As we thought, the retest and breakout of 12 592 really happened. Since the open, the price took an upward momentum and broke the S/R level for a short period of time. Bears stepped in and corrected the morning push back to 12 494 and proved the significance of both zones. The session was very interesting and the false breakouts could have caused troubles to some...
Yesterday's session hasn't turned out exactly according to our expectations. Although Dax descended lower to retest our Support zone at 12 592 as we predicted, the price continued lower instead of reversing to the upside. Dax very precisely respected Friday's VPOC in correlation with the Support level at 12 494 and held further sell-offs.
Important zones...
Yesterday's session started optimistically and at one moment, it looked like buyers head straight towards 12 882. But as we know, appearances are deceptive. Sellers stepped in to suppress the bullish attempts and dominated the rest of the session. Bearish traders took the price lower to retest Friday's high, yet failed to close the weekend gap.
Important zones...
On Friday, we anticipated that Dax will remain in its consolidation range above 12 151, however, sellers found enough strength to break below this zone, keeping the price suppressed. Not only the session was closed at its daily low but the significant volume of orders moved lower as well and this signifies the sellers' dominance.
Important zones
Resistance: 12...
The last session of the past week turned out well for sellers. They managed to get down to a support level at 12 151 where we saw a slight correction before Dax broke to the downside and closed the week lower at 12 112.
Important zones
Resistance: 12 151
Support: 11 829
Statistics for today
Detailed statistics in the Statistical Application
...
Thursday's session was quite interesting. We anticipated that Dax was likely to trade in its range and the resistance at 12 494 really served to just reject the upward price move. It is apparent this S/R zone is valid and those who had limit orders around this level can pride themselves with nice profits. Dax then moved to the middle of the range and we start...
Yesterday's session started well in line with the auction market theory. The price first dropped to retest our support at 12 151 and bounced back up to continue higher, even above the open. Buyers lost momentum mid-day and Dax dropped sharply to retest the same support once again. The session then closed nearly break even.
Important zones
Resistance: 12...
The only thing certain on Friday were our S/R zones. Have a look at how our resistance at 12 151 functioned perfectly. Dax went to retest this level also as it was the VPOC of previous session and the price exemplarily bounced away to offer enough opportunities for profitable trades. Besides this, the session hasn't really presented us with any more interesting...
A couple of times already, we mentioned that a correction is inevitable. That's exactly what we saw yesterday and our uptrend continuation bias along with the statistical probability of breaking previous day's High hadn't happened. Dax reacted with the sell-off right after the open and in correlation with the risk-off sentiment across the board. The downfall was...
Yesterday's price action has, again, brought great profiting opportunities and Dax added another day to its bullish uptrend, even though the daily range was relatively standard. Right with the open of the European session, the price retested VPOC from Friday and continued consistently towards our resistance of 12 882 where it exemplarily bounced back lower and we...
Description:
Things I'm thinking about tonight.
Points of Interest:
Massive gap, trendline break, location between 20 and 50 moving averages on daily chart (), untested POCs.
Technical:
Poor structure (untested POCs) beneath Sunday's overnight. We had a week of balancing and Friday left a poor low.
Fundamental:
Fed really supportive;...
Look for a break under this line to short or confirmation of strong support. A break would be accompanied most likely with strong volume as the line shows the volume point of control (vpoc) area found with big volumes circled below.
Looking bearish and long term graph still overextended after The insane rally bringing it to 440 level.
Scalpers could make good...
Hey Traders,
As you can see Bitcoin did not quite break 12k today. A possible reason for this is because the 2nd largest amount of volume in Bitcoin was traded at 11.6K according to the Volume Profile. It is going to be hard to breakout of this level and we will need additional bull volume.
On a positive note, I don't expect bitcoin to go much lower unless...
Continues upshift of the Volume Point of Control (VPOC) is signalising the acceptance of higher prices. If the current flag pattern upshifts the VPOC again it would mean the market likes the higher prices and it's time to move on to new highs testing the levels at 324$ and higher. If we break out to the lover wide the stop of this long trade would be at 290$ and 280$.
2/13/2017 - GLD Cup and Handle Pattern on a Recent Point of Control. Long with Target 1 of 12.50 (just after the next area of acceptance/high volume).stop at 114.50
