Drummond Geometry emphasizes the importance of understanding and utilizing multiple time frames for trading. It outlines that higher time periods (HTP) provide critical directional context, while lower time periods (LTP) offer granular confirmation and entry/exit signals. This interplay allows traders to align their trades with the broader market structure while timing their actions effectively. For example, strong resistance in the HTP might signal a downtrend in the LTP, guiding shorter-term trading strategies within a defined market context. https://www.tradingview.com/x/OC51pAPx/ Trading Idea Based on Time Frames: Strategy: Higher Time Frame Support/Resistance Alignment 1. Objective : Trade in the direction indicated by the higher time period while fine-tuning entries and exits using the lower time period. 2. Setup : - Identify strong support or resistance in the higher time period (e.g., daily or weekly charts). - Confirm the trend's alignment in the lower time period (e.g., hourly or 15-minute charts) by observing price movement or the behavior of key levels like PL Dots. 3. Execution : - Enter trades on the LTP when it confirms the HTP direction (e.g., breakout of a lower time resistance in an uptrend supported by the HTP). - Exit trades when the LTP shows reversal signals or approaches a critical HTP level. This method ensures alignment with the market's broader context while allowing for precision in execution.
ETC will follow the Ethereum, I think we are bullish all the way.
Already entering this long on pretty good R:R Entry Zone: 3.1 - 3.3 Take-Profits are: 3.6 4.2 4.9 6.0 SL: 2.85 Right under the last 8H Demand Zone
Welcome back! Let me know your thoughts in the comments! ** GBPUSD Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!Welcome back! Let me know your thoughts in the comments!
Bulls recovered nicely after giving up $95k. We have a couple of shorter term bull flags on the 15m now as it approaches $100k again. The last one led to a nice breakout and we're sitting at the top end of the current one. A breakout above could be the beginning of the final run to $100k. If it fails and falls back below $95k, next stop would be the recent low around $90k.
if this strategy works than it will be our road to sh1t load of money , lets make it work
So there is 4 major sectors that Drive the QQQ and tech overall.. I like to know what the sectors are doing/showing to get an edge on where QQQ is headed. Imagine QQQ being a car, and each sector is important part to that car (Transmission, Engine) Here are the 4 sectors and 2 of the biggest names in each sector XLK -Msft , Aapl XLC - Meta, Googl, Nflx SMH - NVDA , TSM XLY - AMZN, TSLA Qqq weekly chart (Log scale) Price is at the top of a 16yr channel. We tagged the top back in July high and most recently right after trump election rally; both time price got smacked down. The only time price has broke. Out of this channel was with the stimulus liquidity back in 2021. https://www.tradingview.com/x/ww74OaDB Daily chart shows a rising wedge at the top of the weekly channel https://www.tradingview.com/x/EIYsD1dk If we were to trade inside this wedge then then the top is a around 512. Lets say we we broke out of the rising wedge and pushed back up to the weekly channel, that move would take us to a new high of 520 where we would then sell again. Now let's say we break to the downside of this wedge , that correction would be 10% and would pullback to 460 price action minimum. Maximum we target weekly channel bottom around 390- 400. https://www.tradingview.com/x/zIQU0jwH Lets start with XLK, this chart mirrors QQQ the most Daily chart similar rising wedge pattern here https://www.tradingview.com/x/2ZM3QI2p Bearish below 228. Below 228 and the corr3ction has started. NASDAQ:AAPL has been keeping this propped up nicely but now aapl is at a brick wall IMO Here's aapl chart weekly https://www.tradingview.com/x/LU4ILxui Top of trendline and resistance at 237. More importantly is aapl 4 hour money flow just went off.. The thing about indicators is you have to know which ones work well with which stocks and time frame and aapl 4hour Mfi is about 80% reliable and this one is telling me SELL. So back to XLK 2hour chart and you can see that this week we will either have a double top below 228 or a pennant.. I'm thinking sell early since aapl is at resistance then let job's decide later .. if they do prop it will be more from msft than aapl. https://www.tradingview.com/x/v7ps116f XLC Daily chart that shows rally from 2022 lows. https://www.tradingview.com/x/RcndrlFM Price has stayed contained inside channel up until Nflx rally + Trump election.. Now we are outside channel but trading inside a baby wedge. I think for the month of December this sector will double to 88-91 price action.. Daily MFI just lit up and weekly candle outside Bband https://www.tradingview.com/x/5JKtOs1A XLY Weekly chart (Log scale) Riding the top of its Bbands near channel but price has room for 230 if it wants. Weekly candle is now 14% extended from its 20sma; when this happens usually within the course of the next 4-6weeks price pulls back to test the weekly 20sma. https://www.tradingview.com/x/4hyaY8s9 Daily chart If price breaks back below 220 then we began a pullback to 212 or previous ATH from 2021. Below 212 and it's a double to back to 205 https://www.tradingview.com/x/V1dioqwf Lastly is Chip sector NASDAQ:SMH Weekly chart (Log scale) Price went parabolic back in 2020 from the supply chain issues and broke above 10yr resistance before correcting back inside. Fast forward and it looks like deja vu all over again. Price is hovering right at trendline and if we fall back inside that would mean a nasty year/years ahead for chips https://www.tradingview.com/x/NvwWzR71 Close up of the weekly, more immediately looks like price is headed back to its 2 year trendline support around 220 Daily chart.. pretty simple here. Descending triangle that will flush below 237 but could turn into a double bottom over 248 https://www.tradingview.com/x/9AeGfNrM Over 248 (50sma) and we close gap at 260 and retest rising wedge https://www.tradingview.com/x/1eIJrBbR The crash scenario for chips is if SMH loses 200.00 price. But I think It's a when not if. In the mean time look for the pullback to 215-220 even if we bounce to 260 . So to sum it up For tech we are either Extended at a brick wall or outright bearish.. Nothing looks like a buy and swing to me.. you may see fawkery until they decide to break the wedge on Qqq.. what do I mean by Fawkery? Well since aapl is at resistance and let's say they don't want a full sell on XLK yet, they may prop up Msft with some fake news/Upgrade and this keeps XLK above its 20sma. I'm looking for a sell on Qqq this week and for the wedge to be broken to the down side. My immediate target first 2 weeks of Dec is 484 https://www.tradingview.com/x/9JLU9hxF
Here’s a quick update on USDT Dominance (USDT.D): The last time I posted about USDT.D, I specifically mentioned a drop to 3.8%, followed by a rebound. Currently, USDT.D has reached 4% and has dipped as low as 3.95% so far. This is a point where we need to stay vigilant with our positions. If the rebound happens anywhere near the support level, it’s likely to push USDT.D back to the trendline or resistance at 4.8%. Such a move could trigger a healthy correction in the market—in other words, a final chance to buy the dip. With just one day left until the weekly close, let’s observe the market carefully. Always conduct your own research and analysis before investing.
REN, is exhibiting some similar pre-massive-surge PEPE metrics based on its recent price behavior. This just means that we may see some exponential rise ahead in the next coming days. This has waterfalled heavily from its peak glory after reaching a parabolic high of 1.8 to being pulled down weightily to extreme 0.030 levels. Now, a long term shift has been registered based on recent metrics, and its a massive shift. The consolidation has lasted for 2 years. Its been deprived for far too long. But signs of awakening is being felt the last few days. I have published PEPE before its multiple x era -- and this is exhibiting the same characteristics. The current price range is an ideal seeding opportunity. Spotted at 0.050 Target 10x and beyond. TAYOR. Trade with safety always.
All we can do now is wait for the main red resistance line to break through from the red arrow. so watch it carefully