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📉🛢️ Crude Oil Technical Analysis: Bearish Setup in Focus 📈🐻🚨 Oil traders, exciting times ahead! A compelling bearish opportunity has emerged in the 4-hour timeframe. The price of Crude Oil has recently encountered a crucial supply zone, where a strong rejection was formed. Adding to the bearish outlook, the RSI indicator reveals a bearish divergence, supporting our thesis for a downside move. As traders, you have two strategic options to approach this setup: 1️⃣ Enter a short position right from the supply zone, utilizing the proven supply zone strategy to capitalize on the rejection and potential decline in price. 2️⃣ Exercise patience and wait for a breakdown of the trendline, which will provide additional confirmation to the bearish scenario before initiating your short position. For both approaches, the first take profit level awaits at approximately 73.50, and our ultimate target stands at 71. This is a significant level where a large pool of orders is anticipated, making it an attractive target for taking profit. Feel free to share your toughts in the comments section, follow me for updates and don't forget to press the like button if this insight was helpful !🚀
TVC:USOILShort
by Thomas_Zito
13
NFLX builds more momentum LONG for nowNFLX has been trending up for three weeks. If the trend is getting old it is now showing. Based on a set of two anchored VWAP bands originating June 1 and June 15, Netflix is breaking through VWAP bands from the lower -2 standard deviation lines to the +2 standard deviation lines and nearly the third upper deviation lines. This is a clear and convincing VWAP breakout with buyers in overwhelming control Trading volume today is about 4 or 5 times the running average and about 1M. Volume support for price action is obvious. The dual time frame RSI shows 1 hr TF RSI (blue line) shot up crossed over the daily TF RSI (black line) and is retreating a bit. The daily RS is below 80 and still trending up. The MACD shows a classical bullish momentum pattern with the lines well above the histograms. Overall NFLX has the risk of overextension and possible topping with a fade afterwards. The mass index indicator shows a value into the reversal zone but until the value rises and the drops to 26.5, the trend is still intact. I will take a long trade here, hoping for a quick 5% ROI between now and the end of the week and about 50% on an options trade with a strike of $500 expiring July 28th which I will close upon a confirmed reversal and use the profits realized therefrom to buy a put option to take a ride down.
NASDAQ:NFLXLong
by AwesomeAvani
1
AGQ- A Silver on steroids ETF LONGAGQ a leveraged ETF of silver and its futures, spent mid-March to mid-April on a great uptrend from which it pivoted down in a 50% Fib. retracement which took two months to complete. After a bit of consolidation and sideways channeling, it has finally launched into bullish continuation as shown on the daily chart. The Lorentzian AI machine learning indicator printed a buy signal today as it reacted to a green engulfing candle crossing the mean VWAP anchored from the pivot low of mid-March. This indicator has extreme accuracy in its signals as demonstrated on its tables. On the MTF RSI indicator, the low TF RSI has been riding above the higher and crossed the 50 level one week ago. The zero-lag MACD is confirmatory. Overall AGQ is ready for a swing long trade which I will take. I will zoom into a 30-60 minute time frame and look for a pivot low from which to enter. My target is the line showing two standard deviations above the anchored mean VWAP presently about 36.3 representing at least 20% potential upside and profit. The stop loss will be narrow with the price presently at the mean VWAP and POC line of the visible range volume profile I will set it at 29.85. ( The risk to reward is approximately 1:40 ) DYODD !
AMEX:AGQLong
by AwesomeAvani
2
DPST- Banks will thrive if rate hikes are over LONGDPST is shown here on the 15- minute chart- This triple leveraged bank stock hit a double bottom in late June and early July with a double bounce from the lines one standard deviation below the mean VWAP lines anchored at pivots in mid-May. These lines provide dynamic support and resistance unlike vertical lines from pivots. From the VWAP breakout, price has crossed over the mean VWAPs and is not at the level of the volume profile's POC line and the one standard deviations above the mean VWAP. The two time frame RSI indicator shows the lower time frame rising from below 20 to over 50 and crossing over the higher black line TF RSI is for me a clear and convincing sign of bullish momentum in its extreme form. Fundamentally, bank stocks are gaining in the federal news data regarding CPI and PPI. Based on this analysis, I will take a long trade here targeting the second deviation lines at about $70.5 representing about a11% upside in one week or less.
