Are we here or there?CRYPTOCAP:BTC is looking very strong on the weekly however we are early in the cycle.
Some simple ideas here.
0.618 retrace level is broken pre halving which is a surprise that would have caused many to be sidelined. I think it is unlikely the market will let them back in anytime soon especially given the strong ETF inflows.
Ongoing the trend will be Up when trad-fi markets are open, sideways when they are closed until the inflows decrease.
Spot is driving the markets so open interest and funding rates become less important. Any pullbacks will be mostly on weekends and short-lived to wash out overleveraged longs and provide liquidity on the buy side for the big funds.
Very bullish until I see a strong signal to oppose this. Things to keep an eye on is an influx of retail froth, a rotation to alts, Strong macro/tradfi headwinds and the usual suite of on-chain tools i'e whales selling, LTH taking profit at high levels.
This cycle as we have only seen retraces of %20ish o far it hasn't really be worth trying to time pullbacks in my eyes unlike previous cycles where they were often %40-%50. This gives further credence to the bullish narrative.
Hold on, enjoy the ride, set targets and take profits when you start feeling emotional.
Trendtrading
Cleanspark: Powering the Future of Bitcoin MiningBitcoin is making major moves as we get closer to the Bitcoin halving. NASDAQ:CLSK is poised to benefit from this bullish momentum. We just crossed a major resistance level at $13 & Targeting the next major resistance at $40
Cleanspark recently reported a remarkable 165% year-over-year revenue growth in Q1 of FY2024. This impressive growth is a testament to the company's ability to capitalize on the growing demand for Bitcoin mining services. With a net income of $25.9 million and an adjusted EBITDA of $69.1 million, the company is well-positioned to continue its upward trajectory.
This is one of the best risk reward plays in the CRYPTOCAP:BTC mining companies. All aboard for the ride #LetsGo
Possible SS Trade (Short/Sell Swing)All but 2 confluences align
2 confluence that hasn't aligned yet:
1. Fundamentals
2. Rejections
Compare with your own analysis.
This is a trade idea, not trading advice so please do your own due diligence before considering taking this or rather, wait for the 2 missing confluences.
GBPUSD Trading Plan: Bearish Deep Gartley PatternLet's discuss the trading plan for GBPUSD, and it revolves around the recognition of a Bearish Deep Gartley Pattern.
This pattern, once confirmed, provides an optimal setup for a shorting opportunity. Here's the breakdown:
1. Trading Setup: Bearish Deep Gartley Pattern.
2. Price Reversal Zone (PRZ): Awaiting confirmation at 1.2725.
Once the PRZ is confirmed, signaling the completion of the Bearish Deep Gartley Pattern, it opens up a potential shorting opportunity.
Feel free to share your thoughts and engage in a discussion on this trade plan.
EURUSD Trading Plan: Bearish Shark Pattern on 4-Hourly ChartLet's delve into the EURUSD trading plan for the upcoming period.
The weekly chart suggests a weaker bull trading setup, signalling a bullish trend with some weakening.
However, the four-hour chart paints a different picture, displaying a bearish trend.
Here's the comprehensive trading plan:
1. Weekly Chart: Indicates a weaker bull trend.
2. 4-Hour Chart: A Bearish Shark Pattern is anticipated to complete within the sell zone at 1.0874, presenting a potential shorting opportunity.
Given the bearish trend identified on the four-hour chart, the focus will be on the Bearish Shark Pattern for a potential short trade.
Share your thoughts and insights on this trade plan!
AUDCAD IS ON MAIN RESISTANCE..Hello traders i hope every one having a great profitable week...
AUDCAD is on main resistance on daily and on weekly price on last high that's make this resistance more value able. price also break trend continuation trendline on daily and price also showing sign of sell on lower time frame..
WHAT YOU THINK ABOUT THIS PAIR LET ME KNOW IN COMMENT..
.. good luck..
Bajaj Finance at Very Long Term SupportThe market leader has corrected to fall at long term trendline support.
Keep this in the list to be studied.
Note: This, like all other posts, is not a buy/sell call. It aims at spreading awareness and anybody making a financial commitment has himself/herself to credit for gains and blame for losses involved.
#BajajFinance #BAJFINANCE #NSE #nseindia # bseindia
Massive bullish patternsWe can see here a huge inverted HS and a double bottom (blue arrows) forming. I thinks all of this is going to push up very hard and break out the resistance from 08/2021. I'll wait for a pull back to buy, right now is too close to the resistance. Every time it pulls back to the trendline I'll add.
MANA has formed a double bottom, after the pullback will go upMANA has formed a double bottom, after the pullback will go up, It has been making HH and HL
Entry Zone 0.4687 - 0.4740
SL 0.4643
TP1 0.5017
TP2 0.5485
Risk Warning
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AUD/USD - lets ride the sell trendHello everyone ...
if price break our entry areas then this idea will be invalid..
Use good trade management only thing important in Trading is how you manage your trade...
our signals are 95% accurate give us follow and motivate us by likes and comments...
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XAUUSD 100% CONFIRM ANALYSISDiscover an enticing Selling opportunity in GOLD as it undergoes a critical retest of a key resistance area. With market analysis, technical indicators, and price action as your allies, evaluate the potential downside move. Stay vigilant and informed to capitalize on this precious metal's market dynamics.
Tesla Faces Market Turbulence in 2024 Despite Record RevenueTesla's financial performance in 2023, with a revenue of $97 billion, has been a key focus for investors. However, 2024 has brought challenges, notably impacting its market position. In January 2024, Tesla's shares saw a significant 24% drop, primarily due to expected weaker sales growth, wiping out about $80 billion in market value.
