Completed bearish gartley pattern on S&P 500 index .
There is a high chance to see a bearish impulse from the current level.
Entry - 3000
Stop - 3042
T1 - 2958
T2 - 2920
hey traders,
after a very strong selloff SPY has retraced and currently, the market is approaching a key level of resistance on daily.
On 1H chart the market is consolidating and coiling within a narrow trading range.
If bears break below the range, for us it will be a perfect signal of a bearish continuation and...
Trade Idea
The rally has posted an exhaustion count on the weekly chart.
Broke the sequence of 6 negative daily performances.
The overnight rally has been sold into and there is scope for further bearish pressure going into this morning.
A break of bespoke support at 2799, and the move lower is already underway.
The bias remains mildly bullish but there is scope...
OANDA:SPX500USD
OANDA:SPX500USD
US500 - Intraday - We look to Sell at 2996 (stop at 3011)
The rally has posted an exhaustion count on the weekly chart. Trades at the lowest level in 15 days. An overnight positive theme in Equities has led to a higher open this morning. The 261.8% Fibonacci extension is located at 5953 from 3026 to 2998. Expect trading to remain...
OANDA:SPX500USD
US500 - Intraday - We look to Sell at 3020 (stop at 3030)
Our profit targets will be 2910 and 2900
Resistance: 3022 / 3040 / 3050
Support: 2970 / 2910 / 2900
Weekly – Close to an exhaustion count (trend line resistance at 3032)
Daily chart – Overbought
Intraday chart – Ending wedge. 261.8% lines up with the trend of
higher highs. A break...
FX:SPX500
OANDA:SPX500USD
US500 - Intraday - We look to Buy at 2954 (stop at 2944)
Previous resistance at 2959 now becomes support. Bespoke support is located at 2954. The 161.8% Fibonacci extension is located at 2946 from 3000 to 2967. The previous swing low is located at 2951. Preferred trade is to buy on dips.
Our profit targets will be 2979 and...
SP500 has rejected the resistance once again.
Could be looking to see Yen pairs strenthen in the up coming week.
Will be watching closely for the weekly closure to confirm my shorts.
Had a small position which was entered on the 4 hour chart. Will update as we go ahead.
Confluence of resistance here:
Median line in pitchfork
50% retrace of december decline
38.2% retrace of longer term october-december decline
Previous pivots in price(19th dec, 10th dec
Stop just 2600 which was another strong pivot area, target ~2487 which would be 38.2% retrace and pivot back in 2017
Technical:
If you are looking too closely at the markets, then you will have a myopic view of the markets.
It is still clear that the S&P 500 is moving sideways.
I have wondered how the market would get to the trendline, and the way it gets there always takes me by surprise.
Looks ominous but: Sideways to Oversold Market
Fundamental:
Nothing has...
There are two Bearish Engulfing formations being tested by the current candles. One on the 240 world and the other on the 60 world. If the tests fails, leaving the formations intact and the marked levels of previous support now turned resistance hold their footing, then the marked trade may well turn out to be a good...
Hello Traders.... here is another trade that is about to complete setting up. The SP500 is in a bullish trend. Do not attempt to sell this market unless you know what you are doing. Price is finding support the Fib 38.2 as shown on the chart. Note how for two times they have revisited this Fib level, giving you a Double...
The red line is the federal reserve balance sheet, total assets. Most of the rallies since the January high have been during weeks where the fed has temporarily stopped shrinking its balance sheet. Another shrink was disclosed late on 26 June. The fact that the sell off occurred after the disclosure, rather than the shrink itself suggests investors are trading the...
Sell Level We look to Sell at 2740
TP: 2600
SL: 2800
Technical Analysis:
A 5 wave bullish count has been completed at 2880
Price action has posted a bearish Hanging Man and is negative for short-term sentiment
Trades with a bearish descending triangle formation
A bullish reverse Head and Shoulders has formed
The reaction higher is positive, however, we view...
The setup here is very clear to me.. We're running out of fuel and the PRO SINEWAVE will soon plot the EXIT cycle that will terminate this bullish breakout pattern...
Once terminated the market will switch back to range / retracement mode. After such a rally (+30% with no breathing of more than 3%) we can easily expect the prices to retrace at least to...
Standard & Poor’s 500 is an American stock market index consisting of 500 large companies having common stock listed on the NYSE or NASDAQ and their market capitalizations. It captures approximately 80% coverage of available market capitalization. Because it includes both growth stocks and value stocks it is one of the most followed equity indices and is considered to be one of the best representations of the U.S. stock market and a trend indicator for the U.S. economy. S&P introduced its first index in 1923 and its present day form on March 4,1957. It was developed and continues to maintained by S&P Dow Jones Indices, a joint venture majority owned by McGraw Hill Financial.
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