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Elliott Wave DemonstrationDemonstration of Elliott Wave Principles using Bitcoin chart: Rules: Wave 2 never goes below end of Wave 1 => checked Wave 3 is not the shortest of Wave 1, 3 and 5 => checked Wave 4 never goes below end of Wave 1 => checked Guidelines: Guideline of Alternation: Wave 2 and 4 alternates in form (sharp vs sideways), retracement (shallow vs deep) and duration (long vs short) => checked Guideline of Wave Equality: Two out of three waves (1,3 and 5) tend to be equal in length and duration, Wave 1 and 5 meeting this guideline => checked Momentum is highest during end of wave 3, end of Wave 5 normally creates divergence with price => checked Volume during Wave 3 is normally the highest amongst Wave 1,3 and 5 Relations with Fib ratios: Wave 2 retraced Wave 1 by 78.6% (deep) Wave 3 was equal to 261.8% of Wave 1 (longest) Wave 4 retraced Wave 3 by 38.2% (shallow) Wave 5 was equal to 100% of Wave 1 (Guideline of Wave equality)
INDEX:BTCUSDEducation
by MalayKJ
Dogecoin On The Rise!! .. But For How High??Here I have Dogecoin on the Daily Chart! Starting with Technical Analysis: Since its visit at the High in Dec. 2023 (.0945 - .1020) Support Zone, Dogecoin has had quite the Bullish Run! Currently this rally is being halted @ .1363 as Price is testing not only the (.1280 - .1440) Resistance Zone but the Falling Resistance based off the Highs in March & May! If price is able to overcome these obstacles .. What lies in wait?? ..Previous Highs 1) Price will have to contend with the (.1700 - .1800) Resistance Zone 2) Price will have to contend with the (.1990 - .2200) Resistance Zone .. After that, well lets just focus on the here and now *Based on the bearish pressure Dogecoin is facing considering on the Daily, Price is hitting Resistance Bollinger Bands, we could see a drop to the down side to test the (.1280 - .1300) area this rally was able to Break IF the Falling Resistance is able to Hold Price Below it's current High @ .1363. *IF this drop is contained by the (.1280 - .1300) area and price is able to stay relatively above the 200 EMA, this could be good indication of Bulls in the area ready to push price higher! Now Fundamentals There's already been a lot of hype on the cryptocurrency for those who follow the fundamental side of trading with the ENOROMOUS transaction made with said currency: www.tradingview.com Along with the strong boost to cryptocurrency by the "Pro-crypto stance under Donald Trump's Leadership - should he win - will further fuel enthusiasm." www.tradingview.com *I currently hold 107 Dogecoins but could be looking to add very soon -Stay Tuned!
BINANCE:DOGEUSDLong
by Novi_Fibonacci
2
VERY BULLISH ON FTM. Do Not Miss!High Time Frame POC tapped, Weekly level tapped, previous daily high broken, RSI Oversold, Double bottom pattern, high volume node above (Target) 22% away. Chart looks bullish long term. Calculate Your Risk/Reward so you don't lose more than 1% of your account per trade. Every day the charts provide new information. You have to adjust or get REKT. Love it or hate it, hit that thumbs up and share your thoughts below! This is not financial advice. This is for educational purposes only.
