Potential Harmonic Bearish Butterfly Could Push QQQ to $525+Here I have Invesco Trust NASDAQ:QQQ on the Daily Chart!
Invesco Trust NASDAQ:QQQ follows the NASDAQ 100 Index which is Tech-Industry Heavy.
Price currently is struggling at ( $485 - $486 ), the 78.6% Fibonacci Level responsible for giving us our B point in what appears to be a potential Bearish Harmonic Butterfly Pattern!
Harmonic Butterfly
X - B = .786
A - C = .382 - .886
B - D = 1.618 - 2.24
X - D = 1.272 - 1.618
If Price is able to break through this Level, then by the Harmonic Butterfly Parameters, we could see the CD Leg extend to the 1.272 - 1.618 Fibonacci Levels @ ( $525.30 - $553! )
Fundamentals:
* Feds have already began their Easing Cycle with the more then expected aggressive 50 bps cut to Interest Rates. With more cuts already planned in the foreseeable future, this will begin to help the economy bounce back!
*Thursday, Sept. 26th: Final GDP, Unemployment Claims & Powell Speaking
Friday, Sept. 27th: Core PCE Index
Indicators:
- Price is trading Above the 200 EMA
- RSI Above 50
- Bullish Volume Building
Oscillators
EURJPY returning back to the primary trend directionPrimary trend: Long
On July 10th a new high was made, and the RSI showed a Overbought condition, leading the direction to change, and create a secondary trend for about 2months
The secondary trend stopped at a support, and RSI showed Oversold condition and the price rise again with strong candles.
RSI has already crossed the 50 level and a pattern.
Dow Theory - Bullish Divergence + ContinuationBINANCE:JSTUSDT has formed the first higher high after a bearish rally. Bullish divergence is also present on the chart.
7 Hr Analysis:
1. First higher high formed after a bearish rally
2. Break of descending trend line
3. Bullish divergence on RSI
4. Potential bullish flag in play (bullish continuation pattern)
Weekly Pennant, Daily Bull Flag Confirmed! - AUHere I have AUD/USD on the Weekly & Daily Charts!
Starting on the Weekly:
- Price has been creating Lower Highs into Higher Lows forming a Pennant Pattern!
- Price will consolidate in this formation until we are given a Bullish or Bearish Break.
- Aug. 5th - RBA decides to HOLD rates @ 4.35%, afterwards we see a Fake-out of Price
Breaking Down the Daily:
- After the Fake-out, we see Price make a Bullish run and create an Equal High
- Going from the Low of the Fake-out @ .63478 to the Equal High @ .68239, Price follows a Descending Channel until making a Fibonacci Retracement to the 38.2% Level, leading to a Bullish Break Confirming a Bull Flag Pattern!
- Sept. 18th - FED decide to Cut rates by 50 BPS to 5%, afterwards on Sept. 19th Price Closes Bullish Above the Resistance-Turned-Support giving us a Higher High and Potential Buying Opportunities!
I suspect the next area of Resistance Price will come to is at the over head Swing High @ .6895 and Falling Resistance where ultimately I believe AUD will give a Bullish Break to the Weekly Pennant and we will see Price continue to climb!
Indicators:
* RSI is beginning to become sustained Above 50
* BBTrend is printing Green Bars
* If you take the two Largest Bearish Candles in recent Price Action ( Sept. 3rd & Sept. 6th in Descending Channel), we can see that the Volume Delta prints -36.103K for the 3rd but only -20.958k for the 6th, Signaling less Bearish Participants!
NZD/USD blasts to 2024 highs as golden cross triggered Given its status as cyclical currency closely tied to the fortunes of the global economy, it comes as no surprise that NZD/USD blasted to a 2024 YTD high following China’s latest stimulus announcement.
Having broken long-running downtrend resistance, and with momentum indicators providing bullish signals without being overbought, there could further upside to come for the Kiwi as speculation swirls that China may announce fiscal stimulus measures in the coming days to boost flagging domestic demand.
