In this video, we will analyze the NASDAQ futures for Friday, May 2nd. Markets are looking tradeable again. NQ has swept an old high, and retraced today. I like the location of the bullish FVG right below... which price has just tapped into a little while ago. Look for the reaction from that +FVG, and trade accordingly. Enjoy! May profits be upon you. Leave any questions or comments in the comment section. I appreciate any feedback from my viewers! Like and/or subscribe if you want more accurate analysis. Thank you so much! Disclaimer: I do not provide personal investment advice and I am not a qualified licensed investment advisor. All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. I will not and cannot be held liable for any actions you take as a result of anything you read here. Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on this channel, expressed or implied herein, are committed at your own risk, financial or otherwise.
Technical Analysis: Signs of a Bottoming Out USD/CAD’s technical picture is beginning to shift from bearish to cautiously bullish. Let’s start with what the daily chart is telling us. Over April, the pair’s decline started to stall around the 1.3780 – 1.3810 zone, which corresponds to a second support level (S2) on pivot point charts. In fact, 1.3780 has been identified by analysts as a “critical support”areaeconomies.com, and the market has thus far respected this floor. For roughly two weeks, prices have been consolidating in a tight range just above this support, roughly between 1.378 and 1.388. This kind of sideways basing after a drop indicates that selling pressure is no longer as aggressive – the CAD hasn’t been able to push the USD convincingly below the support line around 1.38. Several momentum indicators are aligning to suggest that the worst of the downtrend may be over: MACD Crossover: The Moving Average Convergence Divergence (MACD) indicator, a favorite tool for gauging trend changes, is on the verge of a bullish crossover (i.e. the MACD line is crossing above the signal line). As of late April, daily MACD had already flipped to a “Buy” readingfortrade.com. A bullish crossover after a prolonged down-move implies the downward momentum is fading and buyers are starting to gain the upper hand. We’re also seeing the MACD histogram (which visualizes the difference between the MACD and its signal) tick up from deeply negative values toward the zero line, reinforcing the idea of a momentum reversal. RSI Rising from Oversold: The Relative Strength Index (RSI), which measures the speed and change of price movements, dipped into oversold territory during the April sell-off. (Typically, an RSI reading below 30 is considered oversold and a possible sign of an overextended move.) In late April, USD/CAD’s daily RSI was hovering in the low 30sfxstreet.com. Now, in early May, the RSI has climbed upward, moving through the 40s and toward the mid-50s. This upward turn suggests that the prior bearish momentum is abating – in other words, sellers are running out of steam and buyers are gradually stepping in. Notably, the RSI made higher lows even as price made a lower low around 1.378, a classic bullish divergence hinting that the downtrend was losing strength. Support and Price Action: Price action itself underscores the potential for a bottom. The 1.3800 area (pivot S2)has been tested multiple times and remains intactfxstreet.com. Each dip into the high-1.37s was met with buying interest, as evidenced by candles with lower wicks and quick recoveries back above 1.38. This demand zonearound 1.378–1.381 has effectively absorbed selling pressure. One trader on TradingView noted that “USD/CAD is bouncing off a major daily support level around 1.38100 after a strong bearish move. Price action shows early signs of bullish interest, with the potential for a correction toward the 50-day Simple Moving Average.”tradingview.com. The fact that the pair is holding this support is crucial – it provides a clear line in the sand. As long as 1.3780 holds, the bullish thesis remains alive. A break below that would be a warning sign, but so far the floor has held firm. Ichimoku Cloud and A Shift in Trend: The daily Ichimoku cloud on the chart (the colored cloud area representing support/resistance and trend) is still positioned above current prices – a legacy of the prior downtrend. However, the pair’s consolidation means it is no longer plunging deeper below the cloud; instead, it’s inching closer to the cloud’s base. Often, when a trend is about to reverse, we see price start testing the underside of the Ichimoku cloud or the baseline (Kijun-sen). While USD/CAD hasn’t broken out above the cloud yet, it’s noteworthy that the cloud ahead is thinning and flattening. A thinner cloud can be easier to break, and a flat Kijun line (baseline) around the 1.40–1.41 area could act like a magnet for price if bullish momentum kicks in. In short, the Ichimoku system is saying the trend is still technically bearish, but conditions are improving for a potential bullish breakif buyers can push the price into the cloud. Another technical element worth mentioning is the moving averages. During the decline, USD/CAD stayed below short-term moving averages, which acted as resistance. Now we see price testing those moving averages