SPX what I am looking at for the short term. Bunch of limits set, let's see what happens
We have been consolidating for some time and the direction is still unclear. From a macro point of view I was looking for a bullish October into FOMC, didn't get that and now time is running out. Looking at the chart there are multiple scenarios that could play out. Mapped the most obvious ones with targets. Trigger PA would be LTF break and hold or reclaim. More...
There is half decent chance that if we get low next week at the 3600 and then good rejection at that area we might have a technical bottom for the next couple of weeks.
Going to compound a long on SPX , not the highest confidence but I think that targets are to the upside for the short term.
NDX The good: we are in weekly support and if we get a bounce then target next weekly supply which is 10% above The bad: we are below 200 WMA and we just had a nasty rejection last week and looks like is heading towards Sept 2020 lows The ugly: next potential target in case of further breakdown is the pre-covid highs -10% from here assuming a beta of 2 for BTC...
WXT 2 levels to buy on the chart, one coming up soon and the next one ATL, or one could just wait for the lows to be run and get in on the reclaim. Now and the next months is the time to start looking for gems to acumulate for the next bull run.
I like this as a spot trade, with no SL, the setup is just to give an idea of what RR one could expect out of it. It will take a long time to play out.
SPX 2 short setups that I am looking for: - first is a limit short - second short if we get the break down first Macro target is 3500. Not interested in other swing setups but might play LTF longs.
Seems like BTC is in a similar position chart wise as it was in 2018. With some notable differences such as: - in 2018 vs now we had multiple retests of the 6k demand before finally nuking it in November vs now in 2022 we only properly tested the 20k area 2 times - market and overall macro conditions were very different, crypto was still a joke largely with no...
Taking my chances with a long here before further breakdown
Some longs still in play currently as long as we are above WO, but I would not be surprised to see another stab at the lows. Short term plays and SL set to BE
BTC I like my chances for a long here. Not betting on a full reversal, just a technical setup that I need to take.
Expecting NDX to top out either in this area or a bit higher up. Going to watch PA for now and take a short when conditions are right. Expecting equities and crypto to make a new leg down based on the assumption that the major bear market rally topped out.
This is what I am looking for in order to gain some confidence in longing NDX and crypto
At this point I am considering break out retest complete. Given this opinion I don't see why price would hang out too much in this area. Waiting to see FOMC and reaction afterwards for either: - market buying with 28k target; or, - layering bids sub 18k At this point fully neutral until FOMC
Setting limits for a quick intra day long. If it reaches the target before getting a fill I will cancel the limit