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SPX and NQ - are we there already?I am cautiously optimistic that the the correction that started since mid July could be finally over and we could begin to see more ups rather than downs going into the final 2 months of this year. SPX did come very close to its H&S target while NQ was 4% shy of its H&S "target" (close enough though!) before we had a bullish reversal this week. One could still argue that this could just yet another "sucker's rally" (aka bull trap) that we have seen numerous times in the past 3.5 months. However, there are a few factors that gave hope for medium term bullish bias this time: 1. A pretty bullish (large body with almost no wicks) weekly reversal candle, though still in the making for this week 2. Both SPX's and NDX's Weekly RSI could be breaking out of their downward trendline, which often could be an "early" signal of strength in the coming weeks. Non-technical aspects: 3. More earnings announced this week have been beating market expectations and their stocks are now bouncing off a lower base. 4. Fed announcing a pause in in interest rate hike yesterday. That said, we still need to see the indices breaking above their strong trendline resistences (shown in Red) for a confirmation that the "correction" could be over, plus there is always a chance that the trend going forward could remain sluggish despite no longer "bearish". Let's see! Disclaimer: This is just my own analysis and opinion for discussion and is NOT a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management (ie trailing stop loss and position sizing) is (probably the most) important! Take care and Good Luck!
NASDAQ:NDXLong
by Juliac
How we have been trading EURUSD D1How we have been trading EURUSD D1 (Daily chart) with our indicators + hand-drawn trend lines. After 10 years of R&D (we have been testing different indicators every day for a decade), we have developed our own Suite of 26 indicators. Here are just a few of them. Indicators names (from top to bottom): - Strength Shows the strength of the market, the direction, pullbacks, equilibrium, and flats. - Bear&Bull Powers Shows the battle between the bears and the bulls. - Angle Indicates the direction and angle of the trend and the pullbacks. - Template Our main central indicator simplifying charts and bringing clarity. - Steepness Displays how steep the trend is and comments: Going Up/Down | Trending | Strong/Weak | Pulling Back | Retracement | Flat | 75% Blue Background | ... - Odds 11 indicators calculating the odds. - Probability 75 indicators calculating the probabilities.
by ascension
How we have been trading Bitcoin D1How we have been trading Bitcoin (Daily chart) with our indicators + hand-drawn trend lines. After 10 years of R&D (we have been testing different indicators every day for a decade), we have developed our own Suite of 26 indicators. Here are just a few of them. Indicators names (from top to bottom): - Strength Shows the strength of the market, the direction, pullbacks, equilibrium, and flats. - Bear&Bull Powers Shows the battle between the bears and the bulls. - Angle Indicates the direction and angle of the trend and the pullbacks. - Template Our main central indicator simplifying charts and bringing clarity. - Steepness Displays how steep the trend is and comments: Going Up/Down | Trending | Strong/Weak | Pulling Back | Retracement | Flat | 75% Blue Background | ... - Odds 11 indicators calculating the odds. - Probability 75 indicators calculating the probabilities.
BITSTAMP:BTCUSDEducation
by ascension
Super Swing Strategy - Bollinger Bands, RSI, and ADX Strategy"Super Swing Strategy" - Bollinger Bands, RSI, and ADX Strategy Indicators Used: - Bollinger Bands - Relative Strength Index (RSI) - Average Directional Index (ADX) Bollinger Bands for volatility, RSI for overbought and oversold conditions, and ADX for strength of the trend. How it Works: Add Bollinger Bands, a 14-period RSI, and a 14-period ADX to your chart. When the price touches the upper Bollinger Band, the RSI shows overbought conditions (above 70), and the ADX is above 20, it's a potential bearish signal. A bullish signal occurs when the price touches the lower Bollinger Band, the RSI shows oversold conditions (below 30), and the ADX is above 20. You can use additional indicators or price action analysis to confirm signals.
