Just look at this beautiful chart.
I see massive bullish potential. A lot of profit potential. A lot of open interest on some of the calls. It is looking like a reversal on the weekly and daily chart. Beautiful setup.
Charting
spx I remember when i used to agree that T/A and charting didn't really matter vs narratives and market manipulation etc.
Well, that was before I lost a ton of $ trading crypto without it. Then I became OBSESSED with learning it.
It's not the cleanest and I'm still working on my skills etc.
However, I totally believe in it now.
It continues to amaze me daily with placing lines on charts BEFORE the candles come and watch them interact and not just on horizontal main numbers.
I find that diagonals with good T/A and time spent prior. You can almost feel like you set the course for the markets/design their track for the day lol.
Neutral on IBM. Looking more bearish.
As you can see here we are at a demand zone. But, we are consolidating at this zone and that usually means we break through the zone. If we bounce off of the zone, I will look for it to retest the recent trendline that we have just broken. But, if we break through the zone, I will be looking for the stock to fall all the way down to the bottom Bollinger Band on the weekly chart. The P/E ratio is at 65 which is very high so I am leaning more bearish. Also, the market as a whole has an extreme fear index which could also signal a bearish ride for this stock. On the weekly chart, we were over-extended from the top Bollinger Band and have been red the last two weeks so I do look for this downtrend to continue. If we fall, this could be a money-making monster for a couple months out put and I feel we have more room to go down then up. My overall opinion is that we might go up in the short-term but the long term we could be headed for a landslide to the downside.
Disney $Dis #Dis DisneyHere is an even more aggressive and dramatic downward channel idea and still I say we are at least due for a decent bounce. Especially if trading options etc.
Just a tighter trendline down and lower top goal then prior chart given.
I see some BEARS come out and wanted to give and even more Bearish idea and view, but still not ready to focus on SUB $78 support.
We trade the charts until they give us something else to focus on for the trade.
📈 Charting Lesson: What do I even look for in a chart?!Full-time trader here. Sharing some knowledge for free . If this helps you, show some love: follow me for more and like this idea. 👍
Why do I need a chart anyway?
First, we need to convince you of why you need a chart. No problem. Let's say you're a fundamental analysis investor. The stock has to make sense. The stock has to last forever. It needs to be a growth stock. Let's say... NASDAQ:AAPL NASDAQ:GOOG NASDAQ:NVDA NASDAQ:TSLA is a good example over the last few years. Now that you found a good candidate, when are you going to buy? At an all-time high? At an all-time low? One share a day? One share a week? No. Buying a stock without looking at the chart is like driving with a blindfold. Don't do it.
Pull up a chart.
Observe past price action.
Try to find a trend.
Plan your entry.
Do this even if you're going to hold for 20 years.
When I pull up a chart, what do I look for? I just see a bunch of lines.
Let's first make sure you are looking at the correct view. On the top left corner of your screen, you'll see your user icon. Next to it is the ticker. Next to it is the interval. Next to THAT is the chart type. Make sure you select "CANDLES". Not "hollow candles". Here's how it should look:
Mine may look a bit different because I changed my theme. But the candles is what we care about.
Now the juicy part.
Support and Resistance are Key Reversal Levels.
When you open a chart, the first thing you want to do is look for areas where the price has reached in the past and reversed or got rejected or bounced. For example, every time SPY reached 443.37 in the chart above, it reversed. Let's call this a, "key level".
If the price is ABOVE that key level, the line is called SUPPORT.
If the price is BELOW that key level, the line is called RESISTANCE.
Using the horizontal line tool, make sure you have these key support and resistance levels on your chart. Try to ONLY buy near support and sell near resistance.
If the stock is choppy, do your best. If you can't, skip it and go to another stock. There's thousands!
Stocks, Currencies, and Cryptos Move in Trends. Up or Down.
Next, try to find a "trend". A trend is something where if you connect the dots, the price jumps right from that straight line.
Pull out your trendline tool and try to connect some dots. Don't go through any candle bodies. Going through wicks is okay. It's actually recommended.
Three touches are required to make a valid trendline. If you see only TWO touches? Is the price going TOWARDS the trendline if you were to extend it? There's a good chance it's going to head towards that TL and bounce! Good job. You found a good trade potential.
Identify Reversal or Continuation Patterns.
Look for known patterns. In the example above, there is a "head and shoulders" pattern. This is a bearish reversal pattern.
Know that not all patterns will come true.
