US30 LONGLooking for US30 to continue its upwards trend once it successfully breaks and retests the ascending triangle it has printed. I believe we are headed back to 40k Longby BlackSheepFinancial11
EGX30 OUTLOOKβ¦.El ClΓ‘sico Unfolds: Barcelona Battles Real Madrid In the highly anticipated matchup between Barcelona and Real Madrid, akin to the recent market dynamics in EGX30, a notable shift in sentiment is witnessed. The sequence of three red candles reflecting a downtrend mirrors the tactical back-and-forth in the early stages of the game. The emergence of a green doji candle signifies a period of uncertainty and strategic positioning on the field, while the subsequent red hammer candle, reminiscent of a long lower wick, hints at strong offensive plays and potential game-changing moments in favor of one team. The candle patterns observed, particularly the hammer candle and the preceding doji, point towards a potential reversal in momentum from a defensive to an attacking stance. With support levels like immediate backing around key ranges and psychological stronghold at strategic points like the 26,000 level, the teams maneuver around these zones akin to players seeking strategic advantages on the field. Resistance levels, such as the impending challenges presented by 27,000 and the formidable 61.8% retracement point at approximately 27,316, act as critical hurdles to overcome for both teams aiming to secure dominance in the game. Moving averages, similar to analyzing player performance over a season, offer insights into the ongoing momentum and potential shifts within the match. Meanwhile, indicators like the Relative Strength Index (RSI) and the MACD (Moving Average Convergence Divergence) serve as valuable tools akin to understanding player stamina and making strategic substitutions to turn the game around in one's favor. Amidst the volume analysis spotlighting the intensity of actions and reactions by both teams on the field, indicators like Fibonacci retracement levels become the strategic playbook for setting and surpassing performance targets and breaking through crucial resistance zones for a victorious outcome. Just as in football, where every pass, shot, and tackle can shape the final result, in the world of market analysis, each candlestick pattern, support level, and indicator plays a vital role in determining which team emerges triumphant in this exhilarating face-off between Barcelona and Real Madrid. _______βββββ______ Recent Price Action and Candle Patterns - Three Red Candles: This indicates a clear downtrend driven by selling pressure. - Green Doji Candle: Signals market indecision; it represents a potential weakening of selling pressure or the emergence of buyers. - Red Hammer Candle: The long lower wick indicates strong buying interest at lower price levels, suggesting a potential reversal of the downtrend. Together, these patterns suggest a potential shift from bearish to bullish sentiment. The formation of the hammer candle after a series of red candles and the doji points to a possible upward trend reversal. We will use Fibonacci retracement levels and recent price action to determine potential support and resistance levels. Support Levels 1. Immediate Support - Around 26,227 to 26,695 - Significance: This range is indicated by the long lower wick of the hammer candle. It shows a significant buying interest where price action encountered strong support. - Reasoning: The long lower wick specifically emphasizes a potential reversal zone due to the buying pressure that pushed the prices back up from around 26,227 to 26,695. 2. Psychological Support - 26,000 - Significance:Round numbers often act as psychological support levels. - Reasoning:Traders typically place buy orders around such levels, expecting a bounce or reversal. 3. Fibonacci Support - 50% Retracement Level (~26,528)** - Significance:The 50% retracement at this range indicates strong support given it is a common retracement level where prices often find support during a pullback. - Reasoning:Falling back to this level often symbolizes a reasonable correction in the overall trend. Resistance Levels 1. Immediate Resistance - Around 27,000 - Significance: This level is close to where the upper wick of the recent hammer candle ends (~26,972), making it a psychological resistance level. - Reasoning: Psychological levels such as 27,000 often act as significant barriers due to the tendency of traders to place sell orders around these round numbers. The proximity of this level to the recent hammerβs upper wick further solidifies it as a critical resistance point. 2. Fibonacci Resistance - 61.8% Retracement Level (~27,316) - Significance: The 61.8% Fibonacci retracement line is a key level that often acts as a resistance in technical analysis. - Reasoning: The 61.8% retracement is known as the βGolden Ratioβ and often predicts substantial resistance as prices have historically reacted strongly to this level. 