In my trading view, it's a bit dangerous if trading at this level. The Index is nearing Old High, but that is still on Lower Channel Line.
I have 2 scenerios:
1. The Old High can be a strong Resistant Level and makes a correction. However, placing a Short is a danger in the short-term uptrend until seeing a clear reversal signal.
2. The Index is on the Lower...
Hello Ladies and Gentlemen
I want to present you my newest idea for the upcomming movement at GER30 Index.
The first wave started with an Island GAP which got closed fastly. This Island GAP sent me the first bullish signal. After a long first wave (625 points) the market recovered to the 50% Fibo almost perfectly. This area is the same level where we had the...
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The S&P 500 Index has been a bit hard to read for beginners as the charts are giving bearish signals yet it continued to move up and break above certain strong resistance levels. As for The Dow Jones Industrial Average Index (DJI), this one is telling us a different story, this chart is much easier to read.
When you look at the chart, you can clearly see lower...
So I was expecting a pattern here and we have a perfect Impulse and a corrective structure which seems like a ZIgZag ABC.
A smaller degree impulse happened inside the structure so we will look for a buy set up; however it could continue correcting, let's hope it goes as planed.
Always trade with care,
add in 4 points for ES levels.
Toady we are inside yesterday's range so far and are looking at 2 things one a move above the 2918 area and if this happens I would target 2936 for the day. NQ is leading very strong to the up side and if it stays strong this is the most likely event.
In the event the upside fails, what has been happening early as of late in the...
The Russell 2000 Index, which tends to move before the S&P 500 Index (SPX) has broken below support with strength.
On the chart above we can see that the RUT broke through EMA50 and EMA100 like hot butter. This can lead to a retrace as far down as 0.618 Fib. just to start, it can go lower.
The MACD is entering the bearish zone with plenty of room left for more...
The market made a good upward movement, and it looks like we should be ready to see a correction soon. The market looks overbought, and we have a bearish divergence. If the price can break the uptrend line and drops below 2800.00 support level, it will be a confirmation for further downward movement. It will be possible to open short trades with stop orders above...
The chart for Bank Of America (BAC) is looking bad long term, there are many signals pointing to a very strong drop.
The last time this company had a crash, it shredded over 95% of its value... The same might happen again.
Let's take a look at some of the signals:
Let's start by looking at Divergence, you can spot this marked with a light blue line on both...
IWM is looking vulnerable, printing a red day Friday while its peers $ES_F, $SPX, and $SPY closed strong. RSI may be stuck at the top of a downward sloping channel, and it's sitting at the top of a chop/consolidation zone. A failure to breakout here will likely result in a short-term correction.
Should this happen, it's likely a hint of what's to come for the...
Will be looking at the same levels I have posted for yesterday as shown on chart in the ES they are adjusted up plus 4 aprox. I do not need to be anymore accurate than that, I play areas not specific numbers, even though they works out most of the time
4H CHART EXPLANATION:
Main items we see on the chart are:
- Price facing a Resistance zone on a possible Double Top Pattern
- Bearish Divergence on MACD
Based on this, if price breaks out the Ascending Trend line below 21300.0, we will be looking for short positions towards the Ascending Wedge Pattern at 20000.0, paying attention to the middle support zones...
Yen has been in a rather bearish mode since the abandoned baby formation that formed a few months ago, I see a potential bullish correction in the week ahead. but leave some expectations for a break below t the current support zone back into the downward move.
Kiwi index approached its support at 6.8796 (horizontal swing low support, 100% Fibonacci extension,50% Fibonacci retracement) where it could potentially bounce to its resistance at 6.9311(38.2% Fibonacci retracement, 61.8% Fibonacci extension, horizontal pullback resistance ).
Stochastic (34, 5, 3) is approaching its support where a corresponding bounce could...