November 6, 2014



  • EURUSD Daily chart continues to show weakness near the cloud.
  • Hour chart shows  a descending triangle breakdown. If price remains below this pattern further correction is possible. Strength only if price closes back above this pattern.


  • ES One hour chart shows price testing the cloud and 100 Hour SMA again.
  • Daily chart shows price testing the recent High's. Its likely that price may remain in a range for sometime before making a big move from here.




 
  • Reliance power has given a bearish engulfing at 200 Day SMA
  • For bulls of this stock price need to stay above 50 Day SMA.
  • Week if confirms a bearish candle below 20 week sma, stock may fall towards 69 levels again. Hope for bulls only above 200 Day SMA. 
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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