China A50 stalemate nears potential breaking pointLooking at A50 on the daily, you can see the index has been stuck in a downtrend since the middle of May, with only brief countertrend rallies interrupting the broader move lower. The index looks to be in another right now, grinding higher after bottoming in early August. However, the price has been rejected multiple times at the 200-day moving average, including this week, seeing it drift back to test channel support.
Given the limited distance between the two levels, and proximity of downtrend resistance that now intersects with the 200DMA, it feels like we’ll get some resolution on medium-term directional risks at some stage this week. From a momentum perspective, RSI (14) and MACD continue to generate bullish signals on momentum, marginally favouring upside over downside.
My preference would be to wait for a break in either direction before entering trades.
If the price manages to break through the 200DMA and uptrend, traders could initiate longs above the former resistance zone with a tight stop below for protection. Possible targets include 12,000 or 12,352. Alternatively, if channel support breaks, you could sell below with a stop above for protection. Targets include 11,638, 11450 or 11,375.
Good luck!
DS
Indices
Why the 'record high' on Dow Jones underwhelms...Another day, another record high for a US stock market. Only the one seen on the Dow Jones underwhelms given it is not backed up by its own futures market, let alone its peers. We're also approaching end-of-month flows (which can prompt fickle price action). And keep an eye on the Nvidia earnings report on Wednesday (US) which can single-handedly drive sentiment on Wall Street.
NAS100USD / UNDER BULLISH PRESSURE - 4HNAS100USD / 4H TIME FRAME
HELLO TRADERS
Tendency , prices is under upward pressure , until trading above turning level at 40,680
Upward Condition : The price is currently experiencing bullish momentum. As long as it remains above the 19,600 turning level , it is likely to move upward toward the resistance levels of 20,234 and then 20,553 .
Downward Condition : To reach the 19,188 support level (1) , the price needs to first break the turning level by closing a 4-hour candle below 19,600 . If it stabilizes below support level (1) , a further decline toward the support level (2) at 18,774 can be anticipated .
TARGET UPWARD ZONE :
RESISTANCE LEVEL (1) : 20,234 .
RESISTANCE LEVEL (2) : 20,553 .
TARGET DOWNWARD ZONE :
SUPPORT LEVEL (1) : 19,188 .
SUPPORT LEVEL (2) : 18,747 .
TURNING LEVEL : 19,600 .
SPX500 H4 | Approaching all-time highSPX500 is rising towards a swing-high resistance and could potentially reverse off this level to drop lower.
Sell entry is at 5,673.64 which is a swing-high resistance that aligns close to the all-time high.
Stop loss is at 5,710.00 which is a level that sits above the 127.2% Fibonacci extension level and the all-time high.
Take profit is at 5,579.72 which is an overlap support level.
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NASDAQ => Pullback Phase Approaching The Trend!!Hey Traders, in today's trading session we are monitoring NAS100 for a buying opportunity around 19150 zone, NASDAQ is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 19150 support and resistance area.
Trade safe, Joe.
DXY Potential Longs from 100.200 back upMy current bias for the dollar is very much bearish, as price has broken structure to the downside once again. While I don’t trade the dollar directly, I use it as a confluence to confirm trade ideas for other pairs like GBP/USD (GU) and EUR/USD (EU). Since I’m looking to short both pairs right now, this bearish outlook on the dollar makes sense.
In scenario (B), I can see the price heading to the 9-hour demand zone, where it might accumulate and then shoot back up to the next supply zone. With the recent break of structure (BOS), a nicely formed 4-hour demand zone is also in play.
Since price is currently in a supply zone, I’ll stick with this bias until the dollar "shows its hand." However, if the dollar slows down and begins to accumulate on Monday, we might see some promising opportunities this week.
Given that this is a counter-trend trade, I’ll be cautious, aiming for high risk-reward ratios while keeping an eye on the nearest demand zone for entries.
Happy trading, guys!
S&P 500 Daily Chart Analysis For Week of Aug 23, 2024Technical Analysis and Outlook:
Throughout the current week's trading session, the S&P 500 Index has demonstrated notable resilience, surpassing the Mean Resistance level of 5564 and positioning itself beneath the attained Inner Index Rally at 5666. The prevailing price action indicates a sustained upward momentum aimed at retesting the completed Interim Index Rally at 5666, with an eye on the subsequent upside objectives represented by the Inner Index Rally at 5745 and the ultimate Outer Index Rally at 5840. It is important to note that the attainment of these targets is likely to prompt a selling price action.
DAX H4 | Approaching pullback resistanceDAX (GER30) is rising towards a pullback resistance and could potentially reverse off this level to drop lower.
