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CHOP

Welcome to the Chop Shop4100 seems to be the price area where the market is in equilibrium. Still some downside to 4000 in my opinion. Some chop around 4100 while market consolidates the recent Rally. 0.618 retracement to the downside may find support. On the other hand, markets may try to close the gap at 4220 before the end of the week. Either direction seems like a lot of chop. TSLA is quietly trying to hold up markets as an ascending triangle forms as the split on 25th closes in. Energy is blasting off, if only to hang itself in the future. Inflation is not being kind to HD joining the club of H&S patterns forming. DXY double top could mean revert.
SP:SPX
by SPYvsGME
9
BTC: Surviving the Chop! / Visual MapMorning/Evening all! BTC has entered a very choppy range, which means the price moves in a tight range bouncing between many levels chopping positions of all market participants, shorts and longs alike. In this picture I have marked and mapped the choppy areas as well as the zones that should be considered Resistance and Support. There are two ways to use this chart depending on what you are looking for: A) SWING TRADING THE TREND If you have entries in the green (support) zone and you want to catch bigger moves then hold your positions until price goes into the red (resistance zone). If this happens pay attention to momentum. If the momentum is strong you might want to keep your positions and let the price pump higher (which means you will be looking at taking profit around 25-28k area). Ignore the chop zone completely. It's there to make you let go of your positions, lose money or both. B) SCALPING If you are interested in scalping every move then the orange (chop) zone is your bread and butter. You try to get entries at the lowest parts of this range and take profit at the highest parts of this range. Taking smaller scalps for example from the mid of that range (~20.8) to the top of the range still works but your R/R is much different. Proceed with caution. Have very tight stop losses. Look for any signs that might show you that we're about to break out of the chop zone and protect yourself if you are in an opposite trade. Last but not least: -- All lines should be considered approximates. This means you have to check for previous candle bodies near these lines to find the exact "mini-range" that each line belongs to. -- Blue/Red boxes (frames) are put/ask areas. They are areas where price previously found either mostly sellers or mostly buyers, therefore, the volume profile has a gap too (possible support/resistance areas) It's highly likely that we will enter an "Inside Week" structure which means I wouldn't be surprised if these ranges play out for a couple of more weeks. So, what's an "Inside Week" anyway? I will make another post about it and explain in detail. Stay tuned!!
FTX:BTCUSD
by Athantonios
2
Copper with the Master Chef. All about the angles.If you are sitting in front of your computer screen, looking at charts, and asking yourself enough times... "how can I make money out of this?" ... this is what you're eventually going to be doing. Make these drawings enough times and you should not only expect to make money, but you should be annoyed if you aren't. Don't let anybody else tell you what's right and what's wrong. Look at the charts, make your own decision, then let the markets tell you if you've cracked the code. If I was like all the other bloodsuckers, I would charge you thousands for this diagram. I should sell this as an NFT for 15$ million. It's worth far more in the right hands. If I'm a parasite, I'm the most mutually beneficial parasite you've ever been lucky enough to stumble across. Asking nothing, giving everything. I guess that's it.
COMEX:HGK2021Education
by emehoke
AMD update: potential path based on technical analysisNo death cross on the daily chart. The stock has significant support at the $73.90 level. Most recent resistance at the $87.10 level. 4H Chart Looking Bearish Short-term but on the verge of a reversal back into bullish sentiment. We'll see how this plays out with stimulus just being announced with the backdrop of a global semiconductor shortage. It could be choppy, be careful. There could be some chop while the chip shortage is resolved and the tech sell-off finishes, but this should be a good medium-term trade/investment to start building a position in. Buy under $80. Price Target $100-115 Stop Loss $70.
NASDAQ:AMDLong
by EBITDAtiger
2
Nasdaq correction looks to be overFor this post, I will use NDX & Nasdaq interchangeably. For those of you not as familiar with the index, you may be more familiar with the ETF QQQ, which tracks the Nasdaq or NDX. The NDX correction looks to be over. A bottom was created partially when Cathie Wood's set a floor by coming into the market guns blazing loading up on some of the riskiest, highest-flying names in the Nasdaq. A churn from growth to value has been underway and should continue as rates rise. Nasdaq has far outperformed the other 2 major indices so I expect it to trade somewhat sideways for a period of time. Moving averages maintained in the 2H chart, no bearish crosses, and the NDX has already started to bounce back. Look for quality in times like these and other ways to generate returns. Some factors to look for are: 1. a P/E ratio below 17x; meaning it is not too overvalued. 2. a solid balance sheet with positive cash flow 3. a dividend yield (if #2 is achieved, dividend yield should be safe with potential raises and share buybacks) 4. a quick ratio at least above 1.0. (this defines financial health & ability to deal with debts) the higher the better. 5. solid trends in earnings beats
TVC:NDQ
by EBITDAtiger
4
BTC idea for yesterdayAs i mentioned we retest ~10540$ support line, but.. that was pretty interesting, we printed one day candle with 2 weaks close to perfectly between lvl ~10540$ and ~12150$. (For me next price channel-white lines) , and the price will deal with it. Next move will propably test ~10.950 (22:35, im late? yeah im late) because RSI have downward position from overvalued zone (70), CHOP index confirming the energy to next move. Week time frame looks similliar high RSI +exhausting CHOP FROM (~48pts.) Next strong move can be to 10,540. If we hold it, im bulish to retest 12,150 - if not, retest 10,114 fibo or even 9,600$ (im trying to dont look at CME gap, because last from august 19' (4h) was closed one year later. Critical point for me is in area when 50 ma and purple line (from last highs). it could be agrressive bounce back, but all of this must be confirmed with others signals. If we pass and close daily chart under 10.540. Next price channel will be between 10.540 and ~9600, but if we still can print higher lows on lower time frame, more probability for movement up than down. Im not bewaring weaks, beacause im hodl. it is not an advice, time to gather some history..), as some good trader told me, RSI is lagging indicator so its only an idea to refill each other
