Dow Jones went from oversold to neutral on its 4H technical outlook (RSI = 51.457, MACD = -63.520, ADX = 28.038) as the price bottomed on the LL trendline of the three month Channel Down and rebounded straight to the 4H MA50 today. This is the short term Resistance, a closing above it confirms the 2nd part of the rally to the 4H MA200. The 4H MACD is on the same...
Nasdaq is trading inside a Channel Down since the July High and is naturally on bearish 1D technicals (RSI = 39.169, MACD = -233.06, ADX = 37.454). This is a buy opportunity though as the price is rebounding today after making a LL bottom almost on the 1D MA200. That is a long term Support level, being unbroken since March 13th. The second bottom indication is...
Nifty 50 turned oversold last Thursday on the 1D technical outlook and that attracted investors which restored the timeframe from oversold to just bearish (RSI = 38.950, MACD = -141.600, ADX = 34.223). This shows considerable buying strength, a little over the 1D MA200, a support level that is holding since April. The price action look very much like...
S&P500 is almost technically oversold on the 1D timeframe (RSI = 30.205, MACD = -54.210, ADX = 37.499) with the price reaching the 0.618 Fibonacci level from the March 13th Low. The last time the RSI was at 30.000 was on October 3rd, the previous LL of the Bearish Megaphone pattern. The two bullish sequences of this pattern have been around +4.60%. Since this is a...
On Daily Timeframe, BANKNIFTY trading at important support zone. Time to wait for either breakdown or reversal for the Banknifty. Case 1: Consolidation Move - Banknifty can consolidate near this support level before the strong movement - Consolidation zone is nearly 500 points from 44000 to 44500 level Case 2: Breakdown Move - Confirmation for breakdown will be...
DAX hit (even breached) the bottom of the Channel Down on the 1D timeframe and reacted with a rebound. It is not a strong one yet as the 1D technical outlook is still bearish (RSI = 34.478, MACD = -177.100, ADX = 34.069) but the remarkable symmetry with the two bearish legs prior, calls for a currently undervalued price for the short term. Technically the two...
S&P500 is making contact today with the 1D MA200 for the second time in 2 weeks. The 1D technical outlook is naturally bearish (RSI = 38.503, MACD = -22.450, ADX = 29.479) since the 3 month pattern is a Bearish Megaphone and we are on the third selling sequence. It is not necessary to make a new direct hit on the LL trendline as the utmost technical support level...
DAX is trading inside a Channel Down since July 31st and lately has been on the decline after a rejection on the 1D MA50. Naturally, its 1D technical outlook is bearish (RSI = 38.140, MACD = -103.800, ADX = 23.717) but also low enough to justify a short term rebound. We expect one last 1D MA50 that will decide the long term trend and based on the previous -6.50%...
US30 H8 We indicated the 34000 sell zone yesterday, and we have since seen a tame 1.5R from this area. Speaking with a few followers, this is something they've capitalised on. That being said, the concern for DXY downside throws a spanner in the works, and the chances of US30 pushing towards 35000 is becoming more and more. 35000 is certainly a preferred sell...
S&P500 hit the 4,375 target of our last signal (chart at the end) and turned neutral on the 1D technical timeframe (RSI = 54.575, MACD = -15.020, ADX = 40.128). The rise is now approaching the 1D MA50, over which the new top was formed before on the LH of the Bearish Megaphone. We will wait for the top and short, aiming at the 0.5 Fibonacci retracement (TP =...
As per our previous post, the US30 had a 10% probability of going lower and it has turned around this week to confirm its bottom according to our smart money indicator. The weekly is on a Uptrend P2. The 2nd daily bottom is it's 2nd attempt to make a weekly bottom towards a weekly P1.We have taken this trade on a long position upon entry on the 4H timeframe...
Today's focus: ASX200 Pattern – Support/ Regular Divergence Support – 6885 Resistance – 7000 - 7070 Thanks for checking out today’s update. Today, we have run over ASX200, breaking down the overall price picture, levels, and patterns and incorporating moving average and RSI into the analysis. Interest today starts from the support hold we are watching from...
We have been bearish on the market for a while and have seen a massive reversal on S&P to the downside. Despite what people may say, we will continue to sell the market instead of buying. We can now sell S&P for the following reasons. 1) Strong resistance at 4270 - 4280 2) Nice M15 Pattern. 3) We have the H4 MA and Daily MA pointing lower. Target is 4180
The US30 has been on a free fall for over a week now. As on the chart image, it is in a Downtrend Phase 1(DT P1) since it broke the structural level of 34284 on the daily timeframe. Its next level of further weakness is when it breaks the daily support level of 32583 as in the chart image. It will become a weekly DT P1 when it breaks the weekly support level of...
Nasdaq remains bearish on the 1D timeframe (RSI = 40.412, MACD = -138.180, ADX = 35.654) but it is on the HL trendline, the supporting trendline that emerged on the December 28th 2022 low. According to the 1D RSI, comparisons can be made with the September-October 2020 consolidation fractal around the 1D MA50, following the COVID recovery. After the 1D MA50 got...
My name is Philip, I am a German swing-trader with 4+ years of trading experience and I only trade stocks , crypto , options and indices 🖥️ I only focus on the higher timeframes because this allows me to massively capitalize on the major market swings and cycles without getting caught up in the short term noise. This is how you build real long term...
US30 has now recently made a lower high and is now in an extended market compression. For us to consider trailing our stop, it has to take out the first swing high at 35012 and then at 35098 as shown on chart image. Once it does take out both those levels, it has a higher probability to confirm the weekly bottom.Let's see how the trade plans out according to our...
Today's focus: US2000 Pattern – Descending Triangle Pattern Support – 1840 Resistance – 1870 Thanks for checking out today’s update. Today, we have run over US2000, breaking down the overall price picture, levels, and patterns and incorporating moving average and RSI into the analysis. The Russel isn’t a market I normally watch or trade, but the descending...