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ETH macro trend looks to be a repeat of last pump and dump While looking at ETH on trading view with the time length on all it shows an eerie resemblance between our current price and the one shown in the chart. The two points that I am talking about are the highlighted circled areas. In my opinion it seems as if we are on the edge of a giant cliff and according to trends and overall macro economic weakness due to inflation it seems highly likely that ETH may fall off the edge of the cliff. This is my personal stance at the moment although for the past few years I had my head in the sand and blind fully thought that ETH would continue further up to 7 k when it hit its all time high at $4,900 in November of 2021. I did not sell. I couldn't sell. I had almost half of my ETH holdings staked and locked away. I initially got into ETH at $1700. I rode the wave to $4900 all the time buying more. I then saw the wave crash to $800. It has since recovered to $2000 to come back down to current prices of about $1530 at this time of writing on Tuesday august 30th at 1 pm. There is another test on the 6th of September before the long awaited merge to ETH 2.0. While the merge may be one of the biggest engineering accomplishment's of all time I do expect the price to fall upon merging. My reasoning for this is because the merge is only one of many merges and the overall ETH ecosystem is still in it's infant years so to speak. This merge to eth 2.0 will not immediately reduce transaction fees known as gas fees. Eth will still be slow and expensive. But nevertheless, the merge, if done successfully will pave the way for ETH to grow into it's pants and become a several trillion dollar business that will reward share holders with a generous 4-6 % yield on their investment. It will only take time. Be patient and good luck in your investing/trading!
BITSTAMP:ETHUSDShort
by josephlotta15
2
Is the S&P 500 DOWNTREND OVER? The price is moving according to my last analysis on July 29th of the S&P 500 Futures. The market is taking a breath from last week, yesterday it closed more or less at that support area of $4100. We still have some important earnings incoming, I stick with my point that we can use the momentum to get to $4200 or even higher. However, in order to break this DOWNTREND, we need to get above $4500 and maintain. I'm not going to spend time talking about breaking the resistance of $4500 , as I see it extremely unlikely to happen. During the next few days, the market can decline till $3950 support , in order to get some volume and make new higher highs around $4200 . The economic environment is bearish for the stock market, unless the FED decides to decrease interest rates and start printing again, avoiding fighting inflation, destroying the currency as a result. The scenario that I think is going to happen is that we will continue the downtrend that started in the beginning of the year 2022. From my humble opinion, this was just one more rally in a bear market, maybe a bull trap that can last a few weeks more. I see the market between a range of $2800-$3500 till the end of the year, unless something big happens and reverses the downtrend. Honestly, I think they are just trying to keep the market up the longer they can, in order to sell their balance sheet at higher prices, starting from September. This thing can reverse in every moment, or it could continue to be bullish the next trading sessions. Better wait to trade to the downside till some clear reversal appears . Good luck with your investments. Earnings Releases to keep an eye on: - Marathon Petroleum (MPC), Occidental (OXY), BP (BP) - AMD (AMD) - Starbucks (SBUX) - Caterpillar (CAT) - PayPal (PYPL) - Gilead (GILD) - Airbnb (ABNB) - Marriott (MAR) - Uber (UBER) - Electronic Arts (EA) - Waste Connections (WCN) - Illinois Tool Works (ITW) - Cummins (CMI) - IDEXX (IDXX)
CME_MINI:ES1!Short
by GenadiYankov
8
Trends going into 7/11/2022 and Data to WatchThe 1-Hour Trend Flipped from it's previous Uptrend to a downtrend overnight. That prior uptrend definitely served its purpose and it was only a matter of time. With that said, we are beginning to see that low volume and relatively weak up push of last week finally fade out and that bearish double top begin to show it is coming to bring direction to the market. Don't expect a sudden plummet quite yet though, as we have 3 decent timeframe trends all circling the wagons and ready to show they aren't over yet. This is evident as the 1-Hour Downtrend signaled, it touched the 4-Hour Uptrend level and immediately got pushed back. As of writing this the 1-Hour has failed to close below it's signal level. The 2-Hour, 3-Hour, and 4-Hour Uptrends are within a 4 point range. I'd expect some decent resistant getting through and staying through all 3 of those. HOWEVER, if we do push lower, look for the candlesticks to CLOSE below the respective timeframe trends signal area. If price is able