pattern, signaling a potential trading opportunity.
One approach to engage this trade involves patience, waiting for a break and close below 146.66 on the 1-hourly chart.
Upon confirmation, I plan to enter the trade, anticipating a significant pullback or a setup aligning with the bearish pattern.
What are your thoughts or trade plans for USDJPY?
Share your insights or strategies below!
EURUSD Now (Still bullish on 4h TF)From my previous analyses, EURUSD continues to accumulate to the upside.
Here is a possible entry for a bullish continuation to take out the previous swing high.
Chart image:👇
Bullish Momentum in Focus!Trading on the Euro Yen has been on a bullish trend, with some market consolidation due to the over-extended movement. To take advantage of this trend, we recommend buying at support and selling at resistance, which can potentially produce a profit potential of 170pips on the 4-hourly chart.
On the daily chart, we have just broken the very aggressive and trending bullish trend line, but there are other trend lines that can offer a buying opportunity. However, we suggest waiting for a selling opportunity at 158.49 and a buying opportunity at 156.79 on the 4-hour chart, where there is a precise entry point for a bullish run.
With an initial stop-loss at 156.33 and the first target at 157.35, this trade can be engaged on the 1-hourly chart at 156.82. It is important to note that this is not trading advice, and investors should do their own analysis and not follow blindly.
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? 🕰️
GBPUSD at the crossroads.On the weekly timeframe, OANDA:GBPUSD has come back down to previous resistance turned support AND the line of an uptrend. What do we think? Personally, I am short. Last week's indecision candle was met with higher than normal volume followed by a continued selloff. A break below could mean big red soon.
BTC 1H Review Short-Term!Hello everyone, I invite you to check the current situation on BTC in pair to USDT, taking into account the interval of one hour. First of all, we will use the blue lines to mark the uptrend channel, from which the price exited at the bottom and entered the downtrend channel formations. What's more, very often the exit from the channel is close to the size of the channel, in this situation we can see the price drop to around $28236.
In order to determine the support places for the BTC price, we will use the Trend Based Fib Extension tool, and here we see that the first support is at the price of $ 28973, then we can define the support zone of $ 28,528 to $ 28,171, but when the price breaks out of this zone, further we have very strong support at $27815 followed by $27305.
Looking the other way, we can determine the places of resistance in a similar way. First, we will mark the resistance zone from $29734 to $30009, when we break it we have resistance at $30277, then resistance at $30690, then very strong resistance at $31175.
The CHOP index indicates that the collected energy is used for a local price increase, the RSI indicates a significant increase with room for the price to go higher, but on the STOCH indicator we can see that we have exceeded the upper limit, which may affect the slowdown of the price increase and even return to correction.
Bullish view on GoldThe weekly chart shows a solid support level at $1919.36 and resistance at $2016.26.
Excitingly, a Potential Bullish Flag Pattern on the 1-hourly chart signals a potential buying opportunity at $1954.80. Brace yourself for a substantial market movement! 🌟💰
Personally, I'm keeping an eye on a Bullish Fib-3 Bat Pattern forming at $1951.93, with a stop-loss set below $1949.10.
Remember, don't follow blindly—make your own trading decision. 🧠💼
Tricky Times, I'm Counter-Trend Now!💲 Despite my Dollar Bias, all eyes are on US Secretary Treasure, Ms. Janet Yellen's upcoming speech in Bloomberg. Analyzing her insights could confirm the dollar's bullishness for the year ahead.
📈 On the Daily Chart (right), there's an outside bar on the support line. Patient traders await one more day's candlestick before deciding their next move.
📉 If you're determined to short USDJPY, keep an eye on the 1-hourly chart (left) at 138.89, as long as the market stays within the sell zone. It's worth considering.
📈 On the other hand, if you're bullish, pay attention to the key level at 138.21 for a potential head and shoulders pattern, indicating a buying opportunity.
⚖️ If you're torn between shorting and buying, observe how the market behaves at 138.21. A violation confirms your short, while no violation means a tough decision awaits.
2 different perspectives🔍 Let's explore the current outlook on USDCAD from two different perspectives.
📉 The major break of a key support level suggests a bearish sentiment in the market. I'm inclined to take a shorter position, and I'm patiently waiting for a retest at 1.3305 for a potential shorting opportunity.
🕰️ However, if you have a different view, on the 4-hourly chart, there is a support level at 1.3268. You can wait for a confirmed candlestick pattern before entering the trade, ensuring a more conservative approach.
Stay tuned for more updates and trading opportunities as we navigate the market together. 💼📊
#USDCADAnalysis #BearishSentiment #ShortingOpportunity #SupportLevel #TradingOpportunities #StayTuned
Counter-Trend on USDJPY📉 This week, I'm keeping a keen eye on a counter-trend trading opportunity for USDJPY. I'm patiently waiting for a potential shorting opportunity at the Key Resistance Level of 142.96.
⚠️ However, it's important to note that despite this shorting opportunity, my overall bias remains bullish on the US Dollar. This week appears to be a retracement week in the market.
