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Eurostoxx50

ridethepig | Stoxx 50 into the elections and beyond📌 STOXX 50 The purpose of the operation here is a clean and simple 5-3-5 sequence to the downside which means the lows are still exposed to another flank attack from those accompanying bears. This is a very important few weeks and months for volatility and in a roundabout way we must take full advantage of this while it takes place. I don't consider the manoeuvre here to be any different from the elementary operation we took at the beginning of the year in European Equities as we are in the same complacent environment with covid escalating out of control. As we have discussed together before, the herd must always be wrong and recognising this and the misconception of the v-shapers can only lead to an eventual test of previous support. To the topside, invalidation will come via a closing breach of 3490/3500 as this is the level which is protected via its own barrier. Thanks as usual for keeping the feedback coming 👍 or 👎
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by ridethepig
7
Could Euro Stoxx and Bitcoin Signaling Warning?Well that was an eventful weekend. With less than 10 hours to go before the Bitcoin halving, the cryptocurrency markets are attempting a set up for a relief rally. In other news Federal Reserve Chairman Jerome Powell will speak on the current issues facing the U.S. economy later this Wednesday. Heading into this speech, it is difficult to bet against the market. I am conflicted though. There are warning signs. The Bitcoin and Euro Stoxx 50 charts could be providing hints. Relief into Halving? Over the weekend Bitcoin suffered a set back as it attempted a breakout above 10,0000. The weekly close will likely result on the rally officially ending. The proof : The weekly candle (not shown) ended in a doji reversal on spot exchanges and exhibited the highest volume since the March 16 weekly candle. Furthermore, the two month old bullish ascending trendline that supported that rally was finally breached (see daily chart below). Price can absolutely rally in the interim. A reason would be the ridiculous CME Gap that many traders have already pointed out. See the 4-hour Bitcoin Futures CME chart below. The picture on lower time frames is an absolutely mess unless you turn the noise off. Here I have the 1-hour line chart of Bitcoin. The king of crypto is exhibiting signing of an inverse head and shoulders pattern reversal. Given that the pattern is on lower time frames, I give it a lower probability in completing and/or reaching its measured target. Trade this pattern with caution, as the risk is still to the downside. Bitcoin is poised to rebound from whatever low it posts in the short term. So it is very difficult for me to be bearish on the short term. However, that being said I will continue to emphasize that Bitcoin could be in for a lengthly consolidation prior to making any new highs. BTFD and sell the rallies. Bias: BTFD . Europe Showing Sign of Weakness Above is the chart of the Euro Stoxx 50 (EU50), an index that is made up of the 50 largest and most liquid stock in the European zone. After a 50% rally off the March low, the EU50 has not been able to reclaim its high. Europe could be signaling a warning for stock market investors and traders that the high may be in. Its a chart to watch! Bias: Bearish. Stars Aligning for Rally to End Not calling any top here, but I do think it is time to rethink the upside on the tech driven rally. With Bitcoin and now Europe exhibiting weakness, the warning signs are there that the rally is nearing an end. Until then, I'll be playing the relief rallies and promising set ups. Happy trading and talk to you all soon!
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by DailyClose
A strong volume explosion showing a potential bearish big move!As you can see in the chart, the Eurostoxx50 showed a big volume explosion indicating an intention to move down yet there is no confirmation unless it breaks the support area at 3171. I showed a consolidation area in the rectangle and what made me assume a soon bearish move is the breaking of the rectangle. On the other hand, if the market changes direction and breaks the resistance area at 3217, we will see a strong bullish move taking the market to a higher price.
EUREX:FESX1!Short
by YMtradingsystem
ridethepig | Stoxx 50📌 Eurostoxx 50 is in question here and we have a good illustration of the ABC outpost. The main target 3,489 is still open for a test but a breakdown here will seal it for the year. In a nutshell, this is a chart speculating that we are in the very early days of the "C" leg down. It is the same opening move in play for German Equities, DAX: This leg down in European Equities will be considered painful for the late buyers; the weakness of the real economy is shown via the following charts. Unemployment Claims: US 2's 5's: Sharp speculators are adopting a wait-and-see policy, the fate of the moves in Eurostoxx depends on the range settlement. Sellers breaking through 3,200 will 'protect' the highs and because of the technical damage done, the flows will finally commit towards +/- 2,475. As usual...thanks for keeping the feedback coming 👍 or 👎
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by ridethepig
1
Markets Across the world are ready to push like never before.Looking at charts from across the globe we found a very similar setup, triangle formations that are forming across the board in a timely manner. If we look deeper into what is going on we are going to get a pretty nice surprise. Let's start of with the Nikkei. The Nikkei has been on a consolidation pattern since the start of June and has just resolved within a clear break around it exactly one month after. This paired with global optimism that a second wave has been avoided in Asia thanks to great control sounds the bull bell, we might still see a deeper correction that could signal a potential long term buying opportunity. If we see the price of the Nikkei Holding above 22600 we could be up for a move towards 24k in the rest of the year. Exactly the same is going on across the board. Let's check Europe for an instance: For instance, the DAX is doing exactly the same being in a triangle consolidation pattern since the 3rd of June that has now broken above and is showing strength if it holds above 12.600. if things start to look clearer from here we might be looking at a potential move towards previous all-time-highs. Coincidence? Not really. Not confident enough? let's get to the juicy part, let's try and dig deeper into the abyss and look at what is going on in the US Markets. after all, EEUU markets drive most of the money flows right? A quick glance at the S&P500 might give you the chills. Why? Well, the market is exactly doing the same, but wait there is more to come, we are just getting started. Looks pretty familiar right? well, I can't say I didn't warn you. Global Markets took a hit and it hurt, but recovery is around the corner. Central banks are doing almost everything they can, Governments are supporting people like never before. and let's face it. A second wave is something bad but we are going to live with COVID-19 for a long time, we might just make it a profitable one. Not buying it yet? well, let's look at something even more interesting... What about the Dow Jones? is it anything closer to this? I mean what sector can be worst off in a pandemic right? Well, that's pretty much a very compelling view of global markets. However let's not take a pause and bring the big guns, as I said, we might as well just save the best for the end. Because it is yet to come. The dollar is breaking lower and this is just the cherry on top, we might as well just close here but not everything needs to be technical. Fundamentals are coming in stronger in the last few weeks, rates are lower than ever and the sentiment for the virus is shifting towards more "lets live with it and make the most of it" than rather being scared and locked down at home.
OANDA:JP225USDLong
by afcapitaltrading