christian.langfors

christian.langfors

Current move is ~130 days cycle, 3-2-3-2 Renko pattern. Current level should provide resistance.

christian.langfors

EUR/USD is currently testing major resistance level on the weekly ( = long term) chart. If resistance is taken out, next major resistance levels: - 1.1145 - 1.1383 / 1.1484

christian.langfors

Interesting candlestick yesterday, rejected previous high. Time to fill some gaps..?

christian.langfors

probable target mid 27

christian.langfors Updated 

SPY renko chart put in another red brick on good volume last week. Support is now ~1% away (230-ish) and first major resistance is also ~1,2% away on the upside. I think we might need to put in at least another red brick on the chart before this corrective move is over. Currently I do not believe this is a "major market top", only a corrective move. The current...

christian.langfors Updated 

..no comments..

christian.langfors

"noiseless" 4h line chart

christian.langfors

Scenario 2 - the up trend continues. The current VIX pattern is somewhat interesting. We've seen this pattern before and VIX has declined from similar events. That means: 1) SPY to continue consolidating or 2) Test the ATH (and above)

christian.langfors

Primary price action scenario if up trend channel breaks to the down side.

christian.langfors

..no comments..

christian.langfors

Expecting range trading that is...

christian.langfors

The bull case: that RSI has been declining but price not affected The bear case: SPY closed at the daily low & VIX +7%

christian.langfors

The 30min chart should not need any explanation but we're in a short term up trending channel that is in a mid term declining channel. Volume is somewhat declining also, might see a bit higher volatility over the next 5-7 trading days.

christian.langfors

There is a RSI negative momentum divergence on the 30min chart building up. Plotted some support levels on the chart that needs to be monitored more closely, if we go there and what the price does then.. We're also outside Bollinger Bands on the monthly chart, price still seems to want to go up and we should see higher highs in the near term...

christian.langfors

Both VIX and SPY (15min) are somewhat rising, to be monitored..

christian.langfors

Nothing is more dangerous than predicting "market tops" but here goes. I'm guesstimating a corrective move down in the next ~5 trading days. We might have to pop a bit higher (~12270 - 12300) to kill some short stops but a corrective move is to be expected very soon. DAX have now gapped up two days in a row and fading the gap intraday has been.. ..well, nothing...

christian.langfors

Yesterday decline is.. ..ugly, we should see more business down stairs. However, price action has had its own life lately. Better have several trading plans ready and ditch the one that "doesn't work" a.s.a.p. Trading this month has been hard and I guess it will not be easier the upcoming month.

christian.langfors

I guess the charts tells the story, this is about how I guesstimate the mid term price action.