Hi All,
*** This is another continuation post (v4) from the previous version, as per my posting methodology where I like to link the trading story where its applicable ***
Link supplied below:
MY THOUGHTS:
==========================================
Points of confluence:
Indicators:
======================
> show downward pressure still present, along the daily, to the weekly charts;
> on the daily chart, indicators show downward pressure. If we see the phoeix rsi cross over with a potentially a bullish candle, then it will slow down the downward pressure;
The next few days or week will give us a clue.
> macd approaching signal for either a bounce\rejection which is likely to be at this 0.382 fib level as per chart or cross over for more downward momentum;
Price action:
======================
On the Daily chart, we have the 21 & 50 EMA merging at the neckline of the inverse head and shoulder formation, along with the 0.5 fib retracement, making it a definite case for bulls to jump in.
> I expect this level to have strong support, bulls jumping in.
As discussed in previous posts, scenario 1 has completed. Now if the orange support area doesn't hold or this neck line, then we will have scenario 2 with a deeper correction;
Charts to watch\signals
======================
As they have correlations > DXY (US dollar), Volatility\Uncertainty index, VIX, US Treasury Bonds,
Please give me a like or tick for this post.
Regards,
S.SAri
VIX S&P
TLT bonds
Daily chart
Weekly perspective
PREVIOUS POST
=============================
*** This is another continuation post (v4) from the previous version, as per my posting methodology where I like to link the trading story where its applicable ***
Link supplied below:
MY THOUGHTS:
==========================================
Points of confluence:
Indicators:
======================
> show downward pressure still present, along the daily, to the weekly charts;
> on the daily chart, indicators show downward pressure. If we see the phoeix rsi cross over with a potentially a bullish candle, then it will slow down the downward pressure;
The next few days or week will give us a clue.
> macd approaching signal for either a bounce\rejection which is likely to be at this 0.382 fib level as per chart or cross over for more downward momentum;
Price action:
======================
On the Daily chart, we have the 21 & 50 EMA merging at the neckline of the inverse head and shoulder formation, along with the 0.5 fib retracement, making it a definite case for bulls to jump in.
> I expect this level to have strong support, bulls jumping in.
As discussed in previous posts, scenario 1 has completed. Now if the orange support area doesn't hold or this neck line, then we will have scenario 2 with a deeper correction;
Charts to watch\signals
======================
As they have correlations > DXY (US dollar), Volatility\Uncertainty index, VIX, US Treasury Bonds,
Please give me a like or tick for this post.
Regards,
S.SAri
VIX S&P
TLT bonds
Daily chart
Weekly perspective
PREVIOUS POST
=============================
Comment:
12 hrly chart, small bullish div. Daily has sideways pressure
Comment:
Neckline touched and created a wick on the daily. 2 touches on the daily should confirm support level. Downward pressure on the daily is leveling off which could indicate support and reversal...we need to see the next few days.
Comment:
Comment:
Comment:
As it seems, scenario 2, with a deeper correction
Discord: TradeToProspa
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This community has signals now but with no risk management comms.
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
