Up 666%: Momentum Continues Amid Recent ListingsThe LOOM Network has been the center of attention in recent trading sessions, showcasing a bullish uptrend that's been particularly pronounced since September 19. After an impressive 509% price surge, LOOM is now trading around $0.2727. The listing announcements on LBANK and Binance futures platforms have likely contributed to this bullish trend, increasing the coin's visibility and trading volume.
The image below shows a 666% change since September 1:
Technical Insights:
Fibonacci Retracement: Without diving into the exact numbers, the fib retracement levels suggest that we've recently surpassed significant resistance levels, pointing to a potential continuation of the upward trajectory if momentum remains.
Ichimoku Cloud: The price action remains above the Ichimoku cloud, signaling a continued bullish sentiment.
Parabolic SAR: Currently, the dots are below the price, suggesting that the bulls are in control. This typically acts as a support level, signaling a potential continuation of the upward trend.
Bollinger Bands: Price action remains near the upper Bollinger Band, indicating strong bullish momentum. Traders should, however, be cautious of potential volatility.
Volume Oscillator: A positive plot suggests that buying pressure is currently outweighing selling pressure, further confirming the bullish trend.
MACD: The MACD line remains above the signal line, reinforcing the current bullish sentiment.
RSI: Though hovering around the overbought region, the high RSI suggests strong buying momentum.
Oscillators & Moving Averages: Oscillators are leaning towards a "Sell" signal, suggesting potential short-term pullbacks or consolidation. In contrast, the moving averages highlight a "Strong Buy" scenario, implying that the overall trend remains bullish.
Conclusion:
The technical indicators on the 4H chart, combined with recent news and developments around LOOM, suggest a continued bullish sentiment. While the oscillators hint at potential short-term pullbacks, the overall trend is promising. Traders are advised to keep an eye on key support and resistance levels, maintaining proper risk management practices given the inherent volatility of the crypto market.
Daytrading
Day Trader’s Post Market Analysis - Nifty BankNifty-13th Oct ’23Below mentioned points are discussed in my post analysis video(Fast forward to 0:39 for Hindi Audio)
-Gap Fill Done!
-Expecting Gap Down on Monday but Sunday event makes it tricky.
-Nifty retested yesterday's low & gave a good sell.
-How will i trade when market opens tom
GBP/AUD Short, EUR/NZD Short and GBP/NZD ShortGBP/AUD Short
• If price impulses down, it does so in a convincing manner and a subsequent tight flag forms, then I'll be looking to get short with either a reduced risk entry on the break of the flag or a risk entry within it.
• If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises.
• If there's any ambiguity then I will not place a trade on this pair.
EUR/NZD Short
• If price pushes up to and ideally just above our area of value, then regardless of how it does so I'll be waiting for a convincing impulse back down followed by a tight flag and then I'll be looking to get short with either a reduced risk entry on the break of the flag or a risk entry within it.
• If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises.
• If there's any ambiguity then I will not place a trade on this pair.
GBP/NZD Short
• If price impulses down below our area of value, it does so in a convincing manner and a subsequent tight flag forms, then I'll be looking to get short with either a reduced risk entry on the break of the flag or a risk entry within it.
• If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises.
• If there's any ambiguity then I will not place a trade on this pair.
$QQQ The Precipice?We are nearing a meaningful trigger on the daily at cost basis above. This is in confluence with our downtrend channel. Tomorrow We will utilize the PBS to take QQQ to 375.50 if our levels above are reclaimed. If we stop and chop the rest of the day BUT HOLD the daily floor as reference, then next week will be above CB and we are looking for the 380s. Otherwise, the box we left is a box to retest, and with today momentum behind us, it is a possibility.
Very High Chance of testing 50 Day EMA Nasdaq futures had a down day today which was perfect with the expectations that the markets were over bought since the recent lows. In the daily time frame there are very high chances that they will test the 50 day EMA level around 15,130 since that is the major support which is nearest to the price right now. Very high chances of having an inside day tomorrow.
