SPY: The Most Important Technical Turning Points (D&W analysis).The SPY is once again hitting a new all-time high today, with the market looking optimistic. As long as it continues to show the pattern of higher highs/higher lows, bullish sentiment will prevail. Last month, I made several warnings that we shouldn't try to guess the top, and that the trend is upwards. The only thing that could reverse the situation would be a clear reversal signal. The link to my last public study on SPY is below this analysis, as usual.
For now, I still don't see any technical evidence suggesting a correction or a pullback, but we should pay attention to some key points, especially its medium-term support levels, because if the SPY loses them, the bullish momentum could become weaker.
Despite leaving a gap below the price, today's candle is small, revealing a contained intraday movement. If this gap closes this week, it could be classified as an Exhaustion Gap, a technical piece of evidence that the trend is losing momentum.
However, the most important key point for the SPY is the yellow area in the chart above. This point is the area of the previous all-time high at $479.98, and a secondary top at $477.55. In addition, we see the 21 EMA rising, and it will probably enter this area soon, forming a triple support level.
A pullback to this triple support level is acceptable, and it's not a technical reason to believe in an immediate reversal; after all, pullbacks in an uptrend are buying opportunities most of the time. But if the SPY loses this point, the medium-term trend could reverse, in which case the next targets will be on the weekly chart.
We can see that just below the yellow area, we have support around $466, a previous bottom, and a point near the 50-MA (red line), which is set up for the daily chart, even though we see the weekly chart. This makes the area around $466 the next area of support should SPY begin a sharper correction.
Since SPY has materialized a Golden Cross pattern (when the 50-MA breaks through the 200-MA, the black line, upwards), we can say that the official trend is upwards, but it is important that SPY keeps prices above these support levels in order to maintain the long-term uptrend.
For now, we have to be aware that the trend is upwards, and we don't see the SPY losing any support levels yet, so there are no signs of a correction, let alone a reversal in sight. We'll proceed very cautiously, paying attention to its key points. In the absence of a clear bearish reversal structure, the SPY should continue to rise, until it reaches $500, which, although not a technical resistance, is more of a psychological resistance, as we know that the market has a soft spot for round numbers.
Of course, I’ll keep you updated on this, so consider supporting this idea if you liked the content, and follow me to keep in touch. What's more, keep in mind that the idea described above reflects my humble opinion. It is not investment advice, use it for educational purposes and to improve your own thesis about the market.
All the best,
Nathan.
Trendanalysisexplained
Tips To Become A Better TraderBecoming the consistently successful trader you aspire to be requires the creation of a new version of yourself, akin to a sculptor crafting a model. The attainment of financial success is a byproduct of acquiring and mastering specific mental skills. Embracing the mantra "I am a consistently successful trader" entails prioritizing consistency over any other rationale for engaging in trading.
To achieve this, it is crucial to recognize that the extent of your success is directly tied to your ability to minimize the assumption of future market movements. Seven key beliefs guide the path to consistency:
1. Objectively identifying edges.
2. Predefining the risk for each trade.
3. Accepting the risk or gracefully exiting trades.
4. Executing trades confidently based on identified edges.
5. Appropriately compensating oneself as profits materialize.
6. Continuously monitoring susceptibility to errors.
7. Recognizing the absolute necessity of consistent success principles and adhering to them unwaveringly.
Trust in oneself is paramount, as susceptibility to errors rooted in rationalization, justification, hesitation, hope, and impatience can undermine success. A future projection of a successful trader necessitates growth into that role, recognizing and addressing common problems such as an unwillingness to create rules, failure to take responsibility, and addiction to random rewards.
The development of a trader mindset unfolds in three stages:
1. Mechanical stage: Building self-trust, flawless execution of a trading system, thinking in probabilities, and fostering unshakeable belief in consistency.