AMEX:DPSTLong
by AwesomeAvani
JNUG- Gold is Going Higher ( LONG)Gold is rising and so also JNUG the triple-leveraged junior miner ETF which has components of miners that have the most to benefit from rising. On the daily chart, price dropped from a winter pivot high with a head and shoulders pattern into a trend down with a bounce off the lows in early March followed by a YTD pivot high in mid April followed by a trend down into the July 4th holiday where the reversal from the low into the current price movement is supported by the MTF RSI indicator showing both the low and high TF RSIs crossing the 50 level. The zero-lag MACD shows the histogram going negative to positive simultaneously with the K /D lines crossing from underneath and beginning to rise. Importantly the Lroentzian machine learning AI indicator using a variety of indicators and factors printed a buy signal earlier this same trading day. I will go long in a swing trade expectant of great profit. I can see that price is approaching the long term mean VWAP and has crossed over the POC line of the lower high volume area. The target of 43.2 is the POC line of the upper high volume area confluent with the first standard deviation above that mean VWAP and also the neckline of the H & S this past winter. The analysis is strong from the confluences and so expectant of 15-20% profit.
AMEX:JNUGLong
by AwesomeAvani
UAL United Airlines Pre Earnings LONGUAL has been in a persistent trend up for a couple of months after great earnings were reported in early May with another due on July 19th. The airports have been quite busy with vacation travel and UAL has been part of that action. On the 1H chart, price has been supported by the mean VWAP and has oscillated to the one standard deviation line above that. I see a target as 56.80 where the the second deviation lines above the mean aVWAP while placing a stop loss just under the blue line of one STD above VWAP. The price is below the POC line of the volume profile which should act as a magnet pulling the price higher. The MACD indicator shows 4 the lines in parallel and above the zero horizontal line with a positive histogram. The relative volatility indicator shows sufficient volatility to support momentum trading. I will take a long trade going into earnings. I will do this with ten call options contracts with a strike at $57 expiring on July 21st. On the last trading day, this contract had a low of $ 0.95 and a high of $1.32 for a range of 35% in a single day. I expect similar price action as the earnings date approaches. I expect to pay about $1320 for ten contracts and the profit expectation is 100% over the next 10 trading days.
NASDAQ:UALLong
by AwesomeAvani
2
Can USD/JPY rally through this 300-pip liquidity gap?Divergent monetary policies between the Fed and BOJ have allowed USD/JPY to extend its bullish trend on the daily chart. Whilst the Fed are very close to their terminal rate, they have to keep the threat of further hikes on the table to tame inflation expectations. When coupled with the ultra-easy policies of the BOJ, we've seen USD/JPY return to its cycle highs. However, the current resistance level around the November high marks the lows of a ~300-pip liquidity gap - and such areas can see prices move swiftly through them if revisited. Soft US inflation data last November sent USD/JPY aggressively lower on the day, and left the liquidity gap to potentially be filled. The question now is whether bulls can persist and send prices within it, which could see USD/JPY head for the range highs around 145. Of course, a building threat for bulls to keep in the back of their mind is that Japan's Ministry of Finance or the BOJ could become vocal about yen volatility to spook JPY bears. But until then, we prefer to buy dips on the daily chart or seek bullish continuation patterns on lower timeframes.
Long
by CityIndex
UNG continues to rise UNG the ETF that tracks natural gas futures has continued on a significant uptrend since June 1st The 2H chart suggests to be that the trend will continue this upcoming week. UNG is now above the POC line of the long multi-session volume profile. UNG has had support from the VWAP line representing two standard deviations below the mean. In recent days, price has crossed that mean VWAP in a sign of bullish momentum. The volatility oscillator indicator is showing bullish volatility while the RSI is high above 80 and staying there without any fade to suggest bearish divergence. Overall, I will continue to run my position without any partial take profit. My target is the VWAP line that is two standard deviations above the mean anchored VWAP and so presently about 7.85. Any new trade would have the same target while setting the stop loss just below the POC line.
AMEX:UNGLong
by AwesomeAvani
1
Is UADUSD turning down?UADUSD rose over 6% since the end of May. Can it go higher? Analysis on the 2H chart suggests that it cannot. It is presently deep in the resistance/demand zone as delineated by the luxalgo indicator. A long mult-session volume profile shows the high volume area fairly s symmetrical about a POC line which roughly corresponds to a 50% Fibonacci retracement of the uptrend which occurred from May 31st to June 16th. On the MACD the lines have crossed and are trending down. I can easily conclude that the pair is likely to retrace. I will take a short selling forex trade.
Short
by AwesomeAvani
1
GBPUSD possible reversal from a double bottomWith recent Bank of England actions it makes sense the GB pound might strengthen a bit. On the 15 minute- chart, the pair appears to be rising from a double bottom far below the high volume area of the multi-session volume profile. On the MACD indicator, the MACD line is downgoing but appears to be curling toward a reversal and is considerably below zero. Overall, I will take a long forex trade with moderate leverage targeting 1.281 which is below the POC line of the volume profile and so the value where the greatest volume of trades took place recently. The stop loss is the pivot low at 1.2772.
