XAGUSD Massive success on last trade now looking for the next!
Silver (XAGUSD) gave us a very successful sell trade on our last analysis (see chart below) on April 12:
https://www.tradingview.com/chart/XAGUSD/kHE607h7-XAGUSD-First-major-sell-signal-in-3-months/
The price rebounded right before hitting the 21.715 Pivot because it touched the 1W MA200 (orange trend-line). Even though May's rejection was done at the top (Lower Highs trend-line) of the Channel Down that started in August 2020, we may witness the break-out above this bearish structure finally as since the August 29 2022 bottom, a Bullish Megaphone and later a Channel Up are guiding the price action.
On top of that, Silver is completing the first 1W Golden Cross since May 2020. In any case we will not jump on this impulsively but rather wait for a clear bullish break-out signal, which will be if a 1W candle closes above the Lower Highs trend-line. In this case we will target Resistance 1 (26.230) and Resistance 2 (26.935) respectively. If the price gets rejected on the Lower Highs instead, we will wait for a buy on the 1W MA50 (blue trend-line).
Notice also the 1W MACD Bullish Cross that is about to be formed, indicating that a continuation of the current uptrend might be more probable than a rejection.
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Silver (XAGUSD) gave us a very successful sell trade on our last analysis (see chart below) on April 12:
https://www.tradingview.com/chart/XAGUSD/kHE607h7-XAGUSD-First-major-sell-signal-in-3-months/
The price rebounded right before hitting the 21.715 Pivot because it touched the 1W MA200 (orange trend-line). Even though May's rejection was done at the top (Lower Highs trend-line) of the Channel Down that started in August 2020, we may witness the break-out above this bearish structure finally as since the August 29 2022 bottom, a Bullish Megaphone and later a Channel Up are guiding the price action.
On top of that, Silver is completing the first 1W Golden Cross since May 2020. In any case we will not jump on this impulsively but rather wait for a clear bullish break-out signal, which will be if a 1W candle closes above the Lower Highs trend-line. In this case we will target Resistance 1 (26.230) and Resistance 2 (26.935) respectively. If the price gets rejected on the Lower Highs instead, we will wait for a buy on the 1W MA50 (blue trend-line).
Notice also the 1W MACD Bullish Cross that is about to be formed, indicating that a continuation of the current uptrend might be more probable than a rejection.
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Fairdesk Giveaway Announcement ($100 Giveaway) 📢
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Head over to Fairdesk, create an account, fund your account and open order
1. Sign up with my link https://bit.ly/tradingshot
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Note:- This offer is based on a first-come, first-serve and the offer ends 1st August.
About Fairdesk
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To Qualify for the $100 bonus Giveaway (3 winner) 🥳🎉
Head over to Fairdesk, create an account, fund your account and open order
1. Sign up with my link https://bit.ly/tradingshot
2. At least open 1 order at copy trade or future trade
Note:- This offer is based on a first-come, first-serve and the offer ends 1st August.
About Fairdesk
✅ FREE VIP 1 for 5% trading fee discount
✅ No KYC compulsory for all regions user
✅ Get Extra bonus On Deposit (UP TO $100000)
✅ USA MSB License
✅ Offer Up To 125x Leverage
✅ At least 5% trading fee rebate as USDT
✅ CMC listed
How to copy Tradingshot’s trades on Fairdesk:
1. Sign up with link below
https://fairdesk.com/signup?vipCode=TradingShot
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4. Search TradingShot
5. Any trade we take and profit you profit as well
1. Sign up with link below
https://fairdesk.com/signup?vipCode=TradingShot
2. Fund any amount of $
3. Click on copytrading
4. Search TradingShot
5. Any trade we take and profit you profit as well
DOGEUSD will trade sideways for another 6 months at least.
Dogecoin (DOGEUSD) is trading on its 1W MA50 (blue trend-line), practically consolidating ever since the massive rejection of October 24 2022 on the 1W MA100 (green trend-line). This sideways price action is serving as the Bull Cycle's Accumulation Phase, before the final parabolic rally that will take DOGE to a new All Time High. This is at least the pattern that was followed in the previous two Cycles.