2. Subjective stage: Utilizing learned market insights freely.
3. Intuitive stage: Operating on intuition.
Trading involves meticulous steps:
1. Choosing a market.
2. Defining edge variables precisely.
3. Executing trades based on rigid system parameters.
4. Determining stop-loss exits based on market structure.
5. Selecting a consistent time frame for all signals.
6. Scaling out of winning positions with a favorable risk-to-reward ratio.
7. Rigorous testing of chosen variables for effectiveness.
In summary, success in trading lies not only in mastering market knowledge but, more crucially, in cultivating a disciplined mindset and adhering to proven principles.
NVDA: Beware of these Support / Resistance Levels (H & D charts)NVDA shares are losing momentum after a powerful upward reaction this morning. It seems that as it approaches its resistance area, it is becoming difficult for NVDA to maintain its upward trajectory.
We had a good reaction near the Fibonacci retracements, which, as we warned in our last public study, was our main area of support. Now the price is trying to recover, but there are still some challenges ahead. The link to our previous analysis is below this post, as usual.
It's interesting to note that despite losing momentum, the price could still seek out the $487.61 region, a secondary resistance and previous top that can be seen on the hourly chart:
At the moment, there is no clear sign of a bearish reversal, but we should remain vigilant as the price is finding it difficult to break through the resistance of its Ascending Channel, as evidenced by the purple lines.
A correction down to the 21 EMA is plausible, but if the price loses this support, then we could see NVDA near the support of its channel again.
So, in the short term, it's all about the Ascending Channel, and in which direction there will be a breakout, as well as the 21 EMA. In the medium term, we should focus on the Fibonacci retracements, and the resistance at $487.
I must admit that I would like to see the price at $487 again, since that point has been a personal target for me since the first buy signal at $469: Ignition Bar + above the support of the ascending channel + breaking a pivot point + breaking the 21 ema on the 1h chart = Clear buy signal (to me, at least). However, depending on how the price reacts today, maybe the bullish thesis will be thwarted.
I’ll keep you updated on this, so remember to like this idea, and follow me for more analysis like this.
All the best,
Nathan,
Technical study of this INSANELY powerful bull market!Once again, the indices are rising strongly. While the SPY is heading towards its all-time high, the QQQ and the Dow Jones ETF are already breaking a new all-time record, again. When will we see the market calm down again? What if a top signal appears on the indices?
The SPY ETF is in a clear uptrend, making rising tops and bottoms, breaking its resistances and trading above the 21 EMA (which is pointing upwards, by the way). The next technical resistance is at $479.98, the all-time high.
Are there any signs of a top in the SPY, either from a candlestick pattern or a chart? None that I know of. On December 14th we had an attempt to signal a top, a sort of Hanging Man pattern. The problem is that the pattern wasn't even triggered, as the price had to lose and close below the low of the Hanging Man candle.
This corroborates what was said in my educational analysis on SPY. Many people try to guess the top based on weak technical patterns, they get scared of one or two bearish candles even without confirmation of a correction. The link to our latest public study on SPY is below this post.
Furthermore, according to Thomas Bulkowski's studies, the Hanging Man pattern serves as a bullish continuation pattern 59% of the time, contrary to the popular belief that it is a bearish reversal pattern. Perhaps this is because of the hourly chart.
The vast majority of the time, a Hanging Man only serves as a short-term pullback to a support point. In this case, looking at the hourly chart, we see that after the 14th, highlighted in yellow, we see a correction to a support area, made not only by the 21 EMA, but also by a trend line that connects the bottoms in SPY since December 6th.
As SPY approaches its high, we see QQQ and DIA trading above their previous high of 2021/2022 (green lines). There is no evidence known to me that could trigger a correction yet. The uptrend should continue in the absence of clear signs of a reversal. Remember the sixth principle of Dow Theory: Trends persist until a clear reversal occurs.
What if the indexes correct? Then the price should seek its previous supports. In the case of the SPY and QQQ, the 21 EMA is a good candidate for a bottom. The DIA could correct up to $369.50, its former resistance, which in theory will be a future support, according to the principle of polarity. This scenario describes a pullback, not a reversal, as there is no possible bearish reversal structure on the indices yet – there isn’t even a top signal. What could trigger a bearishh reversal? If a bull trend is made of higher highs/lows, then if we see the price making lower highs/lows, and if it loses the 21 EMA on the daily chart, then we'll know that the trend is reversing.
