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How far ETH will pull back? Potential Future PathIn this chart, all bull trends are in green and bear trends in red, the the longer/ more tested, the stronger the line. -The dark red line in the bottom corner was a descending trend we had since over a year ago -We broke out and established a strong ascending trendline and an ascending channel that was about 15 degrees lower slope. And actually at the same time it confirmed the upward channel, it started the downward channel, recently confirmed. -The other battle here is we lost that strong dark dark green ascending support line and then we came back up and took it back, got rejected and then tried numerous more times to break it before giving up and losing ground. * Once again we will need to decide which channel we want to maintain, the ascending green channel or the newly formed descending red channel * I drew some lines of what seems Potential Future Paths, based on my interpretation of the current chart *Each set of eyes are where you want to be paying attention should we make it to this area. Roughly this chart infers. Possible downside ETH: $3650-$3550 | bullish | If we maintain this green Ascending channel ETH: ~$3450 | Possible short term bear Possible Upside: Look for resistance around $3950 after testing channel bottom. ------------------------------------- Orderbooks: Currently orderbooks are strong but we did have the first significant dip in trader confidence we have had in a long minute with the recent sharp pullback but asks are back up to a very stable level. A recent uptick in in bids at 100% DOM, infers traders think there is some more pullback possible though this could be short lived. This is per coinmarketflow, using the new TV charts on ETH. ------------------------------------- Longer Term: Note, that is 1 hour candles, here is the same chart with 1d candles: * Notice we are in a looong term ascending trend and we still have a ways before we test our theoretical top of channel but also there is a lot of room for this to fall, ETH could fall to $2500 in the next days to months and it would still be in an overall longterm ascending pattern with numerous proofs of support over the years. This is my research based on trend analysis and orderbooks. You should always do your own research, maybe my research will help add to your own and work out as a win.
COINBASE:ETHUSD
by EncryptShawn
NQ Futures Update: Warning Signs Flashinghe Nasdaq 100 futures (NQ) is exhibiting several concerning signs that suggest a potential downturn could be on the horizon. Traders should exercise caution and be prepared for a possible wave of selling pressure. Resistance Rejection: The NQ has recently encountered strong resistance. Multiple failed attempts to break above this key level could signal that sellers are gaining control. Breakdown Below Support: A break below the red box support level could trigger a further decline. This would likely be accompanied by an increase in selling volume and negative sentiment. Rising Volatility: An increase in implied volatility, as reflected in the VIX index, suggests growing uncertainty and fear in the market, which could precede a broader market sell-off. Potential Downside Targets If the bearish scenario unfolds, the NQ could potentially drop to the displayed support levels While the NQ is showing signs of weakness, it's important to remember that markets can be unpredictable. A sudden shift in sentiment or unexpected news could quickly change the outlook. Traders should closely monitor price action, manage risk effectively, and be prepared for volatility in the near term. Disclaimer: This is not financial advice. Please conduct your own research and consult with a financial professional before making any investment decisions.
CAPITALCOM:US100Short
by SwingSamurai_QMA
NQ Power Range Report with FIB Ext - 12/6/2024 SessionCME_MINI:NQZ2024 - PR High: 21458.50 - PR Low: 21424.75 - NZ Spread: 75.25 Key scheduled economic events 08:30 | Average Hourly Earnings - Nonfarm Payrolls - Unemployment Rate AMP raised margin requirements overnight for pre-RTH jobs numbers - ATH continue to march higher - Retraced nearly 50% of Wednesday range Session Open Stats (As of 1:45 AM 12/6) - Weekend Gap: N/A - Gap 10/30/23 +0.47% (open < 14272) - Session Open ATR: 267.49 - Volume: 21K - Open Int: 291K - Trend Grade: Bull - From BA ATH: -0.4% (Rounded) Key Levels (Rounded - Think of these as ranges) - Long: 22096 (updated) - Mid: 20954 - Short: 19814 Keep in mind this is not speculation or a prediction. Only a report of the Power Range with Fib extensions for target hunting. Do your DD! You determine your risk tolerance. You are fully capable of making your own decisions. BA: Back Adjusted BuZ/BeZ: Bull Zone / Bear Zone NZ: Neutral Zone
CME_MINI:NQZ2024
by mv3trader5
BTC December Monthly Open For the last 6 months straight, BTC has pulled back on the monthly open and each time price has recovered and pushed higher. We are currently seeing the first half of that with a rejection off $98,000 so the question is, where does it stop? The first place of interest is ~$93,500, a bullish orderblock with a strong candle following it. In a Bullrun these areas are expected to give a reaction and so that's my first place of interest. A deeper pullback would take us the the 4H local low, a bounce here would establish a mini-range/ accumulation zone. Now that would make sense as a base is built to target the big even $100K, after such a strong rally a cool-off and reset of indicators would be beneficial, liquidating late longs would be a bonus (if you're not on the wrong side). This level also co-insides with the 4H 200 EMA, typically in a bullmarket this level holds well and caps off correctional phases. The RSI will then also be near/in the oversold zone as further confluence. The HTF level that most are interested in is ~$84,000, A clear FVG level. This would be a loss of the 4H 200 EMA and definitely in the RSI oversold zone. We know that there is still a massive demand for BTC on an institutional level, ETFs and retail so pullbacks should be bought up in time, the question is when and where. A fill of this area would be more bullish in the long run as the FVG won't need to be filled later, meaning the potential severity of a crash or pullback in the future won't be as much.
