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Tesla - Finally exiting consolidation...NASDAQ:TSLA has been consolidating for four years and is ready for a (bullish) breakout. We have a beautiful repetition of cycles on Tesla: Long term consolidation followed by a qiuck and agressive move higher followed once again by a long term consolidation. Tesla entered such a consolidation about four years ago and is now simply ready for another bullish breakout and an agressive move higher. It is just a matter of time until the triangle pattern breaks... Levels to watch: $120, $220 Keep your long term vision, Philip - BasicTrading
NASDAQ:TSLALong
by basictradingtv
28
NVDA: Critical Inflection Point!The daily chart of NVDA shows a complex technical scenario, highlighted by the presence of a potential Head and Shoulders (H&S) pattern frustration point. The H&S pattern is a bearish reversal pattern, but the price action suggests that it may not have completed, leading to the current consolidation phase. This frustration point is marked by the resistance line at $128.12, which NVDA has struggled to break through consistently. The daily chart also shows a trendline support, which has been respected multiple times, providing a strong upward momentum. The 21-day EMA serves as an additional support level. The recent price action indicates a consolidation phase between $128 resistance and the trendline support, creating a tight trading range. Traders should watch for a breakout to determine the next significant move. On the weekly chart, NVDA has been in a strong uptrend, with the 21-week EMA providing support. The main support level is identified at $118.04, a crucial level that has been tested and held in recent weeks. This level coincides with the neckline of the potential H&S pattern seen on the daily chart, making it a critical support zone. In summary, NVDA is at a critical juncture with consolidation between key levels. Traders should monitor the $128 resistance and the main support levels closely for breakout or breakdown signals to determine the next major move. The overall trend remains bullish, but caution is warranted given the potential bearish H&S pattern and the current consolidation phase. For more detailed technical analyses and insights like this, be sure to follow my account. Your support helps me continue providing valuable content to help you make informed trading decisions. Remember, real trading is reactive, not predictive, so let's stay focused on the key points described above and only trade when there is confirmation. “To anticipate the market is to gamble. To be patient and react only when the market gives the signal is to speculate.” — Jesse Lauriston Livermore All the best, Nathan.
NASDAQ:NVDA
by Nathan_The_Finance_Hydra
QQQ: Approaches Psychological Resistance! (D&W charts)In the daily chart of the QQQ, the price is steadily climbing within a well-defined uptrend, supported by the 21-day EMA and an ascending trend line. The ETF is approaching a critical psychological resistance level at $500, marked by the red line. This level is significant as it often acts as a barrier due to its round-number nature, where traders tend to set sell orders. A decisive close above this level would signal a continuation of the uptrend, potentially leading to further gains. The daily chart also shows a recent breakout above the previous resistance at 486.86, which now serves as a support level. This breakout, accompanied by higher lows, reinforces the bullish sentiment. If you are looking for entry points, then you might consider buying on pullbacks to the 21-day EMA or on a breakout above the psychological resistance at $500, confirming bullish momentum. On the weekly chart, QQQ is displaying strong bullish characteristics with consistent higher highs and higher lows. The 21-week EMA has been a reliable support, indicating the overall trend remains bullish. The recent bullish candle indicates strong buying interest, suggesting that any pullback might be limited and serve as a buying opportunity. Integrating both the daily and weekly charts, QQQ is showing robust bullish momentum. The key level to watch is the psychological resistance at $500. A successful close above this level would open the door for further gains. Conversely, failure to break above this resistance could lead to a minor pullback to the support levels around 486.86 or the 21-day EMA. For now, we should monitor these levels closely to determine the strength of the uptrend and make informed trading decisions. For more detailed technical analyses and insights like this, be sure to follow my account. Your support helps me continue providing valuable content to help you make informed trading decisions. Remember, real trading is reactive, not predictive, so let's stay focused on the key points described above and only trade when there is confirmation. “To anticipate the market is to gamble. To be patient and react only when the market gives the signal is to speculate.” — Jesse Lauriston Livermore All the best, Nathan.
