NEW HIGHS Broken out of old resistance now new supportWith every indicator overbought, there is still no sign of selling pressure. Trend analysis is still up; this can get closer to 600 before it corrects.
SPY trade ideas
Monitoring 30m Flip Amid Bullish 3h StructureThe 30m swing is still bullish. Waiting for the 30m to flip bearish to align with the expected 3h swing pullback. For now, the 30m continues to support the bullish structure.
Expired SPY Weekly outlook. 4th WK SEP 2024Expired SPY Weekly outlook. 4th WK SEP 2024
> BULLISH 📈 HIT
Prior Week Closed Price: 568.25
This Week Target Price: 571
Strike Price: 574.02 on SEP 26, 2024
Upper Range: 580
Lower Range: 563
$SPY Analysis, Key Levels & Targets for Day Traders for Sept 26No video again tonight but here is the trading range. Implied move is between 566 - 573 on the day. We’re above the top of the implied move right now with where futures take it so be careful if we open elevated and don’t get back into the implied move right away, that’s a squeeze setup right there.
Don’t forget Powell speaks today in the morning and we have GDP both of which could bring that down, but if we stay elevated be careful of a squeeze.
Stupid Willy is pointing down.
35EMA has been holding us up since FOMC and it’s right in the middle today.
GL, y’all… I’ll keep you up to date on the wifi situation and hopefully videos will resume soon.
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$SPY September 26, 2024AMEX:SPY September 26, 2024
15 Minutes.
Yesterday was sideways.
So today i expect the move.
All moving averages converged.
Took support in 100 averages multiple times in 15 minutes time frame.
I expect a swift move once 572 is crossed.
Will close longs below 568.
SPY/QQQ Plan Your Trade For 9-25 : Carryover in Carryover ModeToday's carryover trend will likely prompt a moderate meltdown in the SPY and QQQ. Pay attention to how the QQQ is still transitioning away from the shorter-term (blue) Excess Phase Peak pattern while the SPY has broken both the long-term and short-term Excess Phase Peak patterns.
In my opinion, this suggests the markets are still struggling to move higher overall.
The recent Fed rate cut will prompt the markets to shift attention towards more undervalued stock sectors. This will prompt a fairly broad-market rally phase to settle into place.
However, the US elections, which are only about 35 days away, act as an "uncertainty factor" for the markets.
Thus, we have a very interesting dynamic. The markets want to transition into a fairly broad rally while uncertainty and concern related to US policy and leadership are becoming increasingly contentious.
This translates into volatility, and I believe the markets are set up for a DEEP-V type of Flash Price move over the next 30 days. This is why I'm urging traders to stay cautious of a big volatility event after October 10-14.
In the meantime, the SPY and QQQ should attempt to rally a bit higher, and Gold will try to reach $2710-2720.
BTCUSD, on the other hand, looks like it will roll downward, targeting the $60,150 level.
Get some.
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Lesson 2: The Power of Initiative in TradingWelcome to Lesson 2 of Hercules Trading’s Psychology Course—The Power of Initiative in Trading. Building on the foundational traits we explored in Lesson 1, today we delve deep into Initiative, a pivotal element that distinguishes successful traders from the rest. Whether you’re navigating the intricate waters of forex, stocks, commodities, or cryptocurrencies, understanding and harnessing the power of initiative is essential for sustained trading success.
Why is Trading Initiative So Important?
In the realm of trading, the adage “scared money doesn’t make money” encapsulates a fundamental truth about trading psychology. Your mindset, particularly your willingness to take initiative , significantly impacts your ability to capitalize on opportunities and navigate challenges. But what exactly does initiative mean in the context of trading, and why is it such a game-changer?
Initiative in trading is about more than just taking the first step; it’s about maintaining a proactive and persistent approach throughout your trading journey. It’s the driving force that propels you to act, adapt, and grow, ensuring that you remain engaged and motivated even when the markets are unpredictable or when faced with setbacks.
