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Falsebreak

S&P 500 Just Held a Potentially Key LevelThe S&P 500 is down again this week, but it’s trying to stabilize. Looking back to the left of the chart, a potentially important level could be in play. 3214.68 was the low on January 31. It was the last meaningful support level before the coronavirus panic swept the market in late February. Scrolling back to an intraday chart from that fateful time of February 24-27 highlights the importance of the 3214.68 level. The S&P 500 held it almost exactly on the Monday (24th). Then on the Tuesday (25th), it knifed through it and didn’t look back. Yesterday morning, the S&P 500 probed under that same level but quickly rebounded. That could be a false breakdown, leading to a potential reversal higher. The 3214.68 level from late January has mattered at other times since the crash. It was near the high in early June. It was resistance July 13-17 and then support July 24-30. TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
SP:SPX
by TradeStation
30
Tesla False Break Out | Prijs Weer BullishIn de post van gisteren zei ik dat het waarschijnlijk is dat Tesla naar de support van 900 usd zou gaan om twee redenen. 1: Tesla brak bearish uit de descending triangle. 2: De prijs zat onder de 21 ema. Wat nu echter is gebleken, is dat Tesla vandaag hoger opende dan de close van gisteren. Vervolgens zit de prijs boven de resistance van de 21 ema en de triangle. Dit zorgt er dus voor dat we onze mening moeten veranderen van bearish naar bullish. De data verteld ons namelijk dat de analyse van gisteren niet juist was. Wat je wilt voorkomen is dat je als trader je koppig gaat houden aan je eigen analyse. Wat je wilt of wat je denkt wat gaat gebeuren, is soms anders dan de realiteit. Accepteer die realiteit en zorg ervoor dat je direct klaar staat om een goede trade te maken, ondanks dat je analyse onjuist is verklaard door de data.
NASDAQ:TSLALong
by VinanceYT
AUDCAD Short Term ForecastD1 - Bullish trend pattern. The price has reached a key resistance zone formed by the 161.8% (0.96314) fibonacci expansion level of the first wave and the 61.8% (0.98591) fibonacci expansion level of the second wave. Shooting star candle pattern, potential bearish divergence. Expecting corrections to happen now. H4 - Engulfing candle pattern. The price has created a false break of the wedge pattern. Expecting the price to continue lower further in the short term.
Short
by VladimirRibakov
4
False break for the EuroAre we looking at a false break on the Euro USD according to the Indicator we are trading along the top 1% of price movement at the 3 standard deviation meaning we could be looking at a quarter high with that we are also above 1.100 which was a key level to start looking for move in price action we may see parity which would have this pair fall to 1.00 before the market makes its decision on its next move. But we face a high probability that the down ward pressure in this pair is here to stay Targets: Short at 1.100 Exit at 1.00
Short
by RobinhoodFX
1
USDJPY ForecastH4 - Price respected the key support zone formed by the 106 psychological zone, alternative trend line, and the 61.8% (106.371) fibonacci expansion level of the first wave we have. We also had a false break of the alternative trend line and the last low, bullish divergence. The price has also broken above the downtrend line and has created higher highs. H1 - Bullish trend pattern, currently it looks like a pullback is happening. Bullish hidden divergence. Expecting further continuation higher after pullbacks.
Long
by VladimirRibakov
SP500 Short Term ForecastH4 - Triple cycle to the downside completed, price is holding above a strong support zone, false breaks with bullish divergence. Downtrend line breakout, we may now expect possible short term retraces to happen. H1 - Bullish trend pattern, until the buy zone holds my short term view remains bullish here. Invalidation - If the price breaks and holds below the 61.8% fibonacci retracement level then this short term bullish view will be invalidated.
UShort
by VladimirRibakov