Sell entry is at 18,579.74 which is a pullback resistance.
Stop loss is at 18,700.00 which is a level that sits above a swing-high resistance.
Take profit is at 18,302.64 which is a pullback support.
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Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you.
Stratos Markets Limited (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Trading Pty. Limited (www.fxcm.com):
Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com
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Losses can exceed deposits.
Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd.
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Short Trade of EURUSD1- The Euro Index is reaching a resistance and then falling down
2- The dollar index is reaching its support line and then going up
*** which means EURUSD will be downtrend
TP: 100% of the previous correction swing will be at least the profit
ST: First resistance of the price near above and close to it
I can only see more buys on NASHello everyone, hope we're all having a good day !.
There's not much to be said here, price keeps breaking highs but where price is right now, it needs to do a short pullback to the order block there in my buy tool before it continues the buy...that's pretty much what I'm seeing, nothing much to do.
Use proper risk and money management...kindly wait for NYSE open tomorrow before you start looking for buys around that order block i placed my buy tool and make sure you have your own confirmations as extra confluences !.
US30 ( UNDER BULLISH PRESSURE ) - 4H US30
HELLO TRADERS
Tendency , prices is under upward pressure , until trading above turning level at 40,680
Upward Condition :The price is currently experiencing bullish momentum. As long as it remains above the 40,680 turning level , it is likely to move upward toward the resistance levels of 41,040 and then 41,401.
Downward Condition :To reach the 40,239 support level (1) , the price needs to first break the turning level by closing a 4-hour candle below 40,680. If it stabilizes below support level (1) , a further decline toward the support level (2) at 39,812 can be anticipated .
TARGET UPWARD ZONE :
RESISTANCE LEVEL (1) : 41,040 .
RESISTANCE LEVEL (2) : 41,401 .
TARGET DOWNWARD ZONE :
SUPPORT LEVEL (1) : 40,239 .
SUPPORT LEVEL (2) : 39,812 .
TURNING LEVEL : 40,680 .
Could price reverse from here?Dow Jones (US30) is rising towards the pivot which acts as a pullback resistance and could revers to the 23.6% Fibonacci support.
Pivot: 41,036.40
1st Support: 40,643.17
1st Resistance: 41,405.66
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DJIA H4 | Heading into swing-high resistanceDJIA (US30) is rising towards a swing-high resistance and could potentially reverse off this level to drop lower.
Sell entry is at 41,032.64 which is a swing-high resistance.
Stop loss is at 41,523.00 which is a level that sits above a swing-high resistance at the all-time high.
Take profit is at 40,417.18 which is a pullback support.
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Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you.
Stratos Markets Limited (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Trading Pty. Limited (www.fxcm.com):
Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com
Stratos Global LLC (www.fxcm.com):
Losses can exceed deposits.
Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd.
The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
Bullish momentum to extend?DJ30 is falling towards the support level which is a pullback support that lines up with the 23.6% Fibonacci retracement and could bounce from this level to our take profit.
Entry: 40,513.44
Why we like it:
There is a pullback support that lines up with the 23.6% Fibonacci retracement.
Stop loss: 40,044.69
Why we like it:
There is a support level which aligns with the 50% Fibonacci retracement.
Take profit: 41,097.91
Why we like it:
There is a pullback resistance.
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
DXY => Recession Risks and Potential UpsidesHey Traders, in tomorrow's trading session we are monitoring DXY for a buying opportunity around 102.150 zone, DXY is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 102.150 support and resistance area.
Trade safe, Joe.
ASX futures snap 9-day streak, further downside loomsYesterday I outlined why I was suspicious of the ASX 200 rally, and today I see it has now retraced. The ASX 200 futures market snapped an 11-day streak after forming a bearish pinbar perfectly at a 78.6% Fibonacci level, below the 8,000 handle. Volumes have been declining during the entire ‘rally’ which shows a lack of bullish enthusiasm, and potentially points to a deeper pullback.
A bearish trend has developed on the 1-hour chart, and the support zone ~7917/25 has now been respected as resistance. The bias is to fade into rallies towards that resistance zone in anticipation of a move down to 7860.
GER30 H1 | Potential bullish bounceGER30 is falling towards a pullback support and could potentially bounce off this level to climb higher.
Buy entry is at 18,367.33 which is a pullback support.
Stop loss is at 18,200.00 which is a level that lies underneath a pullback support.
Take profit is at 18,582.14 which is a pullback resistance.
High Risk Investment Warning
Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you.
Stratos Markets Limited (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Trading Pty. Limited (www.fxcm.com):
Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com
Stratos Global LLC (www.fxcm.com):
Losses can exceed deposits.
Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd.
The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.