Overview: ENJ is currently trading within a well-defined descending channel (yellow trendlines), reflecting a long-term downtrend since its all-time high. This channel offers key insights into historical price action and potential future movements. After touching the bottom boundary multiple times, ENJ is showing signs of momentum for a potential breakout. Key Levels and Observations: 1. Descending Channel: • Price remains within the channel, bouncing between resistance (top) and support (bottom). • A breakout above the upper boundary would confirm a potential trend reversal. 2. Support and Resistance: • Support Levels: $0.22 (bottom of the channel) and $0.12 (critical historical low). • Resistance Levels: $0.34 (channel resistance) and $3.42 (major breakout target). 3. Volume Profile Analysis: • Significant volume buildup within the $0.22–$0.34 range suggests strong liquidity in this area, acting as a base for the next move. • A breakout could target higher-volume nodes at $1.30, $3.42, and beyond. 4. RSI Analysis: • RSI is recovering from oversold territory, currently sitting at 38.69, signaling growing bullish momentum but still with room for upside. 5. Projection: • A confirmed breakout above $0.34 targets $3.42, which aligns with historical resistance and key volume levels. • If momentum continues, higher targets could be achieved in the long term. Trade Setup (Potential Long Idea): • Entry: Consider entering after a confirmed breakout above $0.34 with strong volume. • Stop-Loss: Set below the recent swing low at $0.22 to limit downside risk. • Take-Profit Levels: • TP1: $1.30 (interim resistance). • TP2: $3.42 (major breakout target). • TP3: $4.79 (longer-term resistance). Risk Factors: • A failure to break the $0.34 resistance could lead to further consolidation within the channel. • Watch for rejection at key levels and decreasing volume during attempted breakouts. Conclusion: ENJ presents an exciting long-term opportunity with its structured channel and volume profile suggesting accumulation. A breakout above the key $0.34 resistance could trigger a significant trend reversal, offering targets up to $3.42 and beyond. Keep an eye on volume and RSI for confirmation of bullish momentum. What are your thoughts on this setup? Let’s discuss in the comments!
in entire 2024, Image traded in consolidation box. at the same time a cup & handle pattern also appeared on the chart. Now recently, it gave breakout of consolidation Box and cup & handle pattern with excessive volumes which shows strength of Bulls. Buy at current Price Target Price: Projection of Consolidation Box and Cup & Handle Pattern SL: last LL.
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There is obviously no guarantee that EURJPY will do exactly this. However, that is the wrong way to view this. It isn't whether it does what we want it to do. Rather, we observe and see what comes next. AND if what comes next develops as we theorize, then that confirms our reading of the chart, in which case, get ready for a nice short.
It's been quite a while that I am following bitcoin's chart since my last analyses. Back in 2022, I surmised that 16k is the bottom and later on proposed that if bitcoin breaks the 37-42 level with a decent volume, very good things can happen. (I attach all the analyses to this post) We have watched BTC's volatility in the past year, breaking 69k, though not quite easily with the world war speculations and the grand scheme of economic and sociopolitical circumstances. Anyway, BTC now is worth 101k, a value perhaps nobody dreamed of a decade ago. We still have the war speculations and the situation in the middle east is grave indeed. But the good news which can outweigh the bad situations is the post-halving volatility and optimism as well as the US investments, and possibly later on the European and Chinese investments. Currently, 100k can be a tough challenge, both psychologically and in terms of PnL analytics that big investors might be considering. Yet it can be broken easier than we expect, hitting around 120k according to the dynamic trendline and later on parabolically hitting a target as high as 150k-180k. We also have a CME gap in 75k-78k area that might be filled before this upward movement, though I surmise this gap will be filled in the next bear market, where bitcoin can revisit the 50k-70k area for its bottom. But a crash to 75k is not at all impossible, something that I personally see as a very valuable opportunity. Stay safe #no_investment_advice #DYOR
https://www.tradingview.com/x/gU3JbsPi/ NASDAQ:MSTR Today, I’d like to share my current perspective on the price action of MicroStrategy Inc. (MSTR). The data and technical indicators on the daily chart suggest a bullish scenario is unfolding. Let’s break down the analysis. Technical Setup 1. Symmetrical Triangle: The price action has formed a symmetrical triangle, with a potential breakout to the upside. This formation often signals a continuation of the trend when combined with supporting indicators. 2. Oversold Conditions: Indicators such as MACD and Stochastic Oscillator show the stock emerging from oversold territory, which supports the likelihood of an upward breakout. 3. Double Bottom Pattern: A clear double bottom pattern is forming, indicating a potential reversal of the recent 40% correction from the high reached on November 21, 2024. Key Price Levels • Current Price: Around $400. • Breakout Target 1: $550. • Breakout Target 2: If the breakout sustains momentum, the price could reach $700. Entry Strategy: • Buying at current levels ($400) appears reasonable, given the technical signals. • Place stop-loss orders according to your risk tolerance to protect capital. Bitcoin Correlation Given MicroStrategy’s substantial Bitcoin holdings, it’s essential to note the formation of an ascending triangle on the Bitcoin chart, which suggests a continued rally. This correlation adds further confluence to the bullish outlook for MSTR. Catalysts There are also market rumors that on Friday, November 13, MSTR might be included in the Nasdaq Index. If confirmed, this event could serve as a strong catalyst for upward momentum in the stock price. Conclusion: The combination of a symmetrical triangle breakout, oversold conditions, a double bottom pattern, and potential macro catalysts presents a compelling case for a bullish move. Disclaimer: This analysis reflects my personal opinion and is provided for informational purposes only. It is not intended as financial advice or an investment recommendation.
Trade Summary • Direction: Long • Entry (Limit Price): 6.3788 USDT • Take Profit (TP): 6.5713 USDT • Stop Loss (SL): 6.3590 USDT Key Metrics 1. Risk per Trade: • Entry: 6.3788 • SL: 6.3590 • Risk: (19.8 pips) 2. Reward per Trade: • Entry: 6.3788 • TP: 6.5713 • Reward: (192.5 pips) 3. Risk-to-Reward Ratio (RRR): This is an excellent RRR, indicating a favorable setup. Considerations 1. Market Conditions: • Is the trend aligned with your long position? • Any strong resistance near the TP level? 2. Position Sizing: Ensure that your position size aligns with your overall risk management strategy (e.g., risking 1-2% of account capital). 3. Execution: • Confirm low slippage and liquidity for TON/USDT around your limit price. • Watch for unexpected volatility. 4. Technical Analysis: • Are there bullish indicators (e.g., moving averages, RSI, MACD) supporting this setup? • If your TP is near a significant resistance level, monitor price action carefully as it approaches.
Buying CAD/CHF means going long on the Canadian dollar (CAD) against the Swiss franc (CHF), expecting CAD to strengthen relative to CHF.
Countertrend trend. Expecting a move down. High risk trade. 30% chance of success.
Based on DAILY and 4HR TF, the market seems to be forming a possible reversal pattern. We could see SELLERS coming in strong should the current level hold. Disclaimer: Please be advised that the information presented on TradingView is solely intended for educational and informational purposes only.The analysis provided is based on my own view of the market. Please be reminded that you are solely responsible for the trading decisions on your account. High-Risk Warning Trading in foreign exchange on margin entails high risk and is not suitable for all investors. Past performance does not guarantee future results. In this case, the high degree of leverage can act both against you and in your favor.