Tesla (TSLA): Profits Taken, Pullback AnticipatedWhat a rise by NASDAQ:TSLA !
The stock has now reached the targeted wave 3 zone, and we might see some asset rotation out of Tesla into underperforming stocks that could attract renewed attention and capital inflows. Many traders have booked significant profits on NASDAQ:TSLA , and larger players are likely to do the same in the coming sessions.
As usual, our focus remains on building a new position during a pullback. We are targeting the 38.2%–50% Fibonacci retracement levels, which should provide sufficient support for another push higher, potentially toward $585 or more. A key level to watch is the old all-time high. Should bulls defend it effectively, waiting for an entry at $371.35 might leave us sidelined.
However, we see no reason to force or rush an entry into NASDAQ:TSLA at the moment. Patience remains critical as we wait for the market to come to us.
Signals
USDCHF: Bullish Move Confirmed 🇺🇸🇨🇭
It looks like a local correctional movement is over on USDCHF
and the pair is returning to a bullish trend.
The release of the today's US fundamentals made the pair
violate a resistance line of a narrow consolidation range on an hourly.
The price will most likely go up to 0.9007 level.
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After the Fed’s Rate Cut: Gold’s Price Action and What’s NextYesterday was another wildly volatile day for OANDA:XAUUSD , with prices dropping approximately 600 pips following the Fed's rate cut.
After breaking below the 2645-2650 confluence support on Tuesday, the market entered a day of consolidation with a tight trading range.
However, the calm didn’t last long...
Yesterday's sharp decline took prices below the 2610-2615 technical support zone and even breached the critical 2600 level.
Overnight, Gold rebounded back above 2600, but in my opinion, this recovery is likely a normal retracement and does not signal a bottom for the yellow metal.
For bears, the sell zone begins at 2620 and extends slightly past 2630, accounting for the heightened volatility. This area presents an opportunity to look for short entries. The initial target for this move would be yesterday's low, but I wouldn’t be surprised to see Gold drop further toward the 2525 key support level in the near future.
As long as prices remain below the 2650-2660 resistance range, the outlook for XauUsd stays firmly bearish .
US10Y going lower as Fed has no choice but to continue cutting.More than 1 year ago (November 7 2023, see chart below), we made a bold (for the time being) call on the U.S. Government Bonds 10YR Yield (US10Y), as against the prevailing market sentiment we gave a sell signal, right after what turned out to be a top:
Today we revisit this pattern, following yesterday's Rate Cut by the Fed primarily because of their statements that instead of 4, they will only proceed to 2 more cuts in 2025. We believe this to be false and expect the Fed to quickly resume the previous outlook.
The chart shows that the 1M RSI Lower Highs have are consistent with the previous Bearish Reversal on the US10Y price, similar to 2006 - 2007. We are expecting to hit the 0.382 Fibonacci retracement level at 2.100%, as the Fed's Cut Cycle will be accelerated in order to meet within 12-18 months their 2% inflation target and stabilize.
For better illustration we have plotted also the U.S. Interest Rate (red trend-line), where you can clearly see that the fractal we compare to today, is right before cuts started in August 2007. Also it is a natural consequence for the US10Y to fall when rate cut cycles start, evident also in June 2019, December 2000, May 1995, May 1989 September 1984, May 1981 etc.
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SPX500 Will Go Up! Long!
Take a look at our analysis for SPX500.
Time Frame: 9h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is approaching a significant support area 5,900.98.
The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 5,967.79 level.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
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USOIL Will Move Higher! Buy!
Please, check our technical outlook for USOIL.
Time Frame: 1D
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is on a crucial zone of demand 70.05.
The oversold market condition in a combination with key structure gives us a relatively strong bullish signal with goal 72.85 level.
P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.
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EURCHF Is Bullish! Long!
Here is our detailed technical review for EURCHF.
Time Frame: 4h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The price is testing a key support 0.932.
Current market trend & oversold RSI makes me think that buyers will push the price. I will anticipate a bullish movement at least to 0.936 level.
P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.
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NZDCAD Is Very Bullish! Buy!
Take a look at our analysis for NZDCAD.
Time Frame: 4h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is trading around a solid horizontal structure 0.814.
The above observations make me that the market will inevitably achieve 0.819 level.
P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.
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MASTERCARD Huge sell signal emerged, hit 1D MA50 after 4 months.Mastercard (MA) has been trading within a 2-year Channel Up that has given us very accurate trades. Our previous signal (April 02, see chart below), was a sell right on the pattern's top that easily hit our $440 Target:
Once more we see a long-term Top on this stock as the price almost priced a Higher High and on yesterday's Fed fueled pull-back, it hit its 1D MA50 (blue trend-line) for the first time in 4 months (since August 06).
Apart from that, the 1D RSI has been on a Bearish Divergence of Lower Highs (against the Higher Highs of the Bullish Leg/ dotted Channel Up) since October 18. All such previous Bearish Divergences within this 2-year Channel Up, have started the Bearish Legs (red ellipses) of the pattern, which hit at least their 0.382 Fibonacci retracement levels.
As a result, we have a high probability short signal at our hands, targeting $495.00 (Fib 0.382).
