January 16, 2014

  • EURUSD Daily chart shows price testing the rising trend line.
  • Weekly chart shows Price at middle bollinger band.
  • Month chart shows price at falling resistance line and Overbought stochastic indicator. Bears of EURUSD Need a Bearish Monthly candle to confirm this bearish view.

  • Twitter daily chart is nearing the falling resistance line and 20 Day SMA. Bulls need a close above these levels in daily time frame for bigger up move to happen.
  • Getting resisted at the resistance line may confirm a bearish pattern in daily chart.
  • Bank nifty near the falling resistance line and 50 Day SMA. Price must do a daily close above these two levels for extending this bounce.
  • Hour chart also shows price near crucial levels like 50 and 61.8% Fib levels which must be crossed to extend the bounce in Hour chart.

  • Weekly chart moving up from 100 Week SMA. 
  • Week is trying to stay above the Weekly Ichimoku cloud. For this 100 Week SMA is crucial support. Sustaining above 100 Week SMA price is likely to extend the up trend.
  • Current move is likely to take price towards the Golden ratio, Swing high and Upper bollinger band.


  • Ford daily chart shows price trading above the falling resistance line and 50 Day SMA. Daily close near the High of the candle will strengthen bulls to extend this up move.
  • Immediate resistance levels in daily chart is the cloud and Golden ratio. Price is likely to test these levels. One has to see the price action on the daily cloud for signs of weakness. 


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"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