by ProR35
Real Success Rates of the "Rising Wedge" in TradingReal Success Rates of the "Rising Wedge" in Trading Introduction The rising wedge, also known as the "rising wedge" in English, is a chart pattern that has a remarkable success rate in trading. This analysis details its performance, reliability and complementary indicators to optimize its use. Success Rate and Performance -Key Statistics Overall success rate: 81% in bull markets Average potential profit: 38% in an existing uptrend -Breakout Direction Bearish: 60% of cases Bullish: 40% of cases Contextual Reliability Bull market: 81% success, average gain of 38% After a downtrend: 51% success, average decline of 9% Important Considerations The rising wedge is generally a bearish pattern, indicating a potential reversal. Reliability increases with the duration of the pattern formation. Confirmation of the breakout by other indicators, especially volume, is crucial. Complementary Indicators -Volume Gradual decrease during formation Significant increase during breakout -Oscillators RSI (Relative Strength Index): Identifies overbought/oversold conditions Stochastics: Detects price/indicator divergences -Moving Averages Crossovers: Signal trend changes -Dynamic Support/Resistance: Confirm the validity of the wedge -Momentum Indicators MACD: Identifies price/indicator divergences Momentum: Assesses the exhaustion of the trend -Other Elements Fibonacci Levels: Identify potential support/resistance Japanese Candlestick Analysis: Provides indications of reversals Conclusion The rising wedge is a powerful tool for traders, offering a high success rate and significant profit potential. The combined use of complementary indicators increases the reliability of the signal and improves the accuracy of trading decisions. It is essential to look for a convergence of signals from multiple sources to minimize false signals and optimize trading performance. _______________________________________________ Here are the best times to enter a trade after a rising wedge, in a professional manner: -The confirmed breakout Wait for the candle to close below the support line of the wedge. Look for a significant increase in volume during the breakout to confirm its validity. -The retest Look for a pullback on the broken support line, which has become resistance. Enter when the price rebounds downward on this new resistance, confirming the downtrend. -The post-breakout consolidation Identify the formation of a flag or pennant after the initial breakout. Enter when this mini-formation breaks in the direction of the main downtrend. -The confirmed divergences Spot bearish divergences on oscillators such as the RSI or the MACD. Enter when price confirms divergence by breaking a nearby support. -Timing with Japanese Candlesticks Identify bearish formations such as the Evening Star, Bearish Harami, or Dark Cloud. Enter as soon as the next candle confirms the bearish pattern. -Important Considerations Always place a stop-loss to manage risk effectively. Be patient and wait for the setup to be confirmed before entering the trade Check the trend on higher timeframes to ensure the consistency of the trade. Integrate the analysis of the rising wedge with other technical indicators to improve the quality of decisions. By following these recommendations, traders can optimize their entries on rising wedges while minimizing the risk of false signals.
BINANCE:BTCUSDEducation
by Le-Loup-de-Zurich
BTC CME Chart - Mind the Gap!Currently there exists a gap of around 3000 USD between roughly 80.000 USD and 77.000 USD. This gap is around 20-22 % from the last top and also marks a zone between two fibonacci lines (0.283 from the last lowest low and the 0.382 line from the low before that). My educated guess is that we get a relatively 'normal' traceback to that zone. To fill the gap and to build up momentum for another rise in the bitcoin price. Note that pullbacks of 20 percent are quite normal, although the range in Dollars can get larger and larger as we go higher and higher. Please like if you share my opinion.
