S&P500: Channel Up is holding on 4H.The S&P500 maintains its steady uptrend since the October 27th bottom, inside a Channel Up pattern. This (on a projected +7.15% 2nd bullish wave) targets above the R3 July 27th High (TP = 4,650). Being however overbought on the 4H technical outlook (RSI = 70.276, MACD = 22.060, ADX = 31.456), we will be ready to short if the price crosses under the 4H MA50 and target the 4H MA200 (TP = 4,400).
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Indextrading
Nifty 50 Support and Resistance for Today. TrendX Institute. Levels To Watch Today!
- Nifty bounced between 19,666 and 19,800, closing mid-range.
- BankNifty stayed low, closed near the week's low.
- Levels to watch:
- Nifty: 19,666 (critical),
19,590 (support),
19,800 (resistance)
- BankNifty: 43,500 (support),
43,800 (resistance),
43,300 (possible correction)
No stock updates today.
Have a profitable day!❤️
#Nifty #OptionTrading
📉 Nifty 50 Index: Short Opportunity on the HorizonGreetings, fellow traders!
Today, our focus is on the NSE:NIFTY index. Here's the breakdown:
📈 Upward Movement: The index has been on an upward trajectory, recently approaching the 200-day moving average.
🚨 Near Resistance: However, it's currently near a significant resistance level, suggesting potential selling pressure.
💡 Short Selling Opportunity: I'm eyeing a short opportunity in the range of 19,500 to 19,800 for this index.
📉 Option Buying Strategy: For option buyers, consider 19,800PE or 20,000PE strike prices to capitalize on a potential downward move.
📆 Timing: This bearish outlook is anticipated to unfold in the coming days.
📌 Important Note: Trading involves risks. Make sure to conduct your analysis and manage your risk accordingly.
🤔 Your Strategy: What's your take on the Nifty 50 index? Are you aligning with this short opportunity, or do you have a different perspective? Share your insights!
👋 Until Next Time: Thank you for tuning in. Goodbye for now, and see you in the next post.
Best regards,
Alpha Trading Station
UK100: Thoughts and Analysis Today's focus: UK100
Pattern – LH decline
Support – 7375 - 7250
Resistance – 7466 - 7710
Hi, and thanks for checking out today's update. Today, we are looking at the UK100 on the daily chart.
Today's video asks if the UK100 will continue to move lower after setting up a few beach technical signs. What do you think about the reasons presented in today's video update? Are the lower highs after the trend break and failed rally yesterday a new momentum shift to sellers in the short term?
We continue to look at major index influences and watch today's UK GDP. If buyers are able to reverse today's selling and break the 7466 resistance, this will cancel out this sell idea.
Good trading.
S&P500: This is the strongest rally of the year!S&P500 hit our TP = 4,315 (see chart at the bottom) even earlier than we expected and finally turned bullish on its 1D technical outlook (RSI = 56.977, MACD = -34.150, ADX = 40.157). In the process, it broke above the 1D MA50 for the first time since September 15th.
The wider pattern is a Channel Down now. If the price gets rejected inside the pattern. e.g the R1 level (4,400), we will buy on the pullback to the 1D MA200 and the 0.5 Fibonacci level at 4,270. If it crosses over the top of the Channel Down, we will buy on the next 1D MA50 pullback. In both events, the target is the R3 level (TP = 4,600).
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DAX: Approaching the 1D MA50. Buy the pullback.Target achieved on DAX (chart at the end) as the price made a straight rebound at the bottom of the Channel Down. The 1D technical outlook is neutral (RSi = 52.756, MACD = -158.600, ADX = 30.783) and being that close to the 1D MA50 without being bullish already, makes a short term pullback possible. On the long term, we expect a bullish breakout over the Channel Down as the current rally originated after an (almost) one month long 1D RSI Bullish Divergence. So as long as the price gets rejected under the 1D MA50, we will wait for a 4H MA50 pullback to open the new long and target the R1 level (TP = 15,575), a candidate to make contact with the 1D MA200 as well.
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CHINA A50: Bullish signal approaching.The China A50 index reached today the LH trendline of the August 1st top and turned neutral on the 1D technical outlook (RSI = 50.831, MACD = -120.000, ADX = 25.828). The 1D MACD Bullish Cross that was just formed on such a low level, makes the third time this year but we need further confirmation to buy for an extension as the March 23rd Bullish Cross failed to push the index past the 0.382 Fibonacci level.
Consequently, if the price closes a 1D candle over the 0.382 Fibonacci, which at the same time will be a 1D MA50 breakout, we will go long and target the 0.618 Fibonacci level (TP = 12,800), which will be a technical LH of the 10 month Channel Down.
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DOW JONES: Started rising, at least on the short term.Dow Jones went from oversold to neutral on its 4H technical outlook (RSI = 51.457, MACD = -63.520, ADX = 28.038) as the price bottomed on the LL trendline of the three month Channel Down and rebounded straight to the 4H MA50 today. This is the short term Resistance, a closing above it confirms the 2nd part of the rally to the 4H MA200.