Stay tuned as we navigate through market movements and identify potential trading setups. Let's make the most of this retracement period! 💪💼
#USDJPY #CounterTrendTrading #ShortingOpportunity #RetracementWeek #StayTuned
Shorting Opportunity🔍 Take Note! This week's market may experience a retracement, and my focus is on a potential shorting opportunity at the resistance level of 1.0987.
Stay tuned as we analyze the charts and identify the optimal entry points for profitable trades.
Let's navigate the retracement together and seize the right opportunities! 💪📉
DXY to crash soon?Please read entire description!
Bearish Wolfe waves forming inside an ascending wedge on the daily timeframe charts of the dollar currency index.
We have entered the monthly resistance band of the ascending parallel channel on the monthly charts and we have reached the top of a channel that we have been trading inside on the daily chart. We are approaching the top formed right before the "dotcom" bubble burst causing all markets to crash (late 90's - early 00's) as well.
I think a decent correction is overdue especially with The Federal Reserve hiking interest rates steadily and with CPI (and inflation rates) reaching high numbers that haven't been seen for over 40 years.
I don't think is it really possible to pinpoint the top for this run but we are certainly getting closer imo.
We could start the downtrend from the top of the daily channel, monthly channel, or reach all the way to the top of the dotcom crash (which relatively isn't too far away).
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Monthly chart channel (resistance band marked in red):
Daily chart channel:
The bigger picture (daily support levels marked in teal):
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Thoughts and opinions appreciated.
SOL - USDT 4HChart, ShorttermHello everyone, let's look at the SOL to USDT chart on a 4-hour time frame. As you can see, the price has returned above the local downtrend line.
Let's start with the support line and as you can see the first support in the near future is the zone from $22.07 to $21.65, if the support is broken then the next support is $21.32 and below we have the second zone from $20.98 to $20.98 $20.50.
Now let's go from the resistance line, as you can see the first resistance is $22.76, then we have the resistance zone from $23.09 to $23.55, the next resistance at $24.10, then the price will move towards strong resistance at $25.73 $
Looking at the CHOP indicator, we see that the energy has been used, the MACD indicates a local uptrend, while the RSI is moving in the upper part of the range.
USDJPY - FREE MONEY!!This is the kind of trading setup that I used to shout! FREE MONEY!! It's a sideways bounce formation; as the name implies, I expect the market to bounce between the two zones, the red and blue zones. The profits are pretty good, given that it is a 15mins chart, it produces a potential of 56pips(approx 560usd/lot).
With that, risk management is essential. Don't jump into the trade without measuring your initial risk, and it is important to wait for the candlestick patterns confirmation so you can potentially avoid the one that is going to violate (BREAK) the trading setup.
GBPUSD-Weekly Market Analysis-Dec22,Wk3On the Weekly Chart, the candlestick paused and reversed on the Key Resistance Level, and because of that, I have a Bearish bias on the GBPUSD trade.
Two levels of trading opportunity present themselves on the 1-hourly chart.
Structure-based setup, where the resistance level sits at 1.2222 or a Bearish Shark Pattern trading setup that completes at 1.2329.
MATIC / USDT 1D chart Resistance and SupportHello everyone, let's look at the MATIC to USDT chart on a 1 day time frame. as you can see, the price, after a fairly large drop, started to return along the uptrend line and gave an increase of 227%, and then began to move in the sideways trend channel.
Now let's look at what supports MATIC has on its way and we see that we have the first support at $0.81, the second support at $0.70 and the third support at $0.53.
Looking the other way, we will check resistance points for the price that we should take into account in the longer term. The first resistance is at $1.03, the second at $1.20 and the third at $1.45.
It is also worth marking the local uptrend line above which the price is still holding.
As you can see, the CHOP index indicates that the energy is highly charged, the MACD indicates that we are in an uptrend, and the RSI shows that we are in the middle of the range, which may indicate a further sideways trend.
#Nifty 15Min #SupportandResistance for 22/11/2022 #NIFTYFUTUREHi All, here I shared my view on #niftyfuture Support and Resistance level for 22/11/2022. for educational purpose only, not for trade recommended.
XRP / USDT 1daychartHello everyone, I invite you to review the XRPUSDT chart for one day. As we can see, the price dived strongly and quickly returned to the uptrend line.
It is worth noting that the price has two trend lines on its way that must be overcome, so we can see that XRP has already tried to overcome the first trend three times.
Now let's move on to the designation of the support line and in this situation we can see that the first support is at $ 0.35, the second at $ 0.32, the third at $ 0.30 and the fourth at $ 0.28.
Likewise, we will set the resistance lines that the price must overcome in order to continue rising. We have the first resistance at $ 0.40, the second at $ 0.46, the third at $ 0.55 and the fourth at $ 0.64.
Now let's move to the CHOP index which indicates that the energy is slowly starting to rise, on the MACD indicator we can see that on the one-day interval we are in a downward trend, and the volume shows a large green buying candle, while today the selling candle has a small advantage.
