DIONEUSDTsee and watch :)
It is in a very good support range and has had a very good reaction... It seems that it will move towards the price ceiling from this range...
Trendtrading
GLQUSDTsee and watch :)
After reacting to the support range, the price is now at the bottom of the channel and it seems that it will move towards the top of the channel in the coming days and the story continues...
USDJPY ( INSIDE ASCENDING CHANNEL ) (4H) USDJPY
HELLO TRADERS
Tendency, the price is under upward pressure , until the price trading above support level (1) at 144.354 .
Upward Zone : until the price trading above support level (1) , may make be ascending channel , currently the price trading above turning level at 145.808 , to rising reach of a resistance level (1) around 149.186 , to confirm upward , price need breaking by close 4h candle above 149.186 to reach resistance level (2) at 152.225 , may be the price reserve and breaking turning level to reaching a support level (1) at 144.354 , after starting a up trading to inside resistance zone .
Downward Zone: should the price reserve and breaking turning level at 145.808 , indicates dropping to support level (1) around 144.354 , to confirm downward , the price it will be breaking 144.354 , by closing 4h candle below it to reach support level (2) at 142.275 , called support zone have been buying increase in this zone .
Corrective level :Price may make a correction at 145.808 & 144.354 , before rising .
TARGET LEVEL :
RESISTANCE LEVEL : 149.186 , 152.225 .
SUPPORT LEVEL : 144.354 , 142.275 .
XAUUSD ( INSIDE TWO TUENING LEVEL ) ( 4H )XAUUSD
HELLO TRADERS
currently price between two turning level by breaking each level determine the direction , for know the price trading above turning level (2) at 2,391$ , remain this level it will be attempt to reach a turning level (1) at 2,420$ .
Tendency, the price inside two turning level around ( 2,420$ & 2,391$)
Upward Zone : in order see increase , the price need breaking turning level at 2,420$ , by closing 4h candle above it , easily to reach a resistance level (1) around 2,436$ , remain this level indicates the price trying to inside a resistance zone between 2,459$ and 2,474$ .
Downward Zone: by breaking turning level (2) around 2,391$ , the price dropping to reach a support level (1) at 2,364$ , to confirm downward , gold need breaking support level (1) by open 4h candle below it to reach a support level (2) at 2,346 .
TARGET LEVEL :
RESISTANCE LEVEL : 2,436$ , 2,459$ , 2,474$ .
SUPPORT LEVEL : 2,364$ , 2,346$ .
"Straddle" on the Yen. Can we make money on this?The Japanese yen option market bet on Straddle.
A "Straddle" is a type of options strategy that aims to profit from market volatility regardless of the direction of price movement. In simpler terms, a Straddle involves buying both a call and put option with the same strike price, creating a neutral position.
This type of strategy can generate profits if the market moves in either direction, but the profits are not realized immediately, rather, they occur after the market has passed certain price points. It is highly recommended that you read ourarticle published on TV for further understanding.
Despite the fact that examples are provided in post from stock market, where Straddles are more common, the principles and mechanics of this strategy are applicable to all markets.
So, on August 6th, a significant Straddle option portfolio was listed on the Chicago Mercantile Exchange (CME). The boundaries of this portfolio, which are indicated on the provided chart, represent reasonable entry points for the portfolio owner. Based on observations, the price tends to bounce off these boundaries. Therefore, these boundaries can be used to enhance our trading strategy. For trading in the direction of the current trend, of course! Not contr-trend!
Let's see if we can get a signal at the border and open up a position.
REN/USDT Analysis – August 8, 20241. Introduction of the Analysis: BYBIT:RENUSDT.P
This analysis delves into the REN/USDT pair on the 4-hour timeframe, using technical indicators to project potential market movements and identify strategic trading opportunities.
2. Indicators Used:
- Quarterly Fibonacci Pivot Point Levels: These levels are used to highlight crucial support and resistance zones that could guide price action.
- Main Pivot Point (Yellow Resistance): The yellow line represents the main pivot point, a significant level where price reactions are anticipated.
- Support and Resistance of Pivot Points: The grey areas on the chart provide additional support and resistance levels derived from pivot points, offering further insights for potential price targets.
