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#202439 - priceactiontds - weekly updateGood Day and I hope you are well. bitcoin Quote from last week: comment: Doing the weekly chart this week. Clear contraction visible and there is no magic to see here. I won’t make up stuff where there is none. Market is clearly confused where it wants to go and no side has an advantage. The triangle will break out soon again and I can only see btc falling below 49000 if the broader markets weaken considerably. comment : Bulls still not managed to get above 65000 and unless that changes, we are in an ascending triangle now. Trading range, ascending triangle, it does not matter, you trade them the same. Clear support and resistance, buy low and sell high until it stops working. I favor the bears to touch the lower trend line around the daily ema but as of now they are not doing enough and market has formed 4 consecutive doji’s. You don’t have to trade this. Wait for a better pattern. current market cycle: trading range / ascending triangle key levels: 49000 - 65000 bull case: Bulls need prices above 64500. That has not changed since last week. If they fail again, market will likely test down below 55000 again. If they could get it, market is free to trade above 68000 to test the bear trend line from the ath. Invalidation is below 62400. bear case: Bears want a pullback to test the lower bull channel trend line and daily ema around 61000 where I expect more buyers than sellers to appear. Market then probably has to move more sideways before we can get a breakout below the bull channel. This is a clear trading range for 2 months and odds favor the bears to stay below 65000 and get a pullback. Don’t over analyze 4 consecutive doji’s. Look at a higher time frame and get a sense of what the market is trying to do. Right now it’s trying higher again but failing. It can only go on for so long until one side give’s up. Invalidation is above 64500. outlook last week: short term: Neutral. Under 60000 I slightly favor the bears to trade down to 55000 but need to see better selling than on Saturday/Sunday. → Last Sunday we traded around 59800 and now we are at 63400. Meh outlook. I changed it on Monday since bulls printed a strong bull bar above the pullback. short term: Neutral. I become a bear once bears print below 62400. Max bullish above 65000 with follow through. medium-long term - Update from 2024-09-08: If bears can close the bull gap for good, we could see 40000 this year. If not, more likely we will see 65000+ again. Right now we are in a 2 month trading range. current swing trade: None chart update: Added the bull channel, wave count and possible two legged correction.
CRYPTO:BTCUSD
by priceactiontds
EURUSD Analysis after the FED, BOE and BOJ!The analysis of EUR/USD suggests a relatively strong position for the pair, currently stable around 1.1160, with a bullish outlook supported by both technical and fundamental factors. Technical Factors: Relative Strength Index (RSI): The RSI indicator on the 4-hour chart is near 70, indicating the pair is in overbought territory, suggesting that a technical pullback or correction could be imminent in the short term. However, the overall bullish trend remains intact for now. Support and Resistance Levels: Resistance: The first resistance level is at 1.1200, followed by 1.1275, which represents the July 18, 2023 high. Support: The first support level is at 1.1135, followed by 1.1100. Fundamental Factors: US Dollar: The potential weakness of the US Dollar is a key factor. The likelihood of the Federal Reserve reducing interest rates in 2024 could contribute to a decline in the Dollar, increasing bullish pressure on the EUR/USD pair. Although the data on initial jobless claims (219,000 vs. 231,000) temporarily supported the Dollar, the prevailing risk sentiment in the markets reintroduced bearish pressure on the Dollar later in the week. European Central Bank (ECB): Comments from ECB members indicate that no significant monetary policy changes are expected until December. However, ECB President Christine Lagarde's speech could have market impacts. If she opens the door to a rate cut as early as October, it could weaken the Euro. However, at this time, such a possibility seems unlikely.
Long
by Forex48_TradingAcademy
1
TRENDLINE MODULEIn this analysis we are focus on 15M time frame for GOLD. I'm looking for a potential buy today. We know that overall market trend was Bullish. If price break 2595 toward upside than after confirmation we will execute our buy trade. So let's delve deeper into these levels and potential outcomes. Always use stoploss for your trade. Always use proper money management and risk to reward ratio. This is just my prediction or analysis. # XAUUSD 15M Technical Analyze Expected Move.
