If youβre a bitcoin:native bear, you want to sell @ $72,000 with a stop above the last swing high of $83,000 and TP @ $50,000. Thatβs a 2:1 risk reward making it a positive traders equation.
Not financial advice. Price action only. π
bitcoin:native Weekly Update
Have bulls taken control and flipped the market in long for a couple of legs up?
This weekβs strong bull bar closed near the highs - a second entry long on the weekly time frame.
Trapping bears who sold below last weekβs low.
Context & location look good for bulls after the 2-legged pullback from ATHs. Things are looking up for #Bitcoin bulls⦠or is this just a higher-timeframe pullback?
All eyes on the bulls to see if they can get follow-through buying next week. π
Not financial advice. Price action only. π
#Bitcoin #BTC #PriceAction
News is bad for trading. Itβs already baked into the charts.
Networks pick one expertβignoring the equally smart opposite view. You get half the story & it ruins your decisions.
Stick to price action. Focus on the chart.
#PriceAction#TradingPsychology#DayTrading
@ZaStocks Looks like a wedge bear flag to meβ¦ the 5 monthly CC is strong enough for a 2nd leg down π see you below $20 again π€·ββοΈ @ZaStocks I donβt make the rules.. just PA
$LULU Weekly Update
As noted on the monthly, the falling wedge pattern is now getting closer to the apex.
Bulls showing decent buying pressure on the weekly: triggered a H3 setup and closing above the prior weekβs high.
Reminder:
β’ High 1 = first attempt to reverse downtrend by breaking above prior bar high
β’ High 2 = second attempt
With recent buying pressure and weak bear follow-through (sign of bearish weakness), odds favor bulls for a successful reversal and upside breakout.
Not financial advice. Price action only. π
#LULU #PriceAction #StockCharts
$LULU Monthly Update
Lululemon has been in a downtrend since Jan 2024 with multiple legs down. Now forming a falling wedge pattern, looking to test the 2018 breakout that led to all-time highs.
There is nothing to buy here yet β waiting for support and a clear wedge breakout for a buy signal.
Price is well below the monthly MA. Bears risk/reward is getting high: potential for a couple legs up to test the last swing high and the monthly MA.
Not financial advice. Pure price action. π
#LULU #PriceAction #StockCharts
$E-mini Weekly Update
Last week formed an inside bar after sellers stepped in at the upper third of the prior week.
Bulls view the recent move as a 2-legged pullback since the climactic spike that began March 31st.
Bulls are eyeing a test of the ATH and a measured move to $8,000. July is historically one of the strongest months, a mid-summer rally could push toward the measured move at 8k.
That said, weβre late in the trend at the top of the bull channel that started in 2023. Market appears to be transitioning into a trading range on a smaller time frame after the recent spike and channel phase ended. Since 80% of trading range breakouts fail, I'd expect sellers and profit-taking not far above the ATH.
Bears need stronger closes near their lows and sideways action before a reversal. First target for the bears: beginning of the April 20th channel (aligns with previous ATH).
Not financial advice. Price action only. π
#ES #Futures #PriceAction