by Navitility
StormX (STMX)On the above 4-day chart price action has corrected over 90% since the sell signal(not shown). Today is great long opportunity. Why? 1) You know why. 2) RSI and price action resistance breakout. 3) Strong bullish divergence. Multiple oscillators print positive divergence with price action over an extended period. Is it possible price action falls further? Sure. Is it probable? No. Ww Type: trade Risk: <=6% of portfolio Timeframe: Now, don’t sit on your hands. Return: Will say elsewhere
Long
by without_worries
15
NKN - 100x opportunityOn the above 1-day chart price action has corrected 95% since April 2021. A number of reasons now exist to be long, including: 1) The ‘incredible buy’ signal. 2) Broken price action and RSI resistance. 3) Price action is testing past resistance (green line), look at the weekly chart below. 4) Price action has corrected to the golden ratio (see weekly chart below). 5) Nudge nudge wink wink. Don’t know what I mean? Shame. Is it possible price action falls further? Sure. Is it probable? no. Ww Type: trade Risk: <=6% of portfolio Timeframe: don’t know. Return: $8 or 100x Weekly chart 3-day BTC pair
Long
by without_worries
73
$SPY July 26, 2024AMEX:SPY July 26, 2024 15 Minutes. The short below 549 worked out well. Oscillator divergence around 555 to 565 played out well in 15 minutes. Noe considering the move 565 to 546 to 556 we can expect 528 as target being 1.618 level for this move. However, 535-536 is 200 averages in 3-hour time frame, hence that will be the first target. And in 15 minutes we had a divergence between 543 and 537. So, a pullback to 547 was done. That move retraced nearly 50% for the fall 556 to 537. At the moment we have sell on rise probably until 553 is crossed being 200 averages as of now. So, for the day due to oscillator divergence in place i will not short. If there is a retracement to 544 levels depending on parameters i might take a call. Finally for the rise 493 to 566 AMEX:SPY has retraced 38.2% being 537 levels. 50% retracement would be 529 levels. Hence for the moment 528-530 is important level on downside.
AMEX:SPY
by RiderTrader
QQQ Intraday $100 to $2500 with options RECAPQQQ is shown here on the 15 minute time frame. Overlaid are a HMA 7 and SMA 5 to provide moving average crosses. QQQ made a "M" pattern. Options charts are shown in the updates. First Trade SQQQ is opened at 9:48 for $ 6.00 per call contract times 16 contracts. It is closed at 10:05 less than 20 minutes later at $20.00 per contract. $96 dollars the only risk in the trade is waiting to settle as is the $ 224.00 in profit. ( This is a same day expiration intraday trade) Second Trade QQQ as QQQ has topped and is pivoting down. The second trade of the day is not a same day expiration as it is now Friday afternoon, a put option in the direction of the trend is taken for Tuesday the 20th, there being no puts for the Monday holiday. The floating profit is $ 224 and the strike is set for below the money in the current direction of the trend. A strike of $ 429 selected. The options chart is shown in the updates. The premium was 0.37 so $37 per contract so six contracts were taken for a total of which is $222 or slightly less than the profit on the first trade. The trade is taken at 14:47 market time and closed about 90 minutes later at 15:52 before the close. The contracts sold at close for $ 1.41 each yielding $ 141 per contract or $ 2256 overall. Between the two trades $100 was risked and $ 233 + 2256 or 2489 overall. The Reward to Risk ratio was about 25. The profit and the initial $100 into the trades awaits settlement after the holiday. This trade was made to teach a mentee about the power of options leveraged with narrow expirations to optimize profits and not spend a lot of time in the trade to minimize risk in the market from any number of potentials. Alerts and notifications centered on moving averages and rise or fall of intraday low time frame relative strength are used to lessen screen time. Twenty baggers may not be everyday but then again with practice and patience they can come along often enough.
NASDAQ:QQQ
by AwesomeAvani
BASF - An Investment pick with more than 70% ROI.The stock has been in an up trend. It has broken its all time high in 2021 and in good consolidation for 2 years and broken out of consolidation now. It has broken out of a bullish flag and pole pattern / falling channel pattern in a 3 M timeframe. One may also consider this for a swing opportunity , RSI intact in all time frames. Weekly price action shows, that the stock has broken out of falling channel, retested and reversed Consolidated for 7 weeks. Weekly RSI took support at 60 and bounced. Looks ready for a swing. SL - Previous week low at 3155. Target 1 - all time high, 3880.