NASDAQ:QQQ
by Nathan_The_Finance_Hydra
3
TGT Swing 1H Long Conservative TradeConservative Trade + long impulse + Daily 1/2 correction + T2 level + support level + 2Sp+ + weak test + first bullish bar closed entry Calculated affordable stop limit 1 to 2 R/R take profit Daily context: "- short impulse + biggest volume T1 + support level + volumed 2Sp+ + weak test + 1/2 correction" Monthly context: "+ long impulse + SOS level + support level + close to 1/2 correction" TGT @NYSE Bought Market, Day Profit Taker Sell Limit 150.02, GTC Profit Taker Sell Stop 144.77 LMT 146.70, GTC
NYSE:TGTLong
by MishaSuvorov
Is LTC approaching a trend reversal?I invite you to check the situation of LTC in pair with USDT on a one-weekend basis. We see on the chart that the price is at the intersection of two lines, an upward trend line and a downward trend line. These are the two main trend lines that have currently formed a triangle from which the price will choose the direction of movement. Locally, we can see a sideways trend channel with smaller and smaller lows. The RSI indicator shows that we have approached the place where we could previously observe price rebounds, the STOCH indicator looks similar, but here we can see a movement at the lower limit, which may translate into an upward movement. Moreover, the chart shows how the price remains in a strong support zone, which may also influence the upcoming rebound towards the designated resistances.
Long
by cryptodailyuk
Fourth Straight Weekly Loss for BTC/USD; Support in PlayBTC/USD remains entrenched in a corrective slide, bolstered by the Fed minutes emphasising reluctance to ease policy until confidence in the disinflation process is observed. Early Downtrend Signalled, But… Down for a fourth consecutive week and shedding -6.3%, the major crypto pairing is now displaying early signs of a longer-term downtrend on the weekly timeframe, given the fresh lower low formed last week at $53,412 – its lowest value since late February. The weekly timeframe’s structure, nevertheless, points to a potential rebound. Support at $56,796 and channel support, taken from the low of $60,717, recently welcomed price action. Should bears take a back seat here and bulls make a show, we could still be looking at a possible bullish flag formation (drawn from the above low at $60,717 and the crypto’s all-time high of $73,845). However, considering recent downside momentum, the risk of further declines remains and could unmask possible follow-through selling towards another layer of support coming in at $51,948. Daily Support Thursday witnessed the break of trendline support, extended from the low of $26,665 (a bearish signal). Of note, price action has also made its way south of the 50-day simple moving average (SMA) at $64,758, yet we have not seen the unit cross below the 200-day SMA at $51,698. Despite the bearish cues, Friday shook hands with a 100% projection ratio at $54,678 (an AB=CD bullish pattern), complemented by a 38.2% Fibonacci retracement ratio from $55,151. South of here, a decision point area calls for attention at $50,601-$53,015, followed by another layer of support at $48,007. Price Direction This Week? This week, on the side of sellers, we have an early downtrend present depicted through price structure (the lower low on the weekly), and the trendline support and the 50-day SMA breach on the daily. However, sellers must contend with heavyweight support on the weekly and daily timeframes ($56,796 and $54,678, respectively). It should also be noted that should these levels cede ground, the daily decision point area at $50,601-$53,015 awaits nearby, which houses the next layer of weekly support mentioned above at $51,948 and the 200-day SMA at $51,698. Therefore, sellers will likely be reluctant to commit until at least current support is consumed, which may trigger a rebound higher this week.
