The pair is trading near the massive 5 year downtrend resistance. These ones don't get broken easily, let alone in one go.
Therefore, our target trade is a short. However, there is a small horizontal resistance right below it, and the bullish triangle that is now forming is signaling that the market is preparing to break it.
TRADING PLAN:
Wait for a breakout...
1) Bullish impulsive move on a higher time frame followed by a correction phase
2) Double bottom
3) Broken structure with New Higher High
4) The price might be moving sideways until it touches the trendline
We present you with our selection from the open-source indicators published this month on TradingView. These scripts are the ones that caught our attention while analyzing the two thousand or so scripts published each month in TradingView's Public Library, the greatest repository of indicators in the world. If we missed any, please let us know. Most of these...
Pre-market, we see yet ANOTHER large leg up for TSLA. At this point, it seems there is little to any resistance here (breaking outside previous channel trendlines.
Notable: Telsa is now far above its 50, 100, and 200-day moving averages. Next stop?
H4 - We have a key resistance zone that has formed by the 100% (1778.34) fibonacci expansion level of the first wave and the 61.8% (1794.43) fibonacci expansion level of the second wave.
The price which was moving higher reached this key resistance zone, respected it and is currently holding below it. Bearish divergence.
H1 - We had the first leg to the downside...
💡Hello traders,
Hope you are having fantastic summer and also are finding time for trading as well :)
I will really apricate any likes and follows, that would help grow this channel.
We made some nice pips with this pair last week. Now price again is at the same support line and if rejected we are going to look for Long positions.
Let us know what you think...
Bullish Pennant on weekly plain and simple to see.
Over 75% filled.
If we don't break out to upside this time around and retest that resistance line, well then expect low 5ks again.
Trading plan done.
After yesterday's breakout of the bearish channel, the cable played out the rest of its merry tune between the 0.5 and 0.38 Fibbonanci levels. These look like holding as support and when you add in the new bullish channel it looks like we have a trade on the open. I'm going long at 1.2370 and waiting for the morning open to carry on where we left off. TP is...
We're simply looking at the difference between two stimulus regimes.
With the BoE indicating that there would be a cap to stimulus, whilst the Fed earlier last week pretty much took a 'whatever it takes' stance, the longer term differential in narrative was created.
Whether that sustains is a different story, since context can change rapidly, but intraday, those...
Simple comp between QQQ and IWM. Spread between the two reaching its highest level today with tech rallying and small caps underperforming. One theme that has been developing over the past month or so is whenever the Nasdaq makes a new record high, other indices fail to see the same follow through while virus headlines continue to worsen.
DeFi coins is hyping around crypto and here is TA for them.
On FTX we can see the DeFi Index based on charts of COMP, KNC, LEND, MKR, KAVA, LRC, REN, REP, BNT, SNX and ZRX (each coin is weighted equally). It can be traded at FTX with up to 100x leverage.
So on the price i marked all triangle shapes and found Giant Wedge
It already breaking out from it and...
Volume Profile Fixed Range Analysis
Takeaways:
1. The previous dominant trend direction moving into the beginning of the year can help in determining the direction of that year's trend.
2. Consolidation (range) occurs at High Volume Nodes and can determine the direction of the emerging trend.
3. Price has largely Distributed throughout 2018 the Accumulation...
0. NVDA is way above the current channel;
1. May stay above the channel but we are looking for a pullback to SELL PUTS, and hopefully get a better entry on NVDA;
2. We would love to get for more exposure in the $275 to $325 range. Our best opportunity to add to our current $185 position, would be to sell puts
against it, should be correct, giving either a profit...
GBPUSD Long
Direction: - The pair approached the end of a Bearish Cycle which may continue on the H4 time-frame, but on the H1 time-frame a reversal off bottom of level was due.
- The pair was expected to enter a Bullish Cycle on the H1 time-frame now.
- A multi-session W (Double-Bottom) pattern formed on the H1, giving us the direction, and also failed to take...
The Dow Jones started down-trending on June 8 and also painted a "Flag" pattern, but yesterday it broke out.
The RSI indicator is not tanking anymore, MACD shows a beautiful divergence, which signals a possible trend reversal.
For now, I am neutral (but more bullish than bearish) on this particular play, because of the potential scenarios.
I see 3 of them;
>1. We...
For Growth Investors, there were a few shocking days over the past months where the indexes went up but our portfolios went sideways or down. There's no worse feeling than having the market go up and have your portfolio go down.
The cause was sector rotations as investors moved into "discounted" stocks that were hit the worst during the market crash of 2020...
Gold closed this month at $1,798/oz which makes June 2020 the second highest monthly closing price on record. The all-time highest monthly closing price on record was set at $1,831/oz in August 2011. July could easily break the all-time monthly closing high if current upward momentum holds. The June and May price candles both closed yellow which indicates that...