Bitcoin: A Tug of War Between Bulls and BearsOn October 12, 2023, Bitcoin's price hovers around $26,663. The 1-hour chart shows a pullback from the recent attempt to cross the $28,000 level. Here are the key prices and possible scenarios:
Most Probable Scenario:
The 1-hour chart shows a short-term bearish trend as Bitcoin steps back from its recent highs. The Fibonacci Retracement points to a support zone between $26,500 to $26,000. If Bitcoin falls below this zone, it could head towards the next support at $26,000.
On the upside, overcoming the resistance levels at $27,300 and $27,800 could reignite bullish momentum. The technical indicators CHOP, STOCH, and RSI show some potential for an upward move, but the overall market sentiment remains cautious.
Recent Developments:
Macro-Economic Factors:
The recent warnings about a potential U.S. dollar crisis and predicted inflation flip by the Federal Reserve have spurred discussions around Bitcoin as a hedge against economic instability.
Market Sentiment:
Bitcoin's price has been under $30,000 for most of this year, a significant drop from its 2021 all-time high, signaling caution among investors. However, key market indicators suggest Bitcoin's price may have hit a local bottom, showing signs of readiness for gains.
Market Predictions:
Some predictions hint at a short-term bullish scenario for Bitcoin and other cryptocurrencies, contingent on upcoming U.S. CPI data.
Industry Developments:
The crypto market is reacting to the anticipation of the first Ethereum futures ETF product, indicating a broader acceptance and integration of cryptocurrencies in traditional financial products.
A Glimpse Into the Bullish FutureSolana has been showcasing a robust performance despite recent market pullbacks, gaining around 20% over the past 30 days, compared to Bitcoin's 5% rise. The price action for SOL has seen a pullback to the $22 mark, after facing rejection at the $25 level, which now acts as a key resistance point. This pullback phase is seen as a retest of the upside breakout, hinting at the opportunity of a positive turnaround. The Total Value Locked (TVL) in the Solana network has reached a new yearly high of $337.49 million, indicating a strong interest in the Solana ecosystem despite a drop in price since October 2, from a high of $24.79 to a low of $21.79 on October 12.
Most Probable Scenario:
Given the current market dynamics, a continuation of the uptrend could potentially see SOL testing the $25 resistance once again. If the price sustains above the 200-day Exponential Moving Average (EMA), there's a significantly higher possibility for an uptrend continuation to the $28 mark, further fueling a bullish scenario towards the $30 mark.
Additional Insights:
The rising price of SOL amidst a falling Bitcoin price signifies a potential decoupling, paving the way for further appreciation in SOL's value. Technical indicators are hinting towards a positive price action in the near term, despite a bearish sentiment in the broader market. The present scenario reflects a crucial juncture for SOL, as it treads carefully over vital support zones, preparing for a potential bullish journey in the upcoming altseason.
MATIC's Market ResilienceOn October 12, 2023, MATIC is priced at $0.5090, holding strong in a shaky market. Polygon (MATIC) has caught the market's attention mainly because of its Layer 2 scaling solution for Ethereum. This has led to increased interest from institutions, new partnerships, and a positive outlook in the crypto market, propelling a 57% growth since the start of 2023.
Most Probable Scenario:
The technical analysis for MATIC shows mixed signals with both bullish and bearish outlooks. On one hand, the inability to reclaim the 50-day EMA has triggered a sell-off, hinting at a potential test of the crucial $0.49 support level. Additionally, a possible bearish flag pattern suggests a further decline towards the $0.50 mark. On the other hand, Elliott Wave analysis presents a bullish outlook, hinting at potential upward movement in the near term.
MATIC's price behavior has shown similarities to Ethereum's past price action, suggesting a possible strong rally in 2023 if this pattern holds. Like Ethereum, MATIC's price was positively impacted by a bearish reversal on the U.S. Dollar (DXY), which could play a significant role in its future price movement.
In the short term, analysts project a price of $0.54246 by October 12, 2023, and $0.745609 by October 14, 2023. However, the general sentiment is leaning towards a bullish outlook for MATIC in 2023, especially if it continues to follow a similar pattern to Ethereum.
