We all know where you want to go dollar ! To complete my analysis on the US market. Here is my target for the dollar index. The consolidation has to end some time you know. :-)
Consolidation
Bitcoin to 24.8k Consolidation under resistance for BTC on lower time frame - could easily have more left in this run up.
Triangle formation with bottom band extending from previous resistance on prior consolidation.
Push to 24.8k is likely imo.
Cotton prices on the stepping stone?As described here - I see the signs are right for a bullish move in cotton.
UPL- Take Reverse From Support ZoneUPL was moving with the trendline and now it was consolidated nearby the trendline and now it's given a breakout in an upward direction as you can see now. This breakout can give very good risk-reward on a positional basis, traders can also find opportunities on daily basis based on their setup.
Entry Level:- Above @740 (Wait for Retest around 740)
Stop Loss:- Below @708
Target:- Book target based on your entry (For intraday Might be different)
BTC 3DAY BOTTOM THEORYHere I outline my Bitcoin bottom theory, using the 3day chart and the 300ma and 300ema.
When 300ema crosses bearish over 300ma we see consolidation below (bottom), and once the 300ema crosses bullish over the 300ma, we see clear start to next BULL cycle.
What's to come next this cycle? Drop comments below! Thanks for watching and thanks for your time! Please like and follow for more ideas.
Beyond Meat - The Vegan Short SqueezeIf looking at last year's POC of BYND, you can notice we have been oscillating above and below that $15 range since September 2022. BYND has been in this slightly sloping downward/sideways channel with the most recent low being the bottom of the value range, building a nice base for a move higher.
In recent days I've noticed some unusual options activity in a handful of highly shorted names and this is one of them.
Paired with bullish bets on these names with some sizeable money, overall indices this week finished on a strong close going into next week.
Above this $17.00 level on BYND is a volume gap where significantly less volume has traded as only 4 days moved it through this zone last year. These voids can sometimes fill rather quickly when price starts moving back through them. In conjunction with this, LBR MACD has a first cross which can be a long buying opportunity, with an RSI that has recently cooled off from overbought.
Today I opened a long BYND position. This is in anticipation that we test the upper part of the channel again as well as that $17 area, possibly getting into the gap. Mix in the fact that this stock has a float nearly 40% short, with earnings a month away; there could be a short squeeze over the next few weeks in this one.
✅ 4 Methods to Confirm EntriesYou should make sure that your reward is bigger than your risk.
It is up to you what your optimal risk to reward should be – ideally you should have a risk to reward of 1:2 or 1:3.
✔️Trendline Reversal & Break
The trader should constantly monitor both the support and resistance trendlines and redraw them as the old ones break and new ones form.
When an intersection of the projections happens, one of the trendlines must be broken and the other will most likely continue to hold the price.
We trade in the direction of the trendline that remained unbroken with potential entries at the trendline breaks.
✔️Support & Resistance
Look at the price chart and observe the support and resistance levels that you have drawn on the charts.
You will look to place sell orders at the resistance levels and buy orders at the support levels.
Stop loss below the support level or above the resistance level depending the call you’re on.
✔️Fibonacci Retracement
Fibonacci retracement levels connect any two points that the trader views as relevant, typically a high point and a low point.
The percentage levels provided are areas where the price could stall or reverse. These levels should not be relied on exclusively,
so it is dangerous to assume that the price will reverse after hitting a specific Fibonacci level.
✔️Consolidations
A price consolidation is a period when the price is moving sideways without any significant advancement in the upward or downward direction. A price consolidation can take any form.
It could be a rectangular pattern (often called a range), any of the different types of triangle patterns, a rising or falling wedge, a pennant, or a flag.
Depending the pattern that takes place, you’re gonna look for entries and stop loss bellow pattern’s invalidation.
👤 @AlgoBuddy
📅 Daily Ideas about market update, psychology & indicators
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BTC potentially trading in a previous rangeSomewhere between June and November 2022 bitcoin traded more or less in a range (orange area). Not it entered the range again, hitting and bouncing off the top edge of the range (which is now resistance). It could, therefore, trade again in this range if it cannot break this resistance. If, however, this resistance is broken, then we could see a nice move upwards.
