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Priceactiontrading

Hey SPYLOVERS ! Enjoy the Bull Ride !!!! Election Week and Interest Rate Cuts Did Not Disappoint Us at All The truth is, it was a very difficult week to predict price movements. However, out of the two possible scenarios I shared last week, Scenario #1 was the winner, and it was the one I had the most confidence in! At this moment, the price is in "no man's land," meaning there is no historical price data on the chart where we can find a level for the price to hold or replicate its movement. In this case, I believe that, from here on, the price will move based on upcoming economic news or as we approach the date when President-elect Donald Trump will officially become the President of the United States (POTUS). Let's enjoy this bull run that is happening—these are important times for the country, and we need to take advantage of those swings! Best regards, and thank you for supporting my analysis. See you next week!
AMEX:SPYLong
by RocketMike111
NVDA price bounced exactly at the green zone, around 115.25. WOWThe price bounced exactly at the green zone, around 115.25. WOW, do you remember my analysis of Nvidia from last week? I can't even believe it myself; it was incredibly accurate! Every time I apply price behavior with price action, I always remember the words of my mentor, Al Brooks. He told me: "Just remember, Mike, price action is ALWAYS RIGHT." I believe that it's the trader who makes mistakes, not the price action, because it will always be on the correct side. That’s why I always recommend drawing trend lines, channels, and minimizing the use of indicators that might make you see something different. This way, you'll be more accurate in your decision when executing an order. Going back to Nvidia... There’s something about the last candle that has me a bit uneasy. This can be very misleading because the price HASN’T BROKEN THE CHANNEL YET! The advantage we have here is that the last candle shows a buying pressure wick, but it hasn’t fully broken out of the channel or shown volume yet. However, I still believe that Nvidia will likely break out at any moment because it bounced off my green zone, as we said in the previous analysis (well before), and it didn’t even reach the #4 sequence, which would have been at the channel’s support. Now, we just need to wait for a breakout confirmation. But what will happen after it breaks out? We’re looking for an N3 pattern. An N3 pattern involves three movements: #1 Breakout and New High #2 Pullback and Rebound #3 New Extreme That simple. Will it happen? No one knows for sure. The next step is the breakout, and after that, we let the price do what it needs to do so we can position ourselves for the next move. Stay very alert this week! Best regards, and thank you for supporting my analysis.
NASDAQ:NVDALong
by RocketMike111
CRUDE OIL (WTI): Your Trading Plan For Today WTI Crude Oil is testing a significant falling trend line on a daily. To short that with a confirmation, pay attention to a descending triangle pattern on an hourly time frame. Your signal will be a breakout of its horizontal neckline - an hourly candle close below 73.46. Short the market aggressively or on a retest, then. Targets: 73.07 / 72.85 Alternatively, a bullish violation of a trend line will be a strong bullish signal. ❤️Please, support my work with like, thank you!❤️
TVC:USOILShort
by VasilyTrader
1
BTC Lucky Number 7 !!! Get Ready for the Bull RUN!! But first...Lucky Number 7 !!!!!! Get Ready for the Bull-RUN!!! But first... First of all, I want to clarify that all the checkmarks checked off are the predictions we have been making over all these months. Each checkmark is confirmation that the price behavior followed the analysis we conducted. In this case, the breakout of point #7 was fulfilled, and this is the breakout I had been waiting for around July-August (point #3). But before we proceed, I want to clarify that for me, a valid breakout means the candle and wick are completely outside the resistance line! So, indeed, for me, this is a legitimate breakout. BUT BEFORE THIS HAPPENS, WE HAVE TO SEE A SUPER IMPORTANT MOVE!!!!! Within the N3 pattern, whenever there is a breakout, it is always followed by a new high, and then the price makes its natural pullback. We will look for the price to touch the new support level, rebound, and aim for a new high. This is my N3 pattern, which I always look for after confirming a breakout. So, let’s wait a few days to allow Bitcoin to rise as much as it needs to, make its natural pullback, and then buckle up because we’re about to see a strong bullish run. Thanks for supporting my analysis. Good luck! -mike
COINBASE:BTCUSDLong
by RocketMike111
Nvidia still in a sequence channel Indeed, Nvidia is respecting the sequence of the bearish channel and bounced at point #5, moving downward. Now, even though Nvidia is dropping, it remains quite strong. Could we see a rebound at the following levels? 113.50 to 115.25 (marked in the green zone) If Nvidia bounces at these levels I mentioned, we will very likely see a channel breakout in the coming weeks. But! If the price surpasses those two levels I mentioned, we could very likely see Nvidia testing the blue GAP zone for the third time or approaching point #6 (channel support). Let’s see what happens this week. Thank you for supporting my analysis.
NASDAQ:NVDAShort
by RocketMike111