Bulls and Bears zone for 08-24-2020Overnight session market has rallied to another ATH which could bring sellers out and try to close the gap.
Test of ETH High could set direction for the day.
Level to watch 3424 --- 3422
Emini
S&P E-MINI 500 (15MIN)Good probability: we have a uptrend
The market will keep going up
% probability: 65%
Stop Loss: Red line
Take profit 1: The Orange Line
If the Candle cut with Force the First line ( Orange one) Then You can buy again
Take profit 2: The Yellow Line
Bulls and Bears zone for 08-21-2020After any rally market gets sold off which could be a sign of distribution and what to come in very near future.
Would like to see a test of ETH Low, which could set the direction for the day.
Level to watch 3370 --- 3372
Report to be aware:
US:Existing Home Sales
10:00 AM ET
E-mini Good Example of Negative DivergenceThe negative divergence on the MACD told us not to take the breakout on the E-mini.
Bulls and Bears zone for 08-20-2020Yesterday market hit another ATH and sold off which continued during overnight session.
Test of yesterday's Close could provide some idea about direction for the day.
Level to watch 3365 --- 3363
Reports to be aware :
US:Leading Indicators
10:00 AM ET
US:EIA Natural Gas Report
10:30 AM ET
Emini setting up for a stop hunt on 4HThe 4H chart for CME_MINI:ES1! has been making equal high tops since 10th August 2020. This means there should be a bunch of stops above the highs.
This also being the all time high, there's a very high probability of a stop hunt and then a push lower into demand zones below.
Direction bias :
1) Stop hunt in direction LONG
2) Followed by reversal SHORT
Bulls and Bears zone for 08-19-2020After hitting ATH yesterday, Sellers were very aggressive but market rallied to its morning High and closed near HOD.
A test of yesterday's High should provide direction for the day.
Level to watch 3390 --- 3392
Reports to be aware:
US:EIA Petroleum Status Report
10:30 AM ET
US:FOMC Minutes
2:00 PM ET
Bulls and Bears zone for 08-18-2020We had a very narrow range of trading during yesterday's RTH session, but overnight session expanded that range.
Therefore, one could expect the market to breakout one way or the other.
Level to watch 3374 --- 3376
Bulls and Bears zone for 08-17-2020Market has been trading within a range during overnight session.
Any test of Friday's Highs could set direction for the day.
Level to watch 3375 --- 3373
Spx potential double top.we're favoring a return to highs as of now.
this gets confirmed within a couple more daily closes above 2810.
invalidates completely below 2720.
a double top would bring us a target of SPX 1000. 3400-2200= 1200 --- 2200 - 1200 = 1000
we have many reasons to assume such a target is not only possible but likely.
if we get a higher or a lower high then no target can directly be inferred...
we do not completely exclude a continued bull market, but that's not our preferred view at this moment... and after 10 years of rising prices.
Please note: if you're a swing trader or investor you may prefer to wait for Macd cross on daily for confirmation.
Bulls and Bears zone for 08-14-2020Yesterday market rallied and sold off then found resistance at Fibonacci 50% level, overnight session pattern seems to be about the same.
Would like to see a test of yesterday's RTH session Low again today.
Level to watch 3355 --- 3357
Reports to be aware:
US:Business Inventories
10:00 AM ET
US:Consumer Sentiment
10:00 AM ET
E-mini looking for reversalHad a good run on e-mini. Looking for reversal now. The negative MACD is indicating weakness
Bulls and Bears zone for 08-13-2020Market has been trading in a range during overnight session.
A test of ETH High should set direction for the day.
Level to watch 3364 --- 3362
Report to be aware:
US:EIA Natural Gas Report
10:30 AM ET
Bulls and Bears zone for 08-12-2020Yesterday afternoon market sold off aggressively and found support at LOD of two day's prior and Closed at day before LOD.
Therefore, sellers are probably being aggressive.
Any test of Fibonacci 50% level from yesterday's RTH session should give indication for the day.
