If looking to long, we have a complete APF (bat) and this is the price we want to take long trades as SL is just below pattern's X point for a better RRR. Trade with care.
In a previous post on Oil from December 9th (please take a look at our timeline for details) we highlighted that prices were back to an interesting level on the chart. Tests of an uptrend, which had been forming since the September 10th low at 65.63, were being seen as a sideways range in price developed. It was suggested at the time that traders may be watching this support level, as closing breaks below it might expose a more extended phase of price weakness, or if the support held, upside pressures might emerge once more. As we now know, the support level remained intact and a strong price rally was seen up to 81.01, the January 15th session high. However, as impressive as the December/January Oil price strength proved to be, after trading to the 81.01 January 15th highs, there was an equally significant failure of upside momentum, as sellers materialised again. This saw a sharp decline in Oil prices, all the way down to 67.11 the latest correction low posted on March 4th. Now, this last move lower has been in response to concerns about the demand outlook for Oil across the rest of 2025 as President Trump’s tariffs on key trading partners Canada, Mexico and China took effect and were met by retaliatory tariffs back on US goods. The fear is that an escalation of trade wars will negatively impact the global economy, and the ensuring slowdown will see the demand for Oil reduce. Whether it does or not remains to be seen, but Oil prices may remain volatile across the rest of this week as traders receive more tariff updates and start to focus on key US economic data in the form of the US ISM Services PMI, released tomorrow at 1500 GMT, and then the all important US Non-farm Payrolls, which is released at 1330 GMT on Friday. Technical Focus: https://www.tradingview.com/x/2rINDeGj/ What is now interesting with the chart above, is that Tuesday is seeing breaks under the support offered by the uptrend, which if confirmed on a closing basis, may in turn suggest the possibility of a more extended phase of Oil price weakness. This type of break lower in price is no guarantee of further declines and much will depend on future price sentiment and trends, but if it does happen, being aware of possible support levels, can be helpful. Technical Update: Potential Oil Price Downside Focus https://www.tradingview.com/x/iblQCKxa/ Previous correction lows are often a good place to start, as they have held declines before and seen prices rally, so are potentially areas where buyers maybe found again. With this in mind, 66.75, the November 18th low, or even 65.63, which was the September 10th low, may well be worth watching as possible support levels. Now, if these lower supports do give way on a closing basis, it’s not out of the question from a longer term perspective that there could be potential for an even deeper decline. If this is the case, as highlighted on the chart above, it might prove to be 63.68, which was the May 2023 low, or even 61.91, which was the November 2021 low that could in time come into focus. What if the Support Holds? Now, with so much uncertainty, it is possible that these support levels hold, so having some potential resistance levels to consider if there is a bounce can also be useful. Half of this week’s sell-off stands at 68.84, which if broken to the upside may suggest greater risks for continued Oil price strength. However, as recently proved to be the case when the market recovered into the 68.47 February 20th price high, it was the declining Bollinger mid-average that limited and then reversed the rally back to the downside. https://www.tradingview.com/x/2rINDeGj/ So, it could be this mid-average, which currently stands at 70.95, that traders might feel is a more challenging resistance area to overcome. Certainly, it would need to be broken on an upside closing basis, before evidence might turn towards a more extended retracement of January/March price declines. The material provided here has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Whilst it is not subject to any prohibition on dealing ahead of the dissemination of investment research, we will not seek to take any advantage before providing it to our clients. Pepperstone doesn’t represent that the material provided here is accurate, current or complete, and therefore shouldn’t be relied upon as such. The information, whether from a third party or not, isn’t to be considered as a recommendation; or an offer to buy or sell; or the solicitation of an offer to buy or sell any security, financial product or instrument; or to participate in any particular trading strategy. It does not take into account readers’ financial situation or investment objectives. We advise any readers of this content to seek their own advice. Without the approval of Pepperstone, reproduction or redistribution of this information isn’t permitted.
Like the long here on OLPX. Lots of potential on the upside. Sure price can hang out in this range for a long minute, but calculate your risk into $0 and you can withstand the drawdown without thinking. Company is net profitable, EBITDA is tripe the net profit and has a significant amount in Free Cash Flow. Even though earnings are down from previous years. This company can weather the storm. The initial upside back to $2.80-$3.00 but long term see OPLX in the $7-9 range+ https://elite.finviz.com/quote.ashx?t=OLPX&p=d
usdjpy is in bearish run as it is making AB=CD harmonic pattren with no divergence.
Now that Interactive Strength Inc, NASDAQ:TRNR is starting to have better revenue, we have decided to place our purchase price at $2.70, now we are holding this position. https://www.tradingview.com/x/loo740ei/
Ripple (XRP) has just triggered a major bearish signal by breaking below the crucial support level of $2.3575. This recent move is a significant indicator for potential further declines in the price of XRP. Investors and traders should closely monitor this development, as the break below $2.3575 could lead to an acceleration in bearish momentum. Looking ahead, the next major support area to watch is around $1.7. If Ripple's price continues to descend, we can expect it to potentially target this next critical support level. Traders might consider this as a strategic point for assessing market responses, with the possibility of further downside if this level fails to hold. It is advisable to approach trading with caution during this period and consider adjusting stop-loss orders to manage risks effectively. This bearish development could present opportunities for short sellers, but also warrants vigilance for any signs of a reversal or support at lower levels.
This is a intraday short term trade. Yesterday price stopped at the L-MLH as expected. Today we have the second bounce at it. A nice second chance for a long entry. Target is the Centerline and above.
XauUsd chart Anylisis 1Hour idea ? Trade at own your risk use proper money management ☺️
Setups for long and short can be seen in the chart. Let's just wait for further market/price action. Trade with care.
I'm inclined to believe that we are going to see a rotation into value, if we base and support off of the 200 DMA.