Hello Traders, this is Ripplayer DOGEUSD has formed a double top which is a bearish signal along with the support being breaking down as of now. This trade has a target of ~ $0.30 ~ $0.29 For this trade to be active it is crucial for DOGE to breakdown with a good volume candle close. Entry point will be at the retest to the support after the breakout. WHAT ARE YOUR THOUGHTS? Thank you, Traders, for taking your time to have a look at my Analysis. Have a fantastic day and a safe trading, all the Best! "Chance favors the prepared mind.” – Louis Pasteur Please like, subscribe and share your ideas and charts with the community! Disclaimer! Information provided is not a financial advice, it is only educational purposes. You make your own choice!
RERE: Seat belt and ready for the long journey -Inversed Head and Shoulder pattern. -Key level support. -Long accumulation range has just been broken out and backtest (BU/ SOS). -Logically candle and spead analysis. . See more plans at US STOCKS- WALL STREET DREAM
Current Situation Yesterday, I exited my GALA position based on confirmation from the 4-hour timeframe. Although I considered waiting for a daily close to validate the bearish trend, the strong downward signals on the smaller timeframe prompted me to act earlier. This decision proved advantageous, as we experienced a significant price drop. Broad Market Outlook: Weekly Timeframe: The Stochastic RSI has crossed bearish (K below D), indicating that momentum is firmly downward on the larger time horizon. This suggests a sustained correction phase. Daily Timeframe: The Stochastic RSI remains in bearish territory, confirming that the broader trend is aligned with the weekly bearish momentum. 4-Hour Timeframe: The momentum indicators are at levels that suggest oversold conditions, indicating a potential for short-term support and a bounce. Interpretation: We are currently in a correction phase, and support levels are crucial to watch. Based on the broader timeframes, this correction may last a while as the weekly and daily momentum indicators cool off. In the shorter term, the 4-hour chart suggests the potential for a bounce, but this will likely develop into a consolidation pattern, such as a channel or triangle, as the market stabilizes. Key Levels to Watch: Support: $0.04358: This aligns with strong monthly support and the golden pocket (0.618 Fibonacci retracement). If this level fails, the next likely target is the 0.786 Fibonacci level at $0.03980. Resistance: $0.04882: A short-term ceiling where price may struggle to break out until momentum shifts on higher timeframes. What to Look For Next: 4-Hour Momentum Indicators: Await signs of positive momentum (e.g., RSI crossing upwards or bullish Stochastic RSI) to confirm potential support. Consolidation Pattern Formation: After finding support, expect price action to form a sideways channel or triangle pattern, likely bouncing between the identified support and resistance levels. Longer-Term Cooling: The correction may persist until the daily and weekly momentum indicators reset, preparing for a stronger recovery phase. Summary: Immediate support is anticipated around $0.04358, with potential range-bound movement between $0.04358 and $0.04882 in the short term. A deeper correction to $0.03980 remains possible if bearish momentum continues. Patience is key—wait for confirmation of support and momentum shifts before re-entering or trading.
As mentioned in the charts the point of control prior is down and unless vol comes, 0.18917 targets to book shorts till full.first targets 0.23171 sl 0.30641
BITSTAMP:XRPUSD Your last opportunity to get XRP at a discount before it goes parabolic is presenting itself. $1.52 -$ .1.50 is the target bottom.... If it doesn't get back down to $1.96, then that means $1.96 was the bottom, and we would backtest that level and break straight out of this bull flag pattern! ? reversal of this downtrend, an ABC correction, could possibly be complete by the 11h of Dec.
