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USD/JPY may squeeze if Fed delivers dovish disappointmentUSD/JPY looms as a prime squeeze candidate should the Fed disappoint on extremely dovish market pricing, not only likely to benefit from the probable uplift in US bond yields but also recent shifts in market positioning. USD/JPY staged a decent reversal on Monday after slicing through the Dec 28 low of 140.273, printing a hammer candle on the daily. With RSI (14) nearing oversold territory and breaking the downtrend it’s been in since the start of September, directional risks may be shifting. I’m not rushing into a long trade just yet, but I am keen to see whether the price holds above 140.273 today. If it does, longs could be established with a stop around 139.60 for protection. Make sure you keep positioning front of mind given how volatile the pair has been recently. 143.63 looms as a suitable trade target with only minor resistance at 141.73 located in between. Good luck! DS
Long
by FOREXcom
11
Not chasing silver higher given Fed may disappoint Silver looks bullish, breaking through downtrend resistance last Friday with ease as traders ramped up Fed rate cuts bets. However, with over 120 basis points priced in 2024, that leaves silver vulnerable to a reversal should the Fed not deliver on those expectations. Therefore, rather than buy the break, I’d rather see what the Fed does before entering a trade. Should the price move back towards support between 30.157 and former downtrend, it will provide a decent level to build setups around. If the zone were to hold, you could buy with a stop below the downtrend targeting $31.754 or multi-year high of $32.50 set in May. Alternatively, if it were to reverse through the zone, you could sell with a stop above the downtrend for protection. Potential targets include the 50DMA or $27.71. Momentum remains higher with RSI (14) and MACD generating bullish signals. However, from a fundamental perspective, if US yields push higher before or after the Fed, it may lead to a stronger dollar and renewed headwinds for silver. Good luck! DS
FOREXCOM:XAGUSD_PER_0.01
by FOREXcom
SOL Analysis — Potential for Further Downside?Solana (SOL) is showing several signals of a further correction. After SOL bounced from its core support level at $125, the price was rejected at the EMA 200. Currently, SOL is trading below all significant exponential moving averages (EMA). Typically, this is an explicit confirmation of a downtrend. Even worse, the Stochastic RSI is in overbought territory. Plus, the K-line has crossed below the D-line—a typical signal for a potential downside move. The Facts Summarized: EMA 200 rejection: SOL attempted to break above the EMA 200 but was swiftly rejected. Overbought Stochastic RSI: The overbought conditions suggest the momentum might be cooling off. Downtrend: SOL continues to trade below its EMAs, confirming the bearish structure. However, even in case of a move to the downside, the 125-level should serve as an essential support. A Sign Of Hope — BTC! While the signals for SOL are mainly bearish, it’s essential to keep an eye on Bitcoin (unsurprisingly). If BTC continues its upward momentum early next week, this could invalidate the bearish setup for SOL and spark a new push upward. The next few days will be crucial to watch.
Short
by ben_walther
1
SMH now testing outer boundariesSMH experienced a significant rally and now showing signs of weakness and a potential reversal coming. experienced a short lived false breakout back in Aug 22 We are now back in breakout zone again this time with more candles indicating more bulls coming in than last breakout RSI is now trending flat as price continues to rise, signs of rsi divergence signaling reversal maybe coming Overall SMH looks to be showing weakness in the rally and most likely turning around to sell off soon.
NASDAQ:SMHShort
by ratchet-mint
Falling Wedge Sees Bullish Order Block! - EUHere I have EUR/USD on the 4Hr Chart! EU Bears have been pulling price down forming what seems to be a Falling Wedge since the end of August but could the Double Bottom made by the Sell-Side Liquidity and New Swing Low be a sign that Price is loading up to make its Bullish Break?! Now we see Price after being rejected from the Falling Resistance, descending to the Break of Structure @ 1.10548 and the Order Block responsible for sweeping Sell-Side Liquidity @ 1.10437 being the Entry Range for when Price comes down and Successfully tests the Order Block! *This rejection also creates a Higher High or disruption in the Downtrend suggesting power transfer from Bears to Bulls. Now another big tell is the Bullish Divergence between the RSI and Lows of Price testing the Falling Support! Also the presence of Bears in the BBTrend seems to be dwindling with each Low created where you see the collection of Red Bars shrinking! Fundamentally, USD has Retail Sales on Tuesday (Sept. 17th) and Federal Funds Rate / FOMC Meeting on Wednesday (Sept. 18th) with expectations for Rates to start being cut!
