Short Position for BitcoinPossible Head and Shoulders forming on higher timeframe, lets see how it plays out.
Volume
Technical Analysis of Gold Spot (XAU/USD) - 1H ChartThe chart reflects a bullish continuation with the price currently trading near $2,713, having broken above key levels of resistance. The market appears to be consolidating above $2,706 (NY Midnight Open), signaling a potential continuation or a pullback before the next move. Below is a detailed analysis of bullish and bearish scenarios with probable entry and exit points.
Key Observations
Trend Overview:
Price is in a strong uptrend, with higher highs and higher lows observed on the chart.
The breakout above $2,706 confirms bullish momentum, with the next major resistance at $2,758.
Support Levels:
$2,706–$2,708: Immediate support zone, aligned with the NY Midnight Open level.
$2,680–$2,685: Secondary support zone, marking the prior breakout area.
$2,661–$2,663: Key demand zone where strong buying activity occurred earlier.
Resistance Levels:
$2,713–$2,718: Immediate resistance zone currently being tested.
$2,740–$2,745: Major resistance zone and breakout target for continued bullish momentum.
$2,758–$2,760: Extended resistance zone, marking the final bullish target.
Volume Analysis:
Buy Volume (3.499M) vs. Sell Volume (878.6K): Indicates strong buying pressure driving the current uptrend.
Delta Volume (119.72%): Suggests buyers remain in control despite some profit-taking at higher levels.
Bullish Scenario
Conditions for a Bullish Move:
Price must sustain above the $2,706–$2,708 support zone and break through $2,718 with strong volume.
Continued buying pressure would likely push the price toward higher resistance levels.
Entry Points:
Aggressive Entry: Buy near the $2,706–$2,708 support zone, with a stop-loss below $2,700.
Conservative Entry: Enter after a confirmed breakout and retest above $2,718, with a stop-loss below $2,710.
Exit Points (Take Profit):
First Target: $2,740 (key resistance zone).
Second Target: $2,758 (extended bullish target).
Final Target: $2,760 (major resistance zone).
Invalidation:
A breakdown below $2,700 would invalidate the bullish scenario.
Bearish Scenario
Conditions for a Bearish Move:
Price fails to break above $2,718, indicating rejection at resistance.
A confirmed breakdown below $2,706 would signal bearish momentum.
Entry Points:
Aggressive Entry: Short near $2,713, with a stop-loss above $2,720.
Conservative Entry: Enter short after a confirmed breakdown below $2,706, with a stop-loss above $2,712.
Exit Points (Take Profit):
First Target: $2,685–$2,680 (secondary support zone).
Second Target: $2,663 (key demand zone).
Final Target: $2,661–$2,660 (extended bearish target).
Invalidation:
A breakout above $2,720 would invalidate the bearish scenario.
Key Indicators to Monitor
Volume Dynamics:
Increasing buy volume above $2,713 will confirm bullish continuation.
Rising sell volume near $2,718 could indicate rejection and a potential pullback.
Breakout or Breakdown Confirmation:
A breakout above $2,718 signals further bullish continuation toward $2,740 or higher.
A breakdown below $2,706 would signal bearish momentum and potential correction.
Candle Structure:
Sustained bullish candles with minimal upper wicks signal continuation.
Reversal candles with long upper wicks near resistance indicate selling pressure.
Summary of Probable Entry & Exit Points
Scenario Entry Zone Stop-Loss Target Levels
Bullish $2,706–$2,708 (Aggressive) or above $2,718 (Conservative) $2,700 $2,740, $2,758, $2,760
Bearish $2,713 (Aggressive) or below $2,706 (Conservative) $2,720 $2,685, $2,663, $2,660
Conclusion
Bullish Outlook: Sustained buying above $2,718 could push the price toward $2,740–$2,760.
Bearish Outlook: Rejection at $2,718 or a breakdown below $2,706 could trigger a pullback toward $2,685–$2,660.
Traders should monitor price action and volume near $2,718 resistance and $2,706 support for confirmation of the next move. Tight stop-losses are essential to manage risk in this breakout/pullback scenario.