The date range from the top of the previous Cycle to roughly the end of the Accumulation Phase and the start of the Parabolic Rally has historically been 150 weeks (1050 days). A 1W MA50/ 1W MA100 Bullish Cross comes as a final confirmation to buy.
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Dogecoin (DOGEUSD) is trading on its 1W MA50 (blue trend-line), practically consolidating ever since the massive rejection of October 24 2022 on the 1W MA100 (green trend-line). This sideways price action is serving as the Bull Cycle's Accumulation Phase, before the final parabolic rally that will take DOGE to a new All Time High. This is at least the pattern that was followed in the previous two Cycles.
The date range from the top of the previous Cycle to roughly the end of the Accumulation Phase and the start of the Parabolic Rally has historically been 150 weeks (1050 days). A 1W MA50/ 1W MA100 Bullish Cross comes as a final confirmation to buy.
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NATURAL GAS Buy lower, sell the break-out
Last time we looked into Natural Gas (NG) we called for a buy entry (see chart below) right after the contact at the bottom (Higher Lows trend-line) of the Bullish Megaphone:
https://www.tradingview.com/chart/NG1!/gLhfdRJs-NATURAL-GAS-Buy-signal-unless-this-Higher-Lows-line-breaks/
The 2.550 target has been hit but the rise didn't stop there, breaking even above the former 2.690 Resistance and making a Higher High in the process. The price is right now above the 1D MA50 (blue trend-line) but in terms of Risk/ Reward neither a favorable buy or a sell. We are willing to buy at 2.400 with a tight stop just below the Megaphone's Higher Lows trend-line and target 2.800 (below Resistance 1). If a 1D candle closes below the bottom (Higher Lows trend-line) of the pattern, we will sell and target the 1.950 Support.
The 1D RSI is trading inside a Channel Up pattern. If broken, it will be a first confirmation of a bearish break-out signal.
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Last time we looked into Natural Gas (NG) we called for a buy entry (see chart below) right after the contact at the bottom (Higher Lows trend-line) of the Bullish Megaphone:
https://www.tradingview.com/chart/NG1!/gLhfdRJs-NATURAL-GAS-Buy-signal-unless-this-Higher-Lows-line-breaks/
The 2.550 target has been hit but the rise didn't stop there, breaking even above the former 2.690 Resistance and making a Higher High in the process. The price is right now above the 1D MA50 (blue trend-line) but in terms of Risk/ Reward neither a favorable buy or a sell. We are willing to buy at 2.400 with a tight stop just below the Megaphone's Higher Lows trend-line and target 2.800 (below Resistance 1). If a 1D candle closes below the bottom (Higher Lows trend-line) of the pattern, we will sell and target the 1.950 Support.
The 1D RSI is trading inside a Channel Up pattern. If broken, it will be a first confirmation of a bearish break-out signal.
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META Is this the start of a significant correction?
Since November last year we have been issuing a strong buy signal on Meta Platforms (META) and our most recent analysis on February 02 (see chart below) came with a huge final bullish warning while the price was still at $189.00:
https://www.tradingview.com/chart/META/u3iEAzx2-META-You-were-warned-This-is-a-V-shaped-recovery/
The stock hit $320.00 last week, almost filling the gap with the 1W candle of January 31 2022 (practically META's start of collapse) and pulled-back. The big question on the market this week is, can that be the start of a greater correction?
Well technically it is testing today the first key support level, the Higher Lows trend-line (bottom) of the 6 month Channel Up pattern that started in late February. If broken, it is unlikely to see the 1D MA50 (red trend-line) hold.
The key (technical) reason behind it, is the massive Bearish Cross that got formed this week on the 1W MACD. This is a major development as it is a rare event that always initiated a rather notable pull-back. More specifically, in the past five (5) years, we have had another six (6) 1W MACD Bearish Crosses, all making a Lower Lows after it. The minimum correction was -17.33% while the maximum -43.50%. Practically META made its large corrections (-43.50%, -38.60%) when it faced legal action and during the pandemic. The rest standard (technical) pull-backs ranged from -17.33% to -19.70% (also -28.15% on the last Bearish Cross but fundamentals were also present).