However, I do agree that if the market calms down, now the timing would be perfect, as the indices are all trading around their all-time high, a critical price level for the market. I’ll keep you updated on this, so remember to support this idea if you liked it, and follow me for more.
Best regards,
Nathan.
BUT WHICH DIRECTION IS THE TREND HEADED?It's not a simple question and REALLY matters ALL of the time, so, finding a simple answer is a neat tool to have in the snuff-toolbox..
Here's the quickest, easiest down-n-dirry method for getting closer to an answer.
If you look at the ranging areas of the chart. The in-between, sideways, messy, wish-it-didn't-exist areas and draw a rough shape tracing the progression, then you'll likely notice either a "U" shape or an "n" shape (not everywhere, but at least one prominent one per section/timescale). You'll know if when you see it. Keep practicing and don't force it.
The U Shape can be reliably trusted to identify a Bullish trend, whilst the n Shape does the same when there's blood about.
Sound silly, right..
But it works.
And now you know..
USDJPY rejected twice from Resistance, to move lowerUSDJPY
price has show rejection from the resistance area twice, and price is attempting to break below ascending channel, if price manages to break below the channel, we can expect the price to move lower.
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*The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
BTC.D ReviewHello everyone, I invite you to check the situation of BTC's dominance over the rest of the market.
Let's start by identifying the main downward trend since 2017, when the percentage share of BTC began to decrease. However, locally we see movement in a strong upward trend.
As we approach a major downtrend, we will unfold the Fib Retracement grid from the recent high and check for potential resistance spots. And here you can immediately see a strong resistance zone from 56% to 60%, which we are approaching and through which the trend line runs, then we have resistance at the level of 66%, and then possible strong resistance at the level of the last peak of 74%.
Looking the other way, we can similarly determine support areas and here we can determine the first visible zone from the level of 51.5% to $49. However, we can still see a return to the area of the second zone from 42% to 39%.
Please pay attention to the CHOP index which indicates that most of the energy has been used, on the RSI indicator we are approaching exceeding the upper limit, which may change the trend, also on the STOCH indicator we remain above the main limit, which may also bring a rebound.
TSLA: A Powerful Turnaround is About to Happen (D & W analysis)!Since our last study, we have observed that TSLA shares are trying to resume the medium-term uptrend by attempting to break through the last top at $246.70. The problem is that the price failed to close above this resistance on the daily chart, so the upward movement failed to materialize. The link to my previous public analysis is below this post, as usual.
On the other hand, the bears failed to take the price below the support at $226.37, the previous top that should act as future support. TSLA shares would only reverse the bullish sentiment if they made a lower bottom than the previous one, breaking through the last support at $226.37.
For now, it looks like the 21 EMA is serving as a very good support point. So, if you ask me, the trend is still up, as the price movement pattern is still one of higher highs/higher lows, trading above the moving average, even if it hasn't officially broken through the last top at $246.70 (and closing above it). And in fact, this is an interesting point, as confirmation of a bottom signal in the vicinity of the 21 EMA could trigger the next bullish rally - and the price is reacting well so far, but there is no confirmation yet. The bearish reversal point would be $226. The weekly chart shows how critical the moment is for TSLA shares:
The price has just hit the resistance of its Descending Channel for the fifth time, and as usual failed to break through it. That's why if the price loses the $226 area, we could see a continuation down to the support line of this channel, well below $200.
But what if the price reacts and breaks through the resistance to the upside? Then we'll have something new, which in my opinion would be a technical turning point that would take the price to the next resistance on the weekly chart, around $300.
There are opportunities in the medium term, but the price needs to react and confirm a breakout of one of its key points, either resistance or support, to confirm a real reversal. I'll keep you updated, so remember to follow me and support this idea if you find it interesting.
