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$SPY June 10, 2024AMEX:SPY June 10, 2024 15 Minutes On Friday as expected rectangle breakout happened with retrace and high also was 536.9. As seen in chart the oscillator 5,35 still has not worked out as expected and AMEX:SPY finding it difficult to break out on upside. AT the moment we are having 100 averages around 533. So holding of 532 is important today. For the last fall from 539.9 to 533.49 4SPY retraced 61.8% to 535.44. Hence uptrend today only on crossing 536.45 levels for a target 538-240. On downside i expect 529-530 to hold if 532 breaks being 200 average supports. It also happens to be 50 and 100 moving average support in 60 minutes time frame. In one hour, we can see clearly. It was a steep rise from 518 to 535. Hence a sideways time correction in progress. So, for the day buy above 536.5 fir 538-539 and sell below 532 for 529-530. Not much of a R: R so I will not trade today, unless I get a good bar in 15 minutes, close near top and good volume.
AMEX:SPY
by RiderTrader
4
Filecoin / USD / BTC - Regaular bullish divergenceOn the above daily chart a ‘incredible buy’ opportunity now exists following a 80% correction since April with oversold condition (orange column). Why bullish? 1) Price action breaks out of resistance to find support. 2) Regular bullish divergence. Lower lows in price action with RSI and MFI higher lows. There is actually 8 oscillators showing bullish divergence with price action at this time, but for the sake of keeping the chart clutter free they are not all shown here. 3) Stochastic RSI is crossing up 20. The green shaded area only occurs when high probability of uptrend exists - look left. 4) Price action against BTC on the daily chart (below) is also showing similar oversold conditions with ‘incredible buy’ opportunity. Excellent. 5) The 10-day chart (bottom) is currently testing support on past resistance. Is it possible price action falls further? Sure. Is it probable? Very unlikely. Excellent risk/reward ratio at this time. Good luck! WW FIL / BTC daily chart: 10-day chart:
Long
by without_worries
11
BNB on the Rise: Breaking New ATH and Eyeing Higher Targets🔍BNB (Binance Coin) is making significant moves. Here's an in-depth analysis to guide your trading decisions. 📆Coin of the Day: BNB (Binance Coin) About the Project BNB is the native cryptocurrency of the Binance exchange, used for trading fee discounts, transaction fees on Binance Smart Chain, and various other utilities within the Binance ecosystem. 🧩Technical Analysis 1-Day Timeframe This analysis focuses on longer-term trends, highlighting critical levels and scenarios. 📉Support and Resistance: BNB recently broke above a major supply zone, setting a new all-time high (ATH). The immediate support levels to watch are at $656.4, $617.0, and $589.8. A confirmed break below $589.8 could signal a failed breakout, while a hold above this level would confirm the breakout's validity. 📈Bullish Scenario: BNB's break above the supply zone and its new ATH suggest bullish momentum. If BNB can hold above the $589.8 level, it could aim for higher targets. Key resistance levels to watch are $813.5 (0.618 Fibonacci level) and $1072.8. 📉Bearish Scenario: If BNB fails to hold above $589.8, it could signal a fake breakout. The next support level would be at $517.2. Monitoring the price action around these levels is crucial for determining the trend's direction. 📊Volume and RSI: Volume has been low recently, which is concerning for sustaining a move higher. An increase in volume is necessary to confirm the bullish momentum. The RSI is currently at 67.38, indicating bullish momentum but approaching overbought levels. Key RSI levels to watch are 62.53 for support and potential bullish continuation. 💡Key Triggers: Monitor the price action around the $589.8 support level. A hold above this level, coupled with increasing volume, would confirm the bullish breakout. Conversely, a break below this level would indicate a potential reversal. 👨‍💻Trading Positions Long Position Entry Trigger: Hold above $589.8 with confirmation from RSI and volume. Strategy: Open a position on the hold of this level, targeting $813.5 and $1072.8. Use tight stop-loss orders to manage risk. Short Position Entry Trigger: Break and retest below $589.8. Strategy: Open a position if the price confirms a break below this level, targeting $517.2. Adjust stop-loss orders accordingly. 📝BNB has broken above a critical supply zone, setting a new ATH. Traders should monitor key levels and triggers for potential entries and exits. Volume and RSI indicate bullish momentum, but increasing volume is necessary for sustaining the move higher. 🧠💼Always remember the inherent risks in futures trading, with the potential for margin calls if risk management is neglected. Stick to strict capital management principles and use stop-loss orders, ensuring an initial target with a risk-to-reward ratio of 2. 🫶If you found this analysis helpful and want to support me, please boost this analysis. Feel free to leave a comment or suggest a coin you'd like me to analyze next.