FPMARKETS:BTCUSDLong
by FPMarkets
Well This Isn't A Good Look For BitcoinIt's been a hard couple of weeks in the crypto markets, and it is not looking much better when you zoom out to the weekly timeframe. The Logical Trading Indicator is flashing a sell signal on this week's candle which means that we have some serious downward momentum hitting the Bitcoin market. For you new guys, this means that there is way more selling pressure coming into the market than buying pressure. Trading is nothing but a game of supply and demand. My thought is that the Bitcoin ETF news event earlier in the year caused us to go into an early cycle that broke all time highs WAY too soon. Now we are paying the price for that, literally... Now that the big boys of Wall Street are manipulating the price, there is no telling what is going to happen. As retail traders, we just need to be able to catch and ride the waves because we don't have enough capital to move the price on our own anymore. What I see happening is that if this weekly candle closes with this sell signal, that will drive the price of Bitcoin down closer to the next somewhat level of market structure, which is around $50k. After that, the next solid level is around $37K-$40K. Not saying it's going to happen, we all want to be optimistic about the price, but we have to face reality that Wall Street wants cheaper Bitcoin so they are going to short futures until they get it to the price they want to buy it at. Once they get their fill, then we could see some real fire works when it comes to a pump in price, but we just have to be patient and ride their wake for a while until it happens. It's very important to not get caught up in the noise on social media and focus on the data in the charts. Fundamentally, Bitcoin is not making any changes. The only news is about regulations and on and off ramps, but nothing about the actual blockchain or it's mechanics. So based on that, BTC traders can really just focus on price movements for now. Don't let a small price pump fool you either, Wall Street wants cheaper Bitcoin, and they will get what they want. Now on the flip side of this, if we hold this level as support, which honestly is not looking like the case as of this post, but if buyers do hold this level, we look at this dump as a shake out and may start the next leg up. So again, we have to be ready for anything. This is really why I just let the Logical Trading Indicator tell me when it's time to pay attention and when to trade. Are you bears ready for another ride down? Or are you bulls gearing up for a moonshot? Be careful out there in these volatile markets and trade logically!
COINBASE:BTCUSD
by thelogicaldude
Buy XAUUSD Channel BreakoutThe XAU/USD pair on the M30 timeframe presents a potential Buying opportunity due to a recent downward breakout from a well-defined channel pattern. This suggests a shift in momentum towards the Upside in the coming Hours. Key Points: Buy Entry: Consider entering a Long position around the current price of 2326, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum. Target Levels : 1st Support – 2351 2nd Support – 2365 Stop-Loss: To manage risk, place a stop-loss order below 2316.50 This helps limit potential losses if the price unexpectedly reverses and breaks back upwards. Thank you.
OANDA:XAUUSDLong
by KABHI_TA_TRADING
21
Ethereum - Is everything already over?CRYPTO:ETHUSD is struggling to break above the previous all time high and might correct soon. Please don't look at headlines and news regarding cryptocurrencies. Overall these messages are just preventing you from objectively looking at the chart. Ethereum is creating higher highs and higher lows, meaning that Ethereum is trading in an uptrend. Even if Ethereum is not able to break above the previous all time high, market structure still remains decently bullish. Levels to watch: $4.000, $2.200 Keep your long term vision, Philip - BasicTrading
CRYPTO:ETHUSDLong
by basictradingtv
4
Gold (Xau/Usd) Triangle in H1The XAU/USD pair on the H1 timeframe presents a Potential Buying Opportunity due to a recent breakout from a Triangle Pattern. This suggests a shift in momentum towards the upside and a higher likelihood of further advances in the coming hours. Possible Long Trade: Entry: Consider Entering A Long Position Above The Broken Trendline Of The Triangle After Confirmation. Ideally, This Would Be Around 2331 Target Levels: 1st Resistance – 2358 2nd Resistance – 2378 Stop-Loss: To manage risk, place a stop-loss order below 2317.50. This helps limit potential losses if the price falls back unexpectedly. Thank you
FOREXCOM:XAUUSDLong
by KABHI_TA_TRADING
27
Buy GBPUSD Wedge BreakoutThe GBP/USD pair on the H1 timeframe presents a potential Buying opportunity due to a recent downward breakout from a well-defined Wedge pattern. This suggests a shift in momentum towards the Upside in the coming Hours. Key Points: Buy Entry: Consider entering a Long position around the current price of 1.2660, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum. Target Levels: 1st Support – 1.2737 2nd Support – 1.2803 Stop-Loss: To manage risk, place a stop-loss order below 1.2600. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards. Thank you.
