Greetings, Traders! Today, I'm excited to share a compelling technical analysis finding on the stock of Rivian Automotive ( NASDAQ:RIVN ). A falling wedge pattern has been identified, suggesting the potential for a bullish reversal in the near future. Let's delve into the details! 📈 Ticker: NASDAQ:RIVN 📅 Timeframe: Daily Chart 📊 Pattern: Falling Wedge 📉...
Market Analysis: Global shares decline, dollar recovers as Fed pauses rate hikes; ECB and BOJ meetings awaited. Key events on the economic calendar include: New Zealand GDP (QoQ) for the first quarter. Eurozone Deposit Facility Rate announcement for June. Eurozone ECB Interest Rate Decision for June. US Core Retail Sales (MoM) data for May. US Initial Jobless...
Wait for Choch at the 1H POI and also pay attention to the LQ at the left. Looking to take my Tps from those zones marked out in the chart. However, it will be a trade to watch for a confirmation entry.
Today's market action on NASDAQ Futures (NQM) provided quite a spectacle, as we witnessed an impressive pump that led to a new Higher High at 13683. With limited levels of resistance left in the upper echelons at 13817 and 13995, it appears we're running out of targets on the upside. Additionally, the VIX index is down, pointing to a relatively calm market...
In today's trading scenario, we witnessed a fascinating turn of events. The market initially opened with a downward wick, touching the previous day's closing level and the London session's support. However, the tide swiftly turned, largely attributed to President Biden expressing positive sentiments about the avoidance of the US debt ceiling. This optimism sparked...
BTCUSD could be setting itself up for a buyers territory below with matching fib level. A recent higher high allows buyers to target previous resistance that could turn to support if rejected. - Higher high - Lower low pending - Previous resistance turned support if rejected - Matching fib level at the 50% mark with potential - With positive outcomes for BTC in...
Today's premarket moves for NQM have presented an intriguing scenario. News induced volatility sent us for a wild ride, with a sharp drop back to yesterday's support near 13430. Expecting a bounce and a wick fill, the surprising strength of the subsequent upward push—smashing through the main resistance—has taken us into relatively unexplored territory. With the...
Looked like the bull wanted to step in. But this level of resistance between 27 and 30 is no letting up. IMO the bears look a little stronger. Im waiting to see what this week will bring. Id like to see price bounce off this lower triangle. If price fails to do so then we could see another drop to 20k. We need a Mothers Day Rally
My insights on the current crypto market, highlighting potential double tops and BTC's struggle at a historic resistance level. Understand how to manoeuvre through uncertainty, set a stop loss, and be prepared for other possible outcomes like falling wedges and continuation patterns. Don't miss this essential guidance for trend followers during this bull run!...
I’ll get right to the point. NO Now granted, as the reader, you’re immediately drawing your own conclusions about that opening statement. You're probably thinking... The author of this post is obviously bearish and therefore has an agenda. Ok, that’s fair. Then indulge me as I explain, in detail , why I believe todays market participants and financial news...
As a stock trader, it's important to pay attention to major events that can impact the market, such as the Federal Open Market Committee (FOMC) meetings. These meetings can have a significant impact on stock prices, and understanding their historical trends can help you make informed trading decisions. In preparation for the upcoming FOMC meeting on May 3, 2023,...
Welcome to another Forex Daily Forecast! We will be preparing for the trading week ahead: - Analysis of the individual currency Futures, to identify the strong and the weak - Analysis of the FX pairs (EURUSD, EURCAD, ...) - Analysis of Gold, Silver, and OIl too! - Plot and plan for the best setups. I'm taking my time with this analysis with the viewer in...
Based on my analysis, it appears that there is a breakout of OP Optimism, which has seen it shoot up and retrace 0.786. This particular retracement level is known to be a significant area for altcoin retracements. I have observed that OP has managed to hold above turning resistance, thereby transforming it into support. While there may be some resistance at 2.9...
– Previous Daily candle closed Bullish at 2014.900 respecting recent Daily Support formed on Tuesday and closing below recent Resistance formed on Thursday 6th April 2023. – Buys on close above 2017.500 targeting 4h Resistance at 2022.500, Leaving Runners to the Daily Wick Fill at 2028.600. – Sells on close below 2011.400 targeting 1h Support at 2005.800, Leaving...
– Previous Daily candle closed weak Bullish at 166.120 within the Rejection wick formed on Tuesday 4th April 2023. – Buys on close above 166.350 targeting 1h Resistance at 166.600, Leaving Runners to the 4h Resistance formed on 20th December 2022 at 166.840. – Sells on close below 165.860 targeting 4h Support at 165.560, Leaving Runners to the 1h Support formed at...
MDX, despite having a small market value in the crypto world, is catching the attention of investors with its sharp price movements. My technical analysis indicates that MDX's trend break is close and its price is expected to experience a significant increase. My short-term target is to reach $0.40. However, MDX's small market value means that its price can...
As of right now I would say the triangle pattern certainly is the prevailing pattern thesis. A triangle pattern is one that neither gives bulls nor bears much hope or despair as it tugs at both camps because its range bound. For this trader, I would classify myself as bearish on the overall market, however that does not preclude me from getting long for profit. As...