Long
by AwesomeAvani
TSLA tyring to get to blue skyTSLA on the daily chart descended from a triple top Summer '22 into a downturn which reversed after earnings in late January. Since then with the usual waves of up action and retracement it has risen into its current range also going through a cup and handle pattern from early April into late May. On the chart with the volume profile and anchored VWAP overlaid, price is at the confluence of the POC line and the mean anchored VWAP - over the past year the highest volume of trading was at about $185. RSLA is now above that bullish momentum. TSLA short-selling bears are getting destroyed right now. Their buying to sell is the genesis of a potential short squeeze. The latest trend started after an announcement of partnership with Ford regarding charging stations. I have drawn onto the chart what I see as horizontal resistance lines for targets in a trade. Aslo on the chart is a set of zero-lag EMAs to provide further context. I will take a trade of four additional call options with a strike of $185- I will close one for each horizontal target reached. I will run the last contract on a trailing stop loss of 20% while expecting an overall conservative realized take profit of over 300%. The stabilization of macroeconomic headwinds in both the US, Europe and China will allow significant tailwind to push TSLA higher. One of those tailwinds could be the imperative that a rising price places on short sellers including a vast array of put options.
NASDAQ:TSLALong
by AwesomeAvani
22
External Range Liquidity RunBias: downgrade from Bull to Neutral. Positioning: Looking for entries to short. 15m fractal: So I began a short position in the form of long puts after trading back into Premium and making a run on internal buyside liquidity. Currently up 30% so may cover this position if we do not see displacement below 4100. 60min fractal: An idea here would be to long the BISI at 4100-4090. Dial in the entry on a BoS on a smaller time frame such as the 15m to get long and ride into the PDoL and then pivot the position short. Daily/Weekly: Just ran some relative equal highs. Currently trading at a premium as notated "D/W EQ". Will add size for a mean reversion play if market trades into and purges external range liquidity. Levels: I am using the impulse from the large sell side imbalance (4432 to 4303) as a premium draw on liquidity. 4320 is the prior Point of Control before the impulse down so some supply should be present there. 4350 should be the optimal trade entry.
CME_MINI:ES1!
by GammaLabs
Seeking Hidden Treasure: Navigating Virgin Points of ControlIntroduction: Anchoring in Unfamiliar Waters Raise the Jolly Roger, folks! We’re setting sail into unexplored waters today. The stock market can be as unpredictable as the seven seas, and every now and then, you need a little treasure map to help navigate through the tempest. Virgin Points of Control, or VPOCs, are like the hidden coves full of buried treasure. Often overlooked by the untrained eye, these gems can be a goldmine if you know how to wield their power. So, batten down the hatches as we dive deep into the enigmatic world of Virgin Points of Control. Casting the Net: What are Virgin Points of Control? In the trading world, VPOC is the lingo for the price levels where heavy trading volume once took place, but hasn't been retested by price action since. In layman’s terms, imagine a bustling pirate market where a boatload of trading went down. Then, one day, the market moves elsewhere, leaving behind a ghost town. That, my friends, is your Virgin Point of Control. The Ghostly Beacon: Spotting VPOCs A VPOC can be a beacon in the stormy market. To find these mystical points, you’ve got to have your sea charts (read: price and volume charts) handy. Keep an eye out for volume peaks where the price hasn’t returned in a while. There’s your ghost town! Charting the Course: How to Trade with VPOCs Setting Sail: Identify the VPOC First things first, whip out your spyglass and spot those VPOCs. Look for significant volume peaks and valleys that haven’t been revisited. Heave Ho: Monitor Price Action Don’t go in guns blazing just yet! Wait for the price to creep back towards the VPOC. When it's within reach, watch how it behaves. Full Steam Ahead or Abandon Ship: Make the Call If the price bounces back from the VPOC, there might be a treasure chest waiting. However, if it breaches the VPOC, it’s best to cut your losses and abandon ship. Pirate’s Bounty: The Benefits of Trading VPOCs Why should you care about these ghost towns? Here’s why: High Reward Potential: Hidden treasures, anyone? The untested waters of VPOCs can offer rich pickings. Valuable Insights: Understanding VPOCs can give you insight into what other traders are thinking, which is like having a pirate’s parrot eavesdrop on your rivals. Beware the Kraken: The Risks Just like the high seas, Virgin Points of Control have their fair share of risks: False Signals: Sometimes, it’s just a siren’s call leading you to shipwreck. The price might tease you by nearing the VPOC and then leaving you high and dry. Requires Patience: These ghost towns don’t crop up every day. It’s a waiting game, and sometimes the wait can be as long as the voyage of the Flying Dutchman. FAQs 1. Can I use Virgin Points of Control for any market? You bet! The stock market, forex, and commodities are all fair game. 2. Is it necessary to use other indicators along with VPOCs? It's like having a crew on your pirate ship - the more, the merrier! Combining VPOCs with other indicators like moving averages can be a winning strategy. 3. How to identify a VPOC on a chart? Look for peaks in volume where price hasn’t returned for a significant amount of time. Charting New Waters: Concluding the Voyage Virgin Points of Control are like the secret treasure maps of trading. Navigating these waters requires a keen eye, patience, and a dash of daring. With the right mix, VPOCs can be the buried treasure that catapults your trading voyage into legend. Just remember, the sea is a fickle mistress, and a smooth sea never made a skilled sailor. Weigh anchor and set sail, but keep your wits about you! May the trade winds be ever in your favor. Happy treasure hunting!