Long
by KABHI_TA_TRADING
25
NEAR/USDT Trading ScenarioAfter reaching a local high of $8.981, NEAR corrected to $4.453, resulting in a decline of over 50%. Subsequently, the asset attempted to recover but failed to reach the previous local high and once again headed downward, retesting the $4.453 level and breaking below the 200-day moving average. Currently, the asset is trading near the newly formed resistance level and the 200-day moving average, with support provided by the volume profile. Under current conditions and within the summer market context, a continuation of the downward movement can be expected with the aim of liquidity accumulation. This situation appears quite attractive for opening a position in this asset and holding it until new significant sell signals emerge.
by Rick_SimpleSwap
Sell EUR/USD Channel BreakoutThe EUR/USD pair on the M30 timeframe presents a potential selling opportunity due to a recent downward breakout from a well-defined Bearish Channel pattern. This suggests a shift in momentum towards the downside in the coming Hours. Key Points: Sell Entry: Consider entering a short position around the current price of 1.0732, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum. Target Levels: 1st Support – 1.0699 2nd Support – 1.0675 Stop-Loss: To manage risk, place a stop-loss order above 1.0760. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards. Thank you.
Short
by KABHI_TA_TRADING
16
SPY: Beware of These Reversal Patterns!In the daily chart of the SPY, a potential double top pattern is forming, signaling a bearish reversal. The key resistance level for this pattern is around 550.12, where the price has failed to break through on two recent occasions, marked by red arrows. This level is critical for traders to watch as it represents a significant hurdle for any upward momentum. If SPY fails to close above this resistance, it might lead to a bearish breakdown towards the neckline support at 542.62. A break below this level would confirm the double top pattern, potentially leading to a further decline towards the next support around 533.07. On the weekly chart, a gravestone doji pattern has emerged, a strong bearish reversal signal, especially after a sustained uptrend. This pattern indicates that buyers were unable to maintain higher prices, leading to a close near the week's low. The gravestone doji, appearing near the resistance level around 550.12, reinforces the bearish outlook suggested by the daily double top pattern. If the bearish sentiment persists, the first significant support to monitor is the 21-week EMA, which has historically provided dynamic support during uptrends. Integrating the daily and weekly charts, SPY is at a crucial juncture. The double top pattern on the daily chart and the gravestone doji on the weekly chart both indicate potential bearish pressure. If you are bullish, a decisive close above 550.12 would invalidate the double top and suggest a continuation of the uptrend. However, the current technical indicators favor a bearish scenario, with the potential for a significant correction if key support levels are breached. For now, we should closely monitor these critical levels to gauge SPY's next move, balancing the bearish signals with the potential for bullish invalidation. For more detailed technical analyses and insights like this, be sure to follow my account. Your support helps me continue providing valuable content to help you make informed trading decisions. Remember, real trading is reactive, not predictive, so let's stay focused on the key points described above and only trade when there is confirmation. “To anticipate the market is to gamble. To be patient and react only when the market gives the signal is to speculate.” — Jesse Lauriston Livermore All the best, Nathan.
