Hello All,
Yesterday's MARKET RECAP!
We were actually expecting a fall during the NEW YORK session but sadly we didn't see it however that's not the end of TRADING coz without failing we won't learn and without learning we won't develop. We were all anticipating for the fall after some aspects were considered, one major aspect was to reach zone $1847-50 but sadly we didn't see it being hit and instead we saw a consolidation (RANGING) market, up until today we still experiencing the same.
TODAYS ANALYSIS.
The Market is on ranging although we still have our set ups ready, for instance if the current market moves and breaks level $1844-45 then we should expect to see $1855 however there is a possibility that the MARKET won't reach the levels we are anticipating for that is since it's currently on a ranging zone(consolidation) then we should expect a correctional move , meaning we have to have $1855 hit then a bounce back to $1823.
NOTE when $1823 - 25 get's broken then we are certain of our fall which will end up at $1800-05
We could as well see $1844 hit forming some sort of a double top and then we could see our fall.
Scalping is an alternate solution for this kind of Market and notice how we have been seeing ranging markets mainly this week, otherwise for the one's who usually go on Short Term Trades, the Ranging Market is also a good Market for you to play with.
(Just identify the SUPPORT & RESISTANCE ZONES, highlight the zones when the market is at a resistance level you give it A SELL, when the Market is at SUPPORT LEVEL you give it a buy and when the market is at middle levels that is between the support and resistance you hold, and wait for the market to reach either the support or resistance. however when you continue trading with the RANGING MARKET please be careful in identifying the breakouts , some could be false breakouts and some could be correctional breakouts.
For those few REMARKS wish you all the best and until then CIAO!
Yesterday's MARKET RECAP!
We were actually expecting a fall during the NEW YORK session but sadly we didn't see it however that's not the end of TRADING coz without failing we won't learn and without learning we won't develop. We were all anticipating for the fall after some aspects were considered, one major aspect was to reach zone $1847-50 but sadly we didn't see it being hit and instead we saw a consolidation (RANGING) market, up until today we still experiencing the same.
TODAYS ANALYSIS.
The Market is on ranging although we still have our set ups ready, for instance if the current market moves and breaks level $1844-45 then we should expect to see $1855 however there is a possibility that the MARKET won't reach the levels we are anticipating for that is since it's currently on a ranging zone(consolidation) then we should expect a correctional move , meaning we have to have $1855 hit then a bounce back to $1823.
NOTE when $1823 - 25 get's broken then we are certain of our fall which will end up at $1800-05
We could as well see $1844 hit forming some sort of a double top and then we could see our fall.
Scalping is an alternate solution for this kind of Market and notice how we have been seeing ranging markets mainly this week, otherwise for the one's who usually go on Short Term Trades, the Ranging Market is also a good Market for you to play with.
(Just identify the SUPPORT & RESISTANCE ZONES, highlight the zones when the market is at a resistance level you give it A SELL, when the Market is at SUPPORT LEVEL you give it a buy and when the market is at middle levels that is between the support and resistance you hold, and wait for the market to reach either the support or resistance. however when you continue trading with the RANGING MARKET please be careful in identifying the breakouts , some could be false breakouts and some could be correctional breakouts.
For those few REMARKS wish you all the best and until then CIAO!
Trade active:
As indicated earlier, when everyone else was in for a long buy nobody anticipated for the fall, but i did we will possibly be seeing $1838 Hit and when it's hit the run should be long! unless something happens in between.
Kindly Note we have our trend line broken, which is first indication that bulls are almost loosing their grip of the MARKET, Momentum Increase for the sellers good indication, awaiting further confirmation but as of now $1838 should be our Take profit Zone, only when it's broken then we can continue selling.
Kindly Note we have our trend line broken, which is first indication that bulls are almost loosing their grip of the MARKET, Momentum Increase for the sellers good indication, awaiting further confirmation but as of now $1838 should be our Take profit Zone, only when it's broken then we can continue selling.
Trade active:
In 2HR Time Frame we see a bounce from the previous Resistance Level that is $1849 this means the fall is headed for the previous Support level at $1827, let's breath in Deeply and then move forward, in 1 Day Time Frame we have an Engulfing candle. The Fall is expected to be Long before the close of the MARKET, But seems as if BULLS are as well Declining the SELLERS order.
Up until Monday do wish you all a wonderful weekend.
Up until Monday do wish you all a wonderful weekend.