The upward trend of XLK experienced a halt in mid-April, marked by a price breakout below the swing low at $197.3. By retracing the price action from January 2022 to October 13, 2022, a potential pattern emerges, suggesting the formation of a 'Head & Shoulders' reversal pattern. XLK had been on an upward trajectory from October 2022 until April 2024, largely...
wti crude oil comment: Market is making marginally higher highs on the 1h tf but it’s a reasonable triangle we are in. I think it will chop some more inside before another breakout and I think that will be news related/event driven. current market cycle: trading range key levels: 80-86 but converges inside 82-84 bull case: Bull legs inside the range...
Good Evening and I hope you are well. overall market comment Bulls got excited again and calling for new all time highs after a 3 week selloff. Well today was the expected disappointment for the bulls, after euphoric bears got disappointed last week. That’s what markets do after wild moves. No one knows where it’s going and market is looking for the fair...
Good Evening and I hope you are well. Gold comment: Tough spot to trade imo. Different time frames tell different stories here. Daily had a big reversal and closed above the 20ema. 4h says it’s a small pullback from a potential W1 of a bear trend and on the 1h chart we could argue that market formed a nice double bottom and we trade back to the weekly high...
Good Evening and I hope you are well. overall market comment Today’s bounce was expected and necessary for the bulls to stop the selling and the real question was not if we get a pull back but how high it will be. That will determine the new short-medium term targets. bitcoin comment: Most of fintwit will promise you this pullback is the start of the new...
- Quick update and not a price prediction, just to give a general idea. - Timeframe is only H4 ( and i don't like too much small TF, lot of noise there) - Just to monitor the PA between 72k$ ish and 60k$ ish. - this PA could form a ranging consolidation to the next leg. - if BTC dip again, the next support is around 50k$ ish. - Keep things simples. - I don't...
Dax Quote from last week: bear case: Bears showed strength this week and bulls continued to take profits. Every bounce was sold and this pull back is now as deep as the one we got from mid 2023-12 to early 2024-01, which is around -4%, which is, given the +28% rise, almost nothing. Now we are at the first very important level to determine the strength and...
Good Evening and I hope you are well. Let's review my short term outlook from tesla #4 2024-04-03.. "short term: 150-160, earnings in 2 weeks should bring us below 150 and on our way to 100-110." Earnings being released on Tuesday after US close. I have absolutely not edited anything from the drawn wave thesis 2 months ago. This stock is in a strong bear trend...
Today i will try to explain how to play with Kava in a simple way. - Remember always that in Cryptos are not easy as forex or stocks, because movements are always brutal. - The first step is always to detect the real trendline. - Detect 3 points. Bouncing Points, Rejection Points. - Some traders use only 2 points, but i am old style trader, so i really need 3...
Good Evening and I hope you are well. Today nothing moved the markets and I was humble enough to book some early profits and scalps before US open. I left it at that and am very happy with that decision. Days like this are the death for inexperienced traders, so if you lost money today, train on a paper account when market is this choppy. Leave your ego at the...
Good Evening and I hope you are well. bull case: 50 points down and 60 points up. Unreal price action for this Market. Bulls bought where they had to, to stay inside the broad bull channel or expanding triangle. Call it what you want, you trade it the same. Since Fridays sell off was so extreme, I rather be humble as a bull and take my profits on weakness. Retest...
Good Evening and I hope you are well. overall market comment Last week was expected until Wednesday, as markets mostly moved sideways. Two weeks ago I concluded the most recent bull trends had their trend lines broken and the daily 20emas also. Wednesday’s CPI print was a bit above forecast but reminded markets that maybe not all is well buying into the highs...
Last week, the EUR/USD market was a whirlwind of activity, marked by heightened volatility and significant price swings. The week began with bullish momentum, as buyers took charge and pushed prices higher. However, by midweek, the market experienced a dramatic shift, with increased selling pressure leading to sharp declines in the EUR/USD pair. Despite the...
Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈 EURUSD has been overall bearish , trading within the falling wedge pattern in red. Currently, EURUSD is approaching the upper bound of the wedge acting as a non-horizontal resistance. Moreover, it is retesting a strong resistance zone at 1.088 marked in green. 🏹 Thus,...
Hello traders, I decided to do a short video of EURAUD, with my BIAS, I'm seeing a long from here. I was expecting a retracement to the support zone and on the trendline and the NFP on Friday boosted the sell. I'm seeing price start moving to the upside from the coming week. Y'all can add this pair to watchlist.
bullish TVC:DXY A lot of the currencies in the basket of the DXY are looking weak against the USD and there are other factors known and unknown, both too long to list to support these ideas. The price action is leading the narrative that will be printed in the rags when the PA has broke the recent high that sent the DXY down for the retest. Printing hidden...
Good Day and I hope you are well, prev. outlook from 2024-03-13 Quote from my #3 Tesla update: "tl;dr: do or die here at 170 for the bulls. If we break below the bear channel line, bulls covering will fuel this further. Strongly bearish." and the second quote: "bear case: Nothing bullish about this stock at all. Bears are in full control and selling...
Price breaks recent low and fails to break recent high indicating in weakness to upside with the price respecting the OB near the daily price open we enter the trade at 0% drawdown looking to exit at a POI