Attempting a trend reversal in DXY and SPX500Hello?
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(DXY chart)
It has not yet risen to the vicinity of the arrows shown on the 1M chart and 1W chart.
However, there is a trend reversal movement in the 1D chart.
Therefore, if it holds at 104.789, it is highly likely that DXY will eventually switch to an upward trend.
If the 105.664 point on the 1M chart and the 106.416 point on the 1W chart rise above the 105.664-106.416 range formed by these two points, there is a possibility that the investment market will enter a recession.
Accordingly, caution is required when investing.
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(SPX500USD chart)
Looking at the 1M chart, it shows support around the 4419.8 point.
Therefore, if it remains around 4419.8, it is expected to show a further upward trend.
(1W chart)
The 1W chart appears likely to lead to a further decline as the HA-High indicator shows a decline.
However, since the HA-Low indicator is still located around 2755.8, I think it should be interpreted that it is still maintaining an upward trend from a mid-term perspective.
It is necessary to check whether support is received around the above support and resistance points of 3903.4, 4116.0, and 4403.3.
(1D chart)
On the 1D chart, you can see that it is located in a trend reversal zone.
Accordingly, it is judged that the upward trend can be maintained only if it remains above the 4420.0 point.
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(NAS100USD chart)
The NAS100USD chart looks slightly different from the SPX500USD chart.
(1D chart)
Therefore, if the HA-Low indicator on the 1D chart is not generated by rising, I think there is still a chance for it to rise.
(1M charts)
Therefore, the key is whether it stays above the 15090.3 point on the 1M chart.
The maximum support area is around 14710.6.
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** All explanations are for reference only and do not guarantee profit or loss in investment.
** Trading volume is displayed as a candle body based on 10EMA.
How to display (in order from darkest to darkest)
More than 3 times the trading volume of 10EMA > 2.5 times > 2.0 times > 1.25 times > Trading volume below 10EMA
** Even if you know other people’s know-how, it takes a considerable amount of time to make it your own.
** This chart was created using my know-how.
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US SPX 500
SPX500USD Will Go Higher! Buy!
Take a look at our analysis for SPX500USD.
Time Frame: 45m
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is on a crucial zone of demand 4465.6.
The oversold market condition in a combination with key structure gives us a relatively strong bullish signal with goal 4478.5 level.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
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SPX / USD – HTF JOURNAL - WEEKLY SERIESThis is an ACTIVELY managed BLOG CONTRIBUTION, which will be UPDATED WEEKLY with comments and trade ideas.
| This way, I generate a SERIES for you, where you, as a reader, can - ACTIVELY - learn from the analyses, decisions, & interactions |
In the following analysis, I do NOT highlight any specific scenario but neutrally look at the higher timeframes in the > OANDA:SPX500USD <
We focus on the technical KEY points and KEY areas that will be relevant in the coming weeks & months.
As soon as candlestick closes emerge that suggest a temporary direction for the price intra-day, I create a separate post below.
This post will be under a similar name, which is as follows: " SPX / USD - JOURNAL - ACTIVE SERIES " (Includes: entries, stop loss & take profit levels)
Once published, it will be added as a comment, and when this post is saved, you will receive a notification about it.
How do I save an idea so that I receive a notification when it’s updated?
MARKED POINTS OF INTENTION (POI)
The all-time high of 2022, is only 4.56% away from the current top, which is scary in terms of the economic situation.
The overvaluation of stocks has reached a point where the fall will result in a hard landing.
The institutions and central banks know this and are currently delaying disaster. From a technical perspective, we are below / at the mid-trend line of the overarching uptrend channel.
From a subordinate perspective, the price has broken out of a recent trend channel and has not had enough momentum on the reconfirmation.
Momentum indicators in the weekly TFs and higher are not meaningful; however, a small bearish divergence can be seen in the daily TFs.
There are a lot of support areas standing in the way of a serious sell-off, which would have to be broken first - both scenarios are thus not to be ruled out | LONG / SHORT.
Z - You have to understand the big picture to not drown in the noise of the small one - Z
| ZielIstDieAutarkie |
If this idea and explanation have added value to you, I would appreciate a COMMENT or BOOST very much.
Thank you and happy trading!
Z
SP500 Correction LevelThe SP500 index continues to rise as long as it remains above the 20-week moving average, but this may be coming to an end. Weekly closes below $4436 will create a negative outlook. A correction could push the index down to the 100-week moving average of $4160. But as long as the index remains above $4436, the rise will continue.
SPX500USD Will Go Higher! Long!
Take a look at our analysis for SPX500USD.
Time Frame: 1h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The price is testing a key support 4458.0.
Considering the today's price action, probabilities will be high to see a movement to 4478.3.
P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.
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Trend reversal zone: 103.484-104.064Hello?
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(DXY chart)
If this rise rises above 105.664 on the 1M chart, a new trend is expected to be formed.
This new trend is expected to show its exact direction when it rises above 106.416 on the 1W chart.
