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"Scenario B" for Potential Bearish of Broadening WedgeThe 1st scenario is Broadening Wedge with rebound and break resistance, and then raise to another record with possible to break $2700 first. In this "scenario B" , I try to make some exception for the resistance. Concern the resistance is too strong after the rebound, therefore we will find the correction until it break the support. After that we will find some retrace or swing high about 50% of last wave, and continue with the pressure to 2614 which is known as point B or point 2. After the dip correction, please becareful with new demand probably will push the price for another uptrend. Well at least it corrected first before making new high on NFP next friday, right?
OANDA:XAUUSD
by irpansupiandi
SPY 30-Minute Chart Analysis: Bearish Channel FormingLooking at the SPY 30-minute chart, the price is clearly in a bearish channel, with each rally getting rejected and lower lows being made consistently. Let me walk you through the key details. What’s Happening: Downward Channel: The price is following a downward-sloping channel, which began forming at the peak near $563. Since then, the price has been steadily declining, with lower highs and lower lows, bouncing off the upper and lower trendlines. Resistance at $546.70: There was a strong rejection from the $546.70 level, further confirming this area as a key resistance. Every time the price approaches this level, sellers step in aggressively. Key Support at $539.60: We’re currently hovering just above this level. If we break through $539.60, the next key support zone lies around $528.44, which could be the next target for sellers. What I Expect: Bearish Continuation: Given the strength of the downward channel, I’m expecting more downside. If $539.60 fails to hold, we could see a further drop towards the $528.44 level. Possible Bounce: On the other hand, if the price finds support around $539.60, we might see a short-term bounce back toward the upper trendline, around $546.70, before more selling pressure sets in. Final Thoughts: Right now, SPY is clearly in a downtrend, and I’m watching the $539.60 level closely. A break below it could open the door for further declines, but a bounce from here could present a short-term trading opportunity. Stay cautious as the bearish momentum continues!
AMEX:SPY
by Deno_Trading
Apple - Caution at the all time high!NASDAQ:AAPL just created a new all time high, however we have to be quite careful now. Trading cycles in an overall uptrend is one of the most profitable trading approaches. You are trying to capitalize on the major upswings and missing out on the major downswings. Apple is currently retesting resistance and probably creating the top of the previous cycle. I am waiting for a move back to support before we will then see the next major bullish cycle on Apple. Levels to watch: $240, $170 Keep your long term vision, Philip - BasicTrading
NASDAQ:AAPLShort
by basictradingtv
10
Understanding Technical Indicators - Avoid FaultsI received a question from a member today related to Divergence on RSI or Stochastics. I've been lucky to actually sit down with the creator of Stochastics, George C. Lane, to discuss his indicator and how he used it to trade. I've also been luck to be able to attend multiple industry conferences over the past 20+ years where I've been able to watch and listen to dozens of the best technicians and analysts explain their techniques. Boy, those were the days - right? This video is going to help you understand most technical indicators are designed based on a RANGE of bars (usually 14 or so). This means they are measuring price trend/direction/strength/other over the past 14 bars - not longer. And because of that you need to understand any trend lasting more than 14+ bars could result in FAILURE of the technical indicator. Watch this video. I hope it helps. Get some.