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USDJPY Analysis And Next Market MovePair Name = USDJPY
Timeframe = D1
Analysis = technical + fundamentals
Trend = Bullish
Details :-
USDJPY is getting a good volume. Gradually moving higher. Expecting 400 Pips + gain in this Move. USD is getting strong. That is pushing JPY Down. We can see price around 162.000 soon
Bullish Target:-
162.000
162.500
GBPJPY Will Go Up From Support! Long!
Please, check our technical outlook for GBPJPY.
Time Frame: 4h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is on a crucial zone of demand 194.719.
The oversold market condition in a combination with key structure gives us a relatively strong bullish signal with goal 196.745 level.
P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.
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WTI OIL entered a new bullish pattern on a 4H Golden Cross.WTI Oil (USOIL) just formed a Golden Cross on the 4H time-frame while at the same time it rebounded on the former Lower Highs trend-line. This technical shift from a Resistance level turning Support, signifies the emergence of a new Channel Up pattern.
The pattern's first Higher High was priced on the 71.45 Resistance (1) and if the current Higher Low holds at the bottom of the Channel Up, we expect an equally powerful Bullish Leg for the next Higher High.
As a result we expect it to hit at least Resistance 2 and our Target is $72.80.
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105K for possible short entryMorning folks,
So, BTC just perfectly completed our setup for this week, turning down precisely around 107.80K, where as butterfly as H&S pattern targets were completed and falling down to predefined 98-98.5K area... Now what?
Daily trend has turned bearish, so, nominally we have no reasons for longs at least on daily chart. And should wait for the bounce to resistance levels. Now 105K seems potentially interesting for short entry, if BTC will hold bearish trend.
On intraday chart current 98-98.5 Lows in fact is a last hope for the bulls. This is K-support area, trend line support. SO tactical bounce should happen here, and it is already underway.
Thus, for intraday traders, this level might be interesting for scalp long position.
Those who would like to sell should wait for the same upside bounce. And, some resistance area, say 105K. If BTC will keep going higher, then forget about shorts for some time.
So, daily traders should wait...
BITCOIN Will the Channel Up hold or has the Fed condemned it?Bitcoin (BTCUSD) is having an impressive sustainable price action within the Channel Up pattern since November 12, which despite yesterday's Fed fueled pull-back, is still holding. If it holds, it may follow the same pattern that it did exactly 1 year ago.
As you see, it was again in November 2023 that it traded within a Channel Up, which was supported by the 4H MA200 (orange trend-line) since October 11. After it broke out, the price reached the 7.0 Fibonacci extension level from the October low, before correcting again.
The situation is very similar today, the 4H MA200 is also holding since Oct 11, the price also formed a 4H Golden Cross on Sep 18, while both fractals started their impressive rallies around the same date (Sep 06 2023 and Sep 11 2024 respectively).
As a result, if the 4H MA200 holds, we can expect BTC to target the 7.0 Fib ext next at $135000.
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Silver Rebound Offers Short Trade Potential: Targeting $28In my weekend analysis, I highlighted the potential formation of a Head and Shoulders pattern in Silver's price, with the neckline positioned precisely at the psychologically significant $30 level.
Yesterday, the Federal Reserve’s rate cut triggered a drop below this key level. Currently, OANDA:XAGUSD is experiencing a normal rebound.
This rebound may provide traders with an opportunity to consider short positions if the broken $30 level is retested.
The next significant support level is at $28, which could serve as the target for this potential move.
Lingrid | EURUSD Bearish Momentum Persists. ShortFX:EURUSD dropped after the news was released and is now pulling back toward the resistance zone. The price is slowing down and forming rejection candles, indicating a potential reversal at this resistance zone. On the 1H chart, the price is showing an ABCD pullback pattern. Given the bearish sentiment, I believe the market might continue to move downward. I expect a pullback to the resistance zone around 1.04300 before the bearish trend resumes. My goal is support zone around 1.03260
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
Lingrid | TRXUSDT buying Opportunity from the SUPPORT zoneThe price perfectly fulfilled my last idea. It hit the target level. The recent sell-off in the entire crypto market, led by BTC, had a significant impact on altcoins as well. BINANCE:TRXUSDT has pulled back toward a key support level and the upper border of an upward channel. A fake break of the round number at 0.300 suggests that there was not enough strength for the price to maintain momentum above this level, leading to a rollback. With the price now having rebounded off the trendline and the support level around 0.250, there is potential for a recovery. If the support holds, I expect the market to slowly move upward toward the resistance zones. My goal is resistance zone around 0.2880
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
From Decline to Opportunity: Total3 Poised for RecoveryAfter breaking below the critical $1.04T support level yesterday, Total3 experienced a sharp decline, finding its footing at a key horizontal support level.
This drop coincided with many altcoins also reaching their respective support zones. For traders, this presented an attractive opportunity to enter the market at more favorable prices, effectively halting the downward momentum.
Currently, the chart shows a promising reversal forming. As long as this horizontal support level holds, there is a strong likelihood of continued upward movement, potentially paving the way for a new all-time high.
XauUsd/Gold: Gold is holding an important level!Looking for Impulse Down.
XauUsd/Gold: Gold is holding an important level. I anticipate it will move down by next week. It's important to have your own rules on RR and adhere to them. This trading idea is intended to assist you and enhance your knowledge. If you have any questions, please ask me in the comments.
Learn & Earn!
Wave Trader Pro