TVC:DXYEducation
by Bullwards
USDCHF - Retracement Complete? Possible Bullishness?Analysis: As we're clearly able to see price was in this downwards trend however we've recently broken out of that trend showing a market shift, indicating possible bullishness. Price tried to push higher over the last month but we've since seen price pullback to the area where price broke out of and we expect that this will be a key level which will hold as support and price will continue its upwards reversal. To add to our idea at this level we also have the 61.8% fib level which is often regarded as the most important fib level as it's the one that is respected the most often, so this gives us more confluence to be long, especially from this area. Fundamentally as well the USD is the 2nd strongest major currency where as the CHF is the 5th strongest major currency so fundamentally this already favours our idea. Looking further though we've seen a decrease in long positions on the USD but we saw an even bigger decrease on short positions for the USD by institutions signalling again that there could be more bullishness for the USD to come. The CHF on the other hand had a huge decrease in long positions and an increase in short positions by institutions so this is telling us that we don't want to be going long on the CHF. Institutions have access to a lot more data then retail traders so if they are shorting a currency then there is usually a good reason behind it that the retail traders may not see. Institutions are also the "big money" in the markets so going against the "market movers" is a difficult game to win which is why we take into account institutional positioning. Overall we have a technical and a fundamental bias to be going long on USDCHF which is why we have a bullish bias. Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read. We appreciate it all. Stay Safe - JPI Disclaimer: This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does to. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
Long
by jpeacockfx
53
TSLA - turned the corner?TSLA had been on a wild ride down since peaking on 4th Nov 2021, with many strong bear rallies in between. It finally hit the bottom on 6th Jan this year and began a rather strong rally until early Feb where it started to churn violently for the next 2.5 months, shaking out any weak bulls. A sustainable rally emerged again from 27 Apr and more signs have been emerging that the longer term trend have changed to bullish (short term pullbacks not withstanding): 1. a close above the 200 day moving average on 31 May and continued to propel higher for more than a week now 2. a break above a longer-term neckline in the region of 200-215 this week and 3. RSI line on it's MONTHLY chart has crossed above the 14 SMA line (signifying the likely emergence of a longer-term bullish trend). However, TSLA has been traditionally a volatile stock, hence it is safer to wait some dips to go long. Any retracements in the near term should preferably not breach the neckline support (200 - 215), although it is not up to us to decide how far it would pull-back . Wait to see the stock finding possible support (after a retracement) to go long (with stop loss below the most recent pivot low). Disclaimer: Just my 2 cents and not a trade advice. I may have an opinion but I do not hope. Cut loss (sooner rather than later) and move on if wrong. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
NASDAQ:TSLALong
by Juliac
CHFJPY - New Highs Being Formed!!!Analysis: As we can see from price action we're in a clear upwards trend, price is forming higher highs and higher lows which confirms the trend direction. We've seen price break above a previous high and now we're retesting that area for support and we expect that it will hold. At this level we've got the 38.2% fib retracement level which we'd expect buyers to be sat at wanting to push price higher. Also at this level we've got an upwards trendline which has been respected recently, showing that it could be respected again. This pair is forming new highs which just shows the strength and bullish pressure we're seeing. Fundamentally the CHF ranks 5th out of all of the major currency pairs where as the JPY ranks 8th being the weakest major currency pair so this goes in our favour which is why we are bullish. Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read. We appreciate it all. Stay Safe - JPI Disclaimer: This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does to. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
Long
by jpeacockfx
22
NCR road to around 30The decline seen in the stock in April and early May was halted by the 30 level of the 14-day RSI (purple line) and better-than-expected news. Currently, it is on an upward trajectory, crossing the 50-day EMA (gray line) and retesting this level. This provides support for attempting to surpass the 200-day EMA (turquoise line) at around 25.5. The question is whether we can sustainably stay above it. In the first instance, the target price is $26, and if it successfully retests the 200-day moving average, it could strengthen up to $30 by the end of June. In the analysis, the yellow line represents the 20-day BB (Bollinger Bands).
NLong
by BostonTrendLab
Relative Strength Index/RSI Made SimpleThe RSI (Relative Strength Index) is like a tool that helps people who buy and sell stocks and other things to figure out how strong the price of something is. It works by looking at the prices of that thing over a certain period of time, like 14 days, and then putting those prices on a scale from 0 to 100. 🔸When the RSI is high, like over 70, it means the price has gone up a lot and might be too high. When the RSI is low, like under 30, it means the price has gone down a lot and might be too low. But just looking at the RSI by itself is not enough. While many traders do use the RSI to buy at the 30 level and sell above the 70 level, this is not the only way to use the indicator. (As shown below) 🔸The RSI should be used in conjunction with other technical indicators and fundamental analysis to make informed trading decisions. In fact, relying solely on these levels can lead to missed opportunities and suboptimal trading decisions. 🔸It's also worth noting that the RSI can be used to identify bullish and bearish trends. When the RSI is above 50, it is considered bullish, indicating that the market is trending upwards. When the RSI is below 50, it is considered bearish, indicating that the market is trending downwards. 