Level to watch 3325 --- 3327
Report to be aware:
US:EIA Petroleum Status Report
10:30 AM ET
Bulls and Bears zone for 08-11-2020Overnight session market has rallied without any significant pullback.
A test of yesterday's Highs should provide some direction.
Level to watch 3369 --- 3371
RTY1 1D BEAR FLAGBear Flags are Ranges that are repeatable trading chart patterns.
Bear Flags are a chart patterns that will have a directional bias depending on the previous incoming trend.
Each chart pattern will have defining trendlines of the support/resistance levels creating the pattern.
What ever time frame you are trading this chart pattern, wait for a candle close outside of the trendline in the direction of the breakout candle. (Our time frame preference is the Daily chart).
Add volume indicator - Volume is the amount of $ that went into a particular candle or in Forex the # of trades that took place.
Add ATR indicator - Volatility is the amount of price movement that occurred. Use the ATR to measure the price movement.
When you see descending Volume bars and descending ATR line (which indicates volatility) this shows
a dis-interest in traders to invest in this pair creating consolidation which creates the chart pattern.
Trade Management after there is a breakout candle close.
1 - Position size (compare volume bar to volume ma line).
a - Breakout candle must be 100% of average volume for a full position size.
b - If 75% of average volume then ½ position size. (To find 75% of Volume
look at the charts volume settings – divide smaller # into larger # = 75%+)
2 - Enter two trades.
3 - SL for both trades will be 1.5 x ATR.
4 - 1st trade TP will be 1 x ATR.
5 - No TP on 2nd trade – letting profit run and adjusting SL to follow price.
6 - When 1st TP hit – move 2nd trade SL to breakeven.
7 - Adjust the 2nd trade SL to follow price.
*8 – After Breakout candle – if price closes back into chart pattern close trade
*9 - When breakout candle is more than 1 ATR from breakout candle open.
a - Enter 1st trade at candle close with ½ position size.
b - Enter 2nd trade with a pending limit order that is 1 ATR of breakout candle open.
c – Price should pullback to that pending limit order for 2nd trade.
d – If Price returns back into chart pattern close trade before SL is hit.
Bulls and Bears zone for 08-10-2020This market just keeps rallying, It seems that traders want to test ATH which would not be surprising at this point.
A test of Friday's RTH session High should provide some direction.
Level to watch 3352 --- 3354
Report to be aware:
US:JOLTS
10:00 AM ET
Bulls and Bears zone for 08-07-2020Overnight session market has sold off to find support at Fibonacci 38.2% level.
Any test of ETH Low would probably set direction for the day.
Level to watch 3333 --- 3331
Reports to be aware:
US:Wholesale Trade
10:00 AM ET
US:Consumer Credit
3:00 PM ET
Bulls and Bears zone for 08-06-2020Last three RTH sessions trading range was smaller then previous day, which might be an indication of a pullback is imminent.
However, a test of ETH High could set the direction for the day.
Level to watch 3300 --- 3302
Report to be aware:
US:EIA Natural Gas Report
10:30 AM ET
Bulls and Bears zone for 08-05-2020Overnight session market has continued its rally after making a double bottom during yesterday's RTH session.
Any test of ETH Highs should provide some idea for the day. Also need to keep and eye on yesterday's Close.
Level to watch 3319 --- 3317
Reports to be aware:
US:PMI Services Index
9:45 AM ET
US:ISM Non-Manufacturing Index
10:00 AM ET
US:EIA Petroleum Status Report
10:30 AM ET
Bulls and Bears zone for 08-04-2020Overnight session market has struggled to continue its rally.
If ETH test fails and closes the gap from yesterday, then we might see a pullback.
Need to see a test of ETH High.
Level to watch 3273 --- 3271
Reports to be aware :
US:Factory Orders
10:00 AM ET
Emini breaking down from a daily WRB hidden gapIf this candle closes below 3076, it's a sell. Only catch is - the downwards breakout from the wrb sell zone is not happening on high volume (currently at 1:35 PM PST).
Trail your way down. Next bullish WRB hidden gap zone is at 2624
