$NYSE:QBTS Breaking out?NYSE:QBTS has broken above the top of a bullish flag. Initial Price Target (PT) is ~$9.28
Chart Patterns
SPY at a Critical Juncture: Will it Reversal or More Pain Ahead?In the past two days, SPY (S&P 500 ETF) has experienced a pronounced downturn, raising critical questions about the next directional move. Today's price action indicates a pivotal moment, with the market consolidating near a key support level at $584. The question remains: is this a pause before a bounce, or a precursor to further downside?
This detailed analysis breaks down SPY's current technical setup, provides actionable trade levels, and offers insights into potential scenarios for tomorrow's session. Let’s dive into the charts and indicators to uncover opportunities.
Technical Market Trend Analysis
1. Downtrend Confirmation
* Price Structure: SPY has formed consistent lower highs and lower lows over the past two sessions, clearly defining a downtrend. The breach of the critical $587 support level early in today’s session amplified selling pressure.
* Trendlines: A descending channel on the hourly chart below further confirms bearish control, with price respecting the upper boundary of the channel as resistance.
2. Volume Dynamics
* Selling Pressure: Noticeable volume spikes during the declines highlight strong participation by sellers.
* Reduced Buying Interest: Rebounds were marked by lower volume, indicating a lack of commitment from buyers.
Key Levels to Watch
Support Levels
1. $584: The current zone where price consolidates. This is the first line of defense for bulls.
2. $580: Major gamma exposure support level (GEX7). Breaching this level could accelerate downside momentum toward $575.
Resistance Levels
1. $587: Immediate resistance. A reclaim of this level would signal strength and could trigger short covering.
2. $590: Aligned with gamma resistance and psychological significance, this is the next target for a bullish breakout.
Indicators in Play
EMA Analysis
* The 9 EMA and 21 EMA are both sloping downward, acting as dynamic resistance levels. This reinforces the short-term bearish trend.
MACD
* The hourly MACD shows bearish momentum, with a widening histogram and a negative crossover. However, a slight tapering in the histogram near the end of the session hints at potential consolidation or a reversal attempt.
Options Oscillator and GEX Insights
* Gamma Levels:
* $584: Current pivot, showing strong put positioning.
* $580: Heavy put support; any break below this would likely see rapid downside.
* $590: Significant call resistance; a breakout above would indicate a shift in sentiment.
* Sentiment: Dominance of 102.7% puts reflects bearish sentiment in the options market.
Trading Strategy
Scenario 1: Bullish Reversal Setup
1. Entry: Enter long above $587 with confirmation of strong volume.
2. Target: $590 for the first target, $593 for the second.
3. Stop-Loss: Place stops at $585 to minimize risk.
4. Justification:
* Reclaiming $587 would signal a potential reversal or at least a relief rally.
* $590 aligns with gamma resistance, offering a logical profit target.
Scenario 2: Bearish Continuation Setup
1. Entry: Short below $584 with increasing sell volume.
2. Target: $580 for the first target, $575 for the second.
3. Stop-Loss: Place stops at $585.50 to cap risk.
4. Justification:
* A breakdown below $584 would confirm the continuation of the downtrend.
* Heavy put support at $580 would likely provide the next pause point.
Market Outlook
While the short-term trend is bearish, the market is approaching a critical inflection point. Tomorrow’s session will likely determine whether SPY bounces from oversold conditions or continues its descent. Watch for high-impact news and volume trends to validate directional moves.
Conclusion
SPY’s price action reflects a decisive moment. Both bulls and bears have clear opportunities depending on how the key levels at $584 and $587 play out. Use disciplined risk management and wait for confirmation before entering trades.
Disclaimer
This analysis is for educational purposes only and does not constitute financial advice. Always do your own research and trade responsibly.
AUD/CAD 4H Timeframe AnalysisAUD/CAD 4H Timeframe Analysis
Trend:
In the 4H timeframe, the AUD/CAD pair is currently in a downtrend, characterized by the formation of lower lows and lower highs. Recently, we have seen the formation of a bull flag pattern, which typically signals a potential reversal or continuation of a bullish trend. The price has broken through two minor key support levels at 0.90600 and 0.89800. Our objective now is to wait for the price to retest the 0.90200 level, which may lead to an accumulation phase for buy orders. We anticipate a potential manipulation phase, or stop-loss hunt, below the minor key support and within our liquidity zone. Following this, we will wait for the price to return and break above the minor key support before taking action.
Price Action Expectation:
We expect that the bull flag formation could signal a breakout to the upside. Once the price breaks above the minor key support, it could trigger further buying momentum. Our goal is to place a buy stop order above the 0.90200 level, once the price demonstrates strength in breaking through, while protecting our position with a stop-loss below the liquidity zone.
