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Possiblereversal

4200: an important level to pay attention to - wider look at S&PMy main view on S&P500 is that we're in a main bearish trend, that has been fought by the bulls since October, 2022, when prices started going up. However, this insurgency has faced a good deal of resistance, resulting in unstable volume, and back and forth moves. Despite all of that, the secondary trend kept heading north. It can be summarized using technical analysis by drawing an incipient uptrend channel formed by this situation (orange dotted lines). This up move came with some factors that strengthened the movement: the breakout of the main bearish trend line; the breakout of the 200 simple moving average; a pullback to these indicators; and the continuation of the uptrend after the pullback. These are important movements and one cannot simply look the other way and ignore them. Now the prices are very close to approaching a new challenge, that is to overcome the resistance level at 4200. That, besides being a round number, was also the level of many previous bottoms and tops since more than a year ago (specifically since January, 2022). Not only that, but it was also the pivot point breakdown responsible for confirming the beginning of last year's bear market (this is indicated in the chart by the violet arrow path and the explosion emoji). All of this makes 4200 very representative for the current market, but it is also relevant for the current profit situation of many 2021 and 2022 accounts, since above this level such accounts would come back to breakeven, and that has the potential to re-inflate the euphoria between market participants that were waiting for such a moment. I am longing to see what is going to happen here around this resistance level. An up breakout would be the final signal the bulls are waiting for the trend reversion confirmation and a sound continuation of the incipient bull market trend. But this may not happen, and the strong resistance level could work out one more time, especially considering that we’re near the negative "sell in May and go away" seasonality. In that case, we could wait for the continuation of this sleepy congestion that has been happening, or maybe, with some more action involved, we could have the return of a roaring bear market.
SP:SPX
by thessia_
The Bears have one chance before 430Well the market surprised me... The "dumb" money actually pushed us up to our secondary peak that we had in august and formed an indecision candle. The Bulls will want to take us to 430 and are FOMOing in at full pace. Smart money has been sitting on the sidelines waiting for a dip (they were waiting even at the 400 level). I am a stubborn bear so I think there may be a chance for a reversal still. What we are looking for is a pre-market sell off that opens the market at around 412 (We must be under 412.50) We then need to sell off during the day and close below 408. If this happens we will have an Evening Star pattern. What this pattern shows is that the bulls have used up their buying power and profit taking was not met by demand. If this occurs we can begin a reversal as bulls trim their positions and bears hammer it down. If we open above 413 and stay above 413 It will represent accumulation and that will mean we probably go to 430. I still have 402 Puts expiring on 2/10 so hopefully for me we can get that pattern and have a good sell off next week. An Evening Star into a weekend is a great opportunity for the market to calm down and wake up to the uncertain reality that is 2023. Many tech stocks are up 100% or more in just the last month so I would expect profit taking. I will not be adding any new short position unless we have the gap down opening and close under 408. Good luck bears. Congrats bulls.
AMEX:SPYShort
by MikeSpy
1
(BTC-USD) Possible Trend Reversal - (June 22)RSI & EMA If older chart patterns serve as an indicator to predict future movements, we can observe that the price approaches a zone that in previous movements served as an indicator for trend reversal. We're very close to a reversal move, however, we can still see more selling pressure. Since the rsi touches the bear upper zone until it reaches the bear lower zone, the price always drops a little more than 45% and this brings the price of bitcoin close to 24k. The lower line of the bear lower zone, which has guided us so far to the end of the bearmarket, is currently around $25,500. Some external factors can influence the price, do not take my analysis for granted.
BITSTAMP:BTCUSDLong
by TigasTheLink420
Dollar index back to bullishHTF - The market is moving nicely and steadily upwards in an ascending channel since May of 2021. -> 2 weeks ago the market touched the top of the daily ascending channel, and reacted from it, last week the price in very impulsive phases pushed the market down to the bottom of the daily Ascending channel and on Friday the price reacted from that level, indicating possible bullish momentum. LTF - In my perspective in order for the market to reverse back to bullish a correction must appear and break confirming further bullish momentum.
TVC:DXYLong
by GonzooTrading
EURUSD Possible reversal or continuationHTF - Market has been corrected in an ascending channel in the 4Hr TF, and just recently broke out to it. LTF - To me, the market seems that at least it wants to correct, however, the main bias is bearish, and therefore more bears are with strength in the markets, the main reason for me here is that the market can possibly reverse (theoretically low probability according to technicals and market bias) more due to the dollar index is forming a head and shoulder pattern at the top of its ascending channel, with that said, there's really no other reason why EURUSD should reverse here, besides that it broke out of the LTF descending channel and is correcting now... This idea is just my thoughts about what might happen to the EUR according to how the dollar might react to its levels! If reversal doesn't happen, the market will be breaking the bottom of that LTF descending channel and probably continue to the Daily support level of the symmetrical triangle.
by GonzooTrading
1
FCPO TRADING : 107) BEARISH ENGULFING IN DAILY CHARThi, this is haidojo trading and trade 107)...as bearish engulfing candle has been formed in daily chart and 2 support levels have been broken down, we need to be cautious and consider a possible reversal has happened...Although according to my rules, we are still in uptrend, but thing has gone a bit ugly now...supports such as 2760 and 2700 have been broken...if u still persist on long, wait for the 2625-2630 level... strong resistance : 2760 -2773 avg MEAN in past 10yrs overhead resistance : 2700 support level : 2625-2630 lower support level : 2574-2560 WARNING : this is juz a trading idea...trade at your own risk! **your "LIKE" and "FOLLOW" are my main source of motivation to continue posting more valuable contents...TQ**
MYX:FCPO1!
by HAIDOJO_trading
$AAPL Interesting Long term scenario(Possible NOT Probable!)$AAPL -- The Monthly Log Chart shows a very very long term channel at top line as well as a very big bearish divergence on the RSI... The only way a move back to the bottom channel line would be possible is if for some reason $AAPL ceases to innovate (they pretty much already have LOL) and becomes the next 'Nokia' or 'Blackberry'. Keep in mind, this isn't likely to happen at all, just think its an interesting scenario to think about...
NASDAQ:AAPLShort
by DONALD-CRUMP
BTCUSD Confluence of Support Bounce Probable??????? We have a huge confluence of support right here. We are testing the trendline from the December High. It also is right were the current upward trend from June is along with price resistance/support lines. If you look at the daily chart there is currently at a huge confluence of support and it is likely that we will see an bounce or a reversal of this downward move. When we broke out of the resistence from december we never tested it as support therefore the price needed to come down and test that same trendline that was resistance for so long. So there is a high probability of a bounce. I hope we reverse on this bounce and continue up. I am not sure which way we will go, but if we go down below 6k I believe we will follow this trendline from the December high down. This trendline is the thin orange line that is extending from the green pennant trendline from december high. I am not saying this will happen but if it does I am putting a target between 2.9K and 4K. But until we break below are current trendline I am expecting a bounce in the short-term which could be wave 2 or 4 of an upward impulse meaning the move can't be over. Others think this is a correction from the downward, but with this impulse reaching 8400 it should have invalidated most of those bearish counts. So whats next move????? There is one other count where we just move sideway with lower highs
BITFINEX:BTCUSD
by bdfulker2