USD-CADThe USDCAD creates a support level at 1.36200. There is also a vertical downward trendline that drains the market downward. If the market holds this support level then the market goes upward to the trendline.
Supportzones
Snowflake Ascending Channel bound, with upside potentialHi guys! So always looking for opportunities in repeating patterns/ macro developments.
SNowflake (SNOW) particularly stuck out.
This analysis is conducted in the 1 day timeframe.
Since June 2022, SNOW has been in a Ascending Channel with consistent Higher low prints.
This shows a reoccuring pattern of everytime we've made our way to the bottom of the channel to test Support, we've had bounces to the Upside.
We've had roughly 4 major moves highlighted with returns ranging from 40% to 80%.
We have in April made our way back to test Suppport on this channel.
Currently up roughly 10%.
We are also Above the 21 EMA, maintaining Support.
This is also a reoccuring sign of a rally to the upside.
Currently our 21 EMA is curving to the upside. The rallies that have occured in the past from touching the support line of channel have shown this sign as well.
FOllowed by a Golden cross, where 21 EMA maintains its position above 50 SMA.
Look for this signal to appear.
There is also potential for another test of Support on the lower border of channel. Keep this in mind as it is seen when you look at the previous data.
Remember it is bad practice to trade using a single indicator or tool. Always try to find overlap of signals. Look to updates ont his idea for more evidence to make informed decisions.
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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 SNOW 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.
Roku Test with Destiny A 2 year Support trendline A Buy?Hi Guys. So i am always on the lookout for Macro trend setups, signs and opportunities. I believe ROKU is potentially in a position to take a nice swing.
This analysis is on 1 day.
Notice we have reached a Sloping Support trendline from December 2022.
We've had 2 touches previous that resulted in bounces.
Trendline theory states trendlines can stay intact for atleast 3 touch points.
Owing to the idea that our recent touch point is a solid area to take positions. Has a decent probability of a bounce.
On top of that we have the Blue horizontal trendline, which acts as an added layer of Support.
Incase the black trendline does not hold, this would be next lvl.
Stop loss/limit should be placed below trendlines based on risk tolerance. Small positions can have a larger % loss, vise versa.
Now to Support my theory of this buying a solid area to take positions.
I have 3 indicators.
RSI which is in Oversold conditions after 3+ months.
On top of that the momentum indicators MACD and STOCH. Are also oversold.
MACD is signaling a waning bearish momentum. As seen by the light red histobar prints.
We are looking for and eventually should see Green bars and a bullish cross. Which can bring in necessary demand we need for bounce.
Also STOCH RSI is below the 20 lvl, but crossing Bullish as we speak.
This must continue and a bullish cross ABOVE 20 lvl, will also bring in demand and help with bounce.
If we see bullish changes in the momentum indicaotrs, i believe there would be a even higher probability of prices bouncing.
So pay attention, be diligent and manage risk accordingly.
__________________________________________________________________________________
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 ROKU 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.
Bitcoin (btcusd)The bitcoin price moves in the consolidation zone. The ATH resistance level is 73000-73800 and the support level zone is 60000-61000. If the market breaks this ranging zone and goes further upside then the market creates a new all-time high. but, if the market breaks the support level then go downward to order blocker which is 50500-51500 zone.
How far can the price of BTC go ?The chart shows the levels to which the BTC price may drop in the coming days/weeks.
Currently, we can see that the price is based on the support at the 0.382fib level at the price of $60,000. I further identified a strong support zone from $55,000 to $52,000, which is between 0.382fib and 0.618fib, taking into account two fib retracement grids and trend-based fib extension.
The third place is the second very strong zone from $43,487 to $38,591, located between the 0.618fib and 1fib levels of the previously mentioned fib grids.
When we look at the RSI indicator, we will see a break at the bottom from the trend line, under which there is room to continue the downward trend. However, the STOCH indicator shows a descent below the lower limit, which previously resulted in a change of movement path, which in this case may return the price to the upward trend.
Currently, the correction level reaches 18%, which is a relatively small decrease compared to the earlier stages of the growth market. However, here I do not expect a descent below the first support zone, at which the correction would be around 30%.
BNB/USDT 4HInterval ChartHello everyone, let's look at the 4H BNB to USDT chart, as we can see the price is approaching the lower border of the horizontal trend channel, which is located in the support zone from $517 to $486, while a break from the bottom of the channel and a drop below this zone can give a strong downward movement towards the support level of $396.
Looking the other way, if the declines were stopped, the price has several significant resistance levels. And here you can see the first resistance at $558, then the second one at $592, the third one at the last peak at $645, and then you can see the way towards $732.