AMEX:SPY
by Nathan_The_Finance_Hydra
3
UPL :: Turning around to (Agrow)Chemical Stock? - It's been decades we have seen that AgriCulture is contributing almost about 18-20% in India's GDP growth yet this sector remains to be more politically inclined to their specific actions during major elections. - GDP contribution by Top 3 sectors: Agriculture: 18.4% Industry: 28.3% Services: 53.3% - NSE:UPL is one of the top 5 global providers of total agricultural solutions with a footprint in 138+ countries. Going by the current situation we see the following observations - 1) Script is trading at a Money-based range dating back to the pandemic lows after hitting 52W Lows due to global headwinds. 2) After a stellar doubler move from Dec'20 to May'21 the script delivered almost more than 100% return to its investors and eventually we see a exhaustion after an eventual double top like pattern with a neckline candle marked in a red zone. 3) Interestingly, you see a SWAP LEVEL marked to denote the beautiful Yearly Low of 2021 being protected for next 2yrs and finally breaks down nearing ending of 2022 while being in a range of 200p within the red zone and swap level for that existing period. 4) While, we talked about price action in the previous point we missed out the lethal info being nudged in by our FUNDFLUX tool which showed consistent outflow of money in first 2Q's of 2022 before it out the swap level in Q3 of 2022. 5) What happens next will make you understand why we call the marked blue dotted line as the "Swap level" as after the breakdown we see a retest of the same level now turning out to be a resistance for script and eventually the Yearly Pivot Level of 2024 . 6) Now, currently the script trades in a good money-based range eventually dodging out YL4 breakdown and here the risk seems to be minimum as per the return is concerned as after 510-520 the script will be ripped for 640-650 initial target making a return of 30-35% in cash from entry being in the marked money-based green range and it can be in news in this quarter as elections are nearing and as said in the beginning - "AgriCulture" will be on one of the top agendas of the political parties and alongside if we see a relief from destocking and price revisions in the West after the much anticipated rate cuts then it will be an icing on the cake for the script as margins will improve in the coming quarterly results and lastly monsoon season is about to begin in India in a month and till now SKYMET expects Monsoon to be 'normal' in India. A RELEVANT ARTICLE - www.livemint.com
NSE:UPL
by PivotMinati
1
AUD/USD - H1 Chart - Wedge BreakoutThe AUD/USD FX:AUDUSD pair on the H1 timeframe presents a potential selling opportunity due to a recent downward breakout from a well-defined Wedge pattern. This suggests a shift in momentum towards the downside in the coming Hours. Key Points: Sell Entry: Consider entering a short position around the current price of 0.6644, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum. Target Levels: 1st Support – 0.6611 2nd Support – 0.6590 Stop-Loss: To manage risk, place a stop-loss order above 0.6663. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards. Thank you.
Short
by KABHI_TA_TRADING
12
MU: A Dangerous Inflection Point! (D&W charts).Daily Chart: On the daily chart, MU is trading within an ascending channel, a bullish indicator suggesting an uptrend continuation. The recent price action has tested the lower boundary of this channel, around 133.30, a critical support level that was a previous resistance, as evidenced by the red arrows – another example of the Principle of Polarity. The price rebounded from this support, highlighting its significance. A sustained move above this level could push the stock higher within the channel, potentially targeting the recent highs around 157.41. The only thing missing is a clear bottom signal (there isn't any so far). However, a break below 133.30 could signal a potential shift in trend, leading to a deeper correction in the weekly chart. Weekly Chart: In the weekly chart, a shooting star pattern is observed, a bearish reversal signal that often appears at the top of an uptrend. This pattern indicates a potential top, especially if followed by a bearish confirmation in the subsequent weeks. The current weekly close below the low of the shooting star reinforces the possibility of a correction (however, this week isn’t over yet). If the price continues to decline, the next significant support level to watch is the 21-week EMA, which has previously acted as a dynamic support. Conclusion: Integrating both time frames, MU is at a crucial juncture. The daily ascending channel suggests a bullish bias, but the weekly shooting star pattern warns of a potential correction. If the price holds above the key support of 133.30 on the daily chart, it could resume its upward trajectory within the channel. However, failure to maintain this level might lead to further downside, aligning with the bearish implications of the weekly shooting star. Fow now, we should monitor these levels closely to gauge the stock's next move, balancing the bullish potential of the ascending channel with the caution warranted by the shooting star pattern. For more detailed technical analyses and insights like this, be sure to follow my account. Your support helps me continue providing valuable content to help you make informed trading decisions. Remember, real trading is reactive, not predictive, so let's stay focused on the key points described above and only trade when there is confirmation. “To anticipate the market is to gamble. To be patient and react only when the market gives the signal is to speculate.” — Jesse Lauriston Livermore All the best, Nathan.
NASDAQ:MU
by Nathan_The_Finance_Hydra