NSE:BASFLong
by Rugminik
5
Health Care ETF May Have Broken OutMany observers have spoken recently about market rotation. They often cite money shifting from megacaps to small caps. But another forgotten sector could be benefiting as well: healthcare. The first pattern on today’s chart of the SPDR Select Sector Health Care ETF is the June 24 close of $147.09. XLV was trapped below this approximate level since late February, but crossed above it earlier in July. Prices are bouncing after retesting it last week. Has old resistance become new support? Second, you have a series of higher weekly lows since mid-April. Those may reflect accumulation by long-term investors. Third, prices are near the 50- and 100-day simple moving averages (SMAs). Both SMAs are also near each other, which may create potential for price expansion. Finally, MACD recently tuned positive. Standardized Performances for the ETF mentioned above: SPDR Select Sector Health Care ETF (XLV) 1-year: +9.81% 5-years: +58.70% 10-year: +142.80% (As of June 28, 2024) Performance data shown reflects past performance and is no guarantee of future performance. The information provided is not meant to predict or project the performance of a specific investment or investment strategy and current performance may be lower or higher than the performance data shown. Accordingly, this information should not be relied upon when making an investment decision. TradeStation has, for decades, advanced the trading industry, providing access to stocks, options and futures. See our Overview for more. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options or futures); therefore, you should not invest or risk money that you cannot afford to lose. Online trading is not suitable for all investors. View the document titled Characteristics and Risks of Standardized Options at www.TradeStation.com . Before trading any asset class, customers must read the relevant risk disclosure statements on www.TradeStation.com . System access and trade placement and execution may be delayed or fail due to market volatility and volume, quote delays, system and software errors, Internet traffic, outages and other factors. Securities and futures trading is offered to self-directed customers by TradeStation Securities, Inc., a broker-dealer registered with the Securities and Exchange Commission and a futures commission merchant licensed with the Commodity Futures Trading Commission). TradeStation Securities is a member of the Financial Industry Regulatory Authority, the National Futures Association, and a number of exchanges. TradeStation Securities, Inc. and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., both operating, and providing products and services, under the TradeStation brand and trademark. When applying for, or purchasing, accounts, subscriptions, products and services, it is important that you know which company you will be dealing with. Visit www.TradeStation.com for further important information explaining what this means. Exchange Traded Funds ("ETFs") are subject to management fees and other expenses. Before making investment decisions, investors should carefully read information found in the prospectus or summary prospectus, if available, including investment objectives, risks, charges, and expenses. Click here to find the prospectus.
AMEX:XLV
by TradeStation
Bearish Signals on the S&P 500Despite recently reaching an all-time high of 5,669, the S&P 500's monthly chart is on track to end July with a bearish shooting star candlestick pattern, snapping a two-month bullish phase. Follow-through selling on the chart could see the unit trade as far south as support at 4,776. Meanwhile, on the weekly chart, last week ended in a bearish engulfing candlestick pattern (which focusses on real bodies, not upper and lower shadows), with the market index down -1.4% week to date. Channel resistance-turned-support extended from the high of 4,607, coupled with support coming in at 5,264, calls for attention as the next layer of support. Therefore, in addition to monthly and weekly charts showing negative divergences from the Relative Strength Index (RSI), chart studies demonstrate the scope to press lower until connecting with weekly support around 5,300.
SP:SPXShort
by FPMarkets
BurgerCities (BURGER) to $17On the above 6-day chart price action has corrected 97% since May 2021. A number of reasons now exist to take a long position, including: 1) Price action and RSI resistance breakouts. 2) Price action prints support on past resistance confirming the trend reversal. 3) The falling wedge breakout forecasts a 4000% move to $17. Is it possible price action corrects further? Sure. Is it probable? No. Ww Type: trade Risk: <=6% Timeframe for long: this week Return: 4000%
Long
by without_worries
26
FORD - ICE predominates EV falters LONGFord has scaled back its EV ambitions in consideration of the marketplace while TSLA drops its price in the Eurozone and falls into less than first place in the China EV market. Ford's F-150 truck continues to dominate GM and the others in North America. On the 4H chart, first a price uptrend and then retrace to the 0.5 Fib level and a reverse into a new trend up. A pair of EMAs shows an impending golden cross also suggested by the zero lag MACD. The two RSI lines ( 60 minutes and 480 minutes fast and slow) are rising and about to cross the 50 level. I see this as a long entry for Ford. Targets based on major pivots in 2023 are 13 and 14.25
NYSE:FLong
by AwesomeAvani
