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Today's setup of my chart on 5min 15min. Using "OrbFib+S&R" Breakdown of my action steps from open to close: 1) Wait 5min orb 15min ORB form to draw FIB. 2) Wait for (S) or (R) formed on 5min 15min to draw 3) Make plans using (S)&(R) and ORB fib levels 4) Use new (S) or (R) as risk entry, pair with OrbFib levels for confirmation. 5) mange position using (S) of the trend with OrbFib's levels (S) ------------------------------------------------------------ Common Fakeout: often can be solved using 15min candle confirmation. Reason is 5min candles can trick IMPATIENT traders before 15min close. To wait for 15min to close, Trader has to sit n watch 3 of 5min candles to close. Impatient traders always rushing, trying to predict/guess the result of how the candle is going to close before it close... makes no senese in logic. They focus too much on Prediction/Guessing, it makes them blind&bias, not listening to what candles says.
AMEX:SPY
by FIBivanSPY
Opening (IRA): USO Oct 18th 69 Monied Covered Call... for a 67.44 debit. Comments: This isn't as low as I wanted to get in, but the short call is below where I would've entered would have to have been more patient and waited for 70. In any event, selling the -75 delta call against shares to emulate the delta metrics of a 25 delta short put, but with the built-in defense of the short call. Metrics: Buying Power Effect/Break Even: 67.44/share Max Profit: 1.56 ($156) ROC at Max: 2.31% ROC at 50% Max: .78 ($78) ROC at 50% Max: 1.16% Take profit at 50% max; roll in-profit short call to maintain net delta <30.
AMEX:USOLong
by NaughtyPines
Opened (IRA): USO Dec 20th 63 Covered Call... for a 61.26 debit. Comments: (Late Post). High IV (67.7% as of Tuesday close) + weakness. Added a "rung" to my existing position at a strike better than what I currently have on, selling the -75 delta call against shares to emulate the delta metrics of a 25 delta short put, but with the built-in defense of the short call. Metrics: Buying Power Effect/Break Even: 61.26 Max Profit: 1.74 ROC at Max: 2.84% 50% Max: .87 ROC at 50% Max: 1.42% Will generally look to take profit at 50% max, roll out in-profit short call on test of take profit. Here, the 50% max take profit would be .87 + 61.26 or 62.13.
AMEX:USOLong
by NaughtyPines
Comprehensive Technical Analysis: SPX 10-Minute ChartThis SPX 10-minute chart shows a clear intraday shift from a bearish to a bullish trend, accompanied by multiple technical signals. Let’s break down the analysis across different technical components: 1. Trend Analysis: Initial Downtrend: The session started with bearish momentum as indicated by Put Signals and declining price action. The lower lows created a brief bearish trend that ended with a strong reversal. Bullish Reversal: The reversal is confirmed by a series of Call Signals after a strong bullish breakout from the previous consolidation zone. The price broke above a significant resistance level around 5,731.94, leading to a steady uptrend. 2. Moving Averages: Short-Term Moving Average (Orange Line): This acts as immediate support during the bullish run. The price consistently stays above this line, indicating short-term bullish strength. The slope of the moving average is steep, reflecting increasing bullish momentum. Mid-Term Moving Average (Blue Line): Positioned further below, the blue moving average provides a broader support level. This indicates that the medium-term trend remains supportive of the upward move, showing a well-established bullish context. 3. Heikin Ashi Candles: Bullish Momentum: The Heikin Ashi candles display a strong bullish pattern with several consecutive yellow candles and minimal lower wicks, indicating reduced volatility on the downside. Temporary Pullback: A few red candles appear, marking brief consolidation but not a trend reversal. The continuation of yellow candles afterward confirms sustained bullish pressure. 4. Key Signals and Levels: Entry Long: A long entry signal is observed after the breakout around 5,731.94, which was an excellent point for entering the bullish trade. Exit Long: The Exit Long signal near 5,776.76 suggests taking profits after the bullish move. This level now serves as short-term resistance. Support Levels: Immediate Support: 5,755.43 – A pullback to this level would still align with the bullish structure as long as it holds. Major Support: 5,731.94 – This level marks the breakout point, acting as a strong floor for further bullish moves. 5. Volume and Momentum: Although volume is not displayed, typically such strong moves (as indicated by Heikin Ashi and moving averages) are accompanied by rising volume. Momentum: Bullish momentum remains high, supported by consistent upward price movement and the sustained hold above the moving averages. 6. Resistance and Future Outlook: Immediate Resistance: The price is facing resistance at 5,776.76. A break above this could open the path to higher levels, potentially testing psychological levels like 5,800. Continuation or Pullback: If the price breaks above 5,776, we can expect a continuation of the uptrend. However, a failure at this resistance might lead to a short-term pullback to 5,755 or even 5,731. Conclusion: The chart reflects a strong bullish reversal with clear signals of upward momentum. Traders should watch the 5,776 level for a breakout confirmation or potential pullback to the key support levels at 5,755 and 5,731. Maintaining the trend above the orange and blue moving averages will be crucial for sustained bullish movement.
