@StealthInvest
Some thoughts below with a D Bar, D HA (Heiken Ashi) / Ichimoku & a W Bar.
Summarising that the area SP in now is a prev support & now resist point. Nothing outstanding vol wise on the wkly & will need show some if looks like confirming a poss Ascending Tri on the wkly chart & also breaking this resist area. A confirmed break could see high 30's next level.
Just numbered areas of interest on each and will do quick explanation prior each chart.
1. Summary panel of the pivots on the chart & distance SP from last H & L (D, M, W). If green from low then SP putting in higher lows & if red from top then lower highs or essentially a tightening. Yell is neutral which can see D is hitting now on the high. Want to start seeing greens on the top showing SP breaking upward.
2. Summary panel of a number of indicators, bullish, bearish or neutral.
3.Start of the year can see the support come in high 20's which eventually broke down. Prev supp general becomes resistance as evidenced a couple of months ahead second half of the year. Hitting into that area again now.
4. Orange line is 200MA & Teal line a 13MA. SP just broken both for ST move & longer term possibility. A break of 200 can sometimes attract traders from a TA view. Can retest as support.
5. Looks for bullish / bearish bias, spikes & poss reversals. When above or below centre then bias respectively bull / bear but rangy & a break outside bands & colour change is more a sharper move into poss OB or OS areas & when weakens or rolls over back towards centre bands then can poss range.
6. Similar to 5 but diff data source & colours the SP bars on centre crosses for bull / bear bias.
1. Same as above chart with supp & resist plus confirmation via Fib lines and area of resist now. The Kumo (cloud) can also act as supp or resist dependent on where SP sits & will also change colour for a bull / bear bias and also provide info on poss trend eg. sloping down & red first part of the year to a flattening recently.
2. From the flattening Kumo can see that retest of supp, a bullish Kumo twist, some indecision HA doji candles as mkt decided & then the upside move into resist now.
3. Slight upturn in Kumo ahead & generally the thicker the Kumo the more supp or resist it can provide.
4. Some combined indicators in background & simplest if the arrow, H & green histo for positive move. If histo darkens then upmove can be weakening. A cross of centre can potential entry / exits.
5. Same as point 6 above.
1. Weekly chart with a linear regression overlaid with centre red dotted line & then 1, 2 & 3 deviations from there outwards. Generally expected that SP will revert to the mean / centre but will obviously also overshoot as is the way of the mkt. The deviation lines can be helpful for other possible supp / resist zones. Is also good visually as will follow overall trend of the chart & as can be seen, overall an uptrend last couple of years.
2. Volume profile same period and can indicate what level most trading took place. SP heading into that area now & corroborates other indicators in above charts.
3. Possible W ascending tri as gets higher lows but struggling the top level resist.
4. Indicative yearly pivot points.
5. Simple vol indicator to highlight higher vol spikes as areas of interest & paints the SP bars.
