Interesting CRYPTOCAP:BTC channel dissection for future trades if you decide.... How they are found is one thing...how well they show support/resistance is more important.
https://www.tradingview.com/x/YSNJq6Wj/ Tomorrow is a brand new year. Rest a day. I also slow down to trade today. Get a intraday. Win or Loss, up to GOD's plan
? ⏰ 9:00am S&P/CS Composite-20 HPI y/y 1️⃣ GAP ABOVE HPZ: If we do gap up definitely be bearish 2️⃣ OPEN WITHIN EEZ: There is a slight bullishness left but I think that goes in the premarket, trade the futures if you want, but I do believe that the last trading day will be a V shape 3️⃣ GAP BELOW HCZ: Once again will cause a mechanical bounce #trading #stock #stockmarket #today #daytrading #swingtrading #charting #investing
H&S, Gap, look for a short term fall to around $210
It seems like Tesla reacts to the anchored VWAP on 11/06/24, the day Trump was declared the winner. I believe if the market continues to trend down I think we can see some possible support lines.
https://www.tradingview.com/x/7qjrtDiP/ I am not sure how's the market today, because it is new year tomorrow I try my luck to do a intraday, Entry 1.43, TP 1.50-1.55 If no luck today, also ok. I am aiming TP 1.63-1.73
Just now opened a short position on this altcoin. Seems like its gonna have a weekly correction. Bitcoin also falling so I think that's good confluence in-terms of correlation. Its bullish on weekly and daily but bearish on 4hr and lower timeframes. Am aiming for .18 Could fall lower but might get some reaction there and am satisfied with a 4r given it plays out.
Long trade gicen by algo. When/if 1st target is reached, i will move my stops to breakeven
As evident on the chart, the correction has concluded at the 50-61.8 Fibonacci retracement level. Additionally, the price is breaking out above a descending trend line and a minor resistance level. In my opinion, once we receive confirmation of a breakout above this level, it may present a compelling buying opportunity. Potential upside targets are approximately 28 and 30. Be sure to set a stop loss in accordance with your individual trading strategy.
Well folks, Things are interesting now so I am back. What is the interesting thing? Well, the S&P, specially SPX, is en route to hit its log bull market trendline: https://www.tradingview.com/x/Oh8aIkJV/ Here is the zoomed out look: https://www.tradingview.com/x/XajF2TXC/ This is on the log scale. While you can technically do it on the regular chart, the trendlines would become, what Bullkowski calls "internal trendlines", meaning that they will overlap and intersect with candles a bit more intrusively. According to Bullkowski this is fine, but to many its a problem haha. But let's entertain this for a second because if we do, it makes it even more interesting: https://www.tradingview.com/x/44E7QhIY/ With log turned off, we have actually made contact with the bull market trendline! What is a bull market trendline? Again, it is a term I learned from Bullkowski (the only none quantitative producer of stock market analysis content that I actually consume) but these trendlines mark existence of bull markets and bear markets. There are bull trendlines and bear trendlines. Whenever there has been a bull market, there has been a bull market trendline. Whenever there has been a bear market, there has been a bear market trendline. Here are some general examples: 2020 - 2022 https://www.tradingview.com/x/GjTnmaam/ You can see we started signaling some weakness in August and in September it lost the primary bull trend. There was a secondary bull trend that was not lost till 2022 bear market commencement. And now a bear market trendline: https://www.tradingview.com/x/Ct4aTlIq/ Anyway, back to here and now, its interesting right? If we turn off the log chart, its make or break at this point. We continue down and we lose it. SPY has already lost its immediate trendline as you can see in the primary chart. So its all very curious. From a purely quantiative, comptuer model projected outcome, here is the bullish case (Green), Bearish Case (red) and the average of both cases (Yellow) as plotted by a computer modeller: https://www.tradingview.com/x/nVh4BzVc/ Bearish case has us making new ATHs very soon. Bullish case has us not making any new ATHs until Approx April 2025. If you caught the conversation in my last idea, you may have seen that currently, the model foretells a cap on the year of 608, but with 1 more day to the year it seems irrelevant now. So are we going into a decline? Perhaps. My original idea hypothesized a superficial cubic correction which is still a possibility. It is a very interesting time though, as we will be heading into a new presidency into 2025. And there are a lot of economist concerned about the presidency. Let's talk about the new presidency for one second: My initial interpretation was this current president would be okay for the economy, but a huge majority of economist are rining alarm bells. There