If you look at the location of the high point where the finger on the 1D chart is pointing, you can see that it is in a downward trend.
In order to turn this downward trend into an upward trend, support must be found around 103.484-104.064.
If that happens, DXY is likely to turn to the upside.
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(SPX500USD chart)
The possibility of renewing the new high (ATH) is increasing while maintaining the price above the HA-High indicator (4419.8) on the 1M chart and the HA-High indicator (4478.4) on the 1W chart.
Accordingly, the key is whether the price can rise above the HA-High indicator (4563.2) on the 1D chart.
To do this, we need to check whether we can receive support around 4514.3.
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(NAS100USD chart)
If it rises above 15624.6, it is expected to renew the new high (ATH).
Accordingly, the key is whether it can receive support and rise around 15090.3-15379.1.
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** All explanations are for reference only and do not guarantee profit or loss in investment.
** Trading volume is displayed as a candle body based on 10EMA.
How to display (in order from darkest to darkest)
More than 3 times the trading volume of 10EMA > 2.5 times > 2.0 times > 1.25 times > Trading volume below 10EMA
** Even if you know other people’s know-how, it takes a considerable amount of time to make it your own.
** This chart was created using my know-how.
---------------------------------
S&P 500 ForecastS&P 500 moved towards the 3980 level as traders prepared for tomorrow’s CPI data meanwhile, the tech heavy NASDAQ Composite was up by 0.4%.
Today’s rebound is led by energy stocks. WTI oil managed to get above the $73 level as traders focused on the Keystone pipeline outage.
From a big picture point of view, S&P 500 continues to consolidate in the range between the support at 3915 and the resistance at 3975. RSI is in the moderate territory, so there is plenty of room to gain additional momentum after the CPI data and the Fed decision. If the CPI report shows that inflation is slowing down, the current consolidation will serve as a good base for an upside move. However, it should be noted that traders may remain somewhat cautious ahead of the Fed decision.A move below the 50 EMA, which is located near the 3915 level, may be interpreted as a sign of an upcoming sell-off. S&P 500 received strong support near this level, so traders may rush out of their long positions if this support level is broken
we still in down trend and we should break the yellow line and back 4100 level
The Fed is still playing catch up to tame rising prices after its protracted gross mischaracterisation last year of inflation as ‘transitory’ and its initially timid steps to withdraw monetary stimulus,
The world’s most powerful central bank is now confronted with two unpleasant choices next year, crush growth and jobs to get to its 2% target or publicly validate a higher inflation target and risk a new round of destabilized inflationary expectations. I think Rather than fall to 2-3% by the end of next year, U.S. core PCE inflation will probably prove rather sticky at around 4% or above.
SPX500USD Is Going Up! Long!
Take a look at our analysis for SPX500USD.
Time Frame: 4h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is approaching a key horizontal level 4525.0.
Considering the today's price action, probabilities will be high to see a movement to 4580.3.
P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.
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SXP500 Index 30/08 MovePair : SPX500 Index
Description :
Bullish Channel in Long Time Frame and Rejecting from the Upper Trend Line Completing its " 3rd " Impulsive Wave. We have Break of Structure and Making its Retracement in Corrective Waves " ABC " . Possible Rejection from Fibonacci Level 61.80% or Previous Resistance
SPX500USD Is Very Bullish! Long!
Please, check our technical outlook for SPX500USD.
Time Frame: 1D
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is testing a major horizontal structure 4408.7.
Taking into consideration the structure & trend analysis, I believe that the market will reach 4514.5 level soon.
P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.
Like and subscribe and comment my ideas if you enjoy them!
SPX500USD SellDaily chart is showing head and shoulder pattern. Uptrend line is already broken. The price is rejected by support turn resistance level. There are a lot of sell orders at that level.
The Fed still have intent to increase interest rate at the end of the year 2023 should the inflation continue to stay above 2% target. As US Interest rate increase, the USD demand will be high and thus attract a lot of buying pressure for USD. DXY is correlated with other USD pairs. When DXY is going up and other USD pairs will be going down.
SPX to new highs SPX loves cups and handles.
All the highlighted Cup & Handles on daily have played out beautifully so far, they all have been to the upside so far, but now we are making one to the downside with targets towards 4150. Then how do we reach new highs?
If we zoom out to monthly TF things become clearer. As long as we stay above 0.5 or close above it on monthly, we have a chance to make new highs in a year or so.
I have highlighted several upside targets based on where we bounce from on monthly.
SPX did everything as per the plan, Where to now?I posted this chart just last week as part of my Major short setup going back weeks. Link to previous post in the description, please go through that setup to get the context.
This is going to be a short post, since everything is going as per the plan we just have to wait and watch, Price back to where I expect either a break below or bounce to continue higher.
So as per the plan If it's going to bounce now, I have highlighted two 30 mins demand zones. where I expect a bounce. Those two zones are also confluent with 0.786 and 0.886 fibs of the retracements.
Apart from this chart it pretty is self-explanatory.
Boost this post and leave me comment for any questions on this I'd be happy to explain.