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Hammer

Camex Ltd - Flag Pattern (Weekly)Risky trade but a possibility of big returns between 20 to 100% possible in CAMEX Ltd Technical Analysis: There are multiple resistance but they have been tested multiple times and now a breakout from flag pattern could give higher returns CMP: 30.38 Targets and Stop loss on the graph itself. Monthly chart also looks strong considering it has been in a range for over a decade a breakout would mean a multibagger (Time frame for this could be more than a year) On Daily it looks interesting and seems good support and candlestick pattern Very Bullish on this stock Also fundamentally looks a decent pick But trade according to your risk, Not sebi registered
BSE:CAMEXLTDLong
by VArun1000
💱 NZDUSD - Head and shoulders. Bear potential NZDUSD is forming a false breakout and reversal pattern. There is an opportunity for a decline to 0.59000 TA on high timeframe: 1) False breakout of global range resistance 2) The market considers liquidity in the area of 0.59600 as a target TA on low timeframe: 1) A false breakdown in the "head and shoulders" format is formed 2) Price starts realization of the pattern after breaking its base 3) I am waiting for a fall to 0.5985 and 0.59600. Key support📉: 0.5985 Key resistance📈: 0.60000
Short
by AndeWave
11
Hammer of Trend ChangeThe Hammer and Inverted Hammer candlestick patterns, two powerful tools adept traders employ for reversals. If you appreciate our charts, give us a quick 💜💜 Here’s what you need to know: 1. Understanding the Essence: Hammer: This pattern typically emerges at the culmination of a downtrend, indicating a potential bullish surge. Its small body and extended lower wick signify the bears' struggle to maintain lower prices. Inverted Hammer: Contrarily, this pattern usually appears at the end of an uptrend, foreshadowing a possible bearish move down. Its small body and prolonged upper shadow denote the weakening grip of the bulls. 2. Decoding the Signals: While Hammers don’t provide direct trading signals, they suggest a shift in momentum. Traders often see them as a sign of potential upward movement after a downtrend. Inverted Hammers, appearing after an uptrend, hint at a potential reversal. The failed attempt by the bulls to sustain higher prices signifies a looming bearish sentiment. 3. Crafting Your Strategy: When dealing with Hammers, traders might enter immediately after its formation or wait for confirmation with a bullish candle. Setting a stop-loss just below the recent low and targeting a significant resistance level is a common strategy. For Inverted Hammers, a similar approach can be employed, focusing on prior support-turned-resistance levels. Vigilance and additional technical analysis are crucial for accurate predictions. 4. A Word of Caution: While these patterns are robust, they should never be sole trading indicators. Combining them with other technical tools enhances accuracy and confidence in your trades. 5. Practice and Precision: Prior to real trades, practice these strategies on demo accounts or paper trading. Platforms like TradingView, Vestinda and others like MetaTrader offer a conducive environment for refining your skills. Incorporating Hammer and Inverted Hammer patterns into your trading toolkit empowers you to detect potential trend shifts. Remember, in trading, nuanced insights can translate into significant profits. Happy trading!
Education
by Vestinda
5
💱NZDUSD - A retest of 0.59852 could break the level NZDUSD is approaching resistance within consolidation. After a false breakdown a signal is formed that the level may be broken on retest. Target 0.60500 TA on high timeframe: 1) We do not see a fall after the support breakout 2) Buyers are holding back the price and may return to the global range 3) market is interested in 0.60500 area due to imbalance TA on the low timeframe: 1) A retest of 0.60438 is forming 2) If the level is broken, an impulse may be formed. 3) I am waiting for the breakout and growth to 0.60500. Key resistance📈: 0.59852 Key support📉: 0.59600
Long
by AndeWave
6
GOLD → Correction from the liquidity zone. Trap OANDA:XAUUSD is testing the liquidity area I mentioned yesterday. The mentioned levels are not target levels, but only on the way to the target. Gold does not reach the lower boundary of the zone and the market maker forms a trap On the chart I have marked the liquidity area - quite a wide corridor and with a high probability the price should pass this zone, but at the same time the market maker should collect all the liquidity in this area. The obvious trap - correction to resistance - tells us that the decline will continue in the medium term. A candlestick pattern is forming on d1, which also hints to us about the continuation of further decline. The speed is quite high and there is no area on the way that could make resistance from the buyers and stop the market. The market is bearish, but even at such times the price can show a small counter-trend movement (correction) to rest before further movement in one direction or the other. I am still sticking with my target to 1812, 1807 and 1800. The moving averages are showing a strong trend Support levels: 1812, 1815.3 Resistance levels: 1828, 1834.4 I am still of the opinion that the price will continue its decline. There are no setups on the chart at the moment that would predict an immediate rise OANDA:XAUUSD TVC:GOLD COMEX_MINI:MGC1! COMEX:GC1! OANDA:XAGUSD TVC:DXY Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
