BensStocks_

BensStocks_

Here I cover the inner workings of volume profile and how you can spot trading opportunities observing the monthly profiles, enjoy!

BensStocks_

EV sector showing weakness. Allow me to reiterate that $XPEV as well as $NIO will react to $TSLA earnings Losing 200 day EMA Symmetrical triangle formed

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Sideways price movement around HVN/POC- basing for a directional move $28 macro support failed to hold $25.50 support 

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$NIO is trending in a downward channel Lost key $28 support Bearish continuation pattern EV sector will react to $TSLA earnings 

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Sideways price movement around HVN/ POC- basing for a directional move Take caution around $147.9 level, we must see initiative action below $152

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Head and Shoulders pattern formed Trading below 200 day Sell bias below $152 level

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Weekly 200 ema MUST be reclaimed Again, $70 must hold for bulls to have a shot at a reversal this week .786 retrace confluence with $60 support level

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A=C extension confluence at $70 support level If $70 fails to hold, $60 test will follow Cheap can always get cheaper

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With a gap to fill to the upside, $LCID looks ready to visit $45 rather quickly. I will be playing the $43 level if the opportunity presents itself for a long at that price. Respect the levels. Support: $41.00, 21 ema Resistance: $42.00, $43.00, $45.00

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After $TSLA crushed their Q4 delivery numbers, the EV sector started to heat up again. $LCID put in a higher-low at the .5 retrace ($36.93). Price is also above the 21 day ema and we are not setting up for a bullish 5-21 ema cross. Support: $36.00 Resistance: $45.00

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Respect the levels.  Support: $24.50, $24.00 Resistance: $25.50, $26.00, $27.00

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The growth sell off has made way for other sectors to shine. $X above $26 could provide a great long opportunity for a swing to the Wave 3 target at 1.618 extension ($33) Support: $24.00 Resistance: $26.00, $28.00

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The micro time frame of $QQQ is showing no signs of a reversal. $386 is looking like a high probable short opportunity. $QQQ needs to make a higher low above $380, and then take out $386. Play the levels to both the long and short side this week. The market can do whatever it wants, so it is important to be ready for both sides of a predefined level. Wait for...

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$QQQ has been trading in sideways range since making an all time high at $408.71. If $380 can hold, there is a good chance we get a retest of upper levels. With that being said, these levels play both ways. $QQQ below $380 would be a great short and I will certainly be watching for this opportunity if it presents itself. Support: $380.00, $378.00,...

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As mentioned above in last weeks post I was expecting a reversal off of $93, and while the bounce did happen out of my projected buy zone, it was met with relentless selling pressure once reaching the $98 level. Price is still in an overall downtrend, but as we approach the key $80 level I am certainly watching for a bounce out of the demand zone depicted in the...

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The Elliott Wave Count proposed here contains very bullish structure and offers huge upside potential The 5 wave structure to the upside suggests a corrective move is to follow. A long out the 'dec poc' level along with the .618 retrace confluence is a very high probable trade if $RBLX cooperates.

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What a lovely bull-flag formed on the daily/4hr time frame, along with a nice 'B shaped' volume profile for the month of December (indication of buyer presence). Bull-flag + ABC correction + .618 volume profile confluence + 21/200 ema chanel = A+ setup.

BensStocks_

After wicking into all time high supply, a head and shoulders patterned has formed suggesting a move to the downside. $92 is the key level here. This is a price you can play long and short off of. The directional movement of $MU will depend on the overall strength of other semiconductor names, this could easily make new highs in the following weeks of January.