This analysis brings together a range of technical and fundamental factors that could affect MATIC's price. Continuous monitoring of market dynamics, particularly the U.S. Dollar trend and Ethereum's performance, alongside MATIC's fundamental developments, will offer a clearer understanding of its future price trajectory.
Day Trader’s Post Market Analysis - Nifty BankNifty-12th Oct ’23Below mentioned points are discussed in my post analysis video(Fast forward to 0:16 for Hindi Audio)
-No Trades in the morning
-Boring Day For Directional Traders
-Expiry Day Low Break in Nifty Can fill the gap!.
-How will i trade when market opens tom
EUR/CAD Long, GBP/AUD Short and AUD/NZD ShortEUR/CAD Long
• If price pushes down to and ideally just below our area of value, then regardless of how it does so I'll be waiting for a convincing impulse back up followed by a tight flag and then I'll be looking to get long with either a reduced risk entry on the break of the flag or a risk entry within it.
• If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises.
• If there's any ambiguity then I will not place a trade on this pair.
GBP/AUD Short
• If price pushes up to and ideally just above our area of value, then regardless of how it does so I'll be waiting for a convincing impulse back down followed by a tight flag and then I'll be looking to get short with either a reduced risk entry on the break of the flag or a risk entry within it.
• If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises.
• If there's any ambiguity then I will not place a trade on this pair.
AUD/NZD Short
• If price pushes up to and ideally just above our area of value, then regardless of how it does so I'll be waiting for a convincing impulse back down followed by a tight flag and then I'll be looking to get short with either a reduced risk entry on the break of the flag or a risk entry within it.
• If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises.
• If there's any ambiguity then I will not place a trade on this pair.
Ethereum Eyeing the $1,665 ResistanceEthereum (ETH) stands at a price of $1,633 as of October 8, 2023, showcasing a minor dip of 0.2% in the last 24 hours amidst a relatively flat cryptocurrency market. The digital asset has been grappling with a significant resistance near $1,620, with a further formidable resistance at $1,665, marking critical levels for a potential bullish reversal.
Key Prices:
Current Price (as of Oct 8, 2023): $1,633
Support Level: $1,530
Resistance Levels: $1,620 and $1,665
Analysis:
Despite a minor retracement, ETH has displayed a 2.5% growth over the last 14 days, and a remarkable 36.5% upsurge since the year's commencement, hinting at a strong recovery potential amidst a stagnant market scenario.
Most Probable Scenario:
Technical indicators forecast a balanced market scenario for ETH, with its 30-day moving average trailing below its 200-day average for over a month, while its Relative Strength Index (RSI) edges towards 50, suggesting a potential rally. The pivotal $1,665 resistance level appears as the next target for bulls, with the $1,530 support providing a solid foundation for upward movement, given favorable market conditions. The positive impact from the recent Shanghai and Capella Hard Forks further augments the bullish outlook, delineating a promising pathway for ETH if the critical resistance at $1,665 is surpassed.
Navigating Through Bearish CloudsAs of October 11, 2023, Ethereum (ETH) is trading at $1,557, a decrease from the previous price of $1,578 on October 9, 2023. The crypto market continues to exhibit bearish tendencies, with Ethereum following suit. Amidst this bearish sentiment, several analysts and price predictions reflect a mixed outlook for Ethereum's price trajectory.
Analysis:
The recent price movement saw Ethereum marking a new local low at $1,542. The intraday technical resistance is observed at $1,582 and $1,600, while support is strong at $1,530. Despite the short-term bearish outlook, a long-term perspective still harbors bullish sentiments provided Ethereum holds above key support levels, particularly $1,530.
Most Probable Scenario:
In the short-term, the bearish sentiment continues to overshadow Ethereum's price, with a notable cryptocurrency analyst, Benjamin Cowen, predicting a substantial decline towards the year-end. He predicts the price could plummet to a range of $600 to $800 by the year's end, indicating a bearish outlook in the near term. Conversely, some price forecasts hint at a potential rise, with predictions of Ethereum reaching $1,651.81 by October 12, 2023, and $1,756.42 shortly after, reflecting a more bullish outlook in the medium term.
