AdvancedPlays

05:55

AdvancedPlays

There's a lot going on this week with the election and FOMC among other things. Here are some key levels I'll be watching and what I expect to be influenced the most.

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I wouldn't say this is the most important level for SPY, but it seems pretty significant for the rest of the session. I'd be wary of chop around this level, but it could make for a good long or short if it can move off of it a good amount. Short term upside target = $575 Short term downside target = $565 If it can hold here I'd consider it rangebound between $568 - $575

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AMD went from having a strong bull flag breakout to back down below the last retest of the descending channel. It's always even more bearish IMO if you have a fake out like this. We also have a shorter term bear flag break. Will be looking for a break and retest of the primary uptrend below, or if it holds it could work as a long if it holds the $130-$132 area....

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Pretty significant channel break here on MSFT. This is the uptrend from January and it may be coming to an end if it can't recover soon. We also have a shorter term uptrend/bear flag on the 15m that has been broken to the downside as well. Doesn't look good IMO, first downside target is around $390 - $385.

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NVDA has been consolidating after making a new ATH and pulling back. Here on the 4hr we have a broadening wedge and a bounce at $131.50. Key area is gong to be right around here to all time high. Bullish above and bearish below. Quite bearish IMO if it breaks below the wedge and below $131.50. $131.50 is a great spot to long at or short on a break. ATH may be a...

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This is the best thing I see in the market today. High probability that silver bounces here at least once. It's the previous swing high which has provided significant movement on prior tests. Tight stop below with a target of the recent high.

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It's a bit of a bloodbath today for tech, but NVDA is coming right back into support after rejecting at ATH. Should be a key area to determine direction, I'm leaning towards a bounce but it's rough out there right now. Either way, decent setup here. Both the long and short have good R/R. Long here with a stop below $131.50ish, or short on a break and retest with...

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Big move up for the mag 7 this morning, but has fallen off. However it is just now retesting a critical supply area and previous ATH. It's interesting to see this break and retest right before the rest of the mag 7 reports earnings. Could go either way, but for now I expect a bounce and new ATH after.

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Big move and breakout for DJT recently, but it has pulled back quite a bit. If it wants to keep coming down I'll be interested in longs around the $38.65 area. It is near a gap fill and key support/resistance level. Still has a way to go to get there but I'm watching.

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Small breakout for XRP on the 15m. Should be good for a move up to the previous swing high around 30. Ideal entry would be on a retest of the bull flag with a stop below.

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AAPL is sitting on trendline support right now. It has held on every test so far so looking for it to hold again and potentially make a new ATH after. If it's a bearish break, we have some other levels below we can short on a retest. My bias would be long for now, seems like a good area to get long exposure in anticipation of a move to ATH. Pretty tight stop too.

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Big pop for SNAP after earnings, filled the gap above this morning and has stalled since. Watching the $12.71 area for direction. If it remains below, downside target is today's gap. If it breaks above, would be looking for longs on a retest in the future.

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Big oof for AMD after earnings, but perfect retest of the channel/triangle breakout this morning. If it can maintain, I like the long up to fill the gap at least, next targets after that are $187 and $215 from another idea.

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COIN had a bull flag breakout recently and held on a retest last week. I like longs in this area around $200 with a stop below trendline support. BTC is on the brink of a monster breakout so we can expect COIN to follow if it manages to do it. First target is going to be the recent high near $220 and then up to the $230-$235 area. Downside target would be $195 if...

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NFLX is sitting at trendline support now on the 15m. Nice consolidation after the big earnings move, we should see a good move either way. For now I like the long side right in this area with a tight stop below. Could look for shorts on a retest if it breaks, but if not targeting the top end of this wedge/ATH.

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Just a 15m chart here but I think it's important for action early this week. Futures are up overnight so far so if that holds I'll be looking for SPY to open around or above $580.86. If it can open above, will be looking for longs on a retest in addition to potential support on the trendline below at the same time. That'd be ideal, but if it can't reclaim $580.86...

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This is basically the same as the SPY idea. I have a longer term short idea for NQ, but here's a shorter term chart for the potential move up to my short target. Watching the $495 area along with the ascending channel. We could get a move below that bounces at the gap fill at $492.80, but if it remains above $495 I'd expect a move up to ATH.

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This is basically the same as the SPY idea. I have a longer term short idea for NQ, but here's a shorter term chart for the potential move up to my short target. Watching the $495 area along with the ascending channel. We could get a move below that bounces at the gap fill at $492.80, but if it remains above $495 I'd expect a move up to ATH.