Trade Setup:
Trade Type: Buy Stop
Entry Price: 0.90100 (just above the minor key support)
Stop Loss: 0.89380 (positioned below our liquidity zone to protect against adverse movements)
Take Profit: 0.91590 (targeting the next key resistance level)
Upcoming News (Fundamental Outlook):
This Friday, we have important economic data from Canada that could influence the price of AUD/CAD:
Core Retail Sales m/m (Canada): Expected at 0.2% (previous: 0.9%)
Retail Sales m/m (Canada): Any surprises in these retail sales figures could affect the CAD strength. A weaker-than-expected reading may lead to bearish pressure on CAD, which would support our bullish outlook for AUD/CAD.
BTC BULLISH SCENARIO: A LONG BUY WICK OFF 97K SUPPORT INTO 100K In my opinion, this scenario is the most likely to play out because bulls are showing strength even during dips, indicating they’re not ready to stop buying yet.
Here’s what I think will happen:
We bounce off the 96K-97K support , forming a strong long-buy wick candle , which sets the stage for the next week (starting December 23rd) to turn green. I’ve included a simulation to illustrate how this might look (check candles)
The key for me is staying within this channel— above 97K but below 100K —for some time. If we can consolidate here for a month, it creates room for altcoins to rally, delivering significant profits. As altcoins surge, BTC dominance (BTC.D) will drop, enabling massive altcoin gains. Eventually, that capital will rotate back into BTC, pushing it above 100K once again making higher highs.
Technical Analysis of NIFTY Index - 30-Minute TimeframeDouble Top Pattern:
The chart shows a double top pattern (marked as "Top 1" and "Top 2"), which is a bearish reversal pattern.
The neckline for this pattern has been broken, confirming bearish momentum. The pattern suggests that the uptrend has reversed, leading to a downward move.
Falling Wedge Pattern:
After the double top, the index has formed a falling wedge, which is typically a bullish reversal pattern.
The price has broken out of the falling wedge, signaling the potential for a short-term bounce.
Targets:
Immediate Upside Target: The breakout from the falling wedge suggests a potential recovery toward 24,200–24,300.
Downside Target: If bearish momentum resumes, the index could move toward 23,500 as marked on the chart.
Volume Analysis:
The breakout from the falling wedge is accompanied by a slight increase in volume, which supports the bullish case. However, sustained volume is needed for the uptrend to continue.
Support and Resistance Levels:
Support:
Immediate: 23,800
Stronger: 23,500
Resistance:
Immediate: 24,200–24,300
Extended: 24,500
Moving Averages:
The index is currently trading near its short-term moving averages, which could act as dynamic resistance. A breakout above these levels would confirm further bullish momentum.
Fundamental Analysis of NIFTY Index
Macroeconomic Environment:
Global Factors: Uncertainty in global markets, including rising interest rates and geopolitical tensions, have added to the volatility in Indian markets.
Domestic Growth: India's economy continues to grow steadily, supported by strong consumer demand, government infrastructure spending, and a robust services sector.
Sectoral Performance:
IT and Pharma: Defensive sectors like IT and Pharma have seen relative strength amid global uncertainties.
Banking and Financials: Despite some recent corrections, banking and financial services continue to drive the index, supported by rising credit growth and strong results from private banks.
Metals and Energy: Global commodity prices and demand from China remain key drivers for metals and energy stocks.
Corporate Earnings:
Indian corporates have shown resilience with steady earnings growth, particularly in the FMCG, banking, and auto sectors. However, margin pressures persist in some sectors due to higher input costs.
Valuation:
NIFTY's valuation remains slightly stretched compared to historical averages, suggesting room for further correction. However, strong long-term growth potential keeps the outlook positive.
Key Risks:
Rising interest rates globally could tighten liquidity.
Any further escalation in geopolitical tensions or slower global growth could impact market sentiment.
Conclusion:
Technical Outlook:
NIFTY has formed a double top, confirming bearish momentum, but a breakout from the falling wedge offers a short-term bullish opportunity.
Upside Targets: 24,200–24,300
Downside Risk: 23,500 (if bearish momentum resumes)
Fundamental Outlook:
India’s economic fundamentals remain strong, supported by consumer demand and government spending.
While the market faces short-term headwinds, the long-term outlook remains positive, making this an opportunity to accumulate quality stocks during corrections.
RENDER trade entry set upLong term analysis
On a weekly timeframe, BINANCE:RENDERUSDT is developing a powerful bullish wave since January 2023. The last corrective wave (around -70%) seems to be ending with a reversal pattern. In addition we have a weekly golden cross signal which from history gave good opportunities from the last 2 waves and the flat and narrow bollinger bands hint at a potential explosive move upward.
Strategy
Buy on the break of the resistance line of 7.70$.
