On the above 2-week chart price action has enjoyed a 100% move in only 8 years. A number of reasons now exist to consider a bearish outlook for Gold, including: 1) A triple top on legacy resistance. 2) Regular bearish divergence. The number of oscillators now printing negative divergence with price action is actually greater than the positive divergence that...
Overal, the EUR/USD pair continues to maintain an upward channel, sustaining stability around the 1.0730 level in the Friday's Asian trading session. This stability is attributed to investors awaiting the April employment report from the United States, which will include non-farm payroll data and the unemployment rate. Looking at the chart, it shows that...
🔍In today's market, we witnessed a minor downturn as the support at 6115 was breached, signaling a brief downward trajectory. However, a significant bounce occurred at the first critical support level of 56708, indicating a corrective move towards the upside. As anticipated in the previous analysis, a rejection from 66480 validated the dominance of sellers,...
AMEX:SPY May 3, 2024 15 Minutes. Last 2 days AMEX:SPY managed to sort out the moving averages issues due to sudden up and down movement on May 1, 2024. Now all moving averages have converged, 50 averages are around 502.5 levels. So, for the day if I consider the last rise from 501.34 to 505.88, holding 503 levels I will have a target of 506 - 506.5 to 510...
Technical Confluences for Trade: - Stochastics are in Overbought Conditions on H4 time-frame - Price action reversed away from Supply area - Price action may reverse back towards Resistance Trendline and 61.8% Fibo Retracement Suggested Trade: Entry @ Area of Interest 1.8100 - 1.8110 SL @ 1.8156 TP 1 @ 1.8057 (Close Half-Position & move SL to Entry level once...
We can attempt to short SHIBUSDT from specified level if it break last HL , also there is bearish divergence indicate that it move downward. SL , TP mention in chart.
🔍Today, we delve into the analysis of Optimism (OP) coin, a leading project in Ethereum Layer 2 solutions. Being one of the earliest and most reputable Layer 2 solutions, Optimism has garnered significant attention, particularly from DeFi enthusiasts, due to its substantially lower transaction fees compared to Ethereum. This has allowed users with limited capital...
The stock has been in an up trend. It has broken its all time high in 2021 and in good consolidation for 2 years and broken out of consolidation now. It has broken out of a bullish flag and pole pattern / falling channel pattern in a 3 M timeframe. One may also consider this for a swing opportunity , RSI intact in all time frames. Weekly price action shows,...
For anyone interested in crypto tokens that are not Bitcoin or Ethereum, you’ll want to give this post your full attention! The above 10 day chart is very important for anyone speculating on alt tokens. The highlights: 1) Bitcoin dominance support and RSI support have broken market structure. That’s not my opinion, it is a fact of the chart. 2) Significant...
📊 Script: REC 📊 Sector: Finance 📊 Industry: Finance - Term-Lending Institutions Key highlights: 💡⚡ 📈 Script is giving breakout of Triple Top pattern of daily chart with volume. 📈 Today was the result date and numbers are pretty good. 📈 Trading at upper band of Bollinger band and giving breakout of it. 📈 MACD and Double Moving Averages are giving Crossover. 📈...
BTC hits major weekly support. We might face a deeper correction up to the 38k levels. Watch for weekly closing wicks On the daily SMA 200 is pointing 48k levels. If you take a look ok the weekly we can see it pointing to deeper levels around 36-38 levels. We can start DCA from the 57k support. BTC can try to sweep lower buy order and bulls should breach...
""The time to buy is when there's blood in the streets." A quote that most traders are familiar with. It basically means to buy assets during periods of weakness. Bitcoin is currently experiencing a very volatily bearish period. With a daily RSI sitting around 32 points, it takes just one red day for the daily RSI to hit oversold levels. During strong long-term...
On the above 12hr chart price action has corrected 65% since late March. A number of reasons now exist to be long, including: 1) Price action and RSI resistance breakouts. 2) Bullish divergence. Eight oscillators print positive divergence with price action. 3) Everything that was said above is also true for the AEVO.BTC pair (see below). Is it possible price...
XTPUSD has been rallying ever since it broke out of its two week sell off a couple days ago but there are now signs showing that the upward momentum could be coming to a end. Technical : The 3 EMA is crossing over the 10 EMA to the downside while at the same time the Stochastic is crossing the 50% mark to the downside as well. These Bearish confluences are...
🔍In today's analysis, we observe a continuation of yesterday's market movement, characterized by a minor downward trend. Yesterday's correctionary movement, as discussed in our previous analysis, has extended into the London time frame today. This movement has nullified all corrections suggested yesterday, indicating the potential for a second wave of decline in...
Today we woke up with a SP Futures Market down on Fed day. The previous days the market was trading in a narrow range, yesterday we saw it crashing down anticipating the Fed day today, and this morning it took another dent until the level reached what we can see in the chart, a touch over the 100 ma support. Keep in mind that after hitting the ATH recently, it...
On the daily chart, TAP was on a good trend up heading into earnings which were favorable. It is consolidated since just after earnings in a " high tight bull flag pattern" Volume has been healthy with many buyers and seller trading shares in a tight range channel. The stochastic RSI is now at about 20% indicating TAP is in the oversold / undervalued area. The...
🔍et's embark on our daily market analysis journey. The market witnessed another minor downturn recently. Bitcoin's dominant bullish candles may have overshadowed, causing altcoins like ADA to experience further decline. Among these altcoins, ADA, which we previously analyzed, remains under our scrutiny. 🔄First and foremost, let's review the trading triggers...