That is a good sign when the weekly, Daily and soon the hourly Time frames are all over sold and showing sell signals for a bearish reversal. Intermarket Relationships Support this as well, as does Time, Price, and Pattern. Look at the stochastic's on these time frames and there could be a ways to go to the down side.
Traders the market will soon show a direction. I have to wait and see it will not be long.I am use trading FX so I do ok with S&P(E-mini) but just getting acquainted with stocks. looking at daily and hourly data should give us an Idea.https://www.tradingview.com/x/IUxINUdv/
Traders just a chart of support and resistance areas using Fibonacci retracements and projections wherever you get a tight zone of fib. Calculation in the same area the price zone is more likely to hold or if it breaks through than expect the action to move until it hits another cluster of fib numbers. The retracement levels are the most important and the...
I have a short position in spy looking to see if an immediate rally will cintinue as we hit some key infliction points
Traders just thought I share some of my thought process when looking to adjust a trade or qualify a trade. I trade using Elliott wave and it works out great for "Swing Trading" Along with Fib. If anybody would like to comment I would appreciate it. And let me know how they would approach a trade in the currency market and why. I love new ideas. Thanks
This chart is just an example of the work that needs to be done b4 a trade. I took a short position on GRPN by buying a few put options, this chart should tell the story why... I Hope I help at least one person so they do not have to go through the huge learning curve I did. Any comments or suggestions are highly appreciated.
S&P is highly correlated with risk currencies and can give you clues or at least let you know when to stay on the sideline when they start to diverge. 10 year treasuries can also help filter your trades. Strong dollar=higher bond prices, higher bond prices= lower yields and the other way around as well. Strong dollar=lower commodity prices etc..Traders you should...