Long
by Novi_Fibonacci
SPELL Did 50X in 3 Month in 2021, Can It Repeat This Move?In 2021 the token started trading in the final phase of the bull cycle so it's unlikely to be that fast, but who knows? Anyway, it's a pretty good token to hold in the following months and the picture is very similar to my FIDA post. Price action holding support on an important level, stable weekly RSI moving sideways. SPELL/BTC ratio is in a falling wedge and looks ready for a reversal (breakout not confirmed yet): Max target: $0.029.
CRYPTO:SPELLUSDLong
by function_mechanic
$SPY 14, September 2024AMEX:SPY 14, September 2024 Weekend views. Uptrend confirmed. I will be worried only if 510 is broken as of now. On daily my target is 580 levels initially. This is derived from 1.5 times extension for the move 348 to 459 to 409 levels. On Monday if AMEX:SPY is able to cross 564-565 levels and hold for at least one hour we can see a big move towards 580 in few days. Now holding 555-557 is crucial for next uptrend. In 15 minutes for the last rise 556.53 to 563.03 it is important to hold 559-560 levels. If 559 is broken, then we will have another multiple tops around 563 and hence can expect some sideways between 554 to 560 to converge the moving averages. Not the time to short in any time frame. As of now.
AMEX:SPYLong
by RiderTrader
6
Chart Analysis: Establishing Trading Strategies --------------------------------- Hello, traders. If you "Follow", you can always get new information quickly. Please click "Boost" as well. Have a good day today. ------------------------------------- When you start studying charts, the first thing you learn is about candles. However, you start studying about the Open, Close, High, and Low of candles. When you start studying about the Moving Average, you start to think that you understand the charts. However, when you actually start trading with the Moving Average, you realize that nothing works properly. So, you start studying other indicators. - The above is based on my experience. When you study various charts, you may think you know them, but when you actually start trading, you realize that they don't apply at all. Where on earth did I go wrong?... What I learned after a long time is that I was wrong from the very beginning. - In other words, I realized that my subsequent chart studies were not done properly because I lacked understanding of candles. When you start studying candles, you study candles of various shapes and patterns. At this time, you should not be too obsessed with the names of candle shapes or patterns or the conditions that occur and try to memorize them. It is important to read it repeatedly several times until you can grasp the concept of the arrangements formed by the combination of candle shapes or patterns, that is, the support and resistance points. Eventually, when the candle shapes or patterns are combined, you can find the volume profile section formed around it, that is, the section where trading volume occurs. By drawing and marking the support and resistance points you find in this way on 1M, 1W, and 1D charts, you can create a trading strategy on the charts you mainly trade. That's all the experts in chart analysis say. In the end, everything is about looking at the combination of candles that make up the chart, finding the corresponding support and resistance points, and trading according to your trading strategy. A trading strategy is to create a response strategy at the corresponding support and resistance points based on the three things above: 1. Investment period 2. Investment size 3. Trading method and profit realization method However, since most books do not include trading strategies, you will only learn about the timing of trading and closing of trading using various indicators. Because of this, there are many cases where you cannot respond to the volatility that occurs after starting trading and end up losing money. Even so, it is difficult to specifically define the contents of trading strategies. This is because the investment period, investment size, and trading method are different depending on the individual's investment style. Therefore, what I can tell you is that you need to set the buy, sell, and stop loss points according to the support and resistance points obtained through chart analysis and wait for a while. Due to price volatility, you may not touch the buy, sell, and stop loss points or may move past them. You should learn how to create a trading strategy by modifying the way you respond to these things according to your investment style. - One important thing here is that you should mark the support and resistance points in advance through chart analysis before starting trading. Otherwise, if you start trading and then mark support and resistance points, psychological factors will come into play, which will likely lead to an unexpected transaction. Don't forget this, and you should practice marking support and resistance points in advance before starting a transaction. Also, you should avoid analyzing charts after listening to various articles, news, or community content. The reason is that psychological factors can come into play. - I think trading is a response to the movement of prices that fluctuate in real time. Therefore, waiting and determination are necessary. If you wait too long or do not make a decision and pass it by, there is a high possibility that you will suffer losses or make little profit, so you need something to refer to when waiting or making a decision. That is the support and resistance points I mentioned above. - However, support and resistance points alone do not solve everything. Therefore, you