The week has started from a bullish retracement. From a technical perspective we see a back test of the channel mid and eventually a back test of the broken multi-day balance. The sentiment remains bearish. A retest of the previous session high would be a warning sign for the shorts. My expectation is to see a holding pattern ahead of the inflation data. Being...
Trader Sentiment is of the utmost importance as it pertains to price action. The attached is one that will be updated from time to time as my followers can see how the various bullish and bearish sentiment plays into the price action.
Upside 15897 → 15980 → 16063 → 16142 Downside 15709 → 15583 → 15484 → 15484 NQ is in a bullish channel on the daily, and retraced about 60% of its last move when it made last week's low. A breakout to the upside can fill the daily FVGs above: Current FVG filled at 15991.25 Next FVG filled at 16142 Measured Move sends us to 16483.25. All Time High 16767
15800 was a key resistance and we got a almost 400points sell off from there. TBH, the daily candle is bearish but did not clear previous low; thus it might not be so bearish? But plan for today would be to look for a possible rejection off 15625 for a move lower, possibly to 15333. But as mentioned, the BOJ meeting later would likely be the main driver for the...
In reading the title of this post, I'm sure you can tell what I want to say. Since the new habit is to guffaw and lmao at any thesis that isn't bullish, because "we" all "know" US equities "always go up" and a new all time high is "in store," I'd like to point out the Nasdaq already shows signs of having topped. That July 20, 2023 candle was some 2%+ in range...
SKILLING:NASDAQ is starting to look nice with some levels to watch in the coming weeks. Tech has had a big run off lows this year after getting beaten down last year. Bullish Scenario sees an ABCD down to the 12k area then the next leg up. There are still unfinished patterns down below 10k to complete but it can go higher first. On a shorter TF look for an...
AI seems to be all the hype these days. Unity announced a closed Beta Program for their AI back in late February of 2023, and just a few weeks ago we got our first look at some of the things we can expect. Unity has almost doubled in price from its ATL's, but I don't think it's done yet. We've got a nice Cup & Handle Pattern forming on the Daily that's beginning...
A pullback to retest the breakout of the multi-day consolidation is coming. This is an important area to watch. A potential outcome is to resume the upside move or retest the bottom of the consolidation and start to form the right shoulder of H&S. I anticipate to see a reaction first. A strong move down side would suggest the H&S scenario. The sentiment remains...
This is me just practicing with an idea that is to be published. Though this is where I think my entry will be tomorrow, it's not advice. Again, this is me just practicing with the tools available to me on TV.
Channel - There’s a clear uptrend channel. Symmetrical projection: An uptrend N pattern - By projecting a 100% symmetry projection of the initial swing from point A to B, and extending it from point C. - As the expected symmetric pullback to E did not occur, I anticipate a further 100% extension from D to F ($16,733). The target price level aligns with the...
We are in a range where it seems as a creation of a SwingH, also in the left there is s previous take of liquidity which could be a StopH, so this week probably we could see a bearish move that creates -1- a retracement into the fvg to continue its move towards the upside, or -2- a break in MS that creates a -BB This second scenario is what im expecting, so let's...
Last session has retested monthly R1 confluence with the upper edge of the channel. Initial reaction, profit taking. This is all normal and supported by technical analysis. In my view, this is an objective way to look at the market action and remain on the right side of the chart. As the title suggests, the market needs a reason to sell which is a reverse of the...
- Trades taken using confirmation entires to reduce risk and increase probability for sucess. - Using an initial 1:1 target is recommended for reducing risk. - Individual trade management styles determine how long trades remain open *** For educational purposes only ***
I'll keep this brief. The area on the chart where purple 5 resides best counts as a 3-wave structure. Therefore, in my primary analysis, I am counting this as an irregular b wave that made a slightly higher high and now we should be heading into the 4370 area for our black c wave of 4. I have a purple alternative 5 on the chart because there is a chance of wave...
Quick market update focusing on Bitcoin and covering BTC CME Futures, ETH, SP, NQ, and DXY. Effectively Bitcoin is still holding the $30k support and trend does remain to the upside, with major news events starting Wednesday with inflation data, we are expecting an increase in volume/volatility. Overall we did breakdown from the range high but until the $30k...
Link to chart: www.tradingview.com After a low volume start of the week, we are running into news from 7/5-7/7. I am expecting to see some volatility due to the news releases we have this week and the start of July. We are currently sitting between zones on every timeframe, but most importantly, we did break out of the 4HR downtrend from June 16th. We are sitting...
Do read the trade plan I put for NDX. But basically, would like to look for a failed rally to short for a move lower. Do also check out my plan for SPX on the possible timeline it will happen.
CME_MINI:ES1! Zoom out before you zoom in. You may find something you ca trade with. Your friend, the Trend. Trade well, trade safe