PENN Finally Broke SupportPENN finally broke support at 64.16 after a series of lower peaks. I got puts yesterday after we closed under support but at a high RSI value on the 5 minute chart. First target is 59.28 then 50.81.
Supportbreakdown
DAX - trouble ahead?XETR:DAX was one of the few indices that still had decent relative strength recently.
With break of support, things are starting to change today. More downside is likely to follow.
GBPJPY BREAKS 131 SUPPORT : WHAT FOLLOWS ?The British pound ran into resistance again against the Japanese yen as it rallied towards the crucial 132 level. This is an area that has been important more than once, as it was previous support. At this point, the market looks as if it is trying to roll over again.
Outlook in GBP/JPY is unchanged as GBP is long-term bearish. Below 130.64 will target a test on 123.94 low. but a nearby target could be the 127 level.
One thing is for sure, the market looks as if it is running out of momentum to the upside in general, so having said that it is likely that the downside is going to be much more preferred.
Risk Warning : The risk of loss in trading Foreign Exchange (FOREX) can be substantial.
You should therefore carefully consider whether trading is suitable for you in the light of your financial condition.
Goodluck !
LTCBTC MACRO SUPPORT BROKEN?!?! POTENTIALLY NEW ATL'S IMMINENT!Things are looking VERY bearish for LTCBTC at this moment, with BTC having its pre-halving rally yesterday we have seen LTCBTC break its macro HTF Major support level at 5500. Looking left we have only ever broken & closed below 5500 SAT's on the weekly TF once in the history of LTC
If confirmed on the weekly TF, LTC may be looking to fall back further into the dirt potentially testing weekly order block between 3700->2800 SAT's
Previous prediction of LTCBTC bouncing off major support unfortunately did not play out. So looking at the next plays, once major support at 5500 is confirmed to be broken I will be looking for short opportunities once we retest that level of 5500 SAT's & confirm it to be new macro resistance.
Taking into consideration all possible indicators, although we have bullish divergence on CCI on 4HR TF, this data is potentially useless as it would be pending BTC's movement. Looking at past data any volatility from BTC in either direction usually means alts take a dumping.
Will be updating this chart once 5500 SAT is confirmed to be broken,
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S & P 500 Rising Wedge on Daily chartcan go little higher and after daily closing below 2800 it can touch 2600 , 2400 , 2300.
$ULTA Sell The Rallies, Don't Buy The DipsWe expect weakness to continue in $ULTA.
There was quite a bit of technical damage done last week and we are targeting $184 to $194 on the downside.
Ulta Beauty (NASDAQ:ULTA) went into a freefall last month after a soft Q2 earnings report and warning on a July to August slowdown in color cosmetics sales.
During the earnings call (transcript), Ulta execs stated that there's been a "disruption in the makeup category" that accelerated over the last several weeks. "After several years of very strong performance, growth in the makeup category has been decelerating over the last two years, but recently turned negative," noted Ulta CEO Mary Dillon.
Surveying the scene, Oppenheimer warns that the makeup malaise could last the balance of the year as the comparable sales marks will be tough to match, but sees value for long-term ULTA investors at the current trading price.
As always, trade with caution and use protective stops.
Good luck to all!
If This Support Breaks, Be Ready To Load Your BagsUnfortunately, $LINK does not look the best right now. If the current support is broken, I anticipate price to fall and test the $2.00 range. If that support is broken we will see the $1.75-$1.80 range. The thick black line is VERY strong support. If we reach that price, I will be buying heavily.
*This is not financial advice. I am not responsible for any losses of money.*
IndusInd Bank - Short when it goes below 1320IndusInd Bank ( NSE:INDUSINDBK ) looks very weak on chart and have broken multi-month support today.
Tomorrow if stock goes below 1320 it can fall further.
Reasons for Trade:
Stock has broken Multi-month Support
Current Trend is bearish
Trade Setup:
Short / SELL when price goes below 1320
***Long term support BROKEN***NASDAQ:MYL Sell short below yesterday's low
Please like, comment and follow if you like my ideas. THANK YOU!!!
Please note that this information is not a recommendation to buy or sell. It is to be used for educational purposes only.
CHFJPY Sell opportunity CHFJPY Daily Chart
Pending Sell stop order- Swing trading.
