Last post: June 16th 2018. See chart.
Review: Price was faced with the weekly 200SMA acting as resistance at circa 95.
Update: Price is trading above the weekly moving average but has remained in consolidation.
Conclusion: Waiting for a breakout above the March 2019 high.
price is in a symmetrical triangle while going through a consolidation period.
On the lower time frame, price seems to be reaching a resistance zone while creating HL's and HH's. I am waiting for price to retrace to the newly formed minor support zone to create a new HL so that I can go long until than.
Price has approached the top of its consolidation range, and has formed a spinning top candle, a good sign of Indecision. Since it is in consolidation, this could be a sign of another bounce moving price to the lower bound of the range.
Dropping to the 4 hour, we don't have signs of much bearish potential. There are signs of bullish potential...
The most recent Daily candle closed as a bearish pinbar, and on the 4 hour price closed below the consolidation zone.
Entered into a short on the 4 hour close, targeting the next 4 hour market structure level
Global Dow GDOW
Same thing here.
Testing resistance, in fact it's now sitting just a couple of points above the next line at 2930.
It's going to push back up to 3000-3003 sooner or later, just over 2% on this chart.
Look to buy SPX or any major market either on any retest of the rising dynamic if we get to see it- or on further strength above 2935 on this chart...
MSCI World Futures Index USD FMWO1!
An excellent day for bulls all over the world.
Now most markets are testing important resistance levels (Hang Seng, Sensex, SPX and Nasdaq)
and are vulnerable to fairly light profit taking in the very near term.
The MSCI World Index is also very close to resistance at 5873.
Has to break above here to confirm further strength...
USD/JPY couldn't break the monthly support of 112.02 convincingly, hence a reversal in momentum following the rejection of this level. Price structure has been broken as the consolidation zone and both the EMAs have been taken out as the previous candlestick has closed above on the H4, enticing a strong bullish move. The 61.8 fibonacci retracement has been...
- Bullish divergence on H4 using stochastics
- Breakout of the consolidation zone and mini channel on the H1
- Supported by monthly key level if price decides to retest the consolidation zone once again
- 90 pips target with 45 pips stop loss
- Bearish divergence on the H4 using stochastics
- Price seems to be rejecting the major daily resistance level of 114.33 and started to consolidate on the H1 before breaking out this zone to the downside
- Could see price heading towards 113.00 as it fulfils the fibonacci 38.2 level on the D1 as a well due retracement after consecutive bullish moves
RSI Bullish Divergence on the H1.
Price action consolidating above the major daily support level of around 1.2900 and awaiting a breakout most likely to the upside.
Uncertainty can be seen on the candlesticks, dojis and spinning tops with small bodies, suggesting the rejection of this support and a potential bullish move to 1.3000 as the first target.
Last post: June 15th. See chart.
Review: Price was pulling back after being in a nice uptrend.
Update: Price is stuck inside the consolidation zone and currently at the support area.
Conclusion: We need to see a breakout of this consolidation zone before looking at any trading opportunities.
Any comments or questions, do not hesitate to leave them below....
A very deep gartley pattern is possibly on the cards for next week on this pair. As it did not break the 78.6 retrace on leg A-B and also leg B-C did not break the 88.6 retrace i find this to be a valid pattern which follows my rules. with a very small stop loss required due to how deep this pattern is, this could be a great set up to keep an eye on for the next...
Last post: June 21st. See chart.
Review: Price was approaching the resistance level.
Update: Price is still on its way to target the resistance level.
Conclusion: We continue to wait and see if price can break through resistance and leave the consolidation zone.
Any comments or questions, do not hesitate to leave them below. Give us the thumbs up if you...
Last post: April 18th. See chart.
Review: Price had just broken out of the previous resistance level.
Update: Price went back below the resistance level then went into consolidation, but has since made new highs and broken a higher resistance level.
Conclusion: We will be looking for long opportunities following the next breakout.
Any comments or questions,...
Last post: May 29th. See chart.
Review: Price was back at the support zone following good bearish moves. We wanted price to clear support and continue weakening.
Update: Price did not break support. Instead, it bounced off support, pulled back to the resistance high, bounced off resistance and is now back at the support zone.
Conclusion: This is very much...