The release of Tesla's Q4 earnings on January 24 further intensified these challenges. Earnings per share were reported at $0.71, below the expected $0.74, leading to an 8% drop in stock price and a fall below the $200 mark, a level last seen in May 2023.
Since the Q4 report, Tesla's stock has struggled to surpass the $200 threshold, which now acts as a psychological barrier. The persistence of this resistance level suggests a cautious outlook for Tesla's stock, with potential for further declines if it fails to break through this barrier.
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The Bullish Case for Palantir Technologies ($PLTR)NYSE:PLTR is in a strong bullish momentum and breaking resistance levels. This is the year it will test and breaks its previous all time highs.
Strong Revenue Growth: Palantir Technologies has shown impressive revenue growth in recent years. In 2023, the company's revenue increased by 17% year-over-year to $558 million in Q3. This growth can be attributed to the company's expanding customer base, which now includes major clients like the National Health Service in England.
AI Integration: Palantir has been integrating artificial intelligence (AI) into its analytics platform, which has been a game-changer for the company. This has allowed Palantir to offer more value to its clients and has contributed to its revenue growth.
Government Contracts: Palantir has a long history of securing lucrative government contracts, and this trend is expected to continue. In 2023, the company was awarded a $414 million data-communication platform contract with England's National Health Service. This demonstrates the company's ability to secure large deals and maintain strong relationships with government clients.
The Bullish Case for Snap Inc. (SNAP)NYSE:SNAP has earnings today and a GAP to fill from May 2023.
Additionally, SNAPs price action has built a minor consolidation channel the past 2 months.
Will we see some strong movement to the upside???
The Longterm Bullish Case for Snap Inc. ( NYSE:SNAP )
Despite facing strong competition from other social media giants, Snapchat has managed to maintain a loyal user base and continues to innovate its platform to attract new users. Here are some key points that support a bullish thesis for SNAP:
Snapchat has a large and growing user base, with over 347 million daily active users as of Q3 2023. The platform's unique features, such as disappearing messages and AR filters, have helped it maintain a strong presence among younger demographics.
Improved monetization: In recent years, Snap has made significant strides in improving its advertising offerings and revenue generation. The company's focus on augmented reality (AR) and camera-based advertising has helped it stand out in the crowded social media advertising space.
Expanding revenue streams: Snap has been diversifying its revenue streams through the introduction of new features and services, such as Snap Originals, Snap Games, and the Spectacles AR glasses. These initiatives have the potential to drive significant growth in the future.
Strong financials: Snap's financial performance has been improving, with the company reporting positive net income for the first time in Q3 2023. The company's revenue has also been growing steadily, driven by its expanding user base and improved monetization efforts.
Attractive valuation: Despite its strong growth potential, Snap's stock is currently trading at a relatively low valuation compared to its peers. This presents an attractive opportunity for investors looking to capitalize on the company's growth prospects.
The importance of trading with the trend + Suppy/Demand zonesA trend can be defined with price action or indicators. Understanding that all indicators lag and price behaviour is key I prefer price action to tell me if we are up trending, down trending or trading in a range. Before understanding the basics of market structure it is important to know that its more likely for a trend to keep going on than for the trend to reverse. That is why professional traders look for areas to jump on the trend not areas to go against it. Also, keep in mind what time frame are you using to define the trend, for example, if your trades don't last more than an hour would you jump on the weekly chart trend ? what happens in 1 hour won't affect the weekly chart. So if you are trading the 5 or 15 min chart you can trade with the trend of the 1 or 2 hour chart.
How to define the trend ?
• An up trend is when price is making higher highs and higher lows
• A down trend is when price is making lower highs and lower lows.
• If there is no way to define the trend then you can say it is in a trading range with no clear
direction.
When has the trend changed ?
To explain a trend change we will consider the chart below. First we can notice a clear up trend making higher highs and higher lows (1,2,3) then we create a new lower low (4) where we break below previous higher low (2) then price fails to create a new higher high and instead creates a lower high (5), finally when price breaches the previous lower low at (6) we can consider a change of structure. opposite situation happens in a down trend market.
ABCD CORRECTION PATTERN
There is a very common pattern that pretends to be a change of structure but really it is just a correction pattern to continue the uptrend. Look at the example below. An up trend creates a higher high (A) and a higher low (B). Then creates a lower high (C) and finally a lower low (D) before continuing its up trend.
What did not happen that the trend didn't change ?
If the high after (C) had been also a lower high and then it breaks below (D) and (D) acts further as resistance then the trend had changed.
What is more important here is to understand that trading a continuation of the trend has a higher probability of working, on the example shown the correction ended right at a 4hr demand zone that was valid because the trend was still skewed to the upside.
USDJPY:READY FOR THE BULL TO CONTINUE?!UJ has some amazing bullish momentum behind it- and I am looking to continue to ride this trend and long it!
I am waiting for:
1) At least a 50% retracement and price coming into the daily fair value gap
2) A Liquidity sweep of previous days low
3) Market structure shift on the hourly and attack
This is looking like a very yummy LONG!
Follow and Stay tuned my friends ;)
Uptrend Channel pattern breakout in HCLTECHHCL TECHNOLOGIES LTD
Key highlights: 💡⚡
✅On 1Hour Time Frame Stock Showing Breakout of Uptrend Channel Pattern.
✅Strong Bullish Candlestick Form on this timeframe.
✅It can give movement up to the Breakout target of 1660+.
✅Can Go Long in this stock by placing a stop loss below 1595-.
Long Trade Opportunity on Bullish Gartley PatternFor those who are bullish on GBP and bearish on AUD, the suggested pair for trading and going long is GBPAUD.
The trader is looking to long GBPAUD on a Bullish Gartley Pattern that is expected to complete at 1.9261.
Emphasizing the importance of having a personal trade plan and trading accordingly.
What's your trade plan for GBPAUD?