Future Predictions on GUContinuation for the short positions, until price reaches the weekly rejections. We should see alot of bullish momentum in the near future. OR we can potential see a weekend market gap and straight bullish momentum.
Marketanalysis
Nasdaq now at 9093 - Fractal Pattern Target Below 5000Nasdaq appears to forming a larger expanding Fractal Pattern that projects a big drop on this market in the coming weeks.
The current larger move up from the low matches almost perfectly the previous 7 wave final up move that preceded the top. Although this is not financial advice, it might be wise to look for sell signals or lighten up any long stock holdings to preserve your cash.
Good fortune in your trading!
XRPUSD BITMEX - DAILY CHARTLooking at the DAILY chart for XRPUSD on Bitmex, I've noticed the following during this big sell off;
1) Breakout from Uptrend in process, more clear once close on DAILY or even 4HR chart for confirmation (Reliable TF's)
2) Lower Highs have been made - waiting for Retest at next Lower High for a SHORT entry (2050 - 2150 Sats for entry point)
3) DAILY/4HR Candle close below Mid Boillinger Band (waiting for confirmation)
5) MacD & RSI looking like buyer exhaustion and sellers coming in
7) 2 scenario's: Full retrace between 1045 - 1200 sats or A Retrace to 61.80 or 78.60 Fib with a Breakout from Downtrend
Do your own research (TA), not financial advise - My thought process and what I will be doing.
TREND IS OUR FRIEND!!
Feed Back would be great.
ADAM20 Bitmex - 4hr ChartLooking at the 4HR chart for ADAM20 on Bitmex, I've noticed the following;
1) Fib retrace to 61.80% has occurred
2) Higher Low has been made
3) Downtrend line has been broken
4) 4HR Candle close above Mid Boillinger Band
5) Waiting for Higher Higher and Higher Low to be made
6) MacD & RSI looking like buyers are coming in
7) Potential for a nice full retrace to 620 sats if Uptrend continues
First chart published, feedback would be great.
EURUSD Bullish DivergenceEURUSD Bullish Divergence forming.
At 3pm GMT ECB President Lagarde Speaks
Wait until MACD signs cross entry, and stochastic cross the 20 Lvl
TP around the 1.099 Level
Short Nifty it can test the support levels..Though Sgx nifty is negative it does not mean market will open with very high gap tomorrow nifty opening is possible below 250-300 points tomorrow cmp- 9859
Weekly US Market Update | Week Ending on 1st of May 2020Hello everybody! Welcome to another episode of Weekly Market Update. Let's get started with the performance of the major indexes of Wall Street for the week ending on 1st of May 2020.
The Dow Jones Industrial Average closed on Friday with a loss of 2.55%, losing 622.03 points and closing at 23723.69. On a weekly basis the Dow Jones had a loss of 0.22% while from the start of the year it has a loss of 16.87%.
The S&P 500 closed on Friday with a loss of 2.81% losing 81.72 points and closing at 2830.71 points. For the week the S&P 500 had a loss of 0.21% while it's YTD performance is -12.38%.
The NASDAQ Composite Index closed on Friday with a loss of 3.2% losing 284.6 points and closing at 8604.95. For the week it was down 0.34% while from the first of the year it is only 4.1% down. As you can see the NASDAQ composite has better performance than the other two major indexes.
The current market outlook right now is that we are on an UPTREND. An Uptrend that was confirmed on 2nd of April 2020, the date that we had our follow through day. A follow through day is a day of a new rally between 4th and 7th day with a gain of 1% at least and volume higher than the previous day. On 28th of April we had a distribution day on both Nasdaq and SP500. A distribution day is a day when a major Index falls 0.2% or more with volume higher than the previous day.
So we have 1 distribution day for the Nasdaq and 1 distribution day for the SP500. A lot of distribution days on a short term means weakness for the rally.
Nasdaq broke the Trendline Support (2). Personally I wouldn't be afraid if we have a pullback at our Trendline Support (1) and then the markets continue up. If this happens, it's normal. If it breaks the Trendline Support (1), more downside will happen. But the Friday's Candlestick shows that the market will fall a little more.
