Please take precautions in your trading in the coming weeks of trading. I see a strong indication that the exhaustion is here.
Have a look at the weekly charts of the S&P
It is clearly showing a bearish divergence, indicating that the up move is exhausted
I am expecting it to potentially reach the 2877 horizontal level or even the support trend ...
BABA completed the Bullish Crab Pattern. If you were following my earlier post on BABA (see related posts below),
you would know that I shorted this at the support turned resistance levels. Just closed that trade at the completion of the Bullish Pattern
Now I would see how the market opens tonight, see if there is opportunities to go long on this
Could this be ...
At this moment, the charts seems to be showing us that it is at a Support turned resistance zone.
I see price potentially dropping further to complete the Crab pattern at around the $138 levels.
Let's see where this goes.
I see a Bearish Bat pattern completing around the 1.6250/6300 levels. This recent move up is mainly due to the the movement of the AUD rather than the EUR.
President Trump pushing for a tax on the US$200B China imports towards the end of last week was the probably the root cause of the AUD weakening significantly. AUD is the closest proxy of all the G10 ...