Nasdaq Analysis for today: 22-OCT-2024 Good morning, traders! Today's Nasdaq analysis will help you achieve your trading goals. Let's work together towards success.
Candlestick Analysis
Bitcoin (BTCUSD) - $70,000 In The MakingsIt's evident that Bitcoin has not been performing with the same strong flames like Gold, S&P, and Nasdaq as these assets have recently booked all-time high prices whilst Bitcoin is still rangebound between the $50k - $71k mark.
However, BTC is up 40%* from the lows, printed on Aug 5th 2024 with the chance of a continued run higher upto $70k - $71k especially if index futures market continues it's bull run.
Note Nasdaq and BTC. Correlation is not strong but whenever one goes up, the other follows.
Dollar Index - Busy Week Ahead. Expect VolatilityFor over 2 weeks, dollar index has been bullish, rallying up to the weekly objective of 103.546 - 104.080 fair value gap whilst also pinging off the daily bearish order block.
Bearishness this week down to the most local imbalance @ 103.444 - 103.345 (T1) and 102.993 - 103.031 (T2) would be considered a healthy retracement in the grand scheme of the bull run.
Have you not noticed that as the FED and other central banks lower their interest rates (effectively making their money to borrow cheaper) lead to a low resistance liquidity run.
Monday - 2 medium events
Tuesday - 4 medium, 1 High event
Wednesday - 3 Medium - 5 High event
Thursday - 4 Medium, 9 High event
Friday - 5 medium, 2 High events
Possible Sell Trade Today on GBPUSDThis is a very simple but profitable strategy where I have plotted the 15M Sell Zone.
Will just wait for price to visit my sell zone & watch price action to check if we will be able to open a sell trade today.
US T-Bonds - Short Term Draw On Sellside119.14 weekly lows is the main point of contact going into next week as we have seen a rejection from the weekly/daily volume imbalance as well as the weekly order block indicating further downside action.
US 10Y Yields - 2nd Bullish Leg Up To Equalibrium?Based on the last post on Yields, I was projecting a draw towards equilibrium; 4.169% with the possibility for a short term retracement down to the NWOG highly likely.
I would like to see the neighbouring FVG respected with the last line of defence @ 4.026% held throughout next week
USD, yields surge on Fed pushback, Trump rebound After just one day of retracing on Friday, the USD bull regained momentum on Monday thanks to Fed members continuing to push back on aggressive easing. Markets are also pricing in a Trump win with some polls suggesting he is ahead in three key states and some bookies even touting for him to win. In the current climate, USD/JPY could be at 152 before we know it.
MS
EURJPY: Technical Outlook ExplainedEURJPY is currently trading in a tight range on the 4-hour chart.
To confirm a bullish trend, wait for a break above the upper boundary of the range at 163.58, with a potential target of 164.50.
Conversely, a break below the support of the range could lead to a bearish continuation towards the 161.20 support level.
Audusd might go up from here Hello everyone, there’s a strong possibility that the AUD/USD could move higher from its current level.
As always, it's essential to apply proper money management and never trade without setting an appropriate stop-loss. Remember, trading is a game of probabilities, so your success should be evaluated over a series of trades, not just one.
Thanks!
Eurusd might go up from hereHello everyone, there’s a strong possibility that the EUR/USD could move higher from its current level.
As always, it's essential to apply proper money management and never trade without setting an appropriate stop-loss. Remember, trading is a game of probabilities, so your success should be evaluated over a series of trades, not just one.
Thanks!
Lower OpeningWithin an short term overbought market it becomes clearer that there will be a downward correction. The short candle body of the past 4 hours could not stop the dwindling corrective bias. The new 4h-periode has opened lower.
SoFi Not letting upHello All!
SoFi!!! I have been loving SoFi's momentum! As long as you follow the trend here, this chart is pretty straightforward. We got a Low at $7.50, push to the upside to $10, retraced just a little bit with 2 candles (Just missing my alert at $9.50 lol), and it's setting up to make a new High.
Targets: $11.50 & $12.00
*DISCLAIMER: I am not a financial advisor. The ideas and trades I take on my page are for educational and entertainment purposes only. I'm just showing you guys how I trade. Remember, trading of any kind involves risk. Your investments are solely your responsibility and not mine.*
Short trade
Mon 21st Oct 2024
Sellside trade idea
9.00 am
LND to NY Session AM
Entry 68230.3
Profit level 68461.1 (1.29%)
Stop level 68219.0 (0.11%)
RR 11.24
Reason: Observation of price action since 4.00 am (NY time) Sellside bias.
Selling can continue in INDHOTEL after closing below 678.5 Today selling intensity in INDHOTEL was very high so it can continue tomorrow,
Its already trading at support zone, if we see followup selling tomorrow then next support is far away from the current price and can give good profit if price test next support level.
Note: Its just an analysis, wait for the price to confirm.
