going over price action for the day Wednesday April 24th looking for clues to what the market is telling us. trying to put together the entire big picture to form our plan and take the right trades being on the right side of the market.
It sure seems that way. 5126 was the level where buyers would become sellers. It took sellers to become buyers in the first half of the week. Now, I think the market is weakened. Pre-market analysis will be key for trading in the next couple of days. Not a ton of setups today but, just enough to keep the degens going :D
I said yesterday that it would get overbought today and go down. Well, here we are. Made a little money with puts like I said I would. Indicators now neutral, META earnings probably dictates gap direction tomorrow. Just gonna stay cash and take potshots at the market with options. I'm guessing MFI will cycle fast like it did a a couple of weeks ago, just...
Going over the morning/lunch hours price action looking for clues as to what the market is telling us.
Looks like it'll hit overbought on MFI and/or RSI tomorrow, have an exit plan.
HOW MANY TIMES DO I NEED TO SCREAM 6 1 8?? Short off the PRE MARKET HIGH it's all in PLAIN sight! Never chasing always LOOKING FOR PREMIUM entries OVER 1k in profits SHORT when others BUY and hunt deals! I will PAY IT FORWARD
Trading Plan for Wednesday, April 24th, 2024 Market Sentiment: Uncertain, with bulls maintaining control after yesterday's rally but price action becoming more complex after a trend day. Key Supports Immediate Supports: 5095-5100 (major), 5082, 5076 (major), 5067 Major Supports: 5056 (major), 5047-45 (major), 5027 (major), 4996-5000, 4966 (major), 4945-49...
going over the price action after yesterday's trend day. looking for clues and the plan for today's morning session.
Out buyside target from yesterdays related analysis, ESM2024 5121, got in fact hit overnight :)
Buyside at 5095 has been taken. If we do not drop hard from here and the candles body on the 1h closes above 5102, we think that the next upside target will be 5021 in ESM2024.
The **S&P 500** index has recently confirmed a **head and shoulders** topping pattern, which suggests an **exhaustion of buyers**. Let's break down this pattern: 1. **Head and Shoulders Pattern**: - The head and shoulders pattern is a classic price pattern that indicates a potential reversal. - It typically consists of three phases: **setup**, **trigger**,...
Going over Price action for Tuesday and the last few days. looking for clues to what the market is telling us.
While I left some on the table, I am happy with my wins. In the last week my win percentage is sitting around 90%. I have avoided over-trading and focused on doing things the right way. today, we saw a bunch of setups. Most worked but, some did not. The market has been very technical lately with very little tricks.
Earnings may push the S&P 500 higher on Wednesday. 5135 would be the next price objective that you'd want the market to close above.
The " Volatility Valuation Index " proved to be quite reliable ... again.... Mind you this is a SETUP tool, to locate EXTREMES in Volatility. It is NOT a SIGNAL tool, to be used for entries / timing. That said, its accuracy sometime can be impressive. But even under these circumstances, I do not use it as a timing tool (Works across all markets & timeframes)
going over the Morning RTH session ES looking for clues and reflecting on how we traded the open.
**SP500:** The price is expected to fall to the zone between 4854 and 4831.
ESM2024 long trade, stop and take profit in place as seen on the chart. This is no financial advise! Do not risk real money on any idea published by us.