We remain on an UPTREND right now and we have to see if it will break the Trendline Support (1). As long as we are above the Trendline Support (1) we are ok.
See you next week for another Weekly Market Update!
POUND DOLLAR MARKET REVIEW (POST-MORTEM)Hi Traders! Before the market close this week, we can see strong bullish bias on the price action. But that's a good news for sell opportunity due to price already touched QML level and we have a fakeout signal which we can expect the price will slightly bearish next week. However, if the price break 1.26441, might be it will break our resistance level previous high and possible to make highest high. So let's take a break for public holidays and enjoy our time with family. We battle again next week!
S&P 500 - anticipate up thrust with a short setup27 Apr 2020 recap - on the daily chart, S&P 500 continued to edge higher with decreasing spread and slightly lower volume compared to last Friday's session. During the last hour, it attempted to test the swing high at 2885 but was rejected and closed at 2869, which is inline with my daily market analysis from yesterday. Feel free to check out my market analysis from yesterday below:
Despite the up wave since 22 Apr is laborious, the low supply level does not provide confirmation for short sellers to jump in. Nevertheless, S&P 500 futures reach the resistance level near the swing high at 2885 and it should unfold itself soon.
Bias - down
Key levels - Resistance: 2885 (swing high), 2915 Support: 2840, 2800, 2750
Potential setup - An up thrust or a test of the day high/non-RTH high should provide a good short entry. Else a commit below 2840 with a weak rally up should see continuation of the down swing to test the support at low levels.
GBPUSD nextweek forecast We have a bullish candles on bigger time-frames. Look for break up on H1 time frame Entry .
CadChf Long term buy opportunityCadChf has made an exhausting push down and looks like it has lost its momentum......im expecting a retest to a strong resistance level where it might continue its downward movement from there....plz share your ideas so we can confirm this analysis :)
EURUSD LONG IDEA 1.09705 +0.6%EURUSD PLAYED OUT AS THOUGHT OUT BOUNCING AT 50% FIB LEVEL RETESTING THE PREVIOUSE SUPPORT LEVEL, NOW MOMENTUM TO THE UPSIDE IS BEGINNING TO RISE AND MAY GO IN THE FAVOR OF THE PREVIOSE IDEA ON THE EURO...
EURUSD SHORT
TP 1 - LEVEL 1.30441
TP 2 - LEVEL 1.10944
STOP LOSS - OPEN OF THE CURRENT CANDLE / RISK MANAGEMENT
PERIOD - SWING
GBPJPY long term bearish downtrend continuation.Lets explore the possibility of a continued downtrend.
we can see gbpjpy making lower lows as it drops further and further down....but will this continue? Lets explore the possibilities. (plz share your thoughts in the comments....it would be nice if we can start a debate :)
There is bearish divergence since the start of this bullish move.....
There is a strong resistance level which has not yet been broken and looks like price has rejected.
Corona Virus in Britain not looking good ( could cause economic issues)
Overall I don't think gbpjpy can continue pushing up any further But plz shae your ideas in the comments...lets decide together what the most likely scenario.
GBPUSD SHORT SET UPGbpUsd has made a strong push up and is in a phase of consolidation. I strongly fell the market will reverse from here...
and anyways I don't think the situation in Britain in regards to this Covid-19 is getting any better so it might be a good idea to hold long term gbp sells
BTCUSD- the return of bulls or a dead cat bounce ?Hello, my fellow traders,
On Thursday, April 2, BTC finally made a break out of the $6,900-$7,000 zone after moving above the ascending triangle on the daily chart. The coin peaked at $7,235, but in the later hours of trading, bulls lost momentum and were rejected while being forced to drop back to the upper (horizontal) side of the triangle, around $6,800. Bitcoin still managed to close with a 2.5 increase.
In the early hours of trading on Friday, April 3, we are seeing BTCUSD trading above the resistance line, or near $6,930, so the current strategy remains the same as before - we definitely need a daily candle to close above the $6,900-$7,000 corridor in order to confirm a reverse to the upside.
