#BANKNIFTY Range MomentNSE:BANKNIFTY
in a small range. If break resistance. Target would be 40350. If break support, then small target would be of 40525 only.
Note: This is my personal view, only for learners
Indextrading
qqe and sss are long but there is some doubtwe can look at signals all day and say theyre bullish, but the reality is that they are only bullish until they're not. this means thatwhen facts change you have to change the trade to meet the trend. i would trade a break of this pivot as bullish, and staying below it as bearish. we could follow the green or red path. sell if qqe or sss go red.
what does a break of 4000 mean for the s&p?nothing, or little to nothing can bedrawn from just the break of 4000 alone. 4000 is a psychological level thathasnt been visited for any great length of time since the first time we saw that level. if we get back above this sss supply zone were headed for the pivot, and if we fade out of that zone were headed for lower horizontals.
need green sss for long term buy nasdaqrecent data suggesting the bottom is probably not in for the nasdaq means we need to see sss signal green on the monthly and cross above pivot for upper horizontals to be in play. till then were not averse to lower horizontals, or even touching the sss supply zone. qqe going long monthly would mean a long term entry averaging up into nasdaq funds would be profitable.
hard turn up for vixes1! puts have been lining up for a pump in vx1! and this is captured in uvxy hourly as a bullish engulfing in reversal in red territory sss candles. as long as we hold hourly lows vix and we cross above pivot turning sss signal green and printing a qqe long upper horizontals are in play.
what if we distribute further in major indices?spx is in a correction wave of a terminal thrust distributively, and if we sink we distribute further. the .382, tram, and sss ma are levels of resistance and .618 and lower anchored vwap band are levels of support, .5 and nearby levels are pivot, but we may trend much lower in major indices. there are still bullish scenarios marked out and fib retrace levels are a guide as well as sss signal and qqe entries.
we should get ready for either 20 or 30 vixi think the hourly spike in vix is over, but the 4hr might be in for some additional waves, followed by a daily bear in vix with a weekly bull trend still on. the road to 20 seems locked in, but were not averse to 30 in the mean time.
vix spike losing steameverybody was ready for a spike in vix, and now that we got it UVXY looks like it might turn SSS signal red as it has fallen below sinking TRAMA hourly. horizontals mark out short, long and pivot and ive drawn a couple scenarios. i only long UVXY when qqe and sss are green.
we are plotting a larger volume of a smaller movesideways trading is more than likely the norm until further notice daily, and ive marked out the rangebound timezone cycle as well as kept the swing target low and pivot.
its pretty obvious the fed seems determined to tank this markettechnology is not playing the feds game, and they are rubbing elbows with china especially where semiconductors are concerned. the dollar is the worlds reserve currency, and big corporations dont like a populace with buying power. the job of the reserve banks is to assist borrowers while preserving the lenders capacity, and with this particular administration volatility seems to be the most profitable route. this means one thing. the bear market rally everyone feared is here. im predicting a dead cat bounce followed by continued downside.
rangebound trading cant last bear flag or breakoutprice action daily nasdaq is ranging around the lows with the bounce not escaping vertical gravity, and the candlestick pattern forming either a bear flag or a bullish reversal. if we cross above pivot im looking at upper horizontals as resistance, and if we cross below it im looking at lower horizontals as support.
DAX Germany 30 Hello Traders,
DAX Germany's index reacted at 0.5-0.618 % Fibo's reatracement.
Target 13350.
RSI is rising after a dump to oversold.
i think put/call has peakedthis is another reason to think maybe there is some rebound in the works in index futures. puts have let off steam, and the general direction at this peak level is calls to return for indices futures.
i do think the vix is going to bounce, but not yeti think the vix will have to sink before it gets the rebound that it seems destined for. ive marked out a couple scenarios. if we climb above pivot i would look for upper horizontals and one of the green scenarios yo play out. if we remain beneath it id look for one of the red scenarios and lower horizontals.
a few different scenarios for emini nasdaq front monthif we enter this sss suply zone and bounce we may have one of the green scenarios play out. if we fall beneath it and start confirming a lower high on some resistance beneath it we could be headed for one ofthe red scenarios. below pivot im looking at lower horizontals and above it im looking for higher lines.