from below. For instance, the 10-day exponential MA and 20-day MA lurk around 1.3870–1.3900 – right where the current consolidation top is. A break above 1.39 would not only clear this minor consolidation range but also put the price back above those moving averages, a bullish sign. Beyond there, the 50-day SMA (around the mid-1.41s) could be an initial target for a rebound. All in all, the technical setup is showing early glimmers of a reversal: a solid support base, momentum indicators flipping positive, and weakening bearish forces. This lays a technical foundation for the argument to go long USD/CAD. Why This Could Be an Opportunity to Go Long USD/CAD Bringing together the technical signals and the macro context, the case for a USD/CAD rebound is getting stronger. Here’s a quick recap of why early May 2025 may be an attractive entry point for USD/CAD longs (buying USD against CAD): Rock-Solid Support: The pair has a concrete floor around 1.3780–1.3800 that has held firmly through multiple tests. This pivot support (S2) level has proven its strengthfxstreet.com, indicating significant buying interest at those lows. A strong support means downside risk can be well-defined (for example, one can place a stop-loss just below it in a trade scenario), and it often serves as a launchpad for rebounds when the broader trend shifts. Momentum Shift to Bullish: Key momentum indicators are flipping in favor of USD momentum. The MACD on the daily chart has turned upward, signaling waning bearish momentum and a possible bullish crossover – a classic early reversal sign. Likewise, the RSI has risen out of oversold territoryfxstreet.com, showing that the prior selling momentum is exhausted. In fact, a short-term trading model as of Apr 29 showed multiple daily indicators (MACD, RSI, Stochastics) all giving “Buy” signals for USD/CADfortrade.com. When formerly pessimistic indicators start signaling “buy” in unison, it’s often a telltale sign of a trend ready to change direction. Bullish Price Action Clues: Price is speaking volumes: higher lows are forming on intraday charts and the pair is making attempts to push higher within the recent range. We’ve observed bullish candlestick patterns like small daily dojis and hammers near the lows, reflecting indecision and failed attempts by sellers to break lower. This kind of consolidation after a drop often indicates that the next significant move could be up, especially given the momentum backdrop. Additionally, if USD/CAD breaks above the 1.3900 resistance (which is the upper bound of the consolidation and near the 10-day/20-day moving averagesfxstreet.com), it would mark the first higher-high in weeks – essentially confirming the short-term trend reversal. USD Fundamentals Support a Rise: The U.S. dollar’s broader fundamentals are relatively robust. The Fed’s higher-for-longer stance (with only modest rate cuts expected later) keeps USD interest rates attractiveam.jpmorgan.com, and the U.S. economy has been outperforming many peers in growth, which has underpinned the USD’s strengtham.jpmorgan.com. This means any USD weakness narrative might have been overdone – if traders realize the Fed won’t ease as much as hoped, USD could get a second wind. A stable or rising USD on the global stage directly benefits a long USD/CAD position. Canadian Headwinds (Oil & Risk): The Canadian dollar, in contrast, faces a few headwinds. Commodity support is lacking – with oil prices recently in the doldrums at 4-year lows around $58investingnews.com, a key pillar of CAD strength has crumbled. Unless oil stages a dramatic comeback (which is not expected immediately, given only a moderate rebound to ~$68–$74 forecasted by the EIAinvestingnews.com), the CAD could struggle to maintain its recent strength. On top of that, if global risk appetite wavers, traders could rotate out of risk-sensitive currencies like CAD into safer havens. In short, the CAD may have enjoyed a good run, but the tables appear set to turn in favor of the USD. Attractive Risk/Reward Setup: From a trading perspective, going long USD/CAD near current levels offers a compelling risk-to-reward scenario. The support at ~1.3780 provides a logical and tight risk cutoff – if the pair falls decisively below that, one can admit the bullish thesis was premature and exit. On the upside, even a retracement to mid-range resistance levels like 1.4000–1.4100 (around the 50-day MA or pivot resistance) would yield a solid gain relative to the risk. The trader who shared the long idea on USD/CAD set a target around 1.4140, just shy of major resistance, highlighting the potential for a move of several hundred pips off the lows if the reversal takes holdtradingview.com. The combination of well-defined support, improving indicators, and room overhead for a bounce means the odds are tilted that a long position could be rewarded. Of course, no trade or investment is guaranteed – and one must always stay vigilant. If USD/CAD were to close below ~1.3780 support, it would call into question the bullish setup and could open the door to further downside (perhaps another leg down to the mid-1.37 or even low 1.36 area in a bearish scenario). But as things stand, the evidence leans bullish, and the reward potential outweighs the remaining downside risk, in our view.
