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DXY observations (short term bearish trend)DOLLAR OBSERVATIONS As price continues its downward trajectory, it has shifted its trend to the downside, leaving behind clear supply zones. One of these zones was previously identified and respected as per last week's forecast. I anticipate this short-term bearish trend to persist until it reaches the 104.200 mark. At that point, I expect a bullish reversal to occur, especially considering the presence of an imbalance just above this level. Additionally, with price currently in a downtrend, my bullish biases on GU and EU align accordingly. This correlation is logical until either of them reaches the supply zone on the daily chart, which should coincide with the same daily demand zone marked out on DXY.
TVC:DXYShort
by Hassan_fx
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SKILLING:CHINA50Short
by Thief_Trader
DXY (dollar index) weekly ideaCurrently, the dollar trend indicates a bearish direction, suggesting that pairs I typically trade, such as GU, EU, and gold, may rise. Presently, I anticipate a retracement to occur towards an 8-hour supply zone I've identified, facilitating the continuation of the bearish trajectory. This ideally aligns with my strategy until the price drops to around the 104 level, potentially sparking a bullish rally upwards. At that point, I'll need to seek selling opportunities for my other pairs. The dollar's price action appears clear, and there are still imbalances below that require fulfilment. Have a great trading week guys!
TVC:DXYShort
by Hassan_fx
Trading with RSI: The Bad, The Good and Even BetterIn this video I explain how to use RSI (Relative Strength Index) to make trading decisions. You'll learn how to properly use RSI oversold condition, combining low timeframe price action signals with high level context analysis. Besides of explaining three different strategies (the bad, the good and even better) I'll do back-testing on historical data to demonstrate how those strategies translate into real trading results. Disclaimer I don't give trading or investing advice, just sharing my thoughts.
AMEX:SPYEducation
by hermes_trisme
$DXY down, $BTC up - The crazy (but logic) correlationCRYPTOCAP:BTC just printed a "magical" green candle, after a kinda "bearish" upward movement with a lot of divergences. No one was expecting an upward movement like this, and really caught bears and shorters by surprise. The short squeeze here was brutal and a lot of shorters must be in pain. Anyone could be asking themselves, "what the hell just happened?". This is the time where traders blame "manipulation" and "market makers" as the ones who move the market to their interests, with such a, we could say, "irracional" price action. Well... There COULD be an explanation. Historically DXY (The index that measures the strenght of US Dollar in the financial market) have had an inverse correlation to the price of Bitcoin and viceversa. It has some kind of logic, since, if Bitcoin is bought with dollars, then if dollar lose its value, then you need more dollars to buy Bitcoin! simple math, simple logic. We are not sure if the graphs are 100% correlated themselves, but it makes sense! Here you can see that I applied the TVC:DXY graph over CRYPTOCAP:BTC graph, but the TVC:DXY is INVERTED, meaning that every time TVC:DXY went up, you can see it here going down. So you can see now more clearly the direct correlation both have. TVC:DXY just broke a trendline and printed a very strong red candle JUST at the very same time BTC did y massive green candle a liquidated short positions at very important sell zones. It's kind of easy to predict a big movement of any of both, if one of them does a big move at some point, because you can expect the other to do a big move at the same time or some time later. Keep an eye ALWAYS on DXY when you are trading Bitcoin or any crypto. It IS a finantial advice.
OANDA:BTCUSD
by fortune_00
Don't Panic! Nasdaq Bear Breakout May Signal Trading RangeNasdaq Market Analysis Report Overview The Nasdaq Composite Index has displayed a bearish breakout from a prominent top pattern on the daily chart. This pattern followed a strong bullish trend, indicating a potential shift into a trading range rather than a fully-fledged bear trend. I'll analyze where the market could find a bottom, explore potential trading strategies, and offer a market outlook. Bear Breakout and Trading Range Potential While the April breakout was strong, a transition period into a trading range remains likely due to the preceding bull market. Identifying the range's bottom is crucial for pinpointing trading opportunities. Support Levels and Market Direction Key support areas to watch include: - Previous All-Time High: A natural support level. - 200-Day Moving Average: Historically significant indicator. - 50% Pullback: Common retracement level in major trends. - Weekly Bull Channel Trendline: Provides underlying support. - Round Number Levels: $16000 and $15000 offer psychological support. Market sentiment will be influenced by whether bears continue to hold the current scenario, preventing any substantial breakouts above previous highs. Trading Strategies - Bullish Approach: Consider selling volatility (e.g., put spreads with 45 DTE) near the identified support levels. - Bearish Approach: Selling around current prices with a stop at the recent all-time high could work. Look for double/triple tops or trade resistance from the 50-day MA. Conclusion The Nasdaq likely faces extended correction towards either the 200-day MA or the weekly bull channel's lower trendline. Price action around these areas will provide clues to the market's true direction, allowing for suitable adjustments to your trading strategies.
NASDAQ:NDX
by Diagnosis_Analytics
NVDIA: bottomed but may consolidate for a while. Massive upside.NVDA is neutral on its 1D technical outlook (RSI = 45.860, MACD = -7.940, ADX = 34.317) as it corrected to a respectable extent, a correction that we have been expected as pointed out on our latest idea. The Channel Up is intact, the price crossed under the 1D MA50 and like the September-October correction, it may consolidate until it catches up with the 1D MA100. Whatever the case, this is most likely NVDIA's bottom, a symmetric -21.33% correction with an enormous upside on the 4.0 Fib extension, like the two Highs prior. For the time being our target is a more modest one on the 2.0 Fib (TP = 1,250). See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
NASDAQ:NVDALong
by InvestingScope
DOW JONES: Pattern worked like beauty. Technical rebound.Dow quickly turned neutral again on its 1D technical outlook (RSI = 49.651, MACD = -238.11, ADX = 37.915) not staying for long on its previous bearish state as after hitting our TP = 37,300 it rebounded emphatically and is about to test the 1D MA50. The pattern was the same as the prior corrections inside the Channel Up: pullback to the 0.382 and -6.95% in particular like on December 20th 2022. Now the price should at least retrace to the 0.786 Fib on this bounce. Long TP = 39,350. See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
CAPITALCOM:US30Long
by InvestingScope
S&P500: 1D MA100 hit. Short term rebound at least to be expectedS&P500 is bearish on its 1D technical outlook (RSI = 37.601, MACD = -44.800, ADX = 58.528) as it touched the 1D MA100 on Friday after more than 5 months. This calls for a short term rebound at least as every previous corrective wave inside the multi month Channel Up that approached the 1D MA100, it rebounded to at least the 0.618 Fibonacci level. Following our last short call, we are now turning long again (TP = 5,115). See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
CAPITALCOM:US500Long
by InvestingScope
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