3. Previous Highs and Fibonacci Resistance - 78.6% Retracement Level (~28,051) - Significance:This level, indicated as Target 1 on the chart, is crucial because it combines the Fibonacci 78.6% retracement with previous highs, forming a strong resistance zone. - Reasoning: The 78.6% retracement level is significant in technical analysis as prices often reverse from this level. When this level also coincides with prior high points, it becomes an area where significant selling pressure is expected, adding to the resistance strength. 4. Confluence Resistance - Previous Peaks and Fibonacci Extensions (~29,300 to 29,800) - Significance: This region, marked as Target 2, aligns with multiple technical signals, including prior price peaks and Fibonacci extension levels. - Reasoning: This confluence zone is critical because multiple resistance signals converge here. The presence of previous peaks around this level, alongside the 127.2% Fibonacci extension, further establishes it as a heavy resistance zone due to the likelihood of accumulated sell orders and profit-taking activities from traders. Moving Averages: - The price is oscillating around the moving averages (such as the 50-day and 200-day moving averages). - 50-Day MA:Acts as a near-term indicator of price momentum. Crossings of the price above or below this level can signify short-term bullish or bearish trends. - 200-Day MA: This is a key long-term indicator. If the price breaks above this, it could solidify the bullish reversal narrative. - Golden Cross/Death Cross: If the 50-day MA crosses above the 200-day MA (Golden Cross), it would be a strong bullish signal. Conversely, if it crosses below (Death Cross), it would indicate bearish sentiment. - Relative Strength Index (RSI) - Current Level: The RSI level can provide insights into whether the index is overbought (>70), oversold (<30), or in a neutral zone. - Analysis: Given the recent downtrend followed by the potential reversal signals, a bounce from oversold levels towards the 50/60 level on the RSI would indicate increasing buying momentum. - MACD (Moving Average Convergence Divergence): - MACD Line vs Signal Line: A bullish crossover where the MACD line crosses above the signal line suggests upward momentum. MACD (Moving Average Convergence Divergence): - MACD Line vs Signal Line: Look for a bullish crossover where the MACD line crosses above the signal line, suggesting an upward momentum. A continuation of positive histogram bars (above the zero line) can reinforce the bullish sentiment. - Divergence: Positive divergence between MACD and price action (where MACD makes higher lows while the price makes lower lows) can also suggest decreasing bearish momentum and potential bullish reversal. Volume Analysis - Volume Confirmation:It's important to observe the volume accompanying recent price actions. High volume during the formation of the hammer candle would indicate strong buying interest and substantiate the bullish reversal hypothesis. Conversely, if volume declines while prices rise, the current trend might lack conviction. Additional Observations - Fibonacci Retracement Levels: - 61.8% Level (~27,316): This is a critical resistance level. If the price can break above this with substantial volume, it would be another strong indication of bullish momentum. - 78.6% Level (~28,051): Already identified as Target 1, breaking this level could set further bullish targets toward higher Fibonacci extension levels.Longby ICHIMOKUontheNILE1
What the last PMI USD news did to DJ30News was slightly negative on USD but it pushed DJ up. Is the (tech-) industry currently connected to Eastern companies like TikTok aso. ? Correlation between Gold and DXY is currently out of order, like the last time in 2008 or 2020. Lets see where it wants to go in the next hour and decide then. Todays News are positive on DXY.Dby Underlayer0
NASDAQ SHORTI am selling NASDAQ with low market value, due to a structural breakdownShortby soychrisalas1
#Banknifty:6th June#Banknifty:6th June Step1: 49464 -R1 if hit in the morning exit c/f long. Step2: 48509 -S1....Enter long. Step3: Swing high 50094 possible -R2. Step4: Dont carry any long...for Friday.by rudrajit_deb1
#Banknifty:6th June#Banknifty:6th June Step1: 49464 -R1 if hit in the morning exit c/f long. Step2: 48509 -S1....Enter long. Step3: Swing high 50094 possible -R2. Step4: Dont carry any long...for Friday.by rudrajit_deb0