Remember, we can't predict the future. Real trading is reactive, not predictive, so let's pay attention to the key points mentioned in this analysis.
Best regards,
Nathan.
GBPUSD to move higher from support area.GBPUSD
The price is currently above support/resistance structure, and price is currently attempting to break above the short-term trendline, If price manages to break above the trendline I expect the price to move higher...
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*The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
TSLA: The Most Important Chart Structures! (D & W charts).TSLA shares are up today, reacting above the 21 EMA seen on the daily chart, which, by the way, is still pointing upwards. What's more, it hasn't managed to lose support at $226, which we nailed in our last public study (the link to my previous TSLA analysis is below this post).
Given the technical evidence described above, TSLA maintains bullish sentiment in the medium term, as it has failed to trigger a bearish reversal structure by losing its key support levels. However, it has not yet broken through the previous top of $246.70 so that it could make a higher high again, resuming the pattern of higher highs/higher lows that makes up an uptrend.
As mentioned above, only if TSLA loses the $226 area would this trigger a bearish technical reversal pattern on the daily chart, as we would see it making a lower low after failing to break through the previous top of $246 - a classic bearish pivot point. For now, the situation seems to be under control. Now let's take a look at the weekly chart:
Here we see why it is so important for TSLA to maintain the bullish sentiment. TSLA’s price is still inside a Descending Channel, which could be part of a huge Bullish Flag pattern, but it must confirm an upwards breakout so it can turn the long-term sentiment bullish again.
TSLA is almost there and if it breaks this channel, it could easily look for the next resistance around $300 again. So far, there is no apparent bearish reaction suggesting a top or a correction to the support line of this channel – in fact, TSLA is finally above the 21 ema on the weekly chart again.
I’ll keep you posted on this, so remember to follow me and support this idea, if you liked it!
Best regards,
Nathan.
SPX: Reached a Resistance After an Insane Rally!The SPX has reached a critical resistance area. As observed on the daily chart above, the index hit the 4,541-resistance line (black line), which was a previous top level from September. This resistance line is quite close to another key point, the 4,567, an open gap since August (yellow line), making this whole area a zone of resistance.
Although the SPX showed some weakness today, there is no sign of a top nearby, and the index would have to make a serious bearish reaction in order to reject the bullish sentiment.
In my opinion, as the index has just hit a resistance area after a relentless rally since October 30 (last bottom), a pullback would be healthy. In this scenario, I see it seeking the gap below the price around 4,421, near the 21 ema. However, it must make a decent top signal to convince me that it will correct.
What if the SPX breaks its resistance area?
In theory, it would resume the bull trend seen on the weekly chart. Its next technical resistance is the 4,607, and above this key point, we see the all-time high at 4,818, near the purple trend line that connects the tops of its Ascending Channel (which is another bullish chart structure).
Therefore, given the multiple chart structures observed in this analysis, we conclude that the SPX is in a mid/long-term uptrend, however, a mid-term pullback would be acceptable now, as it just reached a critical resistance area – the only thing missing is a clear top signal.
Keep in mind that, statistically speaking, November is the greenest month, with an average return of 1.71% (since 1950). December is another good month for stocks, going up 1.50%, on average, and it ends up being a positive month 75% of the time. I’ll keep you updated on this, so remember to follow me if you liked the content.
All the best,
Nathan.
EURUSD is preparing for a 230+ pips bullish move after breakout.EURUSD
The price is currently above support/resistance structure, and price is currently attempting to break above the short-term trendline, If price manages to break above the trendline I expect the price to move higher...
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*The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
ETH to USDT chart analysis on a 4H intervalHello everyone, I invite you to a detailed review of the ETH pair to USDT chart, also on a four-hour interval. First, we will use the blue lines to mark the upward trend channel in which the price has dynamically moved upwards, moving along the local upward trend line, from which it has currently broken downwards. And here we will again define the current downtrend channel, where we have approached the lower border of the channel, using blue lines.
