400
SPY CORRECTION 2022-2023SPY CORRECTION 2022-2023
This is possible correction if we break the 400 floor
$SPY DownNot sure if this would be considered an elliot wave, but the spy has seen numerous h/s patterns executed on various time scales since this run up in 2020 i believe. this one here is actually on the daily timeframe and it is the right shoulder to the larger h/s on the weekly/monthly timeframe; the neckline on the monthly is the red line below. im not going over all the targets on here, just know the white dashed lines are my bull/bear takeovers, blue lines are call targets, yellow lines are put targets, red line is the danger zone, and orange lines are trend lines. Green lines are not on this chart but that is the safe zone.
NOT FINANCIAL ADVICE. INVEST WISELY. INVEST IN YOURSELF. DYOR!
AMEX:SPY
TI INDIA LONG400 Ema working as support multiple times on 1hr timeframe
Fundamentals are good
Technical indicators bullish
Upside probability.
QQQ Short Idea off of 400s this week QQQ has been trading along these levels listed on the chart. After the face rip short week of Christmas to the end of the 2021 Calendar year, I think that there may be some profit taking on the Q's.
Some traders dislike MACD, but as we can see from the histogram the trend is starting to weaken. There is not much support underneath the current levels of QQQ. 392/388 may be tested if we drop.
The bullish case - a drop to 395 and then a strong move back up to all time highs. Volume needs to step in hard and acceptance of trend above 400. I think that traders are wary of COVID-19 and continued inflation concerns.
I am leaning bearish around 65% or so. I would not go anything closer than 4 weeks out on either bull/bear side for options.
If you compare the recent leg up and the following consolidation on QQQ to SPY I think you'll see that equities are poised for a reversal if bulls do not continue this impulsive leg up. If bulls do step in, and step in with conviction, we can easily see new ATHs pushed.
⚜ GBPUSD Long 400Pips ⚜Hello Traders, 🙋♂️🙋♂️🙋♂️
Here we have a GBPUSD long trade idea. If you like this idea please show your support!
GBP
The Pound ( GBP ) has surpassed our weekly low since the end of September and is approaching our next structure level below. We are expecting a possible reversal at this structure level which we don't want to miss! We can see similar price action in other pairs.
This GBP weakness can be seen across other GBP pairs, for example GBPAUD below :
We have 2 possible outcomes for this pair similar to GBPUSD . Both scenarios are supported in both pairs but we can analyse GBPAUD to figure out whether Scenario A or B will play out.
USD
United States Dollar ( USD ) weakness can be seen as price has hit resistance on its bull run. On the chart below we can see price has hit our structure level and trendline. Comparing this to reversal patterns we can see a possible shooting star forming which is a clear reversal indicator. 🌠🌠
DXY weakness
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Please trade with caution and make sure you set your stop losses! Happy Trading 😁
Be sure to check out my other ideas below!
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NZDUSD 400pip Short!Hello Traders,
Here we have a NZDUSD long trade idea. If you like this idea please show your support!
This trade idea is based off the fact of the USD reaching a weekly low and we can see some strength beginning to occur making NZDUSD pair weaker. Also the NZD is at a monthly high since the beginning of May so we are expecting some weakness which already seems to be happening now which we can see across other NZD pairs.
NZD Weakness in NZDCHF below
This trade has 2 TP zones
Entry 0.72130
Take Profit 1 (0.695) : 260 pips
Take Profit 2 (0.68130) : 400 pips
Stop Loss : 30 pips
Overall RISK:REWARD : 13.33
Check out my educational posts down below!
Please trade with caution and make sure you set your stop losses! Happy Trading 😁
Wow JPOW gives the GREEN LIGHT for equities. $410 inc Jpow putting some more steam in this massive bull market. 400 by end of week, 410 here before you know it.
AAPL $400 PRICE TARGETIF THE CURRENT TRENDLINE HOLDS STRONG WHICH IT HAS SINCE LATE MARCH, AAPL IS ON TRACK TO HIT $400 BY MID AUGUST.
PLACE YOUR CALLS ON THE NEXT DIP.
ETH PUMP 400$ BEFORE CORRECTIONMy modest analysis with a Fibonacci work, It's a Bullish scenario with nice correction
ETHEREUM: Next Stop 400We are having a formation we see quite often in Ethereum, we just have to wait for the break above trendline and a retest to get long for 400. Break below will dismiss this idea.
Trade with care.
Bitcoin Bear and Bull Fractals at Crossroads AgainBears:
Bitcoin is showing weakness with a double top at $475-500 and H&S formation as well. A move below $400 on Bitfinex will confirm the bears taking over and a potential revisit of $340-350 and even $315.
Bulls:
If we manage to hold above $400 then we will stay in 2 weeks of sideways and consolidation and break out after January 15th towards new highs of $650-680
Note: Any bad news e.g. BitcoinXT Fork etc. can wick down Bitcoin to $275 then shoot it back up.
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