Daily Chart Explanation:
- Price is on an Ascending Trendline.
- Price is, one more time, facing the ATH Zone.
- Bearish Divergence on MACD on each New High.
- If price starts its down move from here, it should retest the Ascending Trendline and, in case it breaks it, there is potential to move down towards the Support Zone.
Weekly Vision:
We are looking...
The NQ Daily time frame has created a sideways
movement. When the market hits the top of the
resistance level around 8000.00 the market is
having a +1,000 tick sell off. I am waiting for the
market to hit 8000.00 price point then looking
for the sell towards the up trend line about +1,000
ticks of bearish movement.
A headline helped to break the previous support, now resistance, and led to a liquidation move back to the old support. There is a positive divergence that may play out . However, it is better to watch on a smaller timeframe a reaction first before engaging on the long side. Watch for headlines. I won't be surprised to see attempts to stop the downfall especially...
Today, the price advanced to retest the resistance and the first test attracted responsive sellers. One can see from the chart that negative divergence increased the odds. The price broke the trend line but ended up at the support. At this point we need to see a follow through and break of the support if not then the market is going to enter a consolidation phase...
A strong move down driven by a headline with a strong reversal is today's theme. There are a few reasons for a strong bounce (look at a weekly chart) :
- a failed attempt to breach a weekly trend line.
- 50% retracement Fib level
- notable positive divergence
I did not expect a strong reversal, however, on my chart I had 7577 support level and put a limited...
On Friday the bulls tried to hold the trend line but eventually lost it. That led to a liquidation move and retest the support below which was taken out thanks too headlines. Price came down to retest low prices where responsive buyers were active. The last push up happened into the closing which may suggests a short covering rally ahead of the weekend. The market...
A potential rally was suggested in the previous post. A fake breakdown of the support followed by a strong reversal. Notice positive divergences on the indicators. The trapped sellers had to cover and flip positions. A breakout of the smaller balance to upside added more fuel to the move. Now, the price is at inflection point while being overbought short term. We...
as shown... limited upside from current level until trend line breaks....
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Previous Nasdaq analysis....
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Disclaimer: This information is for entertainment only, it may be incorrect and should not be used for your investment decisions.... I just post things for fun based on what I've learned and that may be incorrect. Seek help from...
In my previous post I shared the idea to watch the channel resolution. Today, the channel got broken during the morning day session. That led to a liquidation move to the next support. The market ended the session at the inflection point again. One can see how the price travels from one level to another.
The chart shows clean break of the channel and the levels...
From resistance to support and back. The story of the pre/post FOMC action. The market structure remains intact. Both short and long opportunities today. The pre-FOMC action was quite slow and required enough patience to sit through. In fact, the recent day ranges start to shrink suggesting lack of participation.
Eventually an important support was tested and...
A slow choppy day with a bullish skew. The buyers held the position from the overnight session. The sellers were active at the resistance but one could notice no follow up to downside. They had many chances to go low but it did not happen. Eventually, the buyers broke to upside into the closing. This is a Pre-FOMC session and its outcome is not indicative per se....
Driven by headlines the Algos continue to push price higher. This usually happens during the Globex hours where the liquidity is low. However, the day session traders can find plenty of opportunities. One only need to listen to the price action. Regardless of the short term bias the market structure provides objective levels to watch and execute trades. I haven't...
The market remains in a trending mode after breaking the resistance level. The chart says it all. A notable trend line is intact until it is taken out. That would be a sign of entering a consolidation phase and potentially a short term reversal. I think that a retest of the all time high is on the horizon and before that happens the price will be trending up. ...
The chart says it all. The support and resistance area continue to function as expected. Whatever a headline happened in the Globex session it helped the support to remain intact and the buyers were grinding up back to the resistance. The market closed at the resistance. This is an inflection point. Buyers need a momentum to break through. Could be a headline to...
Not a surprising action in today’s session. A pullback was triggered in premarket and offered a short opportunity. Overbought conditions added the odds. A long opportunity was available as well in the morning session. Considering the recent bullish sentiment the buyers were constantly interrupting the correction process by attempting to turn the table. This is an...
