After the huge drop in the beginning of the week, the market couldn't recover from the sudden shock it received, instead it kept consolidating forming a whipsaw closing the week with uncertainty.
We may see a waking up of the market by the start of the new week but since there is US presidential elections next week, things may go either great or worse.
The market continued to drop down from the beginning of this week making it one of several market that fell during week. We might see more dropping of the market due to France's foreign policy and its conflict with the Arab world specially since France monopolizes the biggest part in the Eurostoxx50 which negatively affected the rest of the participating countries...
📌 STOXX 50
The purpose of the operation here is a clean and simple 5-3-5 sequence to the downside which means the lows are still exposed to another flank attack from those accompanying bears.
This is a very important few weeks and months for volatility and in a roundabout way we must take...
📌 Eurostoxx 50 is in question here and we have a good illustration of the ABC outpost. The main target 3,489 is still open for a test but a breakdown here will seal it for the year.
In a nutshell, this is a chart speculating that we are in the very early days of the "C" leg down.
It is the same opening move in play for German Equities, DAX:
Trading Sep Futures with a Long bias based on the thesis:
US DJ, S&P rally seems to be peaking on its post-COVID rally.
ECO data out from the US generally seems strong as well.
Believe that international indices like NIFTY and STOXX will follow-suit.
Risk: Most of the rally has been done, hence watch for range trading from now till Sep.
Euro stocks index broke below a horizontal neckline of a h&s pattern.
we have a nice conjunction of a daily/4h candle close below confirming the violation.
now the price retesting the broken level.
I expect seeing a bearish continuation to
2656 (next minor support)
Well that was an eventful weekend. With less than 10 hours to go before the Bitcoin halving, the cryptocurrency markets are attempting a set up for a relief rally. In other news Federal Reserve Chairman Jerome Powell will speak on the current issues facing the U.S. economy later this Wednesday. Heading into this speech, it is difficult to bet against the market. I...
airbus is consolidating on a key structure support level.
the price is stuck on 50 level for more that one month!
on 4H we see a classic contraction with a formation of a descending triangle.
the side of the breakout of the triangle will show us the future direction of the stock.
because the trend is bearish,...
Wait for Eurostoxx50 break out from the triangle.
Above there is a good selling zone to trade around 3250 area, where we can short to 2900.
Beyond the triangle, we have to wait for the retest of the trendline and short to 2600
4H Chart Explanation:
- Price broke the Descending Trendline.
- Price is currently above the Support Zone, on a Bullish Corrective Structure.
- If it breaks it, potential to move up towards the Fibo Zones.
Updates coming soon!
EURO STOXX 50 INDEX is the "lighthouse" of all the other EU index.
It's a little bit too early to speak about Elliot Wave Pattern but:
if confirmed we wait for it to 2560 Area. So all the other index.
#DAX first of all.