26
VPLM - Powerful Descending TriangleEvery time we have a consolidation this last year we end up breaking out on rumors, running up higher than necessary, then crashing back down on GOOD NEWS. Last time it was a settlement issuance but things are in a NDA. There is an insider selling on this one but its very low of % compared to what the individuals own. We have a great descending triangle with lawsuits coming up in Oct. Dare I predict that we will soon again have rumors of something? This would match well with the descending triangle and the volume that is coming in as of late. Did I mention we also have a nice hammer candle on daily and 3 day? Regarding recent news (via yahoo): The cases vs Verizon and T-Mobile continue to move forward with trials scheduled in October. “This is all very good news!” said Emil Malak, CEO of VoIP-Pal. “Our team is very pleased with our progress to this point. As a result of the termination of the section 101 motions in NDCAL and 8 IPR’s, we have managed to consolidate our many legal battles and can focus our resources and efforts towards getting to the finish line. We can now see a clear path to what we hope will be a fair resolution for all our shareholders. Patience is a virtue.” Not financial advice, DYOR
OTC:VPLMLong
by ChartProphet
CHFJPY Bullish Hammer on 1H ChartCHFJPY Bullish Hammer on 1H Chart Hello traders, I have spotted a bullish hammer pattern on the 1 hour chart of CHFJPY, which indicates a reversal of the previous downtrend and a continuation of the bullish momentum. The hammer has a long lower wick and a small body near the top of the candle, showing that the buyers have rejected the lower prices and pushed the price back up. I have entered two market execution orders at 161.305 and 161.327, with a stop loss at 160.956, which is below the low of the hammer. My first target is 161.594, which is near the previous resistance level, and my second target is 161.913, which is near the 61.8% Fibonacci retracement level of the recent swing high and low. This trade has a good risk-reward ratio of about 1:2 for both targets, and it aligns with the overall bullish trend on the higher time frames. I will update this post as the trade progresses. Please like and follow if you find this idea helpful. Thank you for your support and happy trading! blush
Long
by T-Q
GOLD: What the hammer formartions tell usFollowing a downtrend, where the price action created a series of the lower lows and lower highs, the bulls are increasing their presence in the game and are signaling that there might be a change in the price direction. Thus, a hammer signals a potential change in the price direction, as the bears were unable to follow up on the new short-term low by allowing the bulls to push the price higher to force a higher close. It is exactly the high close that signals that the bulls have just assumed control over the price action, as they defeated the bears in an important fight near the session lows. Similarly, the inverted hammer also generates the same message, but in a different manner. The price action opened low, but pushed higher to surprise the bears. Still, the bears still have control and they push back the price action to close near the lows. Unlike the hammer, the bulls in an inverted hammer were unable to secure a high close, but were defeated in the session’s closing stages. Still, the mere fact that the buyers were able to press the price higher shows that they are testing the bears’ resolve. The fact that the hammer’s bulls managed to get a close at the top of the candle is the reason the hammer is considered stronger than the inverted hammer. This is a logical sequence as the hammer is considered to be one of the most powerful candlestick patterns of any type. It is important to note that neither of these two patterns is a direct trading signal, but a tool which generates a sign that the price action may reverse as a balance shift is occurring. Having said that, we have this Pattern forming on GOLD, so wait for confirmation of the bullish breakout candle at today's close, and if this happens we will have confirmation of a potential short-term reversal. Our last two analyses: 🔴 HARMONIC STRUCTURE IN PLAY (short) 🔴 WAVES STRUTTURE IN PLAY (long) Like to support my work. Trade with care!
OANDA:XAUUSDLong
by TheAnonymousBanker
16
AUDUSD reversal at 23.6% RetracementThe 4H retraced to the 23.6% fib and provided a hammer which is why I wasn't hesitant to sell, even beneath the trendline. Upon the 4H close and hammer. Price immediately progressed bullish to create a strong higher high, broken correction trendline, as well as ADX mixing in to provide confluence. Intraday the 1H timeframe is a clear opportunity to go long on this pair to at least its -27% target. or the 61.8 Major fib retracement. I believe that this pair is still in an overall downtrend until its creating daily higher highs and higher lows.
