March 3, 2015

  • ES Trying to get back into the range after violating it for a while.
  • 4 Hour chart shows price testing the cloud. Bears need a close below the cloud to extend this correction
  • Bulls need to get back above 200 Hour SMA to regain strength.

  • Apple 30 Minutes chart shows a bearish