PRICE ACTION ANALYSIS of SPY DXY QQQ DIA APPLE and TESLA

Price action analysis on SPY hello nieces hello nephews it's your Uncle Charlie's here welcome back to my YouTube channel where we do price action analysis unbiasedly and guys we got a nice Drop Intro day for the S P 500 some nice intraday move to the downside however can't get quite bearish just yet because the bull stepped up at a very critical level I have this trend line here that I want to talk to you guys about and I'll review quickly on how I traded today for educational purposes let's prepare alright guys so here is the 15 minute chart as usual this is where I execute most of my trades my levels my support resistant levels all based on the daily chart but I use a smaller time frame 15 minute 30 minute time frame to execute my trades okay I wrote here on my Discord as usual we gotta identify the first levels of resistance the first level of support relative to where the Spy decided to open and I wrote it I got 384.5 with 383 below as first support and 385 with 386.6 above as resistant watch for the first setup okay we always look to short when a support fail we looked along window resistant clears and we just try to play it level to level or as close to it as possible and here spy opened up here and it actually opened at 384.37 which actually made three 84.5 the first resistant went 385 and then 386.6 above okay you guys can see here it clear it all right cleared it on the 15-minute chart boom what do I say you want to enter you want to enter as close to the breakout as possible okay and then where I entered personally I entered on the 385 breakout I tried to enter as close to it as possible maybe around 35.5 385.10 around there my goal was to take profit around 386.6s that was on the daily chart based on the 38.2 FIB level from October low to December High you guys can see here we came a few cents short all right um I always try to tell my members you know when we take profit doesn't have to be perfect try to be as close to the next level as possible it doesn't have to be perfect most important thing is green I did not take my own advice today um I try to wait for it to hit that level play a nice level level move obviously you can see it did not happen we got a false breakout setup of the 385 and 3 84.5 level okay I ended up getting rent and it's fine because it makes good content for my YouTube channel and it gives me a chance to explain you when I cut my loss okay we cannot continue stubbling holding when a trade setup did not work out in a favor so as I said I was very nicely green when it popped but then we broke down 385 that's where I just cut my loss okay now how do Uncle How I cut loss Charles caught his loss two things that I do uh I watched the 15 minute chart let's say I enter on the breakout of 385 and then the next candle it closed below 385 on the 15 minute chart meaning you know on the 15 minute candle gave me a close below it that's when I caught my loss okay but sometimes we get situations like this where the price moves very strong very fast okay and it can go against me in that case I give it a dollar all right so if I entered on 380 if it hits 379 I caught my loss that's what I did today I took a rent I took an L man okay but that's you know the the first pro first post or the second poster they aren't the only posts that are right okay I write posts and give out trade ideas throughout the day I wrote here 385 is now support no puts unless it fail so I missed that trade because I was holding a position I had to take time to cut my loss so I ended up missing that train however you missed one setup you gotta catch the next setup which I alerted in the group plan now puts the 383 failed to continue down move calls if 385 recapture and you guys can see here we broke down 383 where do we look to enter as it breaks down is it guarantee it's gonna work no but you gotta roll the dice sometimes and it worked out very well it hit the next level level move at 381.5 okay I shaved off some profits it would drop down to 380ish I shaved off some more profits and I left a runner okay now where do I set my stop loss like I said if it closes above the level I entered or I set it above a dollar okay so I entered on breakdown 383 my stop loss would have been around 384. you guys can see clearly that my stop never got hit so I took profits as it hit my level left for Runner and my my Runner got stopped out towards the end of the day I was able to play it down to 378 took more profits there and then once it hit 378 I just moved up my stop around 380 and it hit it unfortunately but end of the day green which I shared in my Discord members for my Discord members excuse me anyways so that's how I traded it okay even though I got faked out you know I could I respected my stop loss even though I missed the prime entry I missed the top you can say I still just you know catch the next setup one setup to the next okay so it was a bit challenging today