AMEX:IWMEducation
by BradMatheny
Unbelievable Gold Trade Setup! Must-Watch Analysis & Secret RiskTechnical Analysis of Gold Spot (XAU/USD) Chart Overview: - Current Price: $2,364.525 - Time Frame: 1 hour - Key Levels: - Resistance Levels: - TP 3: $2,391.040 - TP 2: $2,386.595 - TP 1: $2,379.694 - Support Levels: - LQZ: $2,371.857 - LQZ: $2,356.635 - TP 1: $2,347.655 - TP 2: $2,339.090 Candlestick Patterns: - Recent Uptrend: The chart shows a significant uptrend starting from July 2nd to July 4th. - Price Consolidation: Following the uptrend, there was a period of consolidation with prices forming a triangle pattern. - Downtrend and Recovery: A sharp downtrend occurred, followed by a recovery attempt which is now in another consolidation phase. Key Observations: 1. Resistance at TP 1 ($2,379.694): The price faced resistance around the $2,379.694 level and has not been able to break through. 2. Support at LQZ ($2,356.635): This level has provided significant support and could be a potential entry point if the price tests this level again. 3. Current Position: The price is currently trading around $2,364.525, which is below the key resistance levels and above the support levels, indicating a range-bound movement. Lecture on Using Proper Risk Management Risk management is crucial for successful trading. Here are key principles to ensure proper risk management: 1. Determine Risk Tolerance: Understand your risk tolerance and set a percentage of your capital that you are willing to risk on each trade. Commonly, traders risk 1-2% of their capital per trade. 2. Set Stop Losses: Always use stop losses to limit potential losses. For the current XAU/USD scenario, a stop loss could be placed slightly below the LQZ support level at $2,356.635. 3. Position Sizing: Calculate your position size based on your risk tolerance and stop loss level. For instance, if you have $10,000 and are willing to risk 2% ($200), and your stop loss is $10 away from the entry price, your position size would be 20 units. 4. Risk-Reward Ratio: Aim for a favorable risk-reward ratio. A common target is a 1:3 ratio, meaning you aim to make three times the amount you risk. 5. Diversification: Avoid putting all your capital into a single trade or asset. Spread your investments across different assets to mitigate risk. Conclusion For an in-depth analysis, make sure to watch the rest of the stream where I cover: - TSLA (Tesla) - DXY (US Dollar Index) - BTC (Bitcoin) - US30 (Dow Jones Industrial Average) #XAU/USD #GOLD #TSLA #MARKETLESSON
OANDA:XAUUSDLong
by Adlercon333
Nasdaq - We still have to be careful!TVC:NDQ is still retesting resistance after we just saw an expected rally of +75%. More than a decade ago, the Nasdaq entered one of the most profitable and easy to trade patterns: a rising channel formation. In the beginning of 2023 the Nasdaq once again retested the lower support trendline in confluence with a retest of horizontal support and continued its bullrun from there. But currently resistance is ahead so we have to be quite careful and properly monitor price action on the smaller timeframes. Levels to watch: $19.000, $16.000 Keep your long term vision, Philip - BasicTrading
TVC:NDQShort
by basictradingtv
2
ETHUSD: Thoughts and Analysis Today's focus: ETHUSD Pattern – Continuation Support – 2878 & 3060 Resistance – 3150 & 3315 Hi, traders. Thanks for tuning in for today's update. Today, we are looking at ETHUSD on its daily chart. Do we have a continuation confirmation? Firm buying continues to push that case as the price continues to track higher today. Do you agree with our top-down analysis? Watch out for any new push lower that moves back to support. This could be a warning that buyers don't have the number just yet. Good trading.
EIGHTCAP:ETHUSDLong
by Eightcap
1
April 29 Weekly Outlook: DXY & GBPUSD High-Impact News Week!!!Greetings Traders, This week promises significant market movement with a series of high-impact news releases, including the Non-Farm Employment Change and the Unemployment Rate among others. In this video, we'll delve into what to expect in DXY and GBPUSD trading, recognizing that such weeks often exhibit manipulative or accumulative behavior. It's crucial to approach analysis with precision and critical thinking, which I've aimed to provide in this video. Stay tuned for updates throughout the week. Best Regards, The_Architect
by The_Archi-tect
2
Ethereum - First -40% and then +150%!Hello Traders and Investors, today I will take a look at Ethereum. -------- Explanation of my video analysis: After the beautiful bullish break and retest on Ethereum back in 2022, we saw sufficient bullish confirmation on the smaller timeframes leading to the +250% rally which we have been seeing lately. Considering that Ethereum is now retesting the previous all-time-high, we might see a correction to retest the next support towards the downside before Ethereum will continue its overall bullish trend. -------- Keep your long term vision, Philip (BasicTrading)
BITSTAMP:ETHUSD
by basictradingtv
9
BTC - Try This INDICATOR for DEMAND ZONES📉Hi Traders, Investors and Speculators of Charts📈 Bitcoin is undoubtedly on it's way to making a new ATH. But one question is on everyone's lips... When will we see a pullback? Pullbacks are a normal and healthy part of any bullish cycle. With the price increasing constantly this entire week, a pullback seems immanent. In today's analysis I'm sharing a quick tip with you on how you can use an indicator to gauge the next major demand zone/support zone without setting up trendlines. This indicator is also helpful in spotting a local top/bottom. Here's another helpful indicator to watch. This one identifies major trends, and gives real time "buy" and "sell" signals which you can setup as alerts on charts: If you found this content helpful, please remember to hit like and subscribe and never miss a moment in the markets. _______________________ 📢Follow us here on TradingView for daily updates📢 👍Hit like & Follow 👍 CryptoCheck COINBASE:BTCUSD
COINBASE:BTCUSD
by CryptoCheck-