ALSI formed a bearish shooting star doji on daily right on a resistance level. The bottom of this well defined channel is a likely target in coming days.
Trade set up: Our bias leans towards a short in the SPX, where we are looking for a break below the recent low of 2685 to enter the position. Upon this development, we would set a stop loss at 2725 and our take profit set at 2603. This profit target is subject to change and dependent on the price action, as a break of 2603 would hold huge bearish implications....
Hello and hope you all had a fantastic weekend? Getting ready for the new week?
DOW JONES, S&P 500 and NASDAQ 100 INDICIES
Lots of volatility last week, we had a lot of selling early last week and the selling day on Wednesday causing the rally on Thursday while on Friday we referred to as the end of the bearish move though no guarantees but we have reached our...
It was a very exciting trading week ended on Friday 04th October 2018, it just goes to show that what goes up must definitely come down.
Based on the last 2 trading sessions, the question we should be asking now is how far down will the markets be going? What does this new week bring? Some weeks it is difficult to technically forecast the market movement and I...
In my previous DAX call I recommended a buy till 12400. It has passed that level convincingly and might even look to go towards 12500/680. However I do expect a fall from those levels back towards 12200/140. but for now I will stay on the sideline and watch what it does.
Fundamentally, it looks like the overall market sentiment shifted and the risk-on scenario is back with the US indices set to retest the all time highs. Technically the asset is in a strong uptrend as well despite the overbought RSI readings on the higher time frames.
The trade idea is to trade the bullish flag pattern on the break out. For additional...
Pay attention traders, the US equities market and the US Indicies are setting up for a much deeper correction than many people are expecting. A few weeks ago I warned that a 2.5~3% correction was setting up in the markets. The markets immediately turned lower and fell about 2.25% before bottoming out. Today, my custom indicators are warning that we could be...
In this video I cover a short straddle trade in QQQ that has a slight bullish bias to profit from both a price pop as well as the high implied volatility in this underlying.
**Current Market Structure**
-Medium/Long term bullish trend
-Price is reaching some key support areas at 175, 171, 170
-Bearish weekly candle may see prices push lower but I...
There is no real clear price action direction, this chart has even room to run in both directions, and the 'IVR is high which makes it a good candidate for a short premium trade. I am selling a straddle as I can collect 10% of the underlying in premium in just 46 days.
Overnight the NASDAQ futures formed an inverse head and shoulders pattern following Trumps tariff threats. This pattern is showing that buying has quickly entered back into the market and we may see a large short squeeze with a quick pop in price. The price target based on the pattern and overhead resistance is around 7430. As with all patterns nothing is...
The FTSE 100 is shaping up nicely on the 4h chart, I'm expecting this bullish 5-0 formation to complete within the next few weeks at the 50% retracement level.
The measurements for a valid 5-0 pattern are detailed below.
B: 1.13 - 1.618
C: 1.618 - 2.24
D: 0.50
We will be trading with a stop loss below the 0.618 retracement level at 7240. If we execute the...
