Interesting how pivot points shown using Gann Fan are working out.
How to use Gann Fan:
1. Set bar ratio to 1
2. use angle tool to figure out 45° degree
3. use swing high and previous swing low
4. 1 hr charts or higher, no 10min fans
Thanks for checking this out.
Even with rising cases everywhere in America, I believe that we can hit all time highs again.
IF ES / SPY passes June High (3231) I see a move to the next fib line around 3400
Not sure about the time frame.
Sold the top, entered no positions for the weekend (because I just don't play that game).
Either looking for a second leg down or a gap up come Monday, and I couldn't tell you which way.
It's obeying levels for now.
Will the fed keep pumping and the world open leading to 310, 320 SPY? Sure whatever.
Keep in mind a gap fill to $285.78, I'm considering that play a week or two out but I haven't opened any positions as of today 5/27.
TA keeps working out unusually well on S&P, leaving this strategy as neutral due to buying calls and puts on the same day.
Next two trading days I am bullish on S&P.
There is a rounding top but also we saw a bounce from the fib channel. This leaves ample room for growth under the top.
RSI close to oversold.
Thanks for coming.
Euronav NV engages in the transportation and storage of crude oil. It operates through the Tankers and FpSO (Floating Production, Storage, and Offloading Operation) segments.
Euronav reports earnings May 7th
Relatively strong (High Timeframe) support/resistance lines
High volume since October 2019
Looks like it's ready to head to the next resistance line
SPY continues with lower highs, with stimulus package coming "soon" we are looking at a possible change in direction
Personally I'm not sure the bill is enough or has enough consumer protections to help the market out, or that a slush fund designated by the president will enrich anyone other than himself.