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Semiconductors and the Long-Term TrendChip stocks have been climbing since early last year. Now, after a healthy pullback, some traders may look for the longer-term uptrend to continue. The first pattern on today’s chart of the Philadelphia Semiconductor Index is the rising 200-day simple moving average (SMA). SOX bounced at this SMA in late 2023 and again last month. The most recent price action suggests it may remain support. Second, August’s low occurred near April’s trough. The level was above any level seen in any previous year, which may suggest new support has been established in new record territory. Third, stochastics are rebounding from an oversold condition. Other similar moments, followed upside in price, are marked on the lower study. Next, some individual members of the space have potential patterns, aside from leader Nvidia NASDAQ:NVDA . Micron Technology NASDAQ:MU could be forming a potential double bottom around $85. Applied Materials NASDAQ:AMAT has a similar formation around $175. Interestingly, both levels are slightly above their respective prices at the end of last year. Do these signal bullish reversals? 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.
NASDAQ:SOX
by TradeStation
XRP - High Timeframe Analysis - SHORT TRADE SETUPDISCLAIMER: This is not trade advice, this is for educational and entertainment purposes only. Trading involves real risk. Do your own due diligence. Utilizing my 12 Month - 2 Week - 12 Hour Mult-Timeframe approach, I have identified XRP as a market that I would consider shorting IF price action satisfies my rules for entry. The 2023 candle traded up into the 2022 high and failed to close beyond it. For this reason, I have a bearish bias down to the 2023 lows. XRP intermediate timeframe (2 week) is currently delivering price bearishly, and is currently in a intermediate timeframe bearish orderblock, which is a point of interest for me to look for entries. For this reason, I am satisfied taking an entry on the 12 hour timeframe if we get one of the following entries: Bearish change-in-state-of-delivery (CISD), 18 Period MA Entry, 10h8c MAC w/ Acc/Dis confirmation. I note that if price trades up into some of the intermediate term swing highs that I would consider shorting there as well, in the event that price trades through the intermediate timeframe bearish orderblock. Let me know if you have any questions about this multi-timeframe approach. I hope you are all having a great week. Good Luck & Good Trading.
Short
by Tradius_Trades
Gold coiling up ahead of another bullish breakout?Gold has been coiling under the record highs for a while now, constantly testing and bouncing from uptrend support over the past two weeks. While momentum indicators have yet to turn bullish, the upward bias in the price suggests we should be on alert for a bullish breakout. Traders keen to take on the long trade have two potential options. The first is to buy here with a stop below the uptrend, possibly just under $2500. To make the trade work from a risk-reward perspective, you’d need to target a move beyond the record high of $2531.81. The second option is to wait for the potential breakout above the record high. If it occurs, you could buy with a stop below the level for protection. As we’re talking uncharted territory, round numbers may provide potential targets; think $2550 and $2600. It’s only a line running from two former highs, but keep an eye out for possible resistance around $2567. Good luck! DS
FOREXCOM:XAUUSDLong
by FOREXcom
$SPY September 12, 2024AMEX:SPY September 12, 2024 15 Minutes. AMEX:SPY managed to hold recent low of 539.44 by making a low 539.95 and reversing. So again it touched top of channel as seen and bounced back. Even the close of 539.95 bar was good being at top of bar, we have oscillator making LL for the two lows 543.4 and 539.95. Hence i expect a retracement first. Considering the rise 539.95 to 553.36 if AMEX:SPY holds 548+ levels uptrend continues. So as long as 545 is not broken we can expect one more move towards 560-563. I will not short as ass values above moving averages. Yesterday covered short at 540.5. My stochastic indicator has turned from red to green bar as seen. Hence any retracement is a buy for me until any change.
AMEX:SPYLong
by RiderTrader
High Timeframe Analysis of the Dollar Index DXY - Short IdeaDISCLAIMER: This is not trade advice. This is for educational and entertainment purposes only, showing how I intend to participate in this market. Trading involves significant risk. Do your own due diligence. Utilizing my Multi Timeframe strategy, I have identified that I would like to look for SHORTS on DXY. To clarify, I'm not saying I'm blindly shorting this market. If I see price action that checks the boxes for this strategy, I will take the short. Until then, I do NOTHING. SETUP - > TRIGGER - > FOLLOW THROUGH. Feel free to shoot me a message with any questions. Have a great week!
