L3Trader

L3Trader

If you're a technical trader like me, you will know what I mean.

L3Trader

The double top formation on the S&P 500 is clearly rejecting the 2640 previous support that now became a resistance and may trough the price to 2016 minimums.

L3Trader

Affff, just hate these rejections. Might be a very bad sign.

L3Trader Updated 

The line of 1.9145 has been tested three times in the previous days before the breakout occur. It is now very likely that it will test it again to confirm the new support before rallying into new highs. Today the retest seems to be a great option. If it hits today, tomorrow we will probably start the new highs adventure.

L3Trader

It's predicted a breakout above, since we're in a strong uptrend. Anyone disagree?

L3Trader

The fact that the last week this pair couldn't make a new higher high facing the previous higher low, places us in a downtrend. So this week we should be looking for short entries in lower timeframes for a wonderfull target down bellow of 133. But you first have to wait to see if the pullback to previous support holds. If it holds, then it's you short entry....

L3Trader

Daily Timeframe. Previous Resistance now became support and holding for the third consecutive day. Anyone else thinks it's a long?

L3Trader

Just broke the small ascending trendline it was forming with the consolidation.

L3Trader

It's predicted that it at least retest the trend line, since it's failing to close above the resistance zone. A good entrance will be on the retest of the zone once it breaks it since it will be in confluence with the trendline. DO you agree?