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Technicalanlaysis

Geopolitical Storms: USOIL's Potential UpsidesIn today's trading session, our focus is on USOIL, where we're eyeing a potential buying opportunity around the 72.30 zone. USOIL has been steadily advancing within an uptrend, and at present, it's navigating a correction phase, gradually nearing the 72.30 support and resistance area. This correction presents an opportune moment to consider a long position, particularly as the broader uptrend remains intact, signaling potential upside momentum. Adding a fundamental layer to our analysis, geopolitical tensions in the Middle East are worth noting as a factor that could influence oil prices. Ongoing conflicts and heightened geopolitical risks in oil-producing regions like the Middle East often lead to concerns about supply disruptions, consequently driving up oil prices. Given the current state of geopolitical affairs, including the conflict between Israel and Palestine and broader tensions in the region, there's a likelihood of increased volatility and upward pressure on oil prices. Traders should remain vigilant of geopolitical developments as they assess their positions in the oil market. Trade safe, Joe.
TVC:USOILLong
by JoeChampion
EURGBP Watch: Strategies Amidst the Correction PhaseGreetings Traders, In today's trading session, our attention is turned towards EURGBP, where we are actively monitoring a potential selling opportunity around the 0.86500 zone. Currently entrenched in a downtrend, EURGBP is navigating a correction phase that brings it closer to the significant 0.86500 support and resistance area. As EURGBP adheres to its downtrend trajectory, traders are observing the unfolding correction, anticipating a strategic entry point near the 0.86500 level. The support and resistance area represents a critical juncture, offering traders an opportune moment to consider a selling position. Vigilance and careful risk management are crucial as traders navigate the intricacies of EURGBP's correction phase. The broader economic context, geopolitical events, and central bank policies can further influence EURGBP's movements. Traders should stay informed about relevant developments to make well-informed decisions in this dynamic trading environment. As always, trade safe and remain adaptable to evolving market conditions. Best regards, Joe.
Short
by JoeChampion
ADA : Aiming a 100% profits opportunity in the Mid term.Cardano (ADA) has been on the decline for more than a year now, ever since it reached its all-time high back in September of last year at $3.10. Throughout 2022, the price of ADA has declined by around 80%. More recently, the price of ADA reached as low as $0.33, which was the lowest in 20 months. Nonetheless, despite ADA being bearish and on the decline, ADA has been trending and trading volume has been relatively high, despite the current state of the market. Following the recent trending nature of ADA, there has been a slight increase in the price in the last few days. ADA increased by 10%, but it is still not enough to suggest a potential reversal in the price of ADA. Nonetheless, this study goes through the technical and fundamental factors of ADA that could have an impact on the price of ADA for the coming days/weeks. Technical Analysis As seen in the ADA/USDT 1-day chart, Cardano is trying to be in favor of bulls but not confirmed yet. Recent price movement suggests that ADA recently found resistance at the lower trendline, meaning that the recent correction was kind of expected. Nonetheless, the price remains bearish from the long term trading perspective and we could expect the price to keep declining in the coming days if the indications fail to fulfill the requirements for a bullish reverse move confirmation. Indicators The fear and greed index suggests that there is neutral in the current market, especially for ADA, whose price has been on the decline for more than a year now but showing a good move by the last 48 hours. Though extreme fear in overall crypto market often leads to reversals, that might not be the case in the short run for ADA. The MACD line of a 1-day chart is currently above the signal line but quite below the baseline. Hence, even though the shorter run momentum is slightly on the bullish end, that could easily change by which our trade needs some strict risk management measures. The RSI of a 1-day chart was recently below 30 and in the oversold region. This then saw ADA have a slight increase in price in the last few days. Though we could assume that since the RSI is now above 30, the price could keep declining. The 20-day MA line is currently below the price of ADA, meaning that the trend at least becomes bullish for short term holding for Cardano. This MA line could act as resistance to the price of ADA if the latter attempts an increase. At the same time the