The chart says it all, drop a comment if you have questions.
The chart says it all, set your alerts, and comment below if you take this trade! I have a second Gold short idea on my page, give it a look... You may agree with that idea more! Thanks and good luck!
Soybeans is looking decent with a nice bounce off of the GP and a technical swing failure of the local lows. The price must close above the parallel channel for me to hold this long.
I successfully road the recent rally from the lows ($76-78) for a nice trade and I am looking to fully exist the rest of my position and also start a short position around $83-83.2. A few reasons: - We are approaching the .5 fib retracement of the local high and low - We are about to hit the major uptrend that started back in 2020 (a rejection here will confirm...
Just an update on my post from yesterday. I am planning on taking a long in the green box. This is a bit riskier trade than I normally like to take, but I think it will yield well. Possible add just below entry at 80.5. (this is a key level of a descending parallel channel)
ETH has been taking a beating this month... but it will soon see a nice rally (if the rest of the market behaves). ETH is entering a key zone of support and just below it lays the volume profile that has been pulled from mid June. Along with the VP there is also a important descending parallel channel that will come into play. If the key zone is jabbed, it is very...
Crude having a decent pullback this AM, I am staying patient until at least the GP retracement from the local low to local high. If it isn't showing strength there I will wait to see how the orange trendline and/or the green parallel channel reacts. If we get a bounce off of one of those three levels I am expecting a rally back to the red parallel channel, this...
As Gold rebounds off of its lows I will be looking to start a short position as it enters the key resistance area (purple zone). I will stay patient to add most of the position on a final swing up to grab liquidity above the key zone and ultimately complete a bearish divergence. My short target is a macro golden pocket, the bottom of a macro parallel channel, and...
The bullish case relies fully on BTC and ETH catching some bullish legs very soon. If they continue their decent, Solana will break down from this flag pattern. Keep an eye on this one, it could yield great profits. Good luck!
I don't follow XRP anymore but this will be something to watch. I may trade the breakout when it comes.
Crude Oil looks like it has hit the key resistance for the day (Bottom of the ascending parallel channel). I'm expecting a pull back to around 93-93.5 and then a possible leg higher. May take another long around the golden pocket.
Crude is like a wood deck that needs a stain job right now. So far we have one coat of stain, but it needs to dry so we can apply the second coat. In this analogy, the price of Crude is the deck, the first coat of stain is the big drop we had today, the drying stage is a relief rally into $85.75, and the second coat is another smaller drop to the Golden Pocket...
We are seeing a 15 min bullish divergence forming on the Spy along with a nice bounce off of the orange trendline. I think this is a risky play mainly because of how bearish the market has been the past couple of days, but I think a small bounce to the top orange down trendline is very possible. I took a position at the bottom trendline. Wish me luck, stop at entry.
If BTC manages to close below the 2017 highs (roughly $19,500) we will 100% revisit $17k and then lower. $14-15k will happen sooner than most would like to think. If those levels don't hold I am looking at getting long between 12-13k. I have had a short position open for some time now and don't plan on closing it until these prices. Drop your analysis in the comments.
Oil has been getting smacked sense the 29th of Aug. losing nearly 17%. It is time for a bounce. Today we are getting a nice reaction at the major trendline that started back in Oct. of 2020. Not only is there an important trendline to consider, but we also have a descending channel that is also coming into play. This channel is also very important as it contains...
The reason I am posting this here is because Nov. Crude Futures doesn't get much traffic. My analysis is well thought out, give it a look!
Next week on the 5th of Sept. OPEC+ will have a meeting to talk all things oil. I am thinking they will pull back on production due to the massive decline in oil prices this week. (11.5% on Nov. Crude). With lower production, brings lower supply, lower supply brings higher demand! That being sad, I am looking to get long today or next week. On the chart I am...
The S&P 500 has tapped a midterm GP and a trendline that formed mid-July at $3,903. I am expecting a relief rally in the coming week up to the newest GP from the Aug. high and the Sept 1st low. Along with the GP there is a trendline resistance from the top of wave 5 to the top of wave B (I forgot to draw it in until after I posted this). This would complete wave D...