XRP is consolidating within a symmetrical triangle after a strong downtrend, signaling a potential continuation to the downside. With lower highs forming and weak bullish momentum, a breakout below support could trigger further declines. If the pattern plays out, XRP may drop toward the $1.70-$1.90 range. Watch for increased volume on the breakout to confirm the move.
Overall. It has been a fashionable week again. The current short running and the long idea which is a draft for now will be the last 2 trades for the week on my end. Have a great weekend. Let’s turn it up next week. Bless ?
I think we are in a good range to start accumulating, down 41% from the top and every indicator I test out seems to be oversold. Potentially it can go lower to ~$225 - this is why I'm not throwing all my money. Definitely a company of the future.
Hello, traders. If you "Follow", you can always get new information quickly. Please also click "Boost". Have a nice day today. ------------------------------------- (NVDA 1W chart) https://www.tradingview.com/x/jNbHcd2g/ The key is whether it can receive support and rise around the Fibonacci ratio range of 0.5 (120.14) ~ 0.618 (127.46). If not, and it falls, it is expected to touch the M-Signal indicator on the 1M chart. Accordingly, there is a possibility that it will touch around 104.75. - (1D chart) https://www.tradingview.com/x/fTY2lCSb/ The key is whether it can rise above 121.82-123.90 and receive support. If not, 1st: Fibonacci ratio 0.382 (113.42) 2nd: 104.75 You need to check whether it is supported near the 1st and 2nd above. At this time, the important thing is whether the price can be maintained above the M-Signal indicator of the 1M chart. If it falls below the M-Signal indicator of the 1M chart and remains, it is likely to turn into a downtrend, so be careful when trading. - Thank you for reading to the end. I hope you have a successful trade. --------------------------------------------------
The AMEX:SPY sell-off this week might be scary, and here we want to go back to the old-fashioned three-time frame concept. It works as a good road navigation. Additionally, I added the data from https://www.aaii.com/sentiment-survey to show how bearish sentiment prevails now to give us a short-term hope. The bearish sentiment at its extreme zone (twice higher vs average) gives a clue that the local bottom is near, and not acting as a trading signal On the charts, we see AMEX:SPY on a monthly, weekly, and daily basis. More noise is on a daily basis, so I want to keep an eye on the weeklies to help choose the strategy, even for intraday trading. A monthly time frame helps to add gears of consciousness (ATH, 3 bar swing formed). Blue lines form the channel, which is the Keltner Channel. It shows the tunnel of extremes as well. This means that if we reach the lower band, we may dance there for a while, and then it will bounce. Hypothetically, if we enter the bearish market, we need to see the lower low and the lower highs at least on the weeklies. For me it will tell that all bounces will be shorter (~ Fib. 0.382) and sharper, and I will adjust my expectations. Coming back to the current situation on weeklies, I see we are on a bullish trend. On dailies, obviously in a downtrend and near its local bottom. We closed the old gap, so the next potential magnet is ~575-ish support. To confirm a bounce start we want to see at least 3 bar reversal, a ka lower low formed and follow through. The sentiment brightness might be sticky, so no promises. Stay profitable! Cheers!
Recently Stopped out.. Current trade running 1:2+ “C” setup. Low volume on this… Target $2856. Looking to run back $2907. Handle is strong enough to do the job. LFG ??
I just took an entry at 188.43 stop at 187. TP has not been determined yet. 190.19 is a conservative TP. Let’s see what happens at that once price reaches that level. We may see a continuation up to 197 area. No need to over trade. Good luck have a great weekend.
In this video, we look over the possibility of spy topping out and what's next
After Gold has broken out from the rising wedge and heading for the Weekly FVG and then to the Monthly which it would soon be creating This trade idea is a great way to follow the short-term downtrend. Always remember to manage risk.
hi traders, GOOGL ready for more downside. The monthly time frame is pretty straightforward here. Huge bearish engulfing is almost confirmed. STOCH RSI with a bearish cross. It's a time to retest the 50 simple moving average. Bears will drag the price towards 135$ where we should see some bounce. Lower prices are coming. Check out our SPX analysis: https://www.tradingview.com/chart/SPX/iGSYyD2C-SPX-ready-for-the-correction/