Great view of the Alpha lining up today in the over bought China market on Monday evening. I was too busy to sell my CNEW ETF this morning
Technical Analysis Price Action Breakdown: * Today’s Performance: SPY experienced a bearish session, breaking below key support levels around $608 and testing $604 by the end of the day. * Support and Resistance Levels: * Resistance: $609.07 and $612.00 are key overhead levels to watch. * Support: Immediate support lies at $604.35, with a critical level at $597.25. Indicators: * MACD: The MACD shows bearish momentum, with the histogram declining and the signal line below the MACD line. * Moving Averages: * SPY has broken below the 50-period moving average, signaling weakness. * The 200-period moving average is acting as support near $595. Trendlines and Channels: * Descending Trendline: A short-term downtrend is forming, with SPY unable to reclaim higher highs from last week. Liquidity Zones and Order Blocks: * Liquidity Zone: Strong liquidity is observed between $608 and $604, suggesting institutional activity at these levels. Scenarios: 1. Bullish Scenario: * If SPY reclaims $608, it may retest $609 and move toward $612. 2. Bearish Scenario: * A break below $604 could lead to a test of $597 and potentially lower levels at $595. Trading Plan Scalping Strategy: * Entry Points: * Long: Above $608 with a target of $609 and $612. * Short: Below $604 with a target of $597. * Stop Loss: * For long trades, place a stop loss at $606. * For short trades, use $606 as a stop. Swing Trading Strategy: * Bullish Outlook: Accumulate SPY if it closes above $608, targeting $612. * Bearish Outlook: Short positions can be initiated below $604, with targets of $597 or $595. Risk Management: * Maintain a risk-reward ratio of at least 1:3. * Limit exposure to 2% of capital per trade. Disclaimer This analysis is for educational purposes only and does not constitute financial advice. Always perform your own research before trading.
DOGE have two lines purple and green! PURPLE line is most probable. Eyeing for 0.47 and CMP at 0.37. Both ways the doge was already on a line. Still staying by the 0.5 in near terms than now. My doodle speaks moreee
Price Action Breakdown: * Today's Performance: QQQ opened lower but found support near $520.65, with a minor recovery toward $522. * Support and Resistance Levels: * Resistance: $527.63, with $530 acting as a psychological level. * Support: $520.65, followed by stronger support near $514.39. Indicators: * MACD: MACD shows bearish momentum, with the signal line crossing below the MACD line and declining histogram bars. * Moving Averages: * The 50-period moving average is providing minor resistance near $524. * The price remains above the 200-period moving average, indicating a long-term uptrend. Trendlines and Channels: * Uptrend Channel: QQQ is trading within an ascending channel, though the lower trendline is under pressure. A breakdown could lead to further bearish movement. Liquidity Zones and Order Blocks: * Liquidity Zone: Significant activity near $520 suggests buyers are stepping in to support the price. Scenarios: 1. Bullish Scenario: * If QQQ breaks above $524, it could test $527.63 and $530 next. 2. Bearish Scenario: * A break below $520.65 could lead to a test of $514.39, with further downside potential. Trading Plan Scalping Strategy: * Entry Points: * Long: Above $524 with targets at $527 and $530. * Short: Below $520 with a target of $514. * Stop Loss: * Use a $1.50 stop loss for scalping trades. Swing Trading Strategy: * Bullish Outlook: If QQQ remains above $520, consider accumulating with a target of $530. * Bearish Outlook: If QQQ breaks below $520, wait for confirmation to short toward $514 or lower. Risk Management: * Keep risk-reward at a minimum of 1:3. * Monitor volume at key levels for confirmation. Disclaimer This analysis is for educational purposes only and does not constitute financial advice. Always perform your due diligence before making trading decisions.
Hello Traders, this is Ripplayer XRPUSD needs to make a choice with either option above! This is just an idea to show the possible options in the short term. Please be mindful either way XRP decides to go XRP is still very very BULLISH with good news ahead. WHAT ARE YOUR THOUGHTS? Thank you, Traders, for taking your time to have a look at my Analysis. Have a fantastic day and a safe trading, all the Best! "Chance favors the prepared mind.” – Louis Pasteur Please like, subscribe and share your ideas and charts with the community! Disclaimer! Information provided is not a financial advice, it is only educational purposes. You make your own choice!