Furthermore, technical indicators display a neutral sentiment with a Fear & Greed Index score of 50. The market sentiment is mixed with a 10% bullish and 90% bearish sentiment as of the latest update. Over the last 30 days, Ethereum has had 53% green days, indicating a somewhat stable price movement with a price volatility of 1.63%.
Day Trader’s Post Market Analysis - Nifty BankNifty-11th Oct ’23Below mentioned points are discussed in my post analysis video(Fast forward to 0:50 for Hindi Audio)
-No Trades in the morning
-Nifty Structure was again boring
-Bearish in Banknifty and Bullish in Nifty!
-How will i trade when market opens tom
EUR/CAD Long and AUD/NZD ShortEUR/CAD Long
• If price pushes down to and ideally just below our area of value, then regardless of how it does so I'll be waiting for a convincing impulse back up followed by a tight flag and then I'll be looking to get long with either a reduced risk entry on the break of the flag or a risk entry within it.
• If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises.
• If there's any ambiguity then I will not place a trade on this pair.
AUD/NZD Short
• If price pushes up to and ideally just above our area of value, then regardless of how it does so I'll be waiting for a convincing impulse back down followed by a tight flag and then I'll be looking to get short with either a reduced risk entry on the break of the flag or a risk entry within it.
• If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises.
• If there's any ambiguity then I will not place a trade on this pair.
#IDEA/VI LONG TRADE IDEA SETUPGreetings Folks,
today i have prepared a setup of IDEA on NSE
the analysis is as follows
- the price is making bearish structures
- the price has made a temporary higher low, its not validated until the price breaks past the previous lower high
- the volume is minimal, the RR can be good but so is the risk associated with it
dont play with fire, always use a predefined stoploss
Treading the Bull-Bear TightropeAs of October 10, 2023, Dogecoin (DOGE) is priced at $0.05891, marking a minor pullback from its earlier attempts to breach the resistance level of $0.06459, and the month kicked off with DOGE breaking free from a descending triangle pattern, supported by an ascending trendline, sparking hopes for an uptrend. However, the failure to surpass the resistance quelled the bullish enthusiasm, dragging the price below the $0.06 threshold.
Analysis:
The technical indicators for DOGE earlier this month showed promising signs, with the Relative Strength Index (RSI) testing the overbought zone, indicating a solid buying and selling power. However, the inability to clear the near-term resistance suggests a lack of buying pressure at higher price levels. The Moving Average Convergence Divergence (MACD) painted a green histogram, signaling positive price action, but the recent price retraction calls for cautious optimism.
Recent News and Fundamentals:
Dogecoin's narrative this month also echoes the broader market dynamics. A recent downturn in the crypto market reflected a 2% price dip for DOGE alongside other assets like XRP and Solana.
Despite the uneventful trading pattern, machine learning algorithms project a modest price target of $0.060218 for DOGE by the end of October 2023.
The coin's position as the 10th largest cryptocurrency, boasting a market cap of over $8.6 billion, fuels speculative projections of a price surge to $0.098 by the year-end.
Most Probable Scenario:
The ongoing tussle between bullish and bearish forces is pivotal, with the $0.06459 resistance level acting as a significant barrier. Should bullish momentum regain traction, ascending past this resistance could set the stage for further upward movement toward the secondary and tertiary resistance levels. Conversely, a bearish dominance could prompt DOGE to retest the support at $0.05800, potentially delving lower if the broader market sentiment sustains a bearish tone. Amid the mixed market sentiment and recent fundamental developments, a keen eye on technical and fundamental indicators is imperative to navigate DOGE's unfolding narrative.
SHIB's Slip or Shift: What's Next?As of October 10, 2023, Shiba Inu (SHIB) is trading at $0.00000688, showcasing a descent from its price range maintained from September 11th to October 9th, where it oscillated between $0.00000712 and $0.00000760. The price took a dip on October 9th, moving out of the previously held range, reflecting a market sentiment shift.
