September 9, 2013

 
  • EURUSD 4 Hour chart shows resistance at cloud top
  • Price is also pausing at 50% Fib level and 100 period SMA.
 
  • ES 4 Hour chart shows price near the falling resistance line
  • Confluence of resistance with 200 Period SMA and recent Swing high at 1667 levels.
  • Presence of 50% retrace level will also make it tougher to do a breakout here.
  • APPLE Weekend update
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  • Weekly chart of IWM shows price in a strong up trend and price is testing the falling resistance line and 20 Week SMA. These two levels has acted as good support areas for entering longs.
  • Daily chart too is showing a MACD bullish cross. If price stays above the falling resistance line we may see an up move in IWM towards the recent high's.
  • APPLE Weekend update
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My Favourite Quote

"All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why the numerical formations and patterns recur on a constant basis."
—Jesse Livermore