Perfect uptrend since May. Multiple tests over the past few months. 7 to be exact.
Here we are now again. The last session left us with a Doji candlestick pattern just under MA50.
This Sunday, Republican and Democratic party leaders announced that a deal had been reached for a new stimulus check. There are enough votes for a majority approval this Monday on...
Trade Idea
Broken out of the channel formation to the downside.
Bespoke resistance is located at 7872.
We have a 50% Fibonacci pullback level of 7878 from 7776 to 7980.
We look for a re-test of the upward trending resistance.
Expect trading to remain mixed and volatile.
We look to Sell at 7870
Stop: 7910
Target 1: 7760
Target 2: 7636
Trade Idea
Continued upward momentum from 7497.6 resulted in the pair posting net daily gains yesterday.
Positive overnight flows lead to an expectation of a firm open this morning.
The medium term bias is neutral.
Intraday signals are mixed.
Short term bias is mildly bullish.
Preferred trade is to buy on dips.
Stop: 7485
Target 1: 7775
Target 2: 7850
Trade Idea
Broken out of the channel formation to the downside.
A mild correction has been posted from yesterday’s low, this is seen as a retest of the breakout level.
The bearish engulfing candle on the 4 hour chart is negative for sentiment.
Negative overnight flows lead to an expectation of a weaker open this morning.
Further downside is expected although we...
DAY TRADE - EXPIRES AT 9PM UK
Trade Idea
Broken out of the Head and Shoulders formation to the downside.
There is scope for mild buying at the open but gains should be limited.
We look for a re-test of the upward trending resistance.
Bespoke resistance is located at 7985.
Further downside is expected although we prefer to set shorts at our bespoke resistance...
Trade Idea
We have a Gap open at 7700 from 28/06 to 01/07.
The rally was sold and the dip bought resulting in mild net gains yesterday.
The overnight rally has been sold into and there is scope for further bearish pressure going into this morning.
Although the bulls are in control, the stalling positive momentum indicates a possible turnaround is possible.
This...
