USDJPY H4 - Nice Double top in sight, rejections of 106.300 would be ideal, two heavy monthly key levels and a week, local H4 resistance, should see a reaction at 106.300 price for hopefully this bearish USD downside continuation after a recent relief rally.
We captured the lovely sell-off on GN this week as we planned for the down-trend to be respected, getting traders caught on the wrong side of the market that were expecting a break out. No sign of a breakout just as of yet. towards the end of the week we did see a slight recovery back to the initial position creating a lovely 'Double-Top' formation and...
As hard as it is to predict the movement of any index fund at the moment without a deep dive into the fundamentals - it appears DJI has formed a well respected ascending trend line with several higher highs and low tests. Within the current economic bubble we can expect a crawl up to our recent highs of 27500 (at least) before re-assessing.
S&P 500 Index Full Analysis (Still Bearish Here)
I would like to give a full analysis of the S&P 500 Index (SPX) chart... Let's get started!
We will look at my classic signals and then a general view.
The classic bearish signals coming out of this SPX chart are as follow:
The first thing to notice here is a lower high compared to the 8-Jun.
I shared a...
On the lower time frames we have broken an ascending channel and price also rejected and formed a double top. Price has huge potential to the downside: the beginning of the lower time frame channel, the longer wider ascending channel support, and the beginning of the whole structure.
The momentum has been very strong to the upside in this index and we could see a slight retrace before targeting all time highs. However we could also see a drop here, because other indices are giving out bearish signs so we have to bear that in mind too.
The Dow Jones Industrial Average Index (DJI) is also looking bearish.
This chart tends to look very similar, almost the same, as the SPX (S&P 500 Index).
The signals coming from this chart goes as follow:
1) Decreasing trading volume.
2) Lower high.
3) Bounce completed.
4) Drop below EMA10 and EMA50.
5) MACD bearish cross while trending lower.
6) RSI broke below...
8000 barrier on Nasdaq
If the price manages to break completely the Key level @8000 & trade above it, bullish scenario will be confirmed.
To enter a buy trade we’ll then need confirmation on multiple time frames M5, M15, or H1 (i.e Breakout and Retest of the KeyLevel.
If price fails completely to break Key Level @8000 (meaning...
Hardly anyone looks at the Australian 200. It is one of the best indices to short.
The Aussies strangely went north at open of their market last night - when the rest of the world's indices were burning down. There is usually a significant lag between the AUS200 and the other indices, which I decided to exploit.
This morning 08:30AM 2020-04-01 it's struggling...