CME:BTC1!Long
by DutchCryptoDad
S&P500 (SPY) Hits Target #2 Today!Traders, though we've still got a ways to go to our final target of 670-700 on the SPY, it is worth celebrating our direct hit of 600 today. I remember a year ago drawing out 563 as a first target for our blow-off top and I was laughed at. Bears were in their mood and hungry. They wanted more blood. But a combo of our Elliot Wave and a daily inverse head and shoulders showed us exactly where we would hit. Then I spotted this nice cup and handle on the weekly. If you remember, it was almost invalidated with that China carry trade flash crash. But I stood my ground and stated that we would need to see another weekly open and close below our neckline before the bet was off. That did not happen and we are well on our way to that 670-700 final target. However, before we get there, I do believe our 600 level on the charts will provide some psychological resistance. Admittedly, this was more of a guess than anything when I had drawn it up and placed it on my chart several weeks ago. But now, we are seeing overbought conditions on both the daily and weekly charts. Are we a bit over-heated? I think we may be and should be prepared to see a bit of a drop, or at least a week or so of sideways price action, before we break 600. Unlike my first target at which I sold and buy the carry trade dip for massive profit, I don't know that I will be selling here. 600, as I stated already, was more of a guess than anything. But I am pretty decent at making these guesses. Experience and lots of psychology and chart study has taught me. Before I get ahead of myself though, let's watch and see what the market decides to do next week. ✌️ Stew
AMEX:SPY
by stewdamus
1
Trade Review - WEST When the stock showed up on the screener there was a bullish continuation setup on the daily chart and a potential overextension on the higher timeframe downtrend. Thus added to the watchlist to monitor for a move. Execution – Entered late on a debatable Failure Test. Trade Overview • Structure: Bullish Continuation (D) / Downtrend Pullback (W) • Position: Near Mean (D) / Far from Mean (W) • Entry Trigger: Failed Breakdown (Late) Entry Details • Entry Price: 6.90 • Stop Price: 6.40 • Target Price: 8.46 • Expected Risk/Reward: 3.12 R Exit Strategy • Exit Price: Closed 75% of position into 1R and rest hit stop at breakeven.
NASDAQ:WESTLong
by Trader-Shah
EMA, The correct way of usage - Part Two - PullbackOur core belief in ARZ Trading System: Trading, is to have an "expectation" from the market. If not, at any movement, the trader will be confused! If you look at the market and don't have any expectations, don't trade! In a future article, we will discuss what to do if an expectation is not met. In the case of Pullback, Price is not a ball, and EMA (or any other kind of S&R) is not a brick wall, especially in this case. If you put an EMA with any period, you'll see that the price crosses it easily most of the time! Then, it might come back as a shadow or a Fake Breakout. This means we should have a confirmation system for accepting or rejecting a Pullback. Otherwise, we'll always see a pullback shaping! Key Note 1: the higher the EMA period is, the longer will take for a pullback to shape! Key Note 2: Never trust and trade based on just one S&R level! Always have at least 2 or 3 levels to confirm your pullback. Either in a classical way by drawing trendlines and channels, or using any kind of Indicator as a means of dynamic S&R level. Key Note 3: a flat EMA is supposed to break easily! If not, it'll reject the price strongly. It means we have to wait for what will happen at a flat EMA to decide what to do next or expect the price will breach it (Please refer to article part one). Key Note 4: An ascending EMA can only act as a support, and a descending one acts as a resistance, not the other way! This is critical, believe me! Accepted ways of confirming a pullback in the ARZ System are: 1. Wait for a strong reversal pattern to shape at S&R. Never jump the gun! 2. Use a Volume Indicator like WAE (Waddah Attar Explosion) to confirm your entry at the S&R level. In this chart: - Pullback #1 (Bearish Engulfing) is not accepted, because it's just based on one S&R (13EMA) and the reversal pattern closed near the support of MC. - Pullback #2 (Bullish Engulfing) is strong but closed near 100EMA. Can't trust it. - Pullback #3 is awesome! This is a multi-candle Evening Star (Key Note 1&2), of 100EMA & Resistance of UTP & MC. - Pullback #4 is again good but has closed near the low of MC and is risky to take.
