Nasdaq futures may have seen an ugly decline following the Fed’s rate decision but it’s noteworthy the price remained respectful of technical levels, bouncing off 21340.75 at the height of the carnage. It’s far too early to call a bottom, especially with momentum indicators mixed: MACD has crossed over from above, generating a bearish signal, but the long-running uptrend in RSI (14) remains intact. Therefore, rather than trying to anticipate directional risks based on thin volumes going through in Asian trade, I’d much rather see how the price action evolves into Europe and US. If the price tests and holds again 21340.75, longs could be established above the level with a stop beneath for protection. Apart from a minor level at 21608, there’s little visual resistance until the record highs. Alternatively, if the price breaks 21340.75 and cannot reverse back higher, you could flip the setup around, selling beneath the level with a stop above for protection. 20984 and important 50-day moving average are nearby levels of note, with a break of the latter opening the possibility of a deeper flush towards 20400. More broadly, for the carnage witnessed following the Fed, its updated rate projections were not significantly different to what traders were anticipating before the event. And when you step back and look at where markets see the funds rate bottoming this cycle, it’s around 70bps higher than where the Fed’s dot plot indicated. What the Fed signalled was a slower pace of cuts, not a large reduction in cuts. One 25bps move was removed from the profile by the end of 2027. That’s it. Based on the market reaction, you’d think multiple cuts were removed! That makes me think the move was more about market positioning rather than a truly monumental hawkish shift, making me question how long the rout can be sustained when that reality sets in.
The breakdown below the key-level support of $115.20 is indicating further downside moves to the next significant key-level support at $100.65. We're diving in head first with a short-term bearish campaign. Stay tuned...
Here's a follow up study to my USDT.D analysis from a few weeks ago, showing the markets typically sell off and put in a near term market top when Tether Dominance bounces off this key trendline (since 2018). This is likely a sign of further downside on Bitcoin and the Total Market Cap with a further 20% correction likely before we bounce again. Hopefully in time for a Santa Claus Rally. Also I look at how price clearly rejected on the Total 2 and Total 3 Market Cap's at the old ATH's from 2021. So it's no surprise markets are selling off here. I've been saying 'Show me the charts, and I'll tell you the news' for years... So while Powell's comments today were Bearish, it was incidental. The market needed a cooldown, and the FOMC comments today were just the catalyst. Let me know what you think below, and go ahead and like the video if you'd like me to do more of these here on the TV channel. For more about us, check out the links in my Bio.
Hi, looks like the EURUSD fell overnight. Today it looks like that there was an easy buy here today for 20-30 pips at the Asian session open price. Target price 1.038-9, open price was at 1.035. You can see the sell liquidity sitting on the red candle as that closed red, then the following candle closed green showing that the market may want to take this 20-30 pips back up. #EURUSD #ilyaskhan #bloomberg
Hello, traders. If you "Follow", you can always get new information quickly. Please click "Boost" as well. Have a nice day today. ------------------------------------- (NAS100USD 1D chart) https://www.tradingview.com/x/5MCaV6c0/ Support zone 1st: Left Fibonacci ratio 2.24 (21039.7) ~ 21348.0 2nd: 19582.6 However, when the M-Signal indicator on the 1W chart is touched, whether it is supported or not is important. The next volatility period is expected to be around December 26th. If it is maintained above the M-Signal indicator on the 1M chart, it is expected to eventually rise to the left Fibonacci ratio 2.618 (23557.7) ~ right Fibonacci ratio 1.27 (23962.1) and re-determine the trend. - Thank you for reading to the end. I hope you have a successful trade. --------------------------------------------------
** Trigger warning - the following post may cause skin irritation and involuntary expletives ** The entire market is bullish on Ethereum. All of social media is bullish on Ethereum. The Motley Fool is even bullish on Ethereum (Huge red flag!!) “Ethereum looks undervalued relative to its potential” source: https://www.fool.com/investing/2024/12/17/should-you-forget-bitcoin-and-buy-ethereum-instead/ ===================================================== The TA: Your only source of news should be the chart. The chart has a headline for you to read: “Strongest bearish divergence print since the 90% and 80% crashes of 2018 and 2021” Yes, the same specific settings used to track market pivots with divergence on Ethereum price action has printed once more. On the above 8 day chart price action prints negative divergence with multiple oscillators over an 80 day period. The bear flag forecasts price action to correct until $700. If you’re bullish on price action you have to reason why… why is this time different? (Trump said... yes, would never mislead that one) If you’re neutral on price action and considering a long entry, look left, is now that moment? If you’re bearish on price action, well then you’re in poor company and public enemy number one. Welcome to my world! Is it possible price action continues to rise? Sure! We’re in a bull market, din’t you get the memo? Is it probable? No. Ww
Vadilal Industries is exhibiting a bullish flag pattern on the weekly timeframe, currently trading near the resistance zone around 3933. A confirmed breakout above this level, supported by strong volume, could potentially trigger a significant upward rally. The projected target, based on the flagpole's height, points toward the 7000 level, aligning with key Fibonacci extension zones. Traders should monitor price action closely for breakout confirmation and sustained momentum. I'm not a SEBI-registered analyst. All posts and levels shared are just for educational purposes. I'm not responsible for any losses or profits. No claims, all rights reserved
The Yen index trades at a really interesting level as we head into the BoJ rates decision. We're trading at the 1.61 extension of the previous bull trap. This is a big make or break level. A lot of consideration does have to be given towards the bear break. In a bear break the 1.61 hits. 1.27 often retests and then the 1.61 break. If that happens, Yen can capitulate hard. Very important risk to be aware of. However, if the 1.61 holds as support we might see a mean reversion move in this. Mean reversion move in the Yen index after this prolonged downtrend would spell sensational crash moves in XXXJPY. Very interesting decision to make in this zone. I think it sets the tone for the trend to either side. Lot of epic trade setups in the XXXJPY pairs in the event it's a Yen reversal.
Weekly levels are still keeping the HL > HH narrative. Going into the year we want to see the nearest weekly lows tested $94K down to the imbalance high around GETTEX:89K , the lower the better here. I believe BTC following suite with the rest of the market is seeking levels for the yearly candle transition. During this process we will expect a strong low to be placed to support the rest of the yearly surge to come. A clear support zone in the imbalance below on daily chart with volume profile POC also resting in this fib retrace range. As we can see on VP the bullish liquidity is heavy in this range. Although this range is heavy bullish, I do expect a deeper sweeping of weekly lows before the next year's candle finds its stable low. Daily chart >> https://www.tradingview.com/x/uyzPLiMm/
We might see all post election gains erased before year end, are you a BULL or a BEAR...... is the Santa rally over?! What say you?