DAX is trading on a Bullish Megaphone inside a five month Rising Wedge. The 1D time frame is in green (RSI = 60.102, MACD = 197.500, ADX = 27.090) but the 1D RSI has been sideways at best (if now on LH) for as long as the Bullish Megaphone trades, which is a bearish divergence. This is similar to the RSI formatio of the last Wedge High on Dec 13th after which a...
Nasdaq crossed under the 4H MA100 line that was intact for more than 1 month and turned the 1D time frame neutral (RSI = 53.616, MACD = 239.030, ADX = 26.220). The 4H RSI is breaking under its Rectangular bottom also and the index should now follow downwards inside the greater pattern, which is a Bearish Megaphone. We are aiming at the 4H MA200 (TP = 11,950) and...
The EURUSD pair is under the 1D MA50 for the third straight day, turning oversold on the 1D time-frame (RSI = 40.326, MACD = -0.002, ADX = 27.225). This is adding extra sellig pressure on the price with S1 being the first support on its way to lower trading levels. The Fibonacci retracement levels are particularly useful on this price action and assuming the...
DAX is trading inside a Channel Up on bullish technicals both for 4H (RSI = 58.830 , MACD = 35.400, ADX = 33.092) and 1D (RSI = 65.538, MACD = 212.600, ADX = 27.945). 1D is stronger as its pattern is a Bullish Megaphone for the past 1 month. Basically we are now expanding on the breakout signal given on Monday as shown below. The Channel Up rises on every...
Gold is trading inside a Channel Down on a technically bearish 4H time frame (RSI = 42.428, MACD = -8.260, ADX = 23.790). Every time the price rises near the 4H MA50, it gets rejected, makng it the technical Resistance. The structure of this Channel Down is as follows: First the price drops by -2.00%, then it rises by +1.00% and repeat. The rise is being carried...
Natural Gas is very bearish on the 1D time frame (RSI = 36.041, MACD = -0.435, ADX = 40.625) with the RSI a few days back even oversold as since the December 15th Triple Top it has been falling non-stop. That fall was initiated not just because of the Triple Top but also because of the RSI's Lower Highs (LH), which flashed a Bearish Divergence. The price this...
Silver is completely bearish on the 1D time-frame (RSI = 30.745, MACD = -0.501, ADX = 35.018) with the RSI almost oversold. The long term pattern since early 2021 is a Channel Down and the last time inside this pattern the 1D RSI hit 30.000 was on September 1st 2022, which was a market bottom and Lower Low on the Channe Down. In order to help us get a better...
The S&P500 index remains neutral on the 4H time-frame (RSI = 54.250, MACD = 4.390, ADX = 29.647) and without any technical buying pressure, especially following the higher than expected CPI report today, may be have made a Double Top similar to December 13th. If the 4,200 Resistance breaks, we will buy and TP = 4,300 (under 4,330 August 16th High). Until then, we...
Dow is bullish on both the 4H (RSI = 52.865, MACD = 54.270, ADX = 29.792) and the 1D (RSI = 53.777, MACD = 101.160, ADX = 20.876) time frames but not on a wide margin. This is because it has been on a rather controlled rise inside a Channel Up since December 20th (only broken once). For the past 3 weeks every 4H MA200 pull back has been the most optimal buy...
Gold formed a Death Cross on 4H turning bearish both on 4H (RSI = 38.637, MACD = -8.760, ADX = 19.351) and the 1D time frames (RSI = 40.973, MACD = -1.230, ADX = 37.908). If the February 02 Top is anything like April 2022 top as we brought to you with the following idea, then a break down of the 4H Death Cross of that period and comparison with today's may be...
The EURUSD pair turned neutral technically both on the 4H timeframe (RSI = 51.027, MACD = -0.001, ADX = 32.294) and 1D (RSI = 48.083, MACD = 0.000, ADX = 32.045) and that creates the conditions for sideways trading. Though the short term pattern may be a Channel Down, we will use the range provided by the Double Top and Double Bottom 1.07900 - 1.0670 to scalp for...
DAX trading pattern for the past 30 days has been a Bullish Megaphone. Throughout this whole pattern, the 4H RSI is having a clear Support to buy and a clear Resistance to sell. With 4H technicals neutral (RSI = 52.897, MACD = -5.800, ADX = 26.094) we have no option but to use breakout trading to limit the risk. The current pattern appears to be following the one...
Nasdaq has had a strong rebound today, exactly on the HL zone of the January 6th Low. The 1D time-frame remains bullish (RSI = 60.492, MACD = 260.010, ADX = 29.305) and as long as the 4H MA100 holds every dip on the HL Zone is a buy opportunity. However the Channel Down since the top is more than obvious and in addition, this is the first test of the 4H MA50 as...
Ethereum is on a strong sell sequence paradoxically after its first 1D Golden Cross since August 7th 2021. At the moment the price is testing P1 (pivot) which has been going unnoticed. As long as it holds, with 1D technicals neutral (RSI = 45.634, MACD = 43.610, ADX = 25.785), target the R1 (TP = 1,760) and if a cross over it takes place, target R2 (TP =...
The EURCHF pair is being heavily rejected on the 1W MA50, the 1D time frame has turned bearish (RSI = 42.235, MACD = -0.001, ADX = 20.466) and the target is now the S1 (0.97300). Only crossing above the R1 (1.009500) justifies a buy, in which case the target will be R2 (1.051500). ## If you like our free content follow our profile to get more daily ideas....
The USDCHF pair is forming the Right Shoulder of a Head and Shoulders pattern. For many weeks now it has found Support and is turning sideways within the Shoulders Rectange and can trade within that range for as long as 6 months. This is an excellent sideways trading opportunity. Proof that 1D is technically neutral (RSI = 50.834, MACD = -0.001, ADX =...
Bitcoin is dropping rather sharply after the 1D Golden Cross formation on Monday turning the 1D RSI neutral for the first time in more than 1 month (RSI = 45.936, MACD = 661.500, ADX = 29.791). In the process, it reached S1, which is a wide Support Zone. In our view, it has greater probabilities of making contact with the 1D MA50 before rebounding, so until this...
Short term update for EURUSD on the 1H timeframe whose technicals are neutral (RSI = 45.855, MACD = 0.000, ADX = 34.784). The reason is this very well structured Channel Up that has just tested the 1H MA50. If it holds, target the 0.382 Fibonacci (TP = 1.0800). If the 1H MA200 breaks, start targeting the 0.5 Fibonacci and 0.618 Fibonacci. Short term strategy...