to push below those numbers, there is no uptrend signal left to stop a further move to the downside unless a small push upward flips the 30m Downtrend to and Uptrend signal. However, that 30m downtrend signal is relatively fresh and it would take a nice size dip down and then big movement up to create that. Any chance for this price moving further up is going to first require a 6-hour candlestick to close above 3896, and then a real push up is going to need a 12-Hour candlestick to close above 3927. The upward price action definitely seems to have fizzled out around the 6-Hour Uptrend signal, at least for now. So, overview, Downtrends as of the morning of 7/11/2022 are; D, W, 30m, 1-Hour Uptrends are; 12h, 6h, 4h, 3h, 2h Price seems to be stuck between the 6-Hour Uptrend of 3896, and the 1-Hour Downtrend of 3868, using the 30m level as a support and resistance line as it passes through and closes on either side. As for Economic Data; So, without a doubt CPI data will be huge this week as we find out about inflation. However, in checking into earnings reports for the week, Earnings season is clearly ramping up with 16 companies reporting. Of most importance, Pepsi has a BTO Earnings on the 12th, JP Morgan and Morgan Stanley have BTO Earnings on the 14th, United Health and Wells Fargo have reports BTO on 15th. These earnings may end up causing a bigger fluctuation in price action than the CPI. While inflation is important, expected earnings is really what makes investors (outside of Day & Swing Traders) purchase individual stocks. There is some belief that forecasters are aware that companies will miss on earnings forecasts, but that they don't want to adjust it now, because it will create a tumble down the hill. If they update it this close to Earnings, then investors will lose confidence, those companies will appear to be failing, and consumers will ultimately feel less confident with their respective services, thus causing additional missed earnings, then still missing earnings forecasts, and causing a second dip in valuation. Many investors are going to be watching to see if a lot of companies come up short, and if they do, they will lose confidence in other companies within the same sectors, if not earnings in general because it may begin to prove the theory of incorrect earnings forecasts correct. That may be the catalyst that drives us to new lows, and then I'd expect the market to begin to price in a possible inflation or at least low expectations until September. So overall, I'd expect some whipsaw movement today between the 6-Hour and 1-Hour marks to start the week, though I think we are likely to see things go slightly lower. Overall, there is some belief that price could go up close to 4000 before a plummet, so those pending bears are still looking for long positions as bulls until then. The beauty of trading off trends is you don't have to predict the market, you get to react to the market. Overall, my sentiment is remaining bearish, and I'd estimate a 65% we end lower today by EOD. Remember always, your risk management plan is the most important part of your trading strategy! Disclaimer - This is not Official Investment or Financial Advice
CME_MINI:ES1!Short
by SemperTrader
Trends, Triangles, and a Pending Price BattleTrends had some minor changes from the overnight movement. I explained that there is an upcoming Bull / Bear Battleground taking shape. Price is coming under pressure and ultimately something is going to give. I still give a 60/40 bearish sentiment, but again, I trade off of the mathematical equation of trends, and NOT off my opinion. Today I go over the trends and then I explain Right Angle Triangles and show to two major converging triangles (or perhaps one of them is a false triangle and doesn't exist?!?!) or, on a more fundamental level, the psychological aspect of human behavior in the market place and two price directions meeting together. In reviewing my own video, just to put some clarification... usually I feel the price has to move into an Apex. If the downsloping triangle wins this price action, I see the price movement going to at least the previous lows, although that could stay the base of that triangle and it doesn't HAVE to go even lower. It is possible that upsloping triangle is a false triangle and is just being spotted because it is part of the downsloping triangle. This is why I always caution on using anything to predict the market, you never get to fully know what was real, and what wasn't, until after the fact. Hope you enjoy! Remember your Risk Management Plan is the most important part of your trading strategy. If you've been finding my assessments helpful, it would be great to hear some feedback in any way. I enjoy doing these because it makes me really pay attention early in the day so I don't get sloppy in my analysis as I go into my trading day. As always, this is not official financial or investment advice, and all liability is on you for your investment decisions.