🔸While the 70 and 30 levels are popular levels to buy and sell, traders can also use other points based on how price reacts at those levels. For example, if the RSI reaches 80, it may indicate an especially strong upward trend, while a drop to 20 may indicate an especially strong downward trend. Traders should use their own judgment and analysis to determine which levels are most appropriate for their trading strategy. You can also find that as the name suggest (Relative Strength) traders should look for levels in price action where there is a strong reaction and then check to see at what level on the RSI this occurred because it might happen again once we got to that RSI value. (As seen below ) So as you can see in the image above you do not need to wait for price to go to levels 80 or 20 in order to look for reactions you can look at how price has reacted at previous levels before and monitor those levels in the future. Finally lets talk about divergence. 🔸RSI divergence is a trading strategy that involves looking for differences between the movement of the price of an asset and the movement of the RSI indicator. When there is RSI divergence, it means that the price of an asset is moving in a different direction than the RSI indicator, which can signal a potential change in trend. There are two types of RSI divergence: bullish and bearish. Bullish divergence occurs when the price of an asset is making lower lows, but the RSI indicator is making higher lows. This can suggest that the price of the asset is oversold and may be due for a rebound. Conversely, bearish divergence occurs when the price of an asset is making higher highs, but the RSI indicator is making lower highs. This can suggest that the price of the asset is overbought and may be due for a correction. Traders can use RSI divergence to help them make trading decisions. For example, if they see bullish divergence, they may consider buying the asset, while if they see bearish divergence, they may consider selling the asset. However, traders should always use RSI divergence in conjunction with other technical indicators and fundamental analysis to make informed trading decisions. Example is shown below: 🔸Settings of the RSI: Traders can customize the settings of the RSI to suit their trading style and preferences. They can adjust the number of periods used in the calculation, which can range from as low as 2 to as high as 200 or more, depending on the timeframe being analyzed. In addition to the default settings, traders can also adjust the overbought and oversold levels of the RSI. By default, the RSI is considered overbought when it is above 70 and oversold when it is below 30. Traders can adjust these levels to suit their trading style and the specific asset being analyzed. Traders can also add other indicators on top of the RSI to help them analyze the market. For example, they may add a moving average to the RSI to help them identify trend direction and potential areas of support and resistance. ______________________________________________ Also keep in mind that the RSI can be used as a reversal tool and also a trend trading tool. For example, when the RSI reaches extreme levels of overbought or oversold, it can signal a potential reversal in the price trend. When the RSI reaches these levels, traders can look for other confirming indicators or price action to help them decide whether to enter a trade in the opposite direction. On the other hand, as a trend trading tool, traders can use the RSI to identify the strength of a trend and to help them decide when to enter or exit a trade. When the RSI is above 50, it can indicate a bullish trend, and when it is below 50, it can indicate a bearish trend. Traders can use the RSI to help them identify potential areas of support and resistance within the trend and to enter trades in the direction of the trend. It's important to note that traders should not rely solely on the RSI to make trading decisions. The RSI should be used in conjunction with other technical indicators, such as moving averages, and fundamental analysis to get a complete picture of the market. By using the RSI as both a reversal tool and a trend trading tool, traders can better identify potential trading opportunities and make more informed trading decisions.
Education
by ChristopherDownie
8
Watchlists of SPX Sector ComponentsUse RSC indicator to spot strong stocks in related sector. Useful watchlists of SPX sector components: AMEX:XRT : www.tradingview.com AMEX:XLY : www.tradingview.com AMEX:XLV : www.tradingview.com AMEX:XLU : www.tradingview.com AMEX:XLRE : www.tradingview.com AMEX:XLP : www.tradingview.com AMEX:XLK : www.tradingview.com AMEX:XLI : www.tradingview.com AMEX:XLF : www.tradingview.com AMEX:XLE : www.tradingview.com AMEX:XLC : www.tradingview.com AMEX:XLB : www.tradingview.com
NASDAQ:NVDA
by muyexi
LKQ - Hidden Divergence - BullishOn the chart of LKQ, we can see a forming ascending triangle and we can see hidden bullish divergence on daily timeframe. An ascending triangle is a bullish formation. The pattern gets validated when the price breaks out of the upside of the pattern. By using the Relative Strength Index we can hidden bullish divergence. A long position can be taken when the resistance of the triangle turns into a support. See all further details on the chart. Goodluck!
NASDAQ:LKQLong
by vf_investment
6
CROUSD - Oversold - Small PumpOn the 1h timeframe chart of Cronos (CROSUSD), we can see that the price is oversold. The indicators used are the Bollinger Bands, Relative Strength Index and Stochastics. All three indicators are identifying the same oversold condition. The price is approaching a support zone. Previously this support zone was strong resistance. So it's likely that the price is going to be supported. In combination with the oversold condition, it's a double confirmation for the price to increase. All further details are shown on the chart. Goodluck!
COINBASE:CROUSDLong
by vf_investment
1
ADAUSD - Upward move coming - 2023!It looks like Cardano it's going to start 2023 well. On the 4-hour timeframe chart(left), Cardano's price is showing Regular Bullish Divergence. The Divergence is indicated by the Relative Strength Index and the Stochastics. On the daily timeframe chart(right), Cardano's price is showing an Oversold condition. The Oversold conditions are indicated by the Bollinger Bands, Relative Strength Index, and Stochastics. Both charts complement each other. The new innovative plans for 2023 are in line with these ideas as well. Enter your long position only if/when the candle closes above the key level and confirms it as a support. All further details are shown on the charts. Good luck!
BITFINEX:ADAUSDLong
by vf_investment
10