AMEX:SPYLong
by Deno_Trading
GUSH from $27.62 to $31MODs have suggested that I provide more detail about the picks I make. Sorry. I'm not as verbose as y'all, and I don't like things to be complicated. My trading plan is very simple. I buy or sell at top & bottom of parallel channels. I confirm when price hits Fibonacci levels. Bonus if a TTM Squeeze in in play. I hold until target is reached or end of year, when I can book a loss. So... Here's why I'm picking this symbol to do the thing. Price at bottom of channel (period 39) Stochastic Momentum Index (SMI) at oversold level VBSM is negative In at $27.62 Target is $31 or channel top Stop loss is $26.50
AMEX:GUSHLong
by chancethepug
SPY: Watch Out For These Turning Points (D&W Charts).Daily Chart (Left) Resistance and Support Levels : Both $574 and $565 have served as support and resistance points in the past, and are good examples of how the Principle of Polarity works in technical analysis - when broken, support points become resistance points, and vice versa. At the moment, SPY is struggling near $574, its current resistance, which is very close to the 21-day EMA. If it fails to break it, $565 is its next stop. EMA and Price Action : The price has recently tested the 21-day EMA, and while it experienced a brief dip below this moving average, it has recovered. The EMA could act as immediate resistance if there is continued upward pressure. In addtion, the 21-day EMA is pointing down, reinforcing the short-term downtrend. Short-Term Pattern : The presence of lower highs/lows indicates weakening momentum, so keeping an eye on whether the price can break above $574.71 or fall below $565.16 is crucial. Weekly Chart (Right) Uptrend Line : The long-term uptrend is intact with a supporting trend line dating back to late 2023. This trend line, coupled with the current support level at $565.16, will be pivotal for sustaining the broader uptrend. EMA Support : The weekly EMA is also below the current price, suggesting a positive long-term trend. Any pullback to this level would still be within an acceptable correction phase. Conclusion: SPY is currently at a decisive point. If it manages to break above the $574.71 resistance, the uptrend could gain strength . Conversely, a failure to hold above $565.16 might trigger a pullback to the weekly trend line or EMA, materializing a long-term pullback (but not reversing the long-trend seen on the weekly chart, just triggering a sharper correction). This is a crucial watch zone for both bulls and bears to define short- to medium-term strategies. For more detailed technical analyses and insights like this, be sure to follow my account. Your support helps me continue providing valuable content to help you make informed trading decisions. Remember, real trading is reactive, not predictive, so let's stay focused on the key points described above and only trade when there is confirmation. “To anticipate the market is to gamble. To be patient and react only when the market gives the signal is to speculate.” — Jesse Lauriston Livermore All the best, Nathan.
AMEX:SPY
by Nathan_The_Finance_Hydra
2
SPY/QQQ Plan Your Trade For 11-5 : Election DayThis video highlights what I believe is likely to happen today and into tonight (when the real news will hit). Additionally, I continue to warn that a price anomaly is very likely starting sometime after November 10. Ultimately, the markets will struggle throughout the rest of the week, likely becoming a bit more volatile after the election. I do believe the markets will move into the price anomaly event near November 10th and that event will likely transition into a big opportunity for traders sometime after November 15-18. My ADL predictive modeling system is showing this anomaly event is highly likely in certain sectors. Overall, I suggest traders continue to trade small allocation levels today as we get past "election day". The bigger opportunities come over the next 3 to 6+ months. Today is not the day to be a hero. Today is the day to sit back, maybe target a few decent trades, and wait for the dust to settle. Get some. #trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
AMEX:SPYShort
by BradMatheny
$SPY November 5, 2024AMEX:SPY November 5, 2024 15 Minutes. For the extension from 539 to 575 to 565 AMEX:SPY made 61.8% of the move at 586 levels. For the fall 583.32 to 568.44 it retraced 50% to 575.5 levels. Now we have a sideways in box range between 575 to 567. Bias id down as AMEX:SPY below all moving averages. The positive side we have is for the lows 568.44 and 567.86 in 15 minutes we have oscillator divergence. Therefore, if I take the rise 539.95 to 586.12, I expect first target to be 563 being 50% of retracement for the move. Bias is towards short side.
