Get started

SPXUSD

S&P 500 at Key ResistancesThis is a pure price action post and so it is a pretty simple idea (especially for me). Price action created a local high on the 19 of Feb 2020 and then another high on the 8 of June. The second high clearly marks the termination of an impulsive move. One way to understand how price action can act after an impulsive move to to to a fib retracement. We see the price action did a perfect retest of the 0.236 retracement level before returning to the ray set by points 1 and 2. I currently have the ray point to the opens of red candles prior to the gap down. Tinker with your trend line as you see fit. We still may see a week of chopping sideways as the local high gets established. If the local high at 3 is lower than two then that is three lower highs against this trendline and reaching lower fib-retracements is on the table. And that is the macro bullish senario. The macro bearish senario is we set a lower low than March 23rd When I look over at the CDF ticker SPXUSD I see some adtionally support becoming resistance that I like to see as a potential sign of reversal. I generally like finding price action at double resistance as you can see, with the rising blue trendling flipping from support to resistance on this third touch. It helps lend credence to the idea that the trend will continue set lower highs. On the other hand, for price action to overcome this resistance means I am not a little wrong, I am very wrong. See the linked idea for a phenomenological time I did similar analysis on BTCUSD using a previous example on ETHUSD.
AMEX:SPYShort
by This_Guhy
8
SPXUSD Volatility Stops and 9Season (4h, 12h, 1d)Partly working on a new indicator set so these ideas are part me working out my thoughts. see more at the bottom for those thoughts. The two volatility based stops, the VSTOP and the Chandelier, are both based off the average true range. Link to the 9Season idea Key points for all timeframes Support fails Volatility stops flip bearish (mostly) Bearish 9 season rainbow. 4h Price action for the ending of both uptrend shows price action finally breaking the black trendline then consolidation at the red arrow before the next leg down with both the Chandelier and VSTOP creating a ceiling. The 9 Season for the first bearish move showed yellow on multiple timeframes (which is clear resistance) and the lowest timeframe flickered lime green which is crazy overbought and generally unsustainable This current uptrend has flicked straight to bearish for 4 timeframes and at the highest timeframe has gone from yellow to lime green to weak bull. I expect it to go to bearish shortly as well. 12h The volatility stop for both movements still show the price action slipped the trendline and the volatility stops created a ceiling. The last move down had yellow at the higgher timeframes which was proved to be very bearish. The higher time frames for this move down are still green for a bullish move but the lower timeframes are yelling exhaustion. With the 4h timeframes looking so bearish I expect the 9Season to look bearish on all timeframes shortly. 1d for the last leg down the 9Season lagged a clear entry until the lowest timeframe went yellow to red and that was no better than shorting the trendline break. Also currently there is no daily signal on the 9Season. But the Volatility based stops were in pretty good agreement. Currently the different volatility stops are not in agreement. The VStop said we should have gone short either the last trading day or the day before, using the VSTOP beneath the trendline as a sell stop (very provisional notion here) while the Chandelier has us stopped out. The chandelier would have had you in the uptrend trade from 2640 to 3000 which is pretty good. The Vstop would have had you on this uptrend from 2450 to about 2773 then if you reentered from 2773 to 3170. Not bad either but re-entering is psychologically difficult. In conclusion 4h - Bearish and short 12h Bearish and short 1d Mixed, either close long and wait for clearer signal or use V-Stop Not financial advise as I am not a certified market technician, and this is a new system I am trying to work on. Have the same problems as many, not letting my winners run and not cutting my loses soon enough so my account could have gone up a whole lot more than it did the last 4 months. One thing I am looking at is changing the VSTOP and Chaelier setting to 2.1 or 2.2 to avoid some of those narrow wickouts . Prioritizing letting my winners run by giving them just a bit more space than getting a super quick entry. Other things I am looking at is doing some of my standard TA (MACD, OBV divergence, Bollinger band, etc) at one time frame, and then cutting the time fame in half to look for my entry. So if I am looking at a weekly chart for a move that could last months I would be looking at entry on the 3d chart. If I am looking at the daily chart for a move that should last a week or two? Maybe a month? Enter on the 12h (crypto, futures) or 4h (normie securities). Still very provisional.
FOREXCOM:SPX500Short
by This_Guhy
$2940 Must Hold! (SPX)We did have a surprising move from the spx500 as it broke above old Resistance of $2940 and currently sit at $2951. We want to see the old Resistance become new support for a trend continuation upward for the bulls. The daily, 3 day and weekly are all green. Which can help validate how strong this trend reversal is. I'd look to find a long term position on a short below 2940 or a long 2950, will play tight stoploss. If support cracks this could be a fakeout and return with a massive selloff. Perfect compression play setup with our Crossover strategy. As of now we are bullish. Time to get aggressive on the spx500. Have a blessed day! 😁 🥇MLT | PRO TRADERS
TVC:SPX
by UnknownUnicorn2319099
7