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$SPY October 24, 2023AMEX:SPY October 24, 2023 15 Minutes We had a red to green day. Gap down. Made a low 417.81. The next bar was green. And close near top of bar. We can catch this move earlier in 3- or 5-minutes time frame. If we take the fibo 424.77 to 417.81 the second bar closed on top and also above 38.2% levels. At the same time we had a divergence in Elliott oscillator. For target we can draw a fibo from 420.46 to 417.81. That gave us 424.75 to 426.5. High was 424.45. It was nearly 1:1 trade. Risky but worth it as it was steep fall last few days. Now the rise 417.81 to 424.45 retraced to 61.8% around 420.5. So, if we take the fall 424.45 to 420.25, we can expect a retracement to 422.5 levels. As of now 412-414 looks more probable than 426-430 levels which is 100 and 200 averages. As the moving averages are sloping downwards, we can expect a consolidation around 418-420. So, upside I have 424.5 as target and downside 412-414 a target. The first 15 minutes should give us a direction, hopefully.
AMEX:SPYShort
by RiderTrader
Oil ready to run?Looks like $OXY is in the mix of a bullish divergence. So lets dig. Look at the lower low on the price it is sharp. It needs to rest the oscillator. Here is the thing, if we can hold above the 0 line on the MACD and start to open up we can see the ticker really run. Bull Case we have a divergence forcing the gap up. I am looking that if there is a gap fill to take it back to the top with the ema as support. We will see what the market have. for continuation it need to blow pass $65. One of those are the entry. Bear case first time above the ema since November with 2 candle open and close. This gap fill will be the beginning of the run back down. We are below the 0 line, there is nothing here to see but read. Break below $62 new lows will follow.
NYSE:OXYLong
by JDTheGreat
MASSIVE BOTTOM in the SP500?I was not looking for a bottom in the SP500, but for Relative Strength in Gold with the relative Strength line from Trader Lion´s Indicator, on the weekly timeframe. Yet I noticed that the last peak in Relative Strength in Gold was on march 16th 2020. This made me curious so I went back and looked at all RS Peaks from 2008 till now, and they all coincided with bottoms in the SP500 to the very day. Some of those bottoms were absolutely massive buying opportunities: 2/3/09, 6/28/10, 2/1/16, 3/16/20, I also counted the peak on 12/17/18, despite a missing peak signal. Two Peak Signals were wrong or early, for example we had a signal on 3/9/20 (7 days before the real signal and real bottom), and one signal on June 6th 2022, so 7 days before the signal we got right now, on 6/13/22. I also want to point out, that on every other occation, we didnt have massive inflation and a tightening into worsening economic conditions. So I wanted to see more confirmation, for that purpose I´ve used the McClellan Summation Index, and the McClellan Oscillator. The MO shows a nice bullish divergence, and the MSI shows an abysmall market breadth, often coinciding with bottoms in the market. Do with this information, whatever your confirmation bias makes you want to do, but stay safe and manage risk! This is not financial advice and I am more often wrong than right. Pesonally, I will buy some Calls and reduce my short positions.
TVC:GOLDLong
by Cyranus
Bitcoin – my trading plan revealed!Hello, everyone! Last time we considered Elliott wave analysis on the daily and 4h timeframes and defined $29k as a mid term target. Today I wanna show you my overall view on the market, when the bear market end and new bull market start. Let’s go. Bitcoin – which global wave? Let’s take a look at the BTCUSDT chart on the KuCoin exchange. Here we can see that waves 1, 2 and 3 has already formed by the price. Now the wave 4 is about to happen. This wave has the critical value which can not be broken – $32660 – wave 1 low. I want to remind you that according to the main axiom of Elliott waves wave 4 cannot overlap the wave 1, except the cases with terminal diagonal triangle, but now it is not the case anymore. The wave 4 can end from 0.38 to 0.61 Fibonacci levels, but only 0.38 is below the critical level. Thus, my mid-term trade has the target at the $29500. Here also could be the balance (teeth) line of the Williams alligator, which is the conservative target for wave 4. I am 99% sure that the current wave is wave 3 because the minimum AO value. The 5-Elliott wave trend could be ended only with the divergence with the awesome oscillator. After the wave 4 completion I expect the wave 5 which will definitely break the current low at $17600. Dollar currency index confirms my theory! Let’s take a look at the DXY chart below. It fully confirms my scenario. Do you know what is the best indicator for crypto bear and bull cycles? Of course – DXY! It usually falls when the risky assets are growing. Here we can see the clearest Elliott 5-waves cycle. Wave 1, 2 and 3 have been already formed too, like on Bitcoin, but to the upside. Perfect! Now the DXY shows us the weakening of the uptrend, trust me on the 1D timeframe we can also find the structure of the subwaves which tells us that the wave 3 is finished. Now I anticipate the correction to the target zone. I think it will be to the 0.38 Fibonacci, like for the Bitcoin, but it does not matter. The only thing is important, we will see the correction and as a result the growth in crypto. The wave 5 here will be the last in the BTC bear market. We can use DXY to confirm the waves on the Bitcoin in such a way. Good luck!
