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Bullishreversedivergence

SPY - Short term bullish - Quick TradeHello Friends, AMEX:SPY has shed a lot of value in a week but there seems to be some good news if you're looking for a very short term bullish trade. We will have to understand supply/demand levels on multiple time frames. In a daily TF, Price opened gap down, approached a daily/weekly demand zone and closed within top 33.3% of a candle range(Bullish Pin bar candlestick). Bullish pin bar with a good volume suggests the presence of demand. There's a gap to be filled. So our first target is at the upper bound of a gap around 373.44. I like to use anchored VWAP as a dynamic support/resistance and also as an additional confirmation for the target. In a downtrend, I drop anchored VWAP from a recent swing high to find dynamic resistance level which is currently at 386. There's a visible supply zone between 381 and 390. So if price is able to breach our first target then the next safe target would be at 381. Target levels are marked on the chart below. Zooming into 45 minutes TF, it is visible that before price opened gap down, there was a supply zone forming. Our first target is actually a lower bound of a supply zone. Additionally, a bullish RSI divergence is also visible which is an additional confirmation for price reversal. Similar confirmations are found in 15 minutes TF as well. Remember, Overall market is still bearish so you have to be very nimble while trading against the trend. A good trader always find opportunity in any market conditions! Do you agree with my analysis? Please let me know your thoughts by commenting below and follow me for more such ideas. Happy and safe trading! :)
AMEX:SPYLong
by PriceActionTrader1
4
AUTO - Massive channel is breaking out! Huge gains, Elliott Wave First of all, I want you to take a look at the volume indicator. As you can see, we have huge bullish volume! On the daily chart, there is a descending parallel channel that has been destroyed by the bulls recently. Also, there is a local symmetrical triangle that looks like it is also breaking out, so we have a double breakout, which is nice to see! Impulse Elliott Wave has been completed (5-3-5-3-5), and because of that, I expect a bullish retracement. The profit target is at the end of the previous wave 4. I don't have the historical data to put a fibonacci retracement from the previous all-time high, but it was around 13 500 USDT. I think this is a pretty good setup to buy this coin on the spot market. I expect tremendous gains for selected altcoins. You can find them in the related section down below. For more ideas, please hit "Like" and "Follow"!
ALong
by UnknownUnicorn2537518
51
XTZ Potential Channel BounceI have been watching this channel on the logarithmic chart for Tezos for almost a year now, and at least thus far it has consistently bounced near the channel bottom which is currently approaching. It looks further possible that a bounce might occur based on bullish reversal divergence on the daily chart for both MACD and RSI. The bounce will likely be dependent upon BTC, but see my post yesterday for how I think that BTC might also bounce here, supporting the idea of a Tezos bounce: Either way, should be interesting to see if the trend holds up or if a new trend is about to occur. And as always, this is solely my opinion and is not in any way meant as financial advice. But please like or comment if you agree or have any further opinions!
COINBASE:XTZUSDLong
by crypto_trends