should add trend lines and various indicators to ask for a method of responding to price fluctuations. However, since the trend line is formed by a diagonal line, there is a lack of countermeasure strategies using the trend line. Therefore, the trend line is used to literally find out what the current trend is. - Therefore, when it deviates from the trend line, the movement at the support and resistance points is checked and the corresponding response is made. When trading with a chart consisting of the above two support and resistance points or only the trend line, there are often cases where the transaction cannot be properly conducted due to fakes or sweeps. Therefore, in order to counter these fakes or sweeps, various indicators are added to the chart. The most commonly used of these is the price moving average. Even if you add the price moving average, you realize that it is a curve, just like the trend line, and is therefore not suitable for countermeasure strategies. So, the price moving average is also used to check the trend, just like the trend line. - In that regard, the indicator I recommend is the StochRSI indicator. The default settings for the StochRSI indicator are 14, 7, 3, 3 (RSI, Stoch, K, D). The value of the Signal line (EMA) of the StochRSI indicator is 7. If the StochRSI indicator rises in the oversold zone and maintains the state of StochRSI > StochRSI EMA, it is a buying period. On the other hand, if the StochRSI indicator falls in the overbought zone and maintains the state of StochRSI < StochRSI EMA, it is a selling period. However, you should trade depending on whether there is support or resistance at the support and resistance points formed at that location. Even if there is movement in the StochRSI indicator, it is recommended not to trade if you do not have support and resistance points drawn on the 1M, 1W, and 1D charts. The reason is that you may feel psychologically anxious, so there is a possibility that the trade will proceed incorrectly. - If you can trade with only what I mentioned above and make an average profit, it is because you have established a trading strategy according to your investment style. - We need objective information to establish a trading strategy according to your investment style. We think that this is the only way to minimize the psychological factors that arise when starting a trade. If you can add various indicators to the chart to obtain objective information and receive support and resistance point information according to them, you can create a trading strategy according to them at any time. To do this, we used the StochRSI, OBV, CCI, and RSI indicators to display support and resistance points on the price candle part. And, we added the StochRSI and BW indicators as auxiliary indicators. The StochRSI indicator added as an auxiliary indicator is not the StochRSI indicator provided by default, but an indicator with a modified formula, so you can share the chart and use it or copy and paste the TS-BW UP indicator to your own chart and use it. There is no problem using the basic StochRSI indicator. However, there is a slight difference from what I said, so there may be a slight problem in understanding. - As above, since the support and resistance points of the 1M, 1W, and 1D charts are drawn on the chart to create a trading strategy, my chart is very confusing and not easy to understand when you first look at it. And, since there are many indicators that I have not explained, it may be even more difficult to see the chart. Therefore, to resolve the difficult parts, share the chart, hide the indicators added to the chart, and activate them one by one while looking at them, and you will be able to understand the chart. If you share the chart, you can use it normally, so you can check the chart from various angles. - Have a good time. Thank you. --------------------------------------------------
Education
by readCrypto
1
Solana Name Service (FIDA) — a 45x opportunityNote that the project was previously known as Bonfida but renamed to Solana Name Service. Price action has been building some structure on an important support level since July. Weekly RSI has stabilized at 40 and is moving sideways. Falling wedge breakout against Bitcoin: Max target is at $10 which gives up to 4500% potential. Also, since it's a Solana ecosystem project, it gives indirect exposure to Solana which is a great thing considering all the hype around it. Like the idea? Boost it! Have an opinion? Leave a comment!
CRYPTO:FIDAUSDLong
by function_mechanic
3
MUST SEE: The Perfect Setup - How to Make 50 %!Hey Future Demons I'm back again, and we don't have time to waste, so let's jump right into the TA. I want to spoil you today with the perfect setup. Everything aligns. It is beautiful. Its almost too good to be true. Let me make it very clear though, than nothing is certain when it comes to trading. I will put a 70 % credence on this setup though (Bayesian Reasoning). This is Neutron (NTRN). 1. We are in a huge descending wedge, which a bullish pattern (Perfect ABCDE) 2. The volume is dropping, which is what usually happens before we see a spike. It is also a sign, that traders slowly have been accumulating the coin. 3. Look at the RSI. We have clear bullish divergence. 4. The same goes for the MACD. Bullish divergence and a MACD-cross, which means that the Bulls finally are ready to take over. Kind Regards Laplace's Demon PS. Remember to LIKE and FOLLOW. I will continue to provide you with quality content, and my mission is to teach you how to outsmart the Elite, the big whales and Wall Street. Market Psychology is my biggest strength.
