1-Hour Chart Trading Analysis
Current Observations:
* Trendline Analysis: GOOGL is trading within a descending channel, with lower highs and lower lows, signaling a bearish trend on the 1-hour timeframe.
* Support and Resistance:
* Current resistance near $192.50 aligns with prior support-turned-resistance.
* Support levels at $183.92 and potentially lower at $180.00.
* MACD: Indicates weakening bearish momentum as the histogram bars decrease, suggesting a potential for short-term consolidation or reversal.
* Stochastic RSI: Oversold on the hourly chart, indicating the potential for a bounce in the short term.
Trade Suggestions:
* For Long Position (Bounce Play):
* Entry: Near $184.00, if the price forms a bullish reversal candle and breaks above the descending channel.
* Stop Loss: Below $182.00, to limit risk.
* Target 1: $192.50, as the nearest resistance.
* Target 2: $195.50, if bullish momentum sustains.
* For Short Position (Continuation Play):
* Entry: If the price fails to break above $192.50 or rejects from the descending channel trendline.
* Stop Loss: Above $194.00, to manage risk.
* Target 1: $183.92, near the lower boundary of the channel.
* Target 2: $180.00, if the bearish trend persists.
Daily Chart GEX (Options Analysis) for GOOGL
GEX Insights:
* Highest Call Wall (Resistance): $200.00, which aligns with psychological resistance and a significant gamma level.
* Highest Positive NET GEX (Support): $187.50, acting as an interim support level based on call/put positioning.
* Highest Put Wall (Support): $175.00, indicating strong downside protection by option traders.
Options Strategy Suggestions:
* Bullish (Bounce Above $187.50):
* Trade Setup: Buy a Call Option.
* Strike: $195.00.
* Expiration: 2-3 weeks out for momentum to build.
* Target: Profit if the price approaches $200.00.
* Stop Loss: Exit if GOOGL drops below $185.00.
* Bearish (Break Below $183.92):
* Trade Setup: Buy a Put Option.
* Strike: $180.00.
* Expiration: 1-2 weeks out, expecting rapid movement.
* Target: Profit as price nears $175.00.
* Stop Loss: Exit if GOOGL rises above $187.50.
Confluence Analysis
* Volume: Watch for a significant volume increase near $184.00 or $192.50 to validate breakout or rejection trades.
* Indicators Alignment: Ensure MACD aligns with the trade direction, and the Stochastic RSI confirms momentum before entering.
* Options Flow: Monitor unusual options activity around key GEX levels to anticipate potential moves.
Disclaimer
This analysis is for educational purposes only and does not constitute financial advice. Always perform your own research and manage your risks effectively before trading.
Current Observations:
* Trendline Analysis: GOOGL is trading within a descending channel, with lower highs and lower lows, signaling a bearish trend on the 1-hour timeframe.
* Support and Resistance:
* Current resistance near $192.50 aligns with prior support-turned-resistance.
* Support levels at $183.92 and potentially lower at $180.00.
* MACD: Indicates weakening bearish momentum as the histogram bars decrease, suggesting a potential for short-term consolidation or reversal.
* Stochastic RSI: Oversold on the hourly chart, indicating the potential for a bounce in the short term.
Trade Suggestions:
* For Long Position (Bounce Play):
* Entry: Near $184.00, if the price forms a bullish reversal candle and breaks above the descending channel.
* Stop Loss: Below $182.00, to limit risk.
* Target 1: $192.50, as the nearest resistance.
* Target 2: $195.50, if bullish momentum sustains.
* For Short Position (Continuation Play):
* Entry: If the price fails to break above $192.50 or rejects from the descending channel trendline.
* Stop Loss: Above $194.00, to manage risk.
* Target 1: $183.92, near the lower boundary of the channel.
* Target 2: $180.00, if the bearish trend persists.
Daily Chart GEX (Options Analysis) for GOOGL
GEX Insights:
* Highest Call Wall (Resistance): $200.00, which aligns with psychological resistance and a significant gamma level.
* Highest Positive NET GEX (Support): $187.50, acting as an interim support level based on call/put positioning.
* Highest Put Wall (Support): $175.00, indicating strong downside protection by option traders.
Options Strategy Suggestions:
* Bullish (Bounce Above $187.50):
* Trade Setup: Buy a Call Option.
* Strike: $195.00.
* Expiration: 2-3 weeks out for momentum to build.
* Target: Profit if the price approaches $200.00.
* Stop Loss: Exit if GOOGL drops below $185.00.
* Bearish (Break Below $183.92):
* Trade Setup: Buy a Put Option.
* Strike: $180.00.
* Expiration: 1-2 weeks out, expecting rapid movement.
* Target: Profit as price nears $175.00.
* Stop Loss: Exit if GOOGL rises above $187.50.
Confluence Analysis
* Volume: Watch for a significant volume increase near $184.00 or $192.50 to validate breakout or rejection trades.
* Indicators Alignment: Ensure MACD aligns with the trade direction, and the Stochastic RSI confirms momentum before entering.
* Options Flow: Monitor unusual options activity around key GEX levels to anticipate potential moves.
Disclaimer
This analysis is for educational purposes only and does not constitute financial advice. Always perform your own research and manage your risks effectively before trading.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.