The chances of a Brexit deal took a nosedive, since reports circulated in the media that DUP could dodge the deal in UK parliament.
There has considerable longs in the counter and hence, we expect traders to trim their position.
Technically, the counter has broken down a critical level of 1.27271 and so, it could move to the next support level of 1.25381.
A few more lines added in to show direction
Down to 190 Billion then...
Up to 212 Billion...
Most likely a dump to follow,
if we break up from 212 then we may be seeing a reversal on the market.
Hard to speculate where we will go from here.
I still seeing the details laid out in my last update panning out,
refer to my last post for relevant data.
The month of August was very hard to forecast, track and therewith reliable trade as price raced back and forth in a 120p range on the S&P500. Life would be very easy if we'd known beforehand this would happen. But how could one know!? After several back-and-forth races the triangle option became more and more likely and today's price action combined with Friday's...
The S&P500 (and all other major US indices) experienced some (nice?!) whipsaws last week: Neither the bulls nor bears won. Whatever the future may exactly hold, the recent price action is very confusing and still, believe it or not, range bound. I've seen more ways to Elliott wave count the price action over the last two weeks, which in the end IMHO means it is...
Continued Euro weakness and uncertainly may strengthen the Yen. Technical trendline break is a possibility if the pair close below for the week. Considering cloud analysis, its still very much bearish but it is at a level of support which may stall the move down. Will have to wait for price action to indicate otherwise to proceed with long sell of the pair.
Price Action (Technical Analysis):
(4H Time Frame) Following up our Mark Up phase completing at a key level of resistance, price is consolidating, as price is not breaking higher highs after 3 Impulsive Waves. We tend to anticipate a Seller momentum breakout as price is accumulating right above our Golden Fibonacci Level giving us more reason to anticipate a...
VXXB fitting very nicely into a possible reversal. S&P 500 will correct in the near future, the question is when. With the sentiment in the market, not sure how it can pass its all time highs which are approaching within the next couple days.
Added to my long around 28, if 28 breaks our last line of defense is 26.
We can see some disrespect for the upper bound KC here, but I am honestly unsure of how the next 24 hours will play out. In the end, I believe strongly we are going to touch 3500.
On a personal note, it feels fantastic to have March made right in the beginning. I am definitely feeling a little light headed and I will probably be takin' a vacation to cool my jets...
- Stochastics moving into Oversold conditions
- Price action close to a Short-Term Resistance Trendline (not a strong trendline and may break)
- Brexit uncertainty in its final stages may cause some volatility on the EUR pairs and GBP pairs; causing it to break the ST Resistance Trendline
- On a longer perspective, a...
Pure Technical Projection.
Uncertainty, could break for any of both sides, but look more like a bearish situation.
EMAs 144 and 233 are reacting as resistances.
Could stay on sideways for some time.
Been out of town and offline with little to no trading/charting in the last week or two. Figured I'd take a look at the daily chart so I can set some longer term limit orders until I get back into trading. I could probably explain this chart, the trendlines, and the unmarked elliot and fibonacci analysis I did but that'd take too long.
If you wanna see that stuff...
I'm no pro but in my books DJI looks bad... The S&P500 is no exception as it's following a similar pattern.
The worst thing about patterns is that patterns rely on something that has already happened and has nothing to do with what is going to happen.
With this said, there has been somewhat uncertainty in global affairs...
No one can predict what is about to happen
Don't be fooled into thinking anyones chart is certain
All it takes is 2 whales to cause a massive sell off and liquidate longs
Are we gonna burst out of this Bull Pennant, or get a mega dump?
I've drawn on my chart two primary structures - the long-term ascending channel (dating back to 03/25/17) and the shorter term descending channel (from 12/16/17).
We've already fallen out of the short-term descending channel in February but touched the longer-term ascending channel and bounced off it neatly.
Based on the development of these micro- and...
There is a weekly channel UP on the AUDUSD, The weekly 20 EMA has held for the early stages of the trading week, with a lower than expected retail figures for January, and positive Current Account Numbers for Q4. We await the RBA interest rate announcement at 2:30 Pm today. It is anticipated to remain at 1.50%
On the lower time frames the H4 is no longer...