$SPOT Butterfly @srp192 Correct on the butterfly, bars are a little too big for my liking going into it, it can work, needs to bounce tomorrow
SPOT trade ideas
Confirmed its bearish mode!I always try to present the charts in a simple comprehensive format to prevent any confusion.
This is just my technical view, neither a fundamental comment nor a recommendation to trade..!
Please review my track record and calculate the odds for yourself..!
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Inverse Head and Shoulders RectangleI saw the Inverse H&S pattern, then looked back and saw the older rectangle pattern that SPOT is now back inside of. It made finding the neckline a bit easier.
SPOT broke free from the old rectangle pattern before latest fall to earth in a single thrusting green candle.
From looking at volume, it looks like smart money has invested in this at lower levels, and I am sure they invested in it a long time ago at really low levels as well (o: When I see a huge volume bar like the one that short SPOT out of the rectangle, makes me wonder if anyone other than smart money could have acheived that much volume on a security at this price? Sure I see the general trading public acheive this day trading penny stocks etc. I am just not sure we could have done that volume bar by ourselves? What do you think?
No recommendation.
Rectangles can be hard to bust out of but SPOT has done it before.
Rectangles are horizontal consolidation zones and this is a wide one. The bottom is support and the top represents resistance. Spot has passed Mid Rectangle (MR) which is 271.35. Some use this as a stop whichever way the rectangle breaks.
SPOT got past the bottom of the big green candle today, but closed right at the bottom of it. If I could go back in time, I would have used that candle as support, or a stop vs mid rectangle if I were using a trailing stop. It looks like it may be causing a little bit of resistance right now. I am thinking SPOT will eventually get past it. Lots depends on market conditions and things we have no control over.
Spot to 330 by end of AprilSo many reasons to love this daily chart.
inverse head and shoulder pattern
breakout and retest of downtrend line with decent volume
rsi bullish
macd looking to crossover bullish soon
great business overall
personally love podcasts
looking for an easy retracement back to its 0.618 at a PT of 334 by end of April.
Music For Trading and InvestingWe teamed up with a behavioral psychologist to look into the science behind the best song choices for trading and investing. We identified a formulae based on the five essential components of music — Tempo (BPM), Tone (T), Length and Volume (LV), Lyrics (L) and Mood (M). We then used these formulae to create two specialized playlists:
Playlist #1: Zero In - Songs that aid concentration and can be used when researching your next moves.
Playlist #2: All Out - Songs that encourage you to be decisive and a confident to take action.
You can find both of these playlists free and open to everyone on Spotify . We'll be updating them as we go. In addition, please feel free to share your favorite songs for trading in the comments below.
Now let's dive into the calculations behind each playlist. You may find this part especially interesting if you're passionate about music or looking to learn more. You may also realize that markets and music have a lot in common.
🎯 Zero In — Time To Focus and Concentrate
Focusing = “BPM (50 – 65) +TM +LVL (+ or -) -LN +M”
BPM: find songs with a tempo of 50-65 beats per minute
TM: select a mellow tone that soothes and relaxes
LVL: longer songs make for better concentration
LN: choose a track with few or no lyrics
M: a slow, less melodic mood will help the brain focus on the task at hand, and not the music
💥 All Out — Building Confidence To Make That Final Leap
Action = “BPM (65 – 85) +TU +LVS (+ or -) -LS +M”
BPM: find songs with a tempo of 65-85 beats per minute
TU: select an upbeat tone that positively enhances cognitive function
LVS: shorter songs with a faster tempo will keep you motivated when performing a task
LS: During Activation of a task, having lyrics in your playlist, is less important, so choose songs with some lyrics that motivate
M: an upbeat, lyrical mood will give you a boost of dopamine, helping you feel brave and confident
Thanks for reading and we look forward to hearing your feedback. Go ahead and give these playlists a try. Let us know how they help you prepare and take action. Please also share your favorite songs for trading in the comments.