Looking at the RSI indicator, there is still room for a greater recovery, while the STOCH indicator indicates that the lower limit has been exceeded and confirms the current price rebound.
Bitcoin ETF: Sideways Action to Pattern Out Excessive GainsProbably the most popular Stock Exchange Traded Bitcoin Trust at this time, AMEX:GBTC has started a consolidation that may turn into a small triangle formation. Triangles are a form of a consolidation that can work to pattern out excessive price gains without a run or correction down.
This is the weekly chart where we can see that GBTC is now above its previous all-time highs. It is still affordable and poses less risk than the actual Bitcoin, which is very expensive.
XAU-USD (GOLD)A stronger US dollar and fewer worries about inflation caused gold to retreat after hitting a record of 2431.
Market volatility is caused by geopolitical tensions between Iran and Israel, which initially increases demand for safe havens. Fed officials' remarks that strengthen the US dollar work against the price of gold. Fed rate cut bets and bullish USD seem to have little impact on the current upswing. Given how near the daily support is, there's a greater likelihood that the price may pick up additional positive momentum in preparation for the new high. And the market has a strong 4h support level at the 2330-2320 zone that is mentioned in the chart.
GBP-USDThe gbpusd pair breaks his support level which is 1.25200. The market creates a higher low structure. Daily candle body closed below the 1.2500 level, the market gave some retracement and then downward to the 1.2200 level which is an order blocker. If there is no stop then the higher support and demand area is 1.2100.
EUR-USDThe eurusd pair broke out his high support level which is 1.07500. And close the wick below this level. So, the market gives some retracement and moves downward to the 1.0500 support level.
Americas Car Mart Testing Multi-Year Demand Zone (Buy Zone)Hi guys!
This is a MACRO Analysis on AMericas Car Mart (CRMT). Macro meaning larger timeframe aka the 2 week in this instance.
Macro moves tend to speak louder than smaller timeframes like the 1 day for example when they start to move in price.
I believe CRMT has come to an important area and poses a great trade setup in my opinion.
If we look to Price action.
Notice 2 Support trendlines outlined. These are MULTI Year Support zones.
When price reached the trendlines, we ended up bouncing UP.
Notice our current price indicated by Orange box.
Our 2 support trendlines have converged. When 2 support trendlines meet it strengthens the Support.
Also notice the 21 EMA (Purple moving average) -> We have been below this since Septemberish of 2023. Moves below 21 EMA especially on the 2 week pose for good Buy zones as well.
So the combination of converging Support lines and being below 21 EMA = Good area to take positions
Now notice the 2 indicators ive included. These are momentum indicators.
STOCH RSI has crossed BULLISH. (where blue line moves above orange line)
Momentum can pick up and start a move up once this crosses ABOVE the 20 lvl.
MACD is currently below the 0 lvl. With the histogram bars changing from dark red to light red. This indicates a waning of bearish momentum. It is also attempting to create a higher low. All good signs. Look for a Bullish cross and green bars to show up. That will help drive prices up.
A cross ABOVE 0 lvl would bring about massive moves up.
Continue to monitor the indicators and price to stay above the Support zone indicated.
__________________________________________________________________________________
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 CRMT 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.
Just A View - SBICARD📊 Script: SBICARD
📊 Sector: Finance
📊 Industry: Finance & Investments
Key highlights: 💡⚡
📈 Script is trading near it's support level.
📈 We may see some good rally into this stock.
📈 One can go for Swing Trade.
⏱️ C.M.P 📑💰- 730
🟢 Target 🎯🏆 - 778
⚠️ Stoploss ☠️🚫 - 712
⚠️ Important: Always maintain your Risk & Reward Ratio.
✅Like and follow to never miss a new idea!✅
Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes.
Eat🍜 Sleep😴 TradingView📈 Repeat 🔁
Happy learning with trading. Cheers!🥂
BNB/USDT 4HInterval Support and ResistanceHello everyone, let's look at the 4H BNB to USDT chart as we can see that the price has broken out of the local uptrend line.
Let's start by setting goals for the near future that we can include:
T1 = $575
T2 = $618
T3 = $649
AND
T4 = $689
Now let's move on to the stop-loss in case of further market declines:
SL1 = $512
SL2 = $484 - $469
AND
SL3 = $425
Looking at the RSI indicator, we can see that we have again approached the downward trend line and there is still a lot of room for recovery, while the STOCH indicator, despite the current rebound, also has a lot of room for recovery.
