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Bitcoin to 48k again?Numerous indicators are showing that Bitcoin may want to retest that 48k resistance level again. The retest comes quicker than I anticipated by I am not going to fight price action here. VRVP and FRVP support strong accumulation at or near the neckline of that inverse H&S pattern I have drawn. Neckline has been broken to the upside where there is not a lot of selling pressure. Playing a BTC long here to 48k with a SL just below the point of control (red line) on the VRVP.
INDEX:BTCUSDLong
by stewdamus
📉 Nifty 50 Index: Short Opportunity on the HorizonGreetings, fellow traders! Today, our focus is on the NSE:NIFTY index. Here's the breakdown: 📈 Upward Movement: The index has been on an upward trajectory, recently approaching the 200-day moving average. 🚨 Near Resistance: However, it's currently near a significant resistance level, suggesting potential selling pressure. 💡 Short Selling Opportunity: I'm eyeing a short opportunity in the range of 19,500 to 19,800 for this index. 📉 Option Buying Strategy: For option buyers, consider 19,800PE or 20,000PE strike prices to capitalize on a potential downward move. 📆 Timing: This bearish outlook is anticipated to unfold in the coming days. 📌 Important Note: Trading involves risks. Make sure to conduct your analysis and manage your risk accordingly. 🤔 Your Strategy: What's your take on the Nifty 50 index? Are you aligning with this short opportunity, or do you have a different perspective? Share your insights! 👋 Until Next Time: Thank you for tuning in. Goodbye for now, and see you in the next post. Best regards, Alpha Trading Station
NSE:NIFTYShort
by AlphaTradingStation
SBILIFE: A Promising Short-Term Trading OpportunityHello traders, Today, let's set our sights on SBILIFE , a stock that's been on a consistent upward journey. Here's what you need to know: Rising Trend: SBILIFE has been steadily moving in an upward direction, making it a compelling pick for traders. Growth Potential: There's room for this stock to surge further, especially if it approaches near 1320 level. Option Strategies: If you're an option buyer, consider 1350 or 1300 CE options. These could be strategic choices to explore. Key Takeaway: It's important to note that this isn't an investment opportunity, but rather a trading prospect. If short-term moves align with your strategy, SBILIFE could be worth a closer look. Your Strategy: Are you considering SBILIFE for your trading portfolio? Share your insights and thoughts with us. Stay Updated: Keep following for more trading insights and opportunities. Best regards, Alpha Trading Station
NSE:SBILIFELong
by AlphaTradingStation
8
TRADE ALERT - LONG SANDTraders, Admittedly, I am making this trade partially because I am a little bored with this price action in the crypto space lately. But, SAND is oversold and it has been for a few weeks. I expect a pop anytime now. Additionally, you can see we are still in a bullish descending triangle. Now, in a bull market, this would be highly bullish to exit. However, I have learned that an exit from these triangles rarely plays out the same way in a bear market. Therefore, I will be happy to simply touch that 50-day ma at around .37 cents. I will make that my target. Stop out will be .28 cents. And my entry was around .30 cents. We’ll see how this goes. Best, Stew
BINANCE:SANDUSDLong
by stewdamus
Matic Looks Ripe for a Bounce/Break HereTraders, Just browsing through the charts this morning and thought I'd throw out a trade opportunity. There are many but Matic looks especially juicy here. Of course, it's always a bit risky before a FED meeting/press conference (i.e.- Jackson Hole) but I am not offering trading advice. I just wanted to show you one of the many opportunities I have spotted this morning. Here's the case for entry here if you are so inclined: - That Yellow TL comes all the way from Jan. '21. It has NEVER been broken to the downside. - Price rarely touches this level on the RSI. Even more rare, would be a break below. Probability stands on the long side here. Best, Stew
M
by stewdamus
SAND is about to go ballistic!Sorry for the clickbait title but I am feeling the vibe on this one. I know, I know. Targeted by the SEC as a security. But, on the other hand, one of the tokens legalized by the Hong Kong market. Outside of debates regarding fundamentals, let's dive into what the technicals seem to be showing us! First, take a look at the beautiful triangle! Dang son, it don't get much better than that yo! Now, look down there at that RSI. See that red TL? Pop, pop, ...and POP. At every touch you can bank on cash. Incidentally, this third touch will coincide with a touch of the bottom of our triangle. And, just below that, a very important support. This is an easy bet. I have entered at 37 cents ish and will hold till at least 53 cents with the remaining balance to 58 if I don't get stopped out first. I will be moving my stops up as we go as always. Best, Stew
BINANCE:SANDUSDLong
by stewdamus