- Weekly Candle Display: This feature allows for alignment with broader market trends by showing weekly price movements.
- Monthly Fibonacci Pivot Point Levels: These levels provide higher timeframe confluence, reinforcing the importance of the identified support and resistance areas.
- Yellow Candle (High Volume): The yellow candle indicates a significant volume spike (over 200), signaling strong market activity at that level.
3. Overview:
- Support Zone:
- A key support area is identified near the 0.0306 level, which corresponds with a quarterly Fibonacci pivot point. This zone could serve as a potential rebound area for price.
- Resistance Zone:
- The primary resistance level is marked by the yellow line at 0.04318, aligning with the main pivot point. Additional resistance is found around 0.05277, which could act as a target for price movements.
- Trade Setup:
- Long Position:
- Entry: Around 0.03976, where price is testing a grey support zone.
- Targets:
- First target at 0.04318.
- Second target at 0.05277, correlating with the upper resistance level.
- Stop Loss: Below the recent low at 0.0306.
4. Conclusion:
REN/USDT is currently positioned at a key support level of 0.03976, with potential for an upward move towards 0.04318 and 0.05277 resistance zones. Traders might consider entering long positions at these levels, with proper risk management by setting a stop loss below the 0.0306 support level.
5. Disclaimer:
This analysis is provided for informational purposes only and should not be considered as financial advice. Always conduct your own research and consult a financial advisor before making trading decisions. Past performance is not indicative of future results. This content adheres to TradingView’s guidelines and avoids any promotional or external community links.
BITCOIN ( INSIDE DESCENDING CHANNEL ) ( 4H )BTCUSD
HELLO TRADERS
Tendency , the price is under bearish pressure , until trading below turning level at 59,247 .
TURNING LEVEL : the price of this level at 59,247 , so as long as the price trade below this level indicates likely to reach a support level (1) , but if the breaking by open 4h candle above this level reach a resistance level (1) .
RESISTANCE ZONE : this zone between 63,311 and 68,033 , for reach this zone the price need breaking turning level at 59,247 , first thing breaking this level indicates to reach resistance level (1) at 63,311 , then breaking this level by open 4h candle above this reach a resistance level (2) at 68,033 , after breaking this zone it will be attempt to reach resistance level (3) at 71,766 , selling have already increase in this zone .
SUPPORT ZONE : this zone between 54,503 & 51,276 , as long as the price trading below turning level or stabilizing below this level indicates to reach of a support level (1) at 54,503 , then breaking this level by open 4h or 1h candle below this easily to touch a support level (2) at 51,276 .
CORRECTIVE : the price corrective at 59,247, before dropping .
TARGET LEVEL :
RESISTANCE LEVEL : 63,311 , 68,033 , 71,766
SUPPORT LEVEL :54,503 ,51,276 .
EURUSD ( INSIDE ASCENDING CHANNEL) ( 4H )EURUSD
HELLO TRADERS
Tendency, the price is under up ward pressure , until trade above turning level at 1.091 .
Upward zone : In order to see an increase, the price needs to continues trading above a turning level at 1.091 , to reach resistance levels (1) around 1.098 , then if the price breaking resistance level (1) by open 4h candle above it indicates to reach a resistance level (2) at 1.102 , but stabilizing below this level it refers likely to reach a turning level .
Downward zone: Provided until the prices breaking turning level by open 4h candle below it, indicates a reach of the support level (1) at 1.084 , then breaking this level with a 4h or 1h open candle below is likely to reach the support level (2) at 1.078 .
Corrective level :Price may make a correction at 1.091 , before rising .
TARGET LEVEL :
RESISTANCE LEVEL : 1.098 , 1.102 .
SUPPORT LEVEL : 1.084 , 1.078 .
USOIL ( BETWEEN TWO TURNING LEVEL ) ( 4H )USOIL
HELLO TRADERS
currently price between two turning level by breaking each level determine the direction , for know the price trading above turning level (2) at 74.74 , remain this level it will be attempt to reach a turning level (1) at 76.25 .
Tendency, the price inside two turning level around ( 74.74 & 76.25$) .
