Trendline Trading Strategy - MAJOR Correction for $KAS THE TREND IS YOUR FRIEND,
until it isn’t.
This is literally the easiest trading strategy that even a monkey can figure out.
Find the major Trendline, and if it breaks, either
A) Sell Your Position
B) Open a Short
Case in point:
Seems like pretty much every coin has broken its trend, but I spent some time last night before bed seeing what was still holding up.
Spotted CRYPTOCAP:KAS
Putting it in context with the rest of the market nuking, I knew Kaspa was one of the last of the Mohicans so I opened my 3x Short.
Today I wake up, and see it broke trend on the 4hr which gives us data for the next 3-5 days / 6-8 trades per month.
P.S. YES that’s Bearish Divergence.
~JK
Oscillators
I think that it may be time to start building FET longs. Howdy everyone!
This is a follow-up to my FET short trade idea.
That short trade idea had two take profit areas within it, 1 of which we have already hit at approx. 1.42-1.20. The second take profit zone was just below at approx .90-.63.
I think that we might be finding support in this current area, and the second short trade take profit area may not get hit this time around. So this idea is based upon a long position in between the two take profit zones from that idea.
We've been as low as 1.06, and we are currently sitting at 1.18. I am suggesting starting your long positions in this current trading range.
My suggested take profits from this current trading range are: approx: 1.98, 2.50, and 3.00. We could at any time between now and hitting any of these targets turn around and hit the lower short trade target of .90-.63, so that is why I am giving at least 3 take profit points.
My current next big target if we make a new high in the markets is 3.94ish.
Anyway, I do appreciate your collaboration!
First sign of KASPA ($KAS) turning bullish vs BTCKAS had fallen below the golden pocket and tested the (thick orange) 200 daily SMA, but failed on the 8Mar. It had since remained below the 78.6% Fib retrace lvl after an attempt to retest the 200 SMA again on the 22Mar.
I had been slowly accumulating more KAS below the 78.6% Fib lvl and have now doubled my KAS holdings; after having stopped DCAing into KAS after it had previously pierced above 0.05USD (see the previous 5Nov2023 chart analysis tag).
It remained below the 78.6% Fib lvl until 25May, where it first held support, finally, above the red 21 daily EMA ( setting a second higher low ). It subsequently retested the 78.6% Fib lvl again on the 28May and eventually bounced off the 21 EMA to successfully pierced above the 78.6% Fib lvl as the resistance line on the 2Jun.
If the following daily candles continues to hold above the 78.6% Fib, the next level to look out for is the orange 200 SMA line , still lingering just below the golden pocket .
If KAS is able to pierce above the 200 SMA into the golden pocket, this will set up KAS to retest the 0.5% Fib level, which if successful, it would then very likely continue to pierce above the relatively much weaker 38.2% and 23.6% Fib resistance levels for another revisit of the ATH and to hopefully set a new ATH for a blue sky breakout .
Double Bottom w/ Break of Confirmation!! - EGHere I have EUR/GBP on the Daily chart!
The Lows @ .83972 & .83827 seem to have found enough Support in this Zone since its last visit back in the summer of 2022!
After BOE decided to cut their Interest Rates to 5% on Thursday, we see the end of the week gave us quite a Bullish close above the Lower High @ .8490 CONFIRMING the Double Bottom Reversal Pattern!!
With the:
-Divergence of Price vs RSI @ Level of Support
-Break of Structure from LL to HH
-and Price on RSI Above 50
*All that's left is to wait for Price to retrace back down to the .8490 area where the Break of Confirmation of Pattern happened for some potential Buy Opportunities!!
ZIG/USDT: Potential Bullish Reversal After Key Support Retest#ZIG/USDT #Analysis
Description
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+ ZIG/USDT is currently testing a critical support zone around $0.115 after a strong bullish rally.
+ The 100-day EMA is acting as dynamic support, suggesting a potential bullish reversal if this level holds.
+ RSI is around 43, indicating a neutral stance with the possibility of an oversold bounce, leading to higher targets.
