- on the weekly we are bullish due to market breaking out of major resistance earlier this year around jan 23rd
- and then the market went on to form a new higher low point around the previous lower high point which was broken
- now we are currently at the high high point and market showed signs of respecting that level during the last week but has held it's...
my top down analysis goes like this...
- market broke out the 1829 level of support on the daily support
- yesterdays daily candle retested (broke in and broke out) to respect that level of structure which is our new resistance
- currently on the H4 market is still respecting structure and is showing signs of a bearish move with the long wicks
- just took a trade...
too late with publishing this trade i took on nas100 but my reasons were as follows
- a double top formed last week at a significant resistance level
- market then broke the neckline of that double top
- waited for a retest of that neckline which occured at the london open and the new york open
- waited for a formation of a lower high on the M5 after the...
hope all you guys are doing fantastic here's my analysis for the s&p 500
- market made a higher high at around 4190
- then went on to make lower highs while breaking higher lows
- initial entry could have been taken last week thursday, but market showed signs of continuation and at the london open it retested the support level where my entry was taken
- take...
nasdaq has been in an uptrend for just over a month now so the chances of it continuing with this trend are highly likely and as seen by my analysis...
1. on the daily it broke above the downward trendline
2. market retested both the trendline and broken resistance on friday
3. entries can be taken if prices comes back down to the support level or if it breaks...
here we go!
the reasons behind my bearish bias are as follows:
1. on monday we tested a key market level which is our current resistance level and closed bearish with bearish momentum as seen by the wick on top of the candlestick
2. market came and tested the downward trendline and closed below the trendline
3. on lower timeframes a head and shoulder pattern...
so...
1. on the daily we closed respecting the major level of support which is now our resistance
2. the third touch of the downward trendline was a bearish engulfing on the H1
3. market is making a series of lower lows ad lower highs
4. entry was at the breakout of the counter trendline and sitting at a 1:4 risk reward
5. market could close above the counter...