This is the reason we expect a pull-back below the 1D MA50 if the Higher Lows of the Channel Up fail (to close 1D candles above it). The minimum projected correction range of -17.33% would give us a pull-back to $265.00. A -19.70% would give $256.00.
That would start making META a technical buy again, where long term investors can start applying buying strategies with a tolerance level up to the 1W MA50 (blue trend-line).
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Since November last year we have been issuing a strong buy signal on Meta Platforms (META) and our most recent analysis on February 02 (see chart below) came with a huge final bullish warning while the price was still at $189.00:
https://www.tradingview.com/chart/META/u3iEAzx2-META-You-were-warned-This-is-a-V-shaped-recovery/
The stock hit $320.00 last week, almost filling the gap with the 1W candle of January 31 2022 (practically META's start of collapse) and pulled-back. The big question on the market this week is, can that be the start of a greater correction?
Well technically it is testing today the first key support level, the Higher Lows trend-line (bottom) of the 6 month Channel Up pattern that started in late February. If broken, it is unlikely to see the 1D MA50 (red trend-line) hold.
The key (technical) reason behind it, is the massive Bearish Cross that got formed this week on the 1W MACD. This is a major development as it is a rare event that always initiated a rather notable pull-back. More specifically, in the past five (5) years, we have had another six (6) 1W MACD Bearish Crosses, all making a Lower Lows after it. The minimum correction was -17.33% while the maximum -43.50%. Practically META made its large corrections (-43.50%, -38.60%) when it faced legal action and during the pandemic. The rest standard (technical) pull-backs ranged from -17.33% to -19.70% (also -28.15% on the last Bearish Cross but fundamentals were also present).
This is the reason we expect a pull-back below the 1D MA50 if the Higher Lows of the Channel Up fail (to close 1D candles above it). The minimum projected correction range of -17.33% would give us a pull-back to $265.00. A -19.70% would give $256.00.
That would start making META a technical buy again, where long term investors can start applying buying strategies with a tolerance level up to the 1W MA50 (blue trend-line).
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BITCOIN On the 1D MA50 again after 5 weeks!
Bitcoin (BTCUSD) hit today the 1D MA50 (blue trend-line) for the first time since the June 20 bullish break-out. This is the first level of Support and potential buy entry for medium-term traders. Our condition is that the 1D candle has to close above the 1D MA50 as on the April 24 and February 13 similar bottoms. Those delivered a +11.44% and +18.18% rise respectively. As a result, if the candles keep closing above the 1D MA50 we can see an immediate upside on BTC ranging from 32200 to 34200.
Notice also that the 1D RSI hit the bottom of the Symmetrical Support Zone, formed by the lows mentioned above. An additional buy signal, as long as the 1D MA50 is holding.
Do you expect that it will hold and pushed BTC to a rebound or a candle close below it can pull the price as low as the 1D MA200 (orange trend-line), which is untested since March 10?
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Bitcoin (BTCUSD) hit today the 1D MA50 (blue trend-line) for the first time since the June 20 bullish break-out. This is the first level of Support and potential buy entry for medium-term traders. Our condition is that the 1D candle has to close above the 1D MA50 as on the April 24 and February 13 similar bottoms. Those delivered a +11.44% and +18.18% rise respectively. As a result, if the candles keep closing above the 1D MA50 we can see an immediate upside on BTC ranging from 32200 to 34200.
Notice also that the 1D RSI hit the bottom of the Symmetrical Support Zone, formed by the lows mentioned above. An additional buy signal, as long as the 1D MA50 is holding.
Do you expect that it will hold and pushed BTC to a rebound or a candle close below it can pull the price as low as the 1D MA200 (orange trend-line), which is untested since March 10?
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XAUUSD at the bottom of its 3 week Channel Up.
Gold (XAUUSD) broke below the 4H MA50 (blue trend-line) and hit today the bottom of the 3 week Channel Up pattern that has been in effect for the whole month of July. This is a short-term buy signal as the 4H RSI is also on the same level it was on the July 06 Higher Low.
The lowest risk entry will be after the RSI breaks above its MA trend-line (yellow), as this has been a confirmed buy signal in at least the past 2 months. When it does, we will take a short-term buy and target 2015 (below Resistance 2 but Higher High for the Channel Up).
