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SPY to $650 in January?SPY recently retraced to the bottom of our Magic Linear Regression Channel with a large 3%+ move. Today, there was a nice bounce bounce from the channel bottom, back up to yesterday's open. So, what's next for SPY. The Magic Linear Regression Channel shows upside potential to it's baseline back at its recent all-time highs, and the potential for a higher move to the $630-$650 range. However, there is also the potential for it to fall back through the channel. Since we've been in a bull market for awhile now, that channel break would have to happen more definitively in order for that to be a likely scenario. We've recently introduced the Magic Candles PRO indicator, which shows high volume candles that have very little price movement. When paired with the Magic Linear Regression Channel on a 1 day chart, it tends to show reversals at key levels on the Magic Linear Regression Channel. However, because we had a large move down on Weds, Dec. 17th 2024, and a large move up on Friday, Dec. 20th 2024 and ended up at the open of Thurs., Dec. 18th 2024, we get a doji on the 2 day chart that shows a massive "volume hammer" signal not seen since 2019, 5 years ago. This signals that we are on the verge of a large sustained move. Again, because we've been in a bull market, and there aren't any very strong signs that it is over, we suspect that the large sustained move will be to the upside, because of the signal. If the price breaks down out of the channel, then we'll be in for a nice downward ride. Until that happens, though, we're bullish as we approach the all-time high again, and all the way to the $630-$650 range.
AMEX:SPYLong
by mwrightinc
2
Advantages of Haiken Ashi over traditional candles [CRYPTO]Haiken Ashi candles are a very popular type of charts used in Forex trading. Unlike traditional Japanese candles, the Haiken Ashi chart uses a special algorithm to process the price data, which makes it easier to read trends and market direction. Benefits: What are the benefits of using Haiken Ashi candles? First of all, such charts allow us to detect market trends more clearly and easily read. In addition, Haiken Ashi charts allow us to more easily determine entry and exit points of positions, as well as determine stop loss and take profit. Construction of Haiken Ashi candles: Let's start by defining what Haiken Ashi candles actually are. These candles differ from traditional Japanese candles in many ways. First of all, in Haiken Ashi charts, the opening price of each new candle is the average of the opening and closing prices of the previous candle. The closing price, on the other hand, is the average of four values: the opening price, the closing price, the highest price and the lowest price. As a result, the opening and closing price of subsequent candles lags behind traditional Japanese candles. Advantages of Haiken Ashi: How can we use Haiken Ashi candles in Forex trading? First of all, it allows us to detect market trends more clearly and easily read. As a result, we can more easily determine entry and exit points for positions, and determine stop loss and take profit. Strategies: Trend strategy - involves using Haiken Ashi candles to identify market trends. For an uptrend, we wait for a series of green candles to appear, while for a downtrend, we wait for a series of red candles to appear. Once the trend is identified, we can open a position according to its direction. Double candlestick strategy - involves waiting for the occurrence of two consecutive Haiken Ashi candles of opposite colors. When a red candle is followed by a green candle, this is a buy signal. On the other hand, when a green candle is followed by a red candle, it is a sell signal. Inner candle strategy - involves waiting for the appearance of the Haiken Ashi candle, the body of which is completely contained in the body of the previous candle. When such a situation occurs, we can open a position according to the direction of the trend. Reversal candle strategy - consists in waiting for the appearance of a long red candle after a series of green candles or a long green candle after a series of red candles. The appearance of such a candle may indicate a reversal of the trend, which gives a signal to open a position against the existing trend. In conclusion, Haiken Ashi candles are a tool that can be very useful in Forex technical analysis. With this tool, we can more easily detect market trends, determine entry points. On the other hand, Haiken Ashi candles are an addition to a set of various indicators for technical analysis. In our Manticore Invesmtents Scalping strategy, we combine Haiken Ashi candles with a strategy based on RSI and Bollinger Bands. In the next parts of the tutorials, let's describe the use of RSI and BB.
