NCHammer

NCHammer

6A June looks like an inverse head and shoulders forming with the neckline nicely positioned. I would be watching for a break this week and I would be buying the retest of the most recent high prior to the breakout. It needs to break with some strength. I always watch for a fake break which might stitch up some bullishly biased traders. Target would be the highs...

NCHammer

ES is nicely balanced at an important support/resistance area now. It has tested the zone marked 3 times in the last few weeks, and a break upwards through this area, sets the scene for a nice long on a retest of this zone. I would be expecting action as marked on the chart. This would trap a lot of bearish traders who have been calling this rally a dead cat...

02:42

NCHammer

My thoughts on the current price action in ES

NCHammer

ES is now currently testing price that was previous support way back in May 2019. This is a critical area I would think. If price was to break down through here, I would expect it to retest the resistance/support achieved last week around 2635. Alternatively, price can find support here at around 2730 and continue upwards. As of today's open, we can see a bearish...

05:25

NCHammer

Why I think a recent trade I took in gold failed and a short discussion on my thoughts on trading hammer candle stick patterns

NCHammer

ES has possibly completed a 0.382 correction from its recent impulsive wave up. Significant level on the hourly chart at 2523. If price can break through, I will be looking to buy at a retest of this level

NCHammer

Gold has now completed the 50% corrective wave, and the MACD and MA's on the 4 hourly chart have turned bullish. I am looking to buy now on a retracement. First area for a retracement are the MA's currently around the 1620 area. I always try and buy below the market and sell above, so I have a limit order to buy at 1620

NCHammer

ES has retraced nearly 50% of its impulse wave. This sets it up for a short once the MA's and MACD turn bearish. Will be watching next week to see price action. I am still not quite bearish yet as the momentum has been so strong to the upside this past week. I am sure there re many traders wanting to short, but as we know, the market tends to punish the crowd. I...

NCHammer

ES has corrected 50% from the impulse wave down. Looking to short if the MA's and MACD turn bearish

NCHammer

I am thinking how to trade the eventual turnaround in the ES and looking back at 2018, would be our closest example. I would wait for a bounce, and wait for the MACD and MA's on the 4 hourly chart to turn back bullish. Then wait for a break above a resistance level and trade a small flag or wedge breakout long.

NCHammer

Waiting to see if there is a bullish cross of the MAs a successful retest. 0.382 fib retracement complete

NCHammer

CAD futures has completed a 382 pullback from its impulse wave. Looking at the 4 hour chart now for a long once a more bullish picture emerges

NCHammer

Yen futures has completed a 0.382 pullback from it's recent impulse wave. Will be looking to go long once the EMAs and MACD are bullish on the 4 hourly chart

NCHammer Updated 

RTY is now approaching the 0.382 fib level corrective wave from the 3rd December to 27th December impulse wave. Will be watching the price action at this level to the 0.50 level to see if a long trade can be executed here.

NCHammer Updated 

It appears that the yen has completed a 50% correction of the previous impulse down move. I am waiting for a breakdown through current support levels so that the MA's and MACD will turn bearish and then place a short order at this support turned resistance level.

NCHammer

6E has completed a >50% correction from its previous swing low and one would expect a impulsive wave to the upside to follow this corrective wave. Entry will be on the 4 hourly chart, when the EMA's and the MACD have turned bullish, and then retests a previous resistance turned support level. Always be buying below the market.

NCHammer

As the chart shows, pound futures have retraced 0.382 on the weeky chart. I am looking to see what price action will do here n the 4 hourly but would like to go long if the price can start to show some bullish momentum. Initial target would be the 1.3860 area