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ES1! SPY FuturesLooks like price has risen again with declining bull volume. If you look at the orange arrows, you can see what happened last time price action held after price rising on declining volume. We are overbought on RSI. If you look closely, we are on the top side of the macd and its just crossing. However, on the 4 hour, we are both overbought on the RSI and the Mac D. Might be a little early on this move but let's see what happens. Would love price to test one of the recent lows. I know its big earnings week however there could be some profit taking at this level with the current market conditions we are in. If this trades goes wrong and price continues up. I'll exit and re enter once price exhausts more.
CME_MINI:ES1!Short
by Redimere_91
EURNZD UpdateI can't lie....I'm glad this trade working out. However, I am now candle watching on the 1 and 4 hour to see how much juice this pair has left. I don't see any decline in volume even with us being at overbought levels on the RSI. The macd is just now crossing the zero line on the 4 hour timeframe. Resistance has barely been met but is close. Would love to see price test the previous high which was around 1.75470 ish the last time the mac d was at its peak. We have broken the previous high of 1.73523 ish where our RSI was last overbought. So at this point I will let candles take me out if i see declining volume on the 1 and or 4 hour timeframe.I still think we have more room to go but the only thing we can read and have some control over is candlesticks relative to volume. Let's see what happens.
by Redimere_91
NZDUSD Update If you saw my current outlook on the DXY, this pair could have some more room to go down if sentiment holds true. I exited this trade earlier today with 60 pips and wanted to play it safe when the market started pulling back. However, this one of my 4 tickers I trade so an update needs to happen. The RSI is not OS just yet but is close. MacD still on top side and bearish volume still looks to be strong. If you look at daily, you see the bullish volume coming down VERY slowly compared to stronger price movement to the upside. For this pair im pretty much just watching candles on the 1 and 4 hour to just track its until the 4 hour goes oversold then will try to update once i see another move or something. This isn't a good area to get it...again this is just a tracking update.
by Redimere_91
ETHUSD UpdateWe are at a resistance level here. We may have some bearish divergence here with a double top on the RSI and the recent higher high. Price seems to be have risen on the more recent move with not enough clearance on bullish volume so I can't buy it. RSI is at a 50 level coming down off some sideway candles. Could price be exhausting? I can't see why we wouldn't see the lows tested at some point. Mac D is also losing momentum and may send price down if resistance levels hold in the near future.
BITSTAMP:ETHUSDShort
by Redimere_91
2
Zoom #zm #zoom $zoom $zm update Let's take a look at Zoom since its IPO in 2019. I think that Zoom could be another one of these stocks that is moving so much more like Risk and crypto that there is a good chance it finds its own base and bottom before much of the rest of the overall stock market etc. I think that these current levels are becoming quite attractive even for swing trades over the next few weeks/months. but even more so for anyone looking to park some $ for the next 12-36 months, or more. I feel that Zoom was not just a Temp. useful play during lockdowns and covid19. I think that Zoom will continue to grow and gain adoption. I think that Zoom still has a bright future and has opportunities to even evolve and become something more then it currently is. If you would like More zoom updates, please feel free to let me know in the comments and what your timeline is like, and I'll do my best to try and help deliver added insight.
NASDAQ:ZM
by rarebreed29
Shopify #shop $shop making NEW 52-week.Shopify not only made a new 52-week low today, but we are also looking at buying it for prices not seen since pre pandemic. Prices that it had ran up into without the $ printer running #Brrr. Making this price range all that more significant. I have a theory that possibly some of these riskier assets and tech/fintech plays end up finding their own bottoms long before the actual SPX etc. and other stocks. I think that the more aggressive declines they dealt with earlier on has created a situation where they are ahead of the curve on finding their actual base values and building a structural floor for support ahead of the rest. Possibly kind of like the decoupling we are waiting for from Crypto in general. Stocks like Affirm, Teldoc, Zoom, Zillow, DocuSign, Sofi might also do similar. #Tdoc #sofi #zillow #Zoom #Docusign #afrm watch for similar theories to play out, I'll try and keep up to date on it and keep opportunities posted for others. But while researching and thinking for yourself those can be ideas to consider and watch for plays based on.
NYSE:SHOPLong
by rarebreed29