We are starting to see Dax slowly recover from its selloff from 12.4k. Target 1 which I posted on a previous chart was hit to the T. Currently price is consolidating within the box range, Target 2 still valid only if Inner TL holds. Expecting it will.
The primary TL is drawn from the previous years October selloff and represents strong support, if it holds I'm...
Right AFTER opening the price dropped like a knife creating a huge gap.
If the bias turns bullish again, this gap needs to be filled and gap can be used as a TP or SL levels.
For now I am on the side just watching.
Feedback/ideas?
The S&P500 is at important resistances based on Fibonacci projections and showing bearish momentum divergence. We are expecting a corrective down wave (4) towards the 1855 area.
Only a new weekly close above 2120 would invalidate this bearish scenario.
The Russell 2000 Index has reached important Fibonacci projection levels. We are expectiong a down wave (4) towards the 1060 area. Only a new weekly close above 1268 would invalidate this bearish scenario.
The QQQ has reached it's all time high monthly close near 109.50 and corresponding to important Fibonacci projections levels. We are exepcting a corrective down wave 4 towards 90. Only a new high on a weekly close above 109.50 would invalidate this bearish scenario.
The ES is moving slow and forming a nice flag. We have moved our stops up to further protect profits. If the flag breaks to the upside then we will expect the 2120 to get hit. With a good amount of economic news this week (including NFP) we will either get stopped out or hit our target. Either way it has been a good trade.
Longs triggered in the ES. Like the NQ first targets were hit on Friday. Next target for us in the 2120 area. This has potential of being a really good trade. Stay tuned.
Da bulls. We are long per our last post. We have hit out first target Friday and have pulled our stops up looking to the 4400 area for the next target. The third target will be open. Read past posts...if you were patient you were rewarded on this trade. Stay tuned
The NQ is getting close to firing off a long trade. We want to see a break and close above 4275 before we establish a position. This goes on the watch list.
Watch more on our Weekly Video Update: youtu.be
Japan 225 in the long term may be a good short which could show to be VERY profitable.
Japan has been forming lower highs since 1991 which the next one I believe has just formed, as it did not break the last high. A doji has formed on the last potential lower high which shows indecision in the market after a bullish move since 08/2012. After the doji was formed...
SANTA IS BACK!!! All indices are in BUY mode. We are aggressively looking for buy opportunities on the $NQ, $TF ($RJ), $ES. We would like a pullback to the shaded zone but looking at past rally's that may happen. Any buy triggers on shorter time frames will be bought. For the emini S&P we will be targeting the 2100 area for the first area to peel some profits.
Been keeping an eye on Wall Street as its reached an all time high with price rejecting it. After a bearish engulfing on the weekly we can now see a rally down back to the 16,000. With Fib C in place on a previous demand & supply area where the market has produced engulfing candles in the past this is an important area of confluence if you zoom in for P.A on the...
The ES1! paid us well on our last trade (see post link) The only mistake is we didn't press it into the mid 1800 levels. Now the bounce is on. Here are some levels we are looking at for the next week. If we creep above the second resistance area then the bulls could step in and try to squeeze the bears.
The ES1! is treating us well. We almost got both targets on the same day. So we are still holding half our contracts. From our original post we have moved our stops down to protect gains. We are expecting a little bounce before she rolls over again. FYI...we will do what we can to protect the gains of the second half of the trade while giving the market...