The 4H MACD is on the same Double Bullish Cross bottom formation as October 4th. The rally that followed rose by +4.05%. Consequently our bullish target (TP = 33,500) is under a max +4.05% range, as well as the 4H MA200 and the dashed LH trendline.
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NASDAQ Rebounding on the 1D MA200 and targeting 15,000Nasdaq is trading inside a Channel Down since the July High and is naturally on bearish 1D technicals (RSI = 39.169, MACD = -233.06, ADX = 37.454). This is a buy opportunity though as the price is rebounding today after making a LL bottom almost on the 1D MA200. That is a long term Support level, being unbroken since March 13th. The second bottom indication is given by the 1D RSI which hit and bounced from inside the S1 Zone, as both previous bottoms have.
Every rebound rose almost as high as the 0.786 Fibonacci level to make a LH top. Consequently we turn bullish and target that Fib level (TP = 15,000) which is slightly over the 1D MA50.
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NIFTY Shifting to a long term buy.Nifty 50 turned oversold last Thursday on the 1D technical outlook and that attracted investors which restored the timeframe from oversold to just bearish (RSI = 38.950, MACD = -141.600, ADX = 34.223). This shows considerable buying strength, a little over the 1D MA200, a support level that is holding since April.
The price action look very much like August-September 2022, when again a nearly oversold 1D RSI on the 1D MA200, kickstarted a rise to a HH on the 1.5 Fibonacci level. We see a similar trend emerging, so take this opportunity to enter in its start and target again the 1.5 Fib (TP = 20,950).
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S&P500: Megaphone buy opportunity.S&P500 is almost technically oversold on the 1D timeframe (RSI = 30.205, MACD = -54.210, ADX = 37.499) with the price reaching the 0.618 Fibonacci level from the March 13th Low. The last time the RSI was at 30.000 was on October 3rd, the previous LL of the Bearish Megaphone pattern. The two bullish sequences of this pattern have been around +4.60%. Since this is a double bottom signal, we expect a rise of equal proportion, targeting the 1D MA50 (TP = 4,315).
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#Banknifty Trading Near Important Support ZoneOn Daily Timeframe, BANKNIFTY trading at important support zone. Time to wait for either breakdown or reversal for the Banknifty.
Case 1: Consolidation Move
- Banknifty can consolidate near this support level before the strong movement
- Consolidation zone is nearly 500 points from 44000 to 44500 level
Case 2: Breakdown Move
- Confirmation for breakdown will be if Banknifty starts trading and sustain below 43500 level
- Downside rally nearly 2500+ points expected in case of breakdown
- Intermediate support expected near 42500 level
- Short Trader can place there stop loss if banknifty starts trading above 44550 level
Case 3: Long Side Move
- Long side movement expected in case banknifty starts trading and sustain above 44550 level
- Above this level banknifty can go upto the 46400-46500+ level.
- Intermediate resistance expected near 45500 level
- Long trader can place there stop loss if banknifty starts trading below 43500 level.
To be continue. We will keep posting next update in comment section....
DAX: Amazing Channel Down symmetry calls for a buy.DAX hit (even breached) the bottom of the Channel Down on the 1D timeframe and reacted with a rebound. It is not a strong one yet as the 1D technical outlook is still bearish (RSI = 34.478, MACD = -177.100, ADX = 34.069) but the remarkable symmetry with the two bearish legs prior, calls for a currently undervalued price for the short term.
Technically the two rebounds after making LL inside this Channel Down, reached a little over the 0.5 Fibonacci level. The buy signal becomes even stronger if we take into consideration that we got the first 1D RSI Bullish Divergence. We are buying having a modest target on the 0.5 Fib (TP = 15,100), which depending on how aggressive the current reaction is, can even reach the 1D MA50.
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S&P500: A rare buy opportunity within this MA zone.S&P500 is making contact today with the 1D MA200 for the second time in 2 weeks. The 1D technical outlook is naturally bearish (RSI = 38.503, MACD = -22.450, ADX = 29.479) since the 3 month pattern is a Bearish Megaphone and we are on the third selling sequence. It is not necessary to make a new direct hit on the LL trendline as the utmost technical support level in long term uptrends is the 1W MA50 and is where the second and last buy entry can be attempted. Our target is the 1D MA50 (TP = 4,360).
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DAX: Rebound expected to test the 1D MA50.DAX is trading inside a Channel Down since July 31st and lately has been on the decline after a rejection on the 1D MA50. Naturally, its 1D technical outlook is bearish (RSI = 38.140, MACD = -103.800, ADX = 23.717) but also low enough to justify a short term rebound.
We expect one last 1D MA50 that will decide the long term trend and based on the previous -6.50% pre-bearish leg, this should be on the 0.786 Fibonacci level. That is marginally under the top of the Channel Down and that is our target (TP = 15,450).
