PRICE ACTION TRADE IDEAS for SPY NVDA QQQ IWM APPLE AMD TESLA

Unco Chartist LLC
1 Apr 202418:01

TLDRIn this video transcript, Uncle Charis offers an unbiased price action analysis, discussing various trade ideas and market insights. He emphasizes the importance of following price action rather than predictions and provides specific support and resistance levels for stocks like DJT, SPY, NVDA, and AMZN. He also mentions a 50% off deal for his Discord community, encouraging viewers to join for more trading discussions and analysis.

Takeaways

  • 📉 The speaker emphasizes the importance of unbiased price action analysis and trade idea execution, highlighting a specific trade idea involving DJT that resulted in a significant move.
  • 🚀 The speaker encourages joining their Discord community for trading discussions and offers a 50% deal for both monthly and yearly memberships.
  • 📈 The script discusses various stocks and their price levels, including SPY, NVDA, Tesla, and Apple, providing specific levels to watch for potential bullish or bearish signals.
  • 🔢 The speaker mentions key Fibonacci levels and trend lines for different stocks, such as 52.6 and 519 for one stock, and how these levels can influence trading decisions.
  • 📊 The concept of not calling tops but instead identifying price action confirmations is stressed, with the speaker advising to trade based on these confirmations.
  • 🐑 The metaphor of 'sheep' is used to describe following the market trend and price action, emphasizing the value of not trying to predict but to react to market movements.
  • 📉 The speaker expresses a bearish sentiment on Tesla as long as it remains below 177, with potential downside targets identified.
  • 📈 For Amazon, the speaker is overall bullish as long as the price remains above 179, with potential resistance levels discussed.
  • 📊 The script includes a discussion on potential chart patterns, such as double tops and head and shoulders, and their implications for trading strategies.
  • 🤝 The speaker invites viewers to engage with the content by liking the video and joining the Discord community, emphasizing the mutual support and learning within the group.

Q & A

  • What is the primary focus of Uncle Charis' YouTube channel?

    -The primary focus of Uncle Charis' YouTube channel is to provide unbiased price action analysis for trading.

  • What was the trade idea discussed in the Discord that Uncle Charis mentioned?

    -The trade idea discussed in the Discord was to short DJT if the 58.7 level failed as support, or to go long only if 61 or 63 was cleared.

  • How did DJT perform according to Uncle Charis' analysis?

    -DJT broke the 58.7 level and went as low as 45.6, closing around 48.66, providing a good move for those who caught it.

  • What does Uncle Charis advise about trading communities?

    -Uncle Charis advises considering joining his Discord trading community for those looking to be part of a trading group.

  • What is the significance of the 52.6 and 519 levels for Uncle Charis?

    -The 52.6 and 519 levels are significant as they are Fibonacci levels that Uncle Charis uses to determine potential entry and exit points for trades.

  • What is Uncle Charis' stance on following the trend?

    -Uncle Charis believes that following the trend is important and considers price action as the 'family' in trading, emphasizing that the trend is your friend.

  • What did Uncle Charis say about the potential bearish pattern for Apple?

    -Uncle Charis mentioned a potential bearish head and shoulder pattern for Apple, with a neckline at around 170. A breakdown below this level could signal a bearish continuation.

  • What is the condition for Uncle Charis to change his bearish sentiment on Tesla?

    -Uncle Charis' bearish sentiment on Tesla will only change if the price recaptured 177 and 180 levels, otherwise, he remains bearish.

  • What advice does Uncle Charis give about trading?

    -Uncle Charis advises trading unbiasedly, following the price action, and not being driven by greed. He emphasizes the importance of reacting to the market and not letting personal bias influence trading decisions.

  • How does Uncle Charis feel about the performance of his YouTube channel compared to others?

    -Uncle Charis expresses disappointment that other YouTubers who give predictions get more followers and views, despite often being wrong. He believes in teaching real trading methods and is disheartened that some people prefer predictions over learning actual trading skills.

  • What is the promotion Uncle Charis is offering for his Discord membership?

    -Uncle Charis is offering a 50% discount for the first month of Discord membership, and this deal also applies to yearly memberships.

Outlines

00:00

📉 Trading Strategies and Market Analysis

This paragraph focuses on Uncle Charis's trading strategies and market analysis. He discusses an unbiased price action approach, highlighting a specific trade idea involving DJT stock. The emphasis is on identifying support and resistance levels, such as the 58.7 level and the 61 or 63 clearance for potential long positions. He also mentions a successful trade that resulted in a significant price drop to 45.6 and encourages viewers to join his Discord community for more trade ideas. Additionally, Uncle Charis critiques other YouTubers who make predictions instead of teaching practical trading strategies. He concludes by discussing the SPY's performance, potential M pattern, and double top formation, emphasizing the importance of following price action rather than predictions.

05:00

📈 Market Trends and Key Levels

In this paragraph, Uncle Charis continues his market analysis, discussing various stocks and their current trends. He mentions NVDA, stating that a close above certain FIB levels is needed to confirm a bottom. For Tesla, he maintains a bearish stance unless the price recaptured 177 and 180. The discussion includes IWN's pullback and potential head and shoulder pattern, with a focus on key breakout levels. Apple's downtrend and AMD's attempt to bounce above the 180 level are also covered. The paragraph concludes with an analysis of Amazon's bullish stance contingent on staying above 179 and Netflix's bounce off the trend line, with a warning about potential bearish signals.

