I was pointed to this inverted head and shoulders last night and it's almost too perfect. You can look at the structure and the neckline (slightly declining) and it's perfect. Well, we just kinda broke out yesterday. Chances are you can get a better entry from here if this is what you want to play. It may (and probably will) chop back under this important...
In this article, I will dive into the price action analysis of NVIDIA (NVDA) and explore its recent movements, highlighting key milestones, and providing insights into potential future developments. NVDA has been a subject of considerable interest among traders and investors due to its impressive performance and the formation of significant patterns. I will...
I'd like to dive into the recent price movements of Bitcoin, focusing on its encounters with critical resistance levels, and explore the implications of a series of lower highs and lower lows. While facing a corrective phase, Bitcoin continues to present opportunities for cautious optimism. I will examine the significance of the descending channel, discuss the...
As an avid observer of Apple's stock performance, I've been closely monitoring its recent trajectory amidst the ongoing battle between investors and short-sellers. In this article, I will share my insights on the stock's current situation and provide a target range of $173-$175, with a potential extension near $178. However, it's crucial to exercise caution, as...
Bitcoin has been under significant pressure since its all-time high in November 2021, trading within a downtrend channel and facing major resistance levels. As we approach a pivotal moment, Bitcoin's future price trajectory is becoming increasingly uncertain. This update will provide an overview of the current technical analysis, discussing the potential outcomes...
Apple Inc. (AAPL) has been a major player in the technology industry for decades. With its innovative products and constant growth, it has consistently attracted investors looking to gain from its success. In this update, I'll dive into the recent breakout of Apple's stock from its previous channel, the potential for further growth, and the need for caution in the...
Selling covered calls is a popular and relatively conservative option trading strategy. This guide will walk you through the process of selling covered calls, using a real-life example with FRC stock, to help you understand how it works and how you can profit from it. Step 1: Buy the underlying shares First, you need to own the underlying stock. In this...
Hey everyone, I wanted to give you all a technical update on the S&P 500 (SPX) as it's been moving sideways for a few weeks now, and it seems like it's not done yet. With a lot of options expiring today, we might see some volatility soon, but let's consider what the majority is currently thinking. According to the American Association of Individual Investors...
As a trader, keeping an eye on market trends and understanding how to interpret them is crucial to making informed decisions. In this article, I'll explore the price movements of the S&P 500 (SPX) futures since the beginning of February 2023. Whether you're a beginner or an intermediate trader, this analysis will provide insights into the market's behavior and...
In this article, I will discuss the head and shoulders reversal pattern observed in NVIDIA stock. Recently, the stock has experienced a significant uptrend, rising approximately 48% after the completion of a larger inverted head and shoulders pattern. However, recent price action on lower timeframes suggests a smaller head and shoulders pattern is forming,...
The inverted head and shoulders pattern is a popular and reliable technical chart pattern used by intermediate and advanced traders to identify potential reversals in market trends. This guide will provide a step-by-step approach to trading this pattern, covering key concepts and actionable strategies. Understanding the Inverted Head and Shoulders Pattern The...
In this article, I'll explore the recent decline in the Nasdaq 100 (NQ) index from the 13,200 level, focusing on its corrective nature and potential implications for short-term price action. By examining the 15-minute timeframe chart and considering the impact of tomorrow's scheduled economic release , we can gain insights into possible market moves and make more...
As an enthusiast in the financial markets, I recently had an idea about the trajectory of the S&P 500 Index (SPX). I wanted to share this with those who might be new to investing and could use some guidance. This explanation is tailored for beginners, so don't worry if you're not well-versed in market jargon. In early March, I observed that the SPX was hovering...
In this idea, I will dive into the fascinating world of Fibonacci time cycles and how they relate to price action as the cycles reduce to zero. We will examine the current correction in the S&P 500 (SPX) index from the perspective of the 2008 lows and discuss the potential impact of interest rates and inflation on the market. By analyzing Fibonacci retracements...
As a follow-up to my previous update on the rising wedge situation with Bitcoin, I'd like to share some new developments and provide some educational insights on trading within this pattern. BTC has now reached the top trendline for the third time, and if we're going to see a downward movement, it's likely to occur from this point. A rising wedge is a bearish...
NOTE: Traders get trends and pivots wrong all the time. It's more important to know when you're wrong than it is to focus on being right all the time. Nobody is right all the time. It's about how you manage the trade when you're wrong. As a trader with an eye for market movements, I have been monitoring the NASDAQ, particularly the QQQ ETF, to better understand...
I've had the opportunity to closely observe the crude oil market's impressive run after its historic dip into negative territory in 2020. To better understand the market's behavior, I've outlined a Fibonacci pull from the low in November 2020 to the high in March 2022. In this idea, I'll discuss the importance of support and resistance levels, as well as Fibonacci...
The inverted head and shoulders (IH&S) pattern is a widely recognized technical chart formation that signals a potential reversal of a downtrend. This idea will analyze the recent price action of NVIDIA Corporation (NASDAQ: NVDA) stock and discuss the importance of risk management when price action reaches resistance after a substantial rise. Analyzing the IH&S...