Now let's move on to marking the support places. We will use Fib Retracement tools to mark the supports, and as you can see, the price is fighting in the support zone from $1,939 to $1,895, if it comes out of it and breaks out of the channel, then we have support at $1,829 and then around $1,745.
Looking the other way, we can similarly mark places where the price should encounter resistance on the way up. And here the first resistance is at $1996, then we have the second resistance at $2048, and then the price must face a very strong resistance zone from $2088 to $2136.
When we turn on EMA Cross 10 and 30, we can notice the place where the indicator showed a return to the local downtrend in which we are currently staying.
The CHOP index indicates that there is energy for a continuation of the move, the RSI indicator shows that we are in a downward trend, with room for the price to go lower, but at this point it is worth looking at the STOCH indicator, which has clearly exceeded the lower limit, which may result in a slowdown in the correction and give an upward movement.
BITCOIN to continue Bullish move after correctionBTCUSD
The price made a strong bullish break above the Daily Resistance area around $30,000-31,000, and price is currently above support/resistance structure, after a correction towards the previous resistance turned support area if price holds above the support I expect the price to move higher...
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*The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
AUDCAD made a Bullish breakout, 400 pips long setupAUDCAD
price made a bullish breakout of the narrow structure , if price continues to holds above the trendline, price will rise towards next resistance
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*The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
AUDCHF broke above triangle, to continue bullishAUDCHF
price broke above triangle structure. after a correction if price continues to hold above support I expect the price to move higher towards the next resistance..
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*The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
Lets make a BottomBounceIndicator today=Step by step annotated=
Today, I am going to try something different. Let's make a Bottom Bounce Indicator. What is a bottom bounce? Bottom Bounce is a move I saw when analyzing a massive drop. The move caught my eye and has become a staple in how I find and catch a falling Knife. I have my weaknesses and demons just like anyone else. I am severely impatient and extremely an emotional creature by nature.
**Fun Fact**
There are two (technically three if you combine them and care about people in general) but for our purposes there are two ways to make a decision in life.
Logical: Everyone has done this before:
You want to buy a new car(substitute with whatever gets the juices flowing).
You go online, you do your research and you come up with these things that are going to be absolute in your buying decision:
Year, Make , Model of vehicle you want
Color, style, package, interior
Must have features as an absolute! Like Sunroof
Dealership you will purchase from (normally closets one because people are lazy and like getting taken advantage of)
Price you will pay.(if they knew the invoice it would be that because people don't need to make profits on things that cost $20k+) “oh, you guys will make it back on someone else” (Because everyone believes they are that one person that is above everyone else and deserves things for free) I=(
Trade value you won't take a penny less for. (because for some reason everyone believes their car is in Great Condition and showcase ready)
Bank they will get their money from or Cash they have to spend(Usually if its cash it's some absurd perfect trade and absolute negative deal that makes the amount of money they have just right.) ;: )
Interest rate they will get
Amount of money they will put down
Years they will finance
**I think that covers most of it*** (boy im really going deep into this scenario….)
Here is where reality sets in…
You show up to the dealership and you tell the sales person you are just looking around. (Because you love being tortured by salesmen and you felt, “ hey I don’t get much free time let's go to the dealership and be harassed by salesman” (sounds about right) Finally, you grace the salesman with the right to show you a vehicle.
You tell them everything above about the car you want.
2024 Lexus RC350 f package White with Red interior $54,072 +++
Emotional Decision:
While on your much deserved test drive you start to take ownership of this finely crafted out of the most premium of premium hand stitched leather seats and steering wheel, wait what's that the shifter also has the same leather on it. And look at that dash it moves when I start the car! Push button Start, and the LEDS! Sunroof, Navi, Surround Sound, and OMG the seats are like Hugging me!
Who cares about Covid and being isolated from people when I can be hugged by this seat! Heated and AC, WHAT! Of course my Honda has it but not like this!
The steering wheel doesn’t even shake at like 100 mph, ok the salesman is scared….let me get a hold of myself.