KARRATUSD 12/2/2024KARRATUSD Daily Chart Analysis
The chart for KARRATUSD suggests a bullish opportunity with strong technical confirmations. Here’s the breakdown:
Key Observations
1. Bottom Formation and Breakout:
- Price formed a bottom in September 2024.
- The breakout from that formation saw a volume spike and expanding MACD momentum,
resulting in a price surge of just over 100%.
2. Consolidation Phase:
- After the surge, price consolidated into a symmetrical triangle pattern spanning October
through November.
3. December Breakout:
- To start December, price has broken out of the triangle pattern.
- The breakout is validated by:
- Increased volume.
- Expanding MACD momentum, confirming strength in the move.
Trade Details
- Position: Long
- Entry: 0.5627
- Stop Loss: 0.4946 (12.10% risk)
- Initial Target: 0.8133 (44.54% potential return)
- Risk-to-Reward Ratio: 3.68
This setup provides a strong risk-to-reward ratio, supported by clear technical patterns and momentum indicators.
ACSUSD 12/6/2024ACSUSD Daily Chart Analysis
Overview:
After topping out between March and April 2024, ACSUSD experienced a steep downtrend, respecting the 50-day and 200-day EMAs until late October 2024. However, a reversal began in early November with strong signals pointing to bullish momentum.
________________________________________
Key Observations:
1. Reversal Pattern:
o On November 4th and 5th, a Tweezer Bottom pattern formed, signaling a potential trend reversal.
o Confirmation came the following day, supported by a significant volume spike.
2. Breakout and Pullback:
o November 10th saw a massive +60% move, breaking through the 50-day EMA and briefly surpassing the 90-day EMA.
o Price has since retraced below the 90-day EMA but holds firm at the 50-day EMA, establishing it as support.
3. Bullish Structure:
o A trendline has emerged, guiding price upwards alongside support from the 10-day EMA.
o Volume remains elevated, and the MACD continues to trend higher in bullish territory, further validating upward momentum.
4. Current Setup:
o Price is sitting at a confluence of supports (trendline and 10-day EMA), presenting a strong risk-reward entry point.
________________________________________
Trade Plan:
• Entry: 0.0021550
• Stop Loss: 0.0017915 (-16.87%)
• Target #1: 0.0032318 (+49.98%, 2.96 RR ratio)
• Target #2: 0.0044041 (+104.99%, 6.32 RR ratio)
________________________________________
This setup aligns with a continuation of bullish momentum, supported by technical indicators and favorable market conditions.
NZDJPY is all set to continue its upward movement! The price is moving within an ascending channel and has just hit the lower limit again, bouncing back up and forming a bullish candlestick with a long lower wick and a small body. This suggests that sellers have made another unsuccessful try to change the trend, even creating a higher low that backs up the uptrend. The price is also bouncing off the 50% Fibonacci retracement level. NZDJPY is moving towards the major volume activity price range around 90.5. On top of that, volume analysis backs this up, indicating that buyers are getting stronger and ready to push the price up.
Time Frame: daily
Idea support:
- Price action
- Volume Analysis
- Trend analysis
EURAUD is all set to continue its downward movement! The price is moving down within a descending channel. Right now, it bounced off the upper boundary and hit a key weekly resistance. A candlestick pattern with a long upper wick and a small body has formed. Plus, there's a rising wedge on the 4-hour chart. A short trade looks good based on price action and backed by volume analysis, which clearly shows a clear exhaustion of buyers.
Time Frame: daily
Idea support:
- Price action
- Volume Analysis
- Trend analysis
#JUBILANT FOODWORKS LTD#JUBLFODD Make Rounding Bottom Chart Pattern
Buy - If daily price close above 715
Stop Loss - 630
Target - 875
Duration - 2 to 3 Month
Fibonacci Trend Trading Strategy for NVIDIA (NVDA)Objective:
To capitalize on the momentum following a breakout or breakdown from key Fibonacci levels, particularly focusing on the 0.764 level which NVDA has recently broken down from.
Strategy Outline:
Setup:
Timeframe: Daily chart for broader trend analysis.
