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Trading Plan for Tuesday, April 30th, 2024Trading Plan for Tuesday, April 30th, 2024 Market Sentiment: Bullish, within a consolidation period likely followed by a breakout. Exercise caution and patience with trades. Key Supports Immediate Supports: 5127-30, 5121 (major), 5108 Major Supports: 5083 (major), 5067 (major), 5039 (major) Key Resistances Near-term Resistance: 5136, 5150-55 (major), 5176 (major), 5191 (major) Major Resistances: 5205-5208 (major), 5230, 5246 (major), 5270-75 (major) Trading Strategy Consolidation Breakout: Anticipate a breakout from the current 5120-5155 consolidation range. Plan accordingly for both bull and bear breakout scenarios. Long Opportunities: Prioritize failed breakdowns at 5121 for potential long entries. Focus on bids within the current range and knife-catches on major supports if deep flushes occur (5067, 5039). Short Opportunities: Due to the potential for a strong breakout, approach shorts cautiously. The 5176 and 5191 levels offer shorting opportunities, but with increased risk in the bullish environment. Utilize level-to-level profit-taking. Risk Management: Implement disciplined risk management in this potentially volatile period. Bull Case Holding Support: Defending the 5120 support within the current consolidation range is crucial for bulls. Breakout and Retest: Look for an upside breakout from the 5155 resistance area, followed by a successful retest for further confirmation. Targeting Higher Levels: A breakout could trigger an upward move, focusing on targets at 5176, potentially extending to 5191. Bear Case Breakdown Signals: A convincing break below 5121 signals a downward move. Watch for a bounce/failed breakdown as an entry point for a short position, with level-to-level profit-taking. News: Top Stories for April 30th, 2024 Market Dynamics and Corporate Earnings Global Activity: High activity with 1,300 company earnings reports expected; Federal Reserve's FOMC meeting closely watched for rate decision insights. Sector Highlights: Tech sector leads with major gains by Nvidia and Super Micro; Financials gain on rate cut hopes; Real Estate and Energy sectors lag. Economic Indicators and Central Bank Decisions FOMC Meeting: Coming up on 5/1 Jobs Data: Upcoming release expected to influence Fed's future decisions, especially on inflation control. International Markets Asian Markets: Mixed responses with Japan's Nikkei up and Shanghai Composite down. European Central Bank: Anticipated to follow Fed with potential rate cuts amid inflation challenges. Analysts' Projections and Market Sentiment Future Rate Cuts: Initially expected in mid-2024, now possibly delayed due to persistent high inflation. Investor Outlook: Cautiously optimistic but prepared for potential volatility due to uncertain monetary policy outcomes.
CME_MINI:ESM2024Long
by spytradingpro
BITCOIN: HISTORICAL CYCLES AND HEALVING ROADMAP PART IITHIS CHART IS BASED ON HISTORICAL DATA Let’s get to the chart. Keeping in mind that this chart is based on Bitcoin at this time, it's quite important for the coin. Looking at historical prices, if we examine the first example, focusing on the first bit between the 2012 halving, the month before the halving was actually relatively neutral. We saw a slight uptick in the lead-up, once again following the next major market. If we look at the second example, we actually saw a major move to the upside within around one month of the Bitcoin halving, and then we experienced a short downturn before eventually continuing higher later in the market cycle. Then, looking at the 2020 halving example, of course, leading up to the halving, we had the global pandemic that crashed the market to the downside. However, we saw a major recovery one month before the halving. Following the halving, we actually saw some choppy sideways price action, essentially neutral action over the next month, and then we continued with the market much higher. Overall, in a very bullish time in the market right now, generally around the halving, we are usually trending in a bullish direction. Of course, we can see short-term bearish moves, but the larger trend is bullish. Additionally, we usually see a major market move in the process, at least over the next year after the Bitcoin halving. Taking a look at the first example from the first Bitcoin to the ultimate market cycle, that was 370 days into the market top, exactly one year after the market. Looking at the second example, that was around 520 days after the Bitcoin halving to reach the market top. Then, looking at the third example, from the halving to the ultimate market top, that was around 540 days on average. From the actual Bitcoin halving to the next major market top, it takes around 450 to 500 days. Potentially, we could end up seeing the market topping out roughly around 2025, and then we could end up entering into the next market in the second half of 2025 because the next Bitcoin halving is likely to happen in early 2028. As you can clearly see on this chart, we usually end up seeing these markets occur right in the middle of these Bitcoin cycles. Simply based on history, this is the most likely outcome. Of course, nothing is guaranteed, but the most likely outcome based on historical data is simply seeing the market over the next year somewhere in 2025. This chart will likely help you make better trade decisions if you consider upvoting it. I would also love to know your charts and views in the comment section. Thank you.