Fundamentals: Focus on today's NFP market; Technical aspects: Gold stopped falling near 3200 and gradually rebounded, and has now rebounded to around 3240. As for this round of rebound, I have actually made it clear in my previous opinion that the bulls and bears are wrestling at the 3200 mark, and there will still be repeated in the short term, and after the downward trend slows down, some trapped bulls must have self-rescue behaviors, so it is not surprising that gold has rebounded. From the current structure, gold has not shown a clear bottoming signal, so the gold rebound is only temporary, and gold will continue to fall after the rebound. From the perspective of frequent switching of intervals, since gold has broken through the area near 3235 during the rebound, the rebound may continue, and is expected to continue to the area near 3270-3275. After breaking through this area, it is even expected to continue to around 3290. This is the position area where we must focus on entering the short position. Trading strategy: 1. Consider buying gold in the 3235-3230 area, TP: 3245-3255; pay attention to setting protection. 2. Consider selling gold in batches after gold rebounds to the 3270-3275 area, TP: 3240-3230
It is a young chart, but the chart is so simple and easy that it cannot be ignored. When we a look at a chart what are we looking for? Mainly bullish potential. A chart that looks ready to grow. A chart that says the bearish wave is over and a new bullish wave will start. For this reason, VANAUSDT is easy. There are no strong bullish signals. Basically there are no signals at all, but, we have price action. VANAUSDT was in a descending trend and then goes sideways. So now we have information. We know the bearish action is over because we no longer have lower lows and lower highs. We know consolidation is happening because prices are sideways. We know soon there will be change because volume continues to drop. So, if the downtrend is over and the market enters a sideways range, we can assume that a bullish trend/wave/phase will develop next. We can only make this assumption because we have an understanding of market cycles and keep an eye on the rest of the market. If we were unfamiliar with Cryptocurrencies are were looking at this chart in isolation we would not be able to make this assumption in a valid way. We would be able to make it but it would be a wild guess rather than an educated guess. We know the market will grow. We know Bitcoin is growing and we know some Altcoins are growing even three digits green in a single day. This never happens in a bear market and this happens only at the start of a new bullish phase. We also know that the Altcoins that are breaking bullish and moving up strongly went through exactly the same pattern as VANAUSDT. They were going down and stopped going down and went sideways, from sideways turned green. That's how I know that VANA will grow. Thanks a lot for your continued support. Namaste.
Dogecoin setting up to trend continuation. - 1 HR TF (HTF) - Broken the pullback phase - Flush to downside - Narrow state - Above 200MA - 9 EMA and 21EMA above 200MA and rising - Enter at break above flag (look to enter on LTF) - 1st target recent major swing high - R/R 2:1 (1st target)
The Dow Jones tends to share the strongest correlation with the ASX 200, out of the three Wall Street indices. It is therefore worth noting that Dow futures formed a bearish pinbar at trend resistance on Thursday, following an intraday false break of the March low. The daily RSI (2) was also overbought by the day’s close. The March 31 low also hovers nearby for additional resistance. Given futures volumes were declining while Dow futures rose, I suspect a pullback is due. ASX 200 futures formed a hanging man candle beneath the January high, near a weekly VPOC (volume point of control). The 200-day SMA also hovers nearby. A bearish divergence has also formed on the daily RSI (2). And like the Dow, volumes were declining while ASX prices rose. Bears could fade into moves around the Jan low or 2000-day SMA with an initial target at the March high, a break beneath which assumes aa deeper pullback towards the 7939 VPOC and 7900 handle. Matt Simpson, Market Analyst at City Index and Forex.com
Trading Idea 1) Find a FIBO slingshot 2) Check FIBO 61.80% level 3) Entry Point > 125/61.80% Chart time frame: D A) 15 min(1W-3M) B) 1 hr(3M-6M) C) 4 hr(6M-1year) D) 1 day(1-3years) Stock progress: A A) Keep rising over 61.80% resistance B) 61.80% resistance C) 61.80% support D) Hit the bottom E) Hit the top Stocks rise as they rise from support and fall from resistance. Our goal is to find a low support point and enter. It can be referred to as buying at the pullback point. The pullback point can be found with a Fibonacci extension of 61.80%. This is a step to find entry level. 1) Find a triangle (Fibonacci Speed Fan Line) that connects the high (resistance) and low (support) points of the stock in progress, where it is continuously expressed as a Slingshot, 2) and create a Fibonacci extension level for the first rising wave from the start point of slingshot pattern. When the current price goes over 61.80% level , that can be a good entry point, especially if the SMA 100 and 200 curves are gathered together at 61.80%, it is a very good entry point. As a great help, tradingview provides these Fibonacci speed fan lines and extension levels with ease. So if you use the Fibonacci fan line, the extension level, and the SMA 100/200 curve well, you can find an entry point for the stock market. At least you have to enter at this low point to avoid trading failure, and if you are skilled at entering this low point, with fibonacci6180 technique, your reading skill to chart will be greatly improved. If you want to do day trading, please set the time frame to 5 minutes or 15 minutes, and you will see many of the low point of rising stocks. If want to prefer long term range trading, you can set the time frame to 1 hr or 1 day.