Looking for a trend-line breakout & Support breakdown.
let's see how it goes.
Good Luck!
#BTC tested 6k =100% Perfect= Last Bounce or Support Breakout?Hi Followers and Friends,
Finally BTCUSD / Bitcoin re-tested 6k as predicted by the Moving Water = @lemosedmirf , on the chart bellow.
And now is a critical point to BTC, what now?
Should price bounce from here or have a Support Breakout?
$ 5,800 is Huge Support for BTC and needs a lot of power to go Trough. As you can see and AS PREDICTED on the PREVIOUS BTC CHART UPDATES, priced BOUNCED from there, and it seems that it will continue this bounce, but until when?
$ 5,500 indicates another BIG SUPPORT and a STRESSED OUT AREA for Bears on BTCUSD.
On This one All Targets Hit => 100% PERFECT:
On This one Spotted a little lower target, but almost complete with all 5 targets, so far 98% Perfect:
=> So, Let me know some Ideas => Please Share ..
HOPE THE BEST TO YOU ALL.
M.W.
Good Luck and Good Profit
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Top: Trade Bullish or Bearish Market (High Risk - Big Money) - Trade Bull Trap (High Risk) - Borrow Some Money
Follow This and the Risk of Losing Everything Falls to 90%.
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=> MARKET FLOW: Market never happens at once, there will always be many moves inside the waves if you look close enough.
When I spot a Trend and post it here, it does not mean it will go at once, or at that exact moment I post. These Charts I post are Medium/Long Term - so takes weeks/months to complete.
=> CHARTS = (MEDIUM/LONG) TERM - Please Don't Be Confused (Takes weeks/months to Complete)
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=> STOP LOSS: That's a responsibility a person should have with their own money, I don't have the influence on that. I strongly advise you to use a stop loss. Try to catch the waves, but with a secure area, and limit your risks, considering a loss you can afford.
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BTCUSD Chart.. What if the support bounceBut if the support line breaks it with decrease to 5500/5300. Pay close attention this time !
NAVBTC Broke down Fib 1.618 retracementNAV is still moving in the descending channel and broke it down below the Fib 1.618 level we expect further price decrease in the short run. Ichi cloud also indicates a bad scenario. Although with a price decrease we can see volume growth this means that market players are interested in this coin and grab them while they are at dip for a long term trades. If you opened position with NAV move out of it and wait till the price meets the next major support level, then buy it again.
KEY SUPPORT IS DEAD : Welcome in bearish woods.Hello guys, here some updates of my precedent chart.
The crucial point of my precedent TA didn't hold and invalidate the ABCDE bullish flag.
We clearly see now the woods of a major correction. Remember correction are healthy and that's a good time to buy more if you caught the good price.
Different scenarios are now possible :
- We could be at the wave C of an EW ABC correction that would push us to 8k area.
- We can see on the chart a descending triangle pattern who could slowly put us to 7-6k area with a possible breakdown to 4K... and yes... i think it's possible but as always it's a game of probability.
For the first time in Bitcoin history (if i remember well) the daily MACD shows a possible reverse trend in bearish zone.
RSI shows signs of bearish too.
We'll probably retest 10K before any other scenario, but i don't expect this support to hold a very long time.
It's always a pleasure to read your comments, agreements and disagreements are always welcome when there are constructive.
Bullish till resistance-AUDCADPrice has rebound at support level. Also, price has not close below hourly trend. We can expect a bullish movement till resistance level.
Huge Support Short USDJPYIf we get up to the 110.10-110.50 area we will hit a short where the RR is greatest at 110.45, looking to play to the next level of resistance
Potential Breakdown in Copper FuturesCopper Futures are flirting with their support level at 2.5775, so today I'm watching to see if they break that support line, and more importantly, I will look to see what happens Thursday to see if there is confirmation of the trend.
We could just as easily see Copper fall below the support line, just to bounce right back up on a false breakdown. That's why I prefer to wait a day after the initial breakdown.
In terms of risk - reward, this isn't the best play as of right now. You're looking at 1.69:1 ratio, however, that does include a smaller target profit right at the 200 MA. I would begin to take profits at this range, bring my stops in tighter, and extend my profit target zones to the 2.26 zone, which presents next support level.
All the best,
Brandon
