4H CHART EXPLANATION: Main Items we Observe on the Chart: -Price broke out the bearish channel, starting a bullish movement. -Currently, the price is inside a corrective structure and is trying to break out with low volume. -The las support of the price is the middle trendline of the weekly ascending channel. Based on this if the price breaks out below 2834.0...
Today we look to want a down move, so on open will see if we get a move up for a bit of balance or a opening impulse down move. depends on this ope will be how I play the trade. the down side target for SPX is 2822 if not further, and in the event we hang out very long above 2856 then will look for upper targets of 68 and 76. How i play the bounce or the...
Neutral Call - Feels like a choppy week. A short trade possible if we get to the $2911 Gravity Point.
over night down moved to a support area if a balanced way so no real opening direction to burn off. so will be looking at my over under areas the same as yesterday and in between those lines will be chop zone. Moving above the over line 2900 is a good target and below the under line 30-32 is acceptable but for a Friday both these targets might be a bit too...
On today’s post, we are going to have a look over the last 16 days when the SP500 started a bearish movement. going from 2961,5 to 2799.0 (-5,44%) - We can see that the bearish channel that works as the main trend was broken yesterday starting a corrective structure that now is facing a major resistance zone - That zone is composed by the previous ascending...
today would think on open a move down in between the over under lines and then 2 possible ideas, 1) a move back up to go try and find some open gaps above. and 2nd a move below 51(spx) to look for the lower marked areas.
USA vs China -Trade War between those two country’s has shown how the markets react on a Negative way to this kind of events. -Since May 1, Sp500 futures have been falling 5% from Historical Higher highs due to conflicts with China, however, China Index has been on a bearish movement since 17th of April accumulating a bearish move of -10,21%, more than twice...
with the premarket drop I would think we open with a shortable bounce, maybe up to the 2827 area, and then we should test the resent lows and possibly below. a bounce above the 27 area we then likely see yesterdays high again. will watch how things open and then look for trades after the open reaction takes place.
The Emini reversed down from a failed breakout of the all time high, and nested wedge reversal. There are trapped bulls who bought the May 3rd high who want out. Most bulls used the new high to take profits as the market is likely to transition into a trading range over the next few months or even years. However this does not mean the bulls will not get another...
today will be watching the 2833 and the 2800 areas, using about a 2 point thick line, between these line would be trading the back and forth. Above will look long and below short. Contact me for more details as the day progresses
TLRY has formed a second entry for a parabolic wedge bull flag and larger high 2, although a doji bar. If the bulls are unable to regain control soon - something is wrong with the bull trend premise. If the bulls do not return within the next few weeks, prices are more likely to be in a trading range and will likely test the tight trading range of the open...
Big down move that I think will keep going, but would look for 2 things on open a failed gap close bounce to get short or a impulse down with no up move at all. down side targets that if do not hold will at least cause pause of 2013 and 2792 in spx. add 2 points for ES numbers. in the event they do take it up i will not be leaning long until we trade over 2842...
Expecting a bit of a relief rally early in the week. My standard deviation trendline broke the 3rd SD last week, first time since we bottomed. So I recreated it for the new hypothetical downtrend. It's most useful for an established trend and right now I need more weeks of data before I feel confident in this. $55.5 expected move is large. Busy chart, forgive...
Overnight price action was within yesterday’s value area. Overnight high tested Wednesday’s VPOC and price came down and has taken out Asian low. With overnight VPOC just above yesterday’s. Economic figures out earlier were worse than expected, however had little effect on price. The main driver is the US-China trade decision. All things being equal price is...
Today we are over night in a big range but basically in the same chop zone as yesterday. Today the chop zone will mark the break out zone to the top side but not the bottom side, trading to the bottom break zone will give a nice big trading range so will be looking for bounces in that area, and strong shorts below. This news driven market could take on a up...
I might be posting a bit early to get the way we open correct but will post my thoughts anyway. on the bell we could get a bit of buying up the 2865 and then will be looking for a further drop as first idea, down to many lower targets starting at 2838. Will be watching for a couple of ways to enter this short based on how it looks on open. any bounce getting...
Normally, this is a bullish pattern. The bottom support line is key, so long as we do not break below it, the bias remains long. However, do note that if the support breaks decisively, I expect a waterfall of selling to take place as longs who are betting on the same thing as aforementioned will be rushing for the exits,