Vulcan Forged is now on a broken downtrend. The highest volume ever comes after the All-Time Low. The session that produced this really high volume ended up red but the fact that the price is much higher (last week) compared to the ATL (7-April) means that PYRUSDT is now bullish. Good evening my fellow Cryptocurrency trader, you will be surprised by the performance of this pair. There are many pairs, many projects, many Altcoins; it is hard to choose, sometimes. If we develop a plan and invest some time choosing becomes easy. Choosing doesn't have a be mathematical left brain type of thing. It can be something more creative where you interact with the information that I share, you interact with the market and other traders; let what comes up come up and give it a deep look. Repeat over and over and you will be able to choose with a high level of certainty what is right for you. There is a trick here. If you don't know what to choose, first, that's ok and it means you are not ready. Wait longer; read, read, read, read everything I share. Keep reading and then it happens. You get the feeling and the feeling comes with a certainty, "I want to buy this pair." And that's one. Keep doing it until you reach 5 or 10, depending on your capital and plan of course. That's a start. The trick is that there is no rush, you can take your time and it will work. Nobody can pick for you, this would be a mistake. I can choose pairs for you, some people ask me which pairs they should buy, and somehow this never works, why? Because you are the one who is going to collect the profits or accept the loss, for this, you are the one that should invest the energy on what to buy and hold. When you read the analysis, when you see the numbers, some will standout. Those that standout you mark with a check. When you are ready, you start choosing from your very own list of pairs. You can wait and after sometime you will see many pairs going up. Say you didn't buy but you can easily recognize the ones that called your attention. Next time, when you get that feeling, that intuition, you know it is the right one. You can also track those that didn't move or went the other way; what type of feelings did you have when you saw those pairs? When you get that feeling again, you know to stay away. It is a mental game. If you can gain control of your mind, you can make the right decision. If you can make the right decision at the right time, money flows. The money you make will depend 100% on your mindset, your efforts and the market as a whole. Support the market, participate and eventually the market will reward with your desired results. » Vulcan Forged (PYR) is bullish now. Still trading at bottom prices with huge potential for growth. Very strong targets can be seen on the chart. Namaste.
Trading Idea 1) Find a FIBO slingshot 2) Check FIBO 61.80% level 3) Entry Point > 170/61.80% Chart time frame: D A) 15 min(1W-3M) B) 1 hr(3M-6M) C) 4 hr(6M-1year) D) 1 day(1-3years) Stock progress: A A) Keep rising over 61.80% resistance B) 61.80% resistance C) 61.80% support D) Hit the bottom E) Hit the top Stocks rise as they rise from support and fall from resistance. Our goal is to find a low support point and enter. It can be referred to as buying at the pullback point. The pullback point can be found with a Fibonacci extension of 61.80%. This is a step to find entry level. 1) Find a triangle (Fibonacci Speed Fan Line) that connects the high (resistance) and low (support) points of the stock in progress, where it is continuously expressed as a Slingshot, 2) and create a Fibonacci extension level for the first rising wave from the start point of slingshot pattern. When the current price goes over 61.80% level , that can be a good entry point, especially if the SMA 100 and 200 curves are gathered together at 61.80%, it is a very good entry point. As a great help, tradingview provides these Fibonacci speed fan lines and extension levels with ease. So if you use the Fibonacci fan line, the extension level, and the SMA 100/200 curve well, you can find an entry point for the stock market. At least you have to enter at this low point to avoid trading failure, and if you are skilled at entering this low point, with fibonacci6180 technique, your reading skill to chart will be greatly improved. If you want to do day trading, please set the time frame to 5 minutes or 15 minutes, and you will see many of the low point of rising stocks. If want to prefer long term range trading, you can set the time frame to 1 hr or 1 day.
IWM is showing signs of short-term exhaustion after rejecting near $198. A break of the rising trendline suggests a pullback is in play. The $187.99 level is key support – a bounce here could trigger the next leg up toward $200.68. ? Trade Idea: Monitor price action near $188 for long entries targeting $200. Stop below $186. ⚠️ Bearish confirmation only if we lose $187 decisively. ? Probability Setup: ? Bullish Bounce → 65% ? Direct Breakout → 15% ? Breakdown → 20% ? May 1, 2025 #IWM #Russell2000 #TradingView #TechnicalAnalysis #ETF