Technical-analysis
LOADING UP ON TNA TNA which is the Direxion Daily S&P Small Cap 3x leveraged is an ETF that I just came across. I usually trade TQQQ and SPXL while carrying a small position overnight in order to mitigate my risk from daily rebalancing of the leverage ETFs. TNA has run up under 980% since the COVID - 19 sell off and is approximately 40% above its pre - pandemic high. I have heard that small cap stocks will lead the charge up or down before there's a market turn in the S&P 500.
I'm looking at two entry points for this ETF. My first entry point will be at $89.92 and my second position will at $71.32. Due to TNA being a leveraged ETF the goal is to take a small position relative to my account and potential day trade the TZA (the inverse) or TNA with a larger position. I am very bullish on the market and I am loving the pullback that we are experiencing. Based on past analysis, TNA hit a resistance and then pulled back towards a support at $71.32 before breaking through its resistance - and now support - at $89.92 creating a new resistance. The sell off from the resistance at $104.14 looks healthy but I am looking for a bounce off of $89.92 here. TNA is holding its 15 and 50 day EMA strongly after breaking below its 5 day EMA. I will cut my position and turn bearish on TNA if we break below the 50 day EMA. This is the first post that I have made and I am looking to create more whether my analysis is correct or wrong. Thank you in advance for any feedback that readers provide me with as I am looking to do this full time!
Bitcoin Long Trade (update)I changed my View from it being a rising wedge or narrowing channel back to my first interpretation of the parallel channel, with horizontal resistance at the 49700 level which than automatically forms a bearish pattern that has no weight.
The rest of my Analysis can be found in the Ideas linked in this post.
EURUSD - LONG *IDEA*Price is forming a head and shoulder pattern on multiple time frames,
My preferred entry is to see price attempt to break under the 4h zone towards the central daily channel support level.
Fib 0.5 is around 1.20600 and lines up with the central support and left shoulder.
Line up your confluences and only risk what you can afford to lose if you take this trade.
TP somewhere around 100 pips or possibly longer term hold could see around 200+ pips?
EURAUD H4 - SHORTEURAUD H4 - SHORT
Breakdown off a major ascending trendline and now retesting the breakdown zone.
We could potentially look for SELLING opportunities on the lower time frame to catch a move towards 1.55700 support area (Immediate swing low).
MXNUSD - LONGGoing long on this pair short term before we start to look at short opportunities to the downside.
EURUSD - SHORTKeep your eyes on the flag formation and set your pending orders for a potential sell.
Happy Trading!
Share your thoughts, contributions and suggestions in the comments
Forex Guru Wealth Academy
GBPUSD - LongI see a potential move to the upside before we begin to start looking at short opportunities :-)
Happy Trading!
Forex Guru Wealth Academy
AUDCHF H1 - LONGBreakout off the major descending trendline and made a complex pullback onto previous structure; trendline and support area.
looking for a similar breakout fashion for a LONG position if we see a strong bullish move anytime now.
IOSTUSDT entry: around 0.0222
TP1: 0.02677
TP2: 0.0298
TP3: 0.03259
TP4: 0.03537
SL: 0.017419
Check my website for tutorials, examples and calls :)
cry-pto-surf.com
Snowman Logistic is on support levelSnowman logistics on support level & Oversold Zone:-
How to trade it-
condition 1- Short for next level of Rs-45 if it continue to move down form this level too.
condition 2- if trend reverse then buy for level of Rs-61 with only bullish confirmation candle.
Resistance & Support Area:-Stoc is near its support are so long position is good idea if only with bullish confirmation candle.
XAUUSD ShortPrice action for January shows strong support at the monthly low and expecting to turn a previous support at the monthly close to a resistance level
$GME - New Short Position - 3:1 R/RI believe the party is officially over for Gamestop.....and the WSB crowd.
Volume drying up, below several key EMAs, and a boatload of bearish fundamental catalysts. $215.00 is the support to watch for a break below - sellers will pile on if we lose this level.
We are short MOC at $225 on 02/01/2021 with a target of $113.50 and stop-loss of $262.00 for a 3:1 risk-reward ratio.
Feel free to comment and share your thoughts!
FPI Potentially rally and breakout to follow othersKeep an eye for this potential stock to breakout and rally
AUDUSD will go ShortI think AU will go short after creating that lower high and respecting the trend line. If it touches the trend line the third time i am expecting a strong bearish candle to form and then i scale in.
So please follow me and check on my analysis i post them every day. Thanks happy trading week.
audusdpotential for a liquidity grab before heading down. also a 4hr fib ext target sat above the level as noted on chart
EURO LONG INAUGURATION RALLY 1/20/21I'm still bullish the EUR. Broke a 4 hour downward trendline into a retest of double bottom support. Stop loss below lowest bottom. We've been long dollar for the past 2weeks but long term sentiment is to short the dollar. I believe the inauguration may be the catalyst to end this short term based on overall fundamentals and these technical confluences.
$EBAY SHORT TERM PT ~52Looks like descending tops on longer time frame, if rejection of resistance trendline confirmed, I expect test of ~52.
Beyond, if 52 fails, I expect retest of support at ~46.66.
Otherwise, breakout PTs are 58, 59, 61
