Planning on letting it give us indication on price action in the Demand zone and ride the wave up
Wait for confirmation, we will retest the above resistance and thats where entries should be taken, dont trade big, we are trading back in our usual structure and channel now.
Symetrical triangle formed, continues to make higher lows, enter on support on blue dotted lines
I Believe NAS is going to fall first creating a lower low, we broke ascending channel this morning, institutional bankers will be looking to short before we make a new HH, Cornona virus is still very much in play, WHO has stepped in to send experts to China to evaluate the epidemic further, buying at this level is just not worth the risk to reward...
Left shoulder, Head and half of the right shoulder is currently formed, we are in a good area for a short!
I expect us to retest and re test the demand area which we tested friday evening, possible long and break back in the channels.
Possible short for the New York Session
Everyone likes to get down on friday. Enjoy guys
Good day traders, As you know we are currently in a steep downtrend, we have dropped 3470 pips from friday, we saw a massive rejection from the 8917 region during the NY session, market corrected and we continue to see further momentum from sellers, market consolidated and ranged between two zones the entire day, i believe we will see a moderate pull back to...
Good day fellow traders, After predicting the major short from the 9270 region, it fell even lower than predicted, the current market is driven by greed since the 13th December stock rally, we saw a slight decline due to the killing of Iranian general, but a instant pull back by buyers trying to take advantage of a potential long opportunity, while all is well,...
The long awaited drop finally came into play last night, after a long day of a choppy market and trading side ways, we have finally gone bak to test the major support on 916X Region, which has faired pretty well. Confluences taken into consideration 1) EMA Currently above current market price. 2) Shooting Star on daily time frame. 3) Multiple Trend lines...
We can see NAS has made a new high, it will continue to do so right before 9300, I will be looking to short from the top into the 924X TP 1 Region, wait on the retest and see movement from there possibly downwards to retest at 9200. I will look to make an entry for a long position Please comment your thoughts and share your ideas