OANDA:XAUUSDLong
by TradeTacticsreal
#202439 - priceactiontds - weekly update - wti crude oil futuresGood Evening and I hope you are well. tl;dr wti crude oil: Daily bars looking weak but it does not matter, it’s a small pullback bull trend and it’s going higher. Not a single bar went below the previous so we are max bullish. 72 is very likely get hit on Monday and the first bigger target is 73. There market decides if this bigger bear trend is still alive or we have found a credible bottom at 64. Quote from last week: comment: Selling the 4h ema on Tuesday was as perfect as it gets. Bulls bought the lows again and 65 held. Neutral around 68 because both sides have reasonable arguments. But also this: Given the max bearish sentiment that everyone and their dog is writing about on x, I favor the bulls to trap late bears much more than I expect continued selling but as long as bears are below the daily ema, they are in control of the market. comment: Low effort comment last week. Deal with it. Bulls have formed a small pullback bull trend from the 64 low and bears selling below 67 are still trapped. Bears have not gotten one daily bar below the prior bar during the past 8 days. No reason to expect this to change all of a sudden. current market cycle: bear trend key levels: 64-74 bull case: 4h tf. Look at it. Every touch is bought. Until that stops, only look for longs. Bulls are only making higher lows and higher highs. Their next target is the obvious bear trend line around 73.5/73.7. Even if bears come around and print something below 70, bulls would most likely buy it for a retest of 71.5 or 72. Invalidation is below 68.5. bear case: Bears who sold below 67 were trapped and market just keeps going higher. Bears gave up completely on Thursday and Friday was most likely bulls taking profits and opex things why we stalled. Until bears print something below 69, they have no arguments as of now. Sure we are still inside the bear channel but the upper trend line is still almost 400 ticks away. Best they can probably get is sideways movement 70-72. Invalidation is above 72. outlook last week: short term: Neutral around 68. I have alerts and wait for one side to clearly take control again. Slightly favoring the bulls if they stay above 68 and get momentum going again. → Last Sunday we traded 68.65 and now we are at 71. Bad outlook. Bulls took over completely. I still think it was a surprise since market did not even retest anything below 67. Would give the outlook again. short term: Bullish near the 4h 20ema until it stops working. Take profits at new highs unless bulls show even bigger strength. medium-long term - Update from 2024-09-22: Bears channel is the main pattern right now but bulls are trying to test the upper trend line. There we will see if the bear trend is has another leg down or we move sideways. There is an argument that the spike below 69 was a trap and we continue inside a range 69 - 75/77. current swing trade: None chart update: Added bull trend lines from the 4h tf.
NYMEX:MCL1!Long
by priceactiontds
#202439 - priceactiontds - weekly update - goldGood Evening and I hope you are well. tl;dr gold: Bulls got a clean breakout but they need follow through on Monday/Tuesday. The current channel fit’s nicely but we only know market is respecting it when we see a pullback. If this breakout is strong, bulls would not let the market fall below 2600 again. A weaker trend would pull back to the daily ema around 2600 before continuing. As long as we hold above the daily ema there is a very good chance we will see 2700 next. Small chance this trend is accelerating and breaking above the drawn channel and we would see 3 strong legs up which could lead to 2800. Quote from last week: comment: Finally the breakout above and the 2600 print. All bullish targets are now met for me so no interest in buying this high. I think the odds that bulls break above the wedge and start a new bull rally are very low and much more likely is a trap over the next 1-5 days and then a reversal down to at least 2540. That’s all I have to write about this right now. comment: I always think about wrong outlooks much more than about right ones. In this case, was the “no interest in buying this high“ the right call here and I would come to a yes in every scenario. Of course it was wrong and market made another 50 points but risk reward was so off, not taking it was the right move for me. Anyhow. Bulls confirmed another bullish structure and we have a bull wedge inside a very bullish channel upwards. current market cycle: Bull trend key levels: 2570 - 2700 bull case : Bulls had the fastest and most shallow two legged pullback there is on Tuesday/Wednesday and continued with max bullishness for 2650. By now every bear has given up and we will truly find out how high this can go over the next months. As of now my preferred pattern is the bull channel and since we are at the highs, bulls would need another strong bar like Friday to break above it. Can they get it? Absolutely. Am I betting on it? No. Invalidation is below 2570. bear case: No idea where and how strong they come around. Will most likely be more bulls taking profits rather than strong selling. Lower bull trend line is 50 points lower and I doubt we hit it on Monday. Buying 2640 is a bad trade and bears know it but I rather wait and see where we go. On the 1h tf we have not traded below it since Thursday’s Globex session. Currently very hard for bears to make money so make your life easier and look for longs. Invalidation is above 2660. outlook last week: short term: Neutral. I need to see bear strength before selling this. No interest in longs above 2600. → Last Sunday we traded 2610 and now we are at 2646. Meh outlook because bulls were much stronger and broke above again but I also advised against shorts until bears come around. They did not. short term: Neutral. I won’t be buying 2646. Need a pullback. medium-long term: Very strong breakout above, again. Market currently has no ceiling. Most likely 2700 next and I do think 3000 could be a potential target if we continue. There is certainly an argument for a measured move based on the bull rally from 2018-08 to 2020-08. current swing trade: None. chart update: Added bull wedge.
