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Retracement

DAX 30 Waiting For An Opportunity To Go LongHi Traders, Looking at the DAX today. On the Daily, we see that price has flipped from support to resistance and we are ranging between the 1245 and 1480 price levels. Dropping down to the 4-hour time frame, we can see that price is descending and broadening out. We do have divergence across the MACD which helps give a bit of confluence to some potential positive price action occurring in the near to mid-term future. I don’t typically trade these types of patterns but what I would want to see for me to validate going long is the following : An impulsive break above the top of the descending trend line A retrace with low volume to the top of the descending trend line. My target would be at the daily resistance range level around the 1480 price point. Let's keep an eye out. This is purely technical. I only trade what the charts show Trade safe out there! The Vortex Trader
OANDA:DE30EURLong
by TheVortexTrader
[S&P500, NASDAQ, and BTC] Can't you all three be bullish please?Hello everyone. Today we’ve prepared a comparative technical analysis for S&P500, NASDAQ, and Bitcoin in macroscopic perspective by observing daily and weekly charts. Line charts for future commodities from CME were used which are ES1, NQ1!, and BTC1!. Also, in order to observe possible trend reversal signal, RSI indicator with default length of 14 was referred with. Let’s start with daily charts. S&P500 made a significant high at January 3rd while NASDAQ and Bitcoin made highs about two months earlier: at November 19th and 9th respectively. Let’s have a look at the markets after forming historical highs. S&P500 bounced up to 0.618~0.786 retracement level of the corrective wave structure and then dropped reaching 1.414~1.618 projection levels. Similarly, NASDAQ retraced up to 0.618 level of the correction and then dropped reaching 1.13~1.272 projection levels. In contrast, Bitcoin was much more bearish only retracing about 0.382 level and then continue to drop quite steeply reaching 0.786~0.886 projection levels. RSI indicators are also showing some different aspects for Bitcoin, compared to other indices. Both the prices of S&P500 and NASDAQ showed LL(Lower Low) while RSI of these showed HL(Higher Low) during 1/27~6/16 and thus indicating bullish divergence signals On the other hand, both the price and RSI showed LL for Bitcoin which means divergence is no longer valid. US indices generally showed decent amount of bullish rallies in between corrective waves time to time and bullish divergences appeared as well so some technical dead cat bounce or PRZ(Potential reversal zone) can be expected. However, wave structure for Bitcoin seems to be a bit more bearish due to smaller upward retracements, steeper falling waves, and absence of bullish divergence signal. Let’s then look at weakly charts which can be interpreted as more macroscopic views. I have selected the lows formed right after COVID19 shock for all these three. As can be observed, Bitcoin went through deeper retracement for about three months (4/12~7/12) throughout the bullish rally towards the historical high. After, even though Bitcoin made a swing high, this dip in the middle affected RSI to be cooled down a little bit pulling RSI down. Comparing retracement levels of each impulsive waves starting from the COVID19 for these three, 0.382~0.5, 0.5~0.618, and 0.707~0.786 Fibonacci retracement levels have been reached for S&P500, NASDAQ, and Bitcoin respectively. Bitcoin clearly has shown deeper retracement than the US Indices. Moreover, short-term bullish divergences can be observed on US Indices and mid-term bullish divergences on both NASDAQ and Bitcoin. Weekly charts indicates some signals of possible short-term dead cat bounces for US Indices and some of possible mid-term bounces for NASDAQ and Bitcoin. Personally, I think S&P500 might be a little bearish in mid-term perspective than other two.
CME:BTC1!
by Tommy_Trader
NZDCAD short confimed - Generally, the price has been on a downtrend at higher timeframes. The move to the upside is just a retracement which is now over. - The price retraced and touched the Optimal Trade Entry (OTE) level on the fibs as it retested the breaker and at the same time it took out the previous equal highs. Doing so in a supply zone gives me more assurance to pull the trigger and go short. - Additionally, there is a liquidity void that needs to be filled on the downside. I recommend that you apply proper risk management if you are to take this trade. Like and Subscribe.
Short
by El_Chapo_Jr
USD/ZAR LongUSD/ZAR pair has been moving bullish over the last few weeks. Looking at the daily time frame. It is now consolidating in a bull flag right in the middle of the channel at resistance after retracing to the 0.618 fib level. With a good breakout of the bull flag resistance should be broken and become support. I am looking to enter upon the break out and close above BOTH the flag and the 16.1148 resistance level. Doing this would make it highly probable to complete its move to the top of the channel which is the 0.618 fib extension at just over 17.500.
