echnical Analysis: Resistance Levels: If EUR/JPY is currently near a significant resistance level, a reversal to the downside could be likely. Trend Indicators: Look for confirmation from moving averages (like the 50 and 200 MA) showing a bearish crossover, or if the RSI (Relative Strength Index) is overbought and signaling a potential pullback. Price Action: If there’s a bearish candlestick pattern like a shooting star or engulfing pattern forming at a resistance point, it could signal a short-term reversal. Fundamental Factors: A shift in Eurozone or Japan economic data (such as weak Eurozone growth or hawkish Bank of Japan statements) could provide further downside pressure on EUR/JPY. Geopolitical tensions or broader risk-off sentiment could also boost JPY strength as a safe haven. Key Levels: If EUR/JPY is at, say, 155.00 and you're targeting a 100-pip bearish move, the first target would be around 154.00. Watch for any support levels and trendlines around this point.
A rally to ATH is always a good sight to see but what I don't want to see is a fake out, especially in the higher timeframes like the weekly or daily. Candlesticks like doji's, shooting stars just above ATH can increase the likelihood of a retracement back down into previous inefficiencies. For the next two weeks, we all are going to be on a wild ride!
Brent price just began its uptrend and continued to go up for a couple of weeks, even months
Hims cranked into the supply recently and maintained a bullish posture. There is possibly a new demand zone forming at the most recent small bodied red candle. This would push up the supply zone to the swing high large bodied candle. I marked both candles accordingly. I will try to keep the daily chart updated since this is great for selling 1-3 week options. I did sell calls into the previous supply, and puts into the previous demand.
GOLD will continue to go up and break the record for the next week and Feb
The Sequel to one of my most famous TradingView Editors' Picks ideas: "20 YEARS OF SPY: IS THE BOTTOM IN?" In this video, I revisit the same SPY chart & go thru comments from the original post, which is very telling of what sentiment was like back in early 2023. Which looking back, that was the very beginning of this multi year bull market that we are currently in ORIGINAL POST: 20 YEARS OF SPY: IS THE BOTTOM IN?
AMEX:WEAT WEAT has been in a secular bearish trend for over 15 years. But that has not been without bullish bursts. However something happened to WEAT recently were it successfully broke out thru its 200 DMA in April of last year. In my opinion this signaled the beginning of a change in trend for WEAT. Normally stocks shift from Bearish to Range then to Bullish. They typically require a consolidation phase in the middle. WEAT ranged in 2019 after a bearish trend then broke out in 2020 for a 150% increase. However, I am not going to bet the farm on that. There is money to be made in trading the range. This is when we buy low and sell high as appose to momentum trade. I am going to buy WEAT @ $4.66 and sell half of my position at the 200 MA (about $5.20) for a 10% profit. From there I shall ride the rest to see how far we can go. Anyway, this is what I am doing with my money, you do you. Good luck.
This might be my greatest setup yet, we see prise was in a down trend on the daily we see prise broke the bearish trend line to the upside, then it created a bearish trend on the 4H it broke it again, now its moving up creating HH and LH, its corresponding with my fibs, lets see how it plays out, this is not a signal its just my thoughts, feel free to comment your thoughts , lets share knowledge.
Heromotoco is on crucial support of previous ATH, will it bounce back, time will tell. current market condition is not good, be very cautious while taking any trade.
Based on this simplistic analysis, post halving we appear to following a similar fractal. Will it start its next leg up in the next week or two?? Thoughts?