INDEX:BTCUSDLong
by CRYPTOMOJO_TA
8
Trading Plan for Monday, April 29th, 2024Trading Plan for Monday, April 29th, 2024 Market Sentiment: Bullish, following a multi-day rally. However, proceed with caution as a period of price discovery and more complex action is likely after the strong movement. Key Supports Immediate Supports: 5127 (major), 5117, 5102 (major), 5089 (major), 5082 Major Supports: 5068-72 (major), 5043 (major), 5034 (major) Key Resistances Near-term Resistance: 5150 (major), 5168-5171 (major), 5185 (major) Major Resistances: 5206-5208 (major), 5230, 5245 (major) Trading Strategy Consolidation Anticipated: Expect a period of consolidation and complex price action after the recent surge. Overtrading can lead to losses. Long Opportunities: Look for failed breakdowns at 5127 or 5102 as potential long entry points. Prioritize bids within the current range for a cautious approach. Short Opportunities: Target the 5185 level (resistance of the downtrend channel) for possible short positions. Consider level-to-level profit-taking within the range. Risk Management: Maintain disciplined risk management in this potentially volatile environment. Bull Case Holding Support: Defending the 5127 or 5102 major supports is crucial for bulls to maintain control. Reclaiming Resistances: Bulls need to push above the 5150/5168-71 zones for a potential run to the next major target, 5185. Adding on Strength: In an ultra-bull case, look for bull flagging above 5127 to add exposure in anticipation of an upward move. Bear Case Breakdown Signals: A convincing break below 5102 could trigger a deeper retracement. True bear case resumes with a break below 5033. As always, be wary of traps – look for a bounce/failed breakdown first, then consider shorting with level-to-level profit-taking. News: Top Stories for April 29th, 2024 Equity Market Overview Global Performance: S&P 500 and Dow Jones rose over 10% in Q1 2024; European and Asian indices also hit highs. Sector Trends: AI boom fuels tech sector gains; value stocks participate more in market rallies. Bond Market Dynamics Interest Rates: Delayed rate cuts by the Federal Reserve impacting bond yields. Performance: High yield bonds outperforming investment-grade due to favorable risk-return amidst volatile rates. Key Economic Indicators Inflation and Sentiment: Persistent inflation concerns; consumer sentiment improves slightly. GDP and Employment: Strong GDP growth and employment figures support bullish equity market sentiment. Market Outlook and Investor Sentiment Short-Term: Continued growth expected, but potential for increased volatility. Long-Term: Earnings growth modest in sectors like IT, significant in "Magnificent 7" companies. Federal Reserve Policy and Market Outlook Fed Stance: Maintains rates; cautious on inflation. Market Impact: S&P 500's performance influenced by rate cut expectations; market may face limited growth post-rate cuts.
CME_MINI:ESM2024Long
by spytradingpro
#ETH FORMING FALLING WEDGE PATTERN!On the daily ETH chart, there's a notable pattern emerging, potentially forming a substantial falling wedge. Statistically speaking, a falling wedge tends to signal bullish momentum. About two-thirds of the time, a falling wedge pattern breaks to the upside, while the remaining third breaks to the downside. However, it's important to note that until we observe a confirmed breakout above the significant resistance level currently at around $3450, any price target remains speculative. Once a breakout above this resistance level is confirmed, it sets up a bullish target at the top of the wedge, approximately at $4060. Additionally, another method to gauge the price target for a fall suggests a potential rise to around $4300. This implies a likelihood of the price returning to above $4000, contingent upon the confirmation of a breakout above $3450. Nevertheless, it's essential to remain cautious as there could still be resistance encountered along the way, even after the breakout above $3450. Keep in mind that other levels of resistance may pose challenges to the price's upward movement. So, while there's potential for a bullish trajectory, it's prudent to monitor the situation closely for further developments. #DYOR #NFA CRYPTOCAP:ETH BINANCE:ETHUSDT BITSTAMP:ETHUSD
Long
by CRYPTOMOJO_TA
2
GOLD - smoothly hold your resistance, now at support? holding?#GOLD. well guys market very well holding your upside today resistance that was 2349 50 and now market just placed our first targeted area 2341 well guys now we have downside immediate supporting area 2339 that is your area now, it will play key role in today next move, keep close it, its your supporting area for now. next selling move will start below that level, otherwise not at all. good luck trade wisely
FX:XAUUSD
by AdilHussain731333