On the 1-hour chart, there was a period of sideways consolidation near the $6,800 line since yesterday evening, which resulted in a break to $6,900 in the early morning today. BTC is currently trading above all major slow and fast EMAs including 100-day and 200-day.
The leading cryptocurrency ended the month of March with a 25 percent loss, which is truly bad speaking from a macro perspective. On the other hand, on both weekly and monthly timeframes, we see $7,000 as a remarkably important line on the way up. Next for bulls will be to fill the gap to $7,700.
Weekly
Monthly
The 24-hour trading volumes increased from $30 billion on Monday morning up to $36 billion on Tuesday, then fell back to $30 billion on Wednesday, which perfectly matched the short-lived bull run. They started to pick up on Thursday and reached a week high at $50 billion on Friday morning.
The RSI indicator is already seeing values above the buy zone on the 1h chart, but still, it is far away from the peak registered yesterday and on March 17 when we saw the coin peaking at $7,150-$7,250.
Personally, I plan to add some positions here, but not too much as the bullish case on this setup is not from the book meaning that I'd rather expect to see the upward move first with a confirmation on the daily chart instead of trading sporadic impulses on the hourly.
ETHUSD - are bears leading us to a trap ?The Ethereum Project token ETH registered a drop to $131, on the last day of the workweek, March 27 following the example of Bitcoin that suffered a major correction the same day. Buyers were still unable to initiate a move towards the important psychological level at $150 and bears were ready to exploit their weakness by making another attempt on the $120 line.
The weekend started with a relatively calm session on Saturday. The ETH token continued to hover around $131.
On Sunday, March 29, it made one step down and closed the week at $123 with 1.6 percent of price increase for the period.
What we saw on Monday, March 30, was a perfect rebound from the lower end of the short-term uptrend channel. The ETH/USD pair added 7.3 percent to its value and once again moved above the fast 20-day EMA.
In the early hours of trading on Tuesday, the leading altcoin is looking to extend its gains and climb up to $140. Only a break above $150, however, will allow us to finally speak about the return of bulls in the midterm. At this very moment, we are seeing some green on the chart, true, but on the other hand, we are still ranging in the $120 -$150 zone for 3 weeks already.
Trading volumes remain stable and continue to hover around $8-$10 billion since Saturday.
On the 1-h chart, we are already seeing a rising wedge formation with a combination of declining momentum.
Altcoin market update + XRPUSDThe consolidated chart for the Top 10 biggest cryptocurrencies in terms of market capitalization (excluding BTC) shows us that the bear flag on the daily chart resulted in a drop to $530 where we found temporary support (actually a relatively stable horizontal S/R line). What we need here is for the price rebound from that level and surpass $610. As you can see on the chart, this level was a solid resistance in the past and it took some time before bulls break it after the last major drop registered on September 24, 2019.
The total market cap for the leading altcoins remained almost flat for the seven-day period, loosing "just" $1.5 billion down to $63.1 at the time of writing.
The Ripple company token XRP corrected its price to $0.172 on Friday, March 27 after buyers failed to capitalize on their previous attack of the $0.19 level, and were brought back down at the end of the session.
The weekend of March 28-29 started with a similar move, but in the opposite direction and the “ripple” regained its position around $0.175. On Sunday, it experienced a hard drop to $0.162 and closed the seven-day period 10 percent higher.
The XRP/USD pair opened the new trading period on Monday, March 30 by climbing up to $0.171. The coin is slowly but surely making its way up, step by step. A move in the zone above $0.18-$0.185 will set the ground for an attack of the $0.23. The $0.185 line is also coinciding with the Fibonacci retracement 23.60 line, which may serve as an endpoint.
In terms of trading volumes, they dropped from $2.7 billion on Saturday to $1.7 on Sunday evening, which resulted in a 37 percent decline. We saw a partial recovery on Monday and Tuesday with the 24-h volumes hovering around $1.9 - $2.1 billion.
Looking at the 1-h chart, no surprises as we are following the path down the very stable downtrend channel...
