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Direxion Daily S&P 500 Bull 3X Shares

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SPXL trade ideas

SPXL bouncing at .618 & .5 retrace area BOUNCE?MODs 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 (periods 52 39 & 26) Stochastic Momentum Index (SMI) near oversold level VBSM popped negative Price at near.618 and .5 Fibonacci level In at $159.7 Target is $173 or channel top Stop loss is $153
AMEX:SPXLLong
by chancethepug
SPXL - Rising Trend Channel [MID -TERM]🔹POSITIVE signal from the rectangle formation by a break up through the resistance at 86.23 and next resistance 113. 🔹Between support at 75 and resistance at 95. 🔹Technically positive for the medium long term. Chart Pattern; 🔹DT - Double Top | BEARISH | 🔴 🔹DB - Double Bottom | BULLISH | 🟢 🔹HNS - Head & Shoulder | BEARISH | 🔴 🔹REC - Rectangle | 🔵 🔹iHNS - inverse head & Shoulder | BULLISH | 🟢 Verify it first and believe later. WavePoint ❤️
AMEX:SPXLLong
by wavepoint99
SPXL - Breakout Ceiling of Falling Trend Channel- SPXL has broken the ceiling of the falling trend in the medium long term, which indicates a slower initial falling rate. - SPXL is moving within a rectangle formation between support at 62.45 and resistance at 83.75. - A decisive break through one of these levels indicates the new direction for the stock. - The stock has marginally broken up through resistance at 75.00. - Overall assessed as technically neutral for the medium long term. *EP: Enter Price, SL: Support, TP: Take Profit, CL: Cut Loss, TF: Time Frame, RST: Resistance, RTS: Resistance to be Support LT TP: Long Term Target Price *Chart Pattern: DT - Double Top | BEARISH | RED DB - Double Bottom | BULLISH | GREEN HNS - Head & Shoulder | BEARISH | RED REC - Rectangle | BLUE iHNS - inverse head & Shoulder | BULLISH | GREEN Verify it first and believe later.
AMEX:SPXLLong
by wavepoint99
Are we about to make a measured move higher?Of course this is a leveraged ETF, but the underlying indexes, SPX, and futures, /es both look the same. The context is as follows: I looked for previous years where the S&P500 had a large drop, and then formed a flat top wedge over the coming months. I found 3 instances that you can see annotated in the charts. If you examine these formations you will see that in each instance the Index broke out and made a measured move upwards. What is a measured move? Measure the thickest part of the wedge to get a % gain. When the underlying security breaks out of the narrowest part of the wedge it will often move the same percentage upwards. In our current scenario we have made a 50% move this year in SPXL and formed a flat top wedge pattern. If this pattern can be broken to the upside another 50% gain will take us up to a price target of119+/- There is still a wall of worry out there, and anything could happen, so take this with a grain of salt. Stay tuned for further updates...........
AMEX:SPXLLong
by Sacyourking
45% Vs 57%Yes, we are in the middle of something, let me explain. we have a well formed rising wedge that is a bearish pattern, inside of an giant bull flag in theory we should se that pattern ending but that pattern is inside of 3 symmetrical triangles, one confirmes another 2 close to be confirmed, the symmetrical triangle is a reversal confirmation, so we should see a continuation for the uptrend. Green arrow point to the symmetrical triangles Blue arrow point to the giant bull flag Orange point to the wising wedge If for some reason the rising wedge was the winner the next week, could take us 45% down from here. But if the symmetrical is the right pattern and we are watching a trend change, we should see to complete the bull flag with more than 50%. I think that because the giant bull flag is too old, the symmetrical triangles are dominant and we should se the up trend continuation.
AMEX:SPXLLong
by AllAboutMoney
The last time Jerome...Do you remember Jerome powell talking about his failed policy, warning us of further increases?, that day 2 symmetrical triangles were destroyed, now we are maybe seen the born of a new one, why this change? NO MORE INTEREST RATES INCREASES, that means that all the adjustments to the valuations are now fully reflected in the market., the Fed's desire to increase their asset values should lead to a bull run. But, if the bank crisis goes further, maybe we can see the conclusion of something that looks like a broadening raising wedge taking us tu Oct. levels
AMEX:SPXLLong
by AllAboutMoney
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