COMEX_MINI:MGC1!Long
by priceactiontds
#202439 - priceactiontds - weekly update - sp500 e-mini futuresGood Evening and I hope you are well. tl;dr sp500: Similar structure to dax. Nested bull wedges inside a big broad bull channel. The current bullish structure has a potential to lead to much much higher prices but I favor the trading range continuation more. The bull wedge will break over the next 2-3 days and we will likely have an answer on the next direction. Bulls need a strong break above 5800 and bears below 5670. Quote from last week: comment: Favored the bears last week and wanted to load on shorts on this pullback but bears were practically gone, so no shorts for me. Lower highs and higher lows. Triangle on the daily chart until broken. Not much difference to the other indexes. Above 5670 bulls are favored for 5700+ and maybe a new ath and bears would need a strong reversal below 5650 for bulls to cover their longs again. Similar to 2024-09-03 where bears printed a huge bearish engulfing bar, that is that they would need here as well. comment: Bears did absolutely nothing last week except selling highs. Not a single daily bar below the previous one. Very strong buying with resulted in an obvious new ath on Thursday. Are bulls done or will we get hit 5800? Most likely we will hit it because of the obvious liquidity grab (stop running) above it. current market cycle: nested bull wedges key levels: 5670 - 5850 bull case: We are trading around the ath. Will the market find more buyers to push this even higher? We are inside nested bullish patterns and bulls are favored but buying near the ath without a better pullback is not the best trade you can do right now. On lower tf you can find reasonable longs but not on the daily. I’d rather wait for a breakout of the smaller wedge and see where the market wants to go. I do think bulls can print 5800 and some next week. Most outrages target I have on sp500 is 6144 but I will only address this once bulls close a weekly bar above 5800. Invalidation is below 5670. bear case: Bears want the breakout below the wedge and test the daily ema around previous support 5670. If they are strong, they could hit 5600 next week but as of now the bears have nothing to support this but hope. Best they can probably get is some sideways around 5760. Invalidation is above 5810. outlook last week: short term: Neutral between 5400 - 5670. I slightly favor the bears when they print a good bear bar on Monday because of the triangle. Above 5670 I scalp long and see how high we can get. → Last Sunday we traded 5629 and now we are at 5762. I leaned bearish but only if… If never came true since bears could not get a lower low all week. My read that above 5670 it’s a long, was good for 110. short term: Neutral around 5760. No interest in buying besides small long scalps on the 5m or lower tf for 5800. Market is contracting in a tight range, best not to do anything and wait for a clear breakout. medium-long term - Update from 2024-09-22: Very much like my outlook in dax. Trading range on the daily chart and we are at the highs. We could make higher ones or not. Does not matter much. I expect at least 5300 to be hit again in 2024. current swing trade: None chart update: Only bullish pattern left and added an outrages measured move target.
CME_MINI:MES1!
by priceactiontds
#202439 - priceactiontds - weekly updateGood Evening and I hope you are well. tl;dr dax: New ath but market rejected it with -300+ points. Bulls are still inside nested bull wedges and a big bull channel on the weekly/monthly chart. I favor bulls as long as the current bull wedge is alive but we could test down to 18500 on Monday. Bulls should not let it get below 18400. Above 19000 I expect another ath and targets above are 19100/19200. Quote from last week: comment: Disappointment bar on Monday, bears tried again on Tuesday and Wednesday but market held above 18200 and bears then quickly gave up. My bearishness last week was a bit too strong but slightly profitable until the reversal on Wednesday. So, not much harm done. Market formed a bull wedge and if bulls can close the bear gap to 18750 on Monday, we will very likely see 18990 or 19000 over the next days. Bears have nothing until they can get below 18200 or we reach 19000. I don’t think that many traders will be interested in buying above 19000 but let’s see next week. comment : Monday left no doubt where we were heading and my outlook was perfect. No one wanted to buy above 19000 and we traded 300 points down again. We are contracting inside the bull wedge and will see a breakout over the next 3 days. That can go either way so I will go neutral into next week. Both sides have reasonable arguments. I do favor the bulls slightly but need confirmation for that and this would only be above 19300/19400 and that is 600 points away. We are inside a trading range 17700 - 19000 for over 6 months