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VectorAlgo Trade Details
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Entry Price: Around $0.115 on support confirmation or above $0.145 on a breakout
Stop Loss: below $0.09
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Target 1: $0.145
Target 2: $0.21
Target 3: $0.24
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Timeframe: 1D (Daily)
Capital Risk: 1-2% of trading amount
Leverage: 5-10x
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Enhance, Trade, Grow
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Feel free to share your thoughts and insights.
Don't forget to like and follow us for more trading ideas and discussions.
Best Regards,
VectorAlgo
JTO : Take CAUTION - RSI Topout LikelyBINANCE:JTOUSDT
The RSI reacts different on every chart, which is often the case with technical indicators. This is also why we advise to find one or two, and learn how they respond on your favorite charts. If you swop around between technical indicators too frequently, you will miss key insights such as these.
The charts says bullish for three main reasons :
👉 Bottom out pattern
👉 Higher lows
👉 Hot RSI
Two playouts likely for JTO, but for NEAR / LONG term I will label it as BULLISH. Personally using leverage here is too risky for my taste but then again, I favor a modest and low-risk approach.
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$SPY August 1 ,2024AMEX:SPY August 1 ,2024
15 Minutes.
547 consolidations broke with a big gap up.
And AMEX:SPY managed to hold the gap during the day.
If we consider the rise from538.51 to 551.5 then holding 544 uptrend continues.
However, since it will close gap, I need 548 to hold being 38.2% retracement of the rise.
Once 554-555 is crossed i expect once more AMEX:SPY 565 levels.
But first the moving averages need to sort out in 15 minutes.
And oscillator divergence too.
Valuation Trade Setups: NVDA, AVGO, GOOGL, AMZN, PINS & SilverI have been filled long on some trades based on my valuation trading strategy.
In this video I explain the strategy (conditional criteria, entries & money management) implemented with this weeks entries in NVDA, AVGO & Silver (as well as resting orders for GOOGL, AMZN & PINS). I also briefly explain the idea of "relative strength", which I applied this week when I decided to long Silver instead of Copper.
Enjoy.
KSMUSDT Analysis: Potential Reversal or Further Decline?✨ Welcome to my channel. Here, we analyze a new crypto project or Forex pair every day.
📅 Let's dive into today's analysis, focusing on the KSMUSDT pair in the crypto market.
🗂 About the Project: Kusama (KSM) is an experimental blockchain platform designed to provide a proving ground for new technologies. It serves as a sister network to Polkadot, allowing developers to build and deploy decentralized applications (dApps) quickly and with lower risk.
📅 Weekly Timeframe Analysis
In this timeframe, KSMUSDT has experienced notable fluctuations. The price reached a significant peak before entering a correction phase. Currently, KSM is trading around the $21.18 level, with a key support at $17.38. A stabilization above $24.35 could signal a bullish trend, potentially targeting $37.42 and $55.99. However, a failure to hold above $17.38 might lead to further declines, with the next major support at $14.50.
📅 Daily Timeframe Analysis
On the daily chart, KSMUSDT has shown a bearish trend with the price consolidating around $20.44. The key resistance levels are at $24.23 and $27.00. A break above these levels could indicate a shift to a bullish trend. On the downside, a break below the $16.72 level might lead to further bearish movement. The RSI currently stands around 43.95, suggesting potential bearish momentum.
📅 4-Hour Timeframe Analysis
In the 4-hour timeframe, KSMUSDT is consolidating near the support at $20.05. A drop below this level could signal further declines towards $16.63. Conversely, a move above $21.20 could indicate a short-term bullish reversal, targeting resistance at $24.28. The RSI is around 47.61, indicating a neutral to bearish sentiment.
📊 RSI Oscillator
The RSI is currently ranging between 37.54 and 47.61 on different timeframes. Breaking these levels could provide confirmation for opening positions. However, always use these levels in conjunction with candle patterns and volume analysis to find the best entry and exit points.
📉 Given the current bearish signals in the daily and 4-hour timeframes, alongside the potential trend change in the weekly timeframe, I am inclined to open a short position. However, this is based on my trading strategy. Each trader should base their decisions on their strategies and risk management plans.
