A cup and handle pattern has formed on ETHUSD weekly chart. A break above $4,000 will confirm the completion of the pattern. Upper trendline resistance at approximately $12,000-$16,000 will be the target. Target will depend on speed of the move, but should be met before year end 2025.
At the third double bottom teasing 114.17 breakout to gap fill, it would be nice to see continuation here and what happens at 107.94 (monthly pivot). This one started with a breakaway gap September 25th and has recently filled the runaway gap, but the bullish trend is still intact from the current double bottom. I'm looking for 01/17/25 105c here, with a stop-loss at 99.05 (monthly pivot).
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Bitcoin is testing a key resistance level, showing strong bullish momentum. A breakout could signal further upside, while a pullback may retest support for consolidation. ??
Good morning fellow traders. On my Daily Forex charts using the High Probability & Divergence trading methods from my books, I have identified a new trade setup this morning. As usual, you can read my notes on the chart for my thoughts on this setup. The trade being a GBP/JPY Buy. Enjoy the day all. Cheers. Jim
Several indicators suggest that the NASDAQ 100 (NAS100) may face a downturn in the near future: Technical Indicators: • Rising Wedge Pattern: The NAS100 has formed a rising wedge pattern, typically considered a bearish signal indicating a potential price decline. • Overbought Conditions: The Relative Strength Index (RSI) shows overbought levels, suggesting that the index may be due for a correction. Economic Data: • Manufacturing Sector Contraction: The ISM Manufacturing PMI rose to 48.4 in November but remains below the 50 threshold, indicating ongoing contraction in the manufacturing sector. • Slowing GDP Growth: The U.S. economy grew at an annual rate of 2.8% in the third quarter, down from previous quarters, reflecting a slowdown that could impact corporate earnings. Federal Reserve Policies: • Interest Rate Outlook: Federal Reserve officials have signaled caution regarding future interest rate cuts, which may affect investor sentiment and equity valuations. Market Sentiment: • Tech Stock Volatility: Recent declines in major tech stocks, including Nvidia and Microsoft, have led to broader market pullbacks, indicating potential vulnerability in the NASDAQ 100. • Strengthening U.S. Dollar: A stronger dollar can negatively impact multinational companies’ earnings, many of which are components of the NASDAQ 100. Considering these factors, there is a potential for the NASDAQ 100 to experience a decline in the near term. However, market conditions can change rapidly, and it’s advisable to monitor real-time data and news updates for the most accurate information.
Not posted in a long time. Been slowly accumulating spot positions so felt little need to trade with lev. That said, be careful here. I am expecting us to take out 100k and fake out retail before pulling back into the low 90s possibly high 80s.
Indonesia Energy Corporation Limited ( AMEX:INDO ) is a U.S.-listed company engaged in oil and gas exploration and production in Indonesia. As of December 4, 2024, INDO's stock price is $2.89, reflecting a 4.62% decrease from the previous close. https://www.tradingview.com/x/YE37Vwxe/ **Market Comparison:** Over the past year, INDO's stock price has increased by approximately 4.26%, while the broader market has experienced more significant gains. This suggests that INDO has underperformed relative to major indices. **Volume and Short Interest:** INDO has exhibited high volatility, with trading volumes fluctuating significantly. Specific data on short interest is not readily available, but the stock's volatility may indicate speculative trading activities. **Earnings Per Share (EPS):** For the first half of 2024, INDO reported a loss per share of $0.21, compared to a $0.16 loss in the same period in 2023. This indicates a widening loss, which may be a concern for potential investors. **Analyst Ratings:** Analyst coverage on INDO is limited. The Wall Street Journal reports one "Buy" rating with a price target of $10.00, suggesting potential upside. However, the lack of broader analyst consensus makes it difficult to gauge market sentiment. **Conclusion:** Investing in INDO presents both opportunities and risks. The company's focus on Indonesian energy resources offers growth potential, but recent financial performance and stock volatility warrant caution. Prospective investors should conduct thorough due diligence and consider their risk tolerance before investing. When the Market’s Call, We Stand Tall. Bull or Bear, Just Ride the Wave!
SPX has done an unbelievable Performance in the last years. The Index was driven by large and successfull companies and also bei smaller ones. By comparing the russell2000, small one began to weaken. Why, cause competition from China, India etc. hits them hars. And: we saw three small correction, but not in the character of consolidations. time was to short respective, market to greedy. But, after last correction, market advances only a few % … not strong enough. Big one built cash. For here and now: short without any stopLoss, take first of three positins. Short @6070 USD with 1/3 position. Flyerdan 5. of Dec 2024
Bullish breakout confirmed. 1-4.5 RR Confluences to go long: Inverted head and shoulder on 4 hour Inverted head and shoulder on 15 min inside box Double buttom on daily with strong rejection candles and bulish engulfing