Confluence: Double Top @ .755 Resistance level Weekly Double Top High Test Candle on 9/10/2016 Bearish MACD Divergence Triple Top @ Resistance on Hourly Great Risk/Reward
I think this is pretty straight forward. Solid lines = possible Fib bounce lines Lines with breaks = previous support lines MACD: RSI: (Note the date on these) Global outlook: SPX Big picture: The direction everything is moving in:
i'll be watching $LL in the morning for a spike into the 16.50 resistance area. I will be entering my short position on the front side of the move using the 16.50 area as my risk. Will stick to stop because next resistance is in the mid 18 area.
TVIX has been playing well off of daily S/R outlined in chart, likely pops soon or else 2.75 support could test. My guess is it at least tries for 3.84, and if strong enough, we could extend targets to 4.25 area. bounce off of 3.00 strong so far
Technical analysis of BAC's chart indicates strong levels of resistance at 18, and 15.25, the latter of which has just seen a completed double top in the past few weeks This indicates that we should break lows and test lower, 9.9 and 8.27 (more significant) supports are supports we could test. let me know what you think
Shorted GBP/AUD based on the following reasons: - Not able to break above 50 fib line on daily - Beak and retest of 2.03 level - Bearish engulfing on Daily Caution: This might be a fake out and we could possibly just be re-testing the broken descending trendline in which this trade would be invalidated i.e. the trade would be closed if PA turns bullish.
Hey guys! Found a good retracement back into the resistance level inside a channel! Good short all the way down to the end of the channel maybe? Good luck guys! Let me know how it turns out! Oh yeah! There is a volume divergence on the 15 min chart! Just more info to give a clearer picture :)