Understanding Initiative in Your Trading Journey
To truly grasp the importance of initiative, it’s crucial to define what it means within the trading landscape. Initiative involves several key aspects:
Taking Action: Moving from passive observation to active engagement in the markets. This means not just watching the charts but making informed trading decisions based on analysis and strategy.
Proactive Learning: Continuously seeking knowledge and improving your trading skills. This could involve studying market trends, learning new trading strategies, or staying updated with financial news.
Adaptability: Being willing to adjust your strategies in response to changing market conditions. The ability to pivot when necessary can prevent significant losses and capitalize on emerging opportunities.
Responsibility: Owning your trading decisions and their outcomes. This means acknowledging both successes and failures, learning from them, and using those lessons to inform future trades.
Initiative is not a one-time effort but a consistent mindset that keeps you moving forward, learning, and adapting. It’s about being the driver of your trading career, not just a passenger.
Why Is Courage Key in Trading?
Trading inherently involves risk, and stepping into the markets requires a blend of courage and determination. Many potential traders are deterred by the fear of losing money or making mistakes. However, those who embrace initiative understand that courage is essential for overcoming these fears and achieving success.
The Role of Courage in Trading:
Facing Uncertainty: Markets are volatile and unpredictable. Courage enables you to make decisions even when outcomes are uncertain.
Overcoming Fear: Fear of loss or failure can paralyze traders. Courage helps you confront and manage these fears, allowing you to make rational decisions rather than emotional ones.
Embracing Learning Opportunities: Courage encourages you to view losses and setbacks as opportunities to learn and improve, rather than as insurmountable failures.
By fostering courage through initiative, you set yourself apart from traders who are hesitant or reactive. This proactive stance is crucial for navigating the complexities of the financial markets and building a resilient trading career.
How to Conquer Fear in Trading
Fear is a natural emotion in trading, but it shouldn’t dictate your actions. Here’s how to overcome it:
Educate Yourself: Knowledge is a powerful antidote to fear. The more you understand the markets, the more confident you’ll become. Invest time in learning about different trading strategies, market indicators, and risk management techniques.
Start Small: Begin with manageable investments to build your confidence without significant risk. This gradual approach allows you to gain experience and trust in your strategies.
Develop a Trading Plan: A well-thought-out plan provides a roadmap, reducing uncertainty and fear. Your plan should outline your trading goals, risk tolerance, strategies, and criteria for entering and exiting trades.
Embrace Losses as Learning Opportunities: Every loss is a step towards mastery. Analyze your mistakes, understand what went wrong, and adjust your strategies accordingly. This mindset transforms setbacks into valuable lessons.
Practice Mindfulness and Emotional Control: Techniques such as meditation or journaling can help you stay grounded and manage emotions effectively. Maintaining emotional balance is crucial for making rational trading decisions.
Seek Support: Engage with a community of traders or seek mentorship from experienced professionals. Sharing experiences and gaining insights can provide encouragement and reduce feelings of isolation.
Why is the Entrepreneurial Spirit Important?
Embracing an entrepreneurial spirit means being driven, innovative, and resilient—traits that are invaluable in trading. This mindset pushes you to:
Pursue Goals Relentlessly: Set clear objectives and work diligently to achieve them. An entrepreneurial spirit keeps you focused and motivated, even when faced with challenges.
Adapt and Innovate: Stay flexible and open to new strategies and market conditions. The ability to adapt is crucial for navigating the ever-changing landscape of financial markets.
Overcome Setbacks: Bounce back from losses and view challenges as opportunities for growth. Resilience is key to maintaining long-term success in trading.
Create Opportunities: Actively seek and capitalize on profitable trades. This proactive approach ensures that you are always looking for ways to enhance your trading performance.
How to Transition from Demo to Real Trading
Moving from demo trading to real money trading can be daunting, but it’s a crucial step in your trading journey. Here’s how to make the transition smoothly:
Maintain Your Trading Plan: Stick to the strategies that worked in your demo account. Consistency is key to replicating success in live trading.