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US30 D1 - Sell zone from 35,000US30 H8
We indicated the 34000 sell zone yesterday, and we have since seen a tame 1.5R from this area. Speaking with a few followers, this is something they've capitalised on. That being said, the concern for DXY downside throws a spanner in the works, and the chances of US30 pushing towards 35000 is becoming more and more.
35000 is certainly a preferred sell zone, psychological price, D1 resistance and supply, 2 previous tests. Also, this would tie in with US100 15500 target pace too.
S&P500: Bearish as long as the Megaphone holds.Bullish if brokenS&P500 hit the 4,375 target of our last signal (chart at the end) and turned neutral on the 1D technical timeframe (RSI = 54.575, MACD = -15.020, ADX = 40.128). The rise is now approaching the 1D MA50, over which the new top was formed before on the LH of the Bearish Megaphone. We will wait for the top and short, aiming at the 0.5 Fibonacci retracement (TP = 4,325) as it happened with the September 7th pull back. If the price crosses over the LH, we will wait to buy on the first pull back near the 1D MA50 and target July's High (TP = 4,600).
Prior idea:
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How far is US30 going to go lower?(2)As per our previous post, the US30 had a 10% probability of going lower and it has turned around this week to confirm its bottom according to our smart money indicator. The weekly is on a Uptrend P2. The 2nd daily bottom is it's 2nd attempt to make a weekly bottom towards a weekly P1.We have taken this trade on a long position upon entry on the 4H timeframe towards a weekly P1 move.
Trade Order Details
US30(Long)
E - 33111 (4H Entry)
SL - 32810
T- TBC
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Weekly reference image:
ASX200: Thoughts and AnalysisToday's focus: ASX200
Pattern – Support/ Regular Divergence
Support – 6885
Resistance – 7000 - 7070
Thanks for checking out today’s update. Today, we have run over ASX200, breaking down the overall price picture, levels, and patterns and incorporating moving average and RSI into the analysis.
Interest today starts from the support hold we are watching from 6885. This lines up with the bottom of the overall range. We can also see regular divergence forming with price holding at this support point. This could set off a new rally that could get back up to test 7000.
If this level of support breaks and price closes below, this could break the range and set off a new overall downtrend. Are stocks a bit oversold at this point? Keep in mind we have US employment data due out this Friday.
Have a great day and good trading.
Why we are shorting the S&P Right now at 3260We have been bearish on the market for a while and have seen a massive reversal on S&P to the downside. Despite what people may say, we will continue to sell the market instead of buying.
We can now sell S&P for the following reasons.
1) Strong resistance at 4270 - 4280
2) Nice M15 Pattern.
3) We have the H4 MA and Daily MA pointing lower.
Target is 4180
How far is US30 going to go lower?(1)The US30 has been on a free fall for over a week now. As on the chart image, it is in a Downtrend Phase 1(DT P1) since it broke the structural level of 34284 on the daily timeframe. Its next level of further weakness is when it breaks the daily support level of 32583 as in the chart image. It will become a weekly DT P1 when it breaks the weekly support level of 31427.
We will wait for a trend change on the weekly before taking any short positions on the daily timeframe in correlation with the weekly timeframe. Furthermore,monthly timeframe has confirmed a compression high.
To understand our ideas and videos better,we highly recommend watching our following stream videos:
1.Trader Starter Pack 5 day video course
Look on our channel profile or at our signature section to access it
2.7 steps to achieve consistent trading performance
www.tradingview.com
3.7 steps for strategy construction
www.tradingview.com
Reference weekly image:
NASDAQ: Can hit 17,000 if the 1D MA50 breaks again.Nasdaq remains bearish on the 1D timeframe (RSI = 40.412, MACD = -138.180, ADX = 35.654) but it is on the HL trendline, the supporting trendline that emerged on the December 28th 2022 low. According to the 1D RSI, comparisons can be made with the September-October 2020 consolidation fractal around the 1D MA50, following the COVID recovery. After the 1D MA50 got crossed over for the second time, the index went on to reach the 1.786 Fibonacci extension level before the next consolidation.
If the HL holds and the index breaks over the 1D MA50 again, we will have a strong long term bullish case in our hands and target 17,000 (Fibonacci 1.786).
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Nasdaq (NDX) -> Dump And PumpMy name is Philip, I am a German swing-trader with 4+ years of trading experience and I only trade stocks , crypto , options and indices 🖥️
I only focus on the higher timeframes because this allows me to massively capitalize on the major market swings and cycles without getting caught up in the short term noise.
This is how you build real long term wealth!
In today's anaylsis I want to take a look at the bigger picture on Nasdaq.
For more than 10 years the Nasdaq has been trading in a quite obvious rising channel and just recently retested and already perfectly rejected the rising support trendline.
Since the Nasdaq is now retesting the parallel resistance trendline, I first do expect a short term drop to retest the $13.000 support level and then I think that we will see another rally.
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I know that this is a quite simple trading approach but over the past 4 years I've realized that simplicity and consistency are much more important than any trading strategy.
Keep the long term vision🫡