pennies to thousands nyse candidate in weak market basic materiastrong stock weak day
watch weekly cloud above see our book on importance of weekly cloud on amazon of same name
mad crossed
above 200 day ma
rsi strong
cci and percent r good
money flow strong
Basic
pennies to thousands basic materials hot groupcci and percent r upper range
close to breaking 200 day on daily get our book on amazon for selecting the right groups
relative strength strong
macd crossing
weekly cloud in 8 s
watch our u tube channel same name
fry pan bottom chart
EURUSD 15M - HOMEWORK 3 ORDERFLOW EXPECTATION1:1 HARMONIC EXPECTATION
CORRECTION REACHED - 38.2%
EXPECTED PROJECTION - 138.20%
MEET THE EXPECTATION!
EURUSD 15 - EXPECTATION TO MAKE NSLAFTER CREATING LH
I'M EXPECTING A NSL
PRICE BREAKING THE LH WILL FAIL MY EXPECTATION
Market ClarityEURUSD - LONG
If you take a step back and look at any currency pair on a greater timeframe you will have clarity on the overall market direction, and be able to identify key points of support/resistance based on historical price action, which logically are more respected as the volatility of the market is lesser.
Once you have identified these areas, proceed into the smaller timeframes like the Daily & 240 minute charts and dissect them further. Start to create a trading plan that confluences with historical price action and be confident that you are entering a trade with overall market clarity and confidence because in longevity, you will not beat the trend.
AKS Head and Shoulders Formation -- Basic MaterialsAks appears to be forming a head and shoulders or perhaps double top. The weekly RSI closed at 100 showing that this price is severly overinflated. I expect a pullback into 3.26, with support at 2.75, and then 2.50.
Some basic observations on the S&P 500At Friday's close, the S&P 500 was within kissing distance of it's ATH. The bounce from the 10% "correction" was so steep and sudden that I'm not sure if we can actually classify it as a correction. The Stoch RSI looks ready to plunge, the MACD looks like it's getting ready to follow suite, but not quite there yet. The RSI is confusing as it looks like it might be breaking out from its bearish trend. Trading at the top of its Bollinger band as well, which doesn't tend to happen for long.
Looking at much more advanced chartists here consulting things like historical trend lines and %>200MA of the S&P 500's constituent companies reinforces my view that there is more blood to come. It looks like we've had some aneurysms and I'm pretty sure the artery is about to burst. My only uncertainty is on account of how sudden and convincing this bounce back has been. Let's see how next week plays out.