ICEUS:DX1!Short
by Tradius_Trades
Harmonic Crab Variation + Bullish RSI Divergence - GUHere I have GBP/USD on the 30 Min Chart! Price has found Support from the July Highs! Upon reaching the Low @ 1.30493 I notice a couple things: -Price is moving Lower, RSI is moving Higher = Bullish RSI Divergence -Price has created what looks to be a variation of the Harmonic Crab Pattern (not exact values) Harmonic Crab XACBD Values: X-B ( .382 - .618 ) A-C ( .382 - .886 ) B-D ( 2.618 - 3.618 ) X-D 1.618 We continue to see price move higher and I believe we will see Higher Highs up to the 1.3130 - 1.3140 Area! Fundamentals: GBP has been positive in the analyst eyes this week with the Claimont Count Change with impressive numbers and Unemployment down from 4.2% to 4.1%! -GBP will have GDP releasing Wednesday Sept. 11th with forecasts to be Positive! USD not only has Rate Cuts starting next week but this week is heavily loaded with CPI & Core CPI Wednesday along with PPI, Core PPI & Unemployement Claims Thursday Sept. 12th!
Long
by Novi_Fibonacci
2
Sideways movement is likely.Greetings. There are very high expectations that bitcoin and with it the market will go down. If you think so, I will not dissuade you. The 2024 market is very different from 2020-21 and 2016-17. There is a lot more manipulation and sideways movement in it. Here are a few things I noticed on TOTAL. On the left is 4H chart. Kijun has crossed the red cloud and Tenkan may act as support for continued upside movement. 9 seasons of rainbow show a developing bullish signal. Oversold (blue) has changed to green (rising) on the two ribbons. On the right is 1D. The nature of the fickle clouds (red-green-red-green-red-green) hints that this is a sideways move, AND right today the kijun-sen line is being tested. If the market finds this support it will move towards the green clouds, but these swings could be in the 1.8-2.2 trillion range. SQZMOM is showing signs of reversal.
CRYPTOCAP:TOTAL
by averkie_skila
ASX 200 futures enter the “death zone” for bulls ASX 200 SPI futures and bullish moves above 8000 haven’t mixed well in 2024, resulting in a raft of failed breaks, long topside wicks and topping patterns. It’s akin to a “death zone” for bulls, starving rallies of oxygen before eventually reversing. I’m not outright bearish just because we’re back above the level, especially when momentum indicators are providing mixed signals, but I am interested in what happens near-term as it may dictate what happens longer-term. We’ll either get another topping pattern, or a bullish raid will finally stick. So, I’m waiting. I’m especially interested in how the price fares around 8080, if it gets there. The market has only been able to push through it once and never closed there. Given the track record and current valuations, I’m more inclined to sell rallies but I want the price signal to do so. If we see another failed attempt around 8080, you could sell with a stop either above the level or the high set in August, depending on your eventual target. On the downside, the 50-day moving average looms as one, with 7871, 7794 and 7721 the next after that. If the price were to break and close above 8121 before extending the move, the bearish bias would be negated. Good luck! DS
ASX24:AP1!
by FOREXcom
1
A Trade as Simple as "Shooting Ducks in a Barrel" - BTC LONGDISCLAIMER: This is not trade advice. This is for educational and entertainment purposes only to demonstrate how I intend to participate in this market. Trading involves real risk. Do your own due diligence. People like myself (with average-to-below average intelligence) need a simple strategy. My "Ducks in a Barrel" strategy is exactly that. Simple. Clear. Rules Based. Effective. Zero Discretion. BTC (and several other cryptos, for that matter), are setup for "Ducks in a Barrel" long trades. Lets review the process for identifying these setups. To be clear, this is not a "long now" post. This market is SETUP. This is not a timing tool. We get into the market once we get a technical long TRIGGER on the Daily timeframe. From there, we FOLLOW THROUGH on the trade by managing risk and maximizing profit. Without the TRIGGER, we have not trade. STEP 1: Identify a market with a strong trend on the weekly timeframe. I utilize the 39 and 52 period MA. For uptrends, we want to see both MA's sloping up and pulling away from each other. We see on BTC that the two MA's are still upward sloping and pulling away from each other. This confirms step 1, that we are in a strong uptrend. STEP 2: We need at least 2 of the following to be in unison with the direction we want to trade (in the case of BTC, we need 2 of these to support the long idea). VALUATION: For longs, we need an undervaluation vs Gold &/or Treasuries. STOCHASTIC: For longs, we need to see the market is oversold. SENTIMENT: For longs, we want to see Bearish advisor sentiment (we fade the public sentiment). STEP 3: We see that BTC is Oversold on the Stochastic and is Undervalued vs Gold & Treasuries. This meets our criteria of 2/3 indicators supporting our idea. This market is now SET UP for longs. Now we wait for the TRIGGER. STEP 4: We are waiting for Step 4 in Bitcoin right now. We need to see an entry TRIGGER on the daily timeframe via one of the following entry techniques. 18 Period MA Entry 10 high 8 close MAC w/ Williams Acc/Dis 57 MA Confirmation Entry Stop either 150% of 3 Period ATR, or 2 times the width of the MAC, whichever is greater. There are other entry techniques, but they are higher risk. The two entry techniques above will not catch the absolute bottom, but will ensure that you are buying into a confirmed trend change. Other entry techniques come with the risk of trying to "bottom/top" pick, which increases your odds of several losses prior to the real move occuring. If you have questions about the "Ducks in a Barrel" strategy, feel free to shoot me a message. I hope you all have a great week. And as always..... Good Luck & Good Trading.
