Restoration Hardware on the weekly chart rose from COVID and then retraced for almost two years. It appears now ready to experience some investor and trader interest once again. It is rising from the POC line of its long term volume profile. The trend strength indicator just inflected and curled upward. I like to catch trends early to get as much of a move as...
ZS is trying to reverse downtrend. Bearish upthrust has been weakening over the last two weeks and price has already set daily higher low on the pre-market. For reversal to happen bulls must protect 192.5 and build value above 196. If the reversal happens it will probably not to last long as we're in a monthly consolidation. But it still can provide some nice...
GM on the weekly chart has ascended to the top of the high volume area of the long term volume profile. The predictive algorithm forecasts a bounce down from that level. The MACD indicator shows lines crossing over the histogram while the RSI lines are in the 60s about the same level as the market pivot in 2022. The Supply / Demand indicator has the...
Gold takes a step back in the wake of sizzling US inflation data and the Federal Reserve's cautious approach towards policy easing. The anticipation of the US Federal Reserve's easing cycle gets a reality check as robust US economic data pushes back the much-awaited commencement. Fed Chair Jerome Powell's call for patience aligns with the hotter-than-expected...
NASDAQ:ZS has been very "bearish" for almost month but we're still in a monthly uptrend. At the same time there are bearish exhaustion signs: weekly bearish upthrust has diminished, and value area has been overlapping for the last three days. This creates opportunity to capture possible short-squeeze. It is a high risk trade given the context but upside can be...
We would love to see yellow strong buying continue to guide price out of our selling algos. First step is a breakout of strong selling purple and then we expect a fight to occur between strong yellow and more tapered blue. Soon enough if blue or yellow holds price (bullish buying continuation) we will see a retest of our teal selling algo and that will be our...
1. Trend: Bullish to sideays 2. Set up: Reversal 3. RR: 1:5 to all the way to 10R 4. Stop loss: 2 SL can be followed, aggressive with 4.3% or easy room to avoid volatility.
1. Trend: Bullish to sideways 2. 7 Months consolidation 3. RR very lucrative 4. 1 false breakout & also false breakdown to collect all the stop losses, now chances are high price will shot up at unusal speed
The Gold price (XAU/USD) surges to a new record high above $2,180 as yields on 10-year US bonds dip to 4.04% following the release of the US NFP data. According to the US Bureau of Labor Statistics, the Unemployment Rate climbed to 3.9%, exceeding expectations and up from the previous 3.7%. While Nonfarm Payrolls for February surpassed projections at 275K...
The Pound Sterling (GBP) gains strength as market sentiment improves, driven by a growing appetite for risk-sensitive assets. This sentiment is reinforced by soft wage growth and a sharp rise in the Unemployment Rate reported by the United States Bureau of Labor Statistics (BLS) for February. The outlook for the GBP/USD pair remains positive, with widespread...
AMD on the 15 minute chart breakout through anchord VWAP bands starting on February 29th from the mean anchored VWAP support. Two days later finding itself extended to the second upper VWAP band, price corrected over the next day down to the first upper band and then after a few hours reversed and headed back toward the second upper band going...
On Friday, GBP/USD saw a modest rebound post-testing 1.2600. The US Dollar is struggling to maintain its strength following the release of weaker-than-expected ISM Manufacturing PMI data from the US. February's US ISM Manufacturing PMI dropped to 47.8, contrary to the anticipated rise to 49.5 from the previous month's 49.1. The diminishing PMI sentiment is...
Gold surged on Friday, reaching its highest level since early January, surpassing 2,080 as the 10−year US Treasury bond yield dropped by approximately 1.52% following the release of mixed economic data. S&P Global's report indicated an expanding US economy, while the Institute for Supply Management (ISM) highlighted a contraction in manufacturing activity,...
MRVL on the 60 minute chart certainly had an impressive run for two days gaining 16%. The chart however shows the bullish candles are decreasing in range and price is more than two standard deviations above the mean VWAP and far outside the high volume area of the volume profile. Bullish volatility fell to close the trading week on Friday afternoon. My trade...
CME_MINI:NQH2024 - PR High: 18254.00 - PR Low: 18217.50 - NZ Spread: 81.5 No significant calendar events Continuing inventory hunt below prev session close - Mechanical response to PR-1, dip below - Relatively avg vols to start session - 50% area of Friday's range Evening Stats (As of 12:15 AM) - Weekend Gap: +0.08 (filled) - Gap 10/30 +0.47% (open <...
I've been watching Centrus Energy (LEU) for the past few weeks considering they are a strong company and we're in a very strong controlled selling (yellow) algorithm for some time. I was waiting for a bullish sign of reversal prior to finding support at tapered blue - which we saw last week when price was picked up by teal buying continuation. We are now gapping...
A head and shoulder reversal pattern is forming on Ocado. Started in August 2022, this is likely to complete this December, but not guaranteed. The left shoulder is forming as expected. But will it bottom at about 380p and then rise?
Step to identify the beginning of a reversal and making a decision for a trade. 1. Draw/mark the current trend based on HH/HL/LH/LL, and use the trend line at those points. 2. If the current price crosses the trendline, that's an early signal for a reversal. 3. confirmation of a reversal when the price breaks the structure/pattern (bottom/top). 4. After the above...