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Pivot Points

Weekly Plan $ES FUTURES 6/30/2024Key Levels: Resistance Levels: 5568 5602 5628 Support Levels: Weekly pivot: 5526 5502 5448 5410 Current Price: Now: 5533 Trade Plan: Primary Objective: Stay long or buy on dips as long as the price is above the weekly pivot of 5526. Entry Strategy: Initial Entry: Since the current price is 5533, which is above the weekly pivot of 5526, consider entering a long position here. Buying on Dips: If the price dips to the weekly pivot level (5526), enter additional long positions. If the price further dips to 5502, consider adding to the position again. Exit Strategy: Take Profit Levels: Set initial take profit at 5568. If the price moves above 5568, set the next take profit at 5602. If the price continues to rise, the final take profit target should be 5628. Stop Loss: Set a stop loss just below the weekly pivot at 5520. If the price breaks below 5526 and 5502, re-evaluate the position and consider exiting if the price drops to 5448. Risk Management: Use position sizing to ensure that the potential loss on any trade does not exceed 1-2% of your trading capital. Adjust position sizes based on the distance from the entry point to the stop loss level. Monitoring: Regularly monitor the price action around the key levels. Be prepared to adjust the strategy if there is significant news or events that could impact market conditions. Example Trade Scenario: Entry: Enter long at 5533. Stop Loss: Set stop loss at 5520 (below the weekly pivot). Take Profit: First target: 5568 Second target: 5602 Final target: 5628 By following this trade plan, you can manage risk effectively while staying aligned with the market direction as long as the price remains supported by the weekly pivot.
CME_MINI:ES1!
by dhjesus
Elliot Wave 3-4 : FINAL Correction before NEW ATHI've been watching this bearish M-Pattern for some time, and I still believe this is a multi-month playout towards a new ATH: This lines up with my initial correction target using Elliot Wave Theory: We see a very clear Double Top play out in the Total Chart, also indicating that it's time for a correction: HOWEVER - I expect the bulls to be ready and sweep in lower prices when the right support zone is reach (whale zone), which seems likely to be in the 40k zone. It won't be a straight line down - again, a multi-month playout is likely. _______________________________ CRYPTOCAP:TOTAL BINANCE:BTCUSDT
CRYPTOCAP:TOTALShort
by CryptoCheck-
Bitcoin is about to make a large move!BTC has lost some key technical support levels. The weakness displayed in crypto has come while the stock markets have been incredibly strong Its never a good sign when you see BTC getting rejected at double top. The previous ATH at 69k seems to be really keeping price action in check. BTC has 2 channels converging around 57k - 59K. Don't be surprised if we see more sellers in the next couple weeks. Util we break the bullish neckline, the 94K price is only a dream.
BITSTAMP:BTCUSD
by Trading-Capital
1
Daily Market Insights & Profitable Strategies Live Trading Expert: Specializing in Gold, Forex, and Cryptocurrency markets. 🔹 Daily Market Insights: Providing you with up-to-date market analysis and trading strategies. 🔹 Profitable Strategies: Learn proven techniques to enhance your trading skills and maximize profits. 🔹 Real-Time Trade Alerts: Stay ahead with instant notifications on market movements and trading opportunities. 🔹 Helping You Master the Markets: Dedicated to helping traders of all levels succeed. 🔹 Exclusive Tips & Updates: Follow for exclusive content, tips, and updates to stay informed and profitable.
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2
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