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Wave Analysis

SOLUSDT.1DSOL/USDT daily chart, I notice several key technical indicators and price levels that are crucial for understanding the potential future movements of SOL in relation to USDT. Key Observations: Resistance Levels: 'R1' at $196.95 is currently the significant resistance to watch. This level previously acted as a strong resistance point, indicating potential selling pressure. Support Levels: 'S1' at $159.40 is the immediate support level. This is followed by 'S2' at $133.25 and 'S3' at $109.67, which could play critical roles if the price were to retract further. Current Price Movement: The price trajectory indicates an upward trend approaching 'R1', suggesting a bullish sentiment in the market. Technical Indicators: MACD: The MACD line is above the signal line, indicating bullish momentum. The histogram, however, is showing a decrease in momentum as it approaches zero, suggesting a possible slowdown or reversal of the trend. Price Trend: The ascending movement towards 'R1' along with the potential MACD cooling suggests that while the upward momentum is strong, it might face resistance soon. Strategic Approach: Given the approach towards 'R1' under bullish momentum, my strategy would involve looking for potential buy opportunities on any dips towards 'S1', leveraging the current momentum. A confirmed breakout above 'R1' would further solidify the bullish case, making a target of $200 plausible, near the previous high. Should there be a rejection at 'R1', I would consider taking profits and reassessing the position, keeping an eye on 'S1' for potential re-entry points or further declines to 'S2' if the bearish reversal is strong. Conclusion: The SOL/USDT pair is exhibiting strong bullish signs as it approaches a key resistance level. Traders should monitor these levels closely, especially 'R1' for potential breakout or reversal signals. The MACD and current price levels suggest that while the short-term momentum is bullish, caution around these resistance levels is warranted. As always, maintaining a disciplined approach with appropriate risk management strategies is crucial for navigating these market conditions effectively.
Long
by MarsSignals
ADAUSDT.1DAnalyzing the ADA/USDT daily chart, I can discern several pivotal elements that guide the current trading scenario and could influence future price movements. Key Observations: Resistance Levels: Clearly marked on the chart, 'R1' at $0.3696 stands out as the immediate hurdle for ADA's price. Above this, 'R2' at $0.4188 and 'R3' at $0.4645 are subsequent targets that may act as significant resistance zones should the price continue its upward momentum. Support Levels: The chart indicates 'S1' at $0.2786 as the primary support level, which is crucial for maintaining the current bullish outlook. This level should serve as a strong base, preventing any significant downside. Price Trend: The current trend is upwards, suggesting a bullish sentiment as the price moves towards testing 'R1'. Technical Indicators: Stochastic RSI: This is currently in the upper region, signaling that ADA might be overbought. This can often precede a potential pullback or consolidation phase. MACD: The MACD is below the signal line but is showing a narrowing gap, hinting at a possible bullish crossover in the near future. This could strengthen the case for continued upward movement if confirmed. Strategic Approach: Given the current bullish trajectory and approaching resistance at 'R1', my strategy would be to monitor for a solid breakout above this level with increased volume, which would confirm continued bullish momentum. Should ADA break above 'R1', I would look to target 'R2' while managing risks by moving up stop-loss levels appropriately. Conversely, should the Stochastic RSI's overbought signal lead to a price correction, 'S1' will be critical to watch. A bounce from 'S1' could offer a buying opportunity, while a break below it might necessitate reevaluating the bullish stance for potential shifts to bearish scenarios. Conclusion: The ADA/USDT pair shows promising bullish signs but faces immediate resistance at 'R1'. The strategy should involve readiness for both potential breakout and pullback scenarios, with close monitoring of volume changes and MACD signals to time entries and exits effectively. As always, employing a disciplined approach with predefined risk management tactics is advisable to navigate the potential price swings effectively.
