Volumeprofileanalysis
SPY Long Term Trending Up LONGOn the weekly chart, SPY has formed an inverted head and shoulders in the past
9 months Importantly price has now passed above the POC lines of the long term
and intermediate term volume profiles. The inverted head and shoulders pattern
is classical for a bullish bias for price action. Price has been cconsolidated about
the central VWAP of the anchored VWAP bands locked onto the covid lows.
SPY should now make an attempt to rise toward the 2022 high of 480.
The RSI indicator confirms the long term trend with increasing strength.
In consideration of this I will take a call option trade of the strike of
$415 to HKEX:425 with 90-120 DTE. Overall, the SPY weekly chart, suggests
a general market recovery is increasingly probable. Those keeping their powder
dry and staying ready with cash will be rewarded once the market slows down for
the summer and gets more active in the fall months/
The Steamroller Secret: Why Chasing Small Gains Could Cost YouSimply put, the current market seems to be reaching its limits and it's wise to be cautious. As the saying goes, "Never pick up nickels in front of a steamroller," we shouldn't take unnecessary risks for small profits when there's a chance for significant losses.
The tools we use to analyze the market usually go through highs and lows. It appears that there might be one last upward move before the cycle heads back down.
When looking at the volume profile, we see we're entering risky territory since we're now two standard deviations away from the volume point of control. This implies that the market might be reaching a level that can't be sustained for long.
In short, the current market conditions seem pretty uncertain to the upside, and it's essential to consider these factors when deciding on trading actions.
#cycletheory #auctiontheory #PrimeIQLabs #volumeprofileanalysis
Local range scalps/Day tradesSome areas of confluence from which to potentially take some local scalps if as price hits these levels and market cipher shows divergence on both momentum and money flow from the
15 min chart to the 1 min chart.
If price does not just plummet or jump upwards rapidly.
BCAN penny stock microcap combining AI and Cannabis LONGBCAN is a microcap in the AI serving the cannabis industry. It's software is patent protected.
It is currently trading at less than 25% of its all time high and has a history of volatile spikes.
This is a low float stock with insiders holding significant positions.
On the one hour chart, in the past couple of days, price has descended from the POC line of
the volume profile down to sit on top of the demand zone as shown by the LuxAlgo indicator.
The Wycoff volume oscillator shows the corresponding selling volume dominating over
buying volume.
I see this as a long trade with targets of the POC line and the top of the high volume
area of the volume profile. The overall profit of about 17-18% . The stop loss is set at
5% below the entry in the demand zone.
Swing LONG $US500Bullish engulfing candle after tapping a demand zone.
Tempted to long from here but I'll wait till tomorrow, see how price holds above the demand zone.
Goodnight!
EURUSDAn obvious accumulation that could take the price higher. Could be a good trade before deciding what is the long term direction of the price.
Study on usdjpy using smcThe overall point of view is that the pair has broken the uptrend structure.I am waiting for liquidity grab as smooth little uptrend then in case of preserving the last high so it should come to the first liquidity area formed during the movement upward as it shown
2023-03-28 EURUSD intraday shortAs I mentioned in last idea, EURUSD is ok to short now 1.083, SL 1.085.
Dropping below 1.08 would confirm bearish.
2023-03-28 Gold intraday longAs we can see the volume profile, Gold is very close to the 1957 level which broke up.
Now it becomes from resistance to support now.
the high R is around 1975, so we can long if we see a nice K line here with SL 1952.
Good luck happy trading. follow my tw and ytb pls.
2023-03-28 EURUSD intraday planas we can see on volume profile, the EURO bull is going to slide up to 1.087 level where I am going to watch price action with volume changement and decide if I should short there.
2023-03-27 GBPUSD short intradayshort at 1.2263, SL 1.23, target 1.207
breakdown 1.22 to confirm intraday bearish.
welcome commenting
2023-03-27 USDCAD intraday long planopen long at 1.37384, SL 1.3723, target 1.395
if stopped out, wait NY session to try again.
2023-03-27 EURUSD intraday short planEURUSD weekly is bullish but I still want to short in H1 level.
Today I plan to short from 1.078, SL 1.082, target 1.063-1.067.
would close before USA GDP.
if break down 1.074, will open short position instantly.
Good luck.
2023-03-27 AUDUSD intrad short planlooking to short AUDUSD today, if bounce to 0.666-0.668, would short from there with SL 0.0.67, target 0.65.
should close before USA GDP data.
will update when I trigger short position.
2023-03-24 EU intraday longlong at 1.08275, SL 1.08, target 1.09.
pay attention to NY session data impact, better close position b4 that.
It is possible that we reverse around 1.09.
I will try to update in time.
