About meLoving the life long learning and skill set development of being a technical analyst.
4 things to note:
- No emotion (If i am wrong, stuff it - next opportunity)
- Attempting to place probabilities in my favour
- Protect your capital
- Never give up
So, the FED decide to lower interest rates for the first time in what... 10 years? Good stuff (or is it?). Seems silly fundamentally i know. Oh well, enough of that sort of talk.
Currently, 1 August 2019 (8.30am +GMT8), the price is 2,970. We have same support around 2,957/29,70. If we break through here, there is some serious downside ahead.
How are you going?
Based on my daily chart, i am thinking (and perhaps even wondering) whether we are likely to see some downside action in the US30 (for the week commencing 29th of July 2019).
Momentum appears to be waning. If we break the EMA 10, EMA 20 and last weeks low (commencing 22nd July 2019), i would not be surprised for some further...
Well, what can you say here.. the EURUSD is a 'sh*%ty" and choppy sideways action of recent times (particularly when reviewing the 200 day MA).
Look at how it is hugging the 200 day moving average right now on my chart.
Really, based on this time frame review, there is nothing in my mind that can suggest a big move either way.
We shall see how things go this...
The way i see things (purely my opinion only), technically it makes sense to me why there has been a rejection late last week of the recent rise up.
You may be asking - what is in the way for resistance levels? Well,
- September low (red horizontal line)
- November high (red horizontal line)
- 50% Fib from recent low/high in the way
We all have different ways of analysis and reviews - and i know there is no one right method. Here is my first share and post.
This is my take on the week ahead for the SPX500 (week commencing 12 February 2019).
Interesting resistance levels to watch - as shown on my WEEKLY chart.
55 day MA in sight
61.8 fib from recent low high
Notes as part of my normal...