SPX - The day after the bears bled.Now, after the bears bleed yesterday, we see another pullback. Like I said in my last analysis, there’s nothing here that tells me the trend will change. I’ll say the 6th tenet of Dow Theory again: “Trends Persist Until a Clear Reversal Occurs”.
Until then, it’s a bullish trend. Now, what would make me change my mind? Simple, if the price loses that light blue line in the chart would trigger an alert in my head. Also, I like to check the hourly chart for some insights:
See that blue line, indicating an upward trendline? If the price closes under that line, I’ll be alert too. Meanwhile, there are no technical reason to buy, neither to short, because you take the risk of losing some money (like yesterday’s bear trap). I prefer to wait for some confirmation, calmly, patiently, like a sniper.
Check out my last SPX analysis here:
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Pivot
XTZ - Time to get your profits?Ok, so XTZ reached the “resistance zone” and did a bearish pattern. As I said in my last analysis here, I’m not in XTZ, and would only buy it if it dropped back to some support, which could be the 21 ema, that blue trendline or any of these red lines on the chart (previous tops).
It’s still a bullish trend, but if you have some Tezos with you, be aware, because you may see a pullback. It would be a natural movement, and out attract more buyers (me for example), who didn’t catch this trade down there.
Today’s candle is a little uncomfortable for those who are long but remember the 6th tenet of Dow Theory: “Trends Persist Until a Clear Reversal Occurs”. If you are a more aggressive trader, you could investigate the hourly chart for more clues:
The price dropped and lost one support (red line), and now it’s struggling at another one (black line). I maintain what I said in my last analysis, and you can set you stop-gain in different ways, accordingly to your will.
You could’ve stopped when it lost the red line, or when it does a bear pivot in the 1h chart, or if tomorrow it loses today’s candle low, for example. It will be all accordingly to the technique and your psychological state.
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SPX - We warned about the bear trap.Hello investors! Yesterday, I saw some traders calling it a short opportunity, but we already knew it was a bear trap. Just as I said in my last analysis, SPX resumed its trend and yesterday was only a healthy, necessary pullback for the price “take a rest” and go up again.
How we knew it was not time to short yet? Well, it just did a pivot at the hourly chart, and the price found support in both the light blue line (previous top) and the 21 ema. That means yesterday was only a pullback. Hourly chart:
We should be very careful and remember the Dow Theory’s 6th tenet: Trends Persist Until a Clear Reversal Occurs.
Remember to follow me, I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped.
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XTZ - The bulls are strong, but keep your eyes open!As a request, I’ll analyze Tezos today. It did an impressive bullish move, and now is near a resistance zone. It is pivoting continually, and the bulls doesn’t seem to be weakening at all.
At the hourly chart it did a H&S pattern, which would give a very nice trade, as you can check here:
If I was in the trade, I would be very aware of the “resistance zone” and get out if the trend change. It could be a bear pivot, a bearish chart pattern or even the loss of a previous support, as indicated by the red lines in the daily and hourly charts. Suit yourself here and do whatever gives you more psychological comfort.
Since I’m out, I must wait for a pullback, and the “resistance zone” is the ideal place for that to happen.
Remember to follow me, I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped.
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SPX - Just closed a GAP.* Remember to support with LIKE and FOLLOW me for more analysis *
SPX today’s candle is a little annoying, yes, but we shouldn’t expect that the market can always go up, without taking a rest. The price respected the 2858 support zone (light blue line) and closed a gap.
If we look at the hourly chart, we may see this move as a correction after a pivot breakout, which is a natural and healthy move for SPX.
Now, there’s not much to do. Like Charles Dow would say, the trend will continue, until it got reversed. In the lack of any bearish sign, we can understand any drop in the prices as a pullback.
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Camarilla Weekly resistance levels H4 chartPPO and momentum on these higher time frames are getting tired. the daily range still under resistance. weekly is at resistance. And monthly is at range resistance. I think we may rally potentially to 7.6-7.9. We may pump up. so manage the risk that is appropriate to you.
Bears are never truly gone for good. They are always in the woods waiting
AUDCHF Price just peaked out at R2 on the 1hrThis is a full breakdown of my perception of price action on higher time frames! I take my entries using smaller time frame confirmation and you should, too. If you have any questions about this trade or my strategies feel free to ask them in the comment section below!
Let’s make some money together!
Today Pivot Points Support and Resistance | Try itI calculate the important lines of support and resistance in my own way. They are good for determining the end or beginning of new trends, as well as for intraday trading and swing trading. In any case, this is a very important confirming moment for my trading strategy. Try it and tell me your opinion. Thank!
TICKER S3 S2 S1 Pivot Point R1 R2 R3
EUR/USD 1.072 1.077 1.08 1.086 1.09 1.095 1.1
USD/JPY 106.572 106.967 107.213 107.673 108.019 108.396 108.753
GBP/USD 1.223 1.23 1.236 1.243 1.25 1.255 1.261
AUD/USD 0.62 0.625 0.63 0.634 0.64 0.643 0.648
USD/CHF 0.959 0.962 0.966 0.969 0.973 0.976 0.979
NZD/USD 0.584 0.59 0.593 0.599 0.604 0.609 0.614
USD/CAD 1.384 1.393 1.4 1.409 1.418 1.425 1.433
NZDJPY UPDATE This is a full breakdown of my perception of Price action on higher time frames! I take my entries using smaller time frame confirmation and you should too. If you have any questions about this trade or my strategies feel free to ask them in the comment section below!
Good Luck!!!!!!!!!!!
USDCAD Will Price respect Support? This is a full breakdown of my perception of Price action on higher time frames! I take my entries using smaller time frame confirmation and you should too. If you have any questions about this trade or my strategies feel free to ask them in the comment section below!
Good Luck!!!!!!!!!!!
TECHM Intraday for 6th Apr 2020Mostly downtrend....Do not go long..
Short below 520.5, tgt 1- 510, tgt 2 - 491...
If price opens below 512, short @ 510 , tgt 491
No long until price reaches above 540, tgt till 580...or follow pivot points....
If price opens gap down and reaches around 490 levels, go long with tgt as pivot points till 520 max...