go long - swing pick- this stock shows signficant delivery percentage value
- possible chances for accumulation
- may perform good in upcoming days
- this stock is picked after market close based on delivery qty data.
- follow this stock for next 5 days , if entry not triggered with in 5 days , ignore pick
- line marked in chart is the day it showed huge delivery percentage.i consider it as signal candle.i marked its high and low
entry
- go long with 1:1.5 RR
- take entry if 15min close crosses the line , ignore entry if it made gap ups
- i prefer entry with in 5 days , if not triggered ignore this pick
sl
- candle close below signal candle's low
target
- keep 1.5 times of sl.
Volume
Uncovering Market Sentiment with Long Candle Midpoint Indicator Introduction:
In the dynamic world of cryptocurrency trading, understanding market sentiment is crucial for making informed trading decisions. In this blog post, we will analyze the BTCUSD market through the lens of a custom-built technical indicator, the Long Candle Midpoint indicator, on the TradingView platform.
This indicator helps identify long candles, which often serve as strong psychological lines that reflect market sentiment.
Indicator Behavior and Analysis:
The Long Candle Midpoint indicator has identified four significant long candles in the BTCUSD market, with middle lines that have been respected by the bullish crowd at $30,479, $37,458, $50,638, and $65,479. These levels indicate a positive market sentiment towards BTCUSD, as the bullish crowd has shown consistent interest in these price levels.
Currently, the market is in a consolidation phase due to various global cues. However, two crucial psychological levels stand out: $69,500 and $57,500.
These levels were previously broken down in the weekly timeframe, and the market attempted to break out again, but failed to surpass the trend line.
Indicator Settings:
The Long Candle Midpoint indicator has been configured with a length of 20 bars and a line extension of 100 bars. The calculation method is set to "Both," which considers both the highest true range and the average true range. The LC multiplier is set to 1.6%, which determines the long candle threshold.
Trading Implications:
While this analysis does not constitute a buy or sell call, it sheds light on the market's potential decision regarding BTCUSD. Traders should carefully consider entry and exit points, keeping an eye on the crucial psychological levels of $69,500 and $57,500.
Conclusion:
By analyzing the BTCUSD market using the Long Candle Midpoint indicator, we have identified strong psychological levels that reflect the market's sentiment. Understanding these levels can help traders make informed decisions and better navigate the ever-changing cryptocurrency market. Stay vigilant, and happy trading!
Disclaimer: This analysis is for educational purposes only and should not be considered financial advice. Always do your own research and consult a professional before making any investment decisions.
Paypal ($PYPL) - close to done correcting?There are multiple ways to count the move up, I have two different possibilities on the chart. Either way, I think at this points it's enough to assume that was an impulse. On the correction side I propose a Zigzag, with the C wave as a contracting diagonale, that is missing the C-wave of the wave 5.
The volume profile shows very little volume between 55 and 58, so anything more than a tiny dip in that zone might very well lead to 55 and below.
Whether there will be a noteworthy retracement before the possibly last move down or not, we will have to see. It might just continue going down to finish. I'd be looking at 53-55 for a bottom, though the count will stay valid until around 47.
Gold price to cool down after mid week bull runThis week we have seen a bullish run that started on tuesday reaching 2 highs this week at around 2460 after FED news on rate cuts that didn´t make much of an impact as geopolitical tensions did we can expect price to go down during the next sessions in ASIA, EUROPE and finally US as major events have passed.
XAUUSD. The Leap. Where will the price go?Hi traders and investors!
More than 13,000 traders have registered for The Leap paper trading competition. One of the assets of the competition is XAUUSD. Perhaps this analysis will help you make the right decision (the SPX500 analysis is available in the linked idea).
In a related idea, XAUUSD predicted that if the buyer defends the $2378 - $2383 range, then the likelihood of the buyer reaching $2431.59 and $2450.125 will increase. The buyer has reached $2450.125, time to update the analysis.
Daily Timeframe Analysis:
On the daily TF, the price formed a sideways pattern, now the current seller vector is 7-8 with potential targets of $2286.83, $2277.345. The seller's vector interacted with the first obstacle of $2391.520, where the buyer won, forming a buyer's zone (blue rectangle on the chart, upper limit $2401.31). The volume of the seller's candle from July 25, which was absorbed by the buyer, is the largest in the last 3 months. Now the price has reached the upper limit of the sideways trend at $2450.125. Let's note the surge in volume on the buyer's candle from July 31 and the closing of this candle above the test of the seller's zone ($2432.065) at the upper border of the sideways band (red rectangle on the chart). Now all attention is focused on the struggle between buyer and seller for the level of $2432.065. To consider the fight, let's consider the lower TF.