Disclaimer: Always follow risk to reward, this is the only key to success in market, no matter how much good a trade is looking we never know the future.
GBP/USD Weekly Neutral/Bullish Outlook (21.10 - 25.10)Happy Monday traders :)
On Monday, I observed that the Tokyo (Asian session) failed to take out previous day's high and failed to fill in a daily FVG on EU, leaving a lot of sell-side liquidity yet to be taken ..
The buyside liquidity I marked was taken out during the American session. For the following week, I expect a continuation/doji on Tuesday, followed by a reversal on Wednesday, taking out the Draw on Liquidity (DOL) marked, for a liquidity grab, to continue higher.
However, if buying pressure is not strong enough , we may continue lower. (This is expected fundamentally due to the conflicts happening, which strengthens the USD.)
Ideally, I want to see price go for a grab as mentioned, then rally to my DOL mentioned at the start. From there I would want to look for shorts.
However, once again, due to fundamentals, if buying pressure is not strong , we may continue lower.
NDX100 Long HIGH RISKScalping/Day Trading Setup – High Risk
GBEBROKERS:USTEC
Key Zones: FVA + FVG + Overlapping Defense + OTE 0.705
Trade Management: Planning to take partial profits ahead of the New York session shift to mitigate potential volatility. Once the first target is hit, I'll adjust the stop loss to break-even (BE) to secure the trade.
Mother Line Stopping moves to Nifty to go ahead.As you can see clearly from the chart with daily candles that mother line of 50 days EMA is stopping Nifty from progressing ahead. Nifty since October 7 is unable to close substantially above the mother line. This is the power of Mother line resistance. Trend lines are merging and Squeezing the Nifty with very less space left for it to maneuver. Nifty is at exact crossroads with possibility of Breakout or Breakdown at time later during this week.
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Supports For Nifty are at: 24685, 24565, 24065 and Father line support of 200 day's EMA at 23417. (Below 23417 in unlikely situation of some major global escalation Bears will take total control of the market).
Resistances for Nifty: 24858, 25017 (Mother line Resistance of 50 day's EMA), 25321, 25469 and 25634. Above 25634 bulls can come back to action.
Disclaimer: There is a chance of biases including confirmation bias, information bias, halo effect and anchoring bias in this write-up. Investment in stocks, derivatives and mutual funds is subject to market risk please consult your investment advisor before taking financial decisions. The data, chart or any other information provided above is for the purpose of analysis and is purely educational in nature. They are not recommendations of any kind. We will not be responsible for Profit or loss due to descision taken based on this article. The names of the stocks or index levels mentioned if any in the article are for the purpose of education and analysis only. Purpose of this article is educational. Please do not consider this as a recommendation of any sorts.
S&P Bulls Hold Strong, But Is a Market Cooldown Coming?Last week wasn't particularly remarkable. Despite two bearish attacks (on Tuesday and Thursday), buyers still managed to push the market to a new historical high. It was somewhat concerning that they couldn’t sustain the high for even an hour after the open, but since the bearish movement didn’t gain momentum on Friday, the bulls still have the upper hand. We may see some consolidation in the upcoming weeks, as there are signs that the rally is approaching exhaustion (weakening of upthrust, weekly RSI entering the overbought zone, weakness in XLK). However, this market has repeatedly demonstrated its resilience and ability to exceed expectations.
The long-term outlook remains bullish, but given these signals, it would be prudent for buyers to downsize their positions and refrain from selling PUTs.
Mind TSLA report on Wednesday as it can cause some volatility and act as a trigger.
AUDUSD SHORTI think the AUDSUSD is going to do to the down side as well based on the same bar and trend analysis. I might be wrong but this is the feeling at get from the sentiment with this analysis.
Image below is of the daily chart
Image below is of the 5hr chart
The indicator im using has both heikin ashi smoothing a regular bar analysis.
AUDCHF SHORTI think the AUDCHF is going to go to the downside, based on the bearishness of the weekly candle. I could be wrong but this is the feeling of the sentiment i get from looking at the daily and weekly bar and trend diretion.
Image below is the chart of the daily,
Image below is the chart of 5 hour
EURCHF: Classic Day Trade From Trend Line 🇪🇺🇨🇭
EURCHF may drop from after a test of a falling trend line on a 4H.
Testing that, the price started to consolidate within a narrow range.
Last candle clearly reflects a local strong bearish momentum.
The pair may continue falling at least to 0.973 support.
❤️Please, support my work with like, thank you!❤️
Gbpusd new demand zoneHello everyone, I've identified a fresh demand zone in the GBP/USD pair, and the location looks quite promising. You can approach this trade in two ways: either set a buy limit at the weekly demand zone or use price action to enter on lower timeframes. Personally, I use both strategies.
As always, it's essential to apply proper money management and never trade without setting an appropriate stop-loss. Remember, trading is a game of probabilities, so your success should be evaluated over a series of trades, not just one.
Thanks!