⚠️ Please note that this is not financial advice. I'm simply introducing this project to you, and remember always to do your own research.
🫶 If you found this analysis helpful and want to support me, please boost this analysis. Feel free to leave a comment or suggest a coin you'd like me to analyze next.
A fool's buy order.Hi.
I've had a lot of burns with choosing the right entry points in different assets,
so I've formed a strong cynicism towards the 2024 market.
CHZ is a great asset, exploding in the good old days.
Yes, I see a lot of people waiting for his shot right now.
However, using a large timeframe (10D) and the latest Linear Regression Oscillator ,
you can see that things could be potentially volatile over the next few months
and a squeeze to the lows is possible.
Oversold conditions may develop for some more time.
In addition, my favourite SQZMOM warns of an imminent start
of a downward expansion (grey cross).
What did I do?
I placed a buy order.
At $0.015 . :)
If I turn out to be right, I will enter more than successfully.
If it turns out that the Daily timeframe has already confirmed
support and a move is only forming upwards,
I will consider buying from current levels.
Long USD/JPY idea into BOJ and Fed meetingsBOJ rates pricing is as hawkish as it’s been since before the GFC. At the same time, expectations for rate cuts from the Fed over the next 12 months are nearing levels seen in January.
For a FX pair with a rolling daily correlation of 0.95 over the past month with two-year yield spreads between the US and Japan, it suggests there is only limited scope for narrowing interest rate differentials to drive further downside in USD/JPY over the near-term.
When you look at the daily chart, with USD/JPY nearing key support at 151.95 and divergence between RSI and price warning of waning downside momentum, risk-reward appears skewed towards initiating longs heading into the BOJ and Fed meetings later today.
Should we see USD/JPY push towards 151.95, consider going long with a tight stop below the level for protection. Probes higher over the past week have stalled above 154.54, making that a potential initial trade target. Should 155.375 be taken out, the next target would likely be the important 50-day moving average.
Should the trade move in your favour, consider lifting your stop loss or using a trailing stop to protect against reversal. Good luck!
DS
XRP/USD Monthly MACD Crossover: Potential Bullish SignalThis analysis examines a potential bullish signal for XRP (Ripple) against the US dollar (USD) based on a monthly MACD (Moving Average Convergence Divergence) crossover.
What is a MACD Crossover?
The MACD is a technical indicator used to gauge momentum and identify potential trend changes. It consists of two lines: the MACD line (faster moving average) and the signal line (slower moving average). When the MACD line crosses above the signal line, it can indicate a shift in momentum from bearish (downtrend) to bullish (uptrend).
XRP/USD Monthly MACD Crossover:
On the monthly XRP/USD chart, a recent MACD crossover suggests a potential long-term trend reversal towards a bullish direction. However, it's crucial to understand the limitations of this indicator:
Time Frame: Monthly charts provide a broad perspective, but price movements can be slow. Reaching the $1 target price might take an extended period.
Confirmation and Additional Factors:
For a more complete analysis, consider these additional factors:
Price Action: Look for confirmation from price action on the monthly chart. Bullish candlestick patterns preceding the MACD crossover can strengthen the signal. Resources like www.investopedia.com provide detailed explanations.
Other Indicators: Supportive signals from other technical indicators, such as increasing trading volume or a rising RSI (Relative Strength Index), can bolster the bullish case. You can learn more about the RSI at www.investopedia.com
Fundamental Analysis: Technical indicators provide technical insights, but fundamental factors like upcoming developments, regulatory changes, or the overall health of the Ripple ecosystem can significantly impact XRP's price. Conduct research to understand these factors.
Risk Management:
Don't chase price: Avoid the urge to buy XRP if its price starts to surge following the MACD crossover. A measured approach involves waiting for a potential pullback or a confirmation signal before entering a trade.
Set Stop-Loss Orders: Always implement stop-loss orders to limit potential losses if the price movement contradicts your expectations.
Conclusion:
The monthly MACD crossover on the XRP/USD chart is a potentially bullish signal, but it should be used in conjunction with other technical indicators, fundamental analysis, and proper risk management practices. By understanding the limitations of individual indicators and conducting thorough research, you can make more informed investment decisions in the cryptocurrency market.
