priceactiontds

priceactiontds

Good Evening and I hope you are well. tl;dr Indexes - Big bear day on most indexes but they did not accomplish enough to flip the markets to always-in-short. I do think the odds of a bullish reversal into the weekend are much greater than continued selling. Many markets are at perfect support and buying this is a no-brainer for many bulls. We still have bullish...

priceactiontds

Good Evening and I hope you are well. tl;dr Bitcoin - Bears did good but need a daily close below 65000 to confirm the bull trap. Right now it’s a tough spot to trade since daily 20ema was support and bears need to keep it below 68000. Probably best to sit on hands and wait for a breakout of this range. Still think bears are slightly favored to break below and...

priceactiontds

Good Evening and I hope you are well. tl;dr Indexes - Sideways again. No deeper meaning to it. Nasdaq has not touched the daily 20ema over the last days but is creeping higher again. Lows are bought so it’s reasonable to expect bears to give up unless something unexpected happens (e.g. very bad earnings but the probability is very low). Bull wedge has not a lot...

priceactiontds

Good Evening and I hope you are well. tl;dr Oil - Bull surprise and the actual breakout above both the daily 20ema and the bear trend line. Bear gap to 72.6 is not yet closed but with good follow through tomorrow they could get it. I do think longs are much better here than shorts and we could finally disappoint bears again. Could retest the bear trend line...

priceactiontds

Good Evening and I hope you are well. tl;dr Indexes - Sideways movement with some lower lows but closes were mostly weak. Neutral going into tomorrow, since both sides can get the breakout. Market is still controlled by bulls until we close below the daily 20ema and those are far away. dax futures comment: Look at the daily or 4h chart, cause the lower time...

priceactiontds

Good Evening and I hope you are well. tl;dr Oil - Trading range 68 - 70.6 continues. Neutral as it gets in between. Don’t over analyse this range. comment : Bulls fighting for 70 and there is a chance this today was a lower low major trend reversal and we go up from here. Validation is only a daily close above 71, so don’t be early like me last week....

priceactiontds

Good Evening and I hope you are well. tl;dr wti crude oil: Bulls nowhere to be found. We are near the minor bull trend line starting from the September low below 64 and it is more likely that this trend line holds and we do not go below the October low 65.74. Can you long this based on that assumption? I would not. Wait for bigger buying pressure and break of...

priceactiontds

Good Evening and I hope you are well. tl;dr gold: 4 consecutive good bull bars last week and we are on our way to 2800. I have two trend lines pointing to at least 2760, so the last thing I want to be here is bearish. Clearly W5 of this rally and we will likely see bigger profit taking into year end or early next year. Quote from last week: comment: Longer...

priceactiontds

Good Evening and I hope you are well. tl;dr sp500: 4 different upper bull trend lines for multiple wedges and all are kinda valid. You just never know which one will be most respected by the algo’s. 6000 is the target, much more likely we get there before a bigger correction. Don’t try to be the first bear on this. Quote from last week: comment: Two decent...

priceactiontds

Good Evening and I hope you are well. tl;dr dax: We are in W5 and no idea how high it will go. 20000 is the obvious choice and only 300 points higher on xetra. Until we hit that level, it’s hard to get bearish. The bull channel is also perfectly leading up to that price and who tf am I to deny technical patterns eh. Only longs for me are on strong momentum and...

priceactiontds

Good Evening and I hope you are well. tl;dr Indexes - Bullish spikes on all of them but markets closed mixed. All closed with a big tail above and we are where we closed yesterday. Near but still above the daily 20ema, near bull trend lines but also with bulls not strong enough to get a big breakout above with follow through. Most of the current patterns are in...

priceactiontds

Good Evening and I hope you are well. tl;dr Indexes - Bullish spikes on all of them but markets closed mixed. All closed with a big tail above and we are where we closed yesterday. Near but still above the daily 20ema, near bull trend lines but also with bulls not strong enough to get a big breakout above with follow through. Most of the current patterns are in...

priceactiontds

Good Evening and I hope you are well. tl;dr Gold - Bulls got the breakout above and got rejected at 2700 again. I think we will spend a bit more time at the highs until bulls give up or we find more buyers willing to buy above 2700. Right now I still favor the bulls for continuation but only willing to buy on strong momentum. comment : Retest 2700 is done,...

priceactiontds

Good Evening and I hope you are well. tl;dr Indexes - Bears hoped for a second leg down and build decent selling pressure but bulls bought the dip. Nothing unexpected and we likely continue sideways at the highs until bears give up again or more bulls get exhausted and want to secure profits. Technically I expect another leg down but we could retest the highs...

priceactiontds

Good Evening and I hope you are well. tl;dr Bitcoin - Bulls got follow through and are at my bullish target where I expect a reversal. The July high should hold and we are at the top of the bull wedge, touched the big bear trend line from ath and saw some decent selling above 67000. Swing short for me 66803, sl 70170. comment: Clear 3 legs up for the bulls....

priceactiontds

Good Evening and I hope you are well. dax futures comment: A daily bear bar closing on it’s low. What a time to be alive. Kinda in the middle of the channel now, which is a bad bad place to trade. Both sides have valid arguments. I would rather sit on hands and only scalp on momentum than initiate trades around 19600. current market cycle: bull trend key...

priceactiontds

Good Evening and I hope you are well. tl;dr Indexes - In my weekly post yesterday I wrote “max bullish” a couple of times and I hope you did not short this today. Bulls are in absolute control and they have no reason to stop buying every small dip. You can not be a bear on the hope that this madness will stop eventually. It can go much further than you can...

priceactiontds

Good Evening and I hope you are well. tl;dr Indexes - In my weekly post yesterday I wrote “max bullish” a couple of times and I hope you did not short this today. Bulls are in absolute control and they have no reason to stop buying every small dip. You can not be a bear on the hope that this madness will stop eventually. It can go much further than you can...