RIZZMAS is looking like its going to make a move up for Christmas! Inverse head and shoulders in the making here.
PDSL has come close to ATH and looks strong. Volume picking up and RSI is also stronger. Stock can goes sideway for few days or drop a little to cool down the RSI, then it should take the flight up. I will keep updating this idea, keep a watch. Any comment or feedback on this idea are welcome.
Virtuals Protocol has experienced an astronomical +16,850% surge in price over the past 164 days, marking a parabolic advance that appears to be nearing exhaustion. Price action suggests that the final 5th wave of this bullish cycle may be completing, raising the question: Is Virtuals Protocol set for a correction, or is there still upside potential? Key Observations: 1.) End of the 5th Wave: The Elliott Wave count indicates that the asset is likely completing the final 5th wave of a large bullish cycle. Parabolic moves of this magnitude typically end with a sharp correction as profit-taking accelerates. 2.) Weekly RSI Overbought: The RSI on the weekly timeframe is at 95, signaling extreme overbought conditions. Such elevated RSI levels are unsustainable and often precede corrections to reset market momentum. 3.) 6 Consecutive Bullish Weekly Candles: A string of 6 green weekly candles suggests strong bullish momentum but also hints at exhaustion as buyers may struggle to sustain such momentum. 4.) Fibonacci Target and Weekly Open Confluence: Using a Fibonacci retracement from the current wave, the 0.618 level aligns perfectly with the Weekly Open (wOpen) at $2.711. This confluence zone serves as a strong short-term take-profit target for short sellers or a potential re-entry point for bulls looking for a correction. Outlook: Bearish Scenario: The completion of the 5th wave and the extreme overbought RSI suggest a correction is imminent. A retrace towards the 0.618 Fib level ($2.711) is a highly probable scenario. Bullish Continuation: For further upside, the price must consolidate and find fresh buying volume to support continuation beyond the current highs. Conclusion: Virtuals Protocol is flashing clear signs of exhaustion, with extreme weekly RSI levels and a completed Elliott Wave cycle. Traders should watch the $2.711 zone closely as a potential correction target, with the 0.618 Fibonacci retracement and Weekly Open providing strong confluence.
It is very support to observe support area and trend-line for this short and then take a trade. I started weekly short position based on the structure it is forming right now.
XRP is now broke out uptrend signify as ready to go up in valuation.
GOLD has broken down from bearish rectangular consolidation. Prior to bearish rectangle, a falling wedge was formed from recent highs. Now it seems falling wedge is part of ABCD pattern, which means there is one more leg downwards to go. In ABCD pattern, the size of the second move downwards is very much the same as first move (either in $ or % terms). The projected price of completion of this falling wedge with ABCD pattern is between 14 and 14.50 because this coincides with: - a number of trendlines and major support zone from Weekly timeframe meet between 14 and 15 - gap fill is at 14.66 Also, if we look at price range of first wedge pattern drop, it was about 22% (from point A to B). With the formation of ABCD, the second wedge pattern price drop is also likely to be about 22% from point C to D of ABCD pattern. Price is below SMA 20, 50 and 200 Buy around 14.50
After the price reached the 1.14 level of the Fibonacci Retracement, I projected the Fibonacci Expansion to identify potential targets and decision zones. Context: The prevailing structure is a well-defined uptrend channel, reflecting a strong and consistent upward momentum. Statistically, the zone between 1.0 and 1.14 Fibonacci levels often acts as a decision area, where the price tends to consolidate or face resistance before deciding whether to continue the trend or initiate a pullback. Current Scenario: We are currently in an extended leg within the channel, which significantly increases the probability of a price correction. The marked Pullback Zone (highlighted on the chart) suggests that the price could retrace to test intermediate supports within the channel or revisit previous Fibonacci levels.
The main weekly buy/sell area on the SPY chart is a critical zone where significant price movements often occur. This area is determined by key support and resistance levels, which are influenced by various factors, including economic indicators like the Money Supply M3. Money Supply M3 (M3) The Money Supply M3 is a broad measure of the total amount of money in circulation within an economy. It includes currency, deposits, and other liquid assets. Changes in M3 can indicate economic trends and influence market sentiment. Current Analysis High Risk: The current analysis suggests that the main buy/sell area is at very high risk. This could be due to several factors, such as: Economic Uncertainty: Fluctuations in the Money Supply M3 can create uncertainty in the market, leading to higher volatility. Political Events: Recent political events or announcements can impact investor confidence and market stability. Market Sentiment: Negative sentiment among investors can lead to increased selling pressure, pushing prices down. Implications for Traders Caution Advised: Given the high-risk nature of the main buy/sell area, traders should exercise caution. It may be wise to wait for clearer signals before making significant trades. Risk Management: Implementing strict risk management strategies, such as stop-loss orders, can help protect against potential losses. Monitoring Indicators: Keeping an eye on other economic indicators and market sentiment can provide additional insights and help make more informed trading decisions.
After going through its accumulation and euphoric stage, it is currently in distribution. $0.84~ seems to be a point of non-movement. One stimulus and catalyst could turn this. I'm going to keep an eye on upcoming trials cycles and dates and look to take a lotto. Under $1 this looks like an appealing stock. A company with huge potential. Its 3 month bullish cycle in Dec 23 to March 24 provided 484% in gains. To me, this is the end of Wave 2, in a larger bull pattern. If so, we could see wave 3 hit ~$4. I think i'll take a very small position, in case it is still in a bear cycle. One to keep an eye on. Not financial advice.
Description: This trading idea revolves around TRX (Tron), the native token of the TRON blockchain, a platform designed to decentralize the internet by enabling creators to share content directly with audiences. TRX supports a range of applications, including decentralized finance (DeFi), gaming, and NFTs, leveraging TRON's high transaction speeds and low costs. With strategic partnerships and growing adoption in the blockchain space, TRX has become a key player in the push toward a decentralized web ecosystem. Despite its strong fundamentals, the cryptocurrency market remains highly volatile, and external factors such as regulatory developments, market sentiment, and global economic conditions can significantly impact TRX's price movements. Investors are advised to approach with caution and implement proper risk management strategies. Disclaimer: This trading idea is intended for educational purposes only and does not constitute financial advice. Trading cryptocurrencies like TRX carries substantial risk, including the possibility of a complete loss of capital. Always conduct your own research, evaluate your financial situation, and consult a professional advisor before making any investment decisions. Past performance is not indicative of future results.