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Gold (XAUUSD) broke below the 4H MA50 (blue trend-line) and hit today the bottom of the 3 week Channel Up pattern that has been in effect for the whole month of July. This is a short-term buy signal as the 4H RSI is also on the same level it was on the July 06 Higher Low.
The lowest risk entry will be after the RSI breaks above its MA trend-line (yellow), as this has been a confirmed buy signal in at least the past 2 months. When it does, we will take a short-term buy and target 2015 (below Resistance 2 but Higher High for the Channel Up).
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CADJPY Bullish within the Channel Up, bearish below it.
CADJPY is trading within a Channel Up since the March 24 bottom. The price action maintained this bullish formation as not only did it recently made a Higher Low but from July 12 to July 18 all 1D candles successfully closed above the 1D MA50 (blue trend-line), something common since April 27. As long as this is taking place, we will stay bullish, targeting 109.250. That is a Lower Highs level, similar to the one on in April, whose fractal resembles today's.
On the other hand, if we close a 1D candle below the 1D MA50, we will sell and target 102.000, just above the 1D MA200 (orange trend-line).
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CADJPY is trading within a Channel Up since the March 24 bottom. The price action maintained this bullish formation as not only did it recently made a Higher Low but from July 12 to July 18 all 1D candles successfully closed above the 1D MA50 (blue trend-line), something common since April 27. As long as this is taking place, we will stay bullish, targeting 109.250. That is a Lower Highs level, similar to the one on in April, whose fractal resembles today's.
On the other hand, if we close a 1D candle below the 1D MA50, we will sell and target 102.000, just above the 1D MA200 (orange trend-line).
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GOOGLE How is it looking before the earnings?
It has been very long since we last looked into Google (GOOG) but last time we did (November 07 2022) we gave a massive buy signal (see chart below) at the market's absolute bottom:
https://www.tradingview.com/chart/GOOG/ZEpSE5QR-GOOGLE-A-very-bullish-2023-and-this-chart-shows-why/
The stock price rose +49% since then, giving us one of the most successful low risk trades of the year. With the company reporting its Earnings today though, we shift back to the 1D time-frame where the stock has been trading within a clear Channel Up throughout this recovery phase. Based on the 1D MACD Bearish into Bullish Cross sequence, we may be at a Higher Low leg as on March 13.
As long as the price is trading within the Channel Up and the (dotted) Channel Down, we remain bullish, aiming at a +21% rise (standard inside the Channel Up) and a price target of $140.00. If the price breaks below the Channels' bottoms, we will sell, targeting the 1D MA200 (orange trend-line) at $106.50.
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It has been very long since we last looked into Google (GOOG) but last time we did (November 07 2022) we gave a massive buy signal (see chart below) at the market's absolute bottom:
https://www.tradingview.com/chart/GOOG/ZEpSE5QR-GOOGLE-A-very-bullish-2023-and-this-chart-shows-why/
The stock price rose +49% since then, giving us one of the most successful low risk trades of the year. With the company reporting its Earnings today though, we shift back to the 1D time-frame where the stock has been trading within a clear Channel Up throughout this recovery phase. Based on the 1D MACD Bearish into Bullish Cross sequence, we may be at a Higher Low leg as on March 13.
As long as the price is trading within the Channel Up and the (dotted) Channel Down, we remain bullish, aiming at a +21% rise (standard inside the Channel Up) and a price target of $140.00. If the price breaks below the Channels' bottoms, we will sell, targeting the 1D MA200 (orange trend-line) at $106.50.
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MICROSOFT Huge MACD Bearish Cross ahead of earnings. Still buy?
Microsoft (MSFT) has been trading within a Channel Up pattern since the March 13 Low, with the 1D MA50 (blue trend-line) supporting all the way, having made no contact with the price at all. You can see that on the chart on the right (1D time-frame).
On the bigger picture, the 1W time-frame (chart on the left), the stock closed last week's 1W candle on a very discouraging Bearish Pin Bar, which is a candle formed on technical trend reversals from bullish to bearish. In addition the 1W RSI remains overbought above 70.00, despite dropping from the even higher levels of May 30.