Manage Risk Wisely: Use appropriate risk management techniques to protect your capital. This includes setting stop-loss orders, limiting the size of your trades, and diversifying your portfolio.
Control Emotions: Stay disciplined and avoid letting emotions drive your trading decisions. Fear and greed are powerful emotions that can lead to impulsive actions.
Start Small: Begin with small investments to build confidence and experience without risking significant amounts of money. Gradually increase your investments as you become more comfortable and proficient.
Review and Reflect: Regularly review your trades to understand what worked and what didn’t. Continuous reflection helps you refine your strategies and improve your performance.
Stay Patient: Don’t rush into making large trades or expecting immediate returns. Trading success takes time, patience, and persistent effort.
Why is Trading Mindset So Important?
Your trading mindset determines how you perceive and react to market conditions. A strong mindset helps you:
Stay Focused: Concentrate on your trading plan without getting distracted by market noise or external influences.
Remain Disciplined: Adhere to your strategies even during volatile periods. Discipline ensures that you follow your plan consistently, leading to better trading outcomes.
Maintain Patience: Wait for the right opportunities without rushing into trades. Patience prevents impulsive decisions and helps you capitalize on well-thought-out trades.
A robust trading mindset not only enhances your decision-making abilities but also ensures that you remain resilient in the face of market fluctuations and emotional challenges.
How Can Taking Initiative Boost Your Career?
Taking initiative in trading can significantly enhance your career by:
Driving Personal Growth: Continuously improving your skills and knowledge keeps you ahead of the curve. Initiative drives you to seek out new learning opportunities and stay updated with market trends.
Creating Opportunities: Actively seeking and capitalizing on profitable trades ensures that you are always making the most of market conditions. Initiative leads to proactive decision-making, which is crucial for trading success.
Building a Reputation: Establishing yourself as a proactive and reliable trader within the community builds your reputation. A strong reputation attracts more opportunities and can lead to collaborations or mentorships with other successful traders.
Enhancing Resilience: Initiative fosters a resilient mindset, enabling you to bounce back from setbacks and stay committed to your trading goals despite challenges.
Are You Ready to Embrace Your Potential?
Believing in your potential is the first step towards achieving greatness in trading. Don’t let fear or hesitation hold you back. Embrace the opportunities that come your way, stay committed to your goals, and take decisive actions to realize your trading ambitions.
How to Tackle Motivation Issues in Trading
Motivation is crucial for maintaining momentum in trading. Here’s how to stay motivated:
Set Clear Goals: Define what you want to achieve and create a roadmap to get there. Clear goals provide direction and keep you focused.
Celebrate Small Wins: Acknowledge and celebrate your progress to stay motivated. Recognizing small achievements can boost your confidence and encourage continued effort.
Stay Connected: Engage with the trading community to share experiences and gain support. Building relationships with other traders provides encouragement and valuable insights.
Continuous Learning: Keep expanding your knowledge to stay engaged and inspired. Learning new strategies and techniques keeps your trading practice fresh and exciting.
Visualize Success: Regularly visualize your trading goals and the steps you need to take to achieve them. Visualization reinforces your commitment and motivates you to take action.
Manage Stress: Implement stress management techniques such as meditation, exercise, or hobbies to maintain a balanced and motivated mindset.
Conclusion: Embrace Initiative to Transform Your Trading Journey
Initiative is more than just taking action—it’s about fostering a proactive and resilient mindset that drives you towards trading success. By embracing initiative, you empower yourself to navigate the complexities of the financial markets with confidence and determination.
In Lesson 2, we’ve explored the significance of initiative, how to overcome fear, and the importance of an entrepreneurial spirit in trading. These elements are essential for building a strong foundation and achieving consistent profitability across all financial markets.