Put simply, ahead of Golden Week holidays in China, risks appear skewed to the upside near-term even after the run we’ve seen. We’ve even seen the 50-day moving average cross the 200-day moving average from below, delivering a golden cross. Even though I’m not putting any weight on the event trigger, it’s like the cherry on top for bulls.
One option is to buy the break now with a tight stop below for protection, although that screens as a lower probability play with the pair sitting in between two levels.
My preference would be to wait for a potential pullback towards .6300, allowing for a stop to be placed below the level or former downtrend for protection. Alternatively, if we see a push above .6370, you could buy the break with a tight stop below for protection. For the latter setup to work from a risk-reward perspective, you’d need to target .6540.
Good luck!
DS
RSI Flags Gold Risks Before GDP, PCE Data? Gold is set to face two major US economic data points this week, following last week’s surprise 50-basis-point interest rate cut from the Federal Reserve: U.S. GDP figures on Thursday and Core Personal Consumption Expenditures (PCE) on Friday
Danielle DiMartino Booth of Quill Intelligence argues the Fed’s larger-than-expected cut signals concerns over potential negative GDP revisions, casting doubt on the chances of a “soft landing” for the U.S. economy.
Jerome Powell is also going to be speaking on Thursday at the 2024 U.S. Treasury Market Conference. But his remarks may take a backseat to the data.
The 4-hour Relative Strength Index (RSI) has climbed above 70, signaling overbought conditions and suggesting caution for gold buyers. If the metal turns corrective, the price could test $2,613.
Crossover Swing + Breakout Trade - HINDALCO📊 Script: HINDALCO
📊 Sector: Non Ferrous Metals
📊 Industry: Aluminum and Aluminum Products
Key highlights: 💡⚡
📈 Script is trading at upper band of BB and giving breakout of it.
📈 Script is giving Cup & handle Pattern Breakout on daily chart.
📈 Already crossover in MACD.
📈 Double Moving Averages are giving crossover.
📈 Right now RSI is around 66.
📈 One can go for Swing Trade.
⏱️ C.M.P 📑💰- 717
🟢 Target 🎯🏆 - 810
⚠️ Stoploss ☠️🚫 - 672
⚠️ Important: Always maintain your Risk & Reward Ratio.
✅Like and follow to never miss a new idea!✅
Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes.
Eat🍜 Sleep😴 TradingView📈 Repeat 🔁
Happy learning with trading. Cheers!🥂
China A50 stages major bullish breakout to key technical level Chinese stocks are going vertical in response to the swathe of stimulus measures announced before the market open. China’s A50 Index is no exception, staging a bullish breakout to an import level we can use to build setups around.
The break of the downtrend and 50DMA looks significant on the back of big volumes, seeing futures retest the 200DMA. With MACD and RSI (14) generating bullish signals on momentum, there could be more gains to come.
But let the price action tell you what to do.
If we get a clean break above the 200DMA, consider going long targeting a move back towards horizontal resistance at 12352. Ideally, it would be nice to see a retest and bounce off the 200DMA following the break to bolster the case for upside. A stop could then be placed below the 200DMA for protection.
Alternatively, if the price is unable to break the 200DMA convincingly, consider selling with a stop above the level for protection. Downside targets include the former downtrend and support at 11375.
Given the measures announced today and proximity to Golden Week holidays, the bias is to buy dips or breaks near-term given the possibility of further state support.
Good luck!
DS
BTCUSDT RSI EMA VWMA Signals with Profit Target for CryptohopperThis strategy combines the Relative Strength Index (RSI), Exponential Moving Average (EMA), and Volume Weighted Moving Average (VWMA) to create buy and sell signals, along with a profit target, for cryptocurrency trading. It is specifically designed for use with Cryptohopper through webhook alerts.
How It Works:
Buy Signal: A buy signal is triggered when the RSI crosses above the lower threshold (user-defined) and the 9-period EMA is above the 20-period VWMA.
Sell Signal: A sell signal is triggered when the RSI crosses below the upper threshold (user-defined).
Profit Target: Once a position is opened, the strategy sets a profit target based on the user-defined percentage. When the target is reached, the position is closed.
Indicators Used:
RSI (Relative Strength Index): A momentum oscillator measuring the speed and change of price movements.
