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$SPY Is The Sell Off Over?The above chart is a daily candle chart of the S&P 500 represented by SPY. The red arcing area is a distribution phase. The yellow highlighted area seems to be an area of indecision with both pockets of support and resistance. With in this area there's a possible "follow through day". Which, as described by Famed Technician William O'Neill is: "A follow-through day occurs during a market correction when a major index closes significantly higher than the previous day, and in greater volume. It happens Day 4 or later of an attempted rally. Leading up to a follow-through day, an attempted rally takes place during a downtrend when a major index closes with a gain. The rally attempt continues intact as long as the index doesn't make a new low. Follow-through day variables include: an index closing sufficiently above 1% on increased volume, positive behavior of leading stocks, and improved market action regarding support vs. resistance levels. The most powerful follow-through days often happen Day 4 through Day 7 of an attempted rally. In the wake of a follow-through day, the market should continue to add gains in strong volume, with breakouts by top stocks. This is further confirmation a new uptrend is underway." Do we fit the criteria of a follow through day? 1) Did we have a market correction? Peak-to-trough was a roughly 12% drop. 2) Was there an attempted rally? January 24th saw a 4% plus drop only to close higher on the day. That low has proven to be the low of the sell off thus far. 3) Was there a higher close on strong volume on day 4 or later? On the fourth day, the index closed 2.5% higher then the previous days close on stronger volume. 4) Did the rally continue on strong volume? Today, the fifth day, saw the index rally back above the 200 Day Moving Average for a nearly 2% gain and on above average volume. 5) Did leading stocks breakout? The rally was lead by tech stocks and with in the group semi's such as NVDA and AMD lead the way. The argument for a follow through day seems pretty persuasive. What does the community think? Too soon?
AMEX:SPYLong
by Breakout_Charts
3
FTMUSDT Price Action OB| Double Bottom| Low Volume| Trend Evening Traders, Today’s analysis – FTMUSDT – trading action trade a t a key trade location where a bounce is probable, Points t consider, - Price action corrective - Local OB Support (Double Bottom Confluence) - Volume Low - Trend Corrective FTMUSDT’s immediate price action is trading inside an order block where a bounce will confirm a double bottom, allowing for a bullish bias. The current volume profile is below average, an influx is highly imminent on the next expansion. The current trend is corrective, thus any rallies are likely to be sold into. Overall, in my opinion, FTMUSDT is a valid long with defined risk, price action is to be used upon discretion/ management. Hope this analysis helps, Thank you for following my work And remember, Timing, perseverance, and ten years of trying will eventually make you look like an overnight success. – Biz Stone
FLong
by AzizKhanZamani
KCS all 3 possible moves hello everybody these are 3 possible moves green : squeezing price below the trendline and breaking it. ( personally, I will wait for 18 $ resistance to break ) ( don't forget to wait for retest). yellow : relow at 15 $ support line then break the trendline. ( I will buy after retesting the trend ) red : losing the 15 $ support and retesting it. ...... this is another trade for now and a little risky. the first target is touching the trend sec target losing the trend and it is 15 $ not financial advice. goodluck
by coocoolikoo
EURUSD Local OB| SFP| POC| Swing High Evening Traders, Today’s analysis – EURUSD- trading at a key support level that needs to hold for a bullish bias, Points to consider, - Price Action Impulsive - Local OB Support - Potential Swing Failure - Swing High Objective EURUSD’s immediate price action is trading at a key trade location that has technical confluence with the Local OB and the SFP, allowing for a bullish bias. The immediate objective is the Swing High, exceeding this level will lead to a trend continuation. The RSI is overextended; a reversion to its mean is imminent on a bounce back. Overall, in my opinion, EURUSD is a valid long with defined risk, price action is to be used upon discretion/ management. Hope this analysis helps, Thank you for following my work, And remember, “A quiet mind is able to hear intuition over fear.” ― Yvan Byeajee
Long
by AzizKhanZamani
1