by MarsSignals
ETHUSDT.1Dreviewing the ETH/USDT daily chart, I can identify several critical aspects of Ethereum's price action that are essential for forming a trading strategy. Key Observations: Resistance Levels: The chart shows several distinct resistance levels. The immediate resistance is marked at 'R1' ($2,836.60), followed by 'R2' ($3,034.20) and 'R3' ($3,565.20). These levels have historically acted as barriers where the price faced significant sell-offs. Support Levels: 'S1' at $2,472.28 serves as the nearest support level, offering a potential bounce zone if the current uptrend retraces. Below this, 'S2' at $2,101.09 provides a deeper support level which could be critical in the event of a larger market downturn. Current Price Trend: Ethereum is showing an upward trajectory within a rising channel, suggesting a bullish outlook in the near term. Technical Indicators: Stochastic RSI: Currently in the neutral zone, indicating that there is neither an overbought nor oversold condition, which typically provides room for the price to move in either direction without immediate pressure from RSI extremes. MACD: The MACD line is below the signal line but the gap is closing, indicating potential bullish momentum building up. This could signal an upcoming positive crossover if the trend continues. Strategic Approach: Given the current setup and Ethereum's price approaching 'R1', my strategy would focus on monitoring for a strong break and close above this resistance level. A confirmed breakout could potentially target 'R2', offering a lucrative trading opportunity. Should the price fail to break 'R1' and shows signs of reversal, I would consider 'S1' as a critical level for potential buy orders, assuming the MACD supports continued bullish sentiment. A fall below 'S1' would necessitate reassessment, possibly adjusting to a more defensive position, preparing for tests of 'S2'. Conclusion: Ethereum is currently in a phase that hints at bullish potential, but approaching significant resistance at 'R1'. Observing volume, MACD developments, and price action near this resistance will be crucial in determining the strength of the ongoing momentum. Should a breakout occur, the subsequent resistance levels provide clear targets for taking profits and reassessing positions. Conversely, a retreat from these levels would highlight the importance of the identified support zones. As always, maintaining a balanced view with rigorous risk management is essential to navigating these potential scenarios effectively.
Long
by MarsSignals
1
Bitcoin on track for best monthly gain since MarchBitcoin trades at $72,362 (-0.50%), on track for a stunning 14.3 % gain in October, its largest monthly gain since March 2024. Bitcoin's rally this month has been driven by a supportive risk backdrop, geopolitical uncertainties, and the market's continued pricing in a Donald Trump election victory next week. Bitcoin needs to see a sustained break above resistance at $74,000 (ideally after next week's US election) to confirm the uptrend has resumed towards $80,000.
BITSTAMP:BTCUSDLong
by IG_com
Catching a Falling Knife TradeTechnical: A classic 5 wave pattern down, a large head and shoulders pattern confirmed the massive drop. Price is now stabilizing, we could be in the final stages of Wave 5. Each wave down was a short trade at the 0.5 and 0.618 Fib retracement. It's been a brutal 76% crash since the top. I would like to see a change in market structure as this has been a falling knife and whilst this is going sideways the buying pressure needs to step in. I am therefore watching the earnings and charts closely on this before taking a long position. Fundamentals: Strong Brand Portfolio and Global Presence: Estee Lauder owns a diversified portfolio of premium brands, including MAC, Clinique, and La Mer, which have strong recognition and customer loyalty globally. Its presence in high-growth regions, like Asia-Pacific, gives it a robust international foothold to leverage in emerging markets and adapt to shifting demographics and beauty trends. Focus on Digital Transformation: The company has been investing in digital channels, e-commerce, and data-driven personalization, allowing it to cater directly to consumers with personalized products and marketing strategies. This shift has enabled them to capture a growing share of online beauty sales, which is expected to continue expanding post-pandemic. Exposure to Slowing Luxury Demand: As a luxury brand, Estee Lauder is vulnerable to economic downturns, particularly in the U.S. and Europe. If global economies slow further, discretionary spending on high-end cosmetics could drop, affecting sales and profitability in key markets. Supply Chain and Cost Pressures: Rising costs for raw materials and logistics have impacted Estee Lauder’s operating margins, and the ongoing cost inflation could continue to affect profit margins. Persistent supply chain disruptions also pose risks to product availability and lead times, potentially impacting customer satisfaction and revenue growth. Conclusion: This mix of positives and challenges could position Estee Lauder well for long-term growth but requires navigating through some short-term pressures.