CME_MINI:ES1!Short
by SemperTrader
Understanding the Story of a Currency Pair When trading price action, it's crucial that you understand the story of the currency pair you are trading.For what current price is doing is only valuable in the overall context of what a currency pair has been doing.Just like reading a book or watching a movie, watching it from the half-way point won't allow you to understand what's happening; for current dialogue only has meaning with a context.So here's 2 things you can do to know the story of a currency pair: 1.) Analyze new price everyday to build the story. Ask yourself, " is current price confirming your perspective of the direction of a currency pair?Or is current price showing signs of a changing story? 2.) Use multiple time frames.The higher and lower time frame's stories should compliment eachother.Ask yourself " is current price on the lower time frames confirming the story on the higher time frames?" Moreover, understanding the story of a currency pair gives the trader an understanding of the tendancies of that pair.Each pair has very different characteristics.Just like how a music composer has tendancies when composing music.Each pair has identifiable, or rather, "trademark" tendancies.For example, the Eur/Usd pair tends to be very accurate in terms of price levels.So if there's a well repected trendline and you expect price to bounce off of it, it will do so with accuracy right down to the last decimal.Moreover the Gbp/Usd tends to have many pullbacks before an extended move in a direction takes off.Having this knowledge allows for great position building as well as the understanding that there are further opportunities to enter a trade even if you missed the initial entry. In this way, understanding the story of a currency pair and keeping this story up to date, gives a trader a general sense of "unison" with that pair.Allowing them to notice slight changes in the over-arching trend and therefore have the ability to be one step ahead of the market at all times. That's it! I hope this helps! Have a great day guys! Ken
Education
by TradingForexPriceAction
4
WILL BUYING BTTC DUMP $TO0.00000098 BE WORTH IT BY 2025?Looking at the Daily chart we see a mini short term pause in the form of a sideways price move Could this be a pause before a continuation of the current dump or a pause before a complete change in direction? Bitcoin Is not called the king of all crypto for no reason as we see all altcoins react to each down move by bitcoin no matter how far the token has moved before the BTC reaction. I do see that according to the BTC chart below, BTC buyers could for a pull up if they succeeded in holding up the support above 26800 if the bull force and buy power holds up till 30k then altcoins including BTTC stand the chance to recover to 0.00000188 My Conclusions: Buying More Bittorrent Chain Token at the current price of 0.00000098 will see a good over 300% till the end of 2022 but do know that the dump is not over as they will likely return down for more dump before the major pump will begin in late 2024.
by MachiavelliTrader
1
Bitcoin saved by 29k support yet again!Good Evening Traders, I am back after TV banned me for a week. Apparently, I broke house rules by referencing a site I maintain outside of TV. Anyways, I had put out the following post to all my other SM sites this morning and it is still valid. ----- I put out a potential short trade opportunity on BTC yesterday if we dropped below the 29k mark and confirmed on the 4hr. We dropped below 29k but we did NOT get confirmation! Therefore, no trades should have been executed. Now, the priority now shifts upwards. You can see resistance overhead with the 50 candle m.a. (now conquered), 30k resistance (now conquered), and the top of our adjusted triangle (adjusted due to recent price action). If we fail to break the upside of this triangle drawn on our 4hr chart, the priority shifts downwards once again. Watch closely. As always, almost all trades in the crypto space should hinge upon BTC price action and trajectory. -Stewdam.us
INDEX:BTCUSD
by stewdamus
1
Bitcoin Buyers initiating Bull battalions to Hold $26k to $30k?The Bitcoin Price dump was a shock to some, the experience foretells a nightmare many are still trying to wake up from. We did warn of this dump as anticipated in this post here I do see this BTC price fall as an opportunity to invest in BTC at a cheaper price if you missed buying below $20k. The big question now is, Is the Big Dump over? Answer: NO! Is the current price range $26500 to $30k bitcoin trading at a good price to buy some BTC? OR are there high chances there could be more threat from the bear's battalion army to still push to the 20k range? Answer: The chances of the weekly and monthly sellers reacting to the 28k broken support are high as they did hold it twice in the past but broken support also tells a story of weakness from the bulls which only means that even if they manage to survive it and bounce above 40k we will face a bigger rejection before somewhere from around 50k to 64k range(too much resistance around lays within the price range) but before we start judging a book by its coverlets look deeper into the charts and FIND OUT TOGETHER! Short Term Look at BTC BULL/BEAR Battleground. From the 4hrs chart Bitcoin Chart, We see a mini short term Head and Shoulders Forming that could force a push back to target the head height of the H & S in the image below The Image shows quick possible sellers shorting BTC back to 26800 one more time. The sell-off could stop at that 26800 or 26200 but if it proceeds to go further below it can only mean that bears the force of the weekly and monthly chart are still in action and they seek blooooooooood so they wannnnnt 20k to 18k( but wait, Whaatt? don't worry we will talk more about this) I see this mini bearish pattern forming on 4hrs could be a threat to rush hour buyers who were impatient and already jumped in buying the dip? Well, By BTC