The "Wedge" Confirms the "Nod" - EUHere I have EUR/USD on the 4 Hr Chart!
The Head & Shoulders Reversal Pattern took all mid-July to form with Price finally Breaking the Low @ 1.08715 and giving us the New Lower Low @ 1.08256!
Price has been working back up to test the Break of Confirmation of Pattern but remains unable to break above, and with this Price Action, we begin to see a Bearish Wedge formation!!
This Wedge is a Continuation Pattern and is textbook confirmation to see the Head & Shoulders being true to the Reversal Behavior!
*As long as Bears remain solid at the 1.087 level, the Bearish Break to the Rising Support of the Wedge will be Confirmation of the Wedge Continuation Pattern itself, therefore strengthening the Bearish Bias on the Pair to CONTINUE!
-We see Price on the RSI is remaining BELOW the 50 reassuring Bearish Pressure
-BB Trend Printing strong Red Bars
-Fundamentals-
EUR - CPI's & GDP (Tue), CPI's (Wed), PMI's (Thur)
USD - Consumer Confidence & JOLTS (Tue), ADP Non-Farm/GDP/Pending Home Sales/Funds Rate (Wed) Unemployment Claims ISM Manu. PMI (Thur) Average Hourly Earnings, Non-Farm Employment, Unemployment Rate (Fri)
EURCAD Forex Pair Analysis: Market Trends and Key Levels✨ Welcome to my channel. Here, we analyze a new crypto project or Forex pair every day.
📅 Let's dive into today's analysis, focusing on the EURCAD pair in the Forex market.
🗂 About the Pair: The EURCAD pair represents the exchange rate between the Euro and the Canadian Dollar. It's influenced by factors such as European and Canadian economic data, central bank policies, and global market sentiment.
📊 Weekly Timeframe Analysis
In this timeframe, EURCAD has shown significant range-bound movement. The pair is currently testing a key resistance level around 1.50153, with major support found at 1.29621. The RSI indicator shows a reading of 62.21, suggesting the market is nearing overbought conditions but not at extreme levels yet.
📈 If EURCAD breaks above 1.50153, we could see further bullish momentum, potentially reaching towards the next resistance level at 1.57769.
📉 Conversely, if the price fails to break through and reverses, a pullback towards the support level of 1.43037 could indicate a bearish trend continuation.
📊 Daily Timeframe Analysis
On the daily chart, EURCAD has been trending upwards since early 2023, with the current price action testing the resistance around 1.50153. The RSI at 63.44 reflects bullish momentum but is close to overbought territory.
🧲 A breakout above 1.50153 could signal a continuation of the uptrend, targeting higher levels.
📉 However, a reversal or stabilization below 1.49002 may indicate a weakening of the bullish trend and potential for a correction.
📊 4-Hour Timeframe Analysis
In the 4-hour timeframe, EURCAD recently experienced a strong bullish impulse, followed by a consolidation phase. The pair is currently testing resistance at 1.50182.
📈 For long positions, a breakout above 1.50182 could provide an entry point, with targets at 1.51000 and beyond.
📉 For short positions, key support levels to watch are 1.49188 and 1.48730, with a potential for deeper retracement towards 1.47733.
📊 RSI Oscillator
The RSI across the timeframes is currently indicating a mixed outlook:
Weekly: 62.21, close to overbought
Daily: 63.44, nearing overbought
4-Hour: 46.58, neutral with room for both upside and downside
A clear break of the RSI levels, combined with price action confirmation, could help identify potential trade entries.
🧲 Conclusion
Given the current bullish momentum in the weekly and daily timeframes, a short-term long position could be considered if EURCAD breaks above 1.50153. However, caution is warranted as the pair approaches resistance, and the RSI suggests potential overbought conditions. A watchful eye on support levels and volume trends will be crucial for assessing the strength of any moves.
⚠️ Please note that this is not financial advice. I'm simply providing this analysis for educational purposes. Always do your own research and consider your trading strategy and risk management plan.