Ramco Cement - ready for flat top breakoutRAMCO IS ALL SET FOR FLAT TOP BREAKOUT
Be aware it can give 2-3% in an hour!
Stay tuned!
Has taken support on the line very cleanly!
Bitcoin Bottom Comparison Food for thought - when BTC bottomed in 2019 it gave next to no pullbacks for traders to get involved.
Shallow retracements, reclaiming the ema's and pushing higher with tight bullish consolidation.
Just keep the possibility open in your mind - that if we have seen our potential bottom at this point, it could move fast and leave many sidelined.
Don't fall into absolutes, keep an open mind.
Cheers
watch ETH for a long positionwatch ETH for a long position
hello guys...
as you can see on the chart, ETH makes consolidation and for the last move, starting from 60% of correction of the last leg, and now the price is on top of the range, in my opinion, this pattern happens when the price wanna break the area.
but I don't act based on my prediction, so I am waiting for a break-up, after that, you can take a long position until the green area (as a target).
always do your research.
If you have any questions, you can write them in the comments below, and I will answer them.
And please don't forget to support this idea with your likes and comment
5 Important Points About BTC.D🦍BTC.D or Bitcoin Dominance is one of the most important factors for investors to find out, if it is better to keep more Bitcoin in their bag or Altcoins. Don't forget, it's not all you need to make your decision but it's the important one!
To make a decision about BTC.D, I've checked multiple parameters on weekly time-frame chart, so we dive deep into them one by one. Let's hit it.
#1: Indicators (RSI and MACD) :
MACD is showing a bullish divergence on the chart, that means the bearish momentum is getting weaker. It doesn't mean we're going up, but it means if any bullish power happens we can easily go up because Bears are weak now.
Let's check RSI on the chart, the RSI is completely moving above a ascending trendline (Yellow line). Until we're above it, then BTC.D is good to go up. It looks like RSI is going to touch it's trendline again, if it does, I'll consider it as an important date to check my altcoins to swap with Bitcoin.
#2: Consolidation channel for 1.5 year :
This is a very strong and important channel for BTC.D because it has trapped BTC.D inside of it for more than 1.5 year, and many traders have used it to accumulate more BTC. How? Swap altcoins for Bitcoin in the bottom of the channel and the opposite in the top of the channel.
Now that we're very close to the bottom of the channel so we have to consider swapping again, from Altcoins to Bitcoin. But be careful, you have to check each of your altcoin's chart one by one before making any decision.
#3: Very strong support area (green area) :
At the bottom of our consolidation channel, you can see a green area that is the strongest support area in BTC.D history. Because almost every time BTC.D had reached this level, it has forced BTC.D to move upwards. The overlap of this support area with the bottom of consolidation channel makes me seriously consider to swap most of my altcoins (with capital/risk management) with Bitcoin. SO TAKE BTC.D AROUND 40% SO SERIOUSLY.
#4: BTC.D All Time Low :
It is possible to have a downward fake breakout to 35.4%, because this is BTC.D ATL (all time low). It has happened before, so I'm still bullish on BTC.D unless this area is strongly broken downward. Other than that I believe we're in the BTC.D floor or at least close to it. It means, I prefer Bitcoin to Altcoin for long run as this is a weekly time-frame.
#5: Comparing Bulls and Bears :
I compared last two waves in the consolidation channel, greens from bottom to top and reds from top to bottom. As you can see on the chart, it took 20 candles (week) for bulls to go from bottom to top and 13 candles for bears to cove top to bottom. It means, in last two waves bears we're definitely stronger than bulls and we didn't see enough momentum in bulls.
Although BTC.D is on the floor but my impression is that, BTC.D doesn't have enough momentum to break the channel upwards with one bullish wave. I think we need at least one strong correction in the middle of the road, before upward breakout. This will be my tough about breakout unless we see a super strong momentum when the bulls start pushing BTC.D.