Breaking the neckline currently forming at 28600 only assures sellers of the H & S playing out. NOTE that H & S succeed 75% of the time meaning failure of this pattern is possible by 25% so what could the failure look like? so if the sellers fail to break the H & S neckline then this will only force buyers to retaliate a sharp shoot to $34k But could that be a bigger rejection or the beginning of a recovery phase? Why the bulls will retaliate? if the 28600 to 26800 fails to break( strong support twice saving the buyers to recover from the dump in the past from the image below) This failure will cause a forceful change of direction and the bulls could continue the move to head to 34k The above chart (1Daily BTC Chart), shows a total possible outcome. Looking into the battlefield on BTC daily chart, it shows the bulls could be hiding at the current support. I say this because there is a big consolidation ongoing on the daily chart and from my experience, consolidations don't break easily meaning that invisible forces always pull price back into the consolidation and consolidations also refer to equilibrium between sellers and buyers on the daily chart. Because of this force, I do see Bitcoin Buyers initiating battalions of the bull army to hold down the current support, they will create a mini sideways on a lower timeframe by allowing the sellers to force a retest of the current support(expect more leg down to form a higher low on the 4hrs chart around 26800 range. This will Begin the bulls journey to $52k These are the important prices that will determine BTC price next direction after this current mini price pause For more selloff to continue price needs to go below 26k FOr more Buy power recovery to begin price must hold above 26600 Buyers Targets: Entry FOr Possible long 28200 and 26800 Stoploss at 26120 Think about the image below, This is Bitcoin Gorilla BTC Prediction overview till 2025 after BTC halving
by MachiavelliTrader
Most Recent Powell Appearances & PA Hello Traders, -----------> (see picture below for better view) <---------- I just wanted to take a look with you on how Powell Appearances or Fed Minutes & Press conferences have affected price action. Above is a quick look at that and a very near-term prediction of SPY. Of course, Powell is a very well spoken man, and he chooses his words very carefully. He said exactly what was expected and exactly what the markets wanted to hear, hence the rally. However, when do we move past the idea that the rallies will be followed by drops in the days following? Are we there? Are we almost there? No way to really know. Even with a strong ear to the pulse of the markets and every analysis you can think of, it can be difficult to time the markets. Luckily there are tools like you see on my chart that can help to stay consistent even when you aren't entirely sure when we've hit bottom or when the rally rug will pull. Not all technical tools are the same and there isn't a holy grail per se; but some tools of the trade are much sharper than others. For example, some tools may help you catch tops and bottoms really well when combined with a strategy. How have you been doing-- are you Consistent-- are you Confident in your trades-- do you stick to your Strategy and Stop-loss? Never stop sharpening your sword. As retail traders, we must be constantly evolving and sharpening our toolbox to compete against the institutions and whales out there. Happy trading. Cheers, Mike L. (UPRIGHT Trading) The Powell Catalyst
AMEX:SPY
by UPRIGHTTrading
Gold, close to confirming new leg lower?Things have taken a turn back to safe havens with heavy selling resuming into today’s European session. After a small push at a fightback, the floodgates reopened. Stock indices and Crypto markets have been the heaviest hit, with some coins dropping over 11% lower. Sellers haven’t overlooked Gold as sellers moved back into the yellow metal knocking back below 1862. We see a little bit on-demand around this area, but this may not offer much resistance if this level of selling continues. For now, price looks to have confirmed a LH, but will we see a new LL continuing the current trend with a new point of normal trend behaviour. Furthermore, a move below the trendline would also be a sign that the current fast downtrend controls the market. A lot will come down to USD demand and continued exit from risk assets as US recession fears continue.
OANDA:XAUUSDShort
by Eightcap
4H USDJPY buyers setting sights on resistance retest? Hi, trading view community. Looking at the $/J, the current 4-hour uptrend continues to trade above the range high, but the real test for us is above at 131.00. Price looks to be struggling at this stage close to the European open. If we did see a new move back to and above 131.00, you would think that buyer momentum is back on track, and the current trend has further to run. Today’s US employment figure could be a make or break after a very choppy two days of trade for the USD. Good trading
Long
by Eightcap
Market Unpredictability This is a perfect example of the market sometimes not going your way. I shorted on the first bearish flag thinking of course that this is one of the strongest indicators of market direction and I got burned (lost a little money). My mistake: Not looking for other signals. In this case the 20ema crossed over 50ema sending the price up. Sometimes you have to look at more than 1 indicator or pattern, this isn't always the case but it is better to have 2 signals than one. The second time both the indicator and chart pattern aligned perfectly together and as a result the market dropped as expected. I want to be clear that you should never jump back in so fast in a trade, personally after a loosing trade I step back for a day or two or trade another pair. But in this case the analysis was strong and it led me to some profits. The market is always going to do what it wants, all we can do is analyze, prepare our risk management and execute.
by Tradingday22
4