Upward Zone : in order see increase , the price need breaking turning level (1) at 76.25 , by closing 4h candle above it , easily to reach a resistance level (1) around 78.53 , remain this level indicates the price trying to reach of a resistance level (2) at 80,75 .
Downward Zone: by breaking turning level (2) around 74.74 , the price dropping to reach a support level (1) at 72.82, to confirm downward , gold need breaking support level (1) by open 4h candle below it to reach a support level (2) at 71.81 .
TARGET LEVEL :
RESISTANCE LEVEL : 78.53 , 80.75 .
SUPPORT LEVEL : 72.82 , 71.81 .
US30 ( BREAKOUT ASCENDING CHANNEL ) (1D)US30
HELLO TRADERS
Tendency, the price is under down ward pressure, until trade below 40,025 .
Upward zone : In order to see an increase, the price needs to break the turning level at 40,025 , to reach resistance levels (1) at 41,219 , then as it stabilizes on the turning level we may see new resistance zones around 42.549 and 43,658 .
Downward zone: Provided until the prices trade below the turning level, it indicates a reach of the support level (1) at 39,071, then breaking this level with a 1d or 4h open candle below is likely to reach the support level (2) at 38,099 .
Corrective level :Price may make a correction before dropping .
TARGET LEVEL :
RESISTANCE LEVEL : 41,219 , 42,549 , 43,658 .
SUPPORT LEVEL : 39,071 , 38,099 .
CHFJPY SELLComing from an uptrend, we broke the trend line breaking the previous higher low and forming a lower low. We have come to retest the sell zone and got a confirmation candlestick which confirms a potential trend change.
DXY ( BREAKOUT AND AGAIN INSIDE CHANNEL ) (4H)DXY
HELLO TRADERS
Tendency, the price inside sensitive area , trading nearly turning level at 103.221 .
Upward Zone : as long as the price should be breaking turning level at 103.221 , refers active upward zone , currently the price trading below turning level at 103.221 , to rising inside resistance zone between 103.690 & 104.477 , first thing for this rising reach of a resistance level (1) at 103.690 , by closing 4h candle above it easily reach next level at 104.477 , to confirm a rising , the price should be breaking resistance zone because in this zone have been many sales before .
Downward Zone: until the price trading below turning level around 103.221 , indicates dropping to support level (1) around 102.736 , to confirm true decline , the price it will be breaking 102.736 , by closing 4h candle below it to reach support
level (2) at 102.310 , called support zone have been buying increase in this zone before .
TARGET LEVEL :
RESISTANCE LEVEL : 103.690 , 104.477 .
SUPPORT LEVEL : 102.736 , 102.310 .
Bitcoin Down 14% from Halving Event: What Happens from HereThree posts ago, we discussed the intricate relationship between Bitcoin’s halving events and broader economic conditions. The recent market developments have indeed proven this connection, as Bitcoin has experienced a significant 14% drop since the halving event on April 20th 2024.
Context of the Recent Market Crash
Several factors have contributed to Bitcoin's recent decline:
1. Macro-Economic Conditions : The Bank of Japan's rate hike on July 31, 2024, significantly impacted global markets. This move made borrowing more expensive, disrupting the carry trade involving the yen and causing a ripple effect across various asset classes, including cryptocurrencies.
2. Market Sentiment and Sell-offs : The anticipation of Mt. Gox creditor repayments, releasing around $8 billion worth of Bitcoin into the market, created fear among investors, prompting a sell-off that drove prices down to as low as $53,600.
3. Broader Equity Market Decline : Global equity markets have also been under pressure, with major indices experiencing significant losses. This broader market downturn has influenced Bitcoin's price, as investors often sell off riskier assets during periods of economic uncertainty
It's Not All Doom and Gloom
Over the long term, Bitcoin has always shown resilience and growth, particularly in the years following a halving event. Historically, Bitcoin's price tends to experience significant increases 6-12 months after each halving. This pattern has been consistent across the previous three halving events:
2012 Halving: Bitcoin surged from around $12 to over $1,000 within a year.
2016 Halving: Bitcoin climbed from approximately $650 to nearly $20,000 within 18 months.
2020 Halving: Bitcoin soared from $8,000 to over $60,000 in the following year.
These historical trends indicate that despite short-term volatility and market downturns, Bitcoin has a strong track record of long-term growth. This resilience is driven by the fundamental principle of reduced supply through halvings, which creates scarcity and can drive demand.