by itsparham96
2
Biconomy (BICO)On the above 4-day chart price action has corrected by 95% since January 2022. Today is great long opportunity. Why? 1) RSI and price action resistance breakout. 2) Multiple oscillators print bullish divergence across a 3-month period. 3) Seller weakness. Notice the long candle wick into seller territory? 4) Price action prints support on past resistance. Look left. Is it possible price action falls further? Sure. Is it probable? No. Ww Type: trade Risk: <=6% of portfolio Timeframe: Now, don’t sit on your hands. Return: Will say elsewhere.
Long
by without_worries
25
ALEPHIUM PLAN FOR FIRST PART OF SUMMER Hi everyone, i know i haven't posted any ideas in a very long time but i decided to do this again, this time however there will be at least 5 new ideas every week. Today's idea is about Alephium. As we can see Alephium just completed a 6 month long Elliot Wave Cycle which brought the price from $0.414 so $3.829 ( +2500%) followed by a retracement back to $1.476 (-60%). The A, B and C waves formed a Zig-Zag Corrective Wave (each one with it's subdivision 1-5, a-c, 1-5) and the recent formed leg up is in my opinion a X wave which will lead to another Corrective Wave which cold be a Flat, Triangle or another Zig-Zag, together forming a Complex Corrective Wave. Judging by the RSI oscillator it looks like it wants to go up or at least consolidate and keep the price in an accumulation zone (medium bullish divergence) until BITCOIN gets to a new HH and takes the last top as a support (altcoin season). I think that in order for an accumulation zone to form we should expect to see a Regular Flat where waves B and C will retrace and end near the top and end of wave A. However, I won't be surprised if the price will go a bit lower (another Zig-Zag or a Descending Triangle) because BITCOIN just started pumping again and we know that only a few altcoins perform well when BITCOIN pumps. I hope this idea will give you a good perspective for the following month!
by RazvannCT
4
TON Coin ! Correction ?Toncoin is full of news and events on this project's platform Weakness of the uptrend can be observed due to decreasing volume and rising price. The uptrend line, which has moved less and less upwards each time it has been hit, indicates that we can expect a correction. However, once our uptrend line is broken and we consolidate below the $6 Range (daily candle closes), And if you pay attention to RSI the line has a downward trend and this indicator also confirms that we can have a correction Now if this happens, our first target could be the $5.59 Range, then the $(4.8 - 4.59) zone. And if our uptrend line throws the price upwards, we can expect the $(7.5 - 7.88) Range to be broken, in which case our targets could be $10.12 and then $13.58. Please note that the confirmation of the zone is the daily candle close. And know that this is my analysis and is not financial advice at all, there is no 100% in the financial market. I would be happy to hear your opinion as well?
by Crypto-Oracle1
CRUDE OIL (CL): Weak Momentum Likely to Persist?Assalamualaikum wbt and Good Day to fellow traders! From my rather simplistic view, the overall two-hour time frame (TF2hr) chart seems to indicate that the prices for WTI Light Crude Oil ( NYMEX:CL1! ) could go further south at least for the time being. The further potential weakness is being reinforced by the significant key moving averages (in this case Exponential Moving Averages or EMAs ) - the EMA50 (blue line) and EMA200 (amber line) - in which the Black Gold sits below those lines since April 17, 2024. Despite several rebound attempts, the commodity has continued to slide downwards making some notable Lower Lows and Lower Highs until recently last Friday while trading range-bound in between. In addition, the Moving Average Convergence Divergence (MACD) indicator also flashed a cautious sell signal last Friday following a cross over. On top of that, the obvious rejection at the 76.03-76.30 key level could possibly suggest that the bearish momentum is still in play. However, a bullish reversal may occur should the MACD crossover take place above the 0 line with the help of a significant volume, as well as the two EMAs crossing up. Wallahu a'lam. #cl #crudeoil #wti #blackgold #exponentialmovingaverage #ema #macd
NYMEX:CL1!