Long
by Tradius_Trades
4
Buy NOW think later!! 1. Moderna is extremely oversold and we’re starting to see a very reliable bottoming pattern; i.e. bullish divergence on the RSI. This exact setup was seen few months back (see chart) and that’s how I called the bottom back then. 2. Given all the news about bird flu, not only does it put a floor underneath this stock but makes it quite likely a major rally initiates VERY SOON. 3. I think MRNA is in a major ABC wave. The strong move down past 3-4 months was wave B and a wave C could start soon. there’s an easy double if one buys at CMP
NASDAQ:MRNALong
by markethunter888
4
$SPY September 9, 2024AMEX:SPY September 9, 2024 15 Minutes. AS expected, AMEX:SPY being under all moving averages in 15 minutes kept on making lows for 2 days. Now if we consider the fall 551.58 to 539.44 then 544-546 is a good level to short. I will but only above 565 at the moment. If we take the rise from 510 to 564 AMEX:SPY has retraced 50% of the move. Now holding 530 is important as it is the 61.8% retracement for the move. 536 looks a good target now as it is also 100 averages in daily time frame. The oscillator in 15 minutes is making lower low along with price. 200 averages in 15 minutes are around 553 levels. So, at the moment downtrend in 15 minutes.
AMEX:SPYShort
by RiderTrader
3
Just a consolidation or a downtrend ? Since hitting an all time high in March, Bitcoin has been consolidating within a downtrend channel. the Price is currently oscillating between the 23.60% ($60’000 area), currently acting as resistance, and the 38.20% ($51’500 area), currently acting as resistance. The MACD is confirming that further downside potential appears technically viable, notwithstanding the expected interim rallies, until the price is able to break out of its down-trending channel.
COINBASE:BTCUSD
by ChartsAvenue
3
Smart Money Positioned to SHORT Gold - COT StrategyDISCLAIMER: This is not trade advice. This is for educational purposes only to demonstrate how I am looking to participate in this market. There is significant risk involved in trading, do your own homework and due diligence. COT Strategy SHORT Gold (GC) My COT strategy has me on alert for short trades in GC if we get a confirmed bearish change of trend on the Daily timeframe. COT Commercial Index: Sell Signal Valuation: Overvalued vs Treasuries Extreme Positioning: Commercials around max short of last 2 years = bearish. True Seasonal: Seasonal down to October. Supplementary Indicators: %R & Momentum (not yet confirmed) Remember, this is not a "Short Now" idea. These indicators are not timing tools. They simply tell us that this market could have a move of some significance to the downside, which we will participate in with a confirmed Daily trend change to the downside. Good luck & good trading.
COMEX:GCZ2024Short
by Tradius_Trades
Smart Money Positioned to SHORT CAD - COT StrategyDISCLAIMER: This is not trade advice. This is for educational purposes only to demonstrate how I am looking to participate in this market. There is significant risk involved in trading, do your own homework and due diligence. COT Strategy SHORT Canadian Dollar (6C) My COT strategy has me on alert for short trades in 6C if we get a confirmed bearish change of trend on the Daily timeframe. COT Commercial Index: Sell Signal OI Analysis: Upmove in price has seen Commercials aggressively move to the short side - bearish. Valuation: Overvalued vs Treasuries True Seasonal: Strong seasonal tendency to go down to October. COT Small Spec Index: Sell Signal Supplementary Indicators: %R Remember, this is not a "Short Now" idea. These indicators are not timing tools. They simply tell us that this market could have a move of some significance to the downside, which we will participate in with a confirmed Daily trend change to the downside. Good luck & good trading.
CME:6CU2024Short
by Tradius_Trades
3