The Next Buy the Dip Moment ComingThe market has settled into a persistent pattern, making consistent new ATHs. Here's my prediction for the next All Time High.
Volume Indicator
Has Carvana Run Out of SteamCarvana ( cvna ) has been in a rally since mid-May and recently Carvana beat earnings by over 160%.
Shareholders who have been riding this profitable rally have raked in over 59% in unrealized gains. These same shareholders should now start to wonder if it's time to take some of that profit.
For online used car dealer Carvana, acquiring vehicles is less of a problem, said CEO Ernie Garcia, but the company faces a different kind of supply constraint.
Garcia said, "Over the last several quarters we've actually bought more cars from our customers than we've sold them. But we don't have the capacity today to certify as many of the cars as we could buy and we have more demand than we can handle as well."
The question savvy investors are asking is this. Has business for Carvana reached a ceiling for now, and therefore, has its stock price also reached the same point?
The stock price fell into a range of $328/support and $340/resistance for about two weeks before earnings. Then, after beating earnings, the stock price had a burst of momentum.
Now, the stock price, volume, and RSI have all turned lower while the economy is shifting and FUD enters the market.
So the question to ask must be; has Carvana's stock run out of steam for the next few months?
long On BTCUSD Fibonacci confluence zone in the puple box...Entry for LONG is here because there are no signs of smart money or institutional buyers getting out yet. Tons of money is still in the market and we will see clearly when they pull out but for now we stay in and go LONG again for a third snipe!
GBPJPY - 4 August Trade PlanSession Bias: Bullish
Daily: Bullish
4H: Bullish
30m: Ranging
4H Chart
30m Chart
30 July - GBPJPY Trade Plan 30 July - GBPJPY Trade Plan
It's Friday and End of Month so will just watch the plan and not going to trade
Session Bias: Bearish
Daily: Bullish
4H: Mixed
30m: Bearish
JSE:NPN NASPERS Do Not Get Sucked into Yesterdays RecoveryWe have been following the markdown of Naspers - see posts below. Yesterday there was a sharp recovery but one should not get caught up and think it is time to go long. Naspers remains week and the current bounce is just a retest of the yearly pivot levels. Naspers remains weaker than the market and there are no indications of a recovery. The bounce may indicate a consolidation range is starting, but it still looks like more weakness to come.
JSE:MRP Markup looking to test R300MR Price has been in a strong markup after the base from the covid lows. The stock is stronger than the market. The pullback has been on lower volume and we are now ready for a test of historic highs at R300.
29 July - GBPJPY Trade Plan29 July - GBPJPY Trade Plan
Session Bias: Bullish
Daily: Bullish
4H: Bullish
30m: Bullish
News
9:30 Consumer Credit(Jun)
9:30 Net Lending to Individuals (MoM)(Jun)
9:30 M4 Money Supply (MoM)(Jun)
9:30 M4 Money Supply (YoY)(Jun)
9:30 Mortgage Approvals(Jun)
GBPJPY
Clear bearish potential EURUSD 1hEvidence provided for bearish:
- Hit top of trend channel
- Reached demand zone
- Decreasing volume
- Candles with a long tail
This is educational rather than a tip. This is an easy strategy that might not work this time. After all, it works most of the time.
WALMART OUTLOOKThe chart looks extremely annoying, having lots of small candlesticks (->no Momentum=no trend).
I would recommend to watch for high volume plays.
As always I draw my expectation on how the stock could move in the future.
USDCAD Short (Daily)Sharp bounce off t resistance area/boll band, looking to target next area of demand, possibly going down lower. First marked rectangle would be TP1, other marked rectangle TP2. Small remainder of the position can be kept as a trailing stop loss, too.
TRADING IDEA , NOT AN INVESTMENT OPPORTUNITY. TRADE AT YOUR OWN RISK!
Xrp in a huge falling wedgeBullish pattern
Could make one more low around 0.5 firs. Depends on bitcoin
Declining volume with decline price on the daily = bullish
Whats your opinion?
JSE:TON Tongaat FailingWe had been seeing buying in Tongaat but that is over now. Now we see signs of weakness (SoW) that could take us back to the lows. The distribution was very weak and an acceleration of the markdown is now expected.
JSE:FSR Fistrand Failing at ResistanceA year back - see post below - we looked for push back to R55 - R60. After reaching this area of significant resistance on the weekly timeframe we have now seen a distribution trading range with a typical Wyckoff pattern. Selling pressure is seen in the volume and a change in character significant bar is indicating the start of a markdown to test the covid lows.
JSE:SOL Sasol Markdown Set to Gain MomentumAfter following the markup in 2020 - see posts below - we have seen a distribution trading range in our previous post. Now this markdown is set to gain momentum with high volume selling taking place. Today's reversal bar confirms the basis.
Diverging 3 Day MA Price Channel and RSIQuick chart showing two recent trends. On the left you see a 3 Day MA BTC price channel trending up while the daily RSI trends down, leading to the May Crypto Crash. On the right you have a 3 Day MA Bitcoin price channel trending down while the RSI trends up. An additional observation is that both trends coincided with waning volumes. Waning volume can indicate tired trends. Combined with the Bollinger Squeeze, Bitcoin seems coiled for a big move. Macro Long, Micro Agnostic. Follow us on twitter at @CoinBumpChart for more insights.
JSE:CFR Richmont Remaining Very StrongAfter the initial markup - see posts below - we have seen a very shallow pullback. The pullback showed a lot of effort (high volume) without response indicating that all available supply is being bought. Yesterday there was a significant range bar and the markup is now set to continue.
DDS Consolidating finding SupportDDS is showing that it has stopping volume coming in not allowing it to go any further south preparing to head higher to ATH’s.
AUDJPY - ShortThe very first time that Volume in down movement is greater than upward, it means we are ether in pullback after PSY, ST(A), or ST(B). All in all, it means we are close to the end of the uptrend.
After that, we will see that the movement to the down has more volume than up movements.
GOLD Future - 06 - Update 07/07/2021 and Forecast The Target Profits indicated last week were both taken.
Today the Long and Short Targets have been updated for the next 7 daily candles.
Totally from the forecasts published last two weeks, we took 9 short and 14 long points.
Good trade to all... ;-)
GBPCHF | SHORT | Areas of InterestDaily Trend: SELL
LP Sentiment: -23%
Looking for a pull back into the Sell-side imbalance area for a continuation back into the downward trend.
Focus on seeing this setup happen in the London Session.
Don’t forget to follow us on tradingview
Happy Trading
Mr Ionic
JSE:PRX Prosus Going SouthAs expected Prosus keeps following Naspers down - see posts below. However, Prosus is weaker than Naspers and has already broken the yearly pivot point and the recent redistribution remained below this. Again the high volume selling is seen indicating some urgency to dump the stock. Today we see the breakout of the recent redistribution trading range and this week could see more panic selling.
JSE:NPN Naspers Breakout Following the markdown of Naspers - see posts below. After a smaller redistribution range, we are seeing a break out of this smaller range today continuing the push lower. The next important level down is the yearly pivot point at R2800. In the smaller redistribution range, there was a particularly high volume upthrust (ut) indicating the selloff is gaining momentum and some panic selling is happening.