Trade Details:
Trade: 2020 Honda Accord EXL Black with gray interior
55k miles regular maintenance (obvs right before the major 60k mile checkup)
tires have been changed once.
No Wrecks one owner. New was around $32-34k
4 years old 15k miles ish/yr
The decision:
Location: Local Lexus Dealership inside sitting down looking at numbers…
The mood: Serious
During the test drive you:
Fell in love hard for the vehicle
Fun fact: you can't see the outside from the inside.
Lexus doesn't make cheap interiors so it doesn't matter the color as it looks way better than the “Cord”.
While Driving you started thinking:
You know I got that bonus and haven’t touched it, I could put that down as well.
I mean I could pay another $100 a month for this.
I didn’t think I would like the Blue but I actually love it!
Black is so hot but really they are all hot! As far as interiors go.
If I could finance this through them, maybe I’ll get a rebate or something and then just refinance it with my bank so I don't have to wait and I can drive home today!
Emotional Decisions: replace all logic and throw it out the window, think of it like an extremely efficient Moving company with a crew of like 15 jacked dudes and pull up in an envoy that is reminiscent of a Military Convoy. And literally toss everything you have out the door and windows and load up, take off in less than 15 mins.
Then what happens next is they bring in the Decor team which is made up of like every reality show Fix it and ditch it Home Renovation Show put together and within the next 5 mins they fill your home full of new IDEAS! YAY!
Back at negotiations:
You stand Firm and You tell him with a serious VOICE that you will buy it for 84 months $ 690 with $5k down and that you will take $18k for your trade and not a penny less!
Finance through them for the rebate but really so you can drive home today. Interest Rate: 7.99%
All for the Vehicle you test drove:
2024 Lexus RC350 f package Blue with black interior $53,761++
After a few hours you finally walk out to see your brand New Car and get handed the 3 C’s =
See your Car
See your Keys
See you Later!
And that my friends is how emotion will destroy your logic every time!
By iCantw84it
10.30.23
In 2 days its my bday give me a Bday Gift I love Boosts! Plus they are free, if you found this somewhat entertaining, and educational pls like follow and BOOST! Thanks!
*** btw if you want to know the 3rd way just shoot me a message and a
*** btw if you want to know the 3rd way just shoot me a message and I’ll let you know.
LTC/USDT 4HInterval ReviewHello everyone, I invite you to review the chart of LTC in pair with USDT, on a four-hour interval. First, we will use the yellow line to mark the downward trend lines from which the price has gone up, while locally we can see that we are moving in a sideways trend channel.
Moving forward, we can move on to marking support areas when we return to the correction. And here you can see that the lower border of the channel is also a support zone lasting from $63.28 to $61.97, but when we fall lower, we still have support at $60.10, and then support at $57.69.
Looking the other way, we see that the price has reached an important resistance zone from $65.71 to $67.91, which it does not have the strength to break yet. However, if we manage to break out of this zone and the upper border of the channel, we still have strong resistance at $70.69.
Please look at the CHOP index, which indicates that we have a lot of energy for the upcoming move. On the STOCH indicator, we are exceeding the upper limit, which may end the current upward movement and translate into a price recovery, while on the RSI indicator, there is still room for the price to grow.
NZDCAD's 2:1 Reward To Risk Trade IdeaThis is bullish potential on NZDCAD.
12 hour timeframe is bullish. A new high was made on Friday.
Price can go higher overnight. If it does
we can adjust the take profit.
Stop loss and entry will stay the same.
Stop loss and entry are noted as
Entry: 0.80362
Stop loss: 079827
TP: back up to highs unless price creates new fluctuation in price action.
You can move stop loss lower if you prefer more room for the trade to breathe.
Belief: For God did not give me a spirit of fear, but of power, love, and a sound mind.
Rather this trade wins or losses, I pray God for the opportunity.
If you enjoy this takeaway please like this analysis and share it.
ETC/USDT 4HInterval ReviewI invite you to review the ETC to USDT chart. First, we will mark the downward trend lines with a yellow line, below which the price moves. As you can see, the exit from this line was not maintained. At this point, the blue ema crosses the 200 line, which pushed the price back into a downtrend.
