ChfJpy is in a downtrend. You can see it on the chart. The idea is to sell this down trend. Good Luck
COST has been trading below it's most recent 200 Candles right around the $951.64 Price Level, currently consolidating and presenting an additional opportunity to get around that lower trend level (Bottom Purple) to ride this into the year. With the planned Tariffs, we plan for that to be handed down to the consumer ultimately, causing a potential continued rise in Consumer Goods through it's Cyclical Rotation throughout 2025. Getting into things like COST, WMT, TGT and KR (which we reported on yesterday) could provide some great performance in a longer-term hold and nice returns along the way. Let's see what #2025 has to bring to the table! Otherwise, connect with us everywhere you are in the meantime by visiting our website to access more of our Premium Personal Budgeting & Investment Portfolio Management Solutions to get started investing, as well as, optimize your potential for a better financial future at @MyMIWallet!
In this tutorial, we'll dive deep into the art of technical analysis using the Dogecoin USD chart as our canvas. You'll discover how to blend Fibonacci tools, Elliott Wave Theory, and the Wyckoff Method to forecast potential market movements. Whether you're new to trading or looking to refine your analytical skills, this guide will provide you with practical insights into identifying entry and exit points, understanding market phases, and preparing for future trends. Let's embark on this educational journey together to enhance your trading strategy toolkit. When in doubt, Zoom Out! Below I was looking at Arguments for a Significant Short Position Before the Continuation of the Bullish Trend and the Pursuit of New All-Time Highs Elliott Waves: From the bear market bottom at 4.5 cents, we started wave 1 and concluded with wave 5 at the current top. Following five waves, we expect an ABC correction. Waves A and B have been completed, and we are now in wave C. https://www.tradingview.com/x/iwJbpB9J/ Fibonacci 1: Trend-Based Fibonacci Extension - From the all-time high (ATH) to the recent bear market bottom, then to the current 48-cent top. The 0.382 Fibonacci level suggests a target of 0.2130 for the upcoming drop, which I believe is necessary for liquidity ahead of the next upward movement. Fibonacci 2: Regular Fibonacci Retracement - From the bottom of wave 4 to the top of wave 5, the 0.618 level is at 0.235 cents. I've marked a green box between these two targets. See in the image below how Backtesting this strategy on the two previous cycles shows that before breaking ATHs, Dogecoin always hit this 0.382 Fib level! https://www.tradingview.com/x/kXqexcdv/ I use these 2 Fibonacci targets to place the green box between them and where I expect price to go in the newxt couple of weeks. https://www.tradingview.com/x/e31fDPJ8/ Additional Observation: The green line below the 0.618 Fib retracement and above the 0.382 trend-based Fibonacci extension also marks a retest of the wave 3 high at 0.23 cents. Now that we've examined the macro perspective, let's Zoom In to the current action: Wyckoff Schematic: Check my previously published idea on Bitcoin, linked here, where Bitcoin is in a Wyckoff Distribution Schematic #1. Dogecoin seems to follow with Wyckoff Distribution Schematic #2. I've added vertical lines for phase separation, a red resistance box, and a green support box. Link to Richard D. Wyckoff, his Method and Story https://www.wyckoffanalytics.com/wyckoff-method/ . https://www.tradingview.com/x/cV098CZ2/ ABC Pattern: Wave A from top to bottom is exactly 0.222 cents or -45.81%, suggesting wave C should be of similar magnitude. Wave B measures 0.1724 cents and 65.65% to the upside. Using an arrow tool, the 0.222 cent drop points exactly to the 0.382 Fibonacci target from the trend-based extension we did in the macro analysis, now highlighted in yellow. Link to chart. https://www.tradingview.com/x/vznzakc9/ Zooming in on the 4-hour Chart: I've drawn another Fibonacci retracement just for wave B, colored in turquoise blue. Notably, the 1.272 Fibonacci extension aligns with our macro 0.382 Fibonacci target, now colored yellow for clarity. https://www.tradingview.com/x/Vu8qqGr7/ Speculations for Future Moves: Fibonacci Circle and bottom timing prediction: Drawn from A to B, this circle in orange might help us predict when we hit the green box target at the bottom. Considering that the A drop measures exactly 12 days and 4Hours I have added another vertical line now marking a timeframe of 5 days from Thursday 30 January to Monday 3 February 2025 This is speculative but worth watching. It includes also a weekend so a CME gap before weekend plus filling the week after could also be in play. Wyckoff Phases: According to earlier discussions, we're moving through phases A to E. I've added a vertical line where the Fib circle crosses our 1.272 and 0.382 Fib levels, suggesting we'll enter phase E on January 23, 2025, potentially concluding by February 2, 2025. Predictive Arrows: Blue arrows indicate possible future price movements based on current patterns. After hitting our target, I'll analyze again and publish a new idea with plans for breaking the ATH and targets for the anticipated bull market. Enough for now, as it's getting late. Give me a follow, share if you liked this analysis, and stay tuned for updates.