but overall end of the day pretty nice it was challenging in the morning but and today pretty nice okay so let's this brings me to the Daily chart analysis for SPY daily chart all right I got him I got a lot of lines here but I'm gonna make it very simple for us I'm gonna take out these lines I need these lines for my trading to find my levels okay but to explain this I'll make it a little more simple and take out most of the lines okay I got a trend line here that I need us to pay attention to I would like for us to pay attention to starting from October 13th low connects to December 22nd December 28th low and also today okay balls step up the breakdown level was at 378. if it did if we would have got that breakdown I would have favored more downside I believe if we break down this trend line here I think we're gonna get the next multi-day sell-off that's when I would swing puts okay um and then of course around the the FIB level around 386.6s but you guys can see here all right boom look like an ascending triangle I guess you could say all right but overall everything in this range to me in my opinion is chopfest okay we could also look at it at it from a you know from a different you know pattern like a Bear Flag okay either way you still need to break down that 378 level all right in my opinion so break down this trend line to the downside which is around 378 377.6 is uh let me let me be more specific with you guys okay so the specific number is 378.4 but I'm gonna say 378. you know just to be safe okay break down 378 I would swing puts okay we'll break down on this trend line right here okay I have four touches so it's official okay as far as swinging calls I need to see a clear 386.6s okay break above that and maybe I will swing calls we could favor our favorite test in 388 390 392 is you know 393.5 and 395. all right you guys got my levels all right so swing calls above 36.6 swing puts below 378 anything in between in my opinion is is chop noise but you can still there's still opportunities to trade it of course as long as you know the levels so uh obviously we got that 380 level all right we got 378 above that's 380 382 to 381.5 Zone 383 385 and then 386.6 all right please add these levels to your charts so you know we can be on the same page as each other all right so yeah bear case is below 378. both case is above 386.6 anything is between that's the chopped case play it level to level scalp it whatever you got to do as long as you stay green okay very simple and straightforward I hope you that was clear enough for you guys okay triple Q QQQ um I try to be neutral with the Spy especially when it's in chop mode like this but you guys know my bokeh isn't bad case however with triple Q I'm I'm bearish on it right you guys can see this white trend line that I mentioned you guys multiple times we broke it down back into summer 22nd okay back tested today as a resistant and we found selling pressure Bears stepped up where they need to when the level that we broke down there was a previous support level a failed support level but it acts like a successful resistant level that's bearish price action as bearish price Behavior okay so it's around 2 64.4 ish that's where it closed today first resistance I got is at 265.5 267. okay and then the white trend line now is at 269.8 ish can run it up to 270. so I can't get bullish on Triple Q unless it recapture this white trend line and break above 270 to go test 273 274.7 276s yeah that orange line right here 276.2 ish okay got multiple tests they have support broke it down maybe we'll back test that as a as a resistant okay but that will have to get through this white trend line first so as long as below 270 I am bare biased and I will continue to be bare buyers on Triple Q all right 265.5 is first resistant now as far as support goes got this critical support at 262.4 all right this bluest trend line right here you guys can see how well respected that trend line is and also respected it today I would be bearish if we break down 262.4 okay that's the breakdown level we had a false breakdown of this level before usually usually the you know market makers probably won't pull the same trick twice where we break it down and then recapture so maybe the next breakdown will be more real we'll we'll see of course but it has to break down 262.4 the next support I'll have will be at 259.7 to 260. and maybe we'll drop all the way down to 254.2 ish okay back in October 13th low all right so bear case starts or continues with 262.4 failing okay I can't get bullish unless it's above 270 anything in between those levels are chop all right y'all got my levels let's move on to the Dow Jones as you guys can see DIA here is also chopping chop face man orange line right here that's a 23.6 FIB level at 333.6 full case or swing calls when that finally clears you can see how well respected it is and you can see the support Blue Line right there 328.5 as you can see how well it's been