Key Prices:
Current Price (as of Oct 10, 2023): $0.00000688
Recent Price Range: $0.00000712 to $0.00000760 (Sep 11 - Oct 9)
Fibonacci Levels: 0.0 at $0.00000673, 0.5 at $0.00000700, 1.0 at $0.00000729
Analysis:
The recent price action reveals a break from the relatively stable range held over the past month, entering a new territory as of October 9th. The drop aligns with a broader market sentiment that remains cautious, if not bearish. The Fibonacci retracement levels drawn from the recent highs and lows provide a technical perspective, outlining potential support and resistance zones. The 0.5 level at $0.00000700 could act as a psychological barrier, with the 1.0 level at $0.00000729 indicating a stronger resistance, and the 0.0 level at $0.00000673 serving as a crucial support.
Most Probable Scenario:
With the price currently lingering below the 0.5 Fibonacci level, SHIB faces a testing time. A rebound from the current levels, possibly finding support at the 0.0 Fibonacci level, could attract cautious optimism among investors. Conversely, failing to hold above the 0.0 level might extend the bearish sentiment, driving the price further down. The reaction of SHIB's price around these Fibonacci levels, coupled with any upcoming market developments, will likely dictate its short-term trajectory. The historical price range and the recent break from it should be closely monitored by investors to gauge the market's next move.
Day Trader’s Post Market Analysis - Nifty BankNifty-10th Oct ’23Below mentioned points are discussed in my post analysis video(Fast forward to 0:32 for Hindi Audio)
-No Trades in the morning
-Gap Fill done!
-Dont Like the Upmove Structure in nifty :(
-How will i trade when market opens tom
Ascending Towards $30K or Descending to the $25K Abyss?Bitcoin's journey in the market continues as it settles around the $27,933 mark, taking a slight step back from the $27,737 level. This recent movement is part of a 23.6% retracement following a notable climb from $24,900 to $28,613. The market is on a roller-coaster ride, with both bullish and bearish forces trying to take the reins. On one hand, there's a positive sentiment pushing towards the targets of $28,404, $28,498, $28,769, and $29,151. However, standing in the way are formidable resistance levels at $28,614, $28,769, $28,934, among others, which are akin to tough hurdles on the track.
Most Probable Scenario:
Amid the current market trends and a wave of bullish sentiment marked by an increase in address creations, there's a cautious optimism brewing. The scenario that seems most likely is a gradual ascent towards the prestigious $30,000 mark. This promising outlook is contingent on breaking through the stated resistance levels and maintaining a steady upward pace. The positive market mood coupled with potentially favorable regulatory news could be the wind beneath Bitcoin's wings. However, staying alert is crucial as any negative turn in market or regulatory conditions could trigger a bearish reaction, driving Bitcoin towards the support zones around $26,704, $26,194, and $25,694.
On the flip side, should the market sway bearish, Bitcoin might find itself on a downward slope towards the $25,000 mark. This gloomy scenario could play out if selling pressure ramps up around the current resistance levels or if there are unfavorable market or regulatory developments.
EUR/CAD Long, CAD/JPY Short and NATGAS/USD ShortEUR/CAD Long
• If price pushes down to and ideally just below our area of value, then regardless of how it does so I'll be waiting for a convincing impulse back up followed by a tight flag and then I'll be looking to get long with either a reduced risk entry on the break of the flag or a risk entry within it.
• If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises.
• If there's any ambiguity then I will not place a trade on this pair.
CAD/JPY Short
• If price pushes up to and ideally just above our area of value, then regardless of how it does so I'll be waiting for a convincing impulse back down followed by a tight flag and then I'll be looking to get short with either a reduced risk entry on the break of the flag or a risk entry within it.
• If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises.
• If there's any ambiguity then I will not place a trade on this pair.
NATGAS/USD Short
• If price impulses down below our most recent low, it does so in a convincing manner and a subsequent tight flag forms, then I'll be looking to get short with either a reduced risk entry on the break of the flag or a risk entry within it.
• If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises.
• If there's any ambiguity then I will not place a trade on this pair.
