May 10, 2014

  • Apple daily chart shows price trying to take support at 23.6% Fib level.
  • Weekly chart shows price trying to stay above the Golden ratio and previous resistance level at 575
  • Positive again on moving above 604 which can target 625 levels which is the Monthly upper bollinger band.

  • SPY Daily chart shows price converging towards the apex of a triangle pattern. Looks like an ascending triangle which is mostly bullish.
  • Price has support at 20 and 50 Day SMA. Price needs to close below these levels on closing basis for bigger moves to happen.
  • Weekly chart shows the up trend continues without 

  • EURUSD Moving towards 200 Day SMA.
  • Price is getting resisted at the Golden ratio.
  • Immediate support at 20 Week SMA. Closing this level will extend the fall for EURUSD.


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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