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SPX: As we expected, it filled our first gap! What's next?Hello traders and investors! Today, the SPX hit our first gap, as we expected. However, we must be careful, as the situation is quite complex. First, in the 1h chart, the index moved according to our bullish thesis: It broke the purple line, traded above the 21 ema, and it filled its first gap at 4,583. This point is a natural resistance, and if we see a pullback lasting a few hours or even days from here, let’s not be surprised. The thing is that it did another gap today, and we still don’t know what kind of gap this is. If it is a Runaway Gap, great, the SPX will probably break the 4,583 and close above it, confirming a strong bullish momentum. If the gap resistance holds the price, and if we correct from here, this gap might be just a Common Gap, and a target for a possible correction in the near future, along with the 21 ema. This wouldn’t be a problem, as it wouldn’t ruin the bull trend seen since Jan 24, but this will surely delay any other bullish structure it could do next. So, be prepared for this scenario. In the daily chart, everything is going according to the plan, and it seems we have a bullish pivot point in process. By breaking the previous top, the index will confirm a bullish structure that could last for a few more weeks, and will probably hit our final target at 4,652, which is our second gap. Remember: Gaps work as magnets. We are finally above the 21 ema, and there’s not a single bearish structure that could convince me we will reverse from here. I’ll keep you guys updated on a daily basis, so remember to follow me to not lose any of my future analysis! Have a good day.
SP:SPX
by Nathan_The_Finance_Hydra
2
GBPUSD Breaking out of a Descending Broadening Wedge> Weekly pulled back to .618 Fibonacci, horizontal support, 200ema and found support to start a bull run now 3 weeks in. Possibly looking to reach the recent highs area at 1.4200. > Daily formed a descending broadening wedge & is currently starting to breakout to the upside. 1. Price could continue breaking out on the daily and form a small pullback to retest the wedge and horizontal support (maybe 1 hour flag over a few days) before continuing to 1.3950 which is the top of the pattern. OR 2. This could be a false breakout of the wedge. Price could make a larger pullback, moving back into the wedge and forming a higher low around 1.3500 horizontal support/ .382 Fibonacci/ 50ema, before forming a reversal and breaking out of the wedge again making a run to 1.3950 to 1.4200. Invalidation for an entry would be price continuing to run to target without pulling back or price moving back into the wedge and failing to form a higher low, moving back down to the lows. A negative is the monthly did form a double top and is in a bearish run.
Long
by DaneilDG
1
Is Face book undervalueLet’s start with fundamentals: 1.Earning for q4 was about 4 % below estimate (33.67 B) but still 20 % higher than same period last year. 2.Totall net income for 2020 was 29.15 B and for 2021(4 quarters) is 39.37 B. Isn’t it wonderful? And FB is trading at 232$ (is equal to the average price of 2020, but with 34% higher net income.) And after all FB is heavily investing in metaverse. This investment reduces net income for the current year and it will gain it back in near future. Now technical: 1.Who bought 181 M of FB shares yesterday and 42 M of shares until 12 PM while the average volume was about 20 M? Yes, big boys 2.look at the chart at weekly period: The important 200 moving average is touched and since 2016 only was touched 2 times, once in Dec2018 and the second was in March 2020 at the beginning of the pandemic. This moving average is an important support. 3.The volume that has been traded in this week is more than the volume in the peak of covid19 decline. 4.You can see the black line is a very strong support. 5.The CCI level is -385 which is the lowest amount from the IPO 6.The RSI level is 23 which is the lowest amount from the IPO. All saying that it will see the real value.
NASDAQ:METALong
by aliahmadieng1362
Silver Still bearish Hey guys, This is a follow up to my last silver post against stating the fact in the short-medium term Silver and the overall market travel together. Obviously not to the same percentages but direction, This is why Silver is a great indicator to overall market direction. I still feel Silver will fall to at least the C line before consolidating which would work with the us100 falling again over the next week. If Silver closes below the green line with that bearish candle it will be a quick fall to that Sub $20 mark. These points are also backed by the DXY gaining momentum after its little pullback.
TVC:SILVERShort
by jackwheeler
USDJPY - Weak Divergence + Potential H&S @ M Resistance - MTFA*** Trade at your own risk! *** *** Not every idea is also traded by us *** Hi Traders! In the following you'll see a Multiple Timeframe Analysis. It includes a screenshot and afterwards some bullet points. Monthly TF: - We had an Uptrend - Followed by an Triangle (Continuation) Pattern - The market broke out of the Trendline and made a bullish movement - Now, it reached the monthly Resistance - Down-Movement expected - Up movement in the Future is possible after the Down-Movement which would be the Pullback then --> Down-Movement expected Weekly TF: - We can see the Up-Movements with its higher Highs and higher Lows - It built some weekly Support Levels throughout its journey - Now reached the monthly Resistance - Down-Movement expected towards a Support (also possible to not reach any weekly supports. In this case it would turn the down-movement anywhere and would make a higher Low) --> Down-Movement expected Daily TF: - We here can see a potential Head & Shoulders Pattern --> Trend Change - We also see a weak bearish Divergence if we look at the RSI Oscillator --> Down-Movement expected H4-TF: - Trading Possibility: Wait for the next Pullback to enter H1 TF: - How can a Pullback occur? --> Potentiall when TL breaks If you have any questions, another POV or anything else to share, feel free to do so! Thanks and successful Trading :-)!
Short
by swissmoneymakers