respect and that support as well so 328.5 to 333.6 is the chop range with the middle level or the equilibrium level that I got is at 330.8 ish okay anything between these levels are chop You Can level level day trade it up to you but I would feel more comfortable about swinging calls above 330 3.6 and Swinging puts below 328.5 okay Tesla TESLA had a level at 16 17.5 I shared these levels every morning on on my Fang Mt Fang mt's levels Tesla right there and this on my sub stack as well but yeah 117.5 was the first support level uh for Tesla and it just you know just broke down does not look good so we closed around 108 10. all right so I got first support at 110 112 115.5 and 117.5 okay gotta recapture that 117.5 if you want to be bullish because that was where the big breakdown started all right okay so next uh support our guides at 106 104.6 and what else do I have here I'm adjust my FIB Channel got some at 103.5 as well and in the support around 100 and a very big critical one around 89 to 90. okay we'll see if that gets tested and after this big sell-off today it might who knows though stay unbiased APPLE had that 129 level guys this is Apple 129 level based on June low broke it down with authority today holy moly how to support around 126 broke that down but it closed right around this orange trend line that I got connecting to uh July 8th last year's low to October 4th low um had a false break down here back in June and we closed right around there today okay so support critical support is around 124.7 lose that that would be a breakdown of this orange trend line go test 122.3ish maybe go test 118 excuse me 119 level and I got 116.3 ish and 113.2 ish below that all right so downtrend move continues but gotta break down that 124.7 now we want to get bullish here gotta recapture 126. and definitely recapture 129 because that's where the big breakdown started to put uh 131 134.4 and 137.5 back in play all right guys and let's look at some inverses here's VIX & DXY the vix now you know we had a bunch of chop with the Spy you know these past few weeks but the whole time that was happening the vix was staying below that 22.7 level that's a fib level I got that's of uh 23.6 FIB level okay today though for the first time in a while uh vix decided to close above 22.7 okay so the vix despite this red hammer candle it did give us a higher close than what it gave us these last uh couple of weeks okay so as long as above 22.7 that's bullish for the vix it needs to uh clear 23.5 rejected around there today to put 25 25.8 and 26.5 back in play okay if it drops below 22.7 obviously that's a false breakout okay and dxy also gave us some reaction today okay some legit reaction where it's try to recapture you know big green candles trying to recapture this 104.38 level okay so I do have the next uh resistant around 105. I need to see it clear 105 to put 105.8 106.6 and possibly a test of 107.9 back in play okay so as long as above 104.3 I would be bullish on dxy at least for the short term all right let's end this with the Option flow option flow filter for 500k premiums or above okay overall bearish 82 percent in the puts here a lot of the block orders are in the money puts coming in for late January mid-march okay seeing a lot of sweep orders out the money puts for early February mid-march uh some 360 strike price here okay but overall big money is bearish on the Spy triple Q uh 51 so not as bearish as usual okay so we all seeing some calls uh this one this one right here that sticks out over eight thousand side January 6 expiration day 270 strike price so somebody is short-term bullish on Triple Q okay January 6. uh they entered around 262.9 that was their entry price okay sweep order 907 came premium that's pretty aggressive okay so that definitely sticks out to me okay especially since I'm a day trader um Dia nothing Tesla oh 83 into puts okay the block orders continuing to come in with those very in the money puts the sweep orders um got us a short note that's a leap 220 2024 yeah okay so 200 straight price for those calls okay so somebody's accumulating for next year around these levels um with these puts right here 130 this one's 95 so that's a little out the money 130 130 is a hundred okay but overall bearish all right this person right here even this person January 6th strike price 100 strike price excuse me expiration date January 6 100 strike price they're bearish in the short term okay they entered around 107.5 look at Apple 100 in the puts mostly block orders for later end of the towards the end January 20th very in the money puts okay so nothing but puts okay let's end this with vix and this got a split order of calls 20 strike price for June for later this year okay guys so that's what I have for you guys today thank you guys so much for watching if you guys want more content from Uncle Charles please consider joining my Discord and definitely use the coupon take advantage all right thank you guys so much peace