are already plans for large international tariffs, especially from China (goodbye NVDA who historically gets about 12% of their revenue from China), goodbye BABA, FXI, and the lot. Not to mention the USA relies heavily on Canada for gas and Oil imports and I don't think the US plans on sparing tariffs on their friendly Eh-Neighbours. So expect energy stocks to suffer, specifically ones like Suncor, ENB (Enbridge) and alternative energy sources like CSIQ. There are also food imports, from various countries inclusive of Canada. The US traditionally imports a lot of beef, meat and grains from Canada. So it will be interesting to watch futures in livestock and grains. How this will impact the market I am not sure. I just spent time reading economists articles about concerns over the new presidency, but I haven't actually taken time to read the impact of high international tariffs. I just know that it generally hinders productivity and economies but not sure of the direct effect on markets. I am sure we will all find out soon though ;). These are all new things that weren't accomplished during the previous presidency, but will more than likely be implemented now. Another concern that was raised in various articles was previous concerns about the US leaving NATO and just a general increased in international conflict and lack of global co-operation. If these claims are true and this is the reality of the situation, then it will for sure manifest in some way, shape or form in the stock market. Like I have said in a previous post. I have traded this presidency before. It was not all up. In fact, it was why I was a permabear, because I was indoctrinated into day trading (I started during the previous presidency) into a nice bear market correction. So unfortunately, this is all just me spewing rhetoric that is meaningless without: a) Actual information on how public policy will change upon inauguration; and b) Seeing how the market appraises the tariffs, potential global conflict and other claims discussed by economist and analysts. I just aim to give food for thought because I honestly have no idea. But the market will be clear in its path. It will either go up, or it will go down. (Groundbreaking discovery I know). I more just want to share what I have read (and unfortunately I don't think I am allowed to link the articles I used for this, but you can simply google "trump and economy" and "market analysts for trump presidency" and you will probably find the slew of articles I reviewed prior to writing this. But analysts are usually wrong and devoid from reality. So in the true Steversteves fashion, let's just see what happens. If we lose this trendline, next chart support is at 572 (heikin ashi based). Losing the trendline and starting a pullback, actually is the bullish outcome according to projections. Let's quickly revisit: https://www.tradingview.com/x/7IBBuped/ I know this kind of a bit bearish in general, but it would be a normal corrective cycle in the grand scheme of things that would quickly get back on track. The corrective cycle of the bullish trend is only forecasted to last a max of 2.5 months, and puts us as snagging back to ATHs within the next 3 to 4 months. So not terrible and not incredibly bearish. If we go up to ATHs soon, then the outlook is much more pessimistic. I won't visit that version yet because I don't believe we are there (albeit its just my opinion). So just to recap the jist of the idea: As of now, what we are looking for is a correction and then continuation up. Continuing a decline from this point here would be the bullish case, with continuation back up happening within a few months or so. If we continue right up from this point, snag a new ATH in a matter of days, then we are looking for a more sustained, dare I say, bear market outcome in the coming year. For here, we will be looking for a sustained decline into 2025 that will not quickly recover. Again, these are just model projections drawn from previous similar behaviour. Things considered in the model are: a) rate of return, b) trend velocity, c) general appearance of the chart, d) overall period return. This is then compared to historical data to find the most similar situations that lead to bullish and bearish outcomes. Shorter term outlook: This is a longer term idea. I know some of you miss my weekly short term idea with the high prob targets and such, I will get back into that in the new year. I can't give those targets now (unless you're in my group ;) wink wink haha) because of condensed weeks. We have had a condensed week last week and a condensed week this week and the targets aren't designed to work on condensed weeks. So they are hit or miss. Otherwise, I would be sharing them! But I will say ES1! and NQ1! have some bullish ones for the week. But we have to hope that we don't see a crazed bullish recovery into EOW because it is likely a bearish sign for the longer term. Thanks for reading everyone! Safe trades!