vincent1123451

vincent1123451

market is in a support zone. The major trend is up , short term bearish , if we get a significant retrace back to 0.8400 or above , the shorts will have to cover leading to a sharp move up.

vincent1123451

The long term picture for the cable pair is Bullish, Medium term There has been a failure to make a new high. Short term the picture is very much bearish. This pair is moving into a support area so I would be careful of shorts and looking for some validation to go long.

vincent1123451

This is the corresponding QQQ chart

vincent1123451

The QQQ has made lower lows on the 15 minute , whilst Tesla has been holding up and making a higher low. If the Nasdaq starts to retrace higher Tesla may move higher more quickly as it appears to be strong.. Short term trade , scalp. The index needs to move higher first. Not much time to the close , so conservative targets.