It’s Sunday and it’s raining here so I thought I’d write up a post. I was going to review a few alt coins but presently alt movement depends on what btc is going to do so what’s the point of doing alts first. Also, as the title says, I’ve been learning a lot about forks (courtesy of KingCobra) and cycles (courtesy of CamelFinance) which both have made my life a lot easier. Previously, the last few years, I’ve concentrated on elliot wave which is fine and great, but it takes an awful lot of time to try and chart all the coins I’m following, whereas, as a swing trader, its a LOT easier and WAY LESS time consuming to us forks and cycles to estimate pa movement. Don’t get me wrong, elliot wave is still an important aspect I use, amongst other things, but again, as a swing trader, long and short term can be tracked WAY easier with cycles and forks. So cycles. As per Camel, we’re now in the range for a weekly cycle low. Camels cycle indicator, which I’ve subscribed to, shows the “estimated” weekly cycle low happening between March 8-20th. Many people out there are saying end of Feb (28th) is a BIG day for btc/markets. So I’ve used Feb 28 as my cycle low date in the 4h chart above description (the white arrows). So cycles. As per Camel, we’re now in the range for a weekly cycle low. Camels cycle indicator, which I’ve subscribed to, shows the “estimated” weekly cycle low happening between March 8-20th, and many people out there are saying end of Feb (28th) is a BIG day for btc/markets. So I’ve used Feb 28 as my cycle low date in the 4h chart above description (the white arrows). Now forks and the 4h chart. Using knowledge derived from KingCobra, in the chart above there are 2 forks drawn. The dashed white lines designate the boundaries for the forks to help you identify them. The chart is in Linear scale and both forks are mode “schif”. As you can see in the upward sloping fork the all important meridian line has been touched several times shown via the green circles. In the downward sloping fork the meridian line has been touched again several times shown via the red circles. So where do I think btc is going. Well “if” btc drops on Feb 28 or thereabouts, “if” pa hits the meridian line again on the downward sloping fork, that puts pa at 91.1k. If I change the fork to “modified shcif” shown in chart below, pa hits the “median line” at 86.5k which also matches up with the 31% fib level retracement also used by KingCobra regularly. https://www.tradingview.com/x/bnggS9Tl/ Now I said “if” btc drops because as per Camel, we could have simply more sideways action to get a “timed” cycle low (sometime between now and Mar 20th) and blast off from there. I say blast off because as per the cycle chart, this bullrun has been moving in steps increasing by doubling in price then weeks of sideways action, then another step up. This next step up could take btc to the 180k level whereas using pitchforks and KingCobras method a cycle top is estimated around the 150k mark. https://www.tradingview.com/x/v1Fl7Prq/ indicators. I haven’t included any indicators but suffice it to say, the 1D, 3D and 1W RSI, SRSI and MacD all show a weakening downtrend although all are showing near the bottom of their scales. To me that says a little more downtrend with a reversal uptrend coming. Having said all that, we could be entering a period of economic instability, turmoil and/or recession where markets an btc/crypto all drop for the next several months or a year which would mean that btc and the markets have reached their tops followed by a decline in everything, party’s over, short short short. The next week or three will show us what’s what so be prepared either way. My thoughts, not financial advice Oklah. Cheers
A symmetrical triangle was formed. In a symmetrical triangle, the breakout direction usually follows the trend, in this is case it is an upward breakout. However, there's a high possibility that it breaks downward. Therefore, wait for the breakout to happen before trading the breakout. Alternatively, we can trade within the symmetrical triangle Trading Strategy: Option 1: Trade when the candle closes outside of the triangle. Break upwards: Take profit at 200 Break downwards: Take profit at 40 Stop loss position: 6% from breakout price Option 2: Trade inside the symmetrical triangle, when the price hits the lower trend line. Place a buy position with take profit when the price hits the upper trend line. Stop loss position: 6% from the upper or lower trend line.
Hi I am very encouraged by my PLTR trade idea to test 116, 121 in my previous post. They certainly do respect the Fib Extension levels. This time, I am applying Fib Retracement to AMZN, which I think will bounce back to 0.28 (222) , 0.38 (226) and even 0.5 (229) , from it current levels of 216. Secondly if you observe the daily charts, everytime RSI dips below 30, it's a buying opportunity. (Do note: there are a couple of times when RSI double dipped to present a buying opportunity.) All the best!!!!