OANDA:XAUUSDEducation
by forexise
Bitcoin Inverse Head & Shoulders Target Hit!Good morning. I have talked about my inverse H&S from our daily chart quite often in past videos and post. Therefore, it is important that I also call your attention to the fact that, as of today, this inverse H&S target has been hit. Congrats to all of you who chose to hold from the break of our neckline. That would not have been an easy task. Now, with our market hot, we need to start to prepare for some pullback. I know this is contrary to what you may be hearing and it might be that popular opinion is correct this time, but usually it is not. The market, if given opportunity, will hurt as many as it can during any counter trend price movement and so it is good to prepare accordingly. Once the market slows down its buying, which might continue to 88k-92k (remember, my year end target has always been 88k-92k), we need to start looking for areas of pullback. There are two significant areas that price could look to retreat to. The first is that white ascending TL around 76k. That is actually the neckline to a larger cup and handle pattern which I will talk about in another post. I could see us coming back to give that neckline a proper retest, validating its legitimacy. The second area is lower and honestly less likely to be tested but on the weekly chart remains a possibility for us to wick down to and quickly lick. That is the 70k area, our last huge area of liquidity. For the cup and handle neckline to remain valid, this drop would have to be relatively quick. I would not see us remaining down in that area if we dropped there for more than a few days. Enjoy all those gainz guys! 2025 will be massive. I have somehow managed to nail the year end target for 2023. Now 2024 is making me look smart. And I can't wait to start showing you all what I see coming for 2025! It will melt faces! ✌️Stew
INDEX:BTCUSD
by stewdamus
PALANTIR ON AN INCREDIBLE BULLRUN ! BUT... But be careful—this does not justify the price at all. Although Palantir has very solid numbers in its balance sheet, this does not justify a valuation at such an overvalued price could be very dangerous ! We must consider that markets in general are bullish, and the results of the latest report recently showed that it remains a very solid company in terms of sales. However, its earnings numbers are average—they meet analysts’ expectations, but by a very narrow margin. Historically, this has been the case in past reports as well. Now, let’s get back to the technical analysis of Palantir. After its report, it managed to break through that institutional zone that marked its peak 3 years ago (2021). After bouncing off the imbalance for a second time, Palantir showed a lot of strength and reached new highs. From here on, we just need to wait for a pullback soon to start analyzing a possible support level. Right now, Palantir is in no man’s land, which makes it a bit difficult to predict its next move. The only thing we can do here is to follow its movement candle by candle, staying alert to wicks and immediate zones where it might pull back. Thank you for supporting my analysis. TRADE SAFE!"
PLong
by RocketMike111
Pick of the Currency Outbreaks AUDUSD. More bulls ahead. This is the Daily chart of AUDUSD. It's up well over 1% today. It looks to have strength continuing to the upside due to a change in momentum favouring the Aussie. You can see in the chart of daily how the 200ema has turned in favour of the Aussie. I would be looking for a pullback to this 200ema which is about 0.6652 to 0.6655 to offer a wider zone of buying. If you look ahead on the Daily, you will see a huge head n shoulders bullish setup which the bulls will be chasing. I wrote a month or 2 ago how I expected the Aussie to breakout, but the USD has also returned to strength. We also saw AUD perform very strongly against a basket of of other currency's in the Asian session earlier.
by Easy_Explosive_Trading
Exide Industries out of consolidation and ready to take off.After a period of consolidation 📉, Exide Industries seems to be building a solid base and is showing signs of renewed bullish momentum 📈. Recently, it also bounced from its 200 EMA, which is an important reversal signal 📊, indicating a potential shift in market sentiment. The consolidation phase likely allowed the market to absorb earlier gains, setting the stock up for its next upward move 🚀. Investors might see this as a prime time to enter, with the potential for continued growth looking promising based on current technical indicators 🔍. View invalidates below 400 on daily close. Disclaimer: All ideas are my personal views and not financial advise. I do not have any Telegram channel nor do I sell any courses.
NSE:EXIDEINDLong
by Numan_SuriyaMohammed
I CALLED THE $PLTR TOP! Down 8% since. Here's where we are goingNYSE:PLTR CALLED THE NYSE:PLTR TOP AS WELL! Down -8% since. Here's where we are going The thesis explained below: 1.) Williams R% had a down slop if you drew a line from the 01JUL2024 top to the most recent 21OCT2024 top. It hit this top 4 times since the first one and everyone was lower indicating resistance and lower tops. 2.) You have a Multi-year CUP on the weekly without a handle formed. We need to form that handle before we go higher that coupled with valuation and the stock price getting ahead of the company's numbers is another reason that plays into this. 3.) The handle would be a perfect little handle with a Volume profile gap fill down to the next volume shelf at $36.50-$37.50. 4.) RSI was in overbought area and finding multiple tops with resistance. Also, it was hitting and rejecting off the same top as previous ATH's back in Jan2021. 5.) Double top on the stochastic and red through yellow downward. 6.) Just shows the date I called it out which was Sunday. Also, time stamped on my repost here. 😁 Thanks for reading! I hope you enjoyed my reanalysis of a thus far predicted pullback. It may not hit my target but that's not the point. The point is being able to realize when something is lining up to turn against you or turn with you to the upside. Also, to realize the fakeouts in the market like what I believe the pullback is on the NASDAQ:QQQ which I made an in depth video going into depth about just like this one. It's pinned on my profile if you haven't seen it yet. LIKE l FOLLOW l SHARE NFA
PShort
by RonnieV29
$IONQ : 5 REASONS TO BE CAUTIOS! BUYERS BEWARE! NYSE:IONQ 5 REASONS TO BE CAUTIOS! BUYERS BEWARE! 5 REASONS WHY: 1⃣ We have a flag pole pattern. The last flag pole pattern in 2023 had the same 937 bar run before it pulled back. 2⃣ Had a Multi-year Symmetrical breakout but needed to retest the breakout area. 3⃣ RSI is running into resistance 4⃣ Stochastic (Trend) is at all-time highs 5⃣ William R is hitting resistance where the stock has bounced off 4 other times. I like the name and want to HOP on this move higher, but I'm not going to jump on a flag pole without a parachute. I'm targeting PULLBACK and an entry price of $13-$14. Stay tuned for more!🔔 Like ❤️ Follow 🤳 Share 🔂 Will the Flag Pole get bigger, or do you agree we are due for a pullback? What other stocks do you want to see an analysis of? Not financial advice.