Perhaps the strongest alarming indicator at the moment showing that the market may have hit a temporary top is the emerging Bearish Cross on the 1W MACD. Since 2020, we have seen that formation another 7 times, with 6 of them delivering a Lower Low. As a result when the 1W MACD Bearish Cross is completed, it will be more probable to see a correction, not necessarily an earth shuttering one.
But back to the 1D time-frame (chart on the right) if that happens, we will wait for a candle close below the 1D MA50 and sell, targeting the 1D MA200 (orange trend-line) on a projected contact at $300. Until this happens though, the Channel Up is on full effect and we are targeting the Internal Higher Highs trend-line at $380.
In the meantime, observe the 1D RSI, which is trading inside a Rectangle for the past 6 months and has offered accurate buy signals at its bottom and sell signals at its top.
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Microsoft (MSFT) has been trading within a Channel Up pattern since the March 13 Low, with the 1D MA50 (blue trend-line) supporting all the way, having made no contact with the price at all. You can see that on the chart on the right (1D time-frame).
On the bigger picture, the 1W time-frame (chart on the left), the stock closed last week's 1W candle on a very discouraging Bearish Pin Bar, which is a candle formed on technical trend reversals from bullish to bearish. In addition the 1W RSI remains overbought above 70.00, despite dropping from the even higher levels of May 30.
Perhaps the strongest alarming indicator at the moment showing that the market may have hit a temporary top is the emerging Bearish Cross on the 1W MACD. Since 2020, we have seen that formation another 7 times, with 6 of them delivering a Lower Low. As a result when the 1W MACD Bearish Cross is completed, it will be more probable to see a correction, not necessarily an earth shuttering one.
But back to the 1D time-frame (chart on the right) if that happens, we will wait for a candle close below the 1D MA50 and sell, targeting the 1D MA200 (orange trend-line) on a projected contact at $300. Until this happens though, the Channel Up is on full effect and we are targeting the Internal Higher Highs trend-line at $380.
In the meantime, observe the 1D RSI, which is trading inside a Rectangle for the past 6 months and has offered accurate buy signals at its bottom and sell signals at its top.
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LYXEUSD Not a buy yet despite today's rise.
The LUKSO Token (LYXEUSD) is having the strongest 1D bullish candle since June 18. However this is not a confirmed buy signal yet, as even though the price hit the bottom (and Higher Lows trend-line) of the 1 year Channel Up pattern, it remains below the 1D MA50 (blue trend-line) since May 20 (more than 2 months) with two clear rejections on it.
We will buy only when the price closes a 1D candle above the 1D MA50 and target 14.5000, which represents a +69.78% rise, the minimum bullish wave within this 1 year Channel Up.
Until then we will sell as close to the 1D MA50 as possible (so that the risk of a bullish break-out above it is at a minimum) and target the Higher Lows trend-line at 6.0000.
We have to mention that the 1D RSI has been on Higher Lows while the price is on Lower Lows (i.e. a Bullish Divergence) similar to the April 01 bottom, thus favoring a bullish break-out.
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The LUKSO Token (LYXEUSD) is having the strongest 1D bullish candle since June 18. However this is not a confirmed buy signal yet, as even though the price hit the bottom (and Higher Lows trend-line) of the 1 year Channel Up pattern, it remains below the 1D MA50 (blue trend-line) since May 20 (more than 2 months) with two clear rejections on it.
We will buy only when the price closes a 1D candle above the 1D MA50 and target 14.5000, which represents a +69.78% rise, the minimum bullish wave within this 1 year Channel Up.
Until then we will sell as close to the 1D MA50 as possible (so that the risk of a bullish break-out above it is at a minimum) and target the Higher Lows trend-line at 6.0000.
We have to mention that the 1D RSI has been on Higher Lows while the price is on Lower Lows (i.e. a Bullish Divergence) similar to the April 01 bottom, thus favoring a bullish break-out.
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BITCOIN will rally to $150k! Ground-breaking Fibonacci analysis!