EMA (Exponential Moving Average - 9 period): A moving average that gives more weight to recent price data.
VWMA (Volume Weighted Moving Average - 20 period): A moving average that takes volume into account, giving more weight to periods with higher trading volume.
Features:
Generates buy and sell signals based on RSI and moving average conditions.
Allows users to set a profit target percentage for each trade.
Alerts can be sent via webhooks to integrate with platforms like Cryptohopper to automate trading.
Alerts are provided for buy, sell, and when the profit target is reached.
How to Set Up Alerts for Webhooks:
Apply this script to your TradingView chart.
Set up alerts for the buy and sell conditions.
Enter your Cryptohopper webhook URL in the alert configuration to automate trade execution.
Disclaimer:
This strategy is for educational purposes only and should not be considered financial advice. Trading cryptocurrencies involves a high level of risk, and users should do their own research or consult a financial advisor before making any investment decisions.
SOYBEANS - Are We Close to a Major Bottom? Cycles Say YES.Here is what I am currently watching for SOYBEANS.
-We need to be aware that there is a major bullish divergence setup (not trigger) developing on the quarterly & monthly charts. We need to pay close attention to this setup, because if triggered/confirmed, it implies a massive move up for Soybeans would be on the horizon.
-Interestingly, the Weekly chart has confirmed bullish divergence. The first target (1090) has not yet been hit, but in my opinion, it looks probable that Soybeans will hit that target (and possibly go as high as the second target (1179). This implies that I believe Soybeans is likely to rally at least 5% in the near future, and possibly rally as much as 10% from current price levels.
-I will be aggressive with taking profits on any short setups that present, due to the bullish weekly divergence that has triggered.
-Utilizing the Weekly MAC & Valuation methods, I note that this market is in an area where we can look for H6/Daily short trades. As mentioned in previous paragraph, I will utilize more aggressive targets.
-The cycles for Soybeans...wow, they are quite something. Decennial cycle suggests significant low being put in, APZ's suggest major low around October 4th, major 5 year cyclical low RIGHT NOW. Other temporary and permanent blended cycles suggest a major low right now. Composite of the 3 most similar years of price action also suggest a major low could happen soon, with a major rally to March 2025.
-A combination of the cycles and the major timeframe bullish divergences have me leaning somewhat towards calling a possible major bottom in the Soybeans market. I would prefer to see commercials COT positioning support this idea, which makes me think maybe we get another nice selloff into the August lows before the real bottom is in. But time will tell.
Heikin Ashi is a serious argument.Meanwhile, a new 19D candle opened overnight.
Heikin Ashi is giving an unambiguous signal that what
has been happening for the last few months with bitcoin is a huge flag.
The new candle opened in green.
Combined with the fact that IFTCOMBO is ready to cross the
‘basement line’ upwards, it suggests that a major rise will finally take place.
Right now, there is still a very long and tedious consolidation going on.
I Cannot Long This !!! situation+next targets.Given that the price has reached the top of the megaphone pattern and a negative signal (regular bearish divergence) has emerged, we can expect the price to decline from here to the points indicated on the chart.
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The markets are always changing and even with all these signals, the market changes tend to be strong and fast!!
Hanging Man and Doji Patterns in Focus!XAUUSD
2H Chart
Price: 2622.23
Hanging Man:
The highlighted candle in the chart represents a Hanging Man pattern, which is a bearish reversal pattern typically found at the top of an uptrend.
The long lower wick signifies that sellers pushed the price down during the session, but buyers managed to bring it back up close to the open price, though not with strong bullish conviction.
The fact that this pattern appears after a sharp upward move signals a potential bearish reversal, especially if followed by a bearish confirmation candle.
Doji:
The Doji signals indecision, with buyers and sellers unable to gain control as the open and close prices are nearly the same. Following the Hanging Man and with an overbought RSI of 73.32, it suggests weakening bullish momentum and potential for a bearish reversal.
Place a stop loss above the Hanging Man’s high and set take profit near the next key support at 2,613.732. These levels are derived from the Hanging Man, providing some bearish confirmation. However, traders should feel free to skip the trade if they aren’t confident with the setup, as prioritising risk management is crucial.
