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makuchaku
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Posts posted by makuchaku
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Hi everyone,
This is my maiden analysis using volume profile - so please don't hesitate to share your feedback.
As per the attached analysis, I think that SPY is primed for a short - for many reasons
- Multiple strong rejection of long positions exist at Resistance R1 and R2 : seems like sellers defending their positions
- Very strong short volume seen at R2 : further signifying sellers who are ready at that levelHowever, once the price reaches Support S1, there seems to be a strong buying sentiment which has rejected previous shorts. You can see trading ranges & pullbacks to S1 where buyers and sellers seem to agree on a price range, often leading to a buyer dominance.
What do you think?
Introduce Yourself Here - Don't Be Shy!!
in Beginners Forum
Posted
Hi,
I am new here - just made my maiden post about what I think about SPY's future.
I've been learning how to trade since last 3-4 months only. It would be great to meet like minded folks!
Cheers!