Neutral
SPY zoom outI am neutral on SPY until I see price action but leaning towards short.. filling out the channel.
This can go two directions right here as we see quite a but of support and resistance along each trendline. Anyone who tells you otherwise is lying to you..
Tests of upper trend line show high level of resistance in overall downtrending market however we see support along lower trendline. Last candle on the daily I set alerts for breaks above and breaks below and then look for an entry. I will likely stay out of the market this week looks like a choppy one..
Good luck have fun trade safe cheers!
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Market Bias & Top Stock Watches - 12/01/2022Bias: Choppy (leaning bearish)
Top Watches: Long - OKTA, TSLA, KR, NTNX. Short - CRM, FREY, DG, BIG.
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Solana at critical decision pointHi Tradingview,
BINANCE:SOLUSDT
I want to talk about SOLANA (SOLUSDT). Solana has been in the news recently mainly for bad but it has shown some strength in recent days with
it breaking out of the wedge pattern it has been trading in for the past couple of weeks. However, I feel that will soon be coming to an end.
It is trading in an upside-down cup and handle pattern, this is bearish. We can also see on our TSI indicator that a bearish crossing might be coming soon
with the bears currently in control (below 0) This is highly probable. It could find support though, it has broken out of the wedge and is
currently retesting.
Trading SOL
Now that we have looked at the facts, lets try to make some money off of this.
I will be discussing a long possibility and a short possibility. Both require confirmation
Long:
Entry, confirmation of retest support, double bottom (#2)
Short:
Breakdown of 13.25, and wedge support
(GBPUSD) Wed, 23 November 2022 SetupOANDA:GBPUSD
GBPUSD Neutral bias
Status: Open short position and waiting for breakeven confirmation
What do I see?
- VIX could go bullish as it's on its major Daily low, resulting in USDCHF going bullish.
- Low volatility as the market waits for Durable Goods Orders MoM, New Home Sales, and FOMC Minutes report.
- Could result in a sideways market in the long run, as people couldn't conclude the direction of the market. Technically speaking both the bulls and the bears are equally strong right now, so let's see how the reports would go.
What I would do?
- If the reports got a bullish response, I'll go for breakeven and reconsider going bullish. vice versa.
Happy Trading! Good luck!