cnetrades

cnetrades

After a very bullish push during one of the most fundamentally news related market weeks last week... I am expecting a correction bearish movement at our last swing point/key level of 33,280. As far as technical analysis and market structure... as long as we stay below this LH and get a clean rejection, we will indeed still be in a bearish market long term....

cnetrades

Today is July 4th and we have seen a slight bullish pull even though low volatility was expected due to the holiday. I am keeping a close eye on the 31400 level on the weekly and daily timeframe. We touched this level twice as support and once as resistance. The most previous time we have touched this level was an established LH in the downtrend channel. Since we...

cnetrades

US30 has rejected our previous LH @30785 along with a doji candlestick formation on the daily timeframe giving us a confirmation for bearish momentum looking to continue our downtrend. Couple key things to look out for... A previous rejection of the bottom of our bearish channel may indicate one of two things... A bullish move with enough momentum to break...

cnetrades Updated 

US30 is currently the bottom of our downtrend channeL, at a key level of interest, and testing the HL of 30860 area on the H4 time frame. My bias is that we break and close above to start a bullish trend towards the top of the channel. If we receive bearish rejection along with a close below our level we will likely continue our bearish pressure to the 30400 area...

cnetrades

Nas100 weekly candle closed as a bullish engulfing with a strong rejection of 11500. Scaling in to the H4 TF we have nearly 7 touches at our key level of interest. Holding this support strong around 12500 will give us the confidence to go long to continue to bullish trend established by the breakout of the downtrend line. Otherwise, we await the breakthrough to...

cnetrades

US30 is currently sitting at our weekly support zone. Integrity of this level will give us full confidence to go long this week. If we break below on HTF, this will give us opportunities to await the break and retest to join the downtrend market. Scaling in to the H4 TF, we have 5 aggressive touches at the 32650 level. Holding this support will give us extra...