NYSE:EL
by NoFOMO_
2024-10-30 - priceactiontds - daily update - daxGood Evening and I hope you are well. tl;dr Indexes - Many bull trend lines are gone for good. Bears closed at the lows and they desperately need follow through tomorrow. If nq won’t keep the markets afloat tomorrow and drops below 20400, we will likely see a big sell off with 20200 or lower. Dax looks done, clear break of the trend line, swing shorts are juicy here. dax futures comment: Daily chart now looks really bad. Next support is around 19000-19100. If bears fail to generate follow through tomorrow, we could retest the bull trend line even up to 19600 again but as of now I heavily favor the bears to go deep red into the weekend. current market cycle: trading range more likely than start of a bear trend but we only know once we reach 19000 and see if it’s support or not key levels: 19000 - 19800 bull case: Bulls gave up today after the market failed to print a better close yesterday. Since they have been trying to go above 19800 for so long now, I do think many will wait for a deeper pull back to at least 19000 before buying again. They could try to retest the bull trend line up to 19600 but as of now, it’s a stretch. Got not much for the bulls here. Invalidation is below 19000. bear case: Bears now have the best setup in a long time. Clear trend line break and market has tested the highs more than enough. Bears next target is 19000 where we could expect bigger support. 19000 is the previous October low and an exact measured move from the current range down. I will watch futures open in an hour and will likely get on some swing shorts. Invalidation is above 19620. short term: Bearish for 19000 if we stay below 19620. My bullish targets are met with this lower high and trend line break. Expecting a deeper pull back before a year end rally. medium-long term - Update from 2024-10-19: 20000 is the goal for 2024, if bulls do not get it until year end, it will probably not happen for the next 5-10 years. This market is beyond overvalued and will drop 30-50% in the next 5 years. I have no doubts about that. That fact should not be relevant to your trading at all. Right now there is no selling pressure. I am confident that we will hit 17000 in 2025 but timing is more important than price, so let’s not waste brain capital on being bearish for now. current swing trade: None trade of the day: Globex marked the high of the day and market just sold off. 19300 was expected to be bigger support and market showed a decent reaction where one should have covered shorts.
EUREX:FDXSZ2024Short
by priceactiontds
Bitcoin Roadmap!!!Bitcoin ( BINANCE:BTCUSDT ) moved as ✅I expected in the previous post . Bitcoin is moving near the Potential Reversal Zone(PRZ) and the upper line of the ascending channel . According to Elliott's wave theory, Bitcoin is completing wave 3 . I expect the Bitcoin rally will need a Correction to continue near the All Time-High(ATH) . I expect Bitcoin to drop down to the Support zone($72,000-$70,820) and Support line . 🔔Let's first short position, and I will try to update for the long position.🔔 ⚠️Note: If Bitcoin falls below the Support zone($72,000-$70,820), it may fall further.⚠️ Bitcoin Analyze (BTCUSDT), 1-hour time frame⏰. 🔔Be sure to follow the updated ideas.🔔 Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy and updates; this is just my Idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Long
by pejman_zwin
14
GBPCHF BEARISH FOR 80 PIPSTechnical Analysis Factors: Support Level: The pair may have reached a strong support level where buyers saw value, creating a demand zone that halted the downtrend. Look at previous price action and identify historical support levels where price has rebounded in the past. Oversold Conditions: Indicators like the RSI or Stochastic Oscillator could indicate oversold conditions, prompting buyers to step in as prices are deemed undervalued. Fibonacci Retracement: If this is a pullback within a larger trend, an 80-pip bounce might align with Fibonacci levels (like 38.2% or 50%) from a prior move.
Short
by LORDOFTHETRADERS