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NAS100USD ( INSIDE DEMAND ZONE ) (4H)NAS100USD HELLO TRADERS Tendency , the price inside demand zone it is a sensitive area between 19,116 & 18,776 . TURNING LEVEL (1) : the price of this level at 19,116 , so if the price breaking this level reach a resistance level (1) . TURNING LEVEL (2) : the price of this level at 18,776 , so if the price breaking this level reach a support level (1) . RESISTANCE LEVEL (1) : this level around 19,526, for reach this resistance level the price need breaking a turning level (1) . RESISTANCE LEVEL (2) : around 20,112 , for reach this level it will be breaking by open 4h or 1h candle above resistance level (1) SUPPORT LEVEL (1) : this level around 18,236 , for reach this support level the price need breaking a turning level (2) . SUPPORT LEVEL (2) : support level at 17,811 , for reach this level will be breaking by open 4h candle below support level (1) . CORRECTIVE LEVEL : currently price 19,060 , have two scenario , first corrective turning level (1), before dropping to touch a turning level (2) , then breaking this level reach a support level (1), second corrective turning level (2) , to reach a turning level (1) , then breaking this level reach a resistance level (1). TARGET LEVEL : RESISTANCE LEVEL : 19,526 , 20,112 . SUPPORT LEVEL :18,236 , 17,811 .
OANDA:NAS100USD
by ArinaKarayi
GameStop ($GME) Technical Analysis: A Harmonious Bullish Journey### GameStop ( NYSE:GME ) Technical Analysis: A Harmonious Bullish Journey #### Current Financial Data As of the latest market close, GameStop Corp. (NYSE: GME) is trading at $24.43 , reflecting a change of 1.75% from the previous trading session. The stock has a market capitalization of $8.58 billion, with a 52-week range of $9.95 to $64.83. The average 5 day trading volume stands at 12,258,820 shares. #### Long-Term Harmonic Bat Pattern Since reaching an all-time high (ATH) on May 14, GameStop's stock has been slowly carving out a harmonic bat pattern on larger timeframes. This pattern, known for its predictive power, suggests a potential bullish reversal. The bat pattern is characterized by its specific Fibonacci retracement levels, which GME has been respecting, indicating a well-structured technical setup. #### Falling Wedge Formation Around July 1, a falling wedge formation was observed, typically a bullish continuation pattern. This formation indicated a consolidation phase within a broader uptrend, providing a precursor to a potential breakout. True to form, GME began to show signs of upward movement following this pattern, marking the beginning of a new bullish phase. #### Price Movement and Momentum Post- July 1 , GME saw a price retraction to the $23.37 mark. This pullback was instrumental in building bullish momentum as traders accumulated positions, anticipating the next leg of the harmonic pattern. The slow price retraction allowed for the formation of a solid support base, critical for the upcoming bullish journey. #### Resistance and Targets Currently, GME is approaching a significant resistance level at $31.69. Breaking through this level is crucial for further bullish progression. Upon successfully overcoming this resistance, the first target stands at $37.78 . This target is strategically placed just before another anticipated retraction around the $32 mark, providing a healthy correction and consolidation phase before the next bullish surge. The second target is set at $53.44 . Achieving this target would mark a significant milestone in GME's bullish journey, completing the second leg of the harmonic bat pattern. This level aligns with the 161.8% Fibonacci extension from the initial price move, reinforcing its technical significance. #### Technical Indicators Several technical indicators support the bullish outlook for GME: .**Relative Strength Index (RSI)**: The RSI is currently trending upwards, suggesting increasing buying pressure. **Moving Averages (MA)**: The 50-day MA is poised to cross above the 200-day MA, forming a 'Golden Cross', typically a bullish signal. **Volume**: Trading volume has been increasing, confirming the bullish momentum as more traders participate in the rally. #### Conclusion GameStop ( NYSE:GME ) is currently in a technically significant phase, with multiple bullish indicators aligning to suggest further upward potential. The formation of a harmonic bat pattern, coupled with the recent falling wedge breakout and subsequent price movements, sets the stage for a bullish continuation. Traders should watch the key resistance level at $31.69 closely, as breaking this would open the path towards the first target at $37.78 and potentially the second target at $53.44. As always, while the technical indicators provide a strong case for a bullish outlook, traders should remain vigilant of market conditions and news that could impact the stock's performance. Happy trading! --- *Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always conduct your own research and consult with a professional financial advisor before making any investment decisions.*
