Bulls may try to keep it float, but it will be hard to hold

FX:SPX500   S&P 500 index of US listed shares
375 12 7
- as I said few days ago, I doubt there is much more juice to squeeze here. -> pls             see link below
- Price reached top of wide channel, even penetrated for few days, but finally did not make a higher high above November/2015 peak.
- Heikin-Ashi gave a warning signal in last two days for a possible top. haDelta has built massive negatove divergence
- EWO             also built massive negative divergence.
- Ichimoku setup is still bullish , but Kijun moved up quite close to price. In case Price closes below Kijun, that will trigger more stop selling.
- Supports higher now: 2000 / 2065 / 2080

- Serious deterioration here: weak bearish Tenkan/Kijun cross. Price trades below Kijun Sen. Thick Kumo shades price ahead.
- EWO             down to neutral/bearish
- Heikin-Ashi signal is bearish
- Price just reached first key support ard             2080. A break below 2080 will accelerate selling, and below 2070 more stops would be triggered.

Of course Bulls will stick to their positions as usual, they will deny, try everything to keep it above short term supports. Probably lower they will even buy more! But you see there is some serious internal divergence in this market, while Nasdaq, the previous leader already turned counter bearish!

I am 1 unit short. Will add more if I see a sustained break below 2080.
So let me ask you, what is the direction now??? Has it become obvious????
1h daytrade with rubbish 1:1 risk/reward... OMG! :-D
still a buy setup! Just a deeper pull back!
Kumowizard PRO Zohaib_Malik
Then you buy. I start to build shorts. That's why market works. There is always a buyer and a seller :-)
Zohaib_Malik Kumowizard
Good luck for your shorts :)
Kumowizard PRO Zohaib_Malik
I am not a 60 mins CFD trader. I have no intention to hunt for pips. I do not really look at it during the day. I have lot better things to do, then getting excited on 0,5-1 % moves.

Honestly, my risk taking is likely a lot more different from yours. The size (including options) I have on is still a statistical mistake in my book. You can jump in and out on your hourly chart, but when a big move comes down, believe me I will make money in size... If it goes up, I take a tiny loss which makes me laugh.

However I'd really love to see you making money on your longs, as that means my sell setup will come in at a lot higher level later, so the upside of my shorts then wil be a lot bigger. :-) So let me correct your bit sarcastic comment: good luck for your longs, to make me bigger luck on my shorts when they are really built up!
Zohaib_Malik Kumowizard
I m just talking about the direction not the pips!
Kumowizard PRO Zohaib_Malik
I still don't see direction. Up 10 points down 10 points... neutral range. Of course lower you go on time frames bigger the candles may look like ;-). but I never check anything below 4H.
Zohaib_Malik Kumowizard
It came back for a correction. Now it will be up towards the target :) I m a buyer till it breaks the 100%. My stop loss is at 100% It does't matter which timeframe u r trading, the matter is which strategy u use to trade! Have a nice day!
problem is , this is pretty obvious- And you know, market does not like obvious things
And as mkt always tries to spoof us, who knows... Maybe this time the obvious will become true :-)
English (UK)
English (IN)
Bahasa Indonesia
Bahasa Melayu
Tiếng Việt
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out