? **Solana primed for liftoff!** ? ? **Key Bullish Signals:** ? **Double Bottom Confirmed** – Classic reversal pattern signaling strong upward momentum. ? **Bullish Pennant Breakout** – Consolidation phase complete... now ready for explosive continuation. ? **Volume Surge** – Buyers stepping in, reinforcing strength in the move. ? **Target Zones** – $285 first stop... then $300+ in sight. ? **If momentum holds, Solana is set to rip past $300 and beyond. The market structure is screaming strength... fade at your own risk!** ?
The title kind of said it all here. Since I'm underexposed in this area and everything else that's decent and on sale today is in areas I already have exposure to, I'm taking a quick flip shot here. It's already pulled back 16% from its most recent high, so I like my odds here. Historically, the algo I use for buy signals is 251-4 on SNAP with an average gain on this type of trade being .14% per day held, or about 4x the average daily return of SPY. Earnings are soon and I hate trading near earnings, so this is designed to be a quick in and out trade. Per my usual strategy, I'll add to my position at the close on any day it still rates as a “buy” and I will use FPC (first profitable close) to exit any lot on the day it closes at any profit. As always - this is intended as "edutainment" and my perspective on what I am or would be doing, not a recommendation for you to buy or sell. Act accordingly and invest at your own risk. DYOR and only make investments that make good financial sense for you in your current situation. Lots currently held: Lot 1: 10.46
THE MOVEMENT IS CURENTLY BULLISH. Price is bouncing up and down based on horizontal support and resistance.
Bought AUDUSD through a breakaway gap after it complied with a weekly silver bullet setup.
Good Evening and I hope you are well. nasdaq e-mini futures comment: Market went a couple of points short of the previous lower high 22111 but it probably won’t mean much. We are close enough that we can retest the ath now. There is a big gap even on futures down to 21700 and if that stay’s open, bulls can go higher. We have the big upper bull trend line that goes to around 22600, so this could be a potential target. Bears need to get below 21900 to turn the market a bit more neutral. current market cycle: trading range (obvious bull trend on lower time frames) key levels: 21800 - 22600 bull case: Strong buying through the day and then a melt-up on US open. Bulls are in full control and have their eyes on the ath 22450. We have two bull trend lines that should hold. One is very close to 21980 which will likely be broken during the Globex session and the next around is currently at 21780. Invalidation is below 21700. bear case: I don’t think bulls should allow the market to fall that much if they want a new ath. Either we keep the momentum going or we might go sideways here and print another lower high. Bears are not doing anything right now except some after hours spikes but they go nowhere. Tuesday night was decent but no follow-through and we have just melted since. First target for the bears is to get below 21900 again and then test the other trend line below us. Invalidation is above 22600. short term: Bullish after pull-backs. I won’t look to short this until bears have shown much more strength. medium-long term - Update from 2024-01-22: Let’s see if we print a new ath and what kind of reaction follows. For now I think we go much more sideways 20000 - 22600/23000. current swing trade: None trade of the day: Buying anywhere below 22000 was pretty amazing since first hour in Globex printed the low.
We previously expected a reversal on multiple occasions, unsuccessfully each time. Last major prediction is visible in the chart (blurred). There were two major lines of support for ETHBTC, it broke the first one, then it bounced off the multi-cycle support line and we predicted the bottom at that stage and went long. Unfortunately, that bounce was both short-lived and weak and ultimately it reversed all the bounce and broke down BELOW the multi-cycle support line for ETHBTC. We will not be shorting this, but the long-time frame for ETHBTC is now in the bearish mode. Potential key levels to watch are marked below.
https://www.tradingview.com/x/PMDNiKy2/ Hello,Traders! CHF-JPY keeps growing But will soon hit a horizontal Supply level of 173.212 From where a local bearish Correction is to be expected Sell! Comment and subscribe to help us grow! Check out other forecasts below too!