LINKUSDT Daily S/R| Local OB| Price Actin| Trend Evening Traders, Today’s analysis – LINKUSDT – trading at a key level where a respect can lead to a bounce, Points to consider, - Price Action Impulsive - Daily S/R Support - Local OB Resistance - RSI Extended - Low Volume LINKUSDT’s immediate price action is trading towards a key Daily S/R level, holding this level allows for a bullish bias into the Local OB. The RSI is currently overextended, a reversion to its mean is probable from region, epicially with price action finding support. The current volume profile is below average, an influx is highly imminent on the next expansion. Overall, in my opinion, LINKUSDT is a valid long with defined risk, price action is to be used upon discretion/ management. Hope this analysis helps Thank you for following my work And remember, “Sheer will and determination is no substitute for something that actually works.” – Jason Klatt
Long
by AzizKhanZamani
GBPAUD Local OB Resistance| Swing Failure| Price Action| Trend Evening Traders, Today’s analysis – GBPAUD – trading at a key trade location where a rejection is probable, Points to consider, - Price Action Impulsive - Local OB Resistance - Price Action Swing Failure - Low Volume - Trend GBPAUD’s immediate price action is trading at an order block resistance that is in confluence with a Swing Failure Pattern, allowing for a bearish bias. The current volume profile is below average, an influx is imminent open an expansion. The current trend is corrective, thus a rejection here will establish a technical lower high. Overall, in my opinion, GBPAUD is a valid short with defined risk, price action is to be used upon discretion/ management. Hope this analysis helps, Thank you for following my work And remember, “In order to succeed, you first have to be willing to experience failure.” ― Yvan Byeajee,
Short
by AzizKhanZamani
BITCOIN , BTCUSDT 1DBitcoin ♻️ Bitcoin jumped up after the support test of 32900 and was able to move up to 38500 But this does not seem to be the end of the downtrend, and the pullback to the lost level was probably $ 39000- 40000$ , According to the ABC model, which was analyzed 4 days ago, the level of 29000-30000$ not been tested yet and the cycle has not been completed⚠️ Bitcoin needs at least a few strong 4-hour candlesticks with a high volume, over 40000$ , to climb and end the correction and downtrend. But tonight, after the Federal Reserve meeting and the release of economic statistics and a statement on digital currencies, we can better understand the market decision and trends ❗️ ➖➖➖➖➖➖ ❤️ If you apperciate my work , Please like and comment , It Keeps me motivated to do better ❤️ 👤 Saeid.Mahbob 📅 01.26.2022
by SaeidMahbob
4
RUNEUSDT Daily S/R| Price Action| Double Bottom| Volume Evening Traders, Today’s analysis – RUNEUSDT – trading at a key trade location that is likely to hold, Points to consider, - Price Action Corrective - Daily S/R Support (Double Bottom Confluence) - Local OB Objective - RSI Extended RUNEUSDT’s immediate price action is trading at a key trade location that has technical confluence with the Daily S/R and an Order Block, allowing for a bullish bias. The Local OB is the immediate objective, exceeding this level will lead to a trend continuation. The current RSI is overextended, a reversion to its mean is probable on a bounce back. Overall, in my opinion, RUNEUSDT is a valid long with defined risk, price action is to be used upon discretion/ management. Hope this analysis helps, Thank you for following my work And remember, “Genuine acceptance that there will be losses on your way to market success will greatly decrease the hurt when they eventually come.” ― yvan Byeajee
Long
by AzizKhanZamani
BTCUSDT Update - First $43000 then $26000?Hello trader, today we will talk about bitcoin Let's start with the fact that we warned about such a decline to 35000, we warned that there would be an impulse price decline and also that only a few guys can and can short this market. You can find these posts in our.... Now our team of analysts is disassembling this tool for one purpose Having analyzed Bitcoin on all timeframes, we assume (this is not financial advice) to open positions against the current of the market (open long positions) Why ? The Internet began to discuss the price drop to 20,000 Yes, this is logical - uh, this is a very likely scenario. But We broke the level of the Head and Shoulders pattern - where the price DON'T returned to the level of 43000 (did not happen) The second factor is that the cluster analysis indicates increased volumes in the delta. (buy) The third is psychology (Most traders and small speculators are already accustomed to falling) and set short stop losses at 1-2% of the entry into their short positions. Thus, the market can grow impulsively due to the same stop losses. The fourth factor is that the price has covered one of the big gap formations (in short, the price gap has been filled) The fifth factor is the narrow channel in which the price is located. The sixth factor is the fear in the market to miss the bottom of the market, everyone wants to buy cheaper. But lost profits will be bought at 43,000 - where the market will be lowered even lower. Given the non-recoiling fall, we expect the release of one good news where the entire market will be raised by several hundred billion dollars Also considering all target CMEs on the exchange our team expects this outcome.