Objective 1: back to the next resistance at 9.80$ (+30%)
Objective 2: ATH at 13.50$ (+75%)
Objective 3: Wave V extension around 30$ (+290%)
Invalidation
Mental Stop: below the last low of 6.90$
If prices retrace to this level we will wait for the daily close price then set a Stop loss ¼ or Risk below the weekly close price.
THOUGHTS ON ETHUSDT.P UPDATEDThese are my thoughts on what I think will happen with ETHUSDT.P and why I think they will happen. Comment more things you guys wanna see.
Gold Intraday Trading Plan 12/20/2024Instead of melting down further, gold retraced all the way to 2627 and closed with a green bar. However, I still think there is still room for bears.
Price could go up to 2608 before another leg down.
1st target 2565. 2nd target 2542.
XRP: Bullish continuation imminent! XRP has been on a massive upside move, and currently, the price is cooling off in a falling wedge pattern! If you're looking to trade XRP at the moment, here's a quick setup that you might find helpful!
The idea is: Buy when the price breaks above $2.51 and take profits at the levels shown in the chart.
Targets:
1. $2.6
2. $2.7
3. $2.8
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About our trades:
Our success rate is notably high, with 10 out of 11 posted trade setups achieving at least their first target upon a breakout price breach (The most on TW!). Our TradingView page serves as a testament to this claim, and we invite you to verify it!
BTC: Bullish Weekly Trend, But Daily Chart CautionsKey Observations:
- Weekly candles forming higher highs and higher lows, indicating a bullish trend.
- Currently testing weekly bottom support.
- However Daily chart showing trend and EMA reversal, suggesting a potential short-term correction.
Dilemma:
- Should we buy now, given the bullish weekly trend?
- OR wait for daily EMA reversal off weekly EMA?
Possible solution is to watchout:
- for a break of the previous week's low may provide clarity.
- Alternatively, if the price holds above the previous low, to rally to 104k.
Trading Idea:
- Consider playing the 94k-104k range for a potential bounce.
- Alternatively, wait for a daily EMA reversal before entering a long position.
What are your thoughts?
ETHUSDT, D1 Chart, Double Top and Market Structure👋Hello Traders,
Our 🖥️ AI system detected that there is an D1 timeframe ICT Short setup in
ETHUSDT for Swing trade.
Technically it is clearly that a double top formation and a LG at second top.
Our idea:
ETHUSDT is going to the extension target to the demand zone marked on the chart.
May be a possibility back to the FVG before further down.
So we only waiting for Short setup for swing trade and day trade in the coming 2 weeks.
For more ideas, you are welcome to visit our profile in tradingview.
Have a good day!
Please give this post a like if you like this kind of simple idea, your feedback will bring our signal to next better level, thanks for support!
When and Where this Bull Market Ends / BTC.D and TOTAL3 BehaviorCRYPTOCAP:BTC.D
Bitcoin Dominance and Alt Season Trigger:
The chart indicates that when Bitcoin Dominance reaches around 59%-64%, there’s a high chance of an BTC dominance market correction. This level often signals the end of a Bitcoin rally and the start of funds flowing into altcoins.
You can use this dominance level as a timing signal to anticipate the start of the next alt season.
Historical Patterns and Timelines:
Key vertical markers show important dates from past cycles, such as 2018, 2021, and projected points for 2025. These points highlight recurring patterns that can help forecast the end of the current Bitcoin rally.
TOTAL3 Index Trends Relative to BTC:
The TOTAL3 index (all altcoins excluding BTC and ETH) shows that after Bitcoin Dominance declines, TOTAL3 often experiences a sharp rise. This pattern has repeated in previous cycles, hinting at a potential similar move in the upcoming alt season.
Bitcoin Price Rallies and Corrections:
The lower chart shows Bitcoin's bullish and bearish phases, typically lasting between 450 to 550 days. This timeframe can help estimate the remaining duration of the current Bitcoin rally.
Future Predictions:
Based on the chart, Bitcoin Dominance is expected to reach critical levels again in 2025, potentially marking the start of the next major alt season. While this timeline depends on market conditions and investor behavior, it offers a general framework.
GBPUSD Will Go Up From Support! Buy!
Please, check our technical outlook for GBPUSD.
Time Frame: 1h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is testing a major horizontal structure 1.249.
Taking into consideration the structure & trend analysis, I believe that the market will reach 1.256 level soon.
P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.
Like and subscribe and comment my ideas if you enjoy them!
$HIVE Short Term Swing FormationsNASDAQ:HIVE in a critical spot to watch to determine market direction after significant period of consolidation.
Looking for break below blue trendline to invalidate.
Looking for convincing vol to break $4.20-$4.70 resistance and test of purple trendline for breakout.
