looking at the market today we see a strong support in the daily candles 14, 15 and 16 of the month. and we are just in that zone. I am personally bearish in the market on the medium & long term but as a intraday trader we get to squeeze more out of the daily moves. entry are in blue. target in green. trade to trade well not to make money.
watching 2 important support areas, live room after open will post my actionable game plan
Looking at the S&P 500 futures chart we may spot a textbook corrective pattern. It is labeled as ABC where wave C is equal to wave A. It is also called one to one pattern. The top of wave C is currently potential strong resistance which could be difficult to break in the near future. If the line drawn through the bottoms is broken we could expect another...
looking like after red zone break we now will move to 2872 for full retrace of the drop. join our private group to get premarket trade plans and market incite.
It already bounced +30% from the low. The situation is still bad, people still in lockdown. A retracement from here is the most optimal for the market if we are still bullish. An overextention of this pump could end in a major crash in the future.
well today see the market in a daily candles and recognising the bounce that started last Friday. we are trading bellow the low of Friday so im inclined to take a short position. there is a good 3+ risk reward ratio. for a entry blue lines and targets in green. very possible little bounce to the upside were people jump the gun and then a move to the...
3/27/20 2 hour chart. Possible resistance and support
9:00 notes for today's trading This option expiry and good chance we do nothing much today at all. With all efforts to hold the market at these levels for the day. the important boundaries are 2850 and 2885 Other than this the action is very bullish, but in that bullishness we can have retraces. and until we get back into prior lower consolidation I lean long,...
Please keep these 2 location in mind 2857 and 2710 as important locations to the bigger picture direction. Above is SPX500 numbers take about 5 points off for ES numbers Day trade updates will follow up about noon, giving my private member first look at this info.
ES is cleanest representation of the market movement. The direction is clear (see PSAR). Much better read than SPY. As mentioned on the chart, we need to see divergence on the RSI as well as bounce below from 200 SMA before shorting this Fed fed zombie. Timing is important. From the way the RSI is rolling, I guess 2-3 weeks for the market to start turning around....
today looks like Es heading for 2632 and or 2622 (ES) as we break yesterdays lower red zone support. will be hard to produce the plan a and b with this solid down move. but a opening bounce then further drop, and or a open down rip are the two idea i am looking at. Live room will get updates as I see them
This has had an excellent run but its time for a little step back, personally I think we could venture down to 2650 but I really cannot see how we could plunge back down to retest lows like others are calling.
Rising wedge supposed to breakdown but let's be honest it ain't going to happen
early Morning post: Today The market over night is long and coming into R so first thought is a move back down to find new buyers and then test R again or break out to posted targets. In the event plan b happens and that is a down move that keeps going there is lots of support areas so this down move could happen fast of become very choppy. The volume on down...
I'm looking to target the bottom of the next swing (about 100-120 points higher than where we are now) on the ES. This is a good place to take some long profits, because it's the bottom of the next swing, and the 0.618 fib retracement of the large move down. After that, we could reject (and move lower) or hold the 0.618 and go test the 0.786 (the top of the swing).
Use this as a guide to develop your view of the chart: Main items we can see on the Daily chart: a) Currently, the price is on a massive Resistance zone b) We can see in the past that every time the price approaches the zone from below, we had a correction there c) The correction can lead to a bearish continuation or a simple correction for a bullish...