by Skyrexio
6
Potential Sell TradeMy trade setup is based on technical analysis and price action trading. I noticed a head and shoulders pattern on the daily, weekly and monthly time frame. For those who don't know what heads and shoulders is, this is a chart pattern that signals a potential reversal in the trend. Anyways, as I was explaining, this Head and Shoulders formed in an ascending channel and with the positive NFP data I think market is turning bearish to the nearest support area. I further confirmed my hypothesis when I spotted a Divergence pattern on my chart and Awesome Oscillator. This divergence pattern is when the chart and indicator move away from each other which is a potential reversal. For my entry, I propose waiting for price to breakout of the range and wait for a retest to enter the sell trade. Please note that this is a potential swing trade and is just my idea of market direction. HAPPY LEARNING AND TRADING!!
Short
by GWL_CORP
BTCUSDT intraday reached the peak of the last upward swingBTCUSDT intraday reached the peak of the last upward swing. Now, as we can see on this chart, BTCUSDT price action is reacting to 78.6% Fibonacci retracement level which is a key level to shorts. Actually the price is in a potential reversal zone. Considering the reversal from this peak the price accomplished a prior zizag with this pullback for a expected downward. The local support is the demand to reached in a 2-day swing trade. Overbought condition as can be read on Ehlers Stochatisc CG oscillator. Plus a comparing price line from LinkdownUSDT of Binance to show to you an option to avoid of the liquidity risk. Don't be FOMOed and a moonboi will safe you of losts.
Short
by firmestudio
AUDCHF 9th APRIL 2022AUDCHF H4 chart, Based on technical analysis follows the trend with the help of MACD oscillator. Bullish potential can be seen. Technically there are 2 reasons AUDCHF possible to be bullish : 1. The price has touched the support area. 2. The histogram of MACD has shown a dark red fading, which means the bearish trend is weakening. Risk : MACD Line has not crossed yet, which means it has not been confirmed for bullish. Bearish can also occur if the price manages to breakout from the support area. Opportunities : We can enter now to get a better risk reward ratio.
Long
by DNP-FX
4
Sniper Stochastics indicator by SpreadEagle71 on USOILI have had a little bit of success with the indicator Sniper Stochastics configured with Fibonacci numbers to show price reversals on the oscillator. The two lines in Sniper Stochastics consolidate and form one line above 80 and below 20, it represents a clue. The clue is that a price reversal is about to occur. Once the price reversal occurs, when the two lines separate it represents a trend. The trend may be up or down. Follow the trend up or down until the two lines consolidate again and it will be time to exit the trade. It's certainly a great indicator that helps you trade the USOIL CFD. This analysis has been done on the 15 minute chart. Cheers
TVC:USOIL
by UnknownUnicorn912188
1
Is Snap Overbought?Snap had a sharp rally on February 4 after quarterly results beat estimates. But now its longer-term downtrend may be reasserting itself. The first pattern on today’s chart is the stochastic oscillator. It’s swinging back to the downside after jumping into overbought territory. Next, price tested but was unable to break above the 50-day simple moving average (SMA). That suggests the downtrend remains in effect. Third, notice how the recent high occurred slightly above $40, near the mid-December low. It’s also close to the high-volume breakout area in October 2020. Has this price zone become resistance? Finally, the macro backdrop may be challenging for SNAP given the weakness in growth stocks and the broader communications sector. TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more. Important Information TradingView is not affiliated with TradeStation Securities Inc. or its affiliates. TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all 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. Please click here for further important information explaining what this means. This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates. Investing involves risks. 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, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: www.tradestation.com .
