TheBullandBearLounge

TheBullandBearLounge Updated 

From left to right on the chart. Price established support at 151 / 152 level and after it lost it, price dropped to a new low at 140 (also psychological) From there we had a mini rally towards 150 forming an ascending wedge. Once the wedge broke,(great short trade) we saw price just collapsing and not only retesting the bottom of the wedge but making a new low...

TheBullandBearLounge Updated 

Seems like an inverted head and shoulders is forming on TSLA (1hr) The left shoulder and pivot price being $680.20 A failure of that support to hold, we might retest lows at 615 (strong support, head) and 600 (psychological level) If market bounces and we can form a right shoulder at $680 (rejection and support) we could push higher towards 785 (base) I will...

TheBullandBearLounge

A couple of things to track on BA 1- Ascending triangle on the hourly chart with resistance at 141.40. This level has rejected many times now. Above that we could start moving higher towards 143.40 2- There is a rectangle that has formed while consolidating sideways with the same resistance level 141.40 I will be watching this name to see in which direction it...

TheBullandBearLounge

Massive descending channel on ZS with a possible retest of upper trendline. If you zoom in on a smaller time frame (1HR) you can clear see some resistance at 163.94 / 164 level. This level has been holding for a week now. If that level breaks, there is not much resistance until 186 which is 5/22 lows and trendline from the highs in December. A great R:R trade.

TheBullandBearLounge Updated 

CHWY broke below longtime support and I am waiting to see if this level gets retested as resistance. Going to be patient on this one and wait for a few green days and rejection off support level. Ultimate target would be $22

TheBullandBearLounge

Coming into the next few sessions, SPY is all about the 406.35 level in my opinion. This level was resistance late May and have become support (2x) last week. Price also broke a trendline from the 380s lows last month. If we come to retest this level again, I am not so sure it will hold. Below 406.35 we have 404 and below that 398 Long would be only above...

TheBullandBearLounge

Interesting chart. Price for a while couldnt break 411.50 support (left) and after it broke, it tried to reclaim it many times and trade above it, but the level proved to be a strong resistance and pivot to the upside. Supports: 347.16 - below that can see 325.15 and below 308.23 Only interested in the upside if we break 411.50

TheBullandBearLounge Updated 

Watching what kind of reaction we will get if/once we get to the trendline from lows. Keep an eye on it. Good to note the fake breakout today, could it be telling us something?

TheBullandBearLounge Updated 

Despite market weakness, AMD has been holding and battling the psychological $100 level. Also, I can see that a possible symmetrical triangle (a little wonky) black lines. My plan into tomorrow is watching the direction of this move. Upside scenario: Above $93.83 would long it targeting $96 and above that $100 Downside scenario: I would wait to see if price will...

TheBullandBearLounge Updated 

TSLA has been very weak (just like everything else) I am watching a possible Lower High in the 1hr. We can clearly see support at 690.63 area, tried to move from there, rejected at 730 and then failed to hold that support (690.93) moving all the way down to 640 area where it is now the new support. IF price can move higher and retest 690.63 previous support and...

TheBullandBearLounge Updated 

After Earnings Report and the massive sell-off, TGT spent the last few days in a sideways consolidation (rectangle) - One of my favorite setups. Upside case: Above the top of the rectangle (155.81) I would go long targeting 161.50 Downside case: Below 150.95 I would go short targeting 146. I am treating every trade as a scalp and I have not been holding any...

TheBullandBearLounge Updated 

DE gapped below $400 with some strength and now a clear bear flag is formed. Ideally I would like to see some more consolidation inside the flag, however keep an eye in which direction this will break to. Above, could try to fill the gap to $400 Below, could test $372 and $362 levels

TheBullandBearLounge Updated 

SPY has been playing out nicely the past few weeks. As I mentioned before, I am not holding positions over night, only day trading and the levels and patterns have been on point. Since the last pattern I posted (Inverted Head and Shoulders) SPY just moved as i expected. From the Inverted H&S break it formed an ascending channel which broke on Friday to the...

TheBullandBearLounge Updated 

Here is a look at the possible Inverted Head and Shoulder formation on SPY (1hr) One thing to keep in mind, SPY is clearly in a downtrend, and there is no point in trying to time the bottom, the smartest thing to do is play what you see, take profits, reset and do it again. On this 1 HR chart, there is a possible inverted H&S in the making. Left shoulder being...

TheBullandBearLounge Updated 

Since April, HD has been trading sideways in between 315 and 300 Price finally picked a direction and pushed towards 280 , making the 300 level a strong resistance. Last week we saw a first attempt to break above that resistance and failed, proving that it is a strong level (Also psychological level) Watching to see which direction it will resolve. Maybe another...

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TheBullandBearLounge

A quick video showing some levels I am watching for SPY going into the next few sessions. Hope you enjoy

TheBullandBearLounge Updated 

Just a few levels on TSLA I am watching. Has been playing level to level very nicely. Price now approaching previous support zone, will be watching to see if it breaks of gets another rejection

TheBullandBearLounge Updated 

After a possible fake breakdown (Feb lows) Spy rallied over 10 points off FOMC today. It is right now basing below 429.15 / 430 which is a VERY strong resistance. This level has been tested already 4x. I would like to see some consolidation, preferably a flag/channel, and then another push towards this level . I believe now it will break and we can see 432. For...