#ES Futures 2.23.22 Overview and Levels to Watch Globex session was quite tonight, we are right at a Key Level and waiting for our direction. Lets take a look at our options today. On the Upside we have 4349.50-4345.25 as our PM Resistance, if we break and hold over it then that leaves the door open for tests of 4362.75-4359.50 and our Key Resistance for the day at 4378.50-4374.75 where we should have sellers active, we would need to break that and 4392.25-4389.75 to see it extend into next Value area. On the downside, if we don't get over PM Resistance then we can see a test of 4327.25-4321.50 and our PM Support at 4310-4307.25, if that goes then we have 4291.50-4286.75 and 4272-4265.50 as our next Key Level, if that breaks and we get under 4252.50-4247.50 then our lower levels where we can see response are 4234.75-4229.25 and next Key Area at 4220-4214.75.
Tradesetup
BTCUSD: last shorting opportunity at 39 350$ - 39 900$Hi community, hope everyone is ready for new opportunities. This is the update on the linked idea, which we published yesterday.
We now are in the 4th wave (most probably ABC structure), as we finally see 5 waves down in the 3rd wave.
RSI has 3 ticks in the bottom zone near 30% level.
We see three upticks on the histogramm on MACD.
The 4th wave most probably will finish and the market will reverse at the golden ratio zone of the 3rd wave (0.65-0.618 Fib) marked with two orange lines.
I think so, as according to the EWT theory waves 2 and 4 usually are different, which means if the wave 2 is fast and retraces the 1st wave a lot (up to 0.382 and more, FIB), the 4th wave will retrace less (will stop near the golden ratio) and will last long. And the opposite.
I expect the market to reverse at 39 350$ - 39 900$
The reverse zone will be good to increase short positions
Hope you like my idea and will subscribe to my profile here to support me and to get notified about my new ideas. Have a nice day and talk to you soon!
BTCUSD: last shorting opportunity at 40 250$-40 500$Hi community, hope everyone is ready for new opportunities.
We now are in the 4th wave (most probably ABC structure)
The 4th wave most probably will finish and the market will reverse at the golden ratio zone of the 3rd wave (0.65-0.618 Fib) marked with two orange lines.
I think so, as according to the EWT theory waves 2 and 4 usually are different, which means if the wave 2 is fast and retraces the 1st wave a lot (up to 0.382 and more, FIB), the 4th wave will retrace less (will stop near the golden ratio) and will last long. And the opposite.
I expect the market to reverse at 40 250$ - 40 500$
The reverse zone will be good to increase short positions
Hope you like my idea and will subscribe to my profile here to support me and to get notified about my new ideas. Have a nice day and talk to you soon!
Bearish Wedge ~ Short SetupAfter the Shooting Star we had on a weekly, and the continuation of this ending this week before a long weekend on the NYSE, I believe the short-position could play out well.
The bearish wedge formed has a measured move to a 30K; which is coincident with 2021 heavy support. If we can see a test of 28K to freak people out and a close (weekly basis) above 30K. The momentum may shift back. For now, I am bearish.
#ES_F 2.18 Overview and Levels to WatchYesterday our downside scenario played out perfectly, what can we expect today? In the Globex session inventory got too short and we got a nice squeeze up to our 4405 level but could not break and and reach our Key level at 4424.50-4418.75 and that was our sign of weakness and that we have more inventory above us. This morning we finally broke PM support and got under our Key Support at 4378.50-4374.75. On the downside if we stay below our Key Support then that leaves us open for a test of 4362.75-4359.50, 4349.50-4345.25 and next Key Support at 4327.25-4321.50, If that gets taken out and we take out 4310-4307.25 we can see more downside to 4291.50-4286.75 and 4272-4265. To get upside we need to get back over 4378.50-4374.75 and then we can test higher levels of 4392.25-4389.75, 4405.25-4403 and 4424.50-4418.75 but right now we have inventory above and more likely be looking for the downside scenario to play out again. Trade safe!
Watching $TQQQ for entryWatching $TQQQ for entry
Ok… watching TQQQ for a swing…
Target 1 48.17
Target 2 (add) 43.90)
Target 3 (double) 40.46
This should produce a nice swing, especially if all 3 hit.
I will update with sell targets once I take a position.
GL
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I am not your financial advisor, but I will happily answer questions and analyze to the best of my ability but ultimately the risk is on you. Check out my ideas, but also do your own due diligence.
I have a huge tolerance for volatility so please know that. If you’re new to my trade setups please try them on a small scale first. Then go in with a risk you’re comfortable with.
I am not a bull. I am not a bear. I just see what I see in the charts and I don’t pay too much attention to the noise in the news.