NYSE:SNAP
by TradeStation
2
Divergence along with a good patternHello everyone Before we start a discussion, it is my pleasure to read your opinion on this post's comment section and support this idea with your likes if you enjoyed it ! XLMUSDT : Possible elliot count was shown in the chart. please note that at wave 5 we have an ending pattern with a divergence between the price and MACD oscillator. the evidence support an idea of possible upside short term trend. the price breaks the ending pattern and triggers the long position. please remember any analysis can be failed. so, manage your risk and respect your stop loss.
Long
by niktraders
Hindenburg Omen" sell signal with the MCO oscillatorHere's the "Hindenburg Omen" sell signal with the MCO oscillator. The indicator suggests not buying/going short for 30 days when confirmed, it is only is confirmed if/when the MCO is negative during the 30-day period and rejected if the MCO turns positive. The S&P is trading well above historically fair valuations and the fed hiking rates should act as gravity to stock valuations. I expect the S&P to return to between 18 and 20x earnings. Which would be about $4000.
SP:SPX
by oliverslade
1
Ready to dig some GOLD!Price already pullback from my previous analysis. Now, im expecting price will go down a little bit more to 261 area and i will wait for buying breakout in lower time frame. As well as signal from stochastic oscillator. This setup is a very good one because you only risk small amount if the price going down until invalidation level. Please put your stoploss below the invalidation level to make sure you control your risk as its a volatile instrument. Dont forget to comment if you like my analysis. Happy trading and trade wisely
OANDA:XAUUSDLong
by FiboLovers
1
Bitcoin – pump soon, be patient!Hello, everyone! I told you in the previous analysis that you should not panic if you see this dump to $54000 – $57000. Moreover, I spotted the target price and time for corrective Wave 4 end. See the articles in the links below to make it clear. If you look at the chart, now the price is inside the target zone. The global Wave 4 is introduced as the incorrect A-B-C correction. Wave A consists of 3 waves (a-b-c), Wave B – the same. Wave C has the 5 Wave structure (1-2-3-4-5). Now the Wave 5 is forming, we can see it because Wave 3 ended with the maximum value at Awesome Oscillator. The price will probably find the bottom at $54000 and after that we will see the global Wave 5 with the final target at least at $75000. Just wait and be patient! This bullish scenario will be invalidated if the price fall below the $53000 (global Wave 1 top). DISCLAMER: Information is provided only for educational purposes. Do your own study before taking any actions or decisions at the real market.
Long
by Skyrexio
5
Bitcoin, Dominance and New Altcoin SeasonHello, everyone! First of all I want to fix one mistake from the previous Bitcoin analysis. The Global Elliott Wave 3 is going to end much higher and it is definitely break the ATH. But the incoming correction is going to be according to Wave 2 of the Elliott Waves lower order. I think that current Wave 1 is not going to break ATH or may be squeeze it up. I anticipate the small correction before the ATH breaking. The Wave 1 is going to end soon because of bearish divergence with the Awesome Oscillator. The deepest target zone for wave 2 is approximately $54000 and I suppose that the end of Wave 2 can be the new Altseason start. It also corresponds to Bitcoin Dominance chart (see below). I think it repeats the 2017 cycle. We will see a correction of dominance to 48-51% and then a decrease to 30%. May be the Bitcoin season will last much more, because it needs a fuel to grow to $90.000, but this would be nice point for altcoins buying, because I believe they will not drop much lower in the next few month. DISCLAMER: Information is provided only for educational purposes. Do your own study before taking any actions or decisions at the real market.
by Skyrexio
Opportunity for a ShortThis is my First idea that share with you. I supposed the price action will move downwards because, the price action already broke a strong support line and retested the same support line as a new resistance line. We can confirm that with more confidently cause to hidden bearish divergence that formed according to stochastic oscillator. But last few 15min candles are not stronger enough, so its better to looking for a strong reversal candle patiently and get a short entry. --Please share your ideas with me as well by drop a comment-- Have a profitable week traders, Good luck!!!
TVC:USOILShort
by dashanmihiraj
GBPUSD Rallies Toward Overhead Resistance on H1The above charts refer to the GBPUSD. The left chart shows the daily time frame. Price is below the black 20-day SMA and the SMA is heading down. Moreover, the RSI is below 50, which is on the bearish side of the oscillator. The right chart shows the hourly time frame. Here, price is rallying with the EMAs in bullish mode and the RSI above 50. Overhead resistance is around the 1.2175 level (red shaded horizontal). This may be a target level for short sellers.
Short
by FXCM
1