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SPY Channel Analysis with Levels (Week in Review Part II)WED Analysis - the LOOK & FAIL followed by the BREAKOUT WED was a huge day, with the looming FOMC Minutes Release at the 1400 hour mark. We have broken the week down to provide insight into HOW & WHY we trade $SPY - both our ENTRIES & EXITS. WED- RANGE Morning between the WHITE LEVELS (SUPPLY & DEMAND ZONES) Textbook LOOK & FAIL from 10:15-11:15 and the ONLY REASON we did not initiate a LONG POSITION (different from a Long Trade) was the Downward sloping Trendline that we drew weeks ago. This Trendline never gave us a Breakout Signal w/ a close over it and the upper WHITE Line-SUPPLY ZONE was too strong of Resistance when coupled with the Trendline. SPY Returns back to our Intraday OVER/UNDER Line (not depicted on the chart). and flirts back with the RED SELL TRIGGER. There was no close under the RED TRIGGER, so our Thesis was still Long Trades (and possibly LONG POSITIONS) if we broke back up through the WHITE SUPPLY ZONE. Following the FOMC Minutes release at 1400, $SPY finally broke above the TRENDLINE & SUPPLY ZONE by 1420 hours (2:20pm) and we adjusted and closed some longer dated Put Debit Spreads (PDS). WED PM Session gave us an upside Target and we achieved a decent return longing some calls up into the ORANGE TGT1 Level for an INTRADAY / 0dte trade. $SPY/$SPX/$ES_F all closed above their prospective WHITE SUPPLY Zones, so we held some long ES Contracts overnight. PSA- TV would not allow us to publish a 5min Intraday Chart outlining the specific levels & times, so we used a zoomed in 15min Chart... PART III is next, covering Thurs & Friday
AMEX:SPY
by VeteranWS
SPY Channel Analysis with Levels (Week in Review)Last week, we provided a SPY Channel/Trend Analysis for the upcoming week. This weekend, we will break the week down into 2 segments: 1) the move to challenge the upper channel & 2) the $SPY channel/trendline break. In doing this, we will keep the 2 basic Channels/Trendlines on the chart, and overlay them with our Intraday Levels from our algo. This provides a greater perspective into how our preparedness meets the market throughout the week and why our confidence and expectancy in trading are so high. First, we have color-coded our INTRADAY LEVELS for speed in determining direction and postioning. This is our "Legend" if you will: GREEN/RED Lines are BUY/SELL Triggers WHITE Lines are SUPPLY/DEMAND (These are KEY R1/S1 levels with more significance than I will go into here) GRAY Lines are Support/Resistance (R2-R5/S2-S5) ORANGE Lines are BUY Targets (R1 goes to T1 / R2 to T2 / R3 to T3, etc...) PURPLE Lines are SELL Targets (S1 goes to T1 / S2 to T2 / S3 to T3, etc...) SPY INTRADAY- MON & TUES in Review MON- GAP Open and retreated back to the GREEN BUY TRIGGER, then hit WHITE SUPPLY (R1) & ORANGE LINE (TGT1) upside; $SPY was unable to push much over Gray Line (R2), but remained POSITIVE for the day TUES- GAP Down, SPY hit S4/T4 on Tues at 1045am, and put in a bottom...rallied all the way back up to WHITE DEMAND (S1) level and finish POSITIVE for the day
AMEX:SPY
by VeteranWS
A Silent Walkthrough With Breakouts & Buy Setups I have a total of about 25 tickers that I'm watching. Some have already broken out & there are a few that I'll watch closely heading into June. In this 4:28 video, I go through 12 tickers that have potential upside strength, if the market continues to bounce. These setups are all mostly double bottom plays within a range after a climatic stage 4 sell-off. Some of these can be played by using the 200MA as a guide, which I also pinpoint in the video. I use a strategy which I coined: "Hunt The Traps" I identify areas where Bears have their Stop losses sitting along with where Bulls where trapped to the wrong side of the trade. It's a very simple strategy that I also teach. The 12 tickers I went through were: #NIO #AXP #BR #PNC #V #UNH #COST #KR #LOW #NKE #TGT #AAPL Check em out within your own charts & see do you come up with the same analysis that I have. Catch yall later, Peeeeeeaaaaaccccceee!!!!!!!
NASDAQ:AAPLLong
by DayTraderEarl
4
NASDAQ, Neutral, Pivot Point bands. StrategyHello Goodnight. Tomorrow it seems that we will dawn at a neutral point... prices in between the daily pivot point (PP) level (11804) and weekly PP (11969), the trend could be upward if prices do not go below 11804, which could reach 11119 to 12407 or more, but if they go down of 11804, we could reach between 11516, 11200 and 10869. Tomorrow we should review the progress. Pls don't forget we might have an Impulse of Friday's drop, which doesn't mean that the trend has already changed, we should expect to see progress tomorrow. We are still in a downtrend.
SKILLING:US100
by Bekapc
TESLA, Neutral, Pivot Point bands. StrategyHello traders. It seems that we will dawn at a neutral point... prices in between the daily pivot point (PP) level (672) and weekly PP (688), the trend could be upward if prices do not go below 672, which could reach 712 to 754, but if they go down of 672, we could reach between 648, 624 and 608. Tomorrow we should review the progress. Pls don't forget we might have an Impulse of Friday's drop, which doesn't mean that the trend has already changed, we should expect to see progress tomorrow. We are still in a downtrend.