Confirmation:
A bearish candle closing below the low of the Doji would provide strong confirmation of a trend reversal.
Good luck in the markets!
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META - Still Bullish, But Major Sell Signal LoomingHere is what I am watching on META.
-Like many of the other high flying stocks in the US, the Quarterly, Monthly & Weekly charts are flashing divergence sell setups. Bulls need not be too worried yet, as these divergence sell setups have not yet confirmed. However, the astute trader must be aware that these setups are looming, because if they confirm, they imply a minimum 15% move to the downside for Meta.
-We are bullish on any pullbacks into the 446 to 495 range (Monthly & Weekly MAC lows). These are considered Buying opportunities and valid areas to look for entry triggers on entry timeframes.
-Cycles suggest a cyclical high right around now, heading into a significant cyclical low in early to mid October (possibly into November). I'd like to see this cycle play out to have price trade down into the Monthly/Weekly MAC lows, where we will be ready to hunt entry triggers to the long side.
Amazon - Buying Pullbacks & Cyclical High Expected SoonHere is what I am watching on Amazon.
-We need to be aware that there is bearish divergence setting up on the quarterly, monthly & weekly charts. HOWEVER, this divergence is not yet confirmed, and is therefore not actionable trade intel at the present moment. We need to monitor these divergences, because if they confirm, they imply significant price moves in Amazon share price.
-MAC strategy for the Quarterly, Monthly & Weekly charts remain bullish. Any pullbacks into the bottom of the MAC are BUY opportunities. I do not blindly buy the bottom of the channels, but utilize lower timeframe entry techniques at these levels to trigger into a position. We are still BULLISH Amazon.
-Cycles suggest that Amazon could put in a cyclical high any time between now and October 10th, before putting in a major cyclical low at the end of October. I would like to see this play out to provide us with nice buy opportunities at the bottom of the MAC's.
Google - Looking For Sell Triggers Around 171This video provides an overview of the things that I am watching for Google right now.
-We need to monitor the quarterly, monthly & weekly divergences that are currently setup, but not yet confirmed. These are not actionable right now, but they definitely need our attention. If confirmed, they imply some very significant moves in this market.
-We can see that the Monthly is still bullish, and we had a monthly MAC entry confirm on the Daily on September 13th. This trade still has not hit its targets, with the first being 169.69 (what a great number). The second target being 180. I would not be surprised to see Google trade up to 169.69 sometime soon.
-The Weekly chart is confirmed bearish for the MAC strategy. What this means is that any rallies into the weekly MAC high are opportunities to sell on the H6 chart. I'll be looking for sell triggers if price trades into the 171 level (Weekly MAC high).
-Threw in some cycles, for fun.
Have a great week.
NVDA - Still Bullish, But Major Potential Sell Signal LoomingThis week in NVDA I am paying attention to the following:
-On the monthly timeframe, we see that there is a significant bearish divergence setup forming. This has not yet triggered, though, so the bulls can relax (for now). However, in 7 days when the Monthly candle closes, we need to pay close attention to the CCI divergence. If it confirms, it implies a MAJOR bearish correction for NVDA is on the horizon.
-But in the meantime, everything is all systems go for the bulls. If you trade based on the Monthly, any pullbacks into the $88 region (Monthly MAC low) would be satisfactory spots to look for Buy triggers on the Daily timeframe. The Williams Acc/Dis is positioned well above its 57 period MA, which means we should look to buy any pullbacks into the low of the MAC.
-Weekly analysis also implies all is good for the bulls. I will look for Buy triggers on the 6H chart if price pulls back into the $107 region (Weekly MAC low).
-For fun, I throw some cyclical analysis into the mix. We see that NVDA has a strong seasonal cycle for an upmove from early October into November.
Thank you for reading. Enjoy your week.
Apple - High & Intermediate Term AnalysisToday, we look at Apple utilizing a variety of techniques: Divergence, MAC & Cycles.
We need to keep an eye on the quarterly, monthly & weekly bearish divergences that are occurring. They have not yet triggered, so bulls don't have to worry (yet). But we must keep our eyes on these divergences, because if they trigger, they imply significant downside ahead for Apples share value.
