Possible SPY Move Here (Bullish Scenario)Hey Guys, things seem to be looking up a lot for the SPY, here seems to be one of the many scenarios here that could play out.
The SPY seemed to have a fantastic run up here with a slight retractment (B-C) and a possible measured move up to D. Only problem is, that if D is reached, the SPY will have to be completely gassed, meaning it's best to wait for a retractment.
We seem to have a band of VWAP here that could act as possible support coming up soon, the area circled is an area of marked interest. The 50% retractment seems to match up fantastically with the VWAPS, as well as the former resistance line from the early January Drop. If the SPY retracts to there, we could see a fantastic buying opportunity with an even better stop loss position, and this would be one of my preferred scenarios.
With that being said though, the most important thing to remember is that preference is just that, a preference! It's not a guarantee and no matter how hard I want or believe, it in no way means this outcome will happen, just one of many high probability outcomes. Always antacipate before you particpate! The market can move in any direction it pleases, just try to listen to it!
In other news, let's take a lot at the shorter 30 Minute Chart:
As you can see, the really thick purple line is the 5-Day MA, and it's sloping up beautifully, ichimoku is looking great.
Longer time-frame:
200 is still rising, we're finally above the 50 Day MA, and 20 DMA is about to finally cross 50 DMA, so things are looking good (for now).
Probably the most important thing I'm about to say this entire post: Do not, and I mean Do not in any way, shape, or form, CHASE!!!
We're getting so overbought right now and the SPY, even though it's not showing it right this second, is getting weak! Chasing prices makes your stop losses ridiculously large, so just wait for a retractment here and let's see if we can get in at a better price!
That's all guys, any questions, leave them down in the comments below. I know I haven't posted in a while, just been busy. Let me know what you think.
Multi-timeframe
GBP/CAD Butterfly and Bat, AB=CDThere is also Triangle but I dont think that is gonna work.
Butterfly also has AB=CD. Some people say Gartleys C leg needs to reach atleast .618 some people say it is okay to reach .382, so if you listen .382 supporters there is also Gartley Pattern where we pinned Butterflys D leg. Last words the say RSI is probably going to Over-Sold when price reachs the D leg.
Butterfly has 1.8 RR
Bat has 2.24 RR
Breaking Down EURAUD With The Technical Scoring SystemWe have a massive Bat pattern that has just completed on EURAUD. The problem is that it's completed on the Daily Time Frame. So in this video, we cover how you can use multiple time frames to reduce your risk and still take advantage of the potential move.
EUR/USD 2 Gartley, AB=CD, Crab ideaSo let's get started.
We see 2 Gartley Pattern and both Gartley has AB=CD, ALSO blue Gartleys D leg has Crab Pattern D leg too.
And on 1hr chart we see Flags and Triangle broke, but don't mind them because they had go where they needs to go.
I dont see any risk except Support break on Gartley 2. I think Gartley 2 has %70 chance to win.
Let's see what she will do huh?!
Ethereum struggling to go up with confidenceHello everyone. What i showed in this chart is a clear support and resistance zones from previous pushes and pulls, as well as a big fib retracement showing that we have a MAJOR support line between 765 and 780$. Also, we have somewhat a strange situation upwards, since even though major resistance is high up, between 970 and 1000$, judging by previous resistance and fib retracements, we dont have much buying power to go to the upside, which is shown on the volume chart. Also, we are heading upwards straight into 4h 100 moving average. On top of that, we are not overbought or oversold yet on the RSI side, but it still shows uncertainty towards the upside. I'd say this is a no trade zone for me, since the upside isn't big enough for me to enter such a risky trade. Time will tell where ethereum goes, but so far, it's a stalemate.
Steel is looking AMAZING right now!!!!!Hey Guys,
Gonna make this very quick.
Steel is looking ridiculous right now. It broke out of its logarithmic resistance (extremely hard thing to do, took around 8 years), is at a daily resistance right now of around 51.60, and has fantastic potential to jump up to 57.00-58.00 MINIMUM, 76.00 being Aggressive. That doesn't even include the new tariff Trump put in place!
I don't prefer to invest in ETF's, so I've found some very specific steel or steel-related value stocks who have grown with the same correlation as the ETF but at a faster Rate of Change. I posted about one recently, VALE, so feel free to check that one out. There are still a couple of gems I've found that I haven't posted about, so see if you can go find them on your own!!
Always try to diversify portfolio's anyway but not in some random, bullshit way. Try to find sectors or stocks with high growth potential and diversify among a couple of them! Steel is a great diversification from Technology so if you have a Nasdaq heavy portfolio, feel free to add some steel to it!
I wouldn't invest yet though, if we break 52 with good volume though, 57 should be achievable in no time and the 5-Day MA should begin to slope upward.
Remember though, do not, and I mean ever, for anybody, follow their advice blindly. I'm not licensed in any way shape or form, just interested to share my ideas with y'all and start a discussion, so make sure to do your own DD!
Any questions, leave them down below!
Bullish Move Upward by BTC!This is definitely going to be one of my shorter post, but I do want to mention that BTC is looking really good right now.
Positive sloping 5-Day Moving Average, extremely bullish ichimoku, and most importantly, BTC has finally crossed it's yearly VWAP!!!
Daily time frame is looking decent as well, we should go to 12k before seeing some resistance and falling back down to the 50 MA, and although uptrend not confirmed, I wouldn't bet against BTC right now.
Just my 2 cents.
AUDCAD Bullish PotentialBullish Gartley formation to the bottom of weekly ascending channel and RSI close to oversold conditions. ABC potential completion with divergence on the daily timeframe.
1) Never risk more than 2% of your account.
2) Try to be motionless by applying your strategy to the pip.
3) Invest to yourself and then your capital. Try to educate yourself along with the signals and enhance your risk intelligence and your perception on how Markets work.
4) You do not have to be extremely precise to be highly profitable as long as you take the set-ups with big R/R.