scenario is forming on the 9-day MA too. Fundamental Analysis Perhaps one reason why Cardano (ADA) has been trending recently is that it was announced that Algorand is now in the Cardano ecosystem. Given the magnitude that Algorand has, it could have a huge impact on the development of Cardano as well. Though it’s essential to point out that as much as Algorand is in Cardano, Cardano is in Algorand, given that the two are interoperable. This comes as a result of the deployment of Milkomeda L2. Charles Hoskinson, the founder of Cardano, was quick enough to make the announcement on Twitter. Though Sebastian Guillemot, who is a contributor to both Cardano and Algorand, was also quick enough to correct Hoskinson on the correct way to phrase the announcement. Community engagement has slightly increased for Cardano as well due to the yearly Cardano Summit that will be held in November. Additionally, Hoskinson recently stated on his Twitter account that something of major significance will be announced in November. No matter what that is, ADA bulls are eagerly waiting for this announcement that could potentially be a pretext for a reversal in the long-term trend. In other news, Cardano is also rumored to soon be listed on FTX. If that happens in the coming months, then it could do wonders to the price of ADA. ADA Price Prediction Based on this analysis of Cardano, it is unlikely for ADA to have a sudden surge in price unless we have some huge and powerful community based news prior to the technical analysis study. Currently, ADA may initially face resistance at $0.4148. Assuming the bullish momentum increases soon, then ADA could break this resistance and aim higher. However, as it stands, ADA is likely to keep testing the current resistance depicted by the falling wedge upper side trend line. In such a price surge, to be a healthy move the coin needs some correction and I am expecting a pullback after the current candlestick of the 1D chart closes and if there is going to be any impacting news coming towards the coin including the US stock indices and Bitcoin’s movement we might see a further pullback which is very unlikely at the time of writing this analysis. Though there is strong support at around $0.30, bears may likely continue to have control of ADA. Takeaways In the daily timeframe, the price of ADA continues to hold strong and trade above the key Support formed at $0.35 after the price rallied from its daily low, with the current market looking favorable for most crypto assets. The price of ADA needs to break and hold above 50 EMA, acting as a strong resistance to the price of ADA. The price of $0.4 corresponds to the value of 50 EMA, acting as resistance for the price to break higher to a region of $0.5. Daily resistance for the ADA price – $0.42. Daily Support for the ADA price – $0.35. • Cardano has been trending recently, despite being quite bearish. Now looking bullish for the short term entry but needs some more development to give a confirmation of a long term bullish trend. • Technical indicators suggest that ADA is unlikely to be bullish any time soon. • Recent teases by Charles Hoskinson have increased Cardano’s community engagement. • If support at $0.31 fails, ADA could be heading further down.
Long
by cryptotalk_et
US OIL - to mid 2021 [Overall bullish]Hello Traders and Analysts, A Note before reading - this is a forecast analysis - based upon our trading strategy. This is tagged long, due to purchasing further increments upon imbalances. Please do not take this as face value and conduct the relevant investment strategy to successfully trade the probabilities. A bullish scenario is needed, as well as a bearish , this is a game of patience. Master Key for zones Blue = Monthly Purple = weekly Orange = Daily Magenta = 8 Hour Grey = 4hour Pink = 1 hour See the original analysis here; to capture the extent of the move. The US oil original analysis; December 2020. - The original monthly zones hit towards March to May 2021. This has been successfully achieved now. Monthly Imbalances Price has currently filled a monthly imbalance, with a new fresh imbalance zone awaiting price action to occur. The probabilities are strong here for price to enter into this zone, purely based on the candle wick which has been confirmed from February 2021. The wick on the lower time frames has provided evidence of this reaching a fractal point at $59.20 per barrel. . Price had created an engineered low, for the shakeout of the sellers who are looking for sells of the fresh "high". Note, on the daily, the trend line is well respected with the three soldier candle pattern 'identified as a sell off", however, this is a perfect opportunity to add a long. The monthly imbalance - is still showing the respective low as explained above. The price of oil has continued to show it's strength reaching the next liquidity wick fill at $66.34-54. Now, the next important imbalance zone is yet to be breached and tested. Price can now create a fresh test of the monthly chart, applying as to what the structure on the monthly is showing is, the price can have a high probability of moving back to $60.00 - $62 zone to create a solid rally base rally formation setup. Bearish monthly imbalance scenario: Where price is now entering a fresh imbalance - this is a great opportunity to close out long positions which have been held in a shorter run up or simply close out profits to de-risk and transfer the risk by offsetting shorts. Why? - Simply put, fresh zone is a clear opportunity for the imbalance to occur. The imbalance will be closed out and the market structure will offer a new opportunity. Price can dramatically collapse again with a strong supply, however where price is still showing "long". Oil can be sold off to weekly imbalances or in a worst case scenario to the below Blue, monthly imbalance. Weekly Imbalances The Weekly imbalance provides a good indicator her where price can create a weekly supply or sellers imbalance as the zone is a fresh touch. The probability of price retracing from the newly created high, is a strong possibility. However, as there is a zone higher, Oil can still use this imbalance as a base, to create strong price action floating within a range of $67-60 per Barrel. Look into the smaller time frames for pivot points assessing the risk of entering a trade. Eight hour Imbalance Below are the eight hour imbalances, where a great structure has taken place to provide an opportunity for the base to built upon. The imbalance here will attract the short sellers and scalpers and hedged sellers to cover longs. However the 50% retrace zone aligns perfectly to a strong indicator of where Fibonacci lines mock up a solid alert to monitor the minor inefficiency taking place here. The main wick of interest here - is located at 0.705,for two reasons, one being which touches the bullish trendline - while this co-insides with the inefficiency, this zone is a great area to be present for a engineered fractal for longs. Daily imbalance - for a simplified view Again the imbalance of the monthly aligns with the daily low, so take into account here a inflow opportunity for the building up of a buying imbalance at around $59-60.XX Understanding the context behind Oil with the "disastrous" negative price of the Oil futures crash. 2020-2021. We have seen a nice impulse into the channel and a rejection upon reaching the trendline at $53.00 Good question, based on the fact - from a technical standpoint - the sell off back in February, March 2020 - reversed on a fractal point within the market structure to the crisis of Oil supply being heavy weighted in comparison to the demand . The spike to zero was the abundance of supply which effectively the storage supply became over saturated and "worthless", the May contracts were not accepted for physical delivery and the paying for the delivery took place to prevent further storage. This imbalance was created in which created the impulse. Price re-established itself with $30-36 zone for a further imbalance where price will now look to as a strong demand for price engineering if needed. UK Crude, Vs Brent - correlation Understanding the Fundamentals behind the Supply, Demand & Future Supply through inflation of cause and effect. Oil prices and levels of inflation are often seen as being connected in a cause-and-effect relationship. Simply put with oil current at $66.00 per barrel, as oil prices move up, inflation—which is the measure of general price trends throughout the economy—follows in the same direction resulting in a higher overall price. Keep in mind, as the price of oil falls, inflationary pressures start to ease. Producer Price Index This is a measurement of the rate of change in prices of said commodity , where the change in prices of the products sold is measured by the producer. The exclusion of Tax, trade margins and transport cost which are all variables a buyer of a physical will have to burden. The PPI is a average movement of price, which are subsequently tracked by the economic indicators dealing with the price fluctuations end users have to pay at the end of the supply line. Below is the inflation ETF vs Oil - providing some crucial cause and effect over the future supply of Oil and where price is overall moving towards, again use inefficiency in the market. Do you enjoy the setups? 10 years combined analysis experience in capital markets Focus on technical output not fundamentals Position and swing trades Provide updates where necessary - with new updated ideas tracking the progress. If you like the idea, please leave a like or comment. To all the followers, thank you for your continued support. Thanks, Team LVPA MMXXI
TVC:USOILLong
by LupaCapital
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