Long
by Lapl4cesDem0n
AUD/USD set to make assault on downtrend resistance AUD/USD looks set to make an assault on downtrend resistance dating back to August 29, building momentum after Wednesday’s bullish engulfing candle sent the pair careening above the important 50-day moving average. However, while RSI (14) has broken its downtrend the bullish signal has yet to be confirmed by MACD, suggesting now is decent time to let the price action tell you what to do. The bias is higher but the risk-reward is not compelling on the daily timeframe. If the price manages to break and close above the downtrend, it will allow traders to establish longs with a stop below the level for protection. The price has done a lot of work either side of .6750 recently, making that an important level to overcome to open the door for a push towards the recent highs at .6825. Alternatively, if the price is rejected at the downtrend, you could sell with a stop above for protection. Possible targets include .66857, the 50DMA and Wednesday’s low (and the 200DMA) around .6620. Good luck! DS
by FOREXcom
1
How I Use Multi Timeframe Analysis to Capture LARGE Price SwingsDISCLAIMER: This is not trade advice. Trading involves real risk. Do your own due diligence. TUTORIAL: Today, I demonstrate the thought process and mechanical steps I take when trading my Multi-Timeframe strategy. We take a look at US Treasuries, which have offers a classic lesson in how to apply this approach. As you will see, throughout the year, this approach took some losses prior to getting involved in the "real" move which we anticipated. No strategy is perfect, and I do not purport this to be perfect. It is a rules based and effective way to read price. This strategy is great for people who don't have a lot of time to spend at the charts. I would classify this more as an "investing" strategy when utilizing the 12M-2W-12H timeframe. If you have questions about anything in this video, feel free to shoot me a message. I hope you have all had a great week so far. Good Luck & Good Trading.
CBOT:ZF1!Education
by Tradius_Trades
3
Semiconductors and the Long-Term TrendChip stocks have been climbing since early last year. Now, after a healthy pullback, some traders may look for the longer-term uptrend to continue. The first pattern on today’s chart of the Philadelphia Semiconductor Index is the rising 200-day simple moving average (SMA). SOX bounced at this SMA in late 2023 and again last month. The most recent price action suggests it may remain support. Second, August’s low occurred near April’s trough. The level was above any level seen in any previous year, which may suggest new support has been established in new record territory. Third, stochastics are rebounding from an oversold condition. Other similar moments, followed upside in price, are marked on the lower study. Next, some individual members of the space have potential patterns, aside from leader Nvidia NASDAQ:NVDA . Micron Technology NASDAQ:MU could be forming a potential double bottom around $85. Applied Materials NASDAQ:AMAT has a similar formation around $175. Interestingly, both levels are slightly above their respective prices at the end of last year. Do these signal bullish reversals? TradeStation has, for decades, advanced the trading industry, providing access to stocks, options and futures. See our Overview for more. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options or futures); therefore, you should not invest or risk money that you cannot afford to lose. Online trading is not suitable for all investors. View the document titled Characteristics and Risks of Standardized Options at www.TradeStation.com . Before trading any asset class, customers must read the relevant risk disclosure statements on www.TradeStation.com . System access and trade placement and execution may be delayed or fail due to market volatility and volume, quote delays, system and software errors, Internet traffic, outages and other factors. Securities and futures trading is offered to self-directed customers by TradeStation Securities, Inc., a broker-dealer registered with the Securities and Exchange Commission and a futures commission merchant licensed with the Commodity Futures Trading Commission). TradeStation Securities is a member of the Financial Industry Regulatory Authority, the National Futures Association, and a number of exchanges. TradeStation Securities, Inc. and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., both operating, and providing products and services, under the TradeStation brand and trademark. When applying for, or purchasing, accounts, subscriptions, products and services, it is important that you know which company you will be dealing with. Visit www.TradeStation.com for further important information explaining what this means.
NASDAQ:SOX
by TradeStation