Looking at the previous patterns and seeing VYM has bounced off the 200 EMA on multiple occasions, I am going to be looking out for another move to the upside pushing around that 137 level.
Based on the history I am going to be looking out to see if spy makes its way back down to around the 555 area in the near future.
Looking like spy is going to try to push back to 582 today, I’m keeping an eye on that level and I’m gonna look for the price action either up or down.
Going to watch that 565 area for some resistance ideally then hopefully a retest after that, eventually breaking through 565 for a decent profit.
This is my analysis on GBPUSD on the 15 min chart. Using EMA 200, Parabolic SAR and the RSI we can see some trends starting to form. You can see starting on September 28th GBPUSD went down over 300 pips within 2 days. Since then, the stock has now risen nearly 200 pips and I think that it will rise another 100 pips more. So i placed a buy at 1.36010 and a take...