Fri 23 Oct we had a down move, supported and a rally to close the day. However price is overextended and according to price action, we should see another pullback. Below 1.1836 go short, target 1.18080-14. 1.1780 will act as strong support, thus I expect a strong bounce from there. If support breaks, 1.1758 should offer low risk buy level. Above 1.1850 can be a...
Price still ranging, in balance. 3 things which could affect the next move in SPX are the earning announcement, elections news, stimulus talk. On a broader picture, as per my tweet last week, I am seeing a set up for a bigger correction coming before end of year. Anyway for 26 Oct, look for longs only above 3460, targeting 3474, 3487. 3504 should cap high of...
Based on yesterday's daily candle close with rejection off new lows, price action looks bullish. Bias will be long above 5791, targeting 5822, 5839.4, 5858 and 5879. 5896 if hit will present low risk short level. Below 5778, bias will be to the downside, targeting 5744 and yesterday's low near 5722. 5682 should present low risk buy level.
EURUSD - bullish on monthly and weekly but bearish on daily timeframe We have pullback yesterday and price is coming down as I type this. We might find a support today but till then bias is down. Monitor 1.1830-38 for a possible pullback and rejection down, targeting 1.1798, 1.1780, 1.1766. 1.1742 should cap low of day, presenting low risk buy level. I will...
NASDAQ still in consolidation. Stimulus news still in play and that will move the market. Personally I think the lows are not in yet. Price at the lower end of range, but need a clear break. I am short bias below 11698, targeting 11590, 11504, 11410. In the event 11370 trade, I see it as low risk buy level. Above 11710, look for longs, targeting 11796, 11892....
Price rallied yesterday but hit strong resistance. Expecting a pullback for today. You can either trade the pullback or wait for pullback to go long. I will look for longs above 1.3148, targeting 1.3176, 1.3232. 1.3324 will be strong resistance but if 1.3376 trades today, I will sell it with low risk. Below 1.3130, trading the pullback to short to 1.3054 as 1st...
Yesterday's upmove signal possible continuation. But price action looks overstretched, thus I would expect at least a pullback, support before any further up move. Above 1.1780 I will be long bias. Gd to wait for price to pullback to enter. Upper targets/resistance are 1.1854, 1.188. In the unlikely event of strong up move 1.1936 will cap high of day. Low risk...
Price is ranging with no clear direction. According to my system, price is in an uptrend on a monthly TF, but down on a weekly and daily timeframe. Market is probably waiting for outcome of the stimulus talk to decide the direction. I have identified the levels to trade on. Above 3446.8 bias is to the upside, targeting 3467.4 (rejected by this level...
Pullback is complete yesterday. Expect further upmove. My posting came slightly late, price has already moved from my buy zone. Expect 1.3202 and 1.3220 to target. Trail stops after, with 1.3244 to cap high of day.
Based on price action, lots of resistance for silver. Thus my system points me to going short for today, though not discounting that we might see buyers at lower price levels. Price now at 24.22. Price could sell from here or pullback to 24.41 zone which offers better R:R for shorting. Expect 24.68 to cap high of day - low risk sell level. Lower targets are...
Trend is down on daily, weekly and monthly. Based on yesterday's price action, expect further down. Wait for 0.6610-18 for good level to go short, with stop above, or build up shorts leading to this level, target 0.6560, 0.6524. 0.65 should cap low of day. I will not go long on this, but if you do, 0.6638-44 should cap high of day.
Yesterday, SPX hit my support level and rebounded 40-50points. However my system says that the down move might be short lived. Current rejection off 3487 gives possible further down move, targeting 3476, 3452. If 3452 (yesterday's support) breaks, expect 3420. I will wrong above 3492. Above R will be 3506 and 3528, which should cap high of day.
Based on yesterday's close, bias is down for today. I will look for shorts below 1.2930, target 1.2852, 1.2800. 1.2762 should cap low of day. If 1.2712 hits, it is a safe to just go long. Above 1.294, I will look for longs target 1.2978, 1.3024. 1.3080 should cap high of day.
Another repost as original post was hidden. ------------------------------------------------------------------------------------------------------------------------------------ This post is just for records. I have shared it with my followers as a gift on twitter. Short below 1.1738 with almost 0 drawdown. 1st target 1.1720 hit within an hour, and down to 1.1705,...
Just re-posting this as my original post 12 hours back is hidden for including my Twitter handle! oops I trade by identifying spot on daily turning point levels everyday for many instruments, including #SPX. Set price levels near these levels and trade when opportunity comes. New to #tradingview. Will be providing my intraday levels for some of the instruments...