thekidtrader11

thekidtrader11

Since the beginning of the year, DXY has been on an uptrend, establishing higher highs and lower highs. I have highlighted the significant support and resistance it has been bouncing off from for better understanding. Currently, DXY has touched the resistance and received rejection, causing it to decline; however, I believe this is the top and we will soon break...

thekidtrader11

As seen, LUNC had a very strong support that supported the price for a very long time until LUNC broke the support, making it the new resistance. The price has already been rejected twice by the resistance, putting LUNC in choppy waters. We will only begin the next bullish run or wave when we close above this resistance.

thekidtrader11

As you know, the SPX tracks the 500 largest companies, and since it has been in a consistent downtrend since its peak, it is advisable not to open any long positions for the future until the bottom is reached. I have marked the important support and resistance being used to maintain this channel in order for you to use this chart as a bigger picture to correctly...

thekidtrader11

A head and shoulders pattern is a bearish reversal pattern that indicates that the uptrend has reached its top and that the reversal has begun. As you can see from the weekly chart, this head and shoulders pattern suggests a very negative price action in the following weeks until F finds firm support and bounces off to bullish territory 

thekidtrader11

As I said in my prior analysis, breaking this main support will be quite negative for TSLA, but this week we ended up finishing just below the key support that had been holding TSLA for so long, but now that we have broken it. Expect a bearish October in which we will test the next levels of support shown on the chart.

thekidtrader11

Oil has been consistently declining since its last top, trading in a descending channel with lower highs and lower lows. I've highlighted the key areas of support and resistance for oil to help you see the broader picture. You may take advantage of this if you want to swing trade in the channel.

thekidtrader11

As you can see, since HOOD formed a double top pattern, it has been consistently declining from the second peak. I have marked out the important resistance and support lines for you to get a better idea of where HOOD is headed. If HOOD is able to break the current resistance, it has a chance of retesting the main support again, but it tested the current resistance...

thekidtrader11

I think gold is at a turning point right now where it's either a make or break. If gold closes below the neckline on the monthly chart, expect a very bearish price action in October; however, if it closes above the neckline, we might consolidate and stay afloat for some time but it sounds inevitable with the rising interest rates and the hawkish stance of the fed.

thekidtrader11 Updated 

You may recall from my earlier analysis of COIN that it was trading in an ascending channel. However, following today's market sell-off, COIN has broken that support and is now trading in an ascending wedge channel, signaling that the bloodbath isn't quite finished.

thekidtrader11 Updated 

I've highlighted the critical support and resistance levels, where we see more volatility and volume. If we are able to break through that resistance, we will see bullish price action, and if we retest and see a pullback, we will see bearish price action. In both cases, you can use the support and resistance to your advantage.

thekidtrader11 Updated 

META has been in a constant downward wedge for the past 5 days, as you can see. It has been following the wedge precisely and is near maturity. I've included take profit signals for quick and easy profits, However, a stop loss of 1-2 $ below the wedge should be added in case it breaks apart.

thekidtrader11

As you can see, after breaking the major support, COIN formed an ascending channel showcasing higher highs and higher lows indicating that it wants to retest the support turned resistance; if the bulls are able to break through, we can expect bullish price action with the resistance turning back to the support however if we fail to break through, we can expect...