We take a look at the MAC and see that there is a case to be made for some further upside this week, and based on todays state of the indicators, longs are favored on any pullbacks to the MAC on the Daily chart.
Cycles show a bit of a mixed bag of possibilities. I'm most interested in the Decennial pattern and the APZ's.
Let me know if you have any questions.
Bullish Alert: Tata Technologies|Strong Swing Trade Potential!📈 Bullish Alert: Tata Technologies Ltd. Shows Strong Swing Trade Potential! 🚀
Stock Analysis Report
Stock Name : Tata Technologies Ltd.
Timeframe: Daily
Current Market Price (CMP) : ₹1068
________________________________________
Trade Type
• Trade Type: Swing Trade
________________________________________
Technical Analysis
1. Trendline Breakout:
The stock has recently broken above a key trendline with increased volume, indicating a strong bullish signal.
Following the breakout, the stock has successfully retested the trendline, further
validating the upward momentum.
2. Indicators:
MACD: Buy signal confirmed.
Oscillator: Buy signal confirmed.
3. Moving Averages:
The price is currently trading above both the 50-day and 100-day moving averages, reinforcing the positive trend.
________________________________________
Target Prices
• T-1: ₹1115
• T-2: ₹1150
• T-3: ₹1180
________________________________________
Stop Loss
• SL: ₹1045
________________________________________
Summary : Tata Technologies Ltd. presents a strong swing trade opportunity. The stock exhibits a bullish trend supported by a recent trendline breakout, successful retest, and positive signals from key technical indicators. With the price trading above significant moving averages, potential target prices are set at ₹1115, ₹1150, and ₹1180, while a stop loss is recommended at ₹1045 to manage downside risk.
________________________________________
Disclaimer : " Please do not base your trades solely on the ideas mentioned above. Conduct your own research before making any trading decisions. We are not responsible for any financial losses that may result from applying this study or from taking any early entry or exit in trades. "
Altdominance Reversal SoonMany alts are making new ATLs or are at lows against BTC presently.
Others dominance has been in a parallel uptrend since breaking and holding above ~4.5% and reaching levels above 10% market dominance for the first time back in 2017.
We haven't quite made a 3rd touch to confirm the channel during more recent lows in June of 2023 and again in August this year.
Still, the channel and indicators are pointing towards a move back up towards channel top. The question is:
Do we move up without touching channel bottom first?
Or, will we see a final move back around 8%, making a higher low and touching channel bottom prior to moving up?
WFC - Wells Fargo ABOVE 200SMA & 200EMANYSE:WFC crossed both 200EMA and 200SMA.
ROC and RSI are confirming the direction of the price.
However, DMI+ is still below DMI-, DMI- couldn't keep the strength to keep the negative direction and so it's losing strength with ADX changing direction close to DMI+. With the DMI+ already crossing DMI- in the 4hours time.
Volume it's increasing together with the price, highlighting the increase in demand
DBS Bank Short: Technically SpeakingBased on technical analysis, I have a few reasons to believe that DBS has reached a peak, or is peaking.
Briefly, here's a list of what's shown on the chart:
1. Elliott Wave counts shows that the vertical move from 5th Aug 2024 to 20th Sep 2024 can be deemed as a 5th wave of a 5th wave.
2. RSI(7) on the daily timeframe is in overbought and at a level that will usually turn down. (Take note that if you study previous price where the RSI(7) reached this level, it usually shows a 3rd wave then a 4th before another high was reached).
3. 2 Fibonacci extension levels converges around $39:
3.1. The first is where I extend cycle wave 1 (green fibo extension) and shows that entire cycle wave could potentially be 1.618x of cycle wave 1. Actual target: $38.88
3.2. The second is where I extend primary wave 1 of cycle wave 5 (purple fibo) and shows that wave 5 could be 1.618x of wave 1. Actual target $38.95
The idea can easily and quickly be invalidated if DBS easily make another new high of say $39.50 (which is why the stop loss is placed around that price). But no matter what, it is important to stay cautious and look for signs that price action is no longer sustainable.
Good luck!