SPXUSD Daily Has A Inverse Cup & Handle Hey fellow traders and followers! I have to point out a possible inverse cup & handle and targets if she plays out in SPX Oanda.
Breaking point on daily is 5881.6 after which would trigger bears to take over the show and bring us down to the measured move of 5751.3 area. If that area breaks after being tested with a fail we falllll ---
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--5643.3------------
Market sits in no man's land I like to call it being bulls and bears on both sides of this rope in a tug of war. Be very very cautious at this time as charts in bigger TF's are starting to spell( FALL )
Don't get hurt on this one as this fall will give you more than just a scrape on the knees, more like a broken leg or worse.
Trade with caution and best of luck in all your trades. Cheers!
Serve Robotics Incwitnessed a strong rebound in yesterday's session after attempting to test the support level at 12.84, to close at the last peak 15$, which is the level that needs to be violated, to confirm the current uptrend, triggering further rises near 17.79 - 19.61 - 21.62 - 24.09, where the historical peak lies.
The stop-loss lies below 12.70$.
the indicators are heading toward the positive side, which confirms the mentioned positive scenario.
Disclaimer: This analysis is for informational purposes only and does not constitute financial, investment, or trading advice.
XASUUSD(Gold) Signal update Hello guys here XAUUSD(Gold) signal look at the chart and share your ideas about it .
Here you can see Gold is Bearish from current area lets follow it.
Here Resistance zone is 2614 and support zone is 2693 and Target point is 2575 .
For further information you can view my chart ,must share your ideas about it ,support me with your likes and comments boost my post
BCHUSD "Bitcoin Cash" Crypto Market Heist Plan on Bearish Side🌟Hi! Hola! Ola! Bonjour! Hallo!🌟
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Based on 🔥Thief Trading style technical analysis🔥, here is our master plan to heist the BCHUSD "Bitcoin Cash" Crypto market. Please adhere to the strategy I've outlined in the chart, which emphasizes short entry. Our aim is the high-risk Green Zone. Risky level, oversold market, consolidation, trend reversal, trap at the level where traders and bullish robbers are stronger. 👀 So Be Careful, wealthy and safe trade.💪🏆🎉
Entry 📉 : You can enter a trade anywhere,
however I advise placing sell limit orders within a 15 or 30 minute timeframe. Entry from the most recent or closest high level should be in retreat.
Stop Loss 🛑: Using the 2H period, the recent / nearest high level.
Goal 🎯: 480.00
Scalpers, take note : only scalp on the Short side. If you have a lot of money, you can go straight away; if not, you can join swing traders and carry out the robbery plan. Use trailing SL to safeguard your money 💰.
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1000PEPEUSDT.Phello friends
Due to the high growth of this coin, now that it has entered a correction, it has reached a very strong support area, from where we expect a higher ceiling.
Note that the price will increase if the support zone remains valid and does not break, so manage your investment and be careful...
This analysis is checked from a technical point of view.
Be successful and profitable.
BITCOIN - Sell Idea (Short-term)The failure to breakout above the key-level resistance of $106,374 suggests that price action is turning around for a technical correction at the very least. We believe that a quick drop to the levels of $94,500 is imminent. Firing off a new short-term bearish campaign, targeting $94,270. Stay tuned...
GBPCAD A Fall Expected! SELL!
My dear subscribers,
My technical analysis for GBPCAD is below:
The price is coiling around a solid key level - 1.8206
Bias - Bearish
Technical Indicators: Pivot Points Low anticipates a potential price reversal.
Super trend shows a clear sell, giving a perfect indicators' convergence.
Goal - 1.8179
About Used Indicators:
By the very nature of the supertrend indicator, it offers firm support and resistance levels for traders to enter and exit trades. Additionally, it also provides signals for setting stop losses
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WISH YOU ALL LUCK
DeGRAM | EURGBP rebound from 62% retracement levelEURGBP is in a descending channel above the descending wedge formed by the trend lines.
The price is moving from the lower trend line and the lower boundary of the channel.
The chart has already consolidated above the upper trend line and is now above the support level coinciding with the 62% retracement level.
We expect the rebound to continue.
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Share your opinion in the comments and support the idea with like. Thanks for your support!
US30 POSSIBLE BUY The market is currently testing the current Weekly 0.78 Fib area. Based on 4HR TF, the market seems to be forming a possible reversal pattern.
We could see BUYERS coming in strong should the current level hold.
Disclaimer:
Please be advised that the information presented on TradingView is solely intended for educational and informational purposes only.The analysis provided is based on my own view of the market. Please be reminded that you are solely responsible for the trading decisions on your account.
High-Risk Warning
Trading in foreign exchange on margin entails high risk and is not suitable for all investors. Past performance does not guarantee future results. In this case, the high degree of leverage can act both against you and in your favor.
