With over 60pips in our direction since my last publication on this pair (see link below for reference purposes), I am expecting that the retracement phase will push into a 50, 61.8 or 78.6% retracement before the trend continuation begins. So, if you are not in the bearish train you still have a minimum of 150pips to catch before the buyers find a good price! ...
- This is the messiest chart I have drawn. Thanks to me :) - Looks like Nifty is bouncing from the 30 minute demand zone - If nifty bhai has to go up in coming days, he must respect 61 % Fib level and break the trend line - Another interesting thing is the way how price made the correction moves - The price moved 135 points down then moves up 64 points again...
This is to go off my 1 Day chart. Bounced off the 760 range and ran up and now looking like will bounce off those red lines and continue to correct back to mid 600s. Should be good to go by March! Tesla long term is still Bullish! Short term is Deffinitely Bearish. Good luck. Load some puts and ride some short calls on the bounce off supports.
So this one is purely technical and simple as it gets. We are looking at Splunk stock - if you are not familiar with it its a data analyzing software company , machine data platform mainly... but we don’t really care about fundamentals on this one -this is a pure technical move. Stock had bad earning released last week and fell from its highest high at 225 all...
AUDUSD is breaking out of ascending wedge, which might indicate a correction move downside and a risk-on scenario. Aussie is currently trading around 17% higher since march lows and pretty much correlated with bullish sentiment in equity market. The first support level can be found around 0.6250-06270 price, which is between 0.23-0.382 Fibonacci retracement...
The market is still under pressure due to coronavirus and recent drop in oil prices, so risk-off instruments are strengthening. It's better to keep in mind, that the bias in USDJPY is pretty bearish, however entering the market from 104.69 with S/L below 103.64 and T/P around 107.74 provides decent R:R and opportunity to ride a correction move. // Feel free to...
Today's 400pt lift in Dow was unconfirmed by volume which declined as price rose. VOLUME DIVERGENCE violates basic Dow Theory: The session volume in each day's trading reveals nearly all the session volume was traded before the thin air lift at the end of day. A move against trend must be confirmed by increasing volume to be a true trend change, else it is...