🫶 If you found this analysis helpful and want to support me, please boost this analysis. Feel free to leave a comment or suggest a pair you'd like me to analyze next.
BoringThe price is in a sideward range for more than 2 years now,. Insofar we should not expect to much now.
We have reached the bottom of the multiple resistance once again and might fluctuate a bit upward now. But one thing has changed: First time since May 2022 the cloud has turned bullish and we have reached its top what makes the support a bit harder.
Perhaps we may see a turnaround now. At least the downward risk is not large.
FLIGHT FLAREHi!
This is the situation on many altcoins, and FLARE is no exception.
A 4 hour or 1 day chart will tell you a little bit about what awaits this altcoin.
You need charts of at least 1 week, and preferably more.
That's 10D (as there is not yet the right history here to effectively apply 19D or 26D).
Watch the Ichimoku clouds.
The Tenkan and Kijun crossed with a golden cross. And soon crossed with the death cross.
In addition, the indication lines entered the cloud. But the Kijun is under the Tenkan and the candles are below both lines.
That's a bad sign, the price will fall out of the cloud.
We're probably talking about a retest of the bottom at $0.0078.
I'm going to place buy orders from 0.017 to 0.008 with 10% spacing between buy orders.
The green cloud may not start to form until the spring of 2025. I have schematically drawn it, while I am not clear about the potential of the asset, but judging by the chart it is big.
Long Kiwi setup looking for a revival in risk appetiteThe New Zealand dollar is a binary bet on how investor risk appetite evolves this week. Having plunged over the past fortnight before bouncing off horizontal support, a setup is in place to look for a reversal. We just need risk assets to oblige.
To reinforce how influential risk assets have been on the Kiwi, its rolling daily correlation with Nasdaq futures sits at 0.92 over the past month. With copper futures it’s an even stronger 0.95 and 0.89 with USD/JPY. It’s deeply negative with the VIX at -0.88, indicating that when volatility spikes, Kiwi usually tumbles.
That suggests Microsoft’s earnings report and speculation before the Fed are likely to heavily influence NZD/USD over the next 24 hours.
NZD/USD screens as decent long setup from a risk-reward perspective, oversold yet still able to bounce off .59593 at the first time of testing, an important level that has provided support in the past. While no guarantee this time will be the same, when RSI has sat at these kinds of levels over reccent years, it has often occurred around a market bottom.
Those taking on the long trade could buy above .58593 with a stop below for protection. Some selling may be encountered at .5900 but there isn’t any real visible resistance levels evident until we get back towards .5985 of .60491.
DS
Is Solana at risk of a price reversal? What historic trends say:Solana (SOL), the world’s fourth-largest cryptocurrency, gained massive attention as it broke out of the crucial resistance level of $187.
Following SOL’s crucial breakout, there is a high chance that it could rise to the next resistance, which is near $204.
However, there is also a concern among the new investors about a potential price reversal from this upcoming resistance.
According to the historical data and price action, whenever SOL has reached the $204 level, it has consistently experienced a notable price reversal.
Since March 2024, SOL has reached this level twice and experienced a significant price reversal each time, which is the reason for the concern among new investors.
As of writing, SOL is trading near $184 and has experienced a 4.5% upside move in the last 24 hours. Despite an impressive price surge, trading volume has dropped by 18% over the same period.
This decline in trading volume might indicate that investors and traders are conscious of the resistance level due to the historical price reversal.
According to technical analysis, SOL recently broke out of the crucial resistance level of $187, and was heading toward the next resistance level of $204.
Following this breakout, there is a high possibility that SOL could reach the $204 level in the coming days.
Relative Strength Index (RSI) is above 50, signaling trend steadiness.
Also, major liquidation levels emerged near the $180 and $203 levels.
This creates a potentially bullish outlook for SOL.
Potential Short OpportunityThe ACWV/AOR pair is signaling a Short position at the close of yesterday, supported by all indicators, suggesting a promising opportunity.
ADX : Indicates no prevailing trend.
Correlation : Remains high.
Price : Positioned in the overbought area.
Historical test : Shows favorable chances.
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