- US Dollar is trying pierce the cloud in four hour time frame.
- Breaking and closing above the cloud may give a rally for USD.
- Trend line in four hour chart has been resisting price movement for quite some time now.
- If price breakout above this line dollar will give an up move.
- Getting resisted on this line will be negative for US Dollar.
- CISCO TRYING TO CLOSE THE GAP
February 4, 2011
- CISCO is trying to close the GAP in its daily chart. Price will meet its 200 Day Moving Average soon so further up move will happen only if the stock manages to break above this average line.
- Price has closed above 50% Fib retrace level of its fall. So the next target is 22.46 which is the Golden Ratio. Closing above Golden ratio will be important for the momentum of bulls.
- Getting resisted near 200 DMA will favour bears.
- The spike shown below ends up as a false breakout.
- More weakness if trades below 1344
- Flag gives a spike in favour of bulls.
- Bull flag of Gold in 30 minutes chart.
- Breakout on the upside will help continue the rally started yesterday.
- Break below means pattern is invalid.
- GOLD TRIANGLE BREAKOUT
- ES Four hour chart with Broadening pattern.
- Price has hit the resistance line and is finding it tough to stay above the resistance line.
- Up move will continue only if price break above the resistance line and sustain above it. Staying below this line can trigger a correction.
- GOLD TRIANGLE BREAKOUT
- False breakout trade gave great profit for the bears.
- Today Nifty Futures gave a good entry after the breakout of the range failed.
- Failed breakout trades can give good profits if taken at the correct point.
- Today when the breakout failed price re-entered the range and gave a short entry.
- NF will be under pressure if it trades below 5517.
- Bank nifty is getting support near the golden ratio. But if this support level is taken out next support lies at 9700 level which is the 78.6% retrace level in weekly chart.
- Important levels to cross on the upside are 10700 and 11150.
- Third chart shows Bullish engulfing pattern in daily chart. These patterns are effective when they occur at the end of a down move.
- TRIANGLE BREAKOUT - GOLD
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