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Divergence

Copper Futures setting up for a potential long tradeCopper / HG Futures market may be setting up for a move back to the upside. After a huge expanding bullish candle in the beginning of June that saw price blast through the volume Point of Control (POC) which goes back to October last year the price then immediately reversed and we have seen a sell off for the majority of this month. However yesterday we saw a spinning top candle form at a critical point which had been a support level, this has also painted bullish divergence on the RSI indicator. Further to the above technical analysis we have also seen net buying activity from commercial operators which indicates a slight under supply : demand imbalance. On many occasions large commercial buying can lead to a price hike as supply squeeze takes hold. Lastly commodity seasonal reports also show that copper does have a tendency to sell off in the beginning of June but then turns around at the end June and price upwards again through until end of July before dipping again coming into August. I would like to see price close above yesterdays close and hold above ~$4.05 which is roughly a support zone. Ideal entries could be above yesterdays high with price targets at ~$4.25 and / or ~$4.40, which are both just below previous support and resistance levels and large volume clusters. However if price cannot break above and hold $4.05 and instead falls and closes under $4.00 then I would not be looking at any long trades.
COMEX:HG1!Long
by gary_trades
BTC/USD Head And Shoulders Pattern 4 HourHi Traders, I'm looking at BTC today on the 4-hour time frame. We don’t know if the bottom is in yet for this recent capitulation but that’s not my problem to solve. I only trade what the charts show me. If a setup presents itself and fits into my list of rules and criteria, then I will jump into a position. I'm noticing a potential head and shoulders pattern. We have full divergence on the MACD What I would like to see is the price close above the neck zone impulsively with substantial bullish volume to accompany that move. I would then look for low bearish volume on a retrace down to the neck zone. Once the price retraces deep into the neck zone, I would open up a long position My target would be the 23.5k level Trade safe out there! The Vortex Trader
BITSTAMP:BTCUSDLong
by TheVortexTrader
Long term buy on GBPUSDGBPUSD is trending on a solid support, on the weekly chart, we will search for buy setups using Elliot Waves, Fib extensions (from many points of view) and Fib retracements. We will also discuss the emotions of traders, where the sellers could start getting exhausted, and taking their profits so we can see the market bouncing. Divergence comes at the end to confirm my trade. Be careful, long-term trading needs a serious risk management, the stop loss is never close. Don't consider the buy order at the end of the video, the recording run out of time and i couldn't explain the entry precisely. This video is in Arabic language (Lebanese), I can start making english videos if you traders on tradingview are interested in my ideas. Thankyou, Joe
Long
by joe-abdallah
2
EUR/USD Double Bottom Daily Time FrameHi Traders, I am looking at this potential Double bottom forming on the Daily Time Frame for EUR/USD We've seen this descending trend line act as resistance since early February. We can see we also have two clear bottoms with accompanied divergence across the MA lines of the MACD. If we can see some impulsive price action accompanied by sizeable bullish volume that breaks us out of the descending trend line, ( and closes above the neck zone ), I would then wait for the price to retrace back into the neck zone before opening up my long position. Targets would be previous price structures. Daily chart patterns are a great way of practicing patience haha. Trade safe out there! The Vortex Trader
Long
by TheVortexTrader
LBS / Lumber Futures potential long trade incomingMy chart idea illustrates a confluence of fundamental and technical analysis which leads me to believe a long trade in the Lumber futures market may getting close. On the fundamental side: - We have seen Commercial buyers become net long for a whole month, last time this happened was mid 2020 and this then led to a ~130% price rise over 2 months when the price went from roughly $350 up to $820, albeit it was a bumpy ride with numerous gaps up and down along the way. This recent commercial buying activity is shown with the blue above the zero line in the COT report indicator. On the technical side: - There is clear bullish divergence on the daily chart between price and the RSI. Key technical levels to watch: - Volume profile going back almost 1yr (as much as I could fit onto daily chart) shows the biggest volume cluster / Point of Control sits around $620, so price needs to break above this and hold the level to confirm break of down trend. - Coincidently the above mentioned level measures up almost precisely ($618) with a Fibonacci level when using the recent double top as anchor points. - When drawing a simple trend resistance line from the recent high in march and down to current price then you can see that this trend has not been broken yet, however the line recently intersected $620 level. If price breaks the trend then the $620 level shouldn't be far off. - Lastly on the weekly chart price is just touching oversold levels in the RSI. Historically Lumber hasn't prolonged periods at this level, it typically touches or breaks the level and reverses back within a few weeks. In summary it looks like ~$620 is a key level that needs to be broken above and if it can hold that level until weeks end then I'd be looking to position a long entry. The Lumber futures market does offer big reward when it moves however it is very illiquid with tendency to price gap once it starts trending so caution needs to be exercised!
LLong
by gary_trades
[Signal] EURJPY: Safe Haven PlayFX:EURJPY Timeframe: H1 Direction: Short Technical Confluences for Trade: - Price action at Resistance of Ascending Channel - Stochastic Overbought momentum - Widening of the EMAs Fundamental Confluences for Trade: - There is some risk with EUR spiking higher due to the rising inflation situation in Europe but at the same time, global inflation pressure is starting to leave a drag on growth. Risk assets may continue to take a beating and may see some safe haven plays. - Inflationary pressure is starting to pick up in Japan; may see a change in BOJ's monetary stance (reducing the yield differential between the US and Japan) Suggested Trade: Entry @ Area of Interest 139.70 - 140.50 SL: 140.92 TP1: 139.25 (move SL to Entry level once TP1 is achieved) TP2: 137.85 RR: Approx. 3.30 (Depending on Entry Level) May the pips move in our favor! Good luck! :D *This trade suggestion is provided on an advisory basis. Any trade decisions made based on this suggestion is a personal decision and we are not responsible for any losses derived from it.
Short
by weekendanalyst
BITCOIN - Bullish Divergence... 👀 🚀In our last Bitcoin analysis, we were waiting for the 4th wave to appear which we now have. We are on the final legs of the ABC and we have a solid level to look for price to stay above, which is above 19.5K. The bullish reversal can come in anywhere above that price. It will be more clear once we get the final leg down. We can see that there's bullish divergence at play at the moment. The last time we saw any kind of divergence, it was in 2021 where we had bearish divergence. Bitcoin went on to crash more than 50%. The bullish divergence is indicating that there's a trend reversal coming soon.. and it's going to be a big one! Trade Idea: - Watch lower timeframe trendline breaks for the 5th wave lower - Targets: 27k, 24k, 20k Once we're near the bottom, we can look for any bullish reversal patterns at which time we can load up and ride Bitcoin to 100K! 🚀
by WicktatorFX
11