Long
by DesharedPierreJr.
1
SPX: Many Powerful Patterns | Complete Trend Analysis.• The SPX did a Double Bottom chart pattern, just above the 4,048 support area, indicating that it is poised to seek higher levels from here; • The trend is still bullish, and only if it performs a clear lower high/low we would see this changing – meaning, if the index is about to reverse, the confirmation will come if it loses the 4,048; • For now, it appears it is seeking the next resistance at 4,195. There’s no bearish reversal structure or top signal indicating that it would frustrate this bullish momentum yet. • In the weekly chart, it seems the index is inside an Ascending Triangle chart pattern. By breaking the 4,195 (the next technical resistance seen in the daily chart), the index will trigger a powerful bullish reversal pattern; • The previous 2 candlestick patterns are Hammers, with long shadows under their bodies, which reinforces the bullish sentiment; • Again, the index would have to lose the 4,048 in order to frustrate this sentiment. So far, it is still a bull trend. I’ll keep you updated on this. Remember to follow me to keep in touch with my daily analysis.
SP:SPX
by Nathan_The_Finance_Hydra
TSLA: The Key Points We Should Watch From Here.• TSLA stock is trying to do a bullish reaction, after yesterday’s crash, but it is still under important resistance levels; • As long as TSLA remains under the 21 ema + 186 (red line), no bullish scenario will materialize; • Only if TSLA breaks these resistance levels we might see something new, otherwise, the bearish sentiment will persist and in this scenario, the 186 is our next target. • In the daily chart, TSLA did a powerful bearish candlestick under the 21 ema; • As mentioned before, the 176 is the next support level on it. If TSLA loses the 186, it’ll trigger a clear bearish pivot point, or even an inclined H&S chart pattern, indicating that the long-term trend will remain bearish; • Therefore, the 176 is a critical support level, while the area around 186 is a critical resistance; • On the other hand, if TSLA breaks the 186 area, we might see another rally; • Last week TSLA did a Hammer candlestick pattern, which is a bullish reversal pattern 60% of the time, and hit its target around 88% of the time (Bulkowski, Encyclopedia of Candlestick Charts); • It all depends on how TSLA will react around these key points from now. I’ll keep you updated on this. Remember to follow me to keep in touch with my daily analysis.
NASDAQ:TSLA
by Nathan_The_Finance_Hydra
1
SPX: Bullish Reaction Above Golden Cross.• The SPX is doing a very powerful reaction above a critical support level; • First, as seen in the daily chart, it hit the 3,949 support, and it is doing a powerful reaction. Last Thursday it did a Bullish Engulfing, and las Friday, it broke the 21 ema and the 4k; • In the weekly chart, it is doing a Hammer candlestick pattern, a bullish reversal pattern that works 60% of the time (according to Bulkowski – Encyclopedia of Candlestick Charts); • In addition, this Hammer appeared just above the purple line, which was a previous resistance when the SPX was inside a Descending Channel; • Moreover, this Hammer appeared above the 200 ma, after the index made a Golden Cross (the 50 ma broke the 200 ma upwards); • All these signs indicate that although the index may look overbought short-term wise, it has decent chances of maintaining the bullish bias mid/long-term speaking, especially if look at the weekly chart; • I’ll keep you updated on this. Remember to follow me to keep in touch with my daily analysis!