Position Update from Our Trend Model
The Model had gone cash one day prior to the sell-off, resulting in a small loss of 6% from the long entry price back in July, the model was however able to avoid what was to come after that, which was a 20% drawdown within 72 hours. The model remains bearish for the medium term and we'll update in another post when the time comes.
As always, it is crucial to conduct thorough research and consider both macroeconomic factors and market sentiment when making investment decisions. Stay tuned for more updates and insights as we continue to monitor the evolving market conditions and their impact on primarily crypto 🚀.
#OIL Elliot wave analysisAfter the bearish move that oil prices experienced until the fifth of August, it seems like the price has initiated another bullish move, which currently appears to be an impulsive wave.
However, it should be noted that even if this bullish move is an ABC corrective wave, it makes no difference since the price could still go higher to complete wave C.
Therefore, this bullish move seems probable for now, and we could look for buying opportunities near support levels.
SPX500USD ( TRADING ABOVE SUPPORT LEVEL(1) ) ( 4H )SPX500USD
HELLO TRADERS
Tendency, the price is under bullish pressure , until the price trading above support level (1) at 5,206 .
Upward Zone : until the price trading above 5,206 , refers active upward zone , currently the price trading above turning level at 5,267 , to rising inside resistance zone between 5,344 & 5,411 , first thing for this rising reach of a resistance level (1) at 5,344 , by closing 4h candle above it easily reach next level at 5,411 , to confirm a rising , the price should be breaking resistance zone because in this zone have been many sales before .
Downward Zone: should the price reserve and breaking turning level at 5,267 , indicates dropping to support level (1) around 5,206 , to confirm true decline , the price it will be breaking 5,267 , by closing 4h candle below it to reach support level (2) at 5,124 , called support zone have been buying increase in this zone before .
Corrective level :Price may make a correction at 5,267 & 5,206 , before rising .
TARGET LEVEL :
RESISTANCE LEVEL : 5,344 , 5,411 .
SUPPORT LEVEL : 5,206 , 5,124 .
NAS100USD ( INSIDE DESCINDING CHANNEL ) ( 4H) NAS100USD
HELLO TRADERS
in recent days , prices have fallen sharply , with the issuance of shares of several companies and losses .
Tendency, the price is under bullish pressure , until the price trading above turning level at 18,244 .
RESISTANCE ZONE : in order to see an increase , as long as trading and stabilizing above turning level at 18,244 , to support rising to reach of a resistance level (1) at 18,698 , to confirm a rising trading , price should be closing 1h or 4h candle above resistance level (1) to reach a resistance level (2) at 19,112 , this two level called resistance zone , there have been many sales in this zone before , may be the price reserve descending channel before rising .
SUPPORT ZONE : should the price reserve and breaking turning level , indicates dropping to support level (1) around 17,435 , to confirm downward , the price it will be breaking 17,435 , by closing 4h candle below it to reach support level (2) at 17,047 , to reach support level (3) at 16,232 , the price should be stabilizing below 17,047 , there have been many buying in this zone before .
Corrective level :Price may make a correction at 18,244 , before rising .
TARGET LEVEL :
RESISTANCE LEVEL : 18,698 ,19,112 , 19,546 .
SUPPORT LEVEL : 17,435 , 17,047 , 16,232 .
XAUUSD ( UNDER BULLISH PRESSURE ) (4H)XAUUSD
HELLO TRADERS
Tendency, the price is under upward pressure , until the price trading above support level (1) at 2,367$.
Upward Zone : until the price trading above support level (1) , indicates further up trading , currently the price trading above turning level at 2,391 , to support reach of a resistance level (1) around 2,420$ , to confirm upward , price need breaking by close 4h candle above 2,420$ to reach resistance level (2) at 2,440$ , may be the price reserve and breaking turning level to reaching a support level (1) at 2,367$ , after starting a upward .
Downward Zone: should the price reserve and breaking turning level , indicates dropping to support level (1) around 2,367$ , to confirm downward , the price it will be breaking 2,367$ , by closing 4h candle below it to reach support level (2) at 2,337$ .