Indicators: Fibonacci retracement levels (0, 0.236, 0.382, 0.5, 0.618, 0.764, 1.0).
Lookback Period: 90 days for calculating Fibonacci levels.
Entry Conditions:
Long Position:
Enter when the price crosses above the 0.236 Fibonacci level after a recent dip below 0.764, indicating a potential reversal or strong bullish momentum.
Short Position:
Enter when the price breaks below the 0.764 level, as seen in your chart, signaling a strong bearish trend or continuation of the downtrend.
Exit Conditions:
Long Exit:
Exit if the price breaks below the 0 level or shows signs of reversing back below the 0.236 level.
Short Exit:
Exit if the price breaks above the 1.0 level or shows signs of reversing back above the 0.764 level.
Risk Management:
Stop Loss:
For longs, place a stop loss just below the 0.236 level.
For shorts, place a stop loss just above the 0.764 level.
Position Sizing:
Adjust based on your risk tolerance, but typically, risk no more than 1-2% of your trading capital per trade.
Additional Confirmation:
Use RSI (Relative Strength Index) for confirmation:
For longs, ensure RSI is not in the overbought territory (>70).
For shorts, ensure RSI is not in the oversold territory (<30).
Trade Execution:
Long:
Execute buy order when the price closes above the 0.236 level with a confirmed upward trend.
Short:
Execute sell order when the price closes below the 0.764 level, confirming the bearish trend.
Monitoring:
Regularly monitor the positions for any unexpected news or volume spikes which could affect the stock's movement outside of the technical setup.
Strategy Rationale:
The Fibonacci levels provide clear support and resistance zones which are crucial for trend analysis.
Breaking below a significant level like 0.764 often indicates a strong bearish sentiment, while bouncing back from such levels could signal a bullish reversal.
Using RSI helps in avoiding false breakouts or breakdowns by ensuring the market isn't already overbought or oversold.
This strategy leverages both technical analysis and risk management to trade NVIDIA based on its recent price action against Fibonacci levels, aiming for high probability setups with defined risk parameters.
Technical Analysis of Gold Spot (XAU/USD) - 1H ChartThe chart reflects a bullish rally, with price now testing resistance at $2,693 after breaking out of consolidation near $2,675. The key levels and volume dynamics suggest potential continuation or a pullback before the next significant move. Below is a detailed analysis of the bullish and bearish scenarios.
Key Observations
Trend Overview:
The price is in an uptrend, breaking out of prior consolidation and establishing higher highs and higher lows.
The NY Midnight Open at $2,698 is acting as a short-term resistance pivot.
Support Levels:
$2,675–$2,677: Immediate support zone, aligned with the breakout level.
$2,662–$2,665: Secondary support level, also the prior consolidation range.
$2,624–$2,626: Major demand zone, where strong buy-side activity occurred.
Resistance Levels:
$2,693–$2,698: Immediate resistance zone, currently being tested.
$2,713–$2,720: Key resistance level and breakout target for bullish continuation.
$2,740–$2,760: Extended resistance zone, marking an ultimate bullish target.
Volume Analysis:
Buy Volume (3.061M) vs. Sell Volume (508.77K): Indicates strong buying activity driving the rally.
Delta Volume (143%): Suggests dominance of buyers, with sell-side absorption near resistance.
Bullish Scenario
Conditions for a Bullish Move:
Price must break above the $2,693–$2,698 resistance zone with strong volume.
Sustained buying pressure above $2,698 will confirm bullish continuation.
Entry Points:
Aggressive Entry: Buy near the $2,675–$2,677 support zone, with a stop-loss below $2,670.
Conservative Entry: Enter on a confirmed breakout and retest above $2,698, with a stop-loss below $2,690.
Exit Points (Take Profit):
First Target: $2,713 (key resistance zone).
Second Target: $2,740 (extended bullish target).
Final Target: $2,760 (major resistance zone).
Invalidation:
A breakdown below $2,670 would invalidate the bullish scenario.
Bearish Scenario
Conditions for a Bearish Move:
Price fails to break above $2,698, indicating rejection at the resistance.