Possible long on CADJPY next weekWhen a currency breaks outside the channel and then changes color, it signals a reversal in strength/trend. By waiting for this to happen to two currencies during the same candle, an entry signal is created (CAD=red, JPY=white) The current trend has not ended, however. Based on previous data, it looks like it will take 3-4 more candles for the CAD and JPY lines to change color outside the channel, signaling the CADJPY pair to reverse into a bullish direction. I am projecting 3 days of forward ATR against the previous candle's bodys low (I prefer measuring this rather than the high/low wicks), to get a price range of 111.738 to 116.446 over the next week. Based on today's current price, it puts the lower end to 113.189, which is also about 1x ATR from yesterday's open, so it "lines up" in that sense. We'll probably have confirmation to go long around Wednesday of next week! Good luck on your trades Note: Here is the indicator in action for the last 4 months. Over the last 4 months, it would have been accurate 5 out of 6 times (83%), with small wins each time (and possibly one big win), depending on your trade entry and how you manage your trades:
Long
by KyleBaran
Upcoming short/reversal on GBPNZD in the next few daysMy FICO indicator works by making a DXY-like index for each currency, then plotting their rate of change on an oscillator to show relative strength/weakness. When two currencies are on opposite ends and change directions, it is an entry signal. In this case, GBP (dull green, top) and NZD (lime green, bottom) are on opposite sides of the oscillator channel. The directional flip has not happened yet, but it is inevitable. We must wait for this to confirm first, since the current trend still has momentum. I estimate it could take about 3 days for the trend to finish, and over that time, price could visit anywhere in the 2.12556 to 2.16300 level. Once we enter, we'll target about 1080 pips short and let the trend ride in our favor. This can change depending on what the price actually does in the next week and is also based on current values.
Short
by KyleBaran
3
Possible short on EURCHF for next weekI have been working on my own indicator called FICO (FX Index Curve Oscillator). It seems to perform well in backtesting and as a way to engage in forward testing, I am posting this idea. Basically it works by making our own DXY-like index for each currency, then plotting its rate of change. By looking at relative strength and weakness with each one, we can find pairs and direction to trade. Using this indicator, it shows that the EUR is about to flip negative, and the CHF is about to flip positive. Therefore, we want to short EURCHF to be on the right side of both of these tickers. But we're not there quite yet. We need another candle or two for the confirmation to happen (eg we might get another green candle with a large wick) so we don't want to enter yet and risk getting stopped out. If the trade works out exactly as planned (eg entry at 0.97719 and hits 4x ATR level), then this trade would be worth 180 pips. Let's find out next week!
Short
by KyleBaran
4
AUD/JPY the most oversold since the pandemic plungeYou don’t see unwinds of Japanese yen carry trades like we’re seeing right now outside of crisis periods. It doesn’t feel like we’re in a crisis, making me wonder just how long the current bearish move will last? AUD/JPY has been among largest casualties, hammered lower by a combination of China pessimism, large declines on Wall Street and narrowing yield differentials between the United States and Japan. I discussed a short setup in AUD/JPY yesterday, but such has the speed of the unwind been it’s nearly reached the target after falling more than 150 points, extending the decline from the recent peak to over eight big figures. While I think there’s more downside to come, it’s rare for such a liquid FX pair to so sharply in one direction for a sustained period. Even during my time on the desk during the height of the GFC, we saw massive countertrend rallies during what ended up being the largest carry trade unwind on record. As such, when the market provides the signal, I’m positioning for a bounce with the help of long-running uptrend support which is located just 40 pips below where AUD/JPY currently trades. Should it hold, or if the market is unwilling to test it in early Asian trade, buying with a tight stop around 100.60 is one setup, allowing traders to target a push back towards horizontal support at 102.64. To put in context just how oversold AUD/JPY is, on RSI (14), you have to go back to the initial panic at the start of the pandemic to find a similar reading. DS
Long
by FOREXcom
GBP/USD to Track 100-MA Slope? GBP/USD to Track 100-MA Slope? On Wednesday, GBP/USD traders will focus on the UK's July Manufacturing and Services PMI, expected to show slight increases. Although, more significant events will come from the U.S., including the annualized Q2 2024 GDP and the PCE Price Index. The Fed's preferred inflation gauge likely cooled in June, suggesting its efforts to curb prices are working, potentially paving the way for rate cuts in September. Markets expect the Fed to maintain the federal funds rate next week but anticipate a cut in September, according to the CME Group's FedWatch tool. GBP/USD extends the decline from the monthly high (1.3045), pulling the Relative Strength Index (RSI) back from overbought territory. It found support after briefly easing below 1.29 and may track the positive slope in the 100-period SMA.
by BlackBull_Markets