by rahman_daros
MATIC Nears Crucial Support Level: Key Insights and Triggers🔍MATIC (Polygon) is approaching a critical support level. Here's an in-depth analysis to guide your trading decisions. 📆Coin of the Day: MATIC (Polygon) About the Project MATIC is a layer-2 scaling solution for Ethereum, known for its low transaction fees and extensive use in the DeFi space. 🧩Technical Analysis 4-Hour Timeframe This analysis focuses on futures trading, highlighting multiple scenarios. 📉Support and Resistance: The price has reached the bottom of its consolidation range, with key support at $0.6449. A confirmed break below this level could signal further downside. The immediate resistance levels are at $0.6676 and $0.7491. 📈Bullish Scenario: If MATIC can hold above the $0.6449 support level and Bitcoin stabilizes, a potential bounce could occur. Key resistance levels to watch are $0.6676 and $0.7491. A break above these levels would indicate renewed bullish momentum. 📉Bearish Scenario: Bitcoin has recently been rejected from a significant supply zone, contributing to MATIC's decline. A break below $0.6449, confirmed by a retest, could lead to further downside, with the next support level at $0.5057. 📊Volume and RSI: Volume has been decreasing overall, except for a significant sell-off candle recently. The RSI has broken down, indicating bearish momentum. Key RSI levels to watch are 24.46 and 23.29 for potential oversold conditions. 💡Key Triggers: Monitor the price action around the $0.6449 support level. A break and retest of this level could provide a clear signal for further downside. Conversely, a hold above this level, coupled with stabilization in Bitcoin, could trigger a potential bounce. 👨‍💻Trading Positions Long Position Entry Trigger: Hold above $0.6449 with confirmation from RSI and volume. Strategy: Open a position on the hold of this level, targeting $0.6676 and $0.7491. Use tight stop-loss orders to manage risk. Short Position Entry Trigger: Break and retest below $0.6449. Strategy: Open a position if the price confirms a break below this level, targeting $0.5057. Adjust stop-loss orders accordingly. 📝MATIC is testing a crucial support level, with significant implications for future price movements. Traders should monitor key levels and triggers for potential entries and exits. Volume and RSI indicate bearish momentum, while support at $0.6449 is pivotal. 🧠💼Always remember the inherent risks in futures trading, with the potential for margin calls if risk management is neglected. Stick to strict capital management principles and use stop-loss orders, ensuring an initial target with a risk-to-reward ratio of 2. 🫶If you found this analysis helpful and want to support me, please boost this analysis. Feel free to leave a comment or suggest a coin you'd like me to analyze next.
M
by itsparham96
4
XAUUSD - Gold (Make or Break moment)There is a lot of selling pressure for gold, with RSI signaling overbought conditions on every higher time frame. Undoubtedly bullish, however, it may have reached a peak. In my opinion, a lot of consolidation is required before pushing for another ATH. Currently, a double top appears to be in the making, with a swing rejection candle on the daily, with a hanging man candle in formation. Bear trap? Possible. However, considering there is a possible DXY breakout to the upside, as EURUSD breaks down with impending interest rates cuts in June for the EURO, my money is on the dollar. Consequently, if gold begins to retrace back to the 2300 region for a "double bottom" bounce, the ensuing move upward may begin to appear more as the right shoulder with a sequential move to the 2200 region. Moving averages are quickly catching up. Conversely, there is arguably a "cup and handle" with ~2550 target. However, this may be perceived as invalidated by many with the rejection wick on the daily. Trade carefully.