Corrective level :Price may make a correction at 2,391$ & 2,367$ , before rising .
TARGET LEVEL :
RESISTANCE LEVEL : 2,420$, 2,440$ , 2,460$.
SUPPORT LEVEL : 2,367$ , 2,337$ , 2,303$.
DOGEUSDT ( STABILIZING BELOW TURNING LEVEL ) ( 4H )DOGEUSDT
HELLO TRADERS
Tendency , the price is under bearish pressure , until trading below turning level at 0.102 .
TURNING LEVEL : the price of this level at 0.102 , so until the price trade below this level indicates likely to reach a support level (1) , but if the breaking by open 4h candle above this level reach a resistance level (1) .
RESISTANCE ZONE : this zone between 0.115 and 0.128 , in order to see this zone the price need breaking turning level at 0.102 , breaking this price indicates an increase and reaching the resistance level (1) at 0.115 , then stabilizing above resistance level (1) likely to reach of a resistance level (2) at 0.128 , after breaking this zone it will be attempt to reach resistance level (3) at 0.141 , selling have already increase in this zone .
SUPPORT ZONE : this zone between 0.091 & 0.080 , until the price trading below turning level or stabilizing below this level indicates to reach of a support level (1) at 0.091 , by open 4h or 1h candle below support level (1) , it indicates to reaching support level (2) around 0.080
CORRECTIVE : the price corrective at 0.102, before dropping .
TARGET LEVEL :
RESISTANCE LEVEL : 0.56 , 0.61 , 0.65 .
SUPPORT LEVEL : 0.44 , 0.39 .
XRPUSDT ( BREKOUT ASCENDING CHANNEL ) (4H)XRPUSDT
HELLO TRADERS
Tendency , the price is under bearish pressure , until trading below turning level at 0.51 .
TURNING LEVEL : the price of this level at 0.51 , so until the price trade below this level indicates likely to reach a support level (1) , but if the breaking by open 4h candle above this level reach a resistance level (1) .
RESISTANCE ZONE : this zone between 0.56 and 0.61 , in order to see this zone the price need breaking turning level at 0.51 , breaking this price indicates an increase and reaching the resistance level (1) at 0.56 , then stabilizing above resistance level (1) likely to reach of a resistance level (2) at 0.61 , after breaking this zone it will be attempt to reach resistance level (3) at 0.65 , selling have already increase in this zone .
SUPPORT ZONE : this zone between 0.44 & 0.39 , until the price trading below turning level or stabilizing below this level indicates to reach of a support level (1) at 0.44 , then breaking this level by open 4h or 1h candle below this easily to touch a support level (2) at 0.39 .
CORRECTIVE : the price corrective at 0.51, before dropping .
TARGET LEVEL :
RESISTANCE LEVEL : 0.56 , 0.61 , 0.65 .
SUPPORT LEVEL :0.44 ,0.39 .
Gold Traders Alert: Crucial Levels to Watch for the Next Trade!Key Components:
Chart Type and Pair:
The chart is a 1-hour (1H) timeframe for the Gold Spot/U.S. Dollar (XAU/USD) pair.
Support and Resistance Levels:
Horizontal Resistance Line at $2,446.18: This is labeled as "1HR LQZ" (1-hour liquidity zone), indicating a significant resistance level where price might face selling pressure.
Horizontal Support Line at $2,347.82: Also labeled as "1HR LQZ," indicating a significant support level where the price might find buying interest.
Trend Lines:
There are descending yellow trend lines drawn, indicating a downtrend. The lower yellow trend line has a label suggesting a "Potential 3rd Touch," which typically indicates a possible point for a bounce or reversal.
Price Action:
The recent price action shows a lower high (LH) formation near $2,446.18, suggesting a downtrend continuation.
Two potential scenarios are sketched on the right side of the chart with different colored lines (orange and green) depicting possible future price movements.
Analysis:
Current Trend:
The overall trend appears to be bearish due to the formation of lower highs (LH) and lower lows (LL).
Support and Resistance:
The price is currently trading between two significant levels ($2,446.18 and $2,347.82). Breaking either level with strong momentum could indicate the next directional move.