Moving forward, we can move on to marking out areas of support as we begin a larger correction. And here we have a visible support zone from $15.36 to $14.92, then we have support at $14.30, and then support at $13.50.
Looking the other way, we see that the price has fallen through the resistance zone from $15.81 to $16.41, then we have resistance at $16.60, and then resistance at $17.21.
Please look at the CHOP index, which indicates that the energy of the downward movement has been exhausted, the RSI is recovering but there is room for the price to fall, while the STOCH index has also rebounded but there is still room to fall.
NZDUSD: KIWI is oversold and will riseHello traders,
Long-term bearish channel bottom line is a sign of oversold
The bearish trend-line is broken
There is one entry and three TPs for this pair.
New Zealand GDP announcement could effect the markets bias.
Levels calculated order_block, regarding support and resistances, channel and pivot points.
The JXY: Will It Continue to Rise?My first analysis about the JXY. It will be done periodically from now on to keep a fresh perspective over one of the most important currencies in the world.
The Japanese Currency Index (JXY) is a stock market index that measures the performance of the Japanese yen against a basket of six other major currencies: the US dollar, the euro, the British pound, the Swiss franc, the Canadian dollar, and the Australian dollar. The JXY is calculated by weighting the currencies in the basket according to their relative importance to the Japanese economy.
Technical Analysis
On the 30-minute chart, the JXY is currently trading around its 50-day moving average (MA) and its 200-day MA. This suggests that the index will most likely reverse the trend on this smaller timeframe soon. However, the JXY is also facing resistance at its 50-day MA. If the JXY cannot break through this resistance level, it could fall back to its 200-day MA.
On the 4-hour chart, the JXY is also trading around its 50-day MA and its 200-day MA. However, the JXY is also facing resistance at its 50-day MA. If the JXY cannot break through this resistance level, it could fall back to its 200-day MA.
Fundamental Analysis
The Japanese economy is the third-largest in the world, but it has been struggling in recent years due to a number of factors, including an aging population and a declining birth rate. The Japanese government has implemented a number of policies to stimulate the economy, but these have not been successful in boosting growth.
The Bank of Japan has also taken steps to support the economy by keeping interest rates low. However, this has led to a weakening of the Japanese yen. The JXY has fallen by over 20% against the US dollar in the past year.
I hope this post is helpful.
This analysis represents my thoughts at the date it is posted.
This analysis does not represent professional and/or financial advice.
You alone assume the sole responsibility of evaluating the merits and risks associated with the use of any information or other content found on this profile before making any decisions based on such information.
BTC/USDT 4HInterval Review ChartHello everyone, I invite you to check the current situation on BTC in the USDT pair, taking into account the four-hour interval. First of all, we will mark the side trend channel with blue lines, in which, as we can see, the price tried to go up, but quickly returned to the channel and currently the attempt to leave the channel down also ended with the price quickly returning to the side trend channel.
When we turn on EMA Cross 200, we see that the price is still in a downward trend under this line, but an upside exit from EMA Cross 200 may result in an upside exit from the channel and a return to the uptrend.
Now we can move on to marking support areas in the event of a correction. For this purpose, we will use the Trend Based Fib Extension tool and we can see that first we have a support zone from $25,760 to $25,287, then we have a second zone which has kept the price from falling further from $24,901 to $24,515 for now.
Looking the other way, we can determine resistance areas in a similar way. First, we will mark the resistance zone from $26,093 to $26,466, when it is overcome, we have resistance at the level of $26,839, which is located at the upper border of the side trend channel, and when it is overcome, we have a second zone from $27,365 to $28,037, only when the price tests it positively, it will be able to go up further.
Please pay attention to the CHOP index which indicates that the energy for growth is slightly increasing, on the RSI we are moving in the upper part, which may result in a slight recovery, while the STOCH indicator also indicates that the energy for growth is running out, which may result in a slight price recovery.