SP:SPX
by Nathan_The_Finance_Hydra
TSLA: Complete Multi-Time Frame Study (H, D and W charts).• TSLA is about to correct today, however, we have yet to see a true breakout from our Trap Zone, which we analyzed in details on my previous public study on TSLA yesterday (link below this post, as usual); • Short-term speaking, if TSLA loses the 38.2% retracement, the next technical support is the 61.8% retracement. Usually, when TSLA finds a support at the 38.2% retracement (like it did on Jan 10), just to lose it afterwards, it ignores the 50% and seeks the 61.8% in a single move – this is not a rule, though; • The 61.8% is at $110. Keep this in mind, as we’ll get back to it near the end of this post; • Either way, the fact that TSLA is losing the 21 ema is another indicator that reinforces a bearish sentiment; • Could TSLA reverse the bear trend and seek higher levels? Sure, but as long as it stays under the $123, we won’t see any meaningful reversal; • The problem is that TSLA is in a bear trend in the daily chart, and even if it breaks its short-term resistance at $123, it has many other mid-term resistances; • We see the 21 ema as the first resistance, and beyond it, the Fibonacci’s Retracements; • In addition, although TSLA is trying to find a bottom, there’s no clear bullish reversal structure: No double bottom, IH&S, Cup & Handle… Not even a bullish pivot point; • In the weekly chart, TSLA confirms a bottom sign, as it triggered last week’s Hammer, but although it is a bottom sign, indicating a possible bounce, this isn’t a true reversal sign; • Remember the $110, the 61.8% retracement in the 1h chart? It is a key support level that has been holding TSLA’s price, and it is a support level from Sep 2020; • The mid/long-term bear trend would only resume if it loses the $110; • Therefore, these are the key support/resistances to watch from here. I’ll keep you updated on this. Remember to follow me to keep in touch with my daily analyses!
NASDAQ:TSLA
by Nathan_The_Finance_Hydra
3
6 Reliable Bullish Candlestick PatternHello dear traders, Here are some educational chart patterns that you must know in 2022 and 2023. I hope you find this information educational and informative. We are new here so we ask you to support our views with your likes and comments, Feel free to ask any questions in the comments, and we'll try to answer them all, folks. 6 Reliable Bullish Candlestick Pattern 1) The Hammer 2) Bullish Engulfing Crack 3) Bearish Engulfing Sandwich 4) Morning Star 5) Tweezer Bottom 6) Piercing Line 1. The Hammer:- Hammer is a bullish candlestick reversal candle. Which is formed within the next few candles. As the price declines sharply, we anticipate a final bounce. But how can we estimate without falling into overselling? That's where Hammer comes into play. This gives us evidence that the selling pressure is subsiding or being absorbed. Furthermore, if the volume signature associated with the hammer candle is significant, it adds even more confidence to our thesis. We are looking to cash in on shorts who are taking profits and covering, as well as dip buyers who are taking chances here on oversold positions. Expectation? an assembly. Ideally, you identify a hammer candle, take a long position on a break on the upside of the candle, and set risk on the low or in the body of the hammer. Bullish Hammer Example;- Let’s look at a real-life example with BTC. Right off the open, BTC retests the lows from the pre-market. Once it reaches those levels, volume increases slightly as it reverses on the 5-minute chart seen here. Visibly, there is a “shelf” forming near the low of the hammer candle’s body. The bar to the left and right is also closed and open in that price “shelf” area. The second 5-minute chart opens with a bit of weakness, then rallies strongly above the Hammer candle. This is your signal to go long. The break of the Hammer candle body. Set the stop below the close of this bullish 5-minute candle. 2. Bullish Engulfing Crack:- You can imagine that shorts will start covering given the rising price of the stock. This adds fuel to the already existing buying pressure. The result is a bullish candlestick pattern that swallows up the bears' efforts. For the long-biased trader, the opportunity is perfect. As is the case with any setup, we are looking for evidence to sway our confidence in either direction. The fact that the bears completely got away in this single bar is proof enough for us. You go long on the break of the previous bar and set the stop on the low. Bullish Engulfing Examples:- Here's a snapshot of BTC, which provided us with a beautiful opening range breakout (ORB) opportunity right out of the gate on this particular day: After the selloff, buyers come in and remove the selling pressure from the pre-market, engulfing the bears before moving up. To be safe, you enter long when the red candle breaks, setting your risk at the low level or body of the first green candle. There are some advanced traders who are more aggressive and may take their positions early if they feel a reversal is imminent. 