A confirmed breakdown below $2,675 would signal bearish momentum.
Entry Points:
Aggressive Entry: Short near $2,693, with a stop-loss above $2,700.
Conservative Entry: Enter short after a confirmed breakdown below $2,675, with a stop-loss above $2,685.
Exit Points (Take Profit):
First Target: $2,662–$2,665 (secondary support zone).
Second Target: $2,624 (major demand zone).
Final Target: $2,595 (extended bearish target).
Invalidation:
A breakout above $2,700 would invalidate the bearish scenario.
Key Indicators to Monitor
Volume Behavior:
Increasing buy volume above $2,693 confirms bullish strength.
Rising sell volume near $2,698 signals potential rejection.
Breakout/Breakdown Confirmation:
A breakout above $2,698 signals bullish continuation.
A breakdown below $2,675 signals bearish reversal.
Heikin Ashi Candles:
Sustained green candles with larger bodies confirm bullish momentum.
Red candles with long upper wicks near resistance indicate selling pressure.
Summary of Probable Entry & Exit Points
Scenario Entry Zone Stop-Loss Target Levels
Bullish $2,675–$2,677 (Aggressive) or above $2,698 (Conservative) $2,670 $2,713, $2,740, $2,760
Bearish $2,693 (Aggressive) or below $2,675 (Conservative) $2,700 $2,665, $2,624, $2,595
Conclusion
Bullish Outlook: A breakout above $2,698 could lead to a rally toward $2,713 or higher.
Bearish Outlook: Rejection at $2,698 or a breakdown below $2,675 could trigger a decline toward $2,665–$2,595.
Traders should closely monitor price action at the $2,698 resistance and $2,675 support levels for confirmation of the next move. Managing risk with tight stop-losses is essential in the current breakout/rejection scenario.
AAVE and ONDOHello traders and investors!
It's time for a correction in crypto assets. I've selected two assets that look stronger than the market.
AAVE
On the daily timeframe, there is an uptrend. There was a false breakout of the level marking the start of the last buyer's impulse – 240.05.
On the hourly timeframe, there is a sideways range, and the buyer's vector 9-10 is active.
You can look for buy opportunities with targets at 300 (288, 297).
ONDO
On the daily timeframe, the buyer has formed an impulse. There was a small correction, during which a buyer's zone formed yesterday (green rectangle on the chart). The level of the daily test, 1.61094, passes through this zone.
On the hourly timeframe, the price formed a range. The buyer’s vector moved above the upper boundary of 1.68925, but the buyer returned the price to the range, forming a seller’s zone at the top of the range (red rectangle on the chart) and hit the daily test level of 1.61094.
You can look for buy opportunities with targets at 1.95 and 2.0, preferably from the buyer's defense at 1.61094 or 1.46712 if the price returns to those levels.
Good luck with your trading and investments!
XAGUSD. Trading opportunityHi traders and investors!
Overall, nothing particularly interesting is happening in the market from a daily timeframe perspective. If we don't delve into lower timeframes to look for trades, silver can be considered.
Daily Timeframe Analysis
On the daily timeframe, the price has formed a range that began in April. The upper boundary is 32.5185, and the lower boundary is 26.0185. The seller's vector 9-10 is relevant, with a potential target of 26.471 (26.0185). The price has reached the level of 32.16, where the seller might resume (see previous posts). Below, a buyer’s zone has formed with an upper boundary of 31.478, what could become an obstacle for the seller.
4H Timeframe Analysis
On the 4-hour timeframe, the price has also formed a range. The upper boundary is 31.5365, and the lower boundary is 29.643. The buyer’s vector 9-10 has moved beyond the upper boundary of the range.
If the seller returns the price into the range (below 31.5365) and defends this return, the seller’s vector 10-11 will be relevant, with a potential target of 30.3165 (29.643).
If the buyer defends the breakout from the range, the potential target is to update the local high (31.286) and reach 31.5185 (the range boundary on the daily timeframe).