I wanted to add something else about this breakout, no matter when it happens, the target of BTC.D will be something around our green area (58%). So that date, will be a good time to check the market to swap Bitcoin for Altcoins.
Well, this is my analysis on BTC.D, don't forget this is a weekly timeframe, so it is for long-term investors not short-term traders.
Feel free to add up your ideas about my analysis in comment section, I do like to discuss different ideas with you guys to educate ourselves and take the best out of the market.💖
CAD JPY CONSOLIDATION BREAKOUT TO SUPPORTThis video shows the short position that I am now in on the CAD JPY, as I trade the bearish movement now taking place. It is part of the larger 4 Hour Consolidation Setup being formed.
Entry took place on the 1 Hour Chart with the break of the Consolidation Channel that is expected to take us to the Support of the Consolidation Channel on the 4 Hour Chart.
IDXX - broke out of consolidationIDXX had a strong move last Friday on high volume that brought it to the top of it's 2 months consolidation range high of 447.80. The following Monday (9 Jan),it formed a little Doji Candle just slightly above this level , perhaps traders were still skeptical if this break was for real. The day after, on 10 Jan, it staged another decisive move higher, increasing the probability that this move could have momentum.
Initial Stop Loss should be placed slightly under the last candle's low @ 438 (abt 7% downside from yesterday's close). The stock could face strong resistence if and when it manage to reach around 535 - 550.
Earnings are expected out on 1st Feb, hence it might be prudent to reduce positions or take profits prior.
Disclaimer: Just my 2 cents and not a trade advice. I may or may not have entered into this Trade. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
EDELWEISS - Bullish Consolidation BreakoutNSE: EDELWEISS is closing with a bullish candle supported with volumes.
Today's volumes and candlestick formation indicates strong demand and stock should move to previous swing highs in the coming days.
The stock has been consolidating for the past few days which is indicating demand.
One can look for a 8% to 12% gain on deployed capital in this swing trade.
The view is to be discarded in the event of the stock breaking previous swing low.
#NSEindia #Trading #StockMarketindia #Tradingview #SwingTrade
Disclaimer:
This is for educational purposes only.
SAFARI - Bullish Reversal BreakoutNSE: SAFARI is closing with a bullish candle supported with volumes.
Today's volumes and candlestick formation indicates strong demand and stock should move to previous swing highs in the coming days.
The stock has been consolidating for the past few days which is indicating demand.
One can look for a 8% to 11% gain on deployed capital in this swing trade.
The view is to be discarded in the event of the stock breaking previous swing low.
#NSEindia #Trading #StockMarketindia #Tradingview #SwingTrade
Disclaimer:
This is for educational purposes only.
GOLD SHORT TERM INTRADAY IDEAXAUUSD CHART
Gold has made a clean run up over the last week due to fundamentals and technicals in play. However, we have approached a weekly resistance whereby we are seeing forms of exhaustion on the higher timeframe which is expected. There's a possible shift in structure as lower lows and lower highs are forming. I am favoring shorts as of now however as price is still very bullish, i will wait for more confirmations.
Safer shorts will be below 1867 upon the breakout of the 4hr consolidation zone to retest 1860 again which will net us estimate 70 pips
Safer buys will be above 1881 key level. Upon a break above 1881, i can see us heading to 1890 key level possibly to 1900 psychological level.
TARGET PREDICTION!!!!! (SHORT)DESCRIPTION: In the chart above I have provided a macro analysis on what can be the potential path that price action will follow with current ongoing bearish momentum.
POINTS:
1. Price Action is in an overall downtrend channel.
2. Within this falling channel we have consolidation occurring with bearish trajectory as seen in the image to the top left in the top right example.
3. We have seen a BREAKOUT to the $139 range recently and if we come to see PULLBACK in the $156 range this would confirm a downward move.
*IMPORTANT: PULLBACK POINT COINCIDES WITH TOP OF CHANNEL, SUPPLY FLOOR & 100 & 50 MA.
SCENARIO #1: If price action is to lose $125 we will most certainly see a continuation of current bearish momentum which will then place us in the the follow SUPPLY & DEMAND POCKET OF $125 - $75.