Hourly Timeframe Analysis:
On the hourly TF, the price formed a sideways pattern near the upper bounder of the sideways trend of the daily TF. $2437.32 is the lower bounder of the sideways trend, $2458.465 is the upper bounder of the sideways trend.
Selling opportunities:
If the price exits the sideways trend downwards, below $2432.065, and the seller protects this exit, you can look for selling opportunities. The goal is to choose the closest one and follow the deal (monitor how the price passes the range of 2428-2419).
Buying opportunities:
If the buyer protects the lower border of the sidebar (up to $2432.065), you can look for buying opportunities. The goal is the upper limit of the hourly sideways trend and possibly a new ATH.
NKE is worth watching for an entry point based on RSI and volume My Trading Strategy is very basic, a classic K.I.S.S. Philosophy. Using StochRSI, a 5 year chart for historical data and a YTD chart for current data. I look for oversold discounted companies. Nike had a ton of negative press, blah earnings and the stock price got clipped after they reported. To me, this fits my strategy to a tee, and patience and paying attention to RSI particularly will serve me well.
Today, NKE price had the first of 3 bullish price moves. I’d prefer to see the RSI on both K&D be above 35 before trying to make an early move however in this case, RSI rose well above 35 but the stock price did not follow. I opted to wait and see if buying volume would continue.
My trades are typically for 3-10 days and my exits vary by stock performance, market conditions etc.
GMM has some volume comingGMM is a Chinese company. I would load the boat on this one, but might have some upside potential. This is based on the volume so far. I am playing small and since it is not an Alpha Candle, there is no stop loss drawn by the code. So put your stop loss based on your analysis. Hope she brings some action.
Navigating the Waves: Elliott Wave Theory and Key IndicatorsEducational Technical Analysis on example chart of UFO Moviez India
Elliott Wave Analysis and Key Moving Averages
Disclaimer
This study is for educational purposes only and does not constitute trading or investment advice. The analysis presented focuses on one potential scenario based on Elliott Wave Theory and other technical indicators. Trading and investing involve substantial risk, and individuals should consult a financial advisor before making any decisions.
Introduction to Elliott Wave Theory
Elliott Wave Theory is a form of technical analysis that traders use to analyze financial market cycles and forecast market trends by identifying extremes in investor psychology, highs and lows in prices, and other collective activities. The theory posits that stock prices move in predictable patterns or "waves" based on investor sentiment.
Principles of Elliott Wave Theory
1. Wave Patterns: According to Elliott, market prices move in five waves in the direction of the main trend (impulse waves) and three waves in a correction against the main trend (corrective waves).
2. Wave Degrees: Waves are fractal in nature, meaning that smaller waves form part of larger waves, and this pattern repeats on all time frames.
3. Wave Characteristics:
- Wave 1: Usually the smallest impulse wave.
- Wave 2: Corrects Wave 1 but does not exceed its starting point.
- Wave 3: Typically the strongest and longest wave.
- Wave 4: Corrective wave that is usually less severe.
- Wave 5: Final leg in the direction of the main trend.
Current Analysis of example chart of UFO Moviez India
Based on the chart and Elliott Wave Theory, UFO Moviez India is currently suggesting an impulsive and momentum-driven 3rd of the 3rd wave ahead, with an invalidation level at 106.
Key Observations:
1. Wave Count:
- Wave (1): An initial 5-wave impulse has completed.
- Wave (2): A corrective ABC pattern.
- Wave (3): Currently unfolding with sub-waves i, ii, iii, iv, and v marked.
- Wave 3: In the larger context is forming.
2. Breakout:
- There is a breakout above the downward trendline with good volumes, indicating strong bullish momentum.
3. Key Moving Averages:
- Price Trading Above:
- 50 EMA, 100 EMA, and 200 EMA
- 50 WEMA, 100 WEMA, and 200 WEMA
- Crossed above 20 MMA
Technical Indicators and Levels
- Price: 148.54 INR (as of the latest close)
- Support Levels:
- Nearest Invalidation Level: 106 INR
- Major Support: 57.20 INR
- Resistance Levels:
- Immediate Target: 175.58 INR (Wave 1 of larger degree)
- Fibonacci Extension Target: 220.51 INR (1.618 extension of Wave 1)
Conclusion
The Elliott Wave analysis of example chart of UFO Moviez India indicates a potentially strong bullish trend as the stock is in the 3rd wave of a larger impulse. The breakout above the trendline with significant volume further supports this bullish outlook. However, it is crucial to monitor the invalidation level at 106 INR, as a break below this level could invalidate the current wave count and suggest a different scenario.