Nifty level tomorrow We see today a good buy in nifty if we calculate total move of nifty thn nifty can move more thn 300 points today now what for Tomorrow?? We see today close of nifty was below 17597 (17577) we make our Tomorrow view was bearish due to closing now we are bullish in nifty / buy nifty above 17597 bcs if it break this level thn it make a good bullish head &shoulder after that our target 17635 17691 17744
Sl 17575
Sell nifty below 17559
Target 17520 17490 17455
Sl 17600
See our view was bearish for opening bcz of closing if it crossed the level of 17597 thn we are bullish but before that we are bearish
not all is woe for the s&plooks like we may touch that sss moving average, and then revisit trama. if we remain beneath this pivot i think the supports marked out are in play, and if we climb back above it the upper resistances are targets. we are inside the bar enough that a bounce could lead to bullish action, but still hanging low enough that if we break the previous sessions lows its hard to find an area that stops the bleeding.
i think this is a serious bottom in vixwe should visit SSS signal briefly, and then double bottom in vix. after that id imagine we have another quick ride up. uvxy often makes bottoms on the daily this way. upper horizontals if we stay over pivot, lower horizontals if we remain below.
playing a dangerous game with vixthe vix, vx1! and s&p500 volatility index is making its rounds around a pivot price. if we cross above that and trama i would look for a test of sss moving average and upperhorizontals. if we staybeneath pivot and trama i wouldlook for continued weakness and lower horizontals. uvxy is the instrument to play.
is this daily rejection from resistance or a bear trap?SPY and emini es1! futures have signaled the start of daily consolidation for the S&P500, and a rejection from the monthly trendline. this idea is simple. if we confirm a lower monthly high, and the beginning of a reversal by remaining below the pivot i would aim for sss supports and lower horizontals. if we remain rangebound, and break out above pivot i would aim for upper horizontals. this resistance is stiff, and it would not be surprising to see SPXL a good 4-8% lower here. im tracking the underlying index with SPY, but the instrument i would use is SPXL. if we gap up id wager intraday turns bearish, and if we gap down i would look to close that gap with bearish activity to follow.
SPX Daily TA Neutral BullishSPXUSD Daily neutral with a bullish bias. Recommended ratio: 55% SPX, 45% Cash.
* The Fed Minutes confirmed preexisting knowledge that inflation is still the primary concern for the economy (making this release a low impact event) and that more downsizing of the Fed balance sheet + another 50bps is the baseline scenario for the next FOMC meeting on 09/21. Fed Staff (FOMC) agreed that 3.4% is the current peak target rate for FFR, the current range is 2.25%-2.5% implying that perhaps two 25bp rate hikes will follow September's anticipated 50bps hike to end the year. Some participants (Fed members) commented on how commodities (primarily energy and food) are likely to keep inflation up in the near term, some Participants mentioned that the policy adjustments are already seeing a substantial effect but almost all agreed that most of the effects haven't been felt yet, and most participants agreed that they support rate hikes until PCE is closer to the 2% long-run target. July US Retail Sales stayed roughly the same as in June and posted ~0% change compared to estimates of 0.1% (sales are still up 9.2% from July 2021), this surprised many analysts who expected more spending with the recent significant reduction in gas prices. Key Upcoming Dates: S&P US August PMI at 945am EST on 08/23; US Q2 Final GDP Estimate at 830am EST 08/25; US July PCE at 830am EST 08/26; UofM Final August Sentiment Survey Index at 10am EST 08/26; Jackson Hole Economic Symposium on 08/25-08/27.*
Price is currently testing $4254 minor support after being rejected by the upper trendline of the descending channel from November 2021 + the 50 MA at ~$4325. Volume remains consistently Moderate and broke a three day streak of buyer dominance with a seller dominated close in today's session; this was a capitulation type of initial reaction which is indicative of a critical resistance. Parabolic SAR flips bearish at $4220, this margin is bearish. RSI is currently testing 68.42 support after forming a soft peak at 73. Stochastic is bearish and currently trending down at 87; it remains in the 'bullish autobahn zone' which is mildly bullish at the moment. MACD remains bullish but is beginning to trend sideways as it forms a soft peak just above the ATH (91.78) at 93.54; it has been bullish for 54 days now, implying that perhaps this is more than just a bear market rally. ADX is currently trending up at 31 as Price continues to push higher, this is bullish at the moment.
If Price is able to bounce here at $4254 minor support then it will likely retest the upper trendline of the descending channel from November 2021 + the 50 MA at ~$4300 as resistance . However, if Price loses $4254 minor support , it will likely retest $4175 support before potentially retesting the uptrend line from 06/16 at ~$4k psychological support. Mental Stop Loss: (one close below) $4226.
looks like were headed for consolidation in SPXweve had a big runup to major resistance, and were inside that sss supply zone below a pivot marked out by the dotted line. if we stay beneath that area treating it as resistance i would aim for the lower horizontals looking to retest the sss moving average or signal. if we breech that resistance to the upside i would aim for the upper horizontals. most likely scenario is a move up to close the gap in the underlying index, or at least some bounce followed by continued downside and consolidation.
US30 ShortThis is what i'll be watching for on US30. 15min RSI Divergence to form, then a huge drop to follow. Atleast a 1:12 trade here coming up.
