Nothing is stopping this market from moving higher. So let's jump on board as the system tells us. The first fractal breakout is about to get hit on the weekly. Unfortunately, there has been no previous signal to get into this trend. We'll see how far it can still run. Risk Management!
Looking at support and resistance lines plus various moving averages, I would say the DJ transports is like to range for the rest of this year or until September. After this time, this is when the market in general will make a decision about where the market is headed. My bias is for the downside. At the current moment i'd say its a good sell to support.
I have a solution. Use the moving average 50 period low. Check the 4h chart on US30. Insert a 50 period moving average low. Insert support and resistance lines. You will notice a couple of things, at the end of the last equity rally, it was profitable to short the market EVERY TIME once the price CLOSED below the 50MA. In other words you couldn't go wrong...
CAD is at some major resistance currently and expecting the YEN to follow Gold soon. We just completed a bearish bat and a false break of the trendline. I am short at 85.4. Expecting to see a lot of weakness. The target is open.
The substantial bounce off of 23-21 support at the daily level, as well as failure of megaphone top, means i'm inclined to look for 56-53 res retest. I'll look for profit there and the the megaphone upper trendline, ultimately a hold above 53-56 area should test the long term trendline above. If bears step in heavy and we get back below trendline and more...
The completion of bearish bat at 17490 provides a short term support for now but is a valid short setup. Can not rule out the attack on 18000 but it is not likely. However, load small and add on the way :)
Triangular geometry was designed to take on Keynesian markets.
$DJI at key LT mov avg resistance that seems to work since late 2011. Add to that 200MA cluster and prv support turnded resis level of 17000 round figure
S&P 500 CME_MINI:ES1! has produced a buy signal after the false break down and subsequent reversal higher. Daily chart shows inside bar false break ( fakey pattern ). Potential buying opportunity on pull back 1900-1915 support area, with initial upside targets to 1940-50 and 1960-80.
Hello Community! On my previous idea I had an expectation of US30 to recover some of the ground lost this year. It broke the 2016 trend line and headed to a channel limits placed over 16,560 value. Tested it several time and now looks like the quote goes down again. If my interpretation is correct, I´d say, we are somewhere near the end of the A wave....
In my last chart around 2 years ago entitled "SP500 BEARISH OUTLOOK - CLOSE TO FORMING GENERATIONAL TOP" (see link below), I suggested that a possible top could occur around 2000 - 2030 area which I believe is still within acceptable range for such long term analysis. It appears to me that the likely topping pattern we are witnessing could be part of a very...
Greeting Community! As we can see from the graphic, today the US30 broke a trend line (the huge blue one) which shows the downgrade movement since the beginning of the year. The green line shows the most recent performance. It is all green with quite positive outlook (I shall better say, no huge fundamental negatives can be forseen in the next days). Right now,...