From my subjective point of view, the daily timeframe currently favors the continuation of the buyer's movement. However, a correction down to 30.3165 is possible.
Good luck with your trading and investments!
Bitcoin - 3 DivesLooks like we are flushing out Longs and trapping shorts
Formation of Dives:
a clear downward movement reaches a low.
another dip forms, slightly lower than the first.
the final dive happens, testing the same support level
Volume Behavior: Volume appears to diminish with each successive dive, which aligns with the typical characteristics of this pattern.
Support Level: The third dive coincides with the ascending channel's lower trendline, reinforcing the strength of this support level
The weekly chart of Aditya Birla Capital Ltd
The weekly chart of Aditya Birla Capital Ltd. (ABCAPITAL_1W) on the NSE showcases a significant trendline that has been acting as a robust support level. This trendline, drawn from the lows of late 2022 to mid-2023, has been a critical area where the price has oscillated multiple times, indicating its importance as a support zone.
Recently, the price approached this trendline, testing it multiple times with several candlesticks closing near or on this line. The last few weeks have seen the price bouncing off this support, with three consecutive green candles indicating a potential reversal or at least a pause in the downtrend. This series of green candles suggests renewed buying interest as investors might see this trendline as a buying opportunity.
Today, the price broke through this trendline, which could signal either a continuation of the downtrend if the price closes below this line or a false breakout if it quickly reverses back above it. Given the recent green candles and the historical significance of this trendline, there's a possibility that this could be a buying opportunity for those who believe in the stock's long-term potential.
Volume analysis shows a spike in trading activity around the time the price touched the trendline, which often indicates increased market interest and could precede a significant move. If the price sustains above this trendline, it might attract more buyers, potentially leading to an upward trend. Conversely, if it fails to hold above the line, it could see further declines.
Overall, the chart suggests that the trendline has been a critical level for ABCAPITAL, and its recent interaction with this line could be pivotal for short-term traders and long-term investors alike.
Intraday Levels for Nasdaq 100 Futures - 12/10/2024This analysis focuses on the Nasdaq 100 Futures, aiming to identify potential support and resistance levels where the price could experience intraday bounces or trend reversals, as well as zones where the price might potentially break higher or move lower.
Considerations
The range used in this analysis serves only as a reference for broader-level insights.
For intraday operations, it is advisable to utilize a lower timeframe to refine entry and exit points more accurately.
To confirm the validity of these levels, it is essential to evaluate real-time conditions as the price approaches these zones. Factors such as pressure, trading volume, and Order Flow will play a critical role in determining whether these supports hold or are likely to be broken.
GBPUSD Short On Higher US CPITrade idea
Continue longer term GBPUSD downside with diverging macroeconomic data's and central bank policy. Entering trade if USD CPI comes in higher to support USD strength.
Fundamentals
GBP - The BoE has cut rates from the high of 5.25% to the current rate of 4.75% with more MPC members voting for a cut than anticipated. Inflation is holding around the target rate, currently at 2.3% with an increase in unemployment to 4.3% (previously 4%). PMI's and GDP have also seen lower readings in recent months, all of which supporting the continuation of the BoE's rate cutting cycle.
USD - The FED has been matching the BoE with the pace of the interest rate cuts but they have continued to stress the fact that they are data dependant and will hold rates if necessary. The hawkish undertones and the effects of the "Trump trade" had seen USD strength considerable over recent weeks. US CPI has increased from 2.4 to 2.6% with tomorrows release due to rise again, NFP increased more than expected along with PCE and PPI.
Trigger - Along with the technical setup below, I will be looking for the potential to place a short order beneath technical levels ahead of the US CPI. If this data comes out stronger to further support the GBPUSD short the order will be triggered. If CPI is softer, the order will be cancelled.
Technical Setup
4hr
- Clear trend lower with 200 EMA confirming trend direction
- Retracement back into a 50-61.8% fib level, 1.28000 psychological round number
- 200 EMA acting as dynamic resistance
- Weekly volume profile cave filled and acting as resistance
1hr
- Counter trendline and channel with price most recently failing to reach the channel high, possibly indicating counter trend weakness.
