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S501! trade ideas

S50H21The contract hasn't been able to take out the latest high, has continued down south after the latest high doji. Yesterday closed on a secondary support area . Contract is still in a positive trend, although the uncertainty from the latest high isn't comforting so a test of the double bottom highs and a convincing pattern around there might be all that is needed, as it is also at a long term support area. If the bearish sentiment continues for the rest of the week, S50H might even down to test the secondary support
TFEX:S50H2021
by SamuiTrader
S50 is getting unsure what to do nextEven though S50 broke to the south through a long term support, with weekly ema150, the force of nature took the price back and held it above, waiting for next week to start. If looking back to middle of January there are some great similarity's, with then and now. So by looking at the history of the graph, one could expect that the bears will take over the lead for a while. Because of this, I'd not go Long at this point, although am open to go Short intraday, after a pullback . I'd love it if an bullish reversal pattern would come around 940-945, to step back being more genuine bullish.
TFEX:S50H2021
by SamuiTrader
S50H saga continues, how will it end??S50 has refused to trigger the H&S pattern and broke out from a 65 min inside bar, with a retest gap, from which it went directly north from, until about 3 pm and the retest started to finish the day with the buyers taking over as the leader. As long as the H&S wont come real, I am back on the flag pattern, which now has turned into a pennant flag, with the target of about 1200. A breakout from the sideways movement will tell us, this is a breather in the 2nd phase or a 3 phase top and who will be smiling in the end, the sellers or buyers
TFEX:S50H2021
by SamuiTrader
5
Was it a false breakout S50 had yesterday? Day: consolidation continues, after a false breakout from the rising channel that would trigger the H&S pattern So will this false breakout trigger a bullish run, from today's levels? As long as TOP middle line is still a support, it might very well be the time we leave the dragged sideways movement to new heights. Not so sure of that though, yesterday's candle didn't manage to stay above the long term support and resistance and left a 7 point shadow above, through the resistance. 65 min: the inside bar at TPO balanced line did show its powers, is there more, to take the price even higher, is the question. My conclusion is, S50s yesterdays pullback occurred due to the extremely bullish day of the SET50, which made the contracts test 930-resistance. So if help will be given today, as well I don't know but have the feeling that so that the S50 contract needs another helping day to be able to stand alone.
TFEX:S50H2021Short
by SamuiTrader
1
Is S50Hs pullback over and done with?Friday closed as a dragonfly doji, just under ema40, nothing a smaller opening Monday gap, easily, could open over. 4 hours closed with an OWS pattern, after the previous candle had touched rising floor support, before returning to go north, thereby protecting it from the head and shoulders pattern being triggered (more one that if it would trigger,. later on). If this doesn't help S50H to return to a bullish run and a breakout, from the looong sideways move, its been in since it broke out of the pennant flag pattern, in November of last year. I am still bullish, at least in the short term, until it has broken out of, has a higher low and is above the secondary support of 953 and then I will grow longer horns on my head. Before that, will be well aware of the risk of a breakout to the downside, and the H&S target that will probably be in the 825-830 something.
TFEX:S50H2021Long
by SamuiTrader
S50H21 looking strong but is it time for a pullback??Is S50H in an island reversal pattern or is it creating a flag, breakout from last 5 days consolidation will most probably tell us what? As S50H is in a negative divergence and has not yet been able to close over the highs of March 2020 --Covid Highs-- a pullback down south to gather more power looks like the smart move. But the market is smart in its own way so might just as well show new strength and end the current week, with daily close over 978. Up until today I have only traded Long. Tomorrow I gonna wait a bit longer, than I usually do, to see which side looks stronger, before I setup my day trades...yeah, that if S50H doesn't open with a strong gap, in any direction, that clears some wicks and traps investors. Because then, I will be there to help those investors get stopped out *haha*
TFEX:S501!
by SamuiTrader
5
S50Z2020 Highest Close Since Early JuneS50 stopped at an interesting place this Friday, at a secondary falling resistance and support, I just love when the price knows the technical game book. Since the pennant pattern was broken, the volume speaks for an absence of interest and the probability for a false breakout is higher. Even so, will S50’s lack of interest still takes it a bit higher, to start and consolidate around the 970 resistance and support. And from there, start to show some interest with higher highs and higher lows or will the air leak out and testing the support and resistance area, somewhere around 850-900? Since the market sentiment, last month or so, is mostly driven by Covid vaccination news, and any “old”-normal it can bring back to us, so will any news come to push S50 –and the broader market— in any direction, or is it time for the market itself to show any strength/weakness? Before I’ll end this analysis, I have to mention SET and that it is playing tricks with its bigger brother, the SET50 and the its connected futures that I am analyzing today. So will SET continue to be wearing the leader jacket or will the close, it did on the resistance at 1450 act like a BIG stop sign?!
TFEX:S501!
by SamuiTrader