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NZDJPY - AB=CD PatternOn the 1hourly chart, NZDJPY shows an AB=CD Pattern, this is not the usual harmonic pattern I will be trading, but why now? Well, on the 4-hourly chart there is a head and shoulders formation, having the long shadow candle close or some may know as pin-bar isn't enough for me to engage the trade. I'm using this as a trend following technique and I'll wait to engage the trade after 9am(+8GMT as I love to wait for the market to settle down from the market open volatility.
Short
by RaynLim
S&P 500 Due A Breather?The S&P 500 continues to trend well and has been making use of the 20 and 50 simple moving averages as support. On April 1st 2021, price finally broke above $4000 which was anticipated to be a potential strong level of resistance. Price broke through with ease, forming a linear move to the upside. A pullback is due as price has seen a nice move upwards, so some selling off is natural. We just need to identify levels of support price may come down to. We have the 20 simple moving average, the $4000 round number, followed by the 50 simple moving average. Whichever level acts as support is irrelevant, we just need to continue to see a pattern of higher highs and higher lows to confirm the uptrend is still in play. Overall, the stock market is bullish and we may well continue to see bull trends throughout the rest of the year. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
SP:SPXLong
by Sublime_Trading
Palladium 23 Points To Breakout!Palladium should not be ignored even if there are strong moves happening in other markets because this commodity has the potential to trend well long-term. The trend between January 2016 and February 2020 saw a 542% move to the upside allowing for the accumulation of simple profits during that period. As expected, price went into consolidation following such a strong move but within this consolidation period, price has slowly been climbing its way back up. On the weekly chart shown, we can clearly see that price has been using the 50 simple moving average as support to assist it in climbing higher. This week price came close to breaking out above the all-time high at $2875 by just 23 points, so there is good progress since our last post. If price eventually breaks out, we anticipate a strong trend in the direction of the breakout. We will also need to wait for a break and close above the $3000 round number which is a psychological level of support/resistance. Patience for now as we await that breakout. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
TVC:PALLADIUM
by Sublime_Trading
EUR/USD: Extending March gainsConsolidation around 1.2000 has given way to the anticipated break higher, with rising intraday studies prompting a break to the 1.2035 Fibonacci retracement. Daily readings are also positive, and weekly charts continue to improve, highlighting a more robust tone and extension of March gains towards the 1.2115 retracement. Meanwhile, support is raised to congestion around 1.2000 and should underpin any immediate setbacks. A close beneath here, however, would turn sentiment Neutral and put prices back into consolidation above 1.1943/50.
Long
by Continuum_Economics
Total Crypto Market Cap Excl. BTC Escalation 1 to 2 TRILLION1T Market Cap was reached violently, topped at 1,117T, in three weeks starting from 577B on March 25th. The option of an accumulation area at this level is now reasonable. February ATH 700B was followed by a month and a half of retracements and accumulation. Now the RSI is in overbought area as well as in February in the daily chart, but the weekly chart is still super bullish pointing directly to 1,25 T at least. I won't worry anyway, 'cause in 2026 the total crypto market is expected to rise to 11 Trillion by traditional investors...It might be far bigger.
CRYPTOCAP:TOTAL2
by Paolo-Brich
4
Ethereum Going Strong!Although Bitcoin is also creating new all-time highs, Ethereum is showing more momentum over the last few days. From December 2020 to February 2021, Ethereum moved up over 300% before going into a period of consolidation from February 2021 to earlier this month. The resistance for the consolidation zone was around the $2000 round number. Following a breakout to the upside, price retested this level as support briefly, before forming an impulsive bullish move which we are currently seeing. With $2000 now out of the way, we want to see price head towards $3000 and continue smashing its way through round numbers. As with all assets trends will not continue forever without forming a deep decline or a period of consolidation, so we can anticipate this along the way up. Like stocks, the cryptocurrency market is looking bullish and may continue for some time but we will look for early indications based on our proprietary tools to determine when the trend has come to an end. Until then, enjoy the trends and ensure you are managing positions well. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
BITSTAMP:ETHUSDLong
by Sublime_Trading
1
S&P Extends Gap With $4000!The journey to $4000 was a fairly smooth one from the start of this year and the S&P is now trading comfortably above this level. $4000 has now switched from resistance to support. We have seen a nice clean move to the upside over recent days, so we can expect to see a pullback before a continuation. Price has the 20 simple moving average which coincides with $4000 which may act as support. Beneath that we have the 50 simple moving average. The markets are looking strong at the moment and even the Nasdaq has caught up to the S&P and the Dow Jones. The Nasdaq was experiencing a deep pullback when the other two indices were creating record highs. With all the indices now aligned, we are anticipating a continuation of the trends through the rest of the year. The task now is to identify the strongest sectors and take only the high probability setups to increase the chances of entering into profitable positions. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
SP:SPXLong
by Sublime_Trading
1
Bitcoin Battling $50,000 & $60,000!The bull run has been consistent in Bitcoin, and price has formed some neat pullbacks along the way up using both the 20 & 50 simple moving averages as support. The most recent pullback came down to tag the 50 simple moving average before heading back to the upside. On the way up, price has started to slow down and may be starting to consolidate. The support and resistance levels are at the round numbers $50,000 and $60,000. Price at the moment is using the 20 simple moving average as support, and if this level holds strong, then we should see a nice push above $60,000 followed by the current all-time high at $61,781. Since breaking out of long-term consolidation in December 2020 at $19,666, price has risen 197% and counting. Back in 2017, when price came close to hitting $20,000, many speculated that this was the limit for Bitcoin but as is the case with any asset, you can never predict what will happen next. As technical trend followers, we make our decisions based on what price is doing and not what we think price is going to do, which many make the mistake of doing. Focus on price first, and at the moment, it is telling us that the trend is not yet over, so we could be seeing other round numbers being broken. A break and close above the all-time high will confirm a continuation of the bull trend. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
BITSTAMP:BTCUSDLong
by Sublime_Trading
$&P Clears $4000!The S&P 500 is now comfortably sailing above $4000, which we anticipated to potentially act as strong resistance. With price now above this level, we need to see what price will do next. Will price continue to trend upwards, or will price come down and find support at $4000 then move back up, or will price move back below this psychological round number? One thing is for sure right now, and that is price is bullish across the board, which is reinforced by the number of breakouts we are seeing on a weekly basis. From the low of March 2020, price has moved up 85% and has more than recovered from the 35% fall we experienced during the Covid pandemic peak in February and March 2020. With markets looking stronger than ever, we must stay on top of the best-looking stocks which we post in our weekly newsletter and in our free community. The next level of resistance we need to be concerned about is $5000, which is quite some distance away, so there is plenty of room to ride the trends. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
SP:SPXLong
by Sublime_Trading