NYSE:IONQShort
by RonnieV29
Gold Goes ATH Again, How to Work Pullbacks in Overbought MarketsGold Talking Points The massive move in gold has continued to yet another fresh ATH this morning, even with the US Dollar continue its own bullish jump. Trying to chase an overbought market like gold can feel like trying to jump on a rocket that’s already left the Earth, but that doesn’t mean that traders have the singular choice of fading it or avoiding it. There’s the potential for pullbacks such as I’ve been following in these articles over the past few weeks. Gold continues its massive 2024 outing with yet another fresh all-time-high today. This might sound like Groundhog Day, but the yellow metal just continues to impress even with weekly and monthly charts in overbought territory. As I asked a few weeks ago, does that even matter? Well, by the looks of price it does not, at least not at this point. As for explanations behind the move it’s been the Fed and other global central banks pushing towards rate cuts this year that’s propelled the breakout. And even in light of strong US data that, normally, would cause the FOMC to talk up rate hike potential, a hawkish Fed seems nowhere near, and markets are still leaning heavily on the expectation for the bank to cut through next year. Making matters more interesting is the USD backdrop with which the recent trend has run. The USD was weak in Q3 and gold broke out in mid-August and continued to run. The USD has posed a stark turn-around so far in Q4 and still, gold has run higher. At this point there’s no evidence to suggest that the run is finished. But that still doesn’t mean that chasing and hoping is a smart way to work with the move. There’s essentially two ways of working with the long side of an overbought market. One can use breakout strategies, which can be a challenge in and of itself. This opens the possibility of buying highs or selling lows, which can be painful ordeals. It’s not an impossible way to move forward, but traders need to have rigid risk management protocol to institute these types of strategies. Or – traders can wait and try to be patient, using pullbacks on shorter time frames. This still doesn’t guarantee success but at the least, risk can be managed in a more efficient manner by using prevailing price structure and if-then statements. While the move in gold has continued to hasten, there have been pullback setups. There was a setup leading into CPI last week, and another shorter-term after the release of the data point but before the breakout was able to extend. And then this week, there was a test below 2650, buyers holding the line there with a shorter-term higher-low opened the door for another extension of the move. Yesterday saw bulls push all the way up to the prior ATH at 2685, again, leading to a shallow pullback to the first support listed in the article at 2670. And that has since run into yet another fresh higher-high. Gold Fresh Highs – What’s Next? Human psychology has a funny role in markets as it often seems like the crowd gets most bullish at highs or near resistance and most pessimistic at tests of support. But there’s also the inter-play with psychological levels, as the price of 2600.01 can feel much more expensive than just two cents above 2599.99. We saw that play out at the FOMC rate cut last month. Gold tested above 2600 after news of the cut made its way through markets, but that was brief and short-lived as a fast pullback soon developed. The pullback from that tested below a minor psychological level at 2550, with bulls soon returning to push price back above 2600. At this point, we’ve seen continued reticence inside of 2700 so it seems as though bulls are shying away from a test from that price so far. But, if we do see that trade, that could be an open door for buyers to take profits, which can open the door for the next pullback. In that scenario, the prior ATH at 2685 becomes a point of interest for higher-lows. If that doesn’t hold and profit taking sets in a bit more, 2675 or 2667 become of interest. And technically, we could even see a pullback drive back down to 2650 while keeping the door open for higher-highs and lows on the daily chart. --- written by James Stanley, Senior Strategist
WHSELFINVEST:GOLDLong
by WHSelfInvest