This chart on the 1W time-frame is a complete mapping of the rest of Bitcoin's (BTCUSD) Cycle! The basis of it is a Fibonacci Channel Up (May 2017 to October 2025) whose price symmetry is identical with the one that run from June 2013 to November 2021.
As you can see the similarities within the two are more than obvious, even on a 1W RSI basis. The current Channel Up has already started its second Cycle and through a certain set of technical formations and events we project its pathing and cyclical Top.
** The Fibonacci Channels similarities **
Let's start by comparing the common characteristics between the two Channels. Both start with a 1st Rally (green arc) that makes a 1st High on Fibonacci 1.0. The Bear Cycle starts and bottoms when the 1W MA50 (blue trend-line) makes a Bearish Cross under the 1W MA100 (green trend-line) and the 1W RSI hits the 30.00 oversold zone (green circle). Then the first mini rally of the new Bull Cycle starts but loses steam as the 1W RSI breaks above the 70.00 overbought zone (blue circle). The price eases and after a 1W MA50/100 Bullish Cross, the Halving event comes to kick-start the 2nd Rally. That rally peaks a little under Fib 1.0. Same picture after that as the new Bear Cycle bottoms on an oversold 1W RSI and a 1W MA50/100 Bearish Cross. On the previous Channel Up, the 3rd Rally also started after the Halving event (3rd) and topped within the 0.618 and 0.5 Fibonacci range.
** Where are we now? **
This brings us back to today and the new Channel Up. As mentioned it has started the new Bull Cycle and is on the mini rally, with the 1W RSI getting rejected exactly on the 70.00 overbought Resistance.
See the rest of the analysis on our TradingView profile:
https://www.tradingview.com/chart/BTCUSD/pDLy0vLd-BITCOIN-will-rally-to-150k-Ground-breaking-Fibonacci-analysis/
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This chart on the 1W time-frame is a complete mapping of the rest of Bitcoin's (BTCUSD) Cycle! The basis of it is a Fibonacci Channel Up (May 2017 to October 2025) whose price symmetry is identical with the one that run from June 2013 to November 2021.
As you can see the similarities within the two are more than obvious, even on a 1W RSI basis. The current Channel Up has already started its second Cycle and through a certain set of technical formations and events we project its pathing and cyclical Top.
** The Fibonacci Channels similarities **
Let's start by comparing the common characteristics between the two Channels. Both start with a 1st Rally (green arc) that makes a 1st High on Fibonacci 1.0. The Bear Cycle starts and bottoms when the 1W MA50 (blue trend-line) makes a Bearish Cross under the 1W MA100 (green trend-line) and the 1W RSI hits the 30.00 oversold zone (green circle). Then the first mini rally of the new Bull Cycle starts but loses steam as the 1W RSI breaks above the 70.00 overbought zone (blue circle). The price eases and after a 1W MA50/100 Bullish Cross, the Halving event comes to kick-start the 2nd Rally. That rally peaks a little under Fib 1.0. Same picture after that as the new Bear Cycle bottoms on an oversold 1W RSI and a 1W MA50/100 Bearish Cross. On the previous Channel Up, the 3rd Rally also started after the Halving event (3rd) and topped within the 0.618 and 0.5 Fibonacci range.
** Where are we now? **
This brings us back to today and the new Channel Up. As mentioned it has started the new Bull Cycle and is on the mini rally, with the 1W RSI getting rejected exactly on the 70.00 overbought Resistance.
See the rest of the analysis on our TradingView profile:
https://www.tradingview.com/chart/BTCUSD/pDLy0vLd-BITCOIN-will-rally-to-150k-Ground-breaking-Fibonacci-analysis/
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BRISEUSD strong rise but still within the Channel Down.
Bitgert (BRISEUSD) is having the strongest 2 day rise since February 01, approaching the 1D MA200 (orange trend-line) which is unbroken since April 27. This isn't however yet a reason to buy for the long-term as the price remains within the bearish trend of the long-term Channel Down pattern since the August 31 2022 High.
In order for us to buy, we want to see a 1D candle closing above the 0.382 Fibonacci level (0.00000041), in which case we will target the 0.618 Fibonacci at 0.0000006355. Similarly if a 1D candle closes above Resistance 1 (0.0000007065) then we will buy the break-out and target Resistance 2 at 0.000001285.