OANDA:XAUUSDShort
by Trader-Daves
2
BTC Nears Critical Supply Zone: Key Levels and Triggers to Watch🔍Bitcoin (BTC) is approaching a crucial supply zone. Here's an in-depth analysis to guide your trading decisions. 📆Coin of the Day: BTC (Bitcoin) Bitcoin is the pioneering cryptocurrency, known for its decentralized nature and wide acceptance as a store of value and medium of exchange. 🧩Technical Analysis 4-Hour Timeframe This analysis focuses on futures trading, highlighting multiple scenarios. 📉Support and Resistance: The price is currently at the edge of a significant supply zone, which spans from 71,677 to 73,305. This zone, identified in the 1-day timeframe, has historically been a strong resistance area. A confirmed break and hold above 70,486, followed by a pullback, could signal a potential move higher. 📈Bullish Scenario: The 25 and 99-period SMAs are aligned with the current uptrend, suggesting bullish momentum. If the price breaks and sustains above 70,486 and then successfully pulls back, the next key level to watch is the top of the supply zone at 73,305. 📉Bearish Scenario: If the supply zone holds, preventing the price from moving higher, a significant downside move could ensue. The immediate support levels to monitor are at 70,486 and below at 68,984. 📊Volume and Moving Averages: A notable increase in volume has been observed as BTC interacts with the supply zone, indicating a battle between buyers and sellers. The 25 and 99-period SMAs support the bullish case, potentially bringing further upward momentum into the market. 💡Key Triggers and RSI: Pay attention to the RSI levels, which could provide additional confirmation for potential entries and exits. RSI triggers are noted at 74.51, 63.09, and 55.29, indicating different phases of momentum. 👨‍💻Trading Positions Long Position Entry Trigger: Break and sustain above 70,486, with confirmation after a pullback. Strategy: Open a position on the break of these levels, targeting the top of the supply zone at 73,305. Use tight stop-loss orders to manage risk. Short Position Entry Trigger: Rejection from the supply zone, particularly if price fails to sustain above 70,486. Strategy: Open a position if the price shows strong rejection from the supply zone, targeting lower support levels such as 68,984. Adjust stop-loss orders accordingly. 📝BTC is testing a critical supply zone, with significant implications for future price movements. Traders should monitor breaks of key levels to open positions. Volume and moving averages indicate potential bullish momentum, while the RSI provides additional confirmation. 🧠💼Always remember the inherent risks in futures trading, with the potential for margin calls if risk management is neglected. Stick to strict capital management principles and use stop-loss orders, ensuring an initial target with a risk-to-reward ratio of 2. 🫶If you found this analysis helpful and want to support me, please boost this analysis. Feel free to leave a comment or suggest a coin you'd like me to analyze next.
by itsparham96
1
NIFTY 50 in 2024 to begin a 40%+ correction?The Nifty 50, also known as the S&P CNX Nifty 50, is a widely followed stock market index in India. It represents the performance of the top 50 companies listed on the National Stock Exchange of India (NSE) by market capitalisation. Since the market lows of March 2020 the index has exploded 180%. If you’v never experienced one before, this is what a market melt up looks like. A number of reasons now exist to be incredibly cautious. A long position today may not see a profitable return for almost 6 years. How can we know this? Look left. On the above 2 week chart (as well as weekly time frame and lower) a hanging man candle prints. It is a textbook example. Market participants are exhausted. The bearish divergence is also significant. Eight oscillators currently print negative divergence with price action. This is not the first time this has happened. 2015 and 2018, 25% correction 2 years to break even. 2008, 60% correction 6 years to break even. Is it possible price action continues upwards? For sure. It it probable? No. After a 180% rally? Ww
NSE:NIFTYShort
by without_worries
ADOBE: What is the stock doing before the Q2 earnings Adobe's stock price has been declining over the past month, currently trading below its 50, 100, and 200-day moving averages, with the chart drawing a "death cross" pattern around mid-April, which further confirms the bearish sentiment. The stock now trades at a 25% discount compared to the highs earlier this year. The Volume Oscillator currently stands at 1.3%, suggesting some buying interest remains, but it's weakening compared to recent trading volume. This could signal a potential reversal, but the downtrend remains strong, with the neutral RSI not suggesting any bullish reversal either. Next week's Q2 earnings announcement could be a significant catalyst for Adobe. Positive earnings could potentially reverse the current downtrend, but the recent controversy surrounding Adobe's terms and conditions update could weigh on investor sentiment. The T&Cs update has sparked concerns among users, particularly creatives worried about their creations being used to train AI models, and professionals concerned about the privacy of their data. This could potentially impact Adobe's reputation and customer base, particularly since Adobe remains relatively silent on the issue. This uncertainty adds another layer of risk to the stock in the near term.
NASDAQ:ADBEShort
by WHSelfInvest