The price nearing the lower yellow trend line for a potential third touch suggests a possible bounce. If the price respects this trend line, it could indicate a temporary support.
Potential Scenarios:
Bullish Scenario (Green Path):
If the price finds support at the lower yellow trend line and the horizontal support at $2,347.82, it might bounce back towards $2,446.18. Breaking above this level could lead to a further rise.
Bearish Scenario (Orange Path):
If the price fails to hold the support at the yellow trend line and $2,347.82, it might continue to fall. A break below this support level could lead to further declines, targeting lower support levels not shown in the chart.
GBPJPY ( UNDER STRONG DOWNWARD PRESSURE ) ( 4H )GBPJPY
HELLO TRADERS
Tendency , the price is under bearish pressure , until trading below turning level at 183.919 .
TURNING LEVEL : the price of this level at 183.919 , so until the price trade below this level indicates likely to reach a support level (1) , but if the breaking by open 4h candle above this level reach a resistance level (1) .
RESISTANCE ZONE : this zone between 191.007 and 198.018 , in order to see this zone the price need breaking turning level at 183.919 , breaking this price indicates an increase and reaching the resistance level (1) at 191.007 , then stabilizing above resistance level (1) likely to reach of a resistance level (2) at 198.018 , after breaking this zone it will be attempt to reach resistance level (3) at 203.869 , selling have already increase in this zone .
SUPPORT ZONE : this zone between 180.401 & 177.400 , until the price trading below turning level or stabilizing below this level indicates to reach of a support level (1) at 180.401 , by open 4h or 1h candle below support level (1) , it indicates to reaching support level (2) around 177.400 .
CORRECTIVE : the price corrective at 183.919 , before dropping .
TARGET LEVEL :
RESISTANCE LEVEL : 191.007 , 198.018, 203.869 .
SUPPORT LEVEL : 180.401 , 177.400 .
USOIL ( BREAKOUT DESCINDIN CHANNEL ) (4H)USOIL
Tendency, the price is under down ward pressure , until trade below 74.22 .
Upward zone : In order to see an increase, the price needs to breaking the turning level at 74.22 , to reach resistance levels (1) around 77.06 , then breaking resistance level (1) it indicates to reach of a resistance level (2) at 78.89 .
Downward zone: Provided until the prices trade below the turning level, it indicates a reach of the support level (1) at 71.55 , then breaking this level with a 4h or 1h open candle below is likely to reach the support level (2) at 69.30 , the breaking this level reach a next level at 67.93
Corrective level :Price may make a correction at 74.22, before dropping .
TARGET LEVEL :
RESISTANCE LEVEL : 77.06 , 78.89.
SUPPORT LEVEL : 71.55 , 69.30 , 67.93 .
NAS100USD ( BREAKOUT DESCINDING & ASCENDING CHANNEL ) ( 4H )NAS100USD
Tendency , the price is under bearish pressure , until trading below 18,244 .
TURNING LEVEL : the price of this level at 18,244 , so as long as the price trade below this level indicates likely to reach a support level (1) , but if the breaking by open 4h candle above this level reach a resistance level (1) .
RESISTANCE LEVEL (1) : this level around 18,698 , for reach this resistance level the price need breaking turning level , indicates have good selling in this level .
RESISTANCE LEVEL (2) : around 19,112 , for reach this level it will be breaking by open 4h or 1h candle above resistance level (1) .
SUPPORT LEVEL (1) : this level around 17,435, for reach this support level the price need stabilizing below turning level , indicates have good buying in this level .
SUPPORT LEVEL (2) : support level at 17,047 , for reach this level will be breaking by open 4h candle below support level (1) .
CORRECTIVE : the price corrective at 18,244 , before dropping .
PRICE MOVEMENT : currently price 18.037 , my be the price first thing corrective turning level , as long as until the price trade below turning level at 18,244 , it will be trying to reach support level (1) , then breaking by open 4h or 1h candle below this level , indicates to reach a support level (1) , if the price breaking turning level by open 4h or 1h candle easily to reach of resistance level (1) .
TARGET LEVEL :
RESISTANCE LEVEL : 18,698 , 19,112 .
SUPPORT LEVEL :17,435 ,18,239 .
