Tradeofgrey

Tradeofgrey

Hello Everybody. Hope you all had a great day trading yesterday. A lot of you sent your results from yesterday and they were amazing. Using simple price action to take trades. Its easy as that. Today will be interesting, Nasdaq has been in a consolidation phase all week after last weeks bullish run. Today we reach the lower channel line and price will either...

Tradeofgrey

Hello Everyone, The price is moving exactly how I analysed couple days ago. As I said the strong resistance area around 12850 will move likely not get broken due to the way price reacted around that area in the past. So where is price going. For at least today I will be looking for price to drop to at least 12413 and then price may push back up from there....

Tradeofgrey

I gave you all the key levels yesterday the price was at the purple line. Look how prices played perfectly in my key ares. The important of drawing perfect key levels. You can see clearly price either respects it or breaks it. Crazy stuff

Tradeofgrey

Please check the higher timeframe analysis to understand what is happening. I can see there is a rising channel and price has hit the top of the channel also the key area of resistance. If price does push down we can expect it to come down to areas of 12711-12225.

Tradeofgrey

Hello Everyone. We had a great run on nasdaq so far and now I can see nasdaq has reached a very strong key weekly area of 12930, the price has also simultaneously hit a strong trend line, This trend line has a history which I have highlighted, many times over the months this trendline has been tested. many occasions it failed to break, in the recent weeks we can...

Tradeofgrey

Hi everyone. We had a really clean break yesterday out the falling channel after some positive news releases. For today price will continue to go up at least 12584 the next resistance area. If this area is broken then price can push to the next level 12841. We will see some more bullish movements before anymore sells.

Tradeofgrey

Hi Everyone. Iv drawn few more bearish key levels to watch out for if price does break down from this consolidation. Its been a really nice consolidation with many opportunities to trade inside the box. We will be getting a break very soon and price may push up or down. If price push up we can expect it to go to areas of 12400-12700 and if price push down then...

Tradeofgrey

Hi Everybody, Nasdaq is still in consolidation. We can see a descending triangle that has been formed inside the consolidation box. These types of triangles usually indicate a bearish continuation so we can expect price to break down and continue to go down. However if price does break up we can see some bullish movement before coming down. Will keep you updated

Tradeofgrey

A quick analysis of the lower timeframe. I have created a box where price is moving in the sideward motion. We can also see a falling wedge formed inside the box, Falling wedges are usually a continuation pattern so price is likely to come down and then push price back up breaking the wedge and moving to the top of the box at 12063. Lets see how this plan plays...

Tradeofgrey

The market opened last night with a very big gap, I expected it to go down as it was a strong area of resistance as you all already know from yesterdays analysis. The market is currently coming towards the 11700 area and price should bounce off this area back to the top before pushing back down. However with the momentum there is also a chance 11700 support can be...

Tradeofgrey

I painted this out earlier. Lower low, lower highs. Worked out beautifully with a nice trap at the end!!

Tradeofgrey

Hi Everyone, Hope you had a great weekend and back for another crazy week. Sorry the analysis is a little later than normal. Usual time for main analysis will be approx 7:30am GMT. Last week the analysis played out beautifully. Lets see what this week has to say. We are still in a downtrend on the higher timeframes. Nasdaq is in a falling channel, the market...

Tradeofgrey

On the 15min timeframe we can see a rising channel formed however this is after a bearish movement down, l which indicates we can see a price push down as analysed on the higher timeframe. If price break out of 12132 area and break of channel up then check previous analysis to see where price will be going. This analysis is purely for the bearish move down.

Tradeofgrey

As I analysed this morning price did come to 11687 area where it couldn't break and bounced back up going to 12132 area. Here price maybe be respected which can result in price being pushed back down to 11687 area which if broken can go down further. I think the next 4 hour candle will close above the centre line and the next 4 hour we may see price coming back...

Tradeofgrey

Hello everyone, Yesterday was a crazy day. We had moves of close to 700 pips. The price smashed through all the key areas and reached close enough to the monthly lows as analysed and expected. Where do we go from here now? So price is not only near the monthly low but also centre trendline. I will wait to see how price reacts around this area as it is a key...

Tradeofgrey

From the previous analysis, nasdaq has done as expected, failed to break the strong resistance area and pushed price back down. Price has currently broke through 12205 area of support, we will see how price reacts here and if it can close below. There is high likely price may push back up from here to retest levels around 12400 area before pushing back down,...

Tradeofgrey

Hi Everyone, I will start todays analysis on the 4 hour time frame where we can see a bearish channel that had been formed over the last few weeks. We are now at the top of the channel again after the monthly lows of 11677 which was also the bottom of the channel. This area we are at the moment 12532 is a very strong resistance area which has been tested many...

Tradeofgrey

Hi Everyone, Nasdaq is in a key area of resistance also the centre of the trend line if broken can reach 12874 area, also the top of the channel. However with the current market state I would expect price to push down again to previous lows of 11600 area and break through this to reach the next monthly support of 11000. Key to remember, The moon is not the...