Good Evening and I hope you are well. comment: CPI was the gift to the bears and what was the perfect setup for continuous selling to the lows of this bigger trading range, became the ultimate bear trap. Bears now have only 2 daily bear bars during the past 8 trading days and today printed a really nasty reversal bar. We are still making lower highs but if bears can’t stay below 21900 tomorrow, I think we could see a bullish breakout above for a retest of the ath. current market cycle: trading range key levels: 21500 - 22000 bull case: Bulls probably burned enough bears today that many will give up until we see bigger selling pressure instead of single sell spikes. That opens the possibility for the bulls to print higher highs above 21900 and test the previous monthly high at 21967. If bulls are strong enough tomorrow, it could setup the next impulse higher to retest 22450. Invalidation is below 21400. bear case: Likely that bears are done with these reversals and they could give up tomorrow because market clearly rejects lower prices. Bears now had 5 big spikes down in the past 8 trading days and all were rejected hard. Above 21967 I highly doubt bears will fight this if we get above 21967. What would the bears need to keep this another lower high and go down? Yeah right. Neither trade war stuff nor the hot cpi print could bring this down. If somehow bears manage to get strongly below 21750 tomorrow, there is a small chance of more downside to 21670 but at this point it’s very low probability. Invalidation is above 21970. short term: Can’t be bear after such a trap today. Bulls need something above 21967 and if they get it, it’s a clear buy signal and we likely melt higher. Bears having more arguments if they strongly go below 21760 again but it would likely turn the market neutral at best. Middle of this range is still 21700. medium-long term - Update from 2024-02-09: Another lower high but also higher lows. Bears are not doing enough, so we are in a trading range below the ath. We are close to it that there is always the possibility of printing a higher high again. Bears need lower lows below 20600 before we can talk about 20000 again. trade of the day: I am always flat into bigger news releases, so shorting into cpi was out of the question. Could you buy the big cpi print near 21500? Well, I would not and I did not. Why? Of course bulls reversed most this week but the spike was so huge, it could have easily become a risk-off event. Biggest question today was, when should you have joined the bulls and when did it became clear that bears can not retest the lows again? Bar 19 had a huge tail below, bears tried to test down to 21500 but failed. Bulls then printed another very strong 5m bar and if you did not want to go long like me, it should have been at least the death for bearish price action for that moment since if bears would have been strong, those big bull bars would have never happened or would have at least been followed by a bear bar and bulls just printed consecutive bull bars.
- Bitcoin reversed from the support area - Likely to rise to resistance level 100,000.00 Bitcoin cryptocurrency recently reversed up from the support area between support levels 93775.00 and 90000.00. This support area has stopped the previous corrections 4, A, C and 2, as can be seen below. This support area was further strengthened by the lower daily Bollinger Band and by the 38.2% Fibonacci correction of the upward price impulse from November. Given the clear daily uptrend, Bitcoin cryptocurrency can be expected to rise to the next round resistance level 100,000.00.
The stock was in a strong downtrend, but it seems to be reversing to the upside. On the bright side, or the bullish side, the price has started making higher highs and higher lows, which could be a good sign if we consider this recent downtrend a pullback within a larger uptrend. On the bearish side, this is a very risky trade, as bears could put pressure on the price and drive it lower to sweep the liquidity below 6.4 EGP. Also, I haven't been following the news lately, but it seems there was some negative news that drove most Egyptian stocks lower. I’m not exactly sure what the news was or how long its impact will last. To sum it up, if you have the patience, wait for the stock to reach 6.1 to 6.3 EGP before going long. Otherwise, you can enter long now, but keep your stop-loss tight, as identified. DYOR and read the news to understand what caused the stock market to decline and what the expectations are for the general financial situation in the coming period.
Robinhood stock skyrockets +15% after incredible earnings. Question is if the stock will staright continue its path up, since it had a very long and huge bullish trend. Meaning, the next retracement could be severe. But there is not much data to work with meaning it could do the Rolls Royce move and continue endless to be bullish. For me this stock even with incredible earnings is playing with fire i don´t like American hype stocks, since when they have scandals they are punished extrem. Best luck for anyone betting for more.