3. Bearish Engulfing Sandwich:- do not be confused. Just because the name says "bearish" doesn't mean it's a bearish pattern. Far from it, actually. It is often referred to as a stick sandwich. The name is derived from the sandwiching of a "bearish engulfing" candle by two bullish candles. Thus, it is a bullish candlestick pattern in this context. Similar to the above example of a Bullish Engulfing Crack, this pattern takes a bit longer to "move through" so to speak. Essentially an extra bar. The perception is that the trend has reversed and we are now going down. After all, the bearish engulfing candle gives us that confidence, If you're on the smaller side, there's hope. However, stocks don't always do what we want them to. We have to react to what the market gives us, not what we think should happen. In this case, the Bearish Engulfing Crack is used by two bullish candles that move upwards. If you are short, hopefully, you have respected your stop loss. If you are a long-time bias, here is a good opportunity for you. Bearish Engulfing Sandwich Example:- After opening with a 5-minute candle chart, BTC gives a great view of it in real-time. In this case, the right side of the sandwich acts similarly to the Bullish Engulfing Crack candlestick pattern. For all intents and purposes, you should treat your entries and risk according to the same pattern. 4. The Morning Star:- Morning Star should gap down. It's difficult to find on an intraday basis. For this reason, we are good enough for a solid Doji candle reversal pattern. The opening candle should be long-bodied and bearish. The middle candle is the one with the smaller body. A reversal candle is another bullish candle with a long body (usually gaping up). The close of this bullish long-bodied candle should be above the midpoint of the first candle. Without much selling pressure, the candlestick climbs to higher prices as sellers cover and buyers take advantage of discounted stock pricing. Morning stars can also appear as morning Doji stars. They look almost identical except for the body of the middle candle. The story of buyers and sellers remains the same. Bullish Morning Star Example:- You can see this in action with the BTC example below. A long-body bearish candle, followed by a narrow-body indecision candle. The bulls take control of the next candle and the rest is history. It is worthwhile to note the volume of the first candle. We cannot assume that this is a complete recession. As you can see, there is buying pressure at lower levels. When a Doji candle is formed, it gives us confidence. As a result, as soon as the price moves away from the lower level of the green candle; It does this in small amounts. How can we explain that? It took less effort to increase the price. Therefore, we can assume that the reverse is "ease of movement". This should give us confidence in our long position. 5. Tweezer Bottom:- The Tweezer Bottom Bullish candlestick pattern consists of two candles – usually with small bodies. The first should be a red/bearish candle, and the second a green/bullish candle. Theoretically, the Tweezer Bottom alerts the chart reader to the fact that an attempt is being made to push the price down, but to no avail. Two smaller-sized candles represent the presence of demand in the market. Supply is being absorbed keeping candles short in the presence of selling pressure, so the volume sign will appear higher. Entry should be taken as soon as the price breaks through the second candle. Stops can be set on the lows. Bullish Tweezer Bottom Example:- BTC is displaying a beautiful tweezer bottom candlestick pattern for us on the 5-minute chart. Note the narrow bodies of the two candlesticks, their symmetry, and the close range from red to green. The volume of this first red Doji is particularly interesting. Note how high it is here. Given the context, we can interpret this as an absorption of supply. The second candlestick (green) then rapidly decreases in volume. Thus, our thesis is confirmed that sales are absorbed and eliminated. 6. Piercing Line:- The piercing line may look similar to a bullish engulfing pattern. The exception is that the piercing line does not completely encircle the previous candle. It is still considered a bullish candlestick pattern as it overcame the downward momentum to close at least midway in the body of the previous candle. It pierces the bottom line but inevitably retraces. Bullish Piercing Line Example:- Piercing lines may present a greater risk to reward at lower levels of support. They can also act as a spring in the trading range. This 5-minute chart of BTC shows the combination of an opening range breakout (ORB) with a piercing line. Together, it's a combination that can really add confidence to our entryways. As with any setup, the more evidence we have to confirm our bias and plan, the better. For this reason, it is always good to ask yourself: Are the trends in my favor? Is it time for a change? Does the volume confirm my thesis? Is the stock in an area of support or resistance? Are the multiple timeframes in line with my view? Trade with care. If you like our content, please feel free to support our page with a like, comment Hit the like button if you like it and share your charts in the comments section. Thank you
Education
by CryptoSanders9563
7
AAPL: Bullish REVERSAL ahead? KEY POINTS to watch this week! 🤓• AAPL is reacting above a key support level; • In the weekly chart, we see a Hammer candlestick pattern, which was triggered this week. This points to a possible bounce on AAPL; • The technical target for a Hammer is the projection of the candlestick’s height in the direction of the breakout, this means, something around $138; • In the daily chart, there’s no clear bullish reversal structure on AAPL yet, but we can use Fibonacci to set the next key resistance levels; • The 50% retracement is around $137, which is quite close to the Hammer’s target in the weekly chart. Therefore the area around $137 - $138 is a key dual-resistance area; • To not frustrate this thesis, it is important for AAPL to remain above the $128. If it loses it again, it might be problematic. I’ll keep you updated on this, as usual. Remember to follow me to keep in touch with my daily analyses!