Day Trade Market Condition oct 09, 2023 Happy ThanksgivingDay Trade Market Condition oct 09, 2023
levels for NQ ES CL BTC
watch the table left side for trade, right side for trend
I hope this message finds you all well. I wanted to take a moment to express my heartfelt gratitude to each and every one of you who has supported and engaged with my trading ideas and posts here on TradingView.
Your views, comments, and feedback have been incredibly motivating and encouraging. It's truly inspiring to be part of such a dynamic and knowledgeable community of traders and investors.
However, I must also humbly acknowledge that I am aware of my current limitations when it comes to trading. While I am passionate about the world of trading and investing, I understand that I may not possess the qualifications and expertise that many of you do.
I want to be transparent about where I stand in my trading journey. I am constantly learning and growing, and I fully recognize that there is always room for improvement. My commitment to you, my fellow TradingView members, is that I am dedicated to honing my skills and expanding my knowledge in the field of trading.
I may not have all the answers right now, but I firmly believe that with time, dedication, and the support of this amazing community, I can improve and provide more valuable insights and ideas in the future.
In the meantime, I will continue to update my blog occasionally to share my experiences, insights, and progress in the world of trading. I hope you'll join me on this journey of growth and exploration.
Once again, thank you from the bottom of my heart for your support and encouragement. Your engagement means the world to me, and it drives me to become a better trader and contributor to this wonderful community.
Wishing you all success and prosperity in your trading endeavors.
XRP's Market WaltzAs the October leafs flutter in the crypto theatre, XRP pirouettes on the stage of uncertainty on October 5, 2023, with its price elegantly poised at $0.529669. Despite a recent encumbering bearish sentiment, the curtains are yet to draw on XRP's performance as a soft whisper of bullish momentum echoes through the market halls.
Just days before, on October 3, a mild stumble of 3.01% against the US Dollar had slightly dimmed the spotlight on XRP. Yet, as the choreography unfolds, a medium-term price encore at $0.5675 is being choreographed by the market maestros for October, with a long-term crescendo targeted at $0.9300 come January 2024.
The script hints at a captivating act with a predicted price surge of about 32% over a week to touch $0.66, following a meaningful breach of a Fibonacci ballet step. This projection twirls in harmony with the general market optimism for a grand XRP rally in October.
The technical tableau paints a scene of mixed sentiment. The resistance and support levels stand as the pivotal stages for XRP's next act. A triumphant leap above the resistance of $0.66 could herald a bullish ensemble, propelling XRP towards the medium-term crescendo of $0.5675 and beyond. Yet, a falter could send XRP spiraling down to retest the lower support zones, a scene the market audience watches with bated breath.
Amidst the backdrop of an October scheduled buyback and the simmering notes of the SEC case, the $0.66 resistance level emerges as a critical battleground, setting the stage for XRP's short-term price ballet.
The choreography of XRP amidst the mixed market sentiment resonates through the crypto auditorium, embodying the volatile yet hopeful narrative of XRP as it endeavors to regain its bullish tempo in this financial choreography.
Key Price Levels:
- Resistance Level 1: $0.66
- Resistance Level 2: $0.5675 (medium-term target for October)
Flight to safety provided an initial move, but session was mixedImmediately as trading got underway in the Asia session, the flight to safety was clear following the attacks over the weekend on Israel. This initially set us up short on the EUR, which unsurprisingly dropped below last weeks bullish close to continue it's slide.
My first entry was short @1.05300. I wanted to give price time to settle after the London open to make sure we wouldn't see any wild swings. As we broke lower I was aggressive with the move to B/E and as price struggles around 1.05200, it was bid back up and the trade was over.
Interestingly we started to form a narrowing with volume coming in and push all /USD pairs back above VWAP. This gave us the green light to look long, and after some deliberation between this and GBP/USD, I opted to stick with the EUR as I was more comfortable with the price action after watching it all day.
Once again I was aggressive with the B/E and as I write it's still unclear if price will break to the upside but being this late in London session I'm happy to not carry the overnight risk and we'll chalk today up to some stumbles from the market.