by AzurTrade
NZDJPY Local OB| Swing Low| Price Action| Trend Evening Traders, Today’s analysis – NZDJPY- trading at a ley trade location where a bounce is probable, Points to consider, - Price Action Corrective - Local OB Support - Daily S/R Objective - RSI Extended - Declining Volume NZDJPY’s immediate price action is trading at an area that is in confluence with an order block and a potential swing failure, allowing for a bullish bias. The Daily S/R is the immediate objective, exceeding this level will lead to a trend continuation. The current RSI is overextended, a reversion back to its mean will happen on the price action rise. Overall, in my opinion, NZDJPY is a valid long with defined risk, price action is to be used upon discretion/ management. Hope this analysis helps, Thank you for following my work And remember, “Trading effectively is about assessing probabilities, not certainties.” ― Yvan Byeajee
Long
by AzizKhanZamani
USDJPY @RESISTANCE of WEEKLY RANGE - REVERSAL? [240122] Good Evening People... Tonight, I will be providing Technical Analysis for the USDJPY Reasons being - This particular currency pair looks have approached a major weekly level So, Lets get stuck in... As always, I will kick off with the ' Top-Down' Analysis Looking at the Monthly Timeframe - We can see that back in April '21 there was a breakout of a 4 year Descending Channel Following this, the market proceeded to print Higher Highs/Lows With this in mind - Yes, we are looking for Long Opportunities But, not before moving down to the Weekly Timeframe On the Weekly - I have marked out a long term Range What caught my attention is - Over the last month, Price has tested the Resistance of this Range and began to travel south Furthermore, the market may be forming a Head & Shoulders Pattern We have the Left Shoulder & The Head completed - With Price heading towards the partial formed Neckline So, are we looking at the beginning of a Reversal in the market? After studying the Daily Timeframe - An Ascending Channel was identified At the Support of this Channel [Where it looks like the market is currently heading - We have Confluence with this Channel Support & Horizontal Support @112.72 Additionally, the neckline of the potential H&S on the Weekly coincides with this zone for further Confluence For me, this is the zone where trade decisions can be made Personally, I will be looking for Price Action in the form of a Candle Stick for Buys Alternatively, a Daily close below the confluence @112.72 would have me considering Selling opportunities Updates will follow - When the time is right Well, that's all for this evening folks... Thanks for tuning in & Stay Cool
by fxhole_
2
FTMUSDT Daily S/R| .618 Fibonacci| Price Action| Trend Evening Traders, Today’s analysis – FTMUSDT – trading towards a key trade location where a bounce is probable, Points to consider, - Price Action Impulsive - .618 Fibonacci Support - Daily S/R Objective - Low Volume - Trend FTMUSDT’s immediate price action is impulsive and is trading towards a key location that has technical confluence with the .618 Fibonacci and the Local OB, allowing for a bullish bias. The Daily S/R is the current objective, exceeding this level will lead to a trend continuation. The current volume is below average, an influx is highly imminent on the next expansion. Overall, in my opinion, FTMUSDT is a valid long with defined risk, price action is to be used upon discretion/ management. Hope this analysis helps, Thank you for following my work And remember, “You create your own game in your mind based on your beliefs, intents, perception and rules.” ― Mark Douglas
FLong
by AzizKhanZamani
1
S&P 500 Correction Imminent ???I enjoy long term charts. It allows me to drown out the noise and find the signal. I find this chart interesting. What we're looking at is a monthly candle chart of the S&P 500 SP:SPX The moving averages used are 10 month MA and 24 month MA. Looking at a chart since 1995 the index has closed below the 10 month MA a total of 13 times. 10 of the 13 times the index preceded to test or close below the 24 month moving average. It could be coincidental but I find that correlation interesting. If January closes below the 10 month MA then there's about a 77% chance of trading down to the 24 month MA. (Assuming the correlation is valid) Considering how far above the 24 month MA the index is currently trading the decline could be sizeable. That would represent another 14% drop from where the index currently sits and it would be about 20% from the high. Coincidence?
SP:SPXShort
by Breakout_Charts
ONEUSDT Daily S/R| Range High| Price Action| Trend Evening Traders, Today’s analysis – ONEUSDT- trading at a key trade location where a reversal is probable, Points to consider, - Price Action Corrective - Daily S/R Resistance - Single Print Fill - Local OB - .618 Fibonacci Support ONEUSDT’s immediate price action is corrective and is trading at a key location that has technical confluence with the Daily S/R and Single Print, allowing for a bearish bias. The immediate objective is the Local B, exceeding this level will lead to a bearish trend continuation. Price action is currently range bunce, accumulation is imminent before the next expansion. Overall, in my opinion, NEUSDT is a valid short with defined risk, price action is to be used upon discretion/ management. Hope this analysis helps, Thank you for following my work And remember, “You’re going to learn a million things, then you need to forget them all and focus on one.” - SunriseTrader
Short
by AzizKhanZamani