10:02

💹 Stock-specific Analysis and Predictions

Uncle Charis delves into stock-specific analysis, providing insights on various companies. He discusses Microsoft's gap up and the importance of the 424 level, indicating a bullish stance above this point. He also covers Google's false breakout setup and the potential for a bearish trend if certain levels are broken. Meta's bullish continuation is highlighted, contingent on clearing the 497 FIB level. The paragraph ends with a discussion on DJT's performance, which treated Uncle Charis well, and the potential for a bounce if certain levels are cleared. He also mentions Bitcoin's consolidation under the 71k level and the importance of breaking through for a bullish outlook or a breakdown for a bearish trend.

15:02

🚀 Market Sentiments and Final Thoughts

In the final paragraph, Uncle Charis shares his overall market sentiments and final thoughts. He provides a broad analysis of the market, noting bullish trends for stocks like NVDA, Tesla, Apple, AMD, and Google, while Meta remains bearish. He also comments on the volatility of Netflix and the bullishness across the board, except for DJT. Uncle Charis emphasizes the importance of trading unbiasedly and following the market's lead. He encourages viewers to join his Discord for more in-depth analysis and reiterates the 50% off deal for the first month, inviting them to become part of the trading community. The paragraph concludes with a motivational note, urging traders to use the provided information to make informed decisions.

Mindmap

Keywords

💡price action analysis

Price action analysis is a method of technical analysis that focuses on the study of historical price movements of a financial instrument to predict future price movements. In the video, the speaker emphasizes the importance of unbiased price action analysis and uses it to provide trade ideas and identify potential market trends.

💡support and resistance levels

Support and resistance levels are key concepts in technical analysis that refer to price points where an asset's price has historically had difficulty moving beyond. Support is a price level where buying interest is strong enough to overcome selling pressure, while resistance is a level where selling pressure is strong enough to overcome buying interest. In the video, the speaker uses these levels to identify potential entry and exit points for trades.

💡FIB levels

FIB levels, or Fibonacci retracement levels, are a set of ratios used in technical analysis to identify key areas where a financial instrument may experience a change in trend or find support and resistance. These levels are derived from the Fibonacci sequence and are commonly used to predict potential reversal or continuation points in a market. In the video, the speaker uses FIB levels to identify critical price points for potential market reactions.

💡trend line

A trend line in technical analysis is a straight line that connects a series of lows (in an uptrend) or highs (in a downtrend) to identify the direction of the market. It helps traders visualize the overall trend and can act as a dynamic support or resistance level. In the video, the speaker uses trend lines to analyze the direction of various financial instruments and to identify potential reversal points.

💡head and shoulder pattern

The head and shoulders pattern is a technical analysis chart pattern that indicates a reversal in the trend from bullish to bearish. It consists of three peaks to the upside with the middle peak (the 'head') being higher than the other two (the 'shoulders'). This pattern is used to predict potential price movements and is considered a bearish signal. In the video, the speaker asks viewers to identify if a head and shoulder pattern is forming, which would suggest a bearish outlook.

💡false breakout

A false breakout in technical analysis refers to a situation where the price of a financial instrument moves beyond a significant resistance or support level but then reverses back within the previous trading range, failing to continue in the direction of the breakout. This can be a deceptive signal for traders and often leads to a continuation of the previous trend. In the video, the speaker identifies a false breakout setup and explains how to trade it.

💡Discord channel

A Discord channel, in the context of the video, refers to a specific chat room on the Discord platform where the speaker and his community members discuss trading ideas and share market insights. The speaker encourages viewers to join his Discord channel for real-time trade ideas and community interaction.

💡bearish and bullish

Bearish and bullish are terms used in financial markets to describe the overall sentiment or预期 of market participants. A bearish sentiment indicates a belief that prices will decline, while a bullish sentiment indicates a belief that prices will rise. In the video, the speaker uses these terms to express his views on the potential direction of various financial instruments based on his analysis.

💡gap down

A gap down in technical analysis refers to a situation where the price of a financial instrument opens lower than its previous closing price, creating a 'gap' on the chart. This often indicates a sudden shift in market sentiment and can be a sign of selling pressure. In the video, the speaker warns viewers to watch out for a potential gap down, suggesting a bearish outlook.

💡consolidation mode

Consolidation mode in technical analysis refers to a period of time when the price of a financial instrument is trading within a relatively tight range, indicating indecision among market participants and a lack of strong directional momentum. In the video, the speaker mentions that a particular instrument is in consolidation mode, suggesting that a significant price movement may not be imminent.

Highlights

Unbiased price action analysis is key to successful trading.

A trade idea was discussed in the Discord channel involving DJT stock.

The strategy for trading involves looking to short if 58.7 fails as support or going long if 61 or 63 is cleared.

DJT stock broke the 58 level, resulting in a significant move to as low as 45.6.

The importance of joining a trading community for support and shared knowledge is emphasized.

The SPY closed lower than the previous week, and the discussion revolves around potential patterns like an M pattern or double top.

Following price action is crucial, as it is considered the truth in trading.

The trend line for the 2024 trend is sloping up, currently at 519.

A breakdown of the 52.6 and 519 support levels would signal a bearish market.

The concept of not calling tops but instead identifying levels and setups for potential market movements is discussed.

The importance of recapturing lost levels to trust a bounce in the market is highlighted.

The discussion touches on the psychology of trading, emphasizing that being a follower is not inherently bad if one follows the truth.

The transcript includes a detailed analysis of various stocks and their respective support and resistance levels.

The significance of a false breakout setup and how to trade it is explained, using specific levels as examples.

The transcript also discusses the potential impact of a breakdown in the trend line and how it affects market sentiment.

The importance of trading without greed and reacting to market conditions is emphasized.

The transcript provides insights into the trading strategies for multiple stocks, including Tesla, Amazon, and Netflix.

The role of dark pool levels in predicting market movements is discussed, with specific numbers provided.

The transcript ends with a motivational message, encouraging traders to take advantage of a 50% off deal and join the trading community.