NASDAQ:AAPL
by Nathan_The_Finance_Hydra
2
NVDA: BULLSEYE! 🎯 What to expect from here?• Yes, we nailed the 61.8% Fibonacci’s Retracement in the weekly chart. We set this target on my previous public analysis on NVDA (the link is below this post, as usual); • Now, it seems NVDA is trying to react above the retracement. In addition, it just filled a gap around $142 (daily chart), which did work as a support level on Dec 29 – 30; • So far, there’s a bottom sign, but not a reversal structure yet. The trend would technically reverse if NVDA breaks the 21 ema in the daily chart – so far, the 21 ema is above the price, pointing downwards; • On the bright side, there’s a Hammer candlestick pattern in the weekly chart. As Bulkowski’s studies reveal, Hammers have 60% chances of reversing the trend, therefore, this might be a catalyst for NVDA; • On the other hand, what could trigger a bearish continuation for NVDA? If it loses the 61.8% again. In this case, the next technical support level is the $129 (daily chart); • I’ll keep you guys updated on this. Remember to follow me to keep in touch with my daily analyses!
NASDAQ:NVDA
by Nathan_The_Finance_Hydra
Trading Series – The ManagementMost of us will spend about 90% of our time thinking of what to buy and at what price we should get in. In fact, that is only 10% of work done. Focus on this scenario instead - “After getting into a position, how are we going to manage it with either a calculated loss when market go against us or how should we take profits when market perform better than our expectation? As usual we will do a few case studies on how I manage my positions for this year. Today’s content: 1. 90% of us – Spending too much time on “Getting in” 2. Steps to manage our trades after an entry? If you have been following, today’s is the 7th tutorial in our Trading Series: 1. “The buy strategy” 2. “The sell strategy” 3. “Developing long & short-term view” 4. “Choosing between the time frame” 5. “The entry” 6. “The exit” 7. “The management” Example 1 Micro E-Mini Nasdaq Futures Minimum fluctuation 0.25 point = $0.50 1 point = $2 10 points = $20 100 points = $200 1,000 points = $2,000 Example 2 E-Mini Nasdaq Futures Minimum fluctuation 0.25 point = $5 1 point = $20 10 points = $200 100 points = $2,000 Disclaimer: • What presented here is not a recommendation, please consult your licensed broker. • Our mission is to create lateral thinking skills for every investor and trader, knowing when to take a calculated risk with market uncertainty and a bolder risk when opportunity arises. CME Real-time Market Data help identify trading set-ups in real-time and express my market views. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com
CME_MINI:MNQ1!Short
by konhow
"Biting Point" Signal in Every Turn for 2022Stay-tune for the video version shortly, we will do more in-depth study. Micro E-Mini Nasdaq Futures Minimum fluctuation 0.25 point = $0.5 1 point = $2 10 points = $20 100 points = $200 Disclaimer: • What presented here is not a recommendation, please consult your licensed broker. • Our mission is to create lateral thinking skills for every investor and trader, knowing when to take a calculated risk with market uncertainty and a bolder risk when opportunity arises. CME Real-time Market Data help identify trading set-ups in real-time and express my market views. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com I hope this tutorial will be helpful, in enabling you to read into the market with greater clarity.
CME_MINI:MNQ1!Short
by konhow
1
SPX: Could it REVERSE? Pay attention to these KEY POINTS!• The index is on “bear mode” again, as it is doing lower highs/lows in the 1h/D charts, and it is trading below the 21 ema; • It did a technical bullish candlestick yesterday, a Hammer, closing above the 3,818 (gap support). This is a sign of strength; • Despite the bullish reaction, this Hammer wasn’t triggered, and the SPX has to break other key points in order to reverse the bearish sentiment; • First, there’s the 21 ema in the 1h chart. Second, it has to fill the previous gap at 3,868 (1h chart), making it an Exhaustion Gap. Only if SPX reacts in this specific way I would be convinced that the “bear mode” might end; • For now, I’ll stick with my original view: Since it is losing the support at 3,818 and it lacks bullish reaction, the next support to aim is the 3,744. So far, there’s no technical reaction that could convince me otherwise; • I’ll keep you updated on this. Remember to follow me to keep in touch with my daily analyses!
SP:SPX
by Nathan_The_Finance_Hydra
1