MarcPMarkets

MarcPMarkets Wizard

EURUSD: It is clear short term momentum is bearish. The 1.3300 level has been compromised and at the moment there is no sign of strength returning to this market. That is FOR THE MOMENT. Things change and I recognize price is now entering a broader support zone that is based on the 1.3100 historical support that dates back to October of 2013. As a day trader, I am...

MarcPMarkets Wizard

EURUSD: Immediate price action is range bound but this range is developing within a major support zone. This is an excellent place to look for swing trade long setups. Here's why: The trend on the broad time frame is still bullish which means it can reassert itself at any time even in the face of a range bound medium term and bearish short term trend. Just below...

MarcPMarkets Wizard

SPY is showing some signs of bullish price action around an important broader retracement area. If price can stabilize in this area, it will keep the broader bullish trend intact and new swing highs beyond 198.82 would be a reasonable expectation. I am looking for swing trade longs upon a pullback into the 189.81 - 190.51 area if validation occurs there or at the...

MarcPMarkets Wizard

I just wanted to post my observation of AAPL and how it was relatively strong to the SPY. This kind of intraday observation can be extremely helpful when considering the context of the market environment and factoring that information into your trading decisions. The SPY represents a broader market of stocks, If it is strong, generally stocks should be going...

MarcPMarkets Wizard

GBPUSD big picture is generally bullish. More recent price action shows some weakness. Price action is now nearing the first significant support level in week. Situations like this I view as a buying opportunity on a swing trade basis. This means if I can get a price validation, I will look to get long and hold on for a few days at least. This is a strong pair...

MarcPMarkets Wizard

EURUSD is at a very important level. Based on historical price patterns, the 1.3450 area is a major point in terms of this pair continuing it's bearish momentum or not. The major support zone between 1,3512 and 1.3450 area has been compromised BUT price is just hanging onto the lower part of the zone. If price can stabilize, meaning it spends the next day or so in...

MarcPMarkets Wizard

Do not be fooled by the hype. There is a lot of bearish sentiment on EURUSD. On the broader time horizon fundamentals may support a more bearish view, but the world is not the simple. From a technical view, there is a short term support area at the 1.3500 level area. Any retracement back into the major support zone of 1.3512 - 1.3460 area is where I will look for...

MarcPMarkets Wizard

Currently in a consolidation, TSLA still exhibits strength on the broader time frames. Upon a retracement into the 216 area or even lower into the 212 area. I will be looking for bullish reversal patterns, If they appear on an hour chart, that can imply a broader bullish move over the next week. It is hard to set a stop when there is no validation at the moment....

MarcPMarkets Wizard

APPL has been demonstrating strength for some time. From a purely technical standpoint I view recent weakness as as possible buying opportunity on a day trading basis. If price can retrace back to the 92.22 area, I will be looking for bullish validation and set targets in the 93.50 to 94 area for an intraday trade. If price only retraces to 93.40 area and price...

MarcPMarkets Wizard

I am watching AMZN for a potential day trade long. Waiting for my particular setup to validate, I have projected significant support between 315.12 and 319.90 area. This coincides with a 38.2% measurement of the broader price structure. Since my outlook is very short term, fundamentals are not something I consider for this type of trade. Since this trade has not...

MarcPMarkets Wizard

The GBPUSD pair continues to present signs of strength within the broader technical structure. As long as price can stay above the 1.5200 level, it remains bullish in my opinion. The intraday opportunity I am looking for is a retest of the 1.5420 to 1.5386 area. This is a potential bullish reversal zone. Within this price range I will be watching my 1 Hr time...

MarcPMarkets Wizard

AUDUSD possible day trade long opportunity. AUDUSD has been rangebound for a number of weeks now. On broader time frames this pair is still bearish, so this consolidation has a greater chance to breaking to new lows if pushed by a relevant catalyst. With that being said, I am most interest in taking swing trades at extreme prices which would be looking for...

MarcPMarkets Wizard

From a broader perspective this is a mixed market. Price is consolidating near a psychological resistance area of 1.3200 While coming off a higher low of 1.3160 area. Since that has been no fierce sell off yet, this can be taken as a sign of strength. The problem is it has not confirmed with a strong 4 Hr close above 1.3200. I am looking at this pair in two...

MarcPMarkets Wizard

Long Possibilities: I am watching the current retracement for movement back into the 1.3050 area or the 1.2980s area. Both price points are areas of interest that may attract buyers attention based on recent price activity. These levels represent supports where failed lows or bullish reversal patterns may emerge. The key is to validate the price action. I am...