Until those break-outs take place and the price remains within the long-term Channel Down, expect a rejection at the top (Lower Highs trend-line) and the trade is a sell, targeting the Higher Lows (dashed) trend-line at 0.0000002875.
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Bitgert (BRISEUSD) is having the strongest 2 day rise since February 01, approaching the 1D MA200 (orange trend-line) which is unbroken since April 27. This isn't however yet a reason to buy for the long-term as the price remains within the bearish trend of the long-term Channel Down pattern since the August 31 2022 High.
In order for us to buy, we want to see a 1D candle closing above the 0.382 Fibonacci level (0.00000041), in which case we will target the 0.618 Fibonacci at 0.0000006355. Similarly if a 1D candle closes above Resistance 1 (0.0000007065) then we will buy the break-out and target Resistance 2 at 0.000001285.
Until those break-outs take place and the price remains within the long-term Channel Down, expect a rejection at the top (Lower Highs trend-line) and the trade is a sell, targeting the Higher Lows (dashed) trend-line at 0.0000002875.
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NZDJPY Support break-outs determine our trades
NZDJPY gave us last time (May 05) a very accurate buy signal that hit the target (see chart below) and even broke the 1 year Resistance Zone:
https://www.tradingview.com/chart/NZDJPY/0JGV2YVA-NZDJPY-Buy-opportunity-with-its-invalidation/
The pattern that emerged is a Bullish Megaphone, whose latest Higher Low leg is supported by the 1D MA50 (blue trend-line), having closed all candles above it. As long as it holds, we remain buyers and target Resistance 1 (89.700). If the price breaks below Support 1 (86.230) we will sell and target the bottom (Higher Lows trend-line) of the Bullish Megaphone at 85.330, near the 1D MA200. A 1D candle close below that, will be a bearish break-out signal for us and we will sell again, targeting Support 2 (83.540).
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NZDJPY gave us last time (May 05) a very accurate buy signal that hit the target (see chart below) and even broke the 1 year Resistance Zone:
https://www.tradingview.com/chart/NZDJPY/0JGV2YVA-NZDJPY-Buy-opportunity-with-its-invalidation/
The pattern that emerged is a Bullish Megaphone, whose latest Higher Low leg is supported by the 1D MA50 (blue trend-line), having closed all candles above it. As long as it holds, we remain buyers and target Resistance 1 (89.700). If the price breaks below Support 1 (86.230) we will sell and target the bottom (Higher Lows trend-line) of the Bullish Megaphone at 85.330, near the 1D MA200. A 1D candle close below that, will be a bearish break-out signal for us and we will sell again, targeting Support 2 (83.540).
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S&P500 This new Channel Up can lead it to the All Time High.
The S&P500 (SPX) index has been rising non-stop and appears not to be influenced by yesterday's Fed Rate Decision. The price reached however the top of Channel Up 1, the pattern that has been driving the price action since the October 13 2022 Bear Cycle bottom. This calls for a technical pull-back similar to the December 01 2022 and February 02 2023 Higher Highs, however that can only be confirmed after the 1D RSI breaks below its Higher Lows trend-line, which is exactly what happened on those fractals.
Until then, and as long as the 1D MA50 (blue trend-line) is supporting (has been unbroken since March 29), the more recent Channel Up 2, can lead the price to the 4820 All Time High (ATH) of January 04 2022. Of course before that Resistance 1 (March 29 2022 High) is present at 4640, so since Channel Up 2 is also on its top (Higher Highs trend-line), we can consider a Megaphone (sideways) consolidation, similar to what took place in April. As long as its hits the 1D MA50 and rebounds, we will be bullish, targeting 4820 on the new bullish leg (green arc).
On the other hand if the index does close a 1D candle below the 1D MA50 and the 1D RSI breaks below its Higher Lows trend-line, we will sell and target the 1D MA200 (orange trend-line) at 4250.