- Unconfirmed double top price pattern, breakout lining up with counter trendline
- 14 period RSI showing bearish divergence
Order placement will be below counter trendline breakout ahead of CPI release with the stoploss behind the swing high and a target at the recently swing long with potential to extend.
If the level breakout before CPI wait for entry, if CPI comes in lower than expected remove order.
Technical Analysis of Gold Spot (XAU/USD) - 1H Chart (Heikin AshThe chart depicts a recent breakout above consolidation, with price now trading near $2,665, slightly below a key resistance zone. The liquidity void near $2,662–$2,713 and prior accumulation near supports indicate a potential continuation or reversal scenario. Below is a detailed analysis with probable bullish and bearish scenarios.
Key Observations
Trend Overview:
Price has broken out of a consolidation phase, rallying toward the $2,665 level.
The liquidity void around $2,662–$2,713 represents unfilled orders, making this zone a potential resistance area.
Support Levels:
$2,624–$2,626: Immediate support zone, previously held during the consolidation phase.
$2,613–$2,615: Secondary support zone and the breakout origin.
$2,595–$2,600: Strong demand zone where buyers aggressively stepped in earlier.
Resistance Levels:
$2,662–$2,665: Immediate resistance zone, where price is currently testing.
$2,711–$2,713: Major resistance zone aligned with unfilled orders in the liquidity void.
$2,740–$2,760: Extended resistance zone for bullish continuation.
Volume Analysis:
Buy Volume (2.69M) vs. Sell Volume (431.3K): Reflects dominant buying pressure, leading to the breakout.
Delta Volume (10%): Indicates increasing buy interest at higher levels.
Bullish Scenario
Conditions for a Bullish Move:
Price must break above the $2,665–$2,667 resistance zone, clearing the liquidity void.
Sustained buying pressure above $2,667 will likely drive the price toward higher resistance levels.
Entry Points:
Aggressive Entry: Buy near the current level ($2,662–$2,665), with a stop-loss below $2,655.
Conservative Entry: Enter after a breakout and retest above $2,667, with a stop-loss below $2,660.
Exit Points (Take Profit):
First Target: $2,711 (key resistance zone).
Second Target: $2,740 (extended bullish target).
Final Target: $2,760 (major resistance).
Invalidation:
A breakdown below $2,655 would invalidate the bullish scenario.
Bearish Scenario
Conditions for a Bearish Move:
Price fails to break above $2,665, indicating rejection at the resistance.
A confirmed breakdown below $2,655 would signal bearish momentum.
Entry Points:
Aggressive Entry: Short near $2,665, with a stop-loss above $2,670.
Conservative Entry: Enter short after a confirmed breakdown below $2,655, with a stop-loss above $2,662.
Exit Points (Take Profit):
First Target: $2,624–$2,626 (immediate support zone).
Second Target: $2,613 (breakout origin).
Final Target: $2,595 (extended bearish target).
Invalidation:
A breakout above $2,670 would invalidate the bearish scenario.
Key Indicators to Monitor
Volume Behavior:
Increasing buy volume above $2,662 confirms bullish strength.
Rising sell volume near $2,665 signals potential rejection.
Breakout/Breakdown Confirmation:
A breakout above $2,667 confirms bullish continuation.
A breakdown below $2,655 confirms bearish pressure.
Heikin Ashi Candles:
Sustained green candles with larger bodies signal continued buying.
Red reversal candles with long wicks at resistance confirm bearish rejection.
Summary of Probable Entry & Exit Points
Scenario Entry Zone Stop-Loss Target Levels
Bullish $2,662–$2,665 (Aggressive) or above $2,667 (Conservative) $2,655 $2,711, $2,740, $2,760
Bearish $2,665 (Aggressive) or below $2,655 (Conservative) $2,670 $2,626, $2,613, $2,595
Conclusion
Bullish Outlook: A breakout above $2,667 could lead to a rally toward $2,711 or higher.
Bearish Outlook: Rejection at $2,665 or a breakdown below $2,655 could trigger a decline toward $2,613–$2,595.
