At the start of last week, things didn’t look great for the bulls. There were several signs of weakness that could have easily led to a daily trend reversal. However, that didn’t materialize. Firstly, on Monday, buyers were able to set a daily higher low. Then, on Wednesday, they positioned the price very close to the previous two weeks' high. Finally, with the...
Last week began with a display of strong conviction from buyers, propelling price upwards towards the previous high (516.5). They managed to surpass it by a small margin, establishing a new historical high at 517.1. Unfortunately, bulls were unable to sustain momentum and build a new value zone, allowing bears to regain control and push price back towards the...
US markets were closed for the 4th July holiday which saw muted trading across the European session. The RBA held off on another rate rise much to the relief of Australians who are feeling the squeeze. The RBA notes that a lot of the inflation can be attributed to corporate profit margins increasing so may be a reason why they are holding off on rates (as raising...
Overall Trend on 4 Hour chart= Bearish(Price is below the 200 EMA)
Overall momentum= Bearish
Wait for a retest of 1.23540 or 1.23687 price level before going short!!!
Major indexes in the US and Europe come under fire on concerns for a global economic slowdown and the US debt ceiling fiasco. Traders went risk off as retail sales pointed to a slowdown in consumer spending while uncertainty over interest rates also weighed on sentiment. I expect that the same theme will weigh on the share markets today and into the coming...
Despite recession forecasts and the FED's cautious stance, the markets have risen since the beginning of the year. Many analysts argue that the market is not rational, that all statistical indicators point to a bear market, and that a difficult series of declines and disappointments lies ahead
The market participants are now divided into two teams:
1. The bull...
US stocks closed sharply higher on Friday, lifting indices enough to book strong weekly gains after a bath of economic data drove investors to ease expectations of aggressive monetary tightening by the Federal Reserve.
Markets ended on a high note today. The Dow Jones added 700 points and the S&P 500 gained 2.3%, both notching gains of 1.4% on the first week...
Overall market has been consolidating for a few weeks now. Price movement is stagnant and no signs of major activity are seen. I foresee the market like this a while due to summer season as investors and traders are on vacation. There are still trades available but you will have to go to another session to spot these trades out.
Markets overall have been in a range market with a high degree of volatility. Pay attention to your risk reward targets and tighten up the target profits. You are may not see those target getting hit in this slow market activity. Take the bunt hits and walk away. Be patient and look for the hanging fruit trades. Good luck and remember to stay patient.
Morning Jumpstart Macro View and US market recap 1-02-22
The US had a late session burst higher that dragged the major Indexes into green territory ahead of key US employment data Friday. The USD continues to grind lower while Gold was range bound. Copper had a strong session while Oil continues to hold recent gains setting for another push higher.
For a deeper...
Hello Traders
Hope Sunday and the much needed rest is treating you all well.
I spend parts of my Sunday looking back at the prior trading week. In doing so I've decided to share some ideas on completed trades and the methods I trade our script.
Going forward during the week I'll look to post more live ideas as our script present them on the charts. At...
Hi Traders! Before the market close this week, we can see strong bullish bias on the price action. But that's a good news for sell opportunity due to price already touched QML level and we have a fakeout signal which we can expect the price will slightly bearish next week. However, if the price break 1.26441, might be it will break our resistance level previous...
