Day: consolidation continues, after a false breakout from the rising channel that would trigger the H&S pattern So will this false breakout trigger a bullish run, from today's levels? As long as TOP middle line is still a support, it might very well be the time we leave the dragged sideways movement to new heights. Not so sure of that though, yesterday's candle...
Friday closed as a dragonfly doji, just under ema40, nothing a smaller opening Monday gap, easily, could open over. 4 hours closed with an OWS pattern, after the previous candle had touched rising floor support, before returning to go north, thereby protecting it from the head and shoulders pattern being triggered (more one that if it would trigger,. later...
It looked like my last analysis was wrong but the Contracts made it down towards the rising channel floor are (see linked Idea) if S50H will break above the latest short-term high and ma200 (65min), I will then go from Neutral to Bullish and focus my day trading setups to go Long. First target will be around 970 and ema150 (week) but might very well continue...
Will see if the pullback finds support at the bigger rising channel floor, to me though, I looks like a lost cause BUT since SET50 still manage to keep above their floors, perhaps they can lead the futures for once :) Anyhow I am back being bearish, with the first target at the support & resistance, that coincides with fib.50, at around 860-870
Yesterday S50H gave us a nice Reversal, with volume taken out the previous days. Strong EoD! from the secondary support intraday breather. Would love a intraday test of 938-940, with a bullish pattern in a smaller time frame! And off we go, to first test 988 resistance, after that's been cleared, I set my Target at 1030 .
Waited in the bulls making their try and got an inside bar at ema150 and from there the Futures contract got really heavy
Is S50H in an island reversal pattern or is it creating a flag, breakout from last 5 days consolidation will most probably tell us what? As S50H is in a negative divergence and has not yet been able to close over the highs of March 2020 --Covid Highs-- a pullback down south to gather more power looks like the smart move. But the market is smart in its own way so...
S50 stopped at an interesting place this Friday, at a secondary falling resistance and support, I just love when the price knows the technical game book. Since the pennant pattern was broken, the volume speaks for an absence of interest and the probability for a false breakout is higher. Even so, will S50’s lack of interest still takes it a bit higher, to start...
SHORT order @ 890.0 Stop 894.0 For Target 880.0 / 874.0 Hedge with S50Z20C925 @ 9.5
High Volumes in last few days and a lot of Options churning , Neutral path for now Resistance 905.0 Support 850.0 for now. Short below 870.0 for 840.0 Stop 875.0 and Long above 880.0 For 905 Stop 875.0 Hedge with selling Options.
- Daily Timeframe is downtrend - H4 Timeframe is sideway; try to form higher high - H1 Timeframe is sideway; try to from higher high. If price don't close below 787, trend reversal in H1 - 15 minute is sideway in uptrend. Trading channel is 800 - 809. If price isn't below 795, It's still stay in uptrend.
Daily Chart - Trading channel is 787-777 - Green doji was shown on price chart means sideway on yesterday. - There is a chance to reach 787. - Downtrend on daily chart H1 Chart - Cluster of candle stick was stuck under supply zone. - This is a zone for collecting short position. - Downtrend on Hourly chart. * Bias Short