*NOTE: $125 -$75 SUPPLY & DEMAND POCKET HAS PROVEN TO HAVE WEAK PRICE ACTION IN THE PAST.
SCENARIO #2: If price action is to move onto a bullish scenario it is crucial we hold $140 and see enough consolidation in order to invalidate current setup.
NYSE:TGT
NIO PENDING REVERSAL (UPDATE)DESCRIPTION: In the chart above I have provided a macro analysis update for my previous prediction for NIO.
POINTS:
1. Adjusted pockets for SUPPLY & DEMAND: 1ST LEVEL = $14 - $24 & 2ND LEVEL = $33 - $43.
2. SUPPLY & DEMAND POCKETS do in fact show a common deviation of 10 points of spread.
3. Current $9.50 is serving as CRITICAL SUPPORT that is broken would invalidate entire setup.
4. If we come to see a continuation of this sideways consolidation between $9.50 & $14 price action will begin to squeeze for bullish divergence.
5. More than covered gap from early July 2020.
Scenario #1: Bullish scenario can mean we see price action move into 1ST LEVEL SUPPLY & DEMAND ZONE as we invalidate bearish trend.
Scenario #2: Bearish scenario can mean we break below our critical support of $9.50 and fall to $6.00.
NYSE:NIO
Weekly Outlook - NFP!! (Ending 010623)First, it is NFP week. The Market is more unpredictable because manual intervention will take place. Please be aware of this when trading.
Second, I'm looking for Consolidation, Manipulation, then Distribution. Initially, the market has consolidated. Next, it will drive higher, liquidating all the Bears' Shorts built in (the three levels I noted) and making the Bulls trigger happy to provoke Long positions. After their positions are built in, the market will reverse and liquidate their Stop Loses below 3780.
Stay Tuned...
Weekly Review (Ending 123022)This past week was the last week of trading for the year and man, did it feel like it. The first two days of the week, Tues. and Wed., were clean. I noted earlier in the week that I wanted to see 3780 as an objective but, after being wrong analysis, the Daily Time Frame told a different story. It is at Equilibrium, which Price is likely to consolidate. So, with it being the last trading week of the year and Price being at Equilibrium, It was more likely for Price to have a Consolidation Weekly Profile.
Green Check = Correct Bias
Red X = Wrong Bias
Grey Circle = No Bias/Did not trade/Neutral
A bullish pattern unfoldingA consolidation pattern appeared in our model and this is amazing because this is a 2 years consolidation pattern which is quite rare to see.
Consolidation phases in the stock market refer to periods of time when the price of a particular stock or the overall market is relatively stable and not showing significant trends in either direction. These phases can be seen as a "pause" in the market's overall trend, and they can last for varying amounts of time. Consolidation phases can occur in both bullish and bearish markets.
In a bullish market, consolidation phases may be viewed as an opportunity for traders to take a break from buying and selling, or to reassess their positions and make any necessary adjustments. Some traders may see consolidation phases as an opportunity to buy into the market at a lower price, while others may choose to hold onto their existing positions until the market starts to trend upward again.
It is important to note that consolidation phases do not necessarily indicate a change in the market's overall trend. In a bullish market, for example, the market may continue to trend upward even if there are periods of consolidation along the way. As such, it is important for traders to use other forms of analysis, such as fundamental analysis, to determine the market's overall direction and make informed trading decisions.
Finally, this consolidatio phase is clearly limited by an upper trendline which could help us to trade this pattern.
If you buy in the consolidation pattern you can be trapped for months in a choppy market, but if you buy once the upper side has been broke, you can enjoy a fast rally with more probabilities. The zone between 1750 and 1800 looks great to take profits.
ARVSMART - Breakout after consolidation Long setupAs per price action, you can see clearly it has given a breakout with volume after 5 months of consolidation. So the probability is high to keep momentum and price go up by around 10%. according to my analysis entry should be above @325 and for reward wait to touch 10-15%.
Entry Price:- Above @ 325
Stop Loss:- below @299
Target:- 10-15%
