If we break through that support level, we'll probably head down to 28.5 or even lower.
And the retail sentiment is also in line with this scenario.
At the moment, most are long, and short positions are starting to shrink (check out the chart).
Guys, who else sees the same level of support as us? And why? Let's discuss it
Price has recently broken out of the (D) descending channel. It then pushed up to meet the (D) 50% Fib retracement level and proceeded to the downside to retest support. The price has now broken out of the (4H) downtrend line. I anticipate the price will retest and reject this level of support, and temporarily continue to the upside.
**Rationale:**
L1:
~ Break...
Price has recently rejected this level multiple times. As-well-as multiple rejections and long-wick candlesticks, we have a rounding top chart pattern. I anticipate price will continue to reject this level and eventually breakout of the uptrend line, suggesting a bearish bias.
**Rationale:**
~ Area of resistance
~ Multiple rejections
~ Long-wick candlesticks
~...
Daily Target met post NY open and Crude oil news.
Drop mic.
Just imagine you had the skill or someone to guide you where price is going?
You have the model... you just need direction.. we all struggle at one point on the bias esp intra day which needs a trader to be dynamic in his/her thoughts even when price is going against them intra day.
Daily/Weekly are...
EU got supported from a monthly BPR and DXY got rejected from a BPR.
Low resistance liquidity on the daily where price will likely draw to. Bullish montly bias untill proven otherwise!
After rallying to the 50% of the FVG last friday thanks to the NFP, I believe the break of structure on the Daily chart is confirmed. So we're going lower, first at the FVG around 1.085 then maybe the Order Block at 1.08.
Merry Christmas to all, I hope you and yours are well.
My present to you this year is the one chart you should ALL be watching. SPX/GOLD
Risk On (Equities), Risk Off (Gold). It will save you a TON of time/headaches, if you follow this chart.
In this video I go over why you should use it. How your portfolio would have been managed the last 50yr, and at the end...
The 1H SIBI OB Mean Threshold did not hold the price below it. First Buy Side Delivery was during the London Kill Zone.
Watch the 15min BISI OB as Support or Sniper Entry...otherwise first touch 15min SIBI FVG is good as long as the Stop is not bigger than 30 pips...and the reward gets the target more than 1:2 RR ...in this case Kong went in to the Buy Side...
The King, Dollar Index, is in a Weekly BuySide SellSide Imbalance, BISI. Is this the end of a RISK OFF Spell for Risk Assets and a possible uptake for Dollar.
10 Year US Yields, US10Y, has led the way into its own Weekly BISI. Currency follows the Rates...so I would be highly cautions this RISK OFF FRIDAY
Afterall, the Rates are not yet cut, the indication of...
Did not use any of indicators or any. Just wanted to know your thoughts on my longterm thinking about GU.
If I am counting DXY weakening (FED possible decrease of Interest rates, now or later.. even if they leave them on same levels, USD loosing on value) plus England getting better on longterm.
We can see possible rise in upcoming months and years. Let me know...
We are in a range where it seems as a creation of a SwingH, also in the left there is s previous take of liquidity which could be a StopH, so this week probably we could see a bearish move that creates -1- a retracement into the fvg to continue its move towards the upside, or -2- a break in MS that creates a -BB
This second scenario is what im expecting, so let's...
IDEA
Every decade has a trend. One decade is an impulse the the next is retracement.
EXPLANATION
It first takes liquidity at the beginning of the decade(old high or low).
Then impulses until around the 5th year.
The 5th year typically retraces, then continues impulsing from 6th to 10th year.
Summary:
0-1: Liquidity run
1-4: Impulse
4-6: Retracement
6-10: Impulse
Bias: Flat open on both indices, support below and above so going in with a pretty neutral bias. leaning towards the bullish side.
Top Watches: Long - TECK, BAC, BTU. Short - RBLX, GOOGL, STT.
Tune in to my stream at 9:25 EST for my full list of top stock watches and to watch me trade them Live!
Follow @JLaing for a timely morning bias of the market like this,...
Bias: SPY looks good to go higher if it holds the 412 area. QQQ looking more like an inside day with room to move in either direction
Top Watches: Long - TECK, WFC, BAC, JPM. Short - BA, CTLT.
Tune in to my stream at 9:25 EST for my full list of top stock watches and to watch me trade them Live!
Follow @JLaing for a timely morning bias of the market like this,...
Bias: SPY and QQQ gapping into yesterday’s red bar, could be an inside day. Leaning bearish, room to drop under LoD on both indices.
Top Watches: Long - MRK, DAL, NEM. Short - CTLT, SRPT, FAST.
Tune in to my stream at 9:25 EST for my full list of top stock watches and to watch me trade them Live!
Follow @JLaing for a timely morning bias of the market like this,...
Bias: SPY gapping over resistance into a void, boosted on positive CPI data. QQQ less bullish with some junk before the void. Will be patient to see if CPI numbers hold up market or if it was just a pop and drop.
Top Watches: Long - MU, PLTR, AFRM, INMD, RBLX. Short - AAL.
Tune in to my stream at 9:25 EST for my full list of top stock watches and to watch me...
Bias: SPY slightly gapping into a void up to 412, should be bullish up to that point. QQQ not as bullish at the moment but a much better void over resistance at 321
Top Watches: Long - MARA, AMC, RIOT. Short - FRO, ADTN, SNOW.
Tune in to my stream at 9:25 EST for my full list of top stock watches and to watch me trade them Live!
Follow @JLaing for a timely...
