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S&P 500 Piercing Candle SupportIn my opinion the only support level that matters right now is the low of the bullish piercing candle that was formed on February 24th. Similar to a bullish engulphing candle it signifies a change in trend. The piercing candle is formed on a strong rally day with heavy volume after a sell off. Ideally the piercing candle should penetrate at least 50% of the previous candles body. In this instance we see price rejection at the 4500 level on February 9th which lead to a sell off through February 23rd. On February 24th buyers stepped in on heavy volume and put in the low for the year thus far. Afterwards there was a brief rally followed by a selloff only to see the rally resume. Unfortunately for the bulls the rally lost steam and price rejection was again put in at the 4600 level. It's not uncommon to see the low of the piercing candle tested before the low is confirmed and a sustained rally can take place. If the low of the piercing candle doesn't offer support then the minimum downside target would be in the 3600 range putting the index firmly into bear market territory. Good Luck To All!
SP:SPX
by Breakout_Charts
GBPJPY PROJECTION On the Daily TF price had broken a MAJOR structure area. Result creating a HH then a minor retracement which was a 23.6% on the fib. Price then created a HH then a Really Steep Retrace. Coming to an area of confluence with an area of exhaustion, hitting 38.2% (meaning being an official HL point), As well at a 160.000 QP level. Waiting for price to create an engulfing variation orrrr wait for a break of a strong area of resistance/structure to then look for buys. Now on the H4 TF. we see that price is obviously in a steep countertrend to create that HL, So Ill be waiting to take a sell when price created a LH .
by RoyRoshae
5
$SPY Inflection PointThe low of the February 24th candle is hard support in my opinion. That candle formed a piercing reversal with the previous days candle being penetrated well into its body after the selloff. Heavier then average volume confirmed the bottom and reversal. Unfortunately for the bulls the rally was rejected back at the former swing high in the $450ish range, forming a double top. However, the anchored VWAP of the Feb 24th rally candle held as support. Not all was well though. An evening star pattern formed from April 19th to the 21st. That evening star pattern was confirmed on todays big sell off and the anchored VWAP support was sliced like hot knife through butter. If the support from the Feb 24th candle is broken then there's a considerable downside to around the $360ish range. Thanks for reading. Good Luck To All.
AMEX:SPYShort
by Breakout_Charts
BTC Movement in Daily Timeframe Can Touch 47K !!!This is my first idea in trading view 4/22/2022 after 24Day price reduction I think we should have another pump to 47K before that we able to touch 35K !!! as you can see technically price after losing 43K ,now Price can break out long channel (Blue Channel) that made in 22Jan2022 to 35K easily. we have another big Dynamic resistance (Shown with red color ) in 40K after break 40K price can touch 47K again . 👾News Channel👾 : @purpleEx 👾Music Channel👾 : @Prpltime 👾 VIP Channel 👾 : @PexVIP
by Younesghaderi
2
Bitcoin LONG vs SHORT! THIS COULD BE ITHey there, tin this chart we can see, that when longs and short both decreased a short term uptrend was the result. We can see it in the rectangles in the purple areas. The white line is BTC. The red line are the shorts to visualize it more visually. The verticals show the points when btc longs AND shorts both fall down- this happened 3 times. Stochastic & normal RSI are at an oversold level, this is a bullish indicator as well! Anyway, I hope you enjoy this observation and it feeds your technicals analysis with more data. Have a nice day, Have a nice day, Roman -------------------- Focus on the journey, not the destination. Joy is found not in finishing an activity but in doing it. Hope you enjoyed it as I did reflecting on this one…you can follow me if the content pleased you :-) Feedback would be awesome
BITFINEX:BTCUSDLONGSLong
by GER-Quality-Trades
10
ATR and RSI in price actionI explain in this video how I view the relationship between ATR and RSI in true trend following situations. This is not about trend continuation or harmonics. This is on the India50 - a 2H time frame. But always one has to look higher to understand the risk and rebellions that may be ahead. Trading is not about investing. It is primarily about exploiting parts of trends. So you're in and out of the markets, to catch a slice of some trend. There are bound to be losses. You absolutely cannot make profits without suffering losses. The business of minimising losses and maximising winning positions - in trend following - has no strict formula. It is about experience in the markets. And each market/instrument has its own personality. For tend followers taking some or all profits in a deep RSI trench is a good thing. The ATR can show important trend switches. There are trading platforms that can be programmed to follow the ATR (or any other indicator), in trend following. (House rules do not permit me to mention here). On such platforms one can program a trade to close if price is above or below a certain figure on the RSI. Disclaimer: This is not advice or encouragement to trade securities or any asset class. This is not investment advice. Chart positions shown are not suggestions intended to assure you of an advantage. No predictions and no guarantees are supplied or implied. The author trades mostly trend following set ups which have a low win rate of approximately 40%. Heavy losses can be expected if trading live accounts or investing in any asset class. Any previous advantageous performance shown in other scenarios, is not indicative of future performance. If you make decisions based on opinion expressed here or on my profile and you lose your money, kindly sue yourself.
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by Captain_Walker
ETH shortI believe we will be going to 3300 this next week and then back down to get support at 3050 then back up to 3500 or 3600 and then a bit of a bear market pattern right now, I'm just not trusting the inflation rates with the cost of living going up and war going on. This is a set up for a world wide great depression. Demand for everything is up and supply is way down, Even lithium, Gold, Silver all low supply's, Foods, and manufacturing supply's. with the world support for Ukraine resources are over extended, Prices keep going up. Oil will sky rocket because emergency reserves like in the US 10 year supply is being fed to the market to lower gas prices, but in fact just caused an even grater supply demand as the 10 year supply must be replenished making oil demand bigger than it was if they just left it alone. We will see a slight rise and then markts drop over the summer. We all have to watch ETH2 come out in about September now to see what a No gas fee ETH will do to the market, I bet it starts it's move to outperform BTC 2x more than it is already and by 2026 takes it over becoming #1. Seat belts and antianxiety meds needed LOL. Good Luck to you all and remember Nothing I say or post is advice in any way and never invest or trade more than you can afford to lose.
COINBASE:ETHUSDShort
by bigfootInvestments