Monitor price action at the $2,662–$2,667 resistance zone and $2,655 support level for confirmation of the next move. Manage risk with tight stop-losses, especially in this breakout/reversal scenario.
GnonReady for pump again...
Hello, with the breaking of the trend line, it will reach the ceiling of the channel, and with the breaking of the ceiling, a big pump is on its way. This currency is very risky and you must accept the risk.
GOLD is setting up for a Play! We not trying to miss!Been waiting on price to break outside of value. It finally moved outside of it and is now starting to accept higher prices. So we are looking for the bulliishness to continue. we share wait for the Killzones for proper entry!
Flip play Crown’s Fiber Optics division secured new FTTH purchase orders, expanding their footprint in Oregon. $8 million deal overall debt to Financials look okay dilution can still be at play here pretty oversold see if the weekly rsi can tap the 0 range
Double BottomGood volume buildup in daily timeframe.
Double bottom Breakout with good volume.
Fundamentals are good.
FII stakes are up.
NOTE: I do my analysis, do yours before trade.
Gold Trading Secrets: Expert AnalysisAlexGoldHunter FXOPEN:XAUUSD Technical Analysis and Strategies for Gold (XAU/USD)
Chart Analysis
Price Levels and Candlesticks:
Current Price: 2,633.24 USD
Open: 2,631.51 USD
High: 2,645.63 USD
Low: 2,613.61 USD
Close: 2,633.24 USD
Support and Resistance Levels:
Swing High: 2,656.84 USD
Swing Low: 2,609.53 USD
Previous Day High (pD High): 2,645.63 USD
Previous Day Low (pD Low): 2,613.61 USD
Key Support Level: 2,580.28 USD
Key Resistance Level: 2,733.41 USD
Moving Averages:
Red Line (50-day MA): Around 2,580.28 USD
Blue Line (200-day MA): Around 2,503.15 USD
Volume:
Notable increase in volume towards the end of the chart, suggesting higher trading interest.
Annotations:
BoS (Break of Structure): Indicates a significant price movement breaking a previous structure.
MSS (Market Structure Shift): Indicates a change in the market trend.
Equal Highs: Indicates a resistance level where the price has tested multiple times without breaking through.
Buy Strategy with Confirmations
Entry Point:
Look for a breakout above the Swing High at 2,656.84 USD with strong volume confirmation.
Alternatively, consider buying near the support level at 2,580.28 USD if the price shows a bullish reversal pattern (e.g., bullish engulfing, hammer).
Confirmation:
Ensure the breakout is accompanied by higher-than-average volume.
Confirm with technical indicators such as RSI crossing above 50 or MACD showing a bullish crossover.
Stop Loss:
Place a stop loss below the recent swing low at 2,609.53 USD for a breakout trade.
For a support level trade, place a stop loss below the key support at 2,580.28 USD.
Take Profit:
Set initial take profit at the next resistance level around 2,733.41 USD.
Consider trailing the stop loss to lock in profits as the price moves in your favor.
Sell Strategy with Confirmations
Entry Point:
Look for a breakdown below the support level at 2,580.28 USD with strong volume confirmation.
Alternatively, consider selling near the resistance level at 2,733.41 USD if the price shows a bearish reversal pattern (e.g., bearish engulfing, shooting star).
Confirmation:
Ensure the breakdown is accompanied by higher-than-average volume.
Confirm with technical indicators such as RSI crossing below 50 or MACD showing a bearish crossover.
Stop Loss:
Place a stop loss above the recent swing high at 2,656.84 USD for a breakdown trade.
For a resistance level trade, place a stop loss above the key resistance at 2,733.41 USD.
Take Profit:
Set initial take profit at the next support level around 2,503.15 USD.
Consider trailing the stop loss to lock in profits as the price moves in your favor.
This analysis provides a comprehensive view of the chart and outlines potential buy and sell strategies with confirmations. If you need further assistance or have any other requests, just let me know! 😊
link-- long call
I see overall volume decrease, in addition to that the sellers has a diminished downward result--- a suggestion for seller absorption in the background. i want to see the price behavior around the resistance area.
