Trading
BRIEFING Week #49 : Still nothing !Here's your weekly update ! Brought to you each weekend with years of track-record history..
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Phil
Look for Spikes to get Long EthereumLate to the crypto bull run? Maybe not! Technical Analysis is not about predicting the future... it is about identifying opportunity.
COINBASE:ETHUSD has been bullish for a few weeks and I've been patiently waiting for it to trigger a setup. I got what I was looking for on Tuesday of this week and it made for a great teachable moment combining my Spike Indicator, 50% Retracements, and Volume Profile. Another "MUST TAKE" opportunity that traders should study and look for...
BTCUSD Massive Short! SELL!
My dear friends,
Please, find my technical outlook for BTCUSD below:
The price is coiling around a solid key level - 99601
Bias - Bearish
Technical Indicators: Pivot Points Low anticipates a potential price reversal.
Super trend shows a clear sell, giving a perfect indicators' convergence.
Goal - 96781
Safe Stop Loss - 10141
About Used Indicators:
The pivot point itself is simply the average of the high, low and closing prices from the previous trading day.
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WISH YOU ALL LUCK
EURUSD Under Pressure! SELL!
My dear friends,
My technical analysis for EURUSD is below:
The market is trading on 1.0566 pivot level.
Bias - Bearish
Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bearish continuation.
Target - 1.0523
Recommended Stop Loss - 1.0592
About Used Indicators:
A pivot point is a technical analysis indicator, or calculations, used to determine the overall trend of the market over different time frames.
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WISH YOU ALL LUCK
APPLE Trading Opportunity! SELL!
My dear friends,
Please, find my technical outlook for APPLE below:
The instrument tests an important psychological level 242.82
Bias - Bearish
Technical Indicators: Supper Trend gives a precise Bearish signal, while Pivot Point HL predicts price changes and potential reversals in the market.
Target - 236.87
About Used Indicators:
Super-trend indicator is more useful in trending markets where there are clear uptrends and downtrends in price.
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WISH YOU ALL LUCK
NATGAS What Next? SELL!
My dear subscribers,
My technical analysis for NATGAS is below:
The price is coiling around a solid key level - 3.106
Bias - Bearish
Technical Indicators: Pivot Points Low anticipates a potential price reversal.
Super trend shows a clear sell, giving a perfect indicators' convergence.
Goal - 3.067
About Used Indicators:
By the very nature of the supertrend indicator, it offers firm support and resistance levels for traders to enter and exit trades. Additionally, it also provides signals for setting stop losses
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WISH YOU ALL LUCK
USDJPY Set To Fall! SELL!
My dear friends,
USDJPY looks like it will make a good move, and here are the details:
The market is trading on 150.51 pivot level.
Bias - Bearish
Technical Indicators: Supper Trend generates a clear short signal while Pivot Point HL is currently determining the overall Bearish trend of the market.
Goal - 150.18
About Used Indicators:
Pivot points are a great way to identify areas of support and resistance, but they work best when combined with other kinds of technical analysis
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WISH YOU ALL LUCK
SILVER My Opinion! SELL!
My dear followers,
This is my opinion on the SILVER next move:
The asset is approaching an important pivot point 31.108
Bias - Bearish
Safe Stop Loss - 31.335
Technical Indicators: Supper Trend generates a clear short signal while Pivot Point HL is currently determining the overall Bearish trend of the market.
Goal - 30.689
About Used Indicators:
For more efficient signals, super-trend is used in combination with other indicators like Pivot Points.
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WISH YOU ALL LUCK
USOIL Will Go Higher From Support! Buy!
Please, check our technical outlook for USOIL.
Time Frame: 9h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is on a crucial zone of demand 67.101.
The oversold market condition in a combination with key structure gives us a relatively strong bullish signal with goal 68.230 level.
P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.
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CADCHF Will Go Up From Support! Long!
Here is our detailed technical review for CADCHF.
Time Frame: 6h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The price is testing a key support 0.620.
Current market trend & oversold RSI makes me think that buyers will push the price. I will anticipate a bullish movement at least to 0.627 level.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
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GBPNZD Will Go Lower! Short!
Take a look at our analysis for GBPNZD.
Time Frame: 4h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is trading around a solid horizontal structure 2.182.
The above observations make me that the market will inevitably achieve 2.171 level.
P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.
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AUDUSD Is Bearish! Sell!
Take a look at our analysis for AUDUSD.
Time Frame: 4h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a significant resistance area 0.641.
Due to the fact that we see a positive bearish reaction from the underlined area, I strongly believe that sellers will manage to push the price all the way down to 0.637 level.
P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.
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BITCOIN BEARS ARE STRONG HERE|SHORT
Hello, Friends!
BITCOIN pair is in the uptrend because previous week’s candle is green, while the price is evidently rising on the 9H timeframe. And after the retest of the resistance line above I believe we will see a move down towards the target below at 92,443 because the pair overbought due to its proximity to the upper BB band and a bearish correction is likely.
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USD/CHF BULLS WILL DOMINATE THE MARKET|LONG
Hello, Friends!
We are targeting the 0.888 level area with our long trade on USD/CHF which is based on the fact that the pair is oversold on the BB band scale and is also approaching a support line below thus going us a good entry option.
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NZD/USD BUYERS WILL DOMINATE THE MARKET|LONG
Hello, Friends!
Previous week’s red candle means that for us the NZD/USD pair is in the downtrend. And the current movement leg was also down but the support line will be hit soon and lower BB band proximity will signal an oversold condition so we will go for a counter-trend long trade with the target being at 0.586.
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S&P 500 Daily Chart Analysis For Week of Dec 6, 2024Technical Analysis and Outlook:
During this week's trading session, the S&P 500 index demonstrated a consistent and measured sleepwalking upward trajectory towards our target of Outer Index Rally 6123, with potential for further advancement to the subsequent Outer Index Rally level at 6233. This notable ascent toward the target of 6123 is anticipated to result in a pullback to the Mean Support level of 6049, thereby facilitating the next phase of the bullish trend.
EUR/USD Daily Chart Analysis For Week of Dec 6, 2024Technical Analysis and Outlook:
The Eurodollar has demonstrated strong upward momentum during this week's trading session. It retreated to our designated support level, Mean Support at 1.049. Then, it bounced back vigorously to retest the significant resistance level, Mean Resistance, marked at 1.060, which was reached in the previous week's price action. The Eurodollar appears poised to move toward the target value of Inner Currency Rally 1.072 after surpassing the critical resistance level at 1.060. However, it is essential to note that the Eurodollar may retest the support level at 1.049 before continuing its upward trend.
Bitcoin(BTC/USD) Daily Chart Analysis For Week of Dec 6, 2024Technical Analysis and Outlook:
Bitcoin displayed substantial volatility during this week’s trading sessions, reaching our Mean Support level of 91800 and completing our Inner Coin Rally of 103600. Currently, the threshold for Bitcoin is established at Mean Support 96000, with the completion of the Inner Coin Rally 103600 now noted. Recent analyses indicate that the cryptocurrency will likely surpass the completed Inner Coin Rally 103600, which may rekindle its upward trajectory towards the anticipated Outer #1 Coin Rally 110000 and beyond. The possible pullback to Mean Support 96000 will effectively position the market for the next phase of a bullish trend.