OANDA:SPX500USD is moving in an upward channel
It's facing resistance R1 with bullish price action at mid channel line @ 2944
A break above will take it to the next resistance R2 @ 2972
And higher it moves to the channel resistance R3 around the 3000 level which is a huge level.
This setup offers a 1 to 3 risk:Reward (r:R) with a stop loss (SL) below...
NASDAQ:EA has been trending higher since the beginning of the month.
It broke resistance at $111 and retested it twice now. It also faced twice the 1.272 at 117.84 and failed.
risk: Reward is 1 to 2 for target 1.272 and 1 to 5 for target 1.618
NYSE:SPOT has been trading in this range since December 2018.
Yesterday we saw a gap up on a volume spike at the top of the range.
Typically that would be a very bullish signal if it closed outside of the range with a solid candle but as you can see on the chart, it closed in weakness at the bottom of the range.
Let's take a look at the fibs action :
High of...
After hitting an all-time high on Feb 20, SPX started a downtrend that seemed at first to be a normal correction and took us to a bear market.
Wave 1
Initial drop from 3397.1 to 2853.3 (-16.01%)
Wave 2
Retracement to the 50% level of wave 1
Wave 3
A second big drop from 3130.2 to 2181.8 (-30.30%)
Wave 4
Retracement to the 50% level of wave 3
Wave...
NYSE:UBER crossed back above the 50% retracement of the downtrend after consolidating for 20 days and might indicate a reversal if the market continues higher.
Another set of fibs traced from the bottom of the bounce to consolidation zone projects the first target at 32.45 and second at 37.54
A reasonable stop would be set below the support of consolidation at...
