MACD shows the loss of momentum for the uptrend at the key resistance level, with an additional confirmation of divergence on the stochastic.
I assume market could be going south from here.
The concern for the trade is EMA(15) might act as a support. That's a factor that adds to the risk of this trade.
Earnings report on May 19.
Earnings estimate is -0.14 EPS, I assume it can't be more than -0.20.
Moreover, I assume the revenue won't beat the estimate.
For the current quarter I believe the company won't be performing as well.
Overall, I assume the stock should go down.
Thanks for reading
A classic reversal pattern at a ket support level
Divergence on the stochastic
Buy stop 1 pip + spread above the high of the last candle
SL 1 pip below the latest low
Trade will not be valid if the stop isn't triggered before the close of the next candle
As I mentioned in my previous posts regarding SPY, I assume the market will continue with the downtrend.
What I noticed now is that the Volume is drying out as the market is rallying. That may be taken as an early indication that bears might dominate the market soon or atleast we can see consolidation for a while.
Let me know what you guys think
On H4, Price at a key resistance level, making a double top pattern
Coinciding with fib retracement of 61.8
Price near MA 50.
Going aggresive, not waiting for the market to violate the trendline below.
I assume, the market will continue the newly established downtrend.
Sell stop won't be considered valid if the trade isn't triggered by 13:00 EST
Break and retest on H4.
Momentum increase towards the downside.
Basics, nothing fancy
Trade won't be valid if the stop isn't triggered before the close of 5 am 4hr candle.
SL goes above the latest high + spread
Thanks for reading. Happy trading
Market has acted out exactly as assumed in the previous SPY post. Please refer the previous post for more details
There is a divergence on the %D of the stochastic on the D chart.
Price exactly bounced off from MA(50). Now stuck between MA(50) and EMA(15), converging. So I assume it will be an exposive move.
On W chart, EMA(15) is offering resistance.
1. The price is at a key support level and has turned from there multiple times in the past
2. I assume it won't breakout for 2 reasons:
(a) The CFTC CoT reports from last few weeks shows that the Non-commercials(hedge funds) are closing the shorts on Euro and are simultaneously opening longs. For JPY, we have seen an uptrend due to massive closing of the short...