NQ Power Range Report with FIB Ext - 9/28/2023 SessionCME_MINI:NQZ2023
- PR High: 14775.00
- PR Low: 14743.25
- NZ Spread: 70.5
Major Calendar Events
08:30 – Initial Jobless Claims
- GDP
10:00 – Pending Home Sales
16:00 – Fed Chair Powell Speaks
Strong response of the 14670 inventory zone
- Supply run started afternoon of prev session
- Continued volatility 1st hour, creating wide NZ spread
Evening Stats (As of 12:05 AM)
- Weekend Gap: N/A
- Session Gap: -0.01% (open > 14949)
- Session Gap: -0.33% (open > 15807)
- Session Gap: -0.11% (open > 15939)
- Session Open ATR: 230.61
- Volume: 33K
- Open Int: 242K
- Trend Grade: Neutral
- From ATH: -12.1% (Rounded)
Key Levels (Rounded - Think of these as ranges)
- Long: 16105
- Mid: 15247
- Short: 14675
Keep in mind this is not speculation or a prediction. Only a report of the Power Range with Fib extensions for target hunting. Do your DD! You determine your risk tolerance. You are fully capable of making your own decisions.
Widerangecandles
PSNY Polestar EV Sector Penny Stock LONGPSNY ( www.nasdaq.com
production-race) as a niche EV manufacturer has a production schedule which rivals
LCID, RIVN FSR and others. On the 15 minute chart shows the trend down of price and
then a reversal deep in the undervalued and oversold area of the lower VWAP bands.
The MACD shows lines crossed and then ascending crossing over the zero line and
positive histogram. The dual time frame has consistent information with rising RS shown
in both time frames. Price has crossed over the POC line of the volume profile suggesting
buyers have predominated. I will take a long trade here targeting first VWAP at 4.55 and
then 4.75 the level of the double top of July 18/19 with a stop loss below the POC line
at 4.32 the stop loss of a dime compares with the profit potential as analyzed.
BE CAREFULL - READ - BITCOIN TRADING FOR BEGINNER - BTC - DAILYThanks for the likes and shares. I really appreciated it, hope to help you the best to have another vision of the market acting as a support idea.
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Don't forget that from the 16th of December 2020 to the 8th of January 2021 the price has double from 20 to 40 thousands of dollars. Really?!
A gap has been created and never been covered yet.
The super squeezes in green circles are showing that a big fight is happening between buyers and sellers.
The price might become even more volatile but moving in a wide range horizontally. This means a lot of opportunity.
-The top rend line is probably the best selling point. A zone between the top red line resistance and the dotted red line shows a higher probability of price going doing from that area.
- The bottom bleu line acts like a probable support which could be break to retrieve the past price level where the gape has been created. Sometimes markets like to return in the past to say "hello". See it more how far could probably go the price in the decrease direction if bigger actors needed to kick people out of the market before entering long to make super profits. Trading with them would be great, therefore, see next point...
- The gape zone, marked with a green area could be the optimal point from which a long entry position would be the most interesting and profitable. The question is to know if you are patient enough to wait that moment in which people stop to believe in an increase of the Bitcoin and quit, when you, you will enter and enjoy the probable uptrend.
Hope that gave you a bit of insight on what I am thinking about the Bitcoin at the moment. Any link with the fundamental news? Maybe, but I prefer to look only at the charts. For the moment, I would probably be waiting for best moment to buy it around the gape zone. So I believe that it will lose strength.
Price action & Psychology - Breakout and first pullbackHello !
I am so excited for the week ahead.
Key points :
Breakout after consolidation + spike in volume
Volume on uptrends is higher than on downtrends
First pullback after breakout (61.8% Fibonacci retracement)
Holding support despite the fact that the overall market was down on friday
Context
The interesting thing on this chart, is that before the consolidation, a double bottom formed. Anyway, the momentum was not important enough to break through the resistance. After consolidating and pulling back halfway (from the second bottom), enough momentum was gathered to breakout, which explains the spike in volume.
This also tells us, that a psychological shift happened : there's been more greed and a stronger conviction (wide range candle and spike in volume).
The plan
Using the top-down method (i.e three screen method), the weekly chart gives us an insight of the bigger picture. The first resistance on the weekly chart is around 14.00. The "minor" resistance at 8.50 is more of a level to watch.
The more candle (i.e confluence) there is around an area, the stronger it is. Anyway, I plan the trade up to that level and I decide what to do once it reaches it.
Thanks for reading and if you have suggestions or wanna discuss the idea, just leave a comment, I'll be happy to answer.
***Disclaimer : This is not an advice to buy the stock. Please, be aware that trading is a matter of probabilities, it takes only ONE trader to deny your trade.***