In this blog post, you will learn about SwingArm Market Analysis which is presented by Jose Azcarate. He is classified as a master trainer in the blackFlag Futures Trading industry.
You can follow Jose on Twitter.
Indices Review:
SwingArm Market Analysis:
In the two-day view, the candle is opening above the trendline, which could act as support. It is important to note that this timeframe takes time to play out, and if support holds, there may be another attempt at reaching new heights.
Among all indices, NQ is the most bullish, with all indicators on the 15-minute chart showing bullish trends. Conversely, RTY is the most bearish, with the 4-hour HP now bearish, as well as the 2-hour and 1-hour charts. ES has a squeeze, which is showing a topping swingarm on the 1-hour chart targeting the 2-hour zones, with the 15 and 30-minute internals in between.
From a one-hour perspective, all waves are bullish, but the upward energy seems to be losing momentum.
Regarding the regression channel perspective, all timeframes show a bullish regression, even the 1-minute chart. The 1-hour chart broke below the trendline and is now backtesting it as resistance in conjunction with the 30-minute zones. The 15-minute high pressure shows the squeeze targeting the 4185 zones (assuming the 30-minute internal breaks up).
The 1-minute chart is bearish and is looking to find support at the 15-minute zones below. What happens today is uncertain, so avoid trading based on hopes and opinions. Allow the system to set up and provide the entries.
For new traders, it is essential to paper trade when learning. Always protect capital and focus on making money. Refrain from asking questions during trading hours unless I ask for questions. When joining the chatterbox, turn off your mic.
From time to time, as setups start to develop, I will open up the mic and walk new traders through what the system is showing and where potential opportunities may develop. Enjoy the journey, and always remember to practice caution and diligence in trading.
Notice the chart and see why the price has been unable so far to break, the 2 Day level/trendline is at 4156 providing support.
The 15 Min is about to break giving us a Sell opportunity at the backtest.
We may also have a buy as the bounce-to-backtest happens