2 weeks ago, the S&P make a high of 3945. Last week it has crept up to 3915. It is being resisted at this level for almost the whole of Friday and we are seeing the few tops being created. There is RSI divergence being shown and likely to have a fall. We won't be taking this trade as AUDCAD would fall at the same time, but would watch this closely.
The markets have been taking a hammering but there has been some recovery today. Based on technical analysis, this will not last and it will fall tonight. We are seeing a sell pattern in AUDUSD. This pair is correlating to the stock market and when it falls so does stocks. The last time we sold this resulted in a 300 pips run! The same pattern is appearing on...
Background: H4 trend is down D1 trend is down M30 OB M15 OB Waiting for weakness to sell.