
EURUSD crossed and closed today under the MA50 (4h) for the first time since November 1st. That is a medium term sell signal as the former Support now turned into Resistance. On the long term the Bullish Megaphone pattern has a considerable downside gap to fill should key Support levels break. Trading Plan: 1. Sell on the first minor bounce near the MA50...
Nasdaq is testing the MA50 (4h) since yesterday as the Rising Resistance weighs. The middle line (dashed) of the Channel Up is the final level of Support before a short term pull back. The Bearish Divergence on the RSI (4h), which is inside a Channel Down, is in favor of this short term pull back. Trading Plan: 1. Sell if the price crosses under the dashed middle...
The S&P500 has been rising non-stop since the October 27th Low when the Bearish Megaphone bottomed and the long term Channel Up started the new Higher High leg. The rally crossed over the top of the Bearish Megaphone and has already reached the 0.618 Fibonacci retracement level of the Channel Up. The same sequence can bee seen at the end of last year (September -...
The U.S. Dollar Index has been declining since the October 3rd High and is now under the MA200 (1d). The RSI (1d) is nearly oversold and is double bottoming on the 30.00 level, while the price is approaching the 0.618 Fibonacci level of the July 14th bottom. That will be a -4.50% decline, comparable to all three major decline of 2023: -4.55%, -4.85% and...
DAX extended its almost 1 month rise and is about to hit Resistance (1) at 16065. We've had two rejections there in August. Over this Resistance lies the 0.786 Fibonacci retracement level, a key technical Resistance during recovery rallies. Besides those obvious bearish bias, the current rally can be compared to the pattern from March 7th to May 19th, which ended...
WTI Oil is trading inside a Channel Down since the September 27th High. The price is now forming the Right Shoulder of a minor Inverse Head and Shoulders pattern that bottomed on the Lower Lows trend line of the Channel Down. This is formation technically aims at pricing the new Lower High at the top of the Channel Down. Trading Plan: 1. Buy the moment a (4h)...
Gold is trading inside a short term Channel Up on the 4H time frame and today made a Higher High. This is a technical sell signal, considering also the fact that Resistance (1) from the October 27th High is just over it at 2009.55. Trading Plan: 1. Sell on the current market price. 2. Sell again if it closes a (4h) candle under the MA50 (4h). Targets: 1. 1983...
EURUSD reached and is getting rejected at the top of Bullish Megaphone pattern. Technically every rejection inside this pattern has seen at least a 0.382 Fibonacci retracement. Trading Plan: 1. Sell on the current market price. 2. Buy either on the MA50 (4h) or after a -1.35% decline is completed. Targets: 1. 1.07980 (the 0.382 Fibonacci retracement level). 2....
Tesla crossed today over the Falling Resistance of the Bearish Megaphone. This is a strong bullish break out for the short term, especially as long as the MA50 (1h) holds. The Bearish Megaphone may transition to a Channel Up, so this is a buy opportunity. Trading Plan: 1. Buy on the current market price. Targets: 1. 240 (+16.77% rise like the first bullish leg...
Gold is trading inside a Channel Down, under the MA50 (4h). The price recovered today as it made a Lower Low on the Channel's bottom after the RSI gave a Bullish Divergence and the MACD eventually formed a Bullish Cross. Trading Plan: 1. Sell as long as the price closes under the Resistance level and the MA50 (4h). Targets: 1. 1935 (Support 2). Tips: 1. The RSI...
EURUSD is trading inside a Channel Up for a little more than a month and currently is on a rejection pull back on its top. Technically the pull back legs inside this pattern have been at least -1.35%. Such a pull back will test the MA50 (1d) as Support for the first time since August 11th. Trading Plan: 1. Buy on the MA50 (1d). 2. Sell if a (1d) candle closes...
Dow Jones is on course to form a Golden Cross on the (4h) time frame within 2 days. Despite being bullish medium term, this pattern has caused a minor short term pull back all the prior 3 times it emerged in 2023. Trading Plan: 1. Sell on the current market price. Targets: 1. 33750 (-1.20% decline, same with all previous cases). Tips: 1. The RSI (4h) got...
Gold has taken a pause on October's enormous rise that was backed by the geopolitical tension in Israel, and formed a Bullish Flag pattern. The whole pattern from October's low until now looks very much like March 2023. A Bullish Megaphone with Higher Lows to buy and Higher Highs to sell, led the market to the eventual 2080 peak. Trading Plan: 1. Sell as long as...
WTI Crude Oil has been declining rather sharply since September 28th and today's green (1d) candle should give way to a new low tomorrow. Based on the (1d) RSI sequence, this fall resembles the fractals of November 2022 and April-May 2023. Both rebounded to the 0.5 Fibonacci level after pricing their respective bottoms. Trading Plan: 1. Sell on the current market...
Nasdaq is posting the 3rd bullish leg inside the Channel Down pattern on the 1D time frame. It is about to hit the MA50 (1d), above which all prior Lower Highs have been priced near the 0.786 Fibonacci level. The medium term trend remains bearish until this level gets broken. Trading Plan: 1. Sell on the current market price. 2. Buy if the price crosses over the...
EURUSD crossed today under the short term Channel Up pattern but for now it appears that it will close the day back inside it. As long as it does, the trend is neutral. It needs a (1d) candle closing over the MA50 (1d) to turn bullish and under the bottom of the Channel Up in order to turn bearish. Trading Plan: 1. Buy after a (1d) candle closes over the MA50...
The S&P500 index reached on Friday the bottom of the 3 month Channel Down and today's big (1d) green candles shows us that the Lower Low is most likely priced. Technically this is the most ideal buy entry for a rise towards the top of the pattern. Every top/ Lower High reached at least the 0.618 Fibonacci retracement level. Trading Plan: 1. Buy on the current...
Gold is trading on a Rising Megaphone inside a Channel Up, both powerful bullish patterns. All 3 Lows prior have been priced under the MA50 (1h) and on the Rising Support. The MA200 (1h) has been supporting all the way back since the October 8th breakout due to the war. Trading Plan: 1. Buy when the price crosses under the MA50 (1h). 2. Sell if it crosses under...