now. That is as neutral as it gets. We are making higher highs but by how much? Couple of points and that’s absolutely normal inside trading ranges. And if you think “bUt YoU sAiD wE aRe iN a BuLl wEdGe”, yes. Might blow your brain out but markets can trade inside a multiple of patterns on different time frames and you have to prioritize them by the one starting on the highest tf and working yourself to the lowest tf you want to trade. current market cycle: big trading range key levels: 17000 - 19000 bull case: Bulls are slightly favored since we are inside nested bull wedges or a bigger broad bull channel, depending on how you want to draw it. Does it matter? No. We are also in a trading range inside the given key levels and that does not change how you trade the current patterns either. Bulls made a lower high last week and a higher high. As long as the lower high holds, bulls are favored for more upside. Should you buy 18720? It’s not unreasonable but Friday was quad witching and we closed at the low. I’d rather wait for bulls to come around on Monday before buying. We could touch the bull trend line around 18500/18600 before reversing but I do think we will retest at least 18900. My most insane upside target currently is 20900 but until we have a weekly close above 19400, it’s a waste of time thinking more than 2 minutes about it. Trade patterns that are valid and until they are clearly broken. Invalidation is below 18500. bear case: Bears rejected 19000 by 300 points again and the big questions is, will they get follow through selling on Monday and can they push below the bull trend line out of the bull wedge? I highly doubt that. It’s possible but unlikely. Market will probably spent more time inside the wedge before we break out by going sideways or below, once it’s contracted enough. Anything above 19100 would show great weakness by the bears and a possible giving up for 19300 or higher. On the weekly chart the highest weekly close was 18906 and bears need to keep it that way. Any weekly close above 19000 opens the door for higher prices. Invalidation is above 19100. outlook last week: short term: Neutral. Bullish above 18750 for 18900+, bearish below 18200 and neutral in between. → Last Sunday we traded 18699 and now we are at 18720. High was 19044 and that outlook could not have been more perfect. Nailed the long above 18750 and the rejection above 19000. Hope you made some. short term: Neutral around 18720 but expecting bulls to come around and retest 19000. Could drop to 18500/18600 first though. Anything below 18500 would surprise me big time. medium-long term - Update from 2024-09-22: 3 Months left in 2024 and I do think the market is in a trading range where the upper area is around 19000 and the lower area is probably 17000 or 16000 if something bigger comes up. Since we are at the very top, I expect the market to go some sideways before trying to go down again. Not so sure about 19000 being the high, since liquidity could see a bigger increase and upside could be higher. We will likely have another 10%+ correction this year and a possible year end rally. current swing trade : None chart update: Removed the bear gap and added the insane potential measured move to 20900. Don’t bet on that.
XETR:DAX
by priceactiontds
XRP: buy📊 Analysis by AhmadArz: 🔍 Entry: 1️⃣ 0.5676 (Main Entry) 2️⃣ 0.5455 (Support) 3️⃣ 0.5232 (Support) 🛑 Stop Loss: 🔴 0.5545 🎯 Take Profit: 1️⃣ 0.5797 2️⃣ 0.5919 3️⃣ 0.6076 🔗 "Uncover new opportunities in the world of cryptocurrencies with AhmadArz. 💡 Join us on TradingView and expand your investment knowledge with our five years of experience in financial markets." 🚀 Please boost and 💬 comment to share your thoughts with us! --- This chart represents the XRP/USDT (Ripple to Tether) pair and highlights two "Good Entry" points 📉 within support zones 🟥 and 🟦. Additionally, the main entry point is noted at 0.5676 📊. Here’s a general analysis with emoji annotations: 1. Entry Points: The main entry is 0.5676 🟢. The first support entry is at 0.5455 📉, within the blue zone 🟦. The second support entry is at 0.5232 📉, within the red zone 🟥. 2. Price Targets: TP1: The first target price is 0.5797 🎯. TP2: The second target price is 0.5919 🎯. TP3: The third target price is 0.6076 🚀. 3. Support and Resistance Zones: 0.5676 is the main entry point 🟢. The blue support zone is between 0.5455 and 0.5260 🟦. The red support zone is between 0.5210 and 0.5232 🛑. 4. Analysis: If the price holds above 0.5676 🟢 and breaks through resistance 🟠, it could move towards the targets at 0.5797 and 0.6076 🚀. Stop Loss: The stop loss is set at 0.5545 🔴 to protect against downside risks. In case of a fallback, the price may drop back to the first support entry at 0.5455 or lower, around 0.5232 🔄. This analysis suggests a potential upward movement 📈, with the main entry point at 0.5676 and clear stop-loss protection at 0.5545.
