Technical_analysis
USDJPY retracement at the highAfter a few indecision candles at the high, followed buy a volume push up to a major resistance, I became alert that a bearish setup might present. Friday closed off with a variation of a bearish engulfing. When price closes beyond a price then closes right back beneath it its a sign that this price is being rejected. Naked analysis tells us that the 1hour chat has already began its downward momentum. A minor double top formed. My short entry was based on the high volume bearish engulfing re-test at the neckline. The 30MIN chart has begun creating its lower highs and lower lows. This is a short scalp. the buy will likely present later in the week.
2/13/2023 Upcoming SPY and Market diveIn this Video I discuss upcoming events quickly, then dive into the weekly analysis of the SPY ETF which is a good proxy for the S&P500 that is often a tell on general market movements. We also discuss some recession indicators, and some pattern analysis. Also dont Forget CPI is released on the 15th.
You can jump to the below links and hit the play from the dates submitted and it will play out the bars from publishing until now. I will keep this going so we can follow outcomes to analysis!
Weekly Watchlist 2/7 - 2/11Check out what stocks we are looking to trade this week!
NASDAQ:LULU
Looking to take a breakout over the $355 level
Targets: $360, $365, $370
NYSE:TGT
Looking for a break of this wedge pattern and a move over $223
Targets: $224, $225, $226, $228
Keep in mind I will not be taking these trades if AMEX:SPY is still range bound between $453 & $444
Weekly Watchlist 1/31 - 2/4 Here is a couple of things we are looking to trade this week.
NASDAQ:MRVL
Nice Hammer Candle off the 200sma
Taking a move over $67 with targets of $68, $69, $70
NASDAQ:TSLA
Another hammer candle off trend and the 200sma
Taking a move over $860 with targets of $865, $870, $875, $880
How to add an Indicator to you ChartsSomeone asked a question on how to add a trend-line indicator to their chart hence why I made this visual tutorial, so now you can try it out yourself too, it can show you good channels if you try different time-frames.
This is what I used previously until I discovered an even better one. Trend indicators are very useful to incorporate in your technical analysis.