Next Lesson: Discipline – The Pillar of Consistent Profitability
Stay tuned for Lesson 3, where we’ll delve into Discipline, another crucial trait that underpins consistent success in trading. Learn how to develop and maintain discipline to ensure your trading strategies are executed flawlessly, regardless of market conditions.
Hercules Trading Psychology Course is designed to equip you with the mental tools necessary to thrive in all financial markets. By mastering traits like Initiative, Discipline, and Patience, you’ll build a resilient mindset that can withstand the challenges of trading and lead you to sustained profitability.
Here’s to your growth and success as a trader across all financial markets!
$SPY Analysis, Key Levels & Targets for Day Traders for Sept 25
Ok, so I can’t make a video tonight :( My Wifi is down in my neighborhood because they are putting new lines in, and to make matters worse there’s a hurricane coming this way so it won’t likely be fixed until it passes so I can only do as much work as my hotspot will allow
Easy Trading Range here today, much easier than QQQ, lol, that one is a mess… but here we have an easy one… the implied move for tomorrow is between 568 to 574 and the only two levels in tomorrow’s implied move are ATH’s at 572.88 and the 35EMA, which is a clear support since after FOMC…
Personally looking at 575/576 bear call spreads OR 568/567 bull put spreads depending on how we move tomorrow
GL, y’all… I’ll keep you up to date on the wifi situation
$SPY September 25 2024AMEX:SPY September 25, 2024
15 Minutes.
568 was held yesterday.
570.5 was crossed and closed above too.
Long setup activated.
SL close below 569
Moving averages 9,21,50 and 100 have converged in 15 minutes.
200 averages are around 566 levels which should give very good support.
I am expecting a move today or tomorrow.
No time to short yet.
QQQ and SPY comparison in uptrendComparing QQQ and SPY we can that they still both hold up above the support lines.
QQQ and SPY are now showing to hold above their long term downward trend, signaling a turn around
RSI still remains pretty stable on both with only slight weakness on SPY
MACD on both showing leveling off with slight down ward move forming.
Volume is looking to decrease lately
This upward trend breakthrough remains fairly strong so far. Its looks like the down trend we have been dealing with for the past 2 months may be coming to an end now overall. Since we still have October to go through, its certainly possible to get one more sell off before we go into a full bull swing.
$SPY Rising Wedge #Forewarning #2ishWeeksLeftTitle is pretty straight forward... I think we have more Upward chop for 2ish weeks and then mini 5%ish Santa Shakeout before EOY RALLY!
Last AMEX:SPY rising wedge callout was money...
30% GAIN with Break and retest Premarket Low Strategy In this video, I'll walk you through how I achieved a 30% gain using the Break and Retest strategy based on the premarket low. I'll explain how to identify key levels, set up the trade, and manage risk. You'll see the entire process, from analysis to execution, with clear examples of how the premarket low acts as a pivot point for entries and exits. Whether you're a beginner or experienced trader, this strategy could help you make smarter trades and capitalize on market movements. Watch until the end for tips on improving your own day trading setups!
SPY: Pay close attention to these key points. (1H / D Charts)Daily Chart:
Polarity Change: The previous top at $565.16, which was earlier acting as resistance, now serves as a strong support. This follows the principle of polarity in technical analysis, where resistance often transforms into support once broken. The price has successfully retested this level and bounced, affirming its significance.
Price Momentum: The SPY has been showing continued bullish momentum since August, and the current price action reflects a consolidation phase just above the $565.16 support. This suggests that traders are considering this level important for further upward moves.
1-Hour Chart:
Trend Line Support: The 1-hour chart shows a clear upward trend, with the price following a rising trend line, which acts as support. This trend line has been respected at least twice, showing the strength of the uptrend on this shorter timeframe.
Gap Closed: The chart also highlights a gap that has been closed recently, which may reduce volatility and uncertainty, potentially adding to the momentum for continued upward movement.
Immediate Resistance: The price is seeking the next resistance around $572, which aligns with the ATH resistance on the daily chart. A break above this level could lead to further continuation of the uptrend, potentially targeting new highs.