COINBASE:BTCUSDShort
by NightTerm
BTC Trapped - Where's Next? $9500 or $10,200Being caught in a range isn't always a bad thing, especially when you can trade top to bottom and back again! Bitcoin looks like it'll be caught between $9500 and $10,200 for another couple of days, with a breakout indicating a move of at least a few hundred more dollars in the given direction. Get your Long order in at the low end of this range, ready to take profit at either $10,000 or $10,200 - depending upon your own sentiment and analysis. With the famed Bitcoin halving in just over 3 days, we should be caught ranging up to 12 or 24 hours before the halving event, a pop upward would indicate at least $10,500, breaking above this would be the start of the Bull Run 2020. Don't say we didn't tell you! Good Luck & Happy Trading! theCrypster
KRAKEN:BTCUSD
by theCrypster
Bitcoin 1D - Break Upwards? Maybe Not...Seen from this angle it would appear the price of BTCUSD is currently stuck ranging between a high of $9200 and a low of way way down @ $8000! Don't take this the wrong way, we're as optimistic as the rest regarding the upcoming halving; but looking at this there would appear to be a clear range that (unless a big Breakout occurs) could drive the price all the way down to $8k. That's quite a big drop from where we currently are, and also where we want to be! Although, this could represent an excellent opportunity... ----------- Good Luck & Happy Trading -theCrypster
KRAKEN:BTCUSD
by theCrypster
ETH Stuck until Bitcoin's HalvingGiven the volatility of the past few weeks you might imagine this uncertainty to continue, our current thinking is that ETH will be ranging between $170-190 for the next couple of weeks until early/mid May (Bitcoin's Third Halving). There may not be an immediate explosion there after, it may take some time to build momentum, but ETH, along with a host of alt-coins, is going to get swept upwards with Bitcoin sometime very soon. These support/resistance levels have historically been quite strong, but given how tight the space is between them and the current market conditions, we wouldn't be playing the range game here. Don't place your bets just yet, but definitely get your coins ready to go at a moments notice! Expect a pump from $190 in the coming few days!
KRAKEN:ETHUSD
by theCrypster
ROKU price levels to watch as we near a swing setupROKU is putting in lower highs in this chop. But we're nearing a swing setup as we draw closer to $126.71. resistance We'll clean these lines up a bit over the weekend. The first level up that I care about is 136.81, followed by 139.43 area. I think, if we open bullish but don't have news, we'll struggle with $141.05 if we can even get to that level today. support I always watch pre-market low, which for ROKU its $132.30 area, if we lose that I'm watching 131.25 and 129.65. If we are very bearish today I'm watching that $126.71 area for a bounce. If we get as far down as $126.71 area within the next few days, I'll be long for a swing.
NASDAQ:ROKU
by danbeaulieu
3
ROKU - nearing point of control resistanceYesterdays move was bold and quite a bit more powerful than expected. Take a moment to review my chart from yesterday, this boxed in area we're currently creeping into should pose a challenge. resistance We have an unconfirmed trend-line to keep an eye on, I've used a dotted line to signify that this trend does not have 3 touches, so it is not confirmed. We have our volume at price point of control at $145.84 area to watch for, you'd be surprised how frequently price reacts to the point of control (POC). If bulls can push above these levels and push above that $149.51 level, we can find legs to the $155-159 area. support If we either sell off, or reject at one of the above-mentioned levels, watch $144.35, $142.05, $139.43 to hold as support. My sentiment I find it unlikely that we'll have another powerful day like yesterday today. So I'm watching for rejection within the gray box area.
NASDAQ:ROKU
by danbeaulieu
TSLA - hovering below supply levelLet's start by looking at the weekly chart on the right. I drew a red line that I believe marks a 3 year supply line for TSLA. That is, we cannot close above that level on the weekly. I also drew four boxes where TSLA chopped around just below this supply level in the past. So, Elon had his ER pump that shot price to the moon. Then he released his Cybertruck and continuously pumped price with his reservation numbers. So what's next? How does Elon pump price further now that those catalysts are behind him? Two possible negative catalysts may be on the horizon... SEC may (or may not) be looking into the rumors that TSLA cooked their books for ER... take that or leave it. The second possible negative catalyst is Elon pumping the pre-orders numbers. Elon is on thin ice with the SEC and this may be go against his agreements with the SEC. Long term outlook.... I love Tesla , but I'm bearish on the chart long-term. Until we close over that magenta line, or deviate away from that level into the 200s. Thats my projection. However, for shorter swings we may have some upside ahead of us. If you look at the daily chart on the left, we're holding the 23.6% retracement on lower volume. I'd want to see a higher low off this level before taking interest in a bullish play. if we start closing below this $327 - $325 area, I'd wait for a deeper pullback into the low ~305-308 area. For scalpers, the range hasn't been there these past few session, but it was a holiday week, so lets see what this week brings.
NASDAQ:TSLA
by danbeaulieu
DIS - post ER chopPrior to ER bulls were gaining a footing with a higher low on the daily chart. ER slammed price into the supply zone which promptly smacked price down (The supply zone is outlined in white). Its hard to determine what the likely price direction is after a catalyst so I'll provide some thoughts for both the bulls and bears. Bears, I'd wait for multiple closes below $136.74 before entering short. Be patient. Bulls, that supply zone is going to continue to cause trouble in a weak market. Scalpers can enter near $136.74 but be ready to stop if buyers fail to show up, watch for resistance at $140.22 though. If we don't open below $136.74, I feel like we will chop sideways while the market chooses a direction.
NYSE:DIS
by danbeaulieu