Hello, traders. If you "Follow", you can always get new information quickly. Please also click "Boost". Have a nice day today. ------------------------------------- (MBT1! 1D chart) https://www.tradingview.com/x/pNfCTMNf/ There are many indicators formed over the 96600-102095 section. Therefore, the key is whether it can break through this section upward. In particular, we need to look at whether it can be supported and rise in the 98105-100700 section. - In order to turn into an uptrend, the price must rise above the Trend Cloud indicator and maintain it. The Trend Cloud indicator is a combination of the existing 5EMA+StErr indicator and the MS-Signal indicator to increase intuitiveness. Since it is currently below the Trend Cloud indicator, if it fails to rise above 98105, there is a possibility that the downtrend will continue, so caution is required. If the downtrend continues, the key is whether there is support near 91435, which was the previous low point. Therefore, in order to trade with a long position, it is recommended to check that the price is maintained above the Trend Cloud indicator and proceed. - (30m chart) https://www.tradingview.com/x/7AH3gMxb/ - Thank you for reading to the end. I hope you have a successful trade. --------------------------------------------------
Good to know that 107k should be easily passed on the next impulse! CHEERRRS...!!!
My Current Bitcoin Analysis In my opinion, Bitcoin is targeting the $102K range, based on the following key factors: The sharp rally in Bitcoin’s price immediately after the release of the inflation report was primarily driven by Jerome Powell’s statement that inflation is expected to decline to around 2% by 2027 —a level considered ideal for economic stability. While this reaction may seem unusual at first glance, the market likely interpreted Powell’s stance as a confirmation that no further inflationary pressures are expected in the near future. This, in turn, led to the assumption that interest rate hikes are off the table for now, creating a favorable environment for risk assets like Bitcoin. As a result, the price **quickly rebounded and resumed its bullish trend**, reinforcing the ongoing uptrend. Let’s see how the market develops in the coming days. Good night, friends! ?
Current Price: $71.16 (-2.70%) Timeframe: Daily (1D) 1. Trend Analysis (Bearish Bias) The price is in a downtrend, as shown by the descending green trendline. Lower highs and lower lows indicate continued bearish momentum. The price recently rejected the upper trendline, reinforcing the downtrend. 2. Key Support and Resistance Levels Resistance Zone: $72.50 - $73.00 (Previous structure resistance). Minor Support: Around $70.00. Major Support Zone: $65.00 - $66.00 (Highlighted pink area). 3. Price Action & Market Structure The recent price action shows rejection from resistance and a bearish engulfing candle, signaling more downside pressure. A break below $70.00 could confirm further selling toward the $65.00-$66.00 support. If the price bounces at $65.00, it could trigger a reversal or consolidation. 4. Trading Strategy Bearish Setup: Short below $70.00 with a target of $65.50-$66.00. Stop-loss around $72.50 (previous resistance). Bullish Reversal: If price breaks above $73.00, consider a long position with a target of $75.00-$77.00. Conclusion The market is in a clear downtrend, and the price is approaching a key support area. A breakdown below $70.00 could lead to further downside, while a strong bounce from $65.00 may provide a bullish reversal opportunity. Would you like additional indicators like RSI, MACD, or volume analysis?
US Crude Oil is stuck in a long consolidation pattern with the price stuck between 85 $ and 65 $. With Crude Oil unable to break the sideways consolidation pattern Dr Copper is making new highs in a recent month. On the weekly price chart of the world’s most traded commodity i.e. Crude Oil where we see a consolidation for more than 12 months. With new US administration the Crude output is estimated to go up, which will put downward pressure on the Crude Prices $USOIL. TVC:USOIL prices will most probably remain range bound within the 0.612 and 0.5 Fib retracement levels with prices ranging between 80 $ and 65 $. But we see the prices of Dr. Copper remain in a bullish trend over the last 5 years. At a Macroeconomic level CAPITALCOM:COPPER prices are a leading indicator of the strength of the economy. With Stock market index making new highs across markets CSEMA:S&P , IG:NASDAQ , TVC:DEU40 and macro economy doing well, CAPITALCOM:COPPER prices are expected to remain strong. So Long CAPITALCOM:COPPER , neutral $USOIL.
As predicted, gold respected EMA10, support of 2870 and the exponential line. Although CPI data was stronger than expected, gold briefly touched the exponential line and bounced back. A nice and strong pin bar was also printed yesterday on daily TF. Gold will continue to rise to another ATH today. 1st target is 2963 and 2nd and final is 2991. We may face a strong resistance at 3k.