Educational Purpose Notice
This analysis is provided for educational purposes only. It is not an investment or trading advice or tip. Trading and investing in financial markets involve risk, and it is important to do thorough research and consult with a financial advisor before making any investment decisions.
I am not Sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.
Most investors treat trading as a hobby because they have a full-time job doing something else.
However, If you treat trading like a business, it will pay you like a business.
If you treat like a hobby, hobbies don't pay, they cost you...!
Hope this post is helpful to community
Thanks
RK💕
Disclaimer and Risk Warning.
The analysis and discussion provided on in.tradingview.com is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
SPX500. Where to look for purchases and sales.Hello traders and investors!
Let's analyze the SPX500.
Weekly Timeframe Analysis:
A buyer's impulse has formed on the weekly TF with an impulse base of $5193.1. The seller performed well, showing a good spread and volume. Key impulse candle from 06/10/24 (candle with the highest volume in the impulse, “KC” on the chart), its close is slightly below 50% of the impulse. I assume that the seller will lower the price to the key candle, where it will be necessary to evaluate the buyer’s actions to search for purchases.
Daily Timeframe Analysis:
On the daily timeframe, the seller broke through the bottom of the buyer's last impulse ($5577.4). The seller's impulse is not over yet, since there has not been a buyer's candle yet. The base of the seller's momentum is $5680.4. While the seller is protecting the $5577.4 level, it is advisable to look for sales.
2H Timeframe Analysis:
On the 2-hour time frame, the price formed a sideways movement (the lower border of the sideways movement is $5577.4). Then the seller broke through the lower border of the sideways movement and launched a short trend. The base of the seller's last impulse is $5568. 50% of the seller's last impulse – $5536.1.
On the 8-hour timeframe and the 4-hour timeframe, the price situation is similar to the 2-hour timeframe. The initial level of the seller's last impulse is $5568. 50% of the seller's last impulse – $5536.1.
Thus, in the range of $5577.4 - $5568 there is a context for searching for sales on the daily, 8-hour, 4-hour and 2-hour timeframes .
Selling Strategy:
Seller protection levels $5577.4 or $5568.
Seller protection 50% of last impulse - $5536.1
Buying Strategy:
When the price reaches the range of $5328 - $5436, look for patterns for purchases.
If the buyer returns the price above $5577.4 and protects this level.
SPX500. The Leap paper trading competitionHi traders and investors!
In the previous idea, I analyzed the weekly and daily TF to find price zones for sales and purchases. In terms of sales, the idea worked. In terms of purchases, the pattern has not yet formed. It's time to update analysis.
Daily Timeframe Analysis:
There is a short trend on the daily TF. The last impulse of the seller is from the level of $5594.4. The key impulse candle is located at the bottom of the impulse (the candle with the highest volume, marked on the chart "KC") This is the daily candle from 07/25 and is the one with the highest volume over the last 3 months. What is interesting is that most of the body of the candle is below 50% of the last buyer impulse on the weekly TF (see the related idea, where there is an analysis of the weekly TF).
Hourly Timeframe Analysis:
On the hourly timeframe there were more than 3 price touches of 50% of the seller’s last impulse on the daily timeframe; the seller failed to update the minimum, which may indicate the seller’s weakness.
Selling opportunities:
There is a high probability that the buyer will reach $5504.1 (the minimum of the seller’s previous impulse on the daily timeframe) and $5511 (50% of the seller’s last impulse on the hourly timeframe), where I will watch the seller’s reaction to look for sales.
Buying opportunities:
It is advisable to search for purchases when the price returns above $5504 and the buyer protects this level. On a 30-minute time frame, this will mean an upward exit from the sideways trend and the protection of this exit by the buyer.
RR is she coming backI created an idea for trading a week ago for RR. It was the perfect chart pattern. Abnormal price and volume action was in place. Next trading day, the stock gave 1:3 risk reward ratio. After that came down hard but never closed below the low of the consolidation area. Today at the time of writing @ 1.24 volume is coming in again, and price is increasing. So it is positive, and there might be another opportunity. Stop loss is around 1.09, and no target at this time, however may be 2.40 range. So the risk/reward is huge. Play safe.
go long - swing pick- this stock shows signficant delivery percentage value
- possible chances for accumulation
- may perform good in upcoming days
- this stock is picked after market close based on delivery qty data.
- follow this stock for next 5 days , if entry not triggered with in 5 days , ignore pick
- line marked in chart is the day it showed huge delivery percentage.i consider it as signal candle.i marked its high and low
entry
- go long with 1:1.5 RR
- take entry if 15min close crosses the line , ignore entry if it made gap ups
- i prefer entry with in 5 days , if not triggered ignore this pick
sl
- candle close below signal candle's low
target
- keep 1.5 times of sl.