Conclusion:
SPY is currently in a bullish structure with strong support at $565.16. The 1-hour chart’s rising trend line offers additional confirmation that the uptrend is intact. A breakout above the current resistance at $572 could propel SPY higher, while a break below the trend line or $565.16 support would signal caution. Therefore, the $565 area is the most important support level for SPY, and a potenttial turning point, if lost. For now, the momentum remains positive as long as these support levels hold.
For more detailed technical analyses and insights like this, be sure to follow my account. Your support helps me continue providing valuable content to help you make informed trading decisions.
Remember, real trading is reactive, not predictive, so let's stay focused on the key points described above and only trade when there is confirmation.
“To anticipate the market is to gamble. To be patient and react only when the market gives the signal is to speculate.” — Jesse Lauriston Livermore
All the best,
Nathan.
SPY bearish pitchfork analysisSPY reached the red (middle) pitchfork line which is likely to act as a resistance line. See my last, related SPY idea and SPY fell after reaching the same line.
280% Last Week...Here's the next oneAMEX:SPY
Pennybois weekly options. Two weeks ago we gave you the $555 CALL 9/27 with a break over $500. ($460 -> $1763)
Remember, we are preparing for both sides of the equation. The chart will show us what to do. 15 minute candles CLOSES for confirmation.
Short-term Range: $568 to $572 ($570.36 mid-point)
$538-$545 is an accumulation zone. Shay is leaning bearish to retesting September lows but doesn’t think we will fall below $510. Low volume yesterday. September and October can bring some “wonky things”. Great time to get some cheap hedges. Polarity at the election. Chips off the table until clarity into the market?
$570 CALL 10/11
Retest & Close OVER $568
Targets: $570, $572
$570 PUT 10/11
Rejection & Close UNDER $572
Targets: $570, $568
SPY/QQQ Plan Your Trade For 9-24 : Counter-Trend BreakawayToday's counter-trend Breakaway pattern suggests the markets will attempt to move downward (counter to the current Bullish trend) and attempt to find support.
I believe the downward price move in the SPY will target the 565-566 level for a low today - setting up a solid reversal rally phase going into the rest of the week.
We didn't see much downward trending yesterday - so, today could be the day the markets attempt to flush downward a bit.
I'm still urging traders not to overreact to this minor downward price move (potentially today). My analysis suggests the SPY is still on a path to target 595-605 before Oct 10th or so.
Gold/Silver will likely move downward today - setting up a nice base before the next rally phase higher. The strengthening US Dollar will continue to put pressure on Gold/Silver - but I don't believe the US Dollar will rally above 102 at this point.
BTCUSD appears to be rolling over into a consolidation phase. I believe we could see $60k to $62k before the end of this week as a base/bottom.
Now if not the time to be foolish. Just sit back, time your entries, and prepare for the next rally phase in the markets.
Get some.
#trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
SPY - Tri-Star Pattern Bearish - About to Find OutVery interesting pattern showed up on the charts at the close of yesterday. Initially we had a shooting star, but three in a row? Very Rare indeed tri-star pattern which may sound cool but it is simply a random pattern.
Does this imply a bearish reversal here? Nope!! Do not get too caught up in patterns that randomly appear vs orderflow which is a much better indicator of markets. So where are these levels?
For bulls, need to clear 572 and sustain. This has been an area of selling or where buyers simply dry up.
For Bears, do not want to see 567 given up. Again this is the area where buyers have been stepping in and sellers dry up.
In short, this pattern simply is a result of many market variables. Shorts covering, reallocation of positions, some hype that we had a soft landing, blah blah blah and blah!!! Do not try and put a rational to why the market moves.
Many I am sure are asking, "Goldbug why are you still holding your short, it must be more painful then Kamala's knee pads at a fund raiser?"
Yep, down like $2800 for the trade, but I am looking for confirmation that the market is really breaking out, or that this is simply a fake out. So we get a close above 572, and the next move takes that out, well I'm out.