WHIRLPOOL: SUPPORT LEVELSNSE:WHIRLPOOL is currently trading at its 2018 low levels, indicating a significant downtrend in the stock's price over the past few years. However, the recent formation of a hammer candlestick pattern suggests a potential reversal in the downward trend. Yesterday's hammer candlestick, followed by today's confirmation, indicates that buyers have stepped in to support the stock at these levels, potentially signaling a shift in sentiment.
The hammer candlestick pattern is characterized by a small body with a long lower wick, indicating that despite a period of selling pressure, buyers were able to push the price back up, typically closing near or above the open. This pattern is considered bullish when it appears after a downtrend, as it suggests that sellers may have exhausted their momentum and that buyers are starting to gain control.
EUR-USDThe EURUSD pair is near its support and demand zone which is 1.07600-1.07300. Market also completed his Elliott wave that is shown in the chart. If the market respects this support zone then we see a good recovery to the upward trend.
GBPJPY | long idea!GBPJPY long trade idea based on support zone coming up.
When price reaches this level (180.900) I will be looking to enter long positions.
Always manage your risk!
Let me know what you think!
Will ETH break the resistance zone?Hello everyone, let's take a look at the ETH to USDT chart on a one hour time frame. As you can see, the price has moved higher from the local downtrend line.
In order to determine the resistance, we will unfold the Fib Retracement grid and we can see that the price has reached a very strong resistance zone from $2101 to $2133, which has temporarily rejected the increase.
Looking the other way, we have visible support at the level of $2,063, and then we have a strong support zone from $2,012 to $1,986.
The RSI indicator, similarly to the STOCH indicator, shows that the upper limit has been exceeded, which has slowed down the growth and may result in a price recovery.
NVDA: What to expect for earnings next week?This huge semiconductor has plenty of clout in terms of popularity with retail investors. HFTs are likely to gap on its earnings news which arrives on 11/21, next week.
Clearly there are many who are confident NASDAQ:NVDA will meet or beat analyst estimates despite setbacks and restrictions.
The run hit resistance and became overextended, so some profit taking is occurring for now. The stock is likely to shift to a tighter consolidation near the high of this platforming range.
USDCAD: Trading at a Potential Support LevelUSDCAD broke above resistance a few weeks ago and has now pulled back towards the zone. If the level holds, then we could say that it has confirmed it as new Support. The 200 SMA is also here now, which may provide further support for this level.
If this level proves itself to be bullish, I'd expect USDCAD to make its way up to about 1.39-1.40 during the short–midterm.
On the higher timeframes the CAD looks set up to underperform most of the Major G10 Currencies
ETH/USDT 4HInterval Overview Chart Hello everyone, I invite you to review the chart of ETH in pair with USDT, also on a four-hour interval. Let's start by using the yellow line to determine the local downward trend from which the price broke at the top.
Now let's move on to marking the support places. We will use the Trend Based Fib Extension tool to mark supports, and as you can see, first we have a support zone from $1,772 to $1,744, and then it is worth defining a second strong support zone from $1,674 to $1,621.
Looking the other way, we can similarly mark places where the price should encounter resistance on the way up. And here you can see that the price has been rejected by the resistance zone from $1,844 to $1,894, only when we come out on top will we be able to see an upward movement to the second zone from $1,976 to $2,034.
When we turn on EMA Cross 50 and 200, we can see that the yellow line cuts the blue EMA Cross 200 line from below, which confirms a strong upward trend.
The CHOP index indicates that there is energy for another move, the RSI indicator shows a rebound with room for further movement, but the STOCH indicator shows that we are approaching the lower limit, which slows down the declines and may result in another increase.
XAUUSDGOLD is repeating the same pattern as he repeated back in OCT 2022.
gold is hovering around very important support 1806.
And it seems like bulls are waiting for this level to hit for another aggressive move to upside.
if bulls take the charge then 1st easily achievable target could be 1925.
MTLUSDTMTLUSDT is trading in fine bullish trend and maintaining well the bullish trendline.
Whenever the price retest the bullish trendline buyers are attacking aggressively, which can be seen from the chart.
Currently the price is retracing to the inclining trendline and again it is being expected that the bulls are ready to attack.
if bulls take the charge this time too the next target could be 1.4 followed 1.6
NZDCAD: Bullish Butterfly Trading at Support in a Falling WedgeWe have some PPO Confirmation at the PCZ of a Bullish Butterfly near a Support Level, along with some Pending MACD Bullish Divergence inside of a Falling Wedge Pattern. I think we are setting up to eventually Breakout of the wedge and get a 10-20% move out of it.
