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Bearflags

PPI Data, Rate Hikes, QQQ / SPX Support and Resistance- CPI data came in expected today, excpet core is 0.1% hotter market didn't really care since we need something really hot to not get a 0.25bps - PPI data likely will come in expected as well today, since CPI was pretty aligned so technical matter more now - SPX came close to 200 MA today rejected the 3940 area but QQQ is above 200 MA - QQQ and SPX reject resistance at the same time - QQQ broke 294.5 support (yesterdays triple top resistance) in the afternoon and bears didn't follow through bulls V shaped into close - KRE and XLF both still in daily bear flag territory. KEY QQQ & SPX BOTH is still under resistance even though we V shaped we closed right under it, so still in the chop range, I am neutral now yesterday i was bull lean and played the bull move this morning as i mentioned when we broke the triple top resistance at 294.5 QQQ I am going long. Now at this range its anyone's game since there are both bear thesis and bull thesis that are both correct at these levels. currently all cash took profit this morning likely scalping depending on which side we break tomorrow.
NASDAQ:QQQ
by ArcadiaTrading
2
HOW-TO: My Trading Approach On GBPNZD With Full Trade AnalysisFX:GBPNZD I was doing an GBPNZD trade one morning and came across a formation that I knew would earn me a decent amount of points - and one that would make a great GBPNZD analysis video for the trading community. This GBPNZD trade analysis video mainly revolves around the use of Fibonacci, Regression Lines and Bear Flag formations. But I guess the most important talking point in this video is how said formations convinced me to go short for this trade. With that said, let me ask you a question. Is your GBPNZD trading strategy at a point where you are able to make minute adjustments that can lead to big wins? More importantly, do you currently have the trading knowledge to identify said formations and signals? Anyway, watch my GBPNZD trading analysis video right to the end, and leave a message if there’s anything you want to ask. Thank You Kumar Kaushal
Short
by Kumar_Kaushal
SHOPRITE GROUP LIMITED (SHP) SHORTPrice has been moving in a descending channel, in a series of impulses and correction, and we can expect prices to continue to move to the downside. There is potential for short term long entries due to an inverse head and shoulders pattern, which is a reversal pattern, but first price has to break the neckline and this will give us confirmation to enter especially if there is a retest. My bias is bearish as price seems to be forming the corrective part of a bear flag pattern, and conservative traders can enter on the break of the flag support to the downside, whilst risk-seekers can enter positions on the resistance level of the flag position. It would be even more safer to wait for a rejection of the descending trendline which makes up the channel support before placing any short positions.
JSE:SHPShort
by munyaelliott
BTC 1hr Bear Flag - Daily Chart Still Okay ThoughThe 1hr chart is looking like a bear flag as it bounces higher and at resistance now. The good news is that prices found support right at the breakout point which is support now. On the 4hr chart, the support level corresponds with the 22 EMA. The 4hr view looks positive so if we see a break lower from that bear flag on the 1hr, it may be a buyable dip with the stop below the 6500 level. On the upside, getting back over 6580 would negate yesterday's sell off and like lead to more upside. Overall, I'm looking for more downside testing today but we need to see support hold to keep the broader uptrend in place.
by NodeInvestor