AMEX:SPYShort
by RiderTrader
17
Technical Analysis for SPY (1-Hour Chart) for Nov. 6, 2024Price Action Overview SPY has been in a descending channel, reflecting a recent downtrend. The chart shows lower highs and lower lows, indicating bearish sentiment, with price bouncing between the parallel channel lines. SPY is currently trading near the $568-$569 level, a minor support area where it might find temporary stability. Volume has been gradually decreasing, suggesting that sellers could be weakening, which might pave the way for a potential rebound or consolidation phase tomorrow. Key Levels to Watch Resistance Levels: $575.55: Immediate resistance, near the upper trend line of the descending channel. A break above could indicate a bullish reversal. $583.29: Higher resistance, where stronger selling pressure could emerge. Support Levels: $568.35: Current support. If SPY holds here, it may present a buying opportunity for scalpers looking to trade a bounce. $563.66: Major support at the channel's lower boundary. A break below this could trigger further selling pressure. Entry & Exit Points Long Entry: If SPY holds above $568 and shows signs of bullish momentum, consider an entry near $569-$570. Look for quick exits around the resistance of $575 for a scalp. Short Entry: If SPY fails to break above $575 and reverses, a short position around $573 with a target at $568 could be profitable. A break below $568 may signal further downside, targeting $563. Directional Bias Given the downtrend, the initial bias remains bearish, especially if SPY continues to respect the descending channel. However, if buyers gain control at $568, SPY could see a brief intraday rally towards $575. Traders should watch for price behavior at key levels to determine the direction. Disclaimer: This analysis is for educational purposes only and should not be considered financial advice. Trade responsibly and manage your risk effectively.
AMEX:SPY
by BullBearInsights
SLV eyes on $29.48: first/best of 3 possible supports for longsThis is in conjunction with my big picture Silver chart (click). SLV has had a significant pullback that may be done. Ended last week dancing on a pretty serious support. Ideally this is bottom, or should at least bounce a bit. $ 29.37 - 29.48 is the immediate and best support $ 28.83 - 28.89 is the next and moderate support. $ 28.37 - 28.40 should be strong and is CRITICAL. ================================================= .
AMEX:SLV
by EuroMotif
$SPY #IslandBoy #ComingSoon like $PLTR $TSLA $VFCCrystal ball telling me AMEX:SPY is gonna leave put buyer's stuck on an island in the coming weeks/months. Higher Lows + Higher Highs = Uptrend intact I always mention "Shakeout B4 Breakouts" AMEX:SPY wedge + Election = WallofWorry/Fear (Buy when...?) Tomorrow could be filled with more "fear" perhaps a vol spike, but I expect/hope for AMEX:SPY to hold this gap down range then Gap up Thorsday and put up a strong gap + hammer candle... - Prophecies PS; If looking for recent #Island examples check tickers in title. All recently putting up "Island Reversals" after earnings... Election = Spy "Earnings"
AMEX:SPYLong
by Prophecies_R_Us
8
NVDA (NVDL) BIG MOVE BREWING, BUY THE DIP! 100%+ MOVE INBOUNDNASDAQ:NVDA NASDAQ:NVDL BIG MOVE BREWING, BUY THE DIP! 100%+ MOVE INBOUND In this video, we discuss the following: 1.) My #HIGHFIVESETUP trading strategy which incorporates charting patterns, volume profiles, MACD, RSI, and TREND. Notable recent winners with my strategies include NASDAQ:TSLA NASDAQ:SOFI NASDAQ:MBLY NASDAQ:AMZN NYSE:HIMS 2.) Go in-depth on how to tell when an investment or trade will go against you and what you should be looking for. We go over my favorite indicator for this, which is the Williams R%. We primarily discuss the 2X levered ETF NASDAQ:NVDL which has the same setup as it's parent NASDAQ:NVDA . So feel free to use this setup for either one depending on your risk tolerance. Thanks for all the support! Over 500 TV followers in such a short period of time, you all are amazing! LIKE l FOLLOW l SHARE for more great content and analysis! NFA
NASDAQ:NVDLLong
by RonnieV29