S&P 500 - fresh highs on the horizon?Yesterday saw another swingy session for US stock indices. All the majors began the day on the backfoot, but subsequently recovered their poise to end near their highs. They were all a touch firmer this morning, with the S&P 500 back above 5,300 in early trade. That places the index within 50 points, or 1%, of its record intra-day high from a fortnight ago. Could the last couple of weeks of pull-back and consolidation have provided the reset required ahead of a rally to take stock indices to fresh record highs? Maybe. But stock market volatility, as measured by the VIX, has also picked up a touch over the last fortnight. One interpretation is that itβs getting back to more normal levels after falling to lows last seen in 2018. Another is that Mayβs decline was a final downside blow-off ahead of a more protracted rally as the US stock market becomes a riskier place to invest. Perhaps weβll get more clarity as the month progresses. Certainly, thereβs plenty in June to influence market behaviour, with this weekβs emphasis on the US employment outlook. Yesterday, the JOLTS Job Openings number fell to its lowest level in three years, having declined steadily since the summer of 2022. Today the ADP private payroll release came in weaker than expected. Then thereβs the weekly Unemployment Claims tomorrow and the all-important Non-Farm Payroll numbers on Friday. Maintaining maximum employment is one half of the US Federal Reserveβs dual mandate, and all this data comes ahead of next weekβs FOMC monetary policy meeting. The Fed is expected to keep rates unchanged with an upper bound of 5.50%. But the meeting also sees the release of the FOMCβs quarterly Summary of Economic Projections. Here weβll get an update on what individual FOMC members are forecasting for inflation, the Fed Funds, unemployment and economic growth for this year and beyond. This could provide the clearest insight on where interest rates may be by year-end.by TylerNorcross0
.382 retrace points to 5580 rally...?SP500 Short Term Bullish Update: Target 5550-5600 As of June 5th, 2024, Iβm providing a short-term bullish update on the SP500 (ticker SPX). My expected rise is to the 5550-5600 range with a potential overshoot to 5400, which should be short-lived, assuming 5192 holds as support. Long-term, I remain bearish on the SP500, believing we are in a grand supercycle fifth of the highest degree. Key Points: Short-term bullish target: 5550-5600 Potential overshoot: 5400 (short-lived) Critical support: 5192 Long-term outlook: Bearish due to grand supercycle Longby candlestickninja0
DXY BEARISH DXY 1W: has broken below both the ascending support line and the EMA21, which are significant bearish signals. The MACD has shown a bearish crossover, indicating further potential downside. These factors combined suggest a bearish outlook for the U.S. Dollar Index. But we'll have to wait for a weekly close for confirmation.Shortby DigitalMarkets1
DJ30 broke DKL bullishChances are this is going to reach higher, we are still in the pullback of a swing low, so careful, this could become a swing high. Also News in few minutes could reverse the course. So i want to wait until it calms down. You can take the bullish move with higher risk (150/300 pip SL) This is not my trade i rather stay patient. Keep an eye on RSI, as it shows possible reversal, but RSI is not 100% accurate especially when in Supermomentum. I like taking trades in multitimeframe supermomentumDLongby Underlayer0
$NIFTYgot the gap up day before but did not expect such a deep retrace to the 200 ema on the plus side its done and dusted casue going back below that means a whole lot of more pain for now looking for a move up then back down to test the blue line before we make a run for new ath hats off to those who caught the move both ways remember HTF trend is up and this tag of the 200 was after 8 monthsLongby CompoundingGain0
NASDAQNASDAQ: Sell Open: 18660 SL: 19000 TP1 : 18000 TP2 : 17700 TP3 : 16700 ================ Disclaimer: Any content in this text does not constitute investment advice. This text provides an objective description of the market situation and should not be considered an offer to sell or a solicitation to buy. Any decisions made based on the information provided in this text are your personal responsibility. Any investments made or to be made should be analyzed based on your financial situation and personal goals. Shortby ahmedqotb1981Updated 4429
US30 ( ADP _ ISM )US30 Tendency the price is a long pressure in between 38,680 and 38,560 Turning level : The turning level between 38,680 and 38,560 so as long as the price above this level, there will be a bullish trend resistance level : trade above turning level between 38,680 and 38,560 , the price will rise to 39,015 and 39,185 support level : braking a turning level 38,560, the price will reach the support level of 38,280 and 37,940 corrective level : price will attempt between 38,680 and 38,560 , correct itself before long ULongby ArinaKarayi3