NASDAQ:TSLA
by Bekapc
Bitcoin: Close LongsI closed my position last night as I was observing a bearish divergence. What I didn't see before is that 1Y and 6M Pivots P was hit and price is struggling beneath this point. Repeat, the 1 Year and 6 Months Pivots center line was hit and we're getting bearish divergence with reversal candlesticks. The 16D chart is the key to Bitcoin right now and the market is in long mode, NOT SHORT MODE. The first chart below is where and why I exited last night and the charts following are higher time frames showing the potential change in market dynamics.
INDEX:BTCUSDShort
by zerocashcool
3
BTCUSD, Big Picture AnalysisHey traders, BTCUSD has broken an important resistance at 31081, signaling the downtrend is almost over "but", tomorrow we might be in the middle of the downward for some days or maybe just 1 day. (Target Between S1-S2-S3) The reason: The last upward had broken the resistance at 31081 and tomorrow it might start the retracement, until 26,639, fib 78%. and then the prices will go higher between bands. Important if the prices break down under the 25338.53, the prices will go lower and it might be the continuation of a downtrend. Looking at the big picture, I have plotted in the chart, the important resistances that the price should break up (around 8 main resistances), continuously bouncing between them, including the intraday pivot points bands. Please check the trend, and go with the trend, bouncing and breaking in the same direction up or down is the key to confirming the trend direction. Also, remember pivot point level, and the MA200 are other important bands to confirm if the market is bearish or bullish The big picture analysis will be active for a while, "but" if the prices go lower than the 25338.53 I might need to recalculate all the resistances levels. The market has the last word.
COINBASE:BTCUSDShort
by Bekapc
NASDAQ, Big Picture analysis.Hey traders, Nasdaq has broken an important resistance at 12661, signaling the downtrend is almost over "but", tomorrow we might be in the middle of the downward for some days or maybe just 1 day. (Target Between S1-S2) The reason: The last upward had broken the resistance at 12661 and tomorrow it might start the retracement, until 11906, fib 78%. and then the prices will go higher between bands. Important if the prices break down under the 11906, the prices will go lower and it might be the continuation of a downtrend. Looking at the big picture, I have plotted in the chart, the important resistances that the price should break up, continuously bouncing between them, including the intraday pivot points band. Please check the trend, and go with the trend, bouncing and breaking in the same direction up or down is the key to confirming the trend direction. The big picture analysis will be active for a while, "but" if the prices go lower than the 11687 I might need to recalculate all the resistances levels. The market has the last word.
SKILLING:US100Short
by Bekapc
1
TSLA, Dropping prices!Hello traders. Tesla has been consolidated and tomorrow we might have a dowtrend, by the way the gap could be negative! The prices might drop from 751 (PP) to 738(S1), to 716 (S2). hoping that prices don't break at 702 that it would confirm a new drop to 620, not tomorrow, but during this week. On the high side, we could have 774 to 785, conditioning that the prices bounce on the pivot Control point, pivot point 751 All this is to keep the technical reversal of the last uptrend. If the support of the prices doesn't work, the prices will go strongly down. But if the support works, we will continue with the natural transition to go higher in a short term. Please keep checking the trend, pivot point levels. The key. The prices should bounce on the pivot level to go higher.
NASDAQ:TSLAShort
by Bekapc
4
NASDAQ, Downtrend, The supports should work!!Hello traders. Nasdaq has been consolidated and tomorrow, We might have a strong sell zone, the last resistances, and support that I showed before still working and tomorrow we should check if the prices won't strongly break down at 12359 and if the prices do it, it should bounce at 11906. The target for tomorrow S1 -S2 All this is to keep the technical reversal of the last uptrend. If the support of the prices doesn't work, the prices will go strongly down. But if the support works, we will continue with the natural transition to go higher in a short term. Please keep checking the trend, pivot point levels, and the support and resistance I have plotted in the chart. The key. The prices should bounce in the pivot level to go higher.
SKILLING:US100Short
by Bekapc
2
GBPNZD Buy idea using Fibs, Pivot Points and ZigZag ChannelAre you looking for a potential buy trade on GBPNZD? If so, then you'll want to take a look at the Fibonacci tool. This nifty little tool can help you identify key support and resistance levels, which can then give you an idea as to where the market might be heading. In the case of GBPNZD, it looks like the market is currently testing a key resistance level. So, if you're feeling bullish on GBPNZD, now might be a good time to consider entering into a buy trade. Happy trading!
Long
by forexandprofits
EURUSD sell idea using Fibs, Pivot Point and Zig Zag ChannelEURUSD has been in a strong downtrend lately, and there are still good opportunities to sell it. In this post, I'll outline my reasoning for selling EURUSD at current levels, and provide charts to support my analysis. I'll also show how you can use Fibonacci retracements, pivot points, and Zig Zag channels to spot trading opportunities. So if you're looking to short EURUSD, check out my detailed analysis on the Forexandprofits' website.
Short
by forexandprofits