The SPY will go up for the rest of the week
The market will go up for the next 3 more days.
I am using the Heikin Ashi candlesticks. Why Heikin Ashi candlesticks?
1) They show more of a directional movement within candlesticks.
2) They tend to filter out the market noise so you can see the market direction better.
3) It reduces false signals, allowing you to stay in the trade longer.
4) And, it gives you a smoother appearance making it easier to see trends and reversals. (This information is from Dr. Keith Wade who speaks at the Wealth365 Summits.)
Typically, I would wait until there are 2 green Heikin Ashi green candlesticks before entering.
I still tend to switch back and forth between Heikin Ashi candlesticks and regular candlesticks since regular candlesticks are what I am familiar with and have been using since I started trading.
I use the MacD, the Stock RSI and the DMI to assist me with the direction of the market. I am not perfect at them. I will hopefully try to explain these in future trading charts.
I personally find:
* the 5 minute indicators typically represents what will happen in the next half and hour.
* the 10 minute indicators typically represents what will happen in the next hour.
* the 30 minute indicators typically represents what will happen in the daily.
* and, the hour indicators typically represents what will happen in the next week.
I am anticipating a bull trend for the next few days as the 30 min, 1 hour, 2 hour, 3 hour and 4 hour indicators are already looking bullish.
I have a few targets. In the past I have said the market is usually moving about 34 points, but I think it will make a less of a move this time due to the Stock RSI only being slightly lower as it is not starting close to 0.
If you look at some of the past moves, the market moved around 20 points such as from July 1 to July 16, Oct 7 to Oct 17 and Nov. 20 to Dec 6th. As well, if you look at the Stock RSI on the daily charts, it has only declined a little. So even if it turns soon, it only has a little way to go upward. As well, it is hitting a resistance around 610. I think the market will bounce back and forth between 610 and 590 for a few more weeks.
Typically, I would wait until there are 2 green Heikin Ashi green candlesticks before entering.
The targets I have in place are:
20 point move = 610.42
1 Fibonacci move = 610.59
5 day move = Feb 7
If it hits one of these targets, I am out of my trade. And I will even shave a little off, so if it hits 609, I will be out.
My stops are:
1) the low of the previous Heikin Ashi candlestick,
2) 2 red Heikin Ashi candlesticks,
3) a specific dollar amount for a total loss for my trade or
4) a specific dollar amount per contract.
If it hits one of those stops, I am out of my trade.
Lastly, I believe tomorrow it may go lower as I find the 3rd day typically moves sideways or goes lower. And some of the shorter term indicators are looking weak.
I really encourage you to draw a chart yourself. The first chart is the most nerve racking, but I have learned the most through drawing charts.
I am trying to take trading classes through Udemy, mostly because they are cheap. LOL! I usually wait for a sale where the courses are as low as $14.99 instead of over $100 per course. They have sales a few times per year. Just keep checking the website. I am NOT affiliated with this company in any way. I am just trying to tell you where I have found cheaper courses online to learn more. udemy.com/
I always try to attend Wealth365 Summit which is held about 4 times a year where I always pick up some more useful information. Again, I am not affiliated with this company in any way. wealth365.com/
My chart is not guaranteed and I am still learning. Trade at your own risk.
Happy trading everyone!
I am using the Heikin Ashi candlesticks. Why Heikin Ashi candlesticks?
1) They show more of a directional movement within candlesticks.
2) They tend to filter out the market noise so you can see the market direction better.
3) It reduces false signals, allowing you to stay in the trade longer.
4) And, it gives you a smoother appearance making it easier to see trends and reversals. (This information is from Dr. Keith Wade who speaks at the Wealth365 Summits.)
Typically, I would wait until there are 2 green Heikin Ashi green candlesticks before entering.
I still tend to switch back and forth between Heikin Ashi candlesticks and regular candlesticks since regular candlesticks are what I am familiar with and have been using since I started trading.
I use the MacD, the Stock RSI and the DMI to assist me with the direction of the market. I am not perfect at them. I will hopefully try to explain these in future trading charts.
I personally find:
* the 5 minute indicators typically represents what will happen in the next half and hour.
* the 10 minute indicators typically represents what will happen in the next hour.
* the 30 minute indicators typically represents what will happen in the daily.
* and, the hour indicators typically represents what will happen in the next week.
I am anticipating a bull trend for the next few days as the 30 min, 1 hour, 2 hour, 3 hour and 4 hour indicators are already looking bullish.
I have a few targets. In the past I have said the market is usually moving about 34 points, but I think it will make a less of a move this time due to the Stock RSI only being slightly lower as it is not starting close to 0.
If you look at some of the past moves, the market moved around 20 points such as from July 1 to July 16, Oct 7 to Oct 17 and Nov. 20 to Dec 6th. As well, if you look at the Stock RSI on the daily charts, it has only declined a little. So even if it turns soon, it only has a little way to go upward. As well, it is hitting a resistance around 610. I think the market will bounce back and forth between 610 and 590 for a few more weeks.
Typically, I would wait until there are 2 green Heikin Ashi green candlesticks before entering.
The targets I have in place are:
20 point move = 610.42
1 Fibonacci move = 610.59
5 day move = Feb 7
If it hits one of these targets, I am out of my trade. And I will even shave a little off, so if it hits 609, I will be out.
My stops are:
1) the low of the previous Heikin Ashi candlestick,
2) 2 red Heikin Ashi candlesticks,
3) a specific dollar amount for a total loss for my trade or
4) a specific dollar amount per contract.
If it hits one of those stops, I am out of my trade.
Lastly, I believe tomorrow it may go lower as I find the 3rd day typically moves sideways or goes lower. And some of the shorter term indicators are looking weak.
I really encourage you to draw a chart yourself. The first chart is the most nerve racking, but I have learned the most through drawing charts.
I am trying to take trading classes through Udemy, mostly because they are cheap. LOL! I usually wait for a sale where the courses are as low as $14.99 instead of over $100 per course. They have sales a few times per year. Just keep checking the website. I am NOT affiliated with this company in any way. I am just trying to tell you where I have found cheaper courses online to learn more. udemy.com/
I always try to attend Wealth365 Summit which is held about 4 times a year where I always pick up some more useful information. Again, I am not affiliated with this company in any way. wealth365.com/
My chart is not guaranteed and I am still learning. Trade at your own risk.
Happy trading everyone!
Trade aktif
Instead of bouncing between a resistance and support, I think we are seeing a triangle formation with the tip forming at approximately Feb. 28th as shown in the picture below.
I think the market will hit the resistance either Friday (tomorrow) or Monday. Once it hits the resistance it will start to go back down.
I typically only trade with the trend, but I may pick up a quick profit if I see the indicators pointing downward. I still consider the trend upward because the weekly indicators are still bullish.
If it does hit the resistance tomorrow, I will draw a new chart.
Catatan
I didn't mean to have an arrow pointing down in the above chart. As well, those were my previous targets, but I can not adjust the chart anymore.Catatan
The half an hour indicators have turned so I may be closing this trade. I just realised I may have drew the triangle wrong this morning. I will wait until the end of the day to update this trade. The market may go up another day.
Trading ditutup secara manual
I believe the market has turned. Depending on what happens the rest of the day will determine what will happen the next trading day.Catatan
The market did turn.
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.