I have a solution. Use the moving average 50 period low.
Check the 4h chart on US30.
Insert a 50 period moving average low.
Insert support and resistance lines.
You will notice a couple of things, at the end of the last equity rally, it was profitable to short the market EVERY TIME once the price CLOSED below the 50MA. In other words you couldn't go wrong...
S&P 500 CME_MINI:ES1! has produced a buy signal after the false break down and subsequent reversal higher.
Daily chart shows inside bar false break ( fakey pattern ). Potential buying opportunity on pull back 1900-1915 support area, with initial upside targets to 1940-50 and 1960-80.
This trade would be a perfect options trade (not binary) price can reach 2400 level. Looks like the 5th impulse wave is in play with price breaching and retesting the downward trend line at 61.8%. If price does reach 2400 we can then expect a corrective wave structure to downside of 1500. However, this would be re analysed. If price breaks below 1800 we can see...
OK...look at the charts and learn how selloffs work. We were looking for a pullback Friday and never got one. This market is weak and it is inflicting it's pain on people. The $NQ blew through support and is selling off again in the Globex session. We are watching the support area below for a trigger. The trade long will be for a bounce. The path of least...
Our first target being 2080.0, we then can expect a retracement to the trend line then a continuation to our second target of 2070.0. However, careful once target 1 has been met. If price breaks above the trend line then our targets are no longer valid.
Price currently sitting at support 20400, if price breaches above the bearish trendline then it can retrace up to 20500 then decline to our first target of 20400 then 20300. However, if price breaks below 20400 and the candle closes below this level then this would be our confirmation to the downside off 20300.