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The S&P500 (SPX) index has been rising non-stop and appears not to be influenced by yesterday's Fed Rate Decision. The price reached however the top of Channel Up 1, the pattern that has been driving the price action since the October 13 2022 Bear Cycle bottom. This calls for a technical pull-back similar to the December 01 2022 and February 02 2023 Higher Highs, however that can only be confirmed after the 1D RSI breaks below its Higher Lows trend-line, which is exactly what happened on those fractals.
Until then, and as long as the 1D MA50 (blue trend-line) is supporting (has been unbroken since March 29), the more recent Channel Up 2, can lead the price to the 4820 All Time High (ATH) of January 04 2022. Of course before that Resistance 1 (March 29 2022 High) is present at 4640, so since Channel Up 2 is also on its top (Higher Highs trend-line), we can consider a Megaphone (sideways) consolidation, similar to what took place in April. As long as its hits the 1D MA50 and rebounds, we will be bullish, targeting 4820 on the new bullish leg (green arc).
On the other hand if the index does close a 1D candle below the 1D MA50 and the 1D RSI breaks below its Higher Lows trend-line, we will sell and target the 1D MA200 (orange trend-line) at 4250.
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SOLANA is staging a hyper rally and few are noticing this!
Solana (SOLUSD) has made an important bullish break-out sequence this month as not only did it break above the ATH Lower Highs trend-line (essentially the Resistance of the Bear Cycle) on the week of July 03, but also broke above the 1W MA50 (blue trend-line) the following week for the first time since April 04 2022.
That was a Double Break-out sequence, which will be capitalized if the 1W MA50 holds this week as a Support upon the first test. So far that seems to be the case. If successful then SOL is staging a new hyper rally that will lead it into the new Bull Cycle. We are buying, expecting the first stop to be the 1W MA100 (green trend-line) at 65.000. This is almost as high as the 0.618 Fibonacci retracement level, a standard intermediate technical Resistance during market recoveries.
We want to illustrate two key factors here. First the 1W RSI has completed an Inverse Head and Shoulders pattern, which is a technical bullish reversal formation seen on market bottoms. Second, there is a Higher Lows trend-line that is holding since May 2020, which has made direct contact (Higher Lows) and supported on December 26 2022 and June 05 2023. This may have gone unnoticed by the majority, but seems to be the driving force behind SOL's Cycles and can be the Support that will lead it higher again.
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Solana (SOLUSD) has made an important bullish break-out sequence this month as not only did it break above the ATH Lower Highs trend-line (essentially the Resistance of the Bear Cycle) on the week of July 03, but also broke above the 1W MA50 (blue trend-line) the following week for the first time since April 04 2022.
That was a Double Break-out sequence, which will be capitalized if the 1W MA50 holds this week as a Support upon the first test. So far that seems to be the case. If successful then SOL is staging a new hyper rally that will lead it into the new Bull Cycle. We are buying, expecting the first stop to be the 1W MA100 (green trend-line) at 65.000. This is almost as high as the 0.618 Fibonacci retracement level, a standard intermediate technical Resistance during market recoveries.
We want to illustrate two key factors here. First the 1W RSI has completed an Inverse Head and Shoulders pattern, which is a technical bullish reversal formation seen on market bottoms. Second, there is a Higher Lows trend-line that is holding since May 2020, which has made direct contact (Higher Lows) and supported on December 26 2022 and June 05 2023. This may have gone unnoticed by the majority, but seems to be the driving force behind SOL's Cycles and can be the Support that will lead it higher again.
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AUDNZD Sell signal on the Symmetrical Resistance
The AUDNZD pair is consolidating on the 1D MA50 (blue trend-line) for 4 straight 1D candles, having formed a 1D Golden Cross last week. Even though that is a technically bullish formation, as long as it doesn't break above the 1.093250 Symmetrical Resistance, a rejection seems more probable. As long as it holds, we will sell and target the Higher Lows trend-line at 1.06200.
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The AUDNZD pair is consolidating on the 1D MA50 (blue trend-line) for 4 straight 1D candles, having formed a 1D Golden Cross last week. Even though that is a technically bullish formation, as long as it doesn't break above the 1.093250 Symmetrical Resistance, a rejection seems more probable. As long as it holds, we will sell and target the Higher Lows trend-line at 1.06200.
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