CME_MINI:ES1!Education
by skyline-trader
AUDJPY is impending reversal SHORTOn the one-hour chart, AUDJPY is in the area of overhead resistance and the supply zone. Both the zero-lag MACD is showing bearish divergence. The mass index indicator has already given a reversal signal where mathematically the indicator goes over 27 and then triggers when it crosses down on 26.5 This indicator often misses a reversal but seldomly generates false signals. Japan has had rock-solid central bank actions and policies perhaps propping up the currency value in comparison with others including the Australian dollar. Overall, I have high confidence in a short leveraged forex trade of the pair at this time. The stop loss is just above the red supply zone while the target is just above the POC line of the volume profile yielding a trade with a reward for risk of over 20.
Short
by AwesomeAvani
KBE ( in top of ascending channel ) is ready to shortKBE on the one-hour chart has been in a rising parallel channel for a month. It is now near the the top of the channel having pivoted within the past few trading sessions. The MACD which is no lag shows a line cross above the histogram while the RSI is topped out as it was on May 23rd the most recent previous pivot downward. I see this as a short setup. The stop loss is at the recent pivot high while the target is $35.15 at the bottom of the channel and somewhat confluent with the POC line of the volume profile which is a natural bounce and reversal value. I would also short the banks by going long on BNKD which adds the extra risk and potential reward of leverage ( see that idea)
AMEX:KBEShort
by AwesomeAvani
DE traders buy on favorable earningsDeere Company had favorable earnings in May reporting quarterly earnings of about 3.5 % on their share's market price. DE is a blue-chip industrial sector stock comparable to CAT. It not a fast mover but very suitable for options trading or investment. On the 4H chart DE had been trending down through earnings in a descending parallel channel and relying on a lower VWAP for support. At the middle of this past week, DE made its reversal move into a trend up. This was accompanied by a change in the volume to predominantly buying volumes relatively high compared with the period before the earnings. This surge of volume of sorts is the fuel for upward price action. The zero-lag MACD indicator shows moving average divergence Price is breaking out of the channel moving towards the mean VWAP and POC line of the volume profile. demonstrating bullish momentum. Accordingly, I see DE as well setup for a long trade. ( SL $345 pivot low TP1 $400 ( 1 std above mean VWAP ) TP2 $420 ( 2 std above mean VWAP)
NYSE:DELong
by AwesomeAvani
SOFI in consolidation so can it continue bullishSOFI on the 2H chart is showing a massive bullish move of 30% in ten days. Most of the trading volume was near to the present price and indicated by the POC line on the volume profile. Price has not moved since most of the trades as there is now a consolidation phase more or less in the style of the high tight bull flag pattern. The three pat indicator of RSI, momentum and money flow index is red for momentum which went over 60 and then 80 and otherwise green. Overall, the indicator is a bullish bias. The volume indicator interestingly shows most of the the massive increase in volume is at the consolidation phase. This makes sense to me because in a nearly parabolic up move without a pullback it is hard to find a decent entry. Many traders including those based in large institutions will simply wait until a consolidation phase begins. The price is in the upper VWAP bands showing buyer has successfully pushed against the well-entrenched short sellers. The rise in price could force short sellers to buy to cover and close. In doing so they would actually help entrench bullish momentum. I believe I will join others in a long trade awaiting the next leg up. My stop loss is the mean VWAP +1 std dev while the target will be mean VWAP +3 std dev. Fundamentally, I believe that the financial sector including the fintech subsector are getting hot as technology is overextended.
NASDAQ:SOFILong
by AwesomeAvani
3
Is DISH ready to dish out some profits?On the weekly chart, DISH has been in a steady decline for over a year and is now on sale for 20% of the asking price a year ago. It is sitting on the long term support zone and has passed over the POC line of the volume profile putting buyers in control. The red doji candle followed by the green doji candle is the capitulation of the bottom. Volume in 2023 has steadily and persistently grown compared with 2022. The accumulation/distribution curve slope has finally approached zero to suggest a price action reversal . I will take a long trade early and beon the leading edge of the uptrend after noting a 15% breakout to kick off the month of June.
DLong
by AwesomeAvani