All to often newer traders will get cold feet and close out a trade right before the move happens. Yep I've done it, still do it once in a while, but over time you tend to stick more to your analysis and wait for confirmation you are wrong.
Going to update Bitcoin as well, it seems relatively bullish here, but maybe not so fast.
On a positive side OLED META and BROS are doing well for us!!
$SPY September 24, 2024AMEX:SPY September 24, 2024
15 Minutes.
Looks like consolidation was done yesterday.
For the fall 572.88 to 565.17 AMEX:SPY retraced to 570 levels which is 61.8% retracement.
Now we have a range fixed.
Sell below 565 and buy above 570.5 as long as the bar is closed near bottom or top on that breakout.
Also, in for the rise from 565.17 to 570.34 AMEX:SPY retraced yesterday to 568 levels which again represents 61.8% retracement for that rise.
Bias is towards long.
I will go long above 570.5 levels based on closure.
I expect a gap up so as usual may not get a chance to enter.
I will wait for first 15 minutes in case of gap up before taking long.
Target 574 to 578 levels for the Fib extension as drawn in chart.
SPY TA for 9/24/2024For tomorrow's trading session on SPY (S&P 500 ETF), the overall sentiment appears bullish, though some caution is warranted given overbought conditions on several indicators.
Key Price Levels:
Resistance: The major resistance level to watch is around $572.89, which aligns with the recent highs. This will be a crucial test if the bullish momentum continues.
Support: Immediate support is around $565.19, followed by a stronger support level near $559.90, which could act as a safety net if the market turns bearish.
Technical Indicators:
Moving Averages: The 5 and 10-period moving averages (both simple and exponential) are giving strong buy signals, which suggest continued upward momentum in the short term.
RSI (14) is currently at 59.15, indicating that SPY is in the neutral zone but edging closer to being overbought. This suggests there is still room for more upside before entering overbought territory.
Stochastics (9,6) and StochRSI are both in overbought zones, which could signal a potential pullback or consolidation if these conditions persist.
The MACD (12,26) is in buy mode, showing a positive momentum shift that could support further gains.
ADX at 25.7 is signaling a weakening trend strength, so while the current uptrend remains intact, it may not be as strong as earlier sessions.
Volatility: The ATR (Average True Range) is low, indicating less market volatility, which may result in more stable price movements.
Market Sentiment:
Barchart data shows a consensus toward a bullish bias with "Strong Buy" signals from both moving averages and technical indicators.
However, some indicators (like Williams %R and CCI) also point to overbought conditions, which could lead to a brief pullback before another rally.
My Thoughts: Given the positive momentum, SPY is likely to test the $572.89 resistance level during tomorrow’s session. However, the overbought signals mean a slight pullback or consolidation is possible, particularly if SPY cannot break through that resistance. If SPY pulls back, the $565.19 support should be a critical level to monitor. If breached, the next key level to watch would be $559.90.
For tomorrow, if you're looking to trade the open, consider:
A buy if the price action stays above $569 with strong volume.
Watch for a potential rejection around $572, which could lead to a short opportunity targeting $565.
Be cautious of low volatility, as it may indicate smaller price swings that could make scalping less effective.
This information is provided for educational purposes and should not be considered financial advice. Trading in the stock market involves significant risk, and you should always conduct your own research or consult with a licensed financial advisor before making any trading decisions. Past performance does not guarantee future results. Be aware of the risks associated with leverage, margin, and short-term trading strategies such as scalping. Always use proper risk management techniques to protect your capital.
Bearish flip imminentThe 3h is currently bullish, the recent BOS suggests that I can expect the 30m to flip bearish to facilitate the 3h swing pullback. On the other hand, the internal bullish flip on the 5m chart after mitigating the 30m demand zone gives a high probability of price taking out the weak 30m swing high. We'll continue with the bullish structure until the 30m flips bearish, indicating the start of the 3h pullback
