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We've been pushing price higher in the dow, now we might be wrapping up Sell side before racking up more Buy side.
Support and Resistance Levels: Support Levels: These are price points (green line/shade) where a downward trend may be halted due to a concentration of buying interest. Imagine them as a safety net where buyers step in, preventing further decline. Resistance Levels: Conversely, resistance levels (red line/shade) are where upward trends might stall due to increased selling interest. They act like a ceiling where sellers come in to push prices down. Breakouts: Bullish Breakout: When the price moves above resistance, it often indicates strong buying interest and the potential for a continued uptrend. Traders may view this as a signal to buy or hold. Bearish Breakout: When the price falls below support, it can signal strong selling interest and the potential for a continued downtrend. Traders might see this as a cue to sell or avoid buying. MA Ribbon (EMA 20, EMA 50, EMA 100, EMA 200) : Above EMA: If the stock price is above the EMA, it suggests a potential uptrend or bullish momentum. Below EMA: If the stock price is below the EMA, it indicates a potential downtrend or bearish momentum. Trendline: A trendline is a straight line drawn on a chart to represent the general direction of a data point set. Uptrend Line: Drawn by connecting the lows in an upward trend. Indicates that the price is moving higher over time. Acts as a support level, where prices tend to bounce upward. Downtrend Line: Drawn by connecting the highs in a downward trend. Indicates that the price is moving lower over time. It acts as a resistance level, where prices tend to drop. Disclaimer: I am not a SEBI registered. The information provided here is for learning purposes only and should not be interpreted as financial advice. Consider the broader market context and consult with a qualified financial advisor before making investment decisions.
Price has reacted just as expected around the grey boxes. If we can break up I think the red levels will be important to study how price forms. This will provide a good insight into where price could go next.
DXY (US dollar index) May continue to wax stronger! From the technical standpoint, we can see how price formed a double button and successfully broke the neckline. This is an insight that buyers are likely to dominate the market and trade a new high! Coming week we anticipate retail sales report and Fed rate cuts. It’s good we stay informed and plan accordingly for the week!
After Bitcoin's Fibonacci channel breakout, there are three possible TP levels, marked in red. My personal opinion is that the first level might find sellers, leading to a test of the 83k level. At this point, I anticipate people flooding into the market, triggering FOMO (Fear of Missing Out). This could result in a temporary pullback, which I don't see as a problem but rather as a potential buying opportunity. During bull markets, it's common for prices to rise without providing clear buying opportunities. The chart includes an imaginary price movement, reflecting my expectations. Whether it plays out or not is irrelevant. What truly matters are the price and trend. This is not financial advice.
Key Indicators On Trade Set Up In General 1. Push Set Up 2. Range Set up 3. Break & Retest Set Up Notes On Session # NIO Inc - ADR (Extended Hours) - Double Formation * 6.05 USD | Resistance Area | Reversed * 3.55 USD | Support Area | A+ Set Up | Subdivision 1 - Triple Formation * Retracement | Full Survey | Short Entry At 7.65 USD | Subdivision 2 * Pennant Structure 1 & 2 | Downtrend Entry Survey * Behavioural Time frame | Daily Settings | Subdivision 3 Active Sessions On Relevant Range & Elemented Probabilities; London(Upwards) - NYC(Downwards) Conclusion | Trade Plan Execution & Risk Management On Demand; Overall Consensus | Sell
One of the strong projects that hasn't seen significant growth compared to the market is ORDI . If it breaks out of this trading range, it has the potential for a good upward movement. Keep it on your radar :)
XRP/BTC has a very simple range pm the weekly. I would like to see a big flash dump before making any new move higher, especially considering RSI has reached around 88. To keep momentum around such a high RSI, I think it will need to see a big pullback into liquidity for a boost into new highs.
BINANCE:ATOMUSD | Buy Entry executed on daily chart. Daily Anchored VWAP support found at $7.28 and also it is 50% Fib retracement area as well. Note: Green Yellow Candle. It is a Buy Signal triggered on daily candle close. Following candle is confirmation candle. As it broke the high of Green Yellow Candle entered long with stop loss. Focus on risk management. Don't let your winning position into loss.