Bitcoin BTCUSD - is a fall below $5,500 imminent ?Hi guys,
I hope you had a good and sunny weekend no matter where you are right now. A little sun is sometimes more than enough to lift our spirit and make us feel better in these crazy days...
Bitcoin, on the other hand, just cannot have a break - it continues to struggle to find its direction and neither bulls nor bears are ready to forfeit the game.
The Friday session brought some serious troubles for bulls. BTC erased 5.6 percent of its value and dropped down to $6,383. The bear flag that was in the making since March 12 resulted in a heavy correction. The ever-declining volumes in combination with the stability of the $6,900-$7,000 resistance zone made it impossible for Bitcoin to progress further.
The first day of the weekend came with a second consecutive red candle. BTC/USD lost even more ground and closed the day at $6,257 after touching $6,032 during intraday. On Sunday, March 29, it continued the freefall reaching $5,865. The coin was 1 percent up for the week.
What we are seeing on Monday is a very different picture - the leading cryptocurrency avoided a drop to $5,500 and successfully recovered its position above $6,000 and the fast 20-day EMA. It is currently trading at $6,317 and it is the $6,400 zone we are actively monitoring as it proofed to be a major S/R line recently.
Additionally, the RSI index jumped back up from the sell zone today morning. What is surprising me is that there is no obvious trigger for the bullish momentum we are observing - the European stocks market is relatively flat and Oil is loosing, even more, ground on the first day of trading.
24-h trading volumes started dropping over the weekend and reached $24 billion on Monday morning after losing 30 percent of its power. As of the time of writing, they have recovered to the values registered on Sunday - $33-$34 billion.
On the 1h chart, BTC is once again trading above the 200-day EMA but failed to break above $6,400 in its first attempt, which resulted in a small dump in price and a return to the downtrend corridor.
Tomorrow we will once again take a closer look at the altcoin market and the leading coins...
Hold onto your seats... Critical point for MSFTLet's see what happens Monday/Tuesday in the markets. MSFT is still up 26.7% in the last year (despite Coronavirus selloff) - it should not be considered cheap with current P/E ratio: 26 (down from P/E ratio: 32 in February). Terrific company with a lot of prospects going forward but there is much better value to be had elsewhere in the market right now. MSFT is not immune to the Coronavirus fallout - they've revised estimates and admitted supply chain problems which will continue to affect the company through the end of the year. Be patient with MSFT, we may get a better buying opportunity soon. HOLD OFF AND LOOK FOR BUYING OPPORTUNITY IN THE NEAR FUTURE
Coronavirus will hit hard... Must be patient with AppleWould I buy Apple right now? Not yet. Coronavirus will have a major impact - murmurs of iPhone12 delays and supply chain pinch. However, there is no question Apple's strong cash balance (exceeding $200Bn) will push them through this crisis. It's important to note that Apple shouldn't be considered cheap quite yet (current P/E ratio: 19.39 -> down from P/E ratio: 25.67 in February). It's Cheaper but I'd look for it to come down to near $220 before I build my position. BE CAUTIOUS, BE PATIENT, AND THEN BUY
BTC Trend Forecast 27/03BTC has found a good support over the past few days.
Looking back at the period November 2019 - February 2020, its value experienced a few ups and downs before entering a bullish trend, represented in my chart with an ascending triangle.
Considering also the comparison between the current and the past behaviour for both MACD and RSI, there could be a similar development in how the value will progress.
If BTC value were to break the support and enter a bearish phase in the next week, followed by a recovery bullish one, it may be a strong signal for the market of a trend repetition.
In that case, we would observe a strongly bullish path for BTC over a sustained period of time.
What about the market scenario?
What is happening according to many exchanges is that there is a great inflow of new users, probably due to the great reduction in value that both BTC and other Cryptos have experienced. These users are entering the market, probably looking for easy profit, meaning that if BTC would actually be bullish for a certain period they would be likely to cash out leading the bullish trend to an end. This would cause a drop in value and bring the market to face a new challenge in finding its stability.
What do you think?
