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$SPY breakout or fakeout?Here is my weekly $SPY analysis for the week of 1/9/22. $SPY Friday broke out of this weekly trendline it has rejected since Jan 2022. However the breakout is right into a huge supply zone . We also do have some market data coming out this week so this should be good folks. Here the supply zone I wanna trade is clear, the huge weekly supply zone that everyone is eyeing. 389.43, 392.71. LONG: I presume if we can build a base around the 393 area it can be a nice setup for a rally base rally even higher. SHORT: 389.43 area is the level i'm watching for shorts. Really interested to see how we're going to react this week with the news before any swings. Just scalps for now. The area where we stalled last week can also prove to be a nice zone of interest if we sell back into it this week ZONE OF INTEREST/ STALL AREA: 383.36, 382.35 ❓ What do you guys think? Breakout or fakeout?
AMEX:SPY
by LegitElijaah
GALAUSD Weekly S/R| Price Action| POC| Impulse Evening Traders, Today’s analysis – GALAUSD- trading at a key resistance zone where a rejection is probable, Points to consider, - Price action impulsive - POC S/R Resistance - Climatic Node - Daily S/R Support GALAUSD’s immediate price action is testing a resistance zone that is in confluence with the POC and a Weekly S/R, allowing for a bearish bias. The current volume node is climatic; this is evident of temporary top if bull volume does not persist. The immediate objective is the lower order block support, price has technical merit to retest the region. Price action is to be used upon discretion/ management when executing this trade, invalidation is multiple candle closes above the POC. Hope this analysis helps, Thank you for following my work And remember, “It is always the best discretion to let the market show us where it is going and just simply follow (this would be prudent), rather than predict where the market is going and place a position (this would be gambling).” -Anne-Marie Baiynd’
Short
by The_Alchemist_Trader_
4
I could be wrong but..Just an idea, I definitely could be wrong. everybody is talking about a 2023 recession but the sp 500 has closed 3 weeks in a row near the high of the week. Sure its in a range but 3 bullish hammer candles in a row on the weekly chart? there must be some sort of institutional buying at the 3800 level because every time we go there I see a bounce back up. I feel that a possibility that would be the against the crowd is a strong move up on equities. I feel that a move lower is kind of expected, its the consensus and as we know the market moves against the crowd most of the time. I do believe we are heading lower at some point this year but keep you guard up for a strong move up to flush out the shorts followed by a move down when its least expected. from a trading perspective I will only be bullish above 4100. i feel the likely scenario is a pop to 4050 followed by a strong move down let me know your thoughts in the comments below I do respond to all comments. have a fantastic weekend :)
PEPPERSTONE:US500
by Kyle_Campbell
APT|USDT DAILYS/R | TRADING CHANNEL| PRICE ACTION| TREND Evening Traders Todays analysis, APTUSDT, rejection from a clear resistance and channel high where a rotation lower is now possible, points to consider - price action impulsive - Daily S/R Resistance - Channel Low Support - Technical Higher Low APTUSDT has confirmed a rejection from its Daily S/R Resistance and is now trading towards its channel low support that is in confluence with the .618 fiboancci, allowing for a bullish bias. The immediate objective is the Daily S/R, exceeding this level will lead to a trend change and continuation. price action is to be used upon discretion/ management when taking this trade, invalidation is multiple candle closes below the channel low support. hope this analysis helps, thank you for following my work “The expectation that you bring with you in trading is often the greatest obstacle you will encounter.” ― Yvan Byeajee,
Long
by The_Alchemist_Trader_
1
GBPUSD VAH| .618 Fibonacci| Daily S/R Levels| Trend Evening Traders, Today’s analysis – GBPUSD- trading around range higher where a rejection towards the lows is probable, Points to consider, - Price action corrective - Range High Resistance - .618 Fiboancci Confluence - Daily S/R Objective GBPUSD’s immediate Price Action is approaching an area of resistance that is in confluence with the .618 Fibonacci and a Single Print Fill. Backtesting and rejection the level will confirm a Bearish Retest, this will increase the probability of Price Action rotating towards the lower Daily Support. Invalidation of this idea is multiple candle closes above the Range High resistance, Price Action is to be used upon discretion/ management. Hope this analysis helps! And remember, “It’s not whether you’re right or wrong that’s important, but how much money you make when you’re right and how much you lose when you‘re wrong.” -George Soros
Short
by The_Alchemist_Trader_
1
ETHEREUMSubscribe and get a free trading strategy for Bitcoin and other instruments every day! Happy New Year and Merry Christmas my dear friends!🤑 Take a look at the chart, please! I show you two scenarios of the price behavior. Every zone supports or resists ETH. Now it's above the dashed line so a long scenario is more possible! But if it will be broken we should use a short scenario. P.S I do not adhere to a time frame in my analysis of the instrument, a reaction in the instrument may occur earlier or later. It is important to understand the price movement when reacting to the level, as well as the buyer and seller reactions. Well, and a few more secrets, this material is not a trading recommendation )))
by Anton_t_t_t_eng
3
FTM Daily S/R| PSFP| VAL| Falling WedgeEvening Traders, Today's analysis, FTMUSDT, trading towards an area of support that has significant confluence - Daily S/R Support - PSFP Region - VAL of local Range - Bullish Falling Wedge FTMUSDT's immidiate price action is corrective, it is trading towards an area of HTF support and liquidity. Changing market strucuture at such region of support will place great emphasis on the current Falling Wedge pattern Price action is to be used upon discretion/management of the trade
FLong
by The_Alchemist_Trader_
DYDX/USDT futures setupDYDX-USDT futures Hi guys. Well, I have to go to the point very quickly because there is very little time Another one that caught me attention was DYDX here. Well According to the analysis, by breaking the support line (1.629) and observing the stabilization candle, you can open a short position. If the break is done: first tp is 1.596 and the next tp is 1.585 and the next one is 1.572. ELSE take a long position : first TP : 1.698 and after saving the profit second TP : 1.729 Good LUCK Disclaimer: I'm not financial advisors. The content that share on this page are for educational purposes.
by Hr_odin