BITSTAMP:BTCUSDEducation
by Manticore_Investments
📊 Candlestick CheatsheetCandlestick charts are commonly used in trading to analyze market trends and make trading decisions. Candlesticks can be categorized as bullish or bearish, depending on whether the price has increased or decreased over a given period. It is important to note that while candlestick patterns can be useful in predicting market movements, they should not be used in isolation, and other indicators and analysis should also be considered. It is also important to have a clear understanding of the market and its underlying fundamentals before making any trading decisions. 🔹 Rails The rails pattern is a two-candlestick pattern that typically occurs during a downtrend. The first candle is a long red candle, followed by a long green candle that opens below the previous day's close but closes above it, creating a rail-like pattern. 🔹 Three White Soldiers The three white soldiers pattern is a bullish pattern that consists of three consecutive long green candles with small or no wicks. It typically occurs after a downtrend and suggests a reversal in the market's direction. 🔹 Three Black Crows The three black crows pattern is a bearish pattern that consists of three consecutive long red candles with small or no wicks. It typically occurs after an uptrend and suggests a reversal in the market's direction. 🔹 Mat Hold The mat hold pattern is a five-candlestick pattern that occurs during a bullish trend. It consists of a long green candle, followed by three small candles with lower highs and higher lows, and ending with another long green candle. 🔹 Pinbar The pinbar pattern is a single candlestick pattern that has a long tail or wick and a small body. The tail should be at least two times the length of the body. The pattern suggests a reversal in the market's direction. 🔹 Engulfing The engulfing pattern is a two-candlestick pattern that occurs when the second candle's body completely engulfs the previous candle's body. A bullish engulfing pattern occurs during a downtrend and suggests a reversal in the market's direction, while a bearish engulfing pattern occurs during an uptrend and suggests a reversal in the market's direction. 🔹 Morning Star The morning star pattern is a three-candlestick pattern that typically occurs after a downtrend. It consists of a long red candle, a small candle, and a long green candle, with the small candle gapping down from the previous day's close. The pattern suggests a reversal in the market's direction. 🔹 Evening Star The evening star pattern is the opposite of the morning star pattern and typically occurs after an uptrend. It consists of a long green candle, a small candle, and a long red candle, with the small candle gapping up from the previous day's close. The pattern suggests a reversal in the market's direction. 👤 @algobuddy 📅 Daily Ideas about market update, psychology & indicators ❤️ If you appreciate our work, please like, comment and follow ❤️
Education
by QuantVue
5
CAT Short - Caterpillar, Inc. - The Double Top DropNYSE:CAT Short - Caterpillar, Inc. - The Double Top Drop This short biased thesis is based on the following factors: A double top that was recently formed and confirmed A Bearish Three Black Crows candle stick pattern followed the second top (of the double top) A large series of dark pool prints totaling around $882M came in on June 25th, all around the $216.31 price level. Although we do not know the nature of this trade, we are currently trading under this level and continued downside price action will further increased the probability that this trade was a sell. Possible Threats: The $212.62 fib defined level may show support where price action may struggle or bounce from. Short term tactical sentiment for XLI is starting to recover from a bearish downtrend and may show upward momentum from here that could lift CAT up enough to hit the Stop Loss. That nature of the large dark pool trades are unknown and can only be inferred. The June 29 Bar is being used to define the following trade parameters: Short Entry: $214.58 Stop Loss: $218.71 Possible Targets: $207 - First meaningful fib level $200.17 - A previous trend high that was used as a fib definition point $197 - Based on a fib level that has show to have acted as reasonable resistance and support $190 - Based on the rounding to a whole number on the closest fib level Other targets can be based on the fib levels show in the chart or by drawing support lines This thesis/idea is just my opinion based on the information discussed within. None of it should be looked as a recommendation or as financial advice. NYSE:CAT Daily Chart NYSE:CAT Weekly Chart
NYSE:CATShort
by Rhythmic
1
Short term reversal, Shooting Star, for the S&P 500?The SPX shows a “Shooting Star” candle pattern. The shooting star candle is much like the “Inverted Hammer” but it comes after a move up in price. 
This is a bearish candle for many reasons. - After shooting higher, the bears were able to drive price all the way back below the open, near the low. - Long wicks above the real body in candle charting therefore represent selling pressure. - The close was near the open, creating a small real body. - Small real bodies in candle charting represent indecision, uncertainty. This uncertain pause coming after a move up is not good for the bulls. Adding weight to this perspective is that this candle pattern is formed at resistance of prior highs. When there are a confluence of events lining up then it allows an investor to have more confidence in the idea. Also, interesting to note that the other major U.S. Indices are showing bearish candles. The Dow Jones Industrial is showing a similar candle to this, albeit just above prior highs, and the Nasdaq Composite is showing a “Bearish Engulfing” pattern.
SP:SPXShort
by GoNoGoCharts
forexTrdr XAUUSD SHORT GOLD ON SHORT TIME FRAMEMorning again traders, Looking at a short term trade on Gold versus US dollar after formation of a bearish candle pattern on the 2 hourly Advance and a Bearish Harami on the 4 hourly both of which point to price action moving lower over the remainder of today. Looking for a move back down to support levels around 1389 over the coming hours as per our hourly trading view chart work. Follow us on tradingview under forexTrdr to get our sample ideas free and immediately - its free to setup a profile and the charting tools and software is easier to use than Metatrader and most broker platforms. Good luck trading from the Team at forexTrdr find us on instagram, twitter and Alexa flash briefings
FX:XAUUSDShort
by forexTrdr
XRP/BTC - I'm think bears are winning at the moment! I just realized i had not done an XRP/BTC video for over a week, so here it is. I have to be honest... I want to see a bull run, but i'm thinking the bears are winning at the moment. The 12000 satoshi area seems to be doing a very good job at keeping price action down. I think we see 10,000- 9,500 satoshis before we see a break of 12000. I hope you enjoy the video... give me a like and leave a comment with your opinion!
Short
by Crypto_Sid
1