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WSP1! trade ideas

SPY Day Trading Using @mwrightinc Indicators Give a man a fish, and you feed him for a day. Teach a man to fish, and you feed him for a lifetime. In this video, I explain how I use 4 free TradingView indicators to identify entries on SPY. There is a lot of information out there about creating support and resistance zones. But, drawing reliable ones only comes with experience. In my 3 years of options trading and indicator building, I've found a few patterns that seem to work pretty reliably with SPY. Order blocks, and SPY price levels at $2.50 increments, are 2 of the most predictable. To capture price movements based on these, I explain how I use the QQQ and SPY Price Levels and Magic Order Blocks indicators with SPY options and /MES futures trading. Additionally, volume weighted average price (VWAP), plays an important role every day because institutional (large) investors commonly use it for entries and exits. It is a great gauge of daily trends. ATR bands (also known as Keltner Channels) can also provide an at-a-glance look at what can be expected of price action in the near future. To monitor these, I explain how I use the ATR Bands (Keltner Channels) SRSI and Wick Signals and Multi VWAP indicators. Specifically, how they were used on the 11/13/2024 Trading day. All of the indicators are free and open source, and were built with the goal of making everyone a better trader. I hope you find the content useful. - Mo
CME_MINI:MESZ2024Education
by mwrightinc
2
ESPrice tagged upper trend monday... I highlighted last 2 times price went this overbought and tagged uppertrend. The first tag was after the August sell off. We reached the uppertrend and chopped for 2 weeks before dumping The second tag was mid Sept, we again chopped for 2 weeks but afterwards we bounced off the 20sma and grinded up another 2% or 90 points. So here we are now the pullback has been miniscule compared to the run up so I'd say we are in a chop phase So we either a chopped towards the 20sma around 5900 and bounce or Money flow is starting to dip low on the hourly which leads me to believe we will reclaim the highs again this week Be honest with you, I don't see a 10% drop coming till after the elections or by some unforseen catalyst. NASDAQ:NVDA earnings next week will have more of an impact on the indexes than CPI and PPI combined 😆 So my analysis is , Overbought Not bearish Seasonality strong.. Market will look for any reason (News) to buy dip. Choppy (1% range) for another week
CME_MINI:ES1!
by ContraryTrader
8
Chart you should be interested atThis scenario I shared took time and multiple scenarios from EW In the end, this is the best scenario And in my opinion, you could see how the high-risk markets started to pump That usually happens in the 5th wave of the bigger markets like sp500 etc... You can call that liquidity sharing It happens in the 5th to create as much FOMO as possible + bring liquidity to the market I still hold most of my positions in crypto and some stocks . About the analysis I shared . The one notice is It could go more up than the targets The targets I used are W5=W1 If you use W5=0.618,0.78 of W3 You will get other possible targets I am not hiding a secret here Those are kinda basics in EW or Fibo trading but most people forget about it I am not saying get out of the market I will never say such a thing What I will say is get ready for the next opportunity Dont burn your profits
CME_MINI:ES1!
by rerezz
#ES_F Day Trading Prep Week 11.10 - 11.15.24Last Week : Last week market opened under 5792 - 72 Edge which meant weakness to start the week and gave us moves towards lower VAH but again we kept getting buying at and under Previous Distribution Balance low and inside Value. We knew to be careful and that holding over 730s meant there is no need for larger supply to sell out. 724 was also an important area on Daily TF as it was the bottom of Daily Edge which we broke out of after our roll gap in September, we tested it but there was no break or any continuation under it. We knew if market gets back over 790s that could bring back strength to push back in Previous Value which is what we got on Tuesday leading into Election Results. Election Globex gave a huge move which continued higher towards 930s - 770s ranges Edge, took it out, consolidated and rest of the week we got lower volume grind higher into a new range to finish the week with a failure over new Value. This Week : Not easy to trade ATHs especially if we get them every few weeks or months and of course this move could be viewed as strength to bring in more buying that can keep us in this range or even continue grinding higher BUT something to keep in mind as few things are lining up here. We have made an Edge to Edge push on Daily TF ( reaching big Edge areas more often than not provides reaction in opposite direction ) , we have extended away from Daily MAs with a strong impulse that gave us blow off the top sort of move over our Previous Highs consolidation, we have finished the week with a failed or sort of failed push over VAH since we didn't fully come back in and held over 920s , we didn't reach new ranges top. Now all this doesn't mean we can't hold and continue balancing/grinding higher towards that Edge top and over still BUT if all this buying over 930s was from all the late buyers/traders who sat on their hands during the election days, came in saw areas holding and were buying for continuation to make money off momentum then they were also probably unloading as it went higher and might not have plans to hold this up long term unless market continues in their favor. If market does not continue in their favor and we get back under VAH / 620s then we could see this thing start moving towards their cost basis, we have Poor Globex low holding one of them up around the Mean of the Range, if that gets taken we will look for continuation towards VAL which has another cost basis and a base below it which could give us covering/holds in that area BUT I would not trust those areas for a longer term position, if market cant keep holding over the Mean/VAL of this range then we could see it come all the way back into lower Edge and maybe even under our Previous Highs to signal a failed new ATH break out. Will this all happen in a week or will it be a slow process is for us to find out, we don't really have market moving data to start the week and if we don't get new buying to keep pushing us then we at least can look for this process to start and see how it goes. On the other side for this move to stick and to think higher prices from here we would want to see us hold over VAH or at least push back towards the Mean/Hold over and get back over VAH as we need to get over 640s and test the upper Edge with holds inside or right under the Edge after the test, until this happens I will lean more towards a move back inside Value towards VAL and potentially finding our top around here.
CME_MINI:ES1!
by HollowMn
3
Veterans Day!Today being the beginning of the week and a bank holiday, the markets were choppy! From looking at the fair value gaps, I can see the potential for the market to drop. I also notice that the candlesticks are exhausting, so a pullback is evident, it’s just a question of how far will we pull back. Right now I positioned myself into a Put Options contract. We will see by tomorrow if anything will occur to help me hedge the position or add to it. With no economic data releasing until Wednesday, it’s a risk. But thats trading at its core. I am looking at today’s doji candle as a sign that we will pull back a bit more, it’s just a question of when and how much. Lately we have been on an aggressive bull run that the pullbacks have been very short lived. This is not a problem, it just takes a level of extreme focus, and unwavering confidence in your strategy to exit a Put position at the right time. We take a moment to study SPY, we see several gaps that were created last week from the run up. What goes up, must come down they say, so I would expect SPY at some point to come down a retest its gap at 593. Tomorrow will provide more data into what the pullback may look like. Until then I will keep my eyes on the futures market and prepare!
CME_MINI:ES1!Short
by RandiMichelle