nasdaq is making a couple tradeable patterns, but all of the action is happening on the lower time frames for me so it's kind of hard to make sense of it on the higher time frames. This is more of a lesson than trading advice. Just some things to looks for when trying to make sense of price movement.
We've have a couple of decent days since the support test @ 12300 area.
There's been many things going on with treasury bonds, stimulus (which should be signed today), etc.
IMO we are still within the current downtrending channel but showing some signs of hope as we approach some key areas.
in no specific order:
1) 21 EMA on the 1D chart is being...
Happy new years to you all,
We have been seeing a massing bull run in the crypto market in the last few days and I believe the best is yet to come. I first would like to say that based on the maximum amount of ETH in supply I believe that ETH will hit a MKT CAP of $148,000,000,000USD. This means each ETH of course would be worth $1300USD. I personally thought...
Just what I see, continuing what I posted from last night. The first yellow Oval was what I was thinking last night, as 1. an exit for scalping/ if breakthrough would confirm the breakout to re enter.
The newest one is where My concern would be for the next breakout and would be enough confirmation to reenter the market.
I draw randomly squigly lines with how...
EURUSD closed the weekly candle with a long legged Doji outside the bollinger band.
Not to mention the massive support zone we have around 1.0510.
This could activate a rocket correction from the last 14 days of downtrend.
Another interesting thing is the movement from November 2015.
After weeks of downtrend the price turned in the last November week at 1.0510...
Publishing a potential reversal in gold, offering an initial 6.8 R/RR
i think NFP tomorrow will ultimately determine the direction of this. Would be happy to short if 1250 breaks as the risk / reward simply inverts and offers good potential.
Looking very oversold on the RSI but it has been lower in the past. Also, we are on our 8th consecutive down day, which...