This is the Ethereum CME chart. As you can see, there is a gap around the 3236 level. Given the bearish trend in Bitcoin dominance, there is a possibility that this gap will be filled before a drop. If the gap is filled before the drop, Ethereum could move back toward lower levels. Let's see what happens. It's the weekend, and volumes are low. The market has been ranging for a while, pumping and dumping without a clear trend. Don't trade without stop-loss and risk management, and avoid emotional trading Comment if you have any questions Thank You
Hello traders! ? If you're thinking of buying DOGE or are already in a position, you need to read this! Hopefully, this analysis will provide helpful insights for everyone. Bullish Scenario: After touching the daily level, DOGEUSDT has shown a strong bullish reaction with momentum to the upside. The price has entered an accumulation phase, creating a significant supply/demand zone on the 2-hour timeframe. A bullish scenario is emerging, but confirmation will come only after breaking the 2-hour supply zone. If that happens, it could present a great entry opportunity to catch the beginning of the upward move. Enjoy ?
check out how beautifully the price has respected Gann Lines. a great opportunity to buy at these levels.
After the hack attack on Bybit, the exchange is under buying pressure to restore 1.5 billion USD in Ethereum. Meanwhile, we have a nice chart setup after breaking out of the downtrend and retesting.
An upmove is highly possible after the sideways shift. i see a consolidation in this 4HR TF, so its wise to trade upmoves in LTF. Trade with care use a STOP LOSS
? 4-Hour Technical Analysis (XAU/USD) Key Levels: Support: $2,930 Resistance: $2,940 Price Patterns: Range Movement: Price is consolidating within the $2,930 – $2,940 zone. Candlestick Signals: The presence of doji candles and long wicks indicates market indecision. Indicators: RSI (Relative Strength Index): Hovering around 50, signaling market equilibrium. MACD: The signal line is near the zero line, reflecting a possible consolidation phase. ? Summary: If the price breaks above $2,940, it could climb towards $2,955. On the downside, breaking below $2,930 might push the price to $2,910 or lower. ? Tip: Short-term traders can watch for a breakout or breakdown and use proper stop-loss strategies to manage risk. ? Daily Technical Analysis (XAU/USD) Key Levels: Support: $2,906 Resistance: $2,938 Moving Averages: 50-day EMA: $2,895 200-day EMA: $2,800 If the price stays above $2,938, the bullish trend could continue. On the downside, $2,906 acts as the first support, while the 50-day EMA around $2,895 serves as the second support level. ? Weekly Technical Analysis: Long-term Trend: Bullish Key Levels: Support: $2,725 Resistance: $2,790 If the price breaks above $2,790, the next potential targets would be $2,850 and $2,900. Conversely, a rejection at this level could push the price toward $2,725 or even $2,600 in a deeper correction. ? Summary: Traders should closely watch the $2,938 resistance in the daily chart and the $2,790 resistance in the weekly chart. A breakout or rejection at these levels will likely define the next price movement for gold. ⚠️ Remember: Financial markets are inherently risky. Always use proper risk management and conduct thorough analysis before making any trading decisions. @hesamdrgym @hesam.darvishzadeh ----- instagram
Technical Breakdown Gold has been trending inside a well-defined parallel ascending channel, respecting both the support and resistance levels. Currently, price is testing the lower boundary of the channel, which has acted as a strong support multiple times in the past. Key Observations : ✔️ Support Zone : Price is bouncing off the channel's lower boundary, indicating a potential bullish reversal. ✔️ Confluence Factors : This area also aligns with a previous structure support level, making it a strong buy zone. ✔️ Risk-Reward Ratio : The trade setup offers an excellent risk-to-reward ratio, with a well-placed stop loss to minimize risk. ? Trade Setup : ? Entry: Around $2,950 (Confirmed support bounce) ? Target 1 : $3,000 (Mid-channel resistance) ? Target 2 : $3,050+ (Upper channel resistance) ? Stop Loss : Below $2,900 (Invalidation level) ? Trading Tip: Always wait for confirmation like bullish candlestick patterns (pin bars, engulfing candles) before entering. Managing risk with proper SL placement is crucial. ? Do you agree with this analysis? Let me know in the comments & share your thoughts! disclaimer trading involves high risks