NYSE:GMELong
by wikitrades
3
GBPUSD - Sell trade July 24 2024I'm Back! - busy with some learning materials as I level up on analysis and data. attached here is the GBPUSD july 24 2024 trade. I noticed supply introduced in daily TF up to 4H TF ( markets are fractal) . It makes me conclude that it will be a bearish momentum (correction) because of wyckoff accumulation last week. As I continue to monitor the charts during London session, I noticed liquidity sweep in highs of the structure, so I create an alert in my algorithm to alarm when it noticed a tiny supply introduced in 15 min TF. Setting a pending order aiming to have 5:1 RR. During N.Y session, it moves according to plan, coming to fruition this morning (PH time) . (check charts for a detailed analysis) # wyckoffdistribution #algorithm #supplyanddemand
Short
by glyrad
JPM JPMorgan Chase & Co Options Ahead of EarningsIf you haven`t bought the dip on JPM: Now analyzing the options chain and the chart patterns of JPM JPMorgan Chase & Co prior to the earnings report this week, I would consider purchasing the 200usd strike price in the money in the money Calls with an expiration date of 2025-1-17, for a premium of approximately $17.25. If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
NYSE:JPMLong
by TopgOptions
Gold decreased slightly before today's PPI news💵GOLD PRICE AND ECONOMIC INFORMATION Gold fell below $2,410 per ounce on Friday after rising nearly 2% in the previous session, but is set to notch a third straight weekly gain, supported by softer-than-expected inflation figures for the US. Headline inflation slowed more than anticipated to a one-year low of 3% in June, while the annual core measure dropped to a three-year low of 3.3%. The deceleration has heightened expectations for a Federal Reserve rate cut, with traders now pricing in a 93% chance of a rate cut in September, up from 73% on Wednesday. Meanwhile, San Francisco Fed President Mary Daly expects further easing in price pressures and the labor market to justify rate cuts, while Chicago Fed President Austan Goolsbee believes the US economy is on track to achieve 2% inflation. 🔴SELL GOLD: 2438 - 2440, SL: 24046 🟢BUY GOLD: 2395 - 2393, SL: 2389 🟢BUY GOLD: 2382 - 2380, SL: 2376 ⛔️Breakout: top border 2414 - 2425 - below 2403 - 2396 - 2390 🔼Support: 2403 - 2397 - 2392 - 2387 - 2378 - 2370 🔽Resistance: 2414 - 2425 - 2437 - 2449 - 2460 GOOD LUCK EVERYONE👍
OANDA:XAUUSD
by Scalper_Ananda
Understanding Technical Indicators - Avoid FaultsI received a question from a member today related to Divergence on RSI or Stochastics. I've been lucky to actually sit down with the creator of Stochastics, George C. Lane, to discuss his indicator and how he used it to trade. I've also been luck to be able to attend multiple industry conferences over the past 20+ years where I've been able to watch and listen to dozens of the best technicians and analysts explain their techniques. Boy, those were the days - right? This video is going to help you understand most technical indicators are designed based on a RANGE of bars (usually 14 or so). This means they are measuring price trend/direction/strength/other over the past 14 bars - not longer. And because of that you need to understand any trend lasting more than 14+ bars could result in FAILURE of the technical indicator. Watch this video. I hope it helps. Get some.
AMEX:IWMEducation
by BradMatheny
75: Decline in Oil Tankers to China Signals Weaker DemandThe number of oil tankers heading to China has dropped to its lowest in nearly two years, indicating weaker demand in the world's second-largest economy. Bloomberg reports only 86 supertankers en route over the next three months, the lowest since August 2022. Current Scenario: After holding $70 on the weekly chart, oil prices are attempting to reach new highs around $90. This movement suggests bullish momentum as the market reacts to shifting demand dynamics. Bearish Scenario: If oil prices fail to maintain momentum and drop below the recent low, we could see a trend reversal. Key support to watch is around $60, where buyers might step in again. Bullish Scenario: If oil prices break above $90, we could target $100 as the next major resistance level. Sustained bullish momentum would be necessary for this upward move, potentially driven by improving economic indicators or geopolitical factors.
NYMEX:CL1!Short
by SeventyFive-Invest
Planning for Next Earnings Season: DFSNYSE:DFS has a platform trend since the highs and lows are very consistent, suggesting controlled buying over time. It had a compression pattern before the pop out of the box white candle and a small gap up candle as the first attempt to break out to the upside. The stock may drop back into the platform range but if it holds, it's a good indication that earnings have improved. This is an example of a good pattern to watch for a pre-earnings run setup with potential to swing trade to earnings. Discover reports July 17th.
NYSE:DFSLong
by MarthaStokesCMT-TechniTrader