TRADE ALERT - LONG XRPTraders, We have waited patiently for this moment. Crypto, quite honestly, has just been annoying lately. But finally, XRP has touched my support and target down for re-entry at 58 cents. My buy order was triggered at .585 to be exact and I plan to hold this to at least the .995 target and potentially $1.17. Take a look at the RSI. Notice the RED TL. You could have traded XRP on this indicator alone and made massive profits. And for the most part, my followers and I have entered at those touch locations with a few exceptions. Anyway, today is your lucky day. Why? Because we are just about to hit that RED TL on the RSI once again. I'm a bit early in my entry just b/c I has my buy set at .585 and it was triggered. But ideally, I would have hoped the touch of the red TL would coincide with a price of .58 cents. I think over the next day or two you all will see that happen. AND. You just might be able to enter at a better price than I have. Best of luck to you all! Stew
Long
by stewdamus
Trade Alert - Long BTCHi Traders, I'm OoO rn on vaca. But a quick glance at BTC on my phone shows me that BTC has settled nicely above previous resistance and is now using this level as support. Good accumulation has been built and it looks at though BTC is ready to move higher. I bit. I will establish my target more carefully once I return but for now I will set a generic target of $37k. My SL will either be the avg buy in of my previous purchase and this purchase OR somewhere below that huge area of confluence ( haven't decided yet). I will make more definite targets and SL when I get back and add them to the spreadsheet for those of you who track this way. Stew
INDEX:BTCUSDLong
by stewdamus
Trade Alert - Long Hedera HashgraphI know, I know. Very last post. The title of my video, “Now is not the time to be buying altcoins”. And I do stand by that statement for the most part. Because for the most part many of the larger cap alts (which is mainly what I trade in a bear market) do employ a variant of the PoS mechanism. And this is really what the SEC has been targeting at the moment, minus Ethereum for some unknown reason. Hedera is not a traditional blockchain and does not use either PoW or PoS. Hedera Hashgraph is a distributed ledger technology that aims to provide a secure, fast, and fair platform for decentralized applications. To accomplish this, Hedera Hashgraph employs a consensus algorithm called "hashgraph." This algorithm enables high transaction throughput by leveraging a directed acyclic graph (DAG) structure, where each transaction is represented as an event. These events are then asynchronously gossiped among network nodes, forming a shared history of all transactions. By utilizing a gossip protocol and virtual voting, hashgraph achieves consensus on the order and validity of transactions. Moreover, Hedera Hashgraph incorporates a governance model to ensure decentralization and fair decision-making. The technology offers potential benefits for applications requiring speed, security, and scalability, such as decentralized finance, supply chain management, and social networks. Now, that I have touched a bit on the fundamentals in hopes of helping to justify my trade :-) let’s quickly look at the technicals. Hedera has reached the end of a bullish descending wedge which also runs into some very solid support at .044. Should this break then, yes, we’ll probably drop down to that next level at .036. But odds are in our favor here that we go up instead. I’ll be shooting for that 200 day ma which, right now, sits at .058. My stop out will be right around .0415. Let’s go! Stew
by stewdamus
1
TRADE ALERT - LONG ALGOAlgo has also entered my target down area and with the daily RSI into oversold territory, I believe this is an appropriate area to enter. Yes, Bitcoin could still come down to that 25,200 neckline area or lower, dragging ALTS down even further, but I have set my entry targets for these recent alts trades and will stick to the trading strategy at this point, holding through potential losses until they become profits again. Target will be upper levels printed. SL would be 14 cents or lower. Best, Stew
Long
by stewdamus
Trade Alert - Long XRPTraders, You know I have waited patiently for this one. For three weeks plus, I have set my entry area at .42 and I have remained disciplined, staying out of the trade until entry target was reached. Today that was achieved. In fact, I even got a better deal with an entry at our 200 day ma. Target depends but I am shooting for those levels above and may hold a bit to .58 cents again. Stop out will be around .37 cents, again pending price action. We’re batting 100% so far on XRP. Let’s keep it going and make it 7/7 wins! Best, Stew
Long
by stewdamus
Trade Alert - Take ProfitTraders, Admittedly, I may still be a bit skittish in this bear market. Maybe I am being too cautious? But with tomorrow's Shanghai upgrade on Ethereum happening tomorrow in which millions of Eth will be unlocked AND with this latest candle forming what could end up being a bearish shooting star, I am happy to take my profits here and wait it out. Closing this trade will bring out win streak to 14 in a row. Congrats to all those who have been following me in these recent trades! Stew
COINBASE:ETHUSD
by stewdamus