priceactiontds

priceactiontds

Good Evening and I hope you are well. comment: Bears get nothing going. Everything is bought. Do not look for shorts unless you can scalp really well. We have room for 1 more day of chop but ultimately I think we will print 22000, like sp500 wants the 6000+. Bull channel is valid until broken, so look for longs. current market cycle: trading range key levels:...

priceactiontds

Good Evening and I hope you are well. comment: Bulls finally got their retest and a higher high. Now is decision time. Can we do another leg up or is this a bull trap and we finally reverse for a deeper pullback over the next days? I heavily favor the latter but for now bears are nowhere to be seen and until then, looking for shorts is suicide. 24300 could be the...

priceactiontds

Good Day and I hope you are well. comment: We are only about 300 points higher than the previous week but market printed the obvious big round number and Friday we had the retest, which did not quite get there but close is always close enough. We are seeing somewhat of an increase in selling pressure but it’s not enough. current market cycle: trading range and...

priceactiontds

Good Day and I hope you are well. comment: The bulls gapped up on Monday’s Globex open and we never looked back. My line in the sand was 20536 and we are now about 1000 points higher. The rally is climactic in a very tight bull channel and those are always unsustainable. We are close to the ath to expect a new one or a retest but I doubt we can get there...

priceactiontds

Good Day and I hope you are well. comment: I think buying that weekly time frame double bottom below 55 makes sense. Bulls are trying to print 64+ again and hit the weekly 20ema around 64.5ish. I favor the bulls to get to the upper bear wedge trend line a bit higher around 66ish and there market will decide if we continue further in it. The structure has a lot...

priceactiontds

Good Day and I hope you are well. comment: Can’t be anything but bullish. Nothing changed so this bias did not change either. Bulls were so strong that we have corrected sideways in a tight range for 9 days now and if bears can’t even print one decent bear bar after such a rally, bears are doing absolutely nothing and the correction is mostly from bulls taking...

priceactiontds

Good Evening and I hope you are well. comment: Market is in peak euphoria again but you would be buying at the very top on an Opex Friday. Like… Just dont. Enjoy your weekend. I expect a rather choppy session maybe even a deep pullback rather than closing the week on another green bar. current market cycle: trading range key levels: 20600 - 22000 bull case:...

priceactiontds

Good Evening and I hope you are well. comment: Higher highs and higher lows compared to Tuesday. We are in a triangle and market is refusing to print below 23500. I do think we will see a big move tomorrow. What I don’t think is that we will close Friday at an extreme. If we get to 24000 again, I am very inclined to look to fade it again. Can we close this week...

priceactiontds

Good Evening and I hope you are well. comment: Can’t get more bullish than this but I am not willing to buy the exact high but rather would wait for a pullback. The only thing that we turn me neutral right now, would be a > -2% down day and close below 20800. current market cycle: trading range key levels: 19700 - 20600 bull case: My lowest measured move...

priceactiontds

Good Evening and I hope you are well. comment: If you are a bull and longed anything last week and market hit your 24000 target today, you either took profits at the top and were happy about it or you watched them burn. Now what should we expect when the market hits 24000 the next time? Will bulls willingly hold through another pullback, knowing that it could be...

priceactiontds

Good Day and I hope you are well. #btcusd - bitcoin comment: Can’t be anything but bullish. Weekly chart is clear as day and we are in the third leg up. current market cycle: bull trend inside a big bull wedge and we are close to the top key levels: 85k - 100k (if bears somehow manage to get below 85k again, we test 80k next) bull case: Upside will likely be...

priceactiontds

Good Day and I hope you are well. comment: Market closed near the high of the week and we made a textbook double bottom below 56. Sometimes it’s not more complicated than that to take a trade. current market cycle: trading range on monthly tf and bear trend on the daily key levels: 58 - 64 bull case: 63 is my first bull target, followed by 64 and above 64.38...

priceactiontds

Good Day and I hope you are well. comment: Not much changed last week so I do not change much of what I wrote then. Bulls want at least 20536 now and run all the stops from before the big sell-off. Bears are not doing anything at all, so bulls will likely get it. This could be a breakout-retest and I marked the area for that with the red rectangle. Small chance...

priceactiontds

Good Day and I hope you are well. comment: Bull targets are met and we have 4 legs up. 5 even if you count the spikes at the lows. We can do higher but what are the odds? Market is overdue for correction again and given that we easily could do -20% from here, it will be a tough summer. Technically it’s still just bullish but I would not buy up here....

priceactiontds

Good Evening and I hope you are well. comment: Market closed where it opened, after the early rally from Globex to mid EU session and then another one after the US open bear trap. I could not believe that bulls would do another strong move up after such a rejection above 20250 but meh. Can they really do another tomorrow after yet another strong rejection? Until...

priceactiontds

Good Evening and I hope you are well. comment: Triangle as in other markets, will likely do a strong move tomorrow or Friday. current market cycle: trading range key levels: 21000 - 24000 bull case: Bulls see this as a shallow/sideways pullback at the highs and want continuation for a new ath. They are trading far above the daily 20ema and the volume is...

priceactiontds

Good Evening and I hope you are well. comment: Clear trading range 19700 - 20300, don’t make it more complicated. We have FOMC tomorrow, then we will get a new impulse. current market cycle: trading range key levels: 19700 - 20300 bull case: Bulls defended the gap below to 19650 and prevent the bears from printing a bearish daily bear bar. Bulls are fine with...

priceactiontds

Good Evening and I hope you are well. comment: Historic rally we are witnessing. This move is as unlikely, climactic and overdone as can be. Yet we only move higher. Can’t short this yet. Bulls in full control, don’t fight it. current market cycle: trading range key levels: 21000 - 24000 bull case: Bulls will likely go for 24000 over the next days. Since no...