Long
by Just_Jacqs
NQ Power Range Report with FIB Ext - 6/15/2022 SessionCME_MINI:NQM2022 - PR High: 11401.75 - PR Low: 11361.50 - NZ Spread: 125.5 Evening Stats (As of 12:00 AM) - Weekend Gap: = -0.74% - Session Open ATR: 406.45 - Volume: 25k - Open Int: 199k - Trend Grade: Bear - From ATH: -32.0% (Rounded) Key Levels (Rounded - Think of these as ranges) - Long: 12390 - Mid: 11820 - Short: 10680 Keep in mind this is not speculation or a prediction. Only a report of the Power Range with Fib extensions for target hunting. Do your DD! You determine your risk tolerance. You are fully capable of making your own decisions.
CME_MINI:NQM2022Long
by mv3trader5
BTC LOGARITHIMIC CHART EXT./RETRACEMENTExtension/Part 2 of my BTC's Logarithmic Chart. Looking at past retracement pattern we see btc retraces 30-40% after every bull market, so if we follow that btc's bottom will be 20k or more, but for that we might need a push back upwards, above the 70k range, around 80k which can be possible if we get a reversal from this current consolidating range, but keeping the macro economic conditions in place a 50% or more retracement is quite possible
INDEX:BTCUSD
by abdulganibareen
1
EURUSD can not continue to the upside Yesterday we talked about possible buys on EURUSD. Right now, it looks like this move doesn't have enough strength. That's why, we should probably close the long positions and wait for a clear price action with a better setup. The main idea now is to watch out for reversal signals, therefore looking to sell. The correct and confirmed entries will be only after a breakout of 1,0625. If we see some momentum and rise above 1,0752, then again we can look for long trades.
by ForexTrendline
9
Why Do Pullbacks / Retracements Happen?When price moves from A to B, it rarely moves in a straight line. To get from A to B, price moves in that direction, retraces a little, then moves in that direction again. Why does that happen ? 1. Natural supply / demand dynamics The further price stretches up the less buyers join into the move. After some time whoever wants to buy already has bought. The others which have not yet will look for a retracement to buy again or to even short the move.Sellers will inevitably start testing the move. To see its strength at a point where they feel buying is at its weakest. As the sellers join the fight, buyers will see the upward momentum drop. Some will begin to sell out pushing momentum further down. The market makers who are moving the market the most will also reduce their buying pressure so they can save their capital to support the market after the retracement In order to ensure that there will be a higher swing low. 2. Manipulation by market makers. "Saving their capital" sometimes generates whole trends, rather than just a small pullback. Long uptrends for long periods of times will eventually finally hit consistent supply above which MM will not be able to push further. At this point the big players will start dumping a large amount of their supply the market goes into a steep decline covering almost the entire distance of the uptrend before the big player starts to scoop up all the inventory at a low price and repeat the upside move again. 3. Shaking out weak hands In order for a market to push higher. It needs to shake out the weak hands by engineering pullbacks. Weak hands will provide the necessary liquidity for the market maker to push the price higher. 4. Stops hunting. Market makers know perfectly well there will be traders moving up their stops up with the market. They will hunt them down. Sophisticated algos and trading programs will be used for this which further adds to the supply that causes retracements to occur. If you enjoyed this information make sure to live a like! Let me know in the comments what you think about it!
BITSTAMP:BTCUSD
by Toni_G21
BTC to 25k or lowerIn the last few weeks, Btc showed an uptrend, that is lately losing momentum due to a lot of bearish pressure. This pressure seems to be manipulated, and Btc will more likely retrace to new lows below 25k. For now, Btc is building a descending triangle (diagonal red line and blue line), and fakeouts seem to trap bulls. Possible scenarios: 1) If BTC goes up, it will probably not go over the short term resistance of 31k and will retrace to lower levels touching the blue line. 2) If BTC loses 28.6k support, it'll dive to 25k and below. If none of these 2 scenarios happens, we will continue the sideways trend between 32k and 27k for a long while. I would stay away from trading until positive signals. This is not financial advice. Make your own research.
Short
by Casablanca05