Trading Plan for Friday, April 26th, 2024Trading Plan for Friday, April 26th, 2024 Market Sentiment: Uncertain, with bulls maintaining short-term control but facing the after-hours earnings event, which could bring sudden volatility. Key Supports Immediate Supports: 5067, 5058 (major), 5048 Major Supports: 5036-33 (major), 5010 (major), 4996-5000 (major), 4935-40 (major), 4904-08 (major) Key Resistances Near-term Resistance: 5080-82 (major), 5092 (major), 5108 (major), 5126-29 (major), 5145-50 (major), 5177-81 (major) Major Resistances: 5222, 5243-46 (major), 5272 (major) Trading Strategy Earnings Volatility: Be prepared for unpredictable price action and adjust your strategy in real-time. Trading the Range: Expect price to play within the broad 5036-5126 range. Exercise caution and consider bids/shorts within the range rather than chasing direction. Long Opportunities: Look for failed breakdowns at 5067 or 5058 after earnings. Focus on bids cautiously within the range, prioritizing the knife-catch protocol for deeper longs at major levels. Short Opportunities: Look for backtests of 5126-29, 5145-50, or the major 5177-81 zone if reached. Given earnings, approach shorts very cautiously. Profit-Taking: Use level-to-level profit-taking on any position taken, given the increased volatility risk. Bull Case Holding Support: Defending the current 5036-33 major support is critical. Reclaiming Resistances: Bulls need to push above the 5108 zone for a potential run to the next major target areas of 5126-29 and 5145-50. Bear Case Breakdown Signals: A convincing break below 5036 triggers the downside move. As always, be wary of traps – look for a bounce/failed breakdown first, then consider shorting with level-to-level profit-taking. News: Top Stories for April 26th, 2024 Economic Environment March PCE inflation report and its impact on the Fed's policy decisions. Apollo Global's acquisition of US Silica and implications for the materials sector. Stock Market Updates Mixed signals from global markets amidst geopolitical tensions. Bank of Japan's interest rate policy. Global Market News Market response to various corporate earnings and announcements. Additional Market News Bond market dynamics and potential interest rate cuts. Gold's performance and investment implications. Currency market updates and the impact of the Bank of Japan's actions. Additional Market Insights and News Economic Indicators and Outlook US GDP and Economic Growth: Analysis of the latest GDP report and its implications for growth trends. Corporate Earnings Outlook: Forecasts for 2024 and sector-specific performance expectations. Inflation and Interest Rates: Understanding the relationship between inflation, Fed policy, and corporate earnings. Labor Market Dynamics: Assessing the health of the labor market and its impact on consumer spending and corporate profitability. Technological Advancements and Market Shifts Generative AI and Business Transformation: How is GenAI impacting decision-making and efficiencies in various industries. Quantum Computing and Competitive Edge: Exploring the potential of quantum computing in various sectors and its implications for competitive advantage. Sustainable Technology Initiatives: The increasing focus on green technologies and the integration of sustainability with innovation. Industry Cloud Platforms (ICPs): Examining the adoption of ICPs and their role in accelerating digital transformation. Reminder: The after-hours earnings events introduce major volatility risk. Prioritize risk management and adapt your trading strategy accordingly.
CME_MINI:ESM2024Long
by spytradingpro
Trading Plan for Thursday, April 25th, 2024Trading Plan for Thursday, April 25th, 2024 Market Sentiment: Uncertain, with bulls maintaining short-term control. Key Supports Immediate Supports: 5088-92 (major), 5082, 5077 (major), 5067 Major Supports: 5054-57 (major), 5033-36 (major), 5005-10 (major), 4966 (major) Key Resistances Near-term Resistance: 5104 (major), 5115-20 (major), 5133-36 (major), 5171-75 (major) Major Resistances: 5191 (major), 5225, 5240-45 (major) Trading Strategy Trading the Chop Zone: The 5088-5115 range is currently a choppy, congested zone. Exercise caution with overtrading and consider sniping within the zone over chasing direction. Long Opportunities: Look for failed breakdowns at 5088-92 or 5077. After earnings, focus on bids cautiously within the range, prioritizing the knife-catch protocol for deeper longs at major levels. Short Opportunities: Look for backtests of 5115 or the major 5171-75 zone if reached. Given earnings, a breakout of the current flag pattern is possible and could be considered, but use caution. Profit-Taking: With Meta earnings, use level-to-level profit-taking on any position. Bull Case Holding Support: Defending the current bull flag structure (5088-5115) is critical. Look for a base building within this range or a breakout. Reclaiming Resistances: Bulls need to push above the 5133-36/5155 zone for a potential run to the next major target, 5171-75. Bear Case Breakdown Signals: A convincing break below 5077 triggers the downside move. As always, be wary of traps – look for a bounce/failed breakdown first, then consider shorting with level-to-level profit-taking. News: Top Stories for April 25th, 2024 Earnings Releases Meta Earnings: Reports weak revenue guidance, drops 16%.
CME_MINI:ESM2024Long
by spytradingpro