SPX ( ADP_ ISM )USSPX500 Tendency the price is under bearish pressure between 5,302 and 5,319 Turning level : The turning level between 5,302 and 5,319,so as long as the price below this level, there will be a bearish trend resistance level : Breaking the turning level 5,319 , the price will rise to 5,342, as long as the price stabilize this level ,there will be a new peaks support level : The trading stabilizing below 5,319 , the price will reach the support level 0f 5,241 and 5,193 corrective level : price will attempt 5,319 , correct itself before falling Economic :For today we have some news that will affect the market trend, such as ADP-ISM Shortby ArinaKarayi3
Dow Jones/US30 analysis Us30 looking for continues its uptrend... upper trend line breaked one more long move on its way ..1:3 RR MM is important π Entry : 38750 SL : 38650Longby DNA_Trader_Officials1
S&P500 Short-term accumulation before strong rise.The S&P500 index (SPX) has turned sideways since practically May 16 and, supported by the 1D MA50 (blue trend-line), is consolidating. Even though this consolidation is taking place at the top of the 1.5 year Channel Up (Fibonacci 0.0 - 0.236 range), it is similar in some way to the accumulation of April - May 2023 (also a little like November - December 2023), which was again supported by the 1D MA50. As a result, as long as the price remains above the 1D MA100 (green trend-line), which provided the crucial Support on April 19 and started the recovery from the -6.65% decline, we expect a similar Channel Up to start when the accumulation ends. Our short-term Target is 5500 (top of 1.5 year Channel Up). ------------------------------------------------------------------------------- ** Please LIKE π, FOLLOW β , SHARE π and COMMENT β if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- πΈπΈπΈπΈπΈπΈ π π π π π πLongby TradingShot19
US 30 Summer Rally Trade PlanAh, the sweet smell of summer! π While everyone else is hitting the beach, we're hitting the charts. The US 30 has dipped into a Daily and H4 Demand zone, teasing us with a lovely ChocH on the H2 Time frame. π But don't fret! The low of 37,699.8 is our rock-solid structural low. If it gets taken out, we might have to rethink things, but for now, it's looking like a prime time for a summer rally! π΄ Plan A: The Summer Sizzle βοΈ Buy from 38,187.5 and target 39,000! π We're betting on the sunny side of the street. If the price hits 38,187.5, we're jumping in with both feet and riding that wave all the way to 39,000. πββοΈ Plan B: The Backup Plan π If the price doesn't cooperate and our buy limit doesn't trigger, we'll hang tight. Wait for a break in structure at this point, and we'll update our trade plan accordingly. Flexibility is key! π§ββοΈ Ultimately, we're looking to build on longs here to take out the highs. π The Short Game: Not Just Yet! β³ Shorts on the US 30? We'll pass for now. π Indexes aren't our favorite thing to short, especially with the summer vibes in the air. We're holding off until November. After this upside move, we'll get in long for the Santa Claus Rally. π So, pack your trading gear and let's make this summer one to remember! ππ Longby Mike_SnDUpdated 5
USNAS100 (Bullish Possibility after correction!!!)Technical Analysis the price reached around the resistance line and dropped to touch its support line, and again reversed so now the price is still above the support line, Bullish Scenario: As long as the price remains above 18435, it is likely to reach 18,735 and potentially 18,820. Bearish Scenario: A stabilization below 18435 would suggest a bearish trend, targeting 18235 and 18150. Pivot Line: 18435 Resistance Levels: 18650, 18820, 18940 Support Levels: 18250, 18140, 17880 Today's range is expected to be between the support at 18235 and the resistance at 18940.Longby SroshMayiUpdated 9
Small-capΒ΄s time will come!I think that russell is quite a good bet right now. both in terms of value, but indeed also technically.Longby ScienceBasedTrading2
USNAS100 (ADP _ ISM)USNAS100 Tendency the price is under bearish pressure 18,800 Turning level : The turning level between18,715 and 18,800 ,so as long as the price below this level, there will be a bearish trend resistance level : Breaking the turning level 18,800 , will reach 18,895 , and then will have anew peaks support level : The trading stabilizing below 18,800, the price will reach the support level of 18,430 and18,234 corrective level : price will attempt between 18,717 and 18,800 , correct itself before falling Shortby ArinaKarayi2
SPX500Pair : SPX500 Index Description : Break of Structure and Retracement RSI - Divergence Falling Wedge as an Corrective Pattern in Short Time Frame Consolidation Phase Completed " 12345 " Impulsive Wavesby ForexDetective2
Levels discussed on 5th June Livestream 5th June DXY: Could range between 104 and 104.30, Looking to break 104.40 for further upside to 104.80 NZDUSD: Sell 0.6170 SL 20 TP 40 AUDUSD: Sell 0.6630 SL 15 TP 35 USDJPY: Buy 156.60 SL 30 TP 80 GBPUSD: Looking for reaction at 1.2820 EURUSD: Test and reject resistance, Sell 1.0875 SL 20 TP 40 USDCHF: Buy 0.8935 SL 20 TP 75 USDCAD: Buy 1.3690 SL 20 TP 90 (BoC Rate decision pending) Gold: Below 2328 could trade down to 2318by JinDao_Tai6