Long
by ahmadarz
GBP/CHF - Bullish Flag Breakout & Strong UptrendOverview: The GBP/CHF pair has not only been in a strong uptrend but has also formed and broken out of a bullish flag pattern, further signaling the continuation of upward momentum. The breakout above the 1.2300 resistance level suggests a potential for further gains. Technical Analysis: Bullish Flag: A clear bullish flag pattern has formed, with a breakout confirming further upward movement. Next Resistance Levels: 1.2550 and 1.2600 RSI: Currently at 65, indicating there’s still room for more upside. Fundamental Analysis: GBP Strength: Strong economic data from the UK, including better-than-expected GDP growth and improved employment figures, support the pound’s rise. CHF Weakness: The Swiss National Bank’s (SNB) dovish stance continues to weaken the franc, providing a favorable environment for the pound’s strength. Trading Strategy: Targeting 1.14036 ,1.15070 , 1.16159 Stop Loss: Place a stop below 1.1120 to protect against downside risk.
Long
by mohammad_alavi
Bitcoin Bullish count up.If you find this information inspiring/helpful, please consider a boost and follow! Any questions or comments, please leave a comment! Reacting and testing level identified. Bulls need to break this level (63380) and the pivot (65k) as a show of force. Here is my conservative take if an impulse completes. All hinges on 61779 and (1) pivot holding. Possible ZZ completing so looking for a reaction off most likely targets. One reaction is given. Looking for an impulse down. Trade Safe, Trade Clarity.
COINBASE:BTCUSDLong
by CryptoKnee
SasanSeifi|Metis Analysis: Potential Breakout Ahead? In the 10-hour timeframe, as you can see, The price has touched the downward trend line four times and is now trading around the critical $32 level. Given the previous interactions with the trend line, a breakout seems possible. If the trend line is broken, we can expect the price to rise towards targets around $35, followed by a potential further increase to the $37-$38 range after a minor correction. To understand the ongoing trend better, observe how the price reacts to the $35 level. Key support is at $29-$28. This analysis is my personal viewpoint and not financial advice. If you found this helpful, please like and comment – I’d love to hear your thoughts! Happy trading! ✌😊
Long
by SasanSeifi
LINK - Bullish Control Soon...Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈After rejecting the $20 round number, LINK has been in a correction phase in the shape of a falling channel marked in orange. Currently, LINK is hovering around a strong structure, support and round number $10. 🏹 Once the orange channel is broken to the upside, we will expect the next bullish phase to start leading to a movement towards the $20 mark again. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
4
2024-09-19 - priceactiontds - daily update - bitcoinGood Evening and I hope you are well. tl;dr Bitcoin - I said if bulls get above 61500, they are favored for 64000+. High of the day was 63848. Next target for them is 65000 and if bears fail there, we will see 67000/68000 again. Right now it’s still a triangle on the daily chart and bulls had 3 pushes up. Slightly favoring the bears if they come around tomorrow and if it stays below 65000. comment: 3 pushes up on the daily chart and near previous resistance between 64000 and 65000. For weeks now, every strong daily bar is followed by disappointment. If the market has done this so many times, I do not expect this to change and rather see bears coming around over the next 2-4 days again. current market cycle: trading range (again a triangle on the daily chart) key levels: 57000 - 65000 bull case: Bulls want the breakout above 65000 and trade back to 68000 and touch the bear trend line from the ath. Can they get it? I doubt it. We made 21% over the past 2 weeks but given that we made -30% in 7 days in July, this rally was weak. You can also draw the bull channel for the current rally but the arguments would be the same. We are at the top of the channel and prior resistance. I don’t expect market to find many buyers above 64000. Invalidation is below 61500. bear case: Until bulls can print 65000, odds favor the bears for a reversal. We are at prior resistance, the top of the bull channel, bulls had 3 legs up and the daily and weekly 20ema are as flat as can be. What are the odds of a big bullish breakout? Very low. Can happen but betting on it is a losing strategy. Best here is to wait. If bulls get it, join em. If bears come around, don’t sell the first pullback. Wait for a retest (probably on the 1h tf) Invalidation is above 65000. short term: Neutral. Bullish above 65000 and bearish below 61500 or on good momentum after a second signal. medium-long term: Down to 40000 (could take 1-3 months). Could also drop to 20000 again but let’s make 40000 first and see how many want to buy there. —unchanged since March, obviously updated the time range which was 6-9 months before. — current swing trade: Swing shorts got burned bad. None currently but looking for shorts again. trade of the day: Very bullish day. Buying the 15m 20ema was profitable many times.
CRYPTO:BTCUSD
by priceactiontds