Natural Gas (XNG/USD) has spiked to revisit the $4 price zone, activating my short trade. This marks the second time in two years that the price has reached this significant resistance area. The $4 level is pivotal, serving as a key psychological barrier and a historic zone of strong price action. With the position now live, I am leveraging the resistance for a retracement opportunity. Fundamentals: • Weather and Seasonal Demand: Short-term spikes in demand are driven by cold weather in the U.S., but with futures traders starting to focus on spring, we may see waning bullish momentum in the coming weeks. • Russian Gas Supply Constraints: Limited Russian gas flows to the EU continue to add uncertainty to the market, but the current rally seems to be pricing in short-term factors rather than long-term structural changes. • Historical Levels: The $4 spot price has attracted significant attention as a resistance zone, with $3.40 acting as a key support in recent months. The bounce from this level earlier this year highlights its importance. • Market Behavior: Futures traders’ sentiment and seasonality are critical drivers. As winter progresses, reduced speculative demand may favor a bearish pullback. Technicals: • Entry: $4.00 (Resistance Zone) • Target: $2.60 - 2.70 • Partials: From $3,19 • Stop Loss: $4.40 (Above Recent Highs) • Timeframe: 12H This short trade aligns with technical, fundamental, and seasonal narratives. As the price has shown rejection at this zone, I will actively monitor for a breakdown toward the $3.40 level while managing risk prudently. Stay disciplined, follow your trading plan, and remember to pay yourself as the market unfolds. Note: Please remember to adjust this trade idea according to your individual trading conditions, including position size, broker-specific price variations, and any relevant external factors. Every trader’s situation is unique, so it’s crucial to tailor your approach to your own risk tolerance and market environment.
https://www.tradingview.com/x/En7Ck6Tw/ ✅AUD_USD is set to retest a Strong support level below at 0.6171 After trading in a local downtrend from some time Which makes a bullish rebound a likely scenario With the target being a local resistance above at 0.6224 LONG? ✅Like and subscribe to never miss a new idea!✅
Multiple indicators confirm that this is a short term bottom - capitulation. "blood on the streets" I was hoping for a correction so i could pick up - i did - and it kept going down :D With average -9% in my portofio, this is about sitting and waiting game, for the inevitable tide to turn. This is my idea, - backed by indicators highlighting significant oversold momentum, suppressing the price. I expect this to pivot in the days, weeks to come to bank double digits upside. Happy New Year 2025. See you Moon-side!
The pattern in the chart is a falling wedge. This formation typically occurs when the price consolidates between two converging downward-sloping trendlines. It is good to consider an opening a long at this area and keep it till $5.26 range for #TON Falling wedges are generally considered a bullish reversal pattern if they appear after a downtrend or a continuation pattern in an uptrend. The breakout typically occurs to the upside. Keep Long Upto 5.26 and wait for the breakout #TON
0.36 Key resistance to break Momentum setup with strength coming
## ? Comprehensive Technical Analysis of the Market ### 1️⃣ Overall Market Trend - **ADX (Average Directional Index):** The current ADX value is 34.68, indicating a moderate to strong trend. With +DI (38.09) significantly higher than -DI (13.90), the market is currently assessed as bullish. ? **Impact on Decision-Making:** The dominance of buyers suggests that the bullish trend may continue unless signs of reversal emerge. Traders can anticipate further upward momentum. --- ### 2️⃣ Overbought and Oversold Conditions - **RSI (Relative Strength Index):** The current RSI is 69.71, close to the overbought zone (70+). - **Stochastic Oscillator:** %K is at 82.00, and %D is at 87.64, indicating the market has entered the overbought zone. ? **Impact on the Market:** Being in the overbought territory suggests a higher likelihood of short-term corrections or price pullbacks. Traders should avoid opening new long positions and prepare to reduce or exit positions if price patterns indicate a reversal. --- ### 3️⃣ Moving Averages Analysis (EMA and SMA) - **Short- and Long-Term Moving Averages:** All moving averages (EMA and SMA) across 10, 20, 50, and even 200-day periods indicate bullish signals. - Example: EMA10 at 0.94 is above SMA10 at 0.95, and the current price of 0.9594 is above all averages. ? **Impact on Trend:** This alignment confirms the continuation of the bullish trend, making it an opportune time to enter long positions, provided stop losses are set. --- ### 4️⃣ Key Indicators Analysis - **MACD (Moving Average Convergence Divergence):** The MACD value of 0.0258 is above its signal line at 0.0209, issuing a weak buy signal. - **Momentum Indicator:** Momentum is at 0.04, reflecting a slight upward trend. - **CCI (Commodity Channel Index):** CCI20 is at 83.12, nearing overbought conditions. ? **Conclusion:** Indicators generally favor bullish momentum, but caution is advised due to potential corrections. --- ### 5️⃣ Key Support and Resistance Levels - **Support Levels:** - Support 1: 0.8229 (Classic S1). - Support 2: 0.7868 (Fibonacci S3). - **Resistance Levels:** - Resistance 1: 0.9229 (Classic R1). - Resistance 2: 0.9868 (Fibonacci R3). ? **Significance:** Support levels can be used as potential entry points, while resistance levels can serve as targets for taking profits or exiting positions. --- ### ✅ Summary and Actionable Insights ? **Recommendation:** The overall signal is bullish, but given the overbought conditions (RSI and Stochastic) and proximity to resistance levels, traders should exercise caution. Risk management is crucial, with stop-losses set near support levels. ? **Reasoning:** Momentum and MACD confirm the bullish trend, supported by strong moving averages. ⚠️ **Disclaimer:** This analysis is fully automated and generated by AI. Please use your own expertise and ensure proper risk management before making any decisions.
Price is coiling up for the second half of this fractal pattern (Rally C) and I'm looking at a bottom some time around February as the last pattern took off around the same time The reason for this forecast to hit the Demand level again is because of the divergence move seen on the Trend Reader, and the fractal pattern itself calls for a retest back to demand Long term EMA is projecting flat readings for the future and this can also give us a signal for price to slam back down. Trend Reader The Short Term Signal Line is racing back to the oversold zone and once the crossover takes effect we should see price shoot back up Looking back at the Long Term Signal Line its projecting that long term momentum is dying off and that after we hit this next high we can expect price to selloff like shown before with the last divergence pattern. Targets 7.7 Cents 13 Cents 16 Cents
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