It's good to know the overall signal the market is giving.
If every trader sees it, it's likely not going to happen.
In the above example, a looming H/S pattern is scary given already bad economic conditions and recession/ inflation worries. In this case, the market may be trying to tell you something.
Understand that these patterns are not just nice-looking drawings on a chart. They work because they display some sort of buyer/ seller psychology.
I will post more examples of known patterns on my TradingView profile soon. Be sure to follow if you want to learn more.
If you benefitted from this, you are welcome to follow me, comment any questions, or share this with your friends. Good knowledge should be free. I'll post more insight soon. Thank you for reading and for your continued support. 👍
SPX Weekly TA SPX - Weekly Chart TA, Sunday, September 24th, 2023
Based on the 3 major time fibs, I am looking for a major trend into October 18th-Nov 8th period.
The 2022 High/Low time fib 2.0 was one day off from the 2023 high.
(Progress/Stalemate over the Government Shutdown can affect that thesis of timing)
Longs:
Last week's selloff left a gap above at 4401 -
Bulls want to regain the 100 day SMA. That would be the main target for a short term bounce, with the gap fill and then a test of the falling 50 day SMA. That would put us back in the value area from the July highs, and the VAH from the March lows to that same July high. Current reading is oversold on the daily, so a ST bounce is expected.
Gravity Points are stacked in the HTF Supply zone, so major resistance for LT Bulls to get through.
Shorts:
Any bounce this week will be met with bears trying to STR. They will want to see the 100 day SMA act as resistance, and will likely see more shorts step in at the gap fill & the 4000 Psych level. A failure to regain those levels should be met with increase selling and a drop below the 4300 level.
If Bears can flip the 4300 into resistance, the move to the May gap fill (4232) should be swift. I would look for Shorts to then peal positions in the HTF Demand zone from 4232 to the .382 H/L fib at 4180. The 200 day SMA is sitting in the demand zone, acting as potential added support.
LONG TERM THESIS: I am expecting the bear pressure to be in control into October. If I had to make a bet, I would look for the higher Demand Zone to be tested shortly, with a test down to the lower HTF Demand zone as a possibility before an EOY rally.
Usd still on the upside...Usd should be still bullish just that do take note it is right now at a key prior Resistance zone.
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Disclaimers:
The analysis shared through this channel are purely for educational and entertainment purposes only. They are by no means professional advice for individual/s to enter trades for investment or trading purposes.
The author/producer of these content shall not and will not be responsible for any form of financial/physical/assets losses incurred from trades executed from the derived conclusion of the individual from these content shared.
Thank you, and please do your due diligence before any putting on any trades!
50 give 80chart, attempting to overcome opposition.
50 served as a resistance level for this stock in 2016–2017, and it also served as a barrier in 2018 and 2021, when attempts to break through were unsuccessful.
completed the 2022 breakout but not maintained at level.
Currently, the level of 50 to 55 is where the stock is trying to breakthrough.
Stock has good news; therefore, buy it above the level of 55 and shoot towards 80.
As support for this stock, 40 to 45
Bitcoin path given BEFORE THE NOISEAs many other larger and far more famous accounts then myself will agree with and tell you.
Show me the charts and ill show you when and WHERE to expect the news.
I gave you what route the charts and the overall macro played out in my mind BEFORE in my eyes.
Learn their ways and the WAY the GAME is PLAYED.
usd likely a bounced off to reverse upwardsAs previously mentioned the USD was at a key S, now it bounced off with higher high, likely bias would be to long on the near term.
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If you like my analysis and it helped you ,do give me a thumbs ups on tradingview! 🙏
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Disclaimers:
The analysis shared through this channel are purely for educational and entertainment purposes only. They are by no means professional advice for individual/s to enter trades for investment or trading purposes.
The author/producer of these content shall not and will not be responsible for any form of financial/physical/assets losses incurred from trades executed from the derived conclusion of the individual from these content shared.
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How I trade the candles. $XOM exampleHow I trade the candles. There is more not mentioned in the video but for the most part these are the basic steps I take 1st before diving into look for more confluences to help me decide during a trade.
AUDJPY - Price is in Ascending Channel on the 4 Hour Time FramePrice is trending upwards making higher highs on the 4hr timeframe. Price is at the lower level of the trend which seems like it has found support to go back up again. Please watch price either make higher highs going back up or breakout of this channel.
Please trade carefully and use your own analysis to learn how to spot trends like this.
Good Luck Trading.
Bitcoin at Massive ResistanceBitcoin price price has trouble breaking through the pink parallels without having to beat on the door a couple times. The longer price has been away from the pink line, the stronger it becomes. Now, it's very strong, and I predict a drop of >10%.
It got through the top pink line in 2021 on it's way HKEX:69 ,000 because of low interest rates, free money, low inflation, institutions starting to add crypto to investors' portfolios, and irrational euphoria from Bitcoiners. Now, people are broke, banks aren't lending, interest rates are infinitely higher (they were 0% then), real inflation is still >10%, and SPP loans and stimmy checks have run out.
If I'm wrong, I'm looking at the two blue lines encapsulating an area of resistance. If this doesn't push Bitcoin down, and it consolidates here, I'm covering my short.
usdsgd a down trend It is down on the daily and h4 timeframe..just look for setup to go short.
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The analysis shared through this channel are purely for educational and entertainment purposes only. They are by no means professional advice for individual/s to enter trades for investment or trading purposes.
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Bias on the upside for GUKeep a look out on h1 etc for turn to go on long etc...pullback for long
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USD could likely continue down...In general i feel USD would be heading down as daily is bearish and on h4 just need to wait for turn.
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Disclaimers:
The analysis shared through this channel are purely for educational and entertainment purposes only. They are by no means professional advice for individual/s to enter trades for investment or trading purposes.
The author/producer of these content shall not and will not be responsible for any form of financial/physical/assets losses incurred from trades executed from the derived conclusion of the individual from these content shared.
Thank you, and please do your due diligence before any putting on any trades!
I DON'T SPYLooking for SPY to test 50% retracement from Covid lows to the highs. will be in the $360 - $350 range. Should support fail there, which I believe is likely, and then be confirmed by volume next target is $317. Ultimately I do not consider it out of the question a possibility of $247
DXY Bullish Idea for next week.4H TF it repriced at D FVG perfect hit, also 4H fvg respected, from now on expecting run up to +OB 📝👀
SQ is headed to the downsideCharting on the daily, I think SQ is in a nice set up for a put play. The downward trend that has been created has been touched twice. At each point of contact there was a follow through of selling pressure. The selling pressure has also caused weakness within the new support area . I am concern about the amount of time it make take for this plan to carryout.
Tesla Chart for the week beginning Feb.27/23This is going to be an emotional week for Tesla Stake Holders and expect some big announcements many of which have already been leaked into the market however I expect EM to pull a rabbit out of his hat to surprise on the day. Investor strength is not very strong right now, in fact pretty indecisive however with some hype I expect a potential pop up to $222 before the stock pulls all the way back down below $200 as April Financials are predetermined to be weak. It'll be in the best interest of institutional traders that plan on Shorting Tesla to let it run through Thursday before putting big pressure late Thursday and Friday am for the Pull back so that they can maximize their Short positions. I will watch closely for the top and sell before the weekend as well. Buy the Rumour and Sell the News.... The low to late April I suspect to be approx. $182
The Basic Of Charting #2 - Moving AveragesWelcome to the Basic Of Trading & Charting series on TradingView. I'm Ares, a crypto-head with plenty of experience in the market. I've made a lot of mistakes at the beginning of my trading career & with my videos, I want to help you avoid these failures. If you have any questions, feel free to leave a comment.
See you in the next one :)
The Basics Of Charting #1 - Secondary TrendsWelcome to the Basic Of Trading & Charting series on TradingView. I'm Ares, a crypto-head with plenty of experience in the market. I've made a lot of mistakes at the beginning of my trading career & with my videos, I want to help you avoid these failures. If you have any questions, feel free to leave a comment.
See you in the next one :)
Outlook through Friday jan 6 - 1 day - SPYThis is more about momentum than exact numbers over the next 2 days.
Tomorrow, the jobless claims and Job Cuts reports come out at 8:30am. Typically this doesn't matter but in the current economic situation we should be seeing some volatility early before market open. I am expecting a slightly positive report because they have been becoming more positive, although shy of targets. The market may pop for the first couple of hours before dying down. People will be selling off tomorrow for the incoming report on Friday.
Before the market opens on Friday the US Employment Situation report comes out. I think this could trigger a bigger sell off because I think the US employment situation is still strong. The FED doesn't have the unemployment where they want it signaling they will probably have to keep raising interest rates.
Feedback is appreciated! Not financial advice
