GC is moving in direction of my trade. I will take at least half profit at where my target zone is. I have tightening my stop to my entry now. So this now be like a free trade. Yellow line channel being followed nicely. The bottom yellow line is weaker support then upper yellow line give resistance. Also pivot at target is weak. These 2 confluent things mean GC...
looking like a long leaning day, but could top range chop also.
Will remain bullish to as low of 3874, a nice bounce area.
Will look to see f an opening impulsive move provide a decent spot top jump on board.
Rather bullish now that the tech selloff is over.
Looks to me like it wants the upper channel line again, not sure if it does an ABC move which means down tomorrow or just heads straight there.
AAPL looked weak AF, so I switched to GM calls today. Was supposed to stay out but I guess I'm an addict, lol.
Text book charts.
Currency markets are pointing the other direction, this is a big bull trap!
Look at the GBPUSD daily candle and all time.
UJ up as well.
DXY holding up well.
One of these markets is lying, which one is it?
Higher lows on the price action, lower lows on the RSI. Volatility is building up pressure. Notice how we closed on the bottom of that ascending triangle at the bottom of the bull flag. Not buying yet. LONG volatility. SHORT market.
I have decided to take position in Gold (GC).
Reasons:
- following nicely down channel (Yellow lines)
- Indexes are running hot!!
- top yellow trendline show very good resistant properties. Down channel show okay support, not great. this means well that it could continue below this support.
- 0.50 fib is show resistance and 0.50 is important fib line.
- decent...
Overnight tested both sides before testing prior days top
of range.
overnight also was complacent with higher prices of
session.
This leaves me looking long but aware it could be a choppy session after the massive
lift yesterday.
will play off 3862 and 3897 and look for breaks as doing so.
Also have marked targets above and below this range in the event we break out.
Hopefully everyone made some money on my last sp500 predictions. There may be another opportunity wed, thurs, fri.
It appears as though we may have an opportunity to short the bounce again going into today (wed).
I have done a forecast on the price. Lets see if this plays out, don't load up, stair step into the trade.
ES was supposed to crash last week after it broke down out of its rising wedge, but they managed to juice it so much that it got back into the rising wedge it broke out of.
This time around, the selling will not abate until 3347.
The SP500 is dropping as predicted in my last analysis. We may get a bounce here which would offer up another entry down to the 380's.
This movement down to the 3800 should happen this week but at the latest by next week. If price does bounce from here I will enter a short position with expiration this friday and next friday (options).
Looks to me like MFI wants to hit oversold again then bounce, highlighted similar scenarios.
So more than likely a gap down Monday, followed by a reversal and pump on Tuesday as usual. regardless of what happens Monday, I'm expecting the usual Tuesday pump, lol.
Setups that looked beautiful on Tues/Wed were pretty much broken by Thur. We usually see this happen right before a major pullback in the market (5-10%). We got a fake breakout on the SPY as it gapped up this AM. Sellers took control quickly and as I write this the market is retesting the flag it's been inside of the past week.
The VIX is printing a positive...
Despite the really bearish technicals on both S&P and Russel 2000 as well as many considering those indexes highly overvalued — there more than 1T sitting in Treasury being ready to go into the financial economy.
We can assume that support lines will hold the bearish pressure to some extent.
As well we can assume that the 2020 asset crisis will not repeat due to...
