There is a potential reversal occurring on this timeframe. The S&P500 has re-tested the lows of the range and had a nice bounce, implying risk may be on today.
We have just broken above 15m resistance and the 50EMA and then pulled back into that resistance zone and giving me a valid long setup.
The DXY is really struggling to climb higher, meaning the dollar...
A nice day-trade setup here that meets my rules. Bearish 15m trend, break below 15m structure, below 50EMA, bearish engulfing after a pullback.
Also below a key Daily level (that may act as support and stop me out), but above a more major Daily level at 1.315.
The bounce above 1.32 has me nervous that we are about to see a reversal, but because of the room to...
Market sell off on Friday due to Jobs numbers beat the expectation. Which is going according to FED plan.
Next week on Wednesday CPI data will be release which will be main report for market.
Key levels are same for SPY as I mentioned in last update.
Watch the Premarket high and low for resistance and support.
In last session market was very choppy in start, be patience and wait for the right set up.
Future is green right now market might gap up
Watch these key area
Support - 314.35,312.46
Resistance - 314.50,318.39,321.10
Previous day trading session was very choppy in start. Need to be patience for right set up.
Future is Green market might start with gap up.
Watch the key resistance level - 413.16,416.616
Key support levels - 407.60.
SPY ETF has much better price action and set up for day trade if we compare with QQQ ETF
Market rallied on Wednesday due to Earning / FED meeting was positive
(No change in interest rate)
Watch out these key levels of SPY.
Support -403.13,396.40,391.63 ( Good scalping area)
Big companies are reporting earning hence market will be volatile
We are almost at the Fed rate decision, which is widely expected to see a rate hike that will bolster the strength of the dollar.
EURUSD is completing an ABCDE corrective climb within an established channel, and this looks likely to complete just before FED rate decision.
We can use this for two trades!
The first is a scalp buy up to the larger time...
As of right now the 5 up off the dump looks bearish in nature.
Likely an A wave on the daily as part of a zig zag ABC correction and we are now finished with wave B.
The C wave can extend past the recent highs and the bulls can flip the 5 up in a HTF wave 1,2 and start a 3 wave off the recent lows.
But gun to my head that's not likely anytime soon.
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looks like last bullish move after the fed-protocoll (Seriously... so bearish )... looks very suspicious especially in the market-depth showing absoprtion in form of a lot of iceberg-orders at the resistance.
I will give it a shot and go short from here on.
What do you think?