If you want me to analyze any stock or ETF just leave me a comment and I’ll do it if I can. (If I have time)
And most importantly… Have fun, y’all!!
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#ES Futures Thesis Trade RewievOne example of how my thesis played out today. In the morning I posted for the downside scenario for today we had - all this inventory between 4440-4480 that if gets no upside then we can see it start selling out and level we are watching are 4445-4437.75 as our PM Support and 4424.50-4418.75 as our Key Intraday Support, breaking PM support is first sign of weakness and getting under the Key support leaves the doors open for 4405.25-4403, 4392.25-4389.75 and 4378.50-4374.75 as our next level where we should see good support unless we break that and 4362.75-4345.25 level then we can see more downside. Trade entry was when we failed to get back in previous value with a stop right above and take profits at each level lower until we found buyers at our next big support.
#ES_F 2.16.22 Overview and Levels to watchDid we even move since Yesterday morning?? Market is awaiting direction, we have Retail Sales 8:30am and FOMC Minutes at 2PM. So far Globex failed at our 4479.75-4475 level and we came back in yesterdays range and we wait and see where will it take us. Failing to extend is our first sign of weakness today, on the upside we have 4479.75-4475 as our Key Intraday Resistance, we need to get through that and hold in order to see range extension to 4490-4487.25, 4497.25-4494.75, 4508.75-4505.50 and our next bigger area of resistance at 4524.25-4519. On the downside if we fail to extend higher, then we have 4447.25-4445 as our PM support, if we get under that leaves door open for 4437.75-4432.50 and our Key Intraday Support at 4424.50-4418.75. If our Key support gets taken out we can see a nice move down to 4405-25-4403, 4392.25-4389.75 and 4378.50-4374.75 which is our next bigger area of support but if going down on big volume can get taken out and if we do our levels lower are 4362.75-4359.50, 4349.50-4345.25 and 4327.25-4321.50. Lets see what they have in store for us today and where will the market head.
#ES_F 2.01.22 Overview and levels to watchAfter exciting month end yesterday, what can we see today? Overnight inventory is currently long over the close and over out 4480 level. Today we want to see if we will continue our strength, retest and hold lower levels or find temporary balance? On the down side we have PM support at 4490-4487.25 if we get under and hold, that will be our first sign of weakness. Under we have 4479.75-4475 as our Key support and if broken we can see 4465.25-4460.25, 4447.25-4445, 4437.75-4432.50 and if selling is strong can test 4424.50 area. On the upside, holding above PM support shows strength and can test 4524.25-4519.50 and we can break and hold over that can see 4536.75-4532.50, 4551.25-4548.75 and maybe 4571.75-4563.75 those are the bigger areas to hit on the upside and should see sellers up there. We made some big moves and now waiting to see what this month will bring. Was the buying real or just short covering and we will head lower this month? Lets see what they have for us.
Apple 15M ChartPrevious Double Bottom Pattern (Invalidated)
New Pattern:
Symmetrical Triangle
Price target if breakout to the upside: $168- $169
Price Target if break to the downside: $150- $151
If Price Breaks Above Top of Triangle: Wait for a Retest (to confirm support), Then Enter Long
If Price Breaks Below Bottom of the triangle, Wait for a Retest (to confirm resistance), Then Enter Short
Note:
Tomorrows Fed meeting could have either positive or negative implications for the Market in General.
ES 1.27 Breaking down Overnight Action and What can we see todayON Inventory is short under 4310. Currently being sold over 4320. Yesterday we corrected inventory off the open and took the lower stops, then we spent the time leading up to the FED building up stops. At 2pm we did something opposite from what we seen at FED days last year which is big MGI. We used it to run the upper stops this time first to sell the rest of our product and then once no more big buyers came in and we still have inventory above us we went looking for the bid which we found below 4310. Question today is do we stay in current range or will we get an extension out of it. Currently we have 4378.50-4374.75 as our big resistance if we break and hold over can see 4392.25-4389.75, 4405.25-4403, and 4424.50-4418.75 which is another big level where we should see sellers. 4327.25-4321.50 Is our PM Support if we break and hold under we can see 4310-4307.25, 4295-4291.50 and 4272-4265.50 as our KEY Intraday support, if the support breaks we can see more downside all the way to 4200. Lets see what kind of order flow we have today and what will be the agenda.
KNC Long term Halloween Spot trade for you profit goblins!Hello Traders,
I have put together this trade set up and information for you to help you in your research. Please see chart for details and be mindful of your stop losses along the way moving them beneath the pullbacks to stay in profit the whole trade.
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Have a green week,
Savvy