The Euro is sitting at key a key resistance level which it has bounced off of many times since the beginning of summer. There are two things right now that will decide where the market goes. The first is if the greenback can hold at the support line it has bounced off before. A holding of this level would suggest that the market still has confidence in the dollar....
Dollar is king, and is approaching a very strong support long. It is likely it will bounce off support here especially since the FED hike isn't suspected to come for a few months.
Both the Dollar and the Euro are resting on orderblocks. The Dollar block is a strong support line that it has already bounced off in the past. The Euro bear block is the recent high from a few months ago and has bounced off it before.
It is impossible for the dollar to keep climbing even if it is king. Eventually the dollar index with change tides, and when this happens smart money will already be long gone. The fall to bull blocks will be drastic. This is a time when you will be wanting to keep a VERY close eye on USD cross pairs. I know I will be watching cable and fiber for any sign of a breakout.
I;m unsure of which way the market will move after the weekend so my advice would be to stay out or set orders with low r/r on either side. There is nothing on Monday news wise that should break any of the orderblocks so I expect them to hold. If next week hits the bullish block it will certainly be time to long fiber.
The rapid decline in price was caused by NY traders flushing out stops on long positions and filling their own orders. Price has bounced off this order block a few times so it could still hold stong.
NY is flushing out stops and getting orders in, potential pips to be had in a long position.
Market maker buy model? 50% fib level held Orderblock reclaimed
Infinera stock is at an excellent oversold level on the RSI. The stock has been in an uptrend (purple) going all the way back to October 2014. Revenue growth has been good over the last 4 years. In 2011, revenue was $405 million. In 2014, revenue grew to $668 million. The annual revenue growth rate for the last 5 years is an excellent +16.7%. Revenue growth has...
I will seek entry around 1.09-1.095 after this ascending pattern forms a bearish order block to further confirm the sell off. // Edit: 5/3/15 My harmonic was quite off in this chart. Live and learn. // Edit: 4/29/15 // Re-evaluation of position at each blue pivot point. I have no intention to purchase in the bottom green support zone but it is about as...
Bought a few shares of Ford for the watch list. Meh! ran out of cash to invest big, so sad. I watched this from $6 to 17.50 never believing their story of growth for 2030. Owning a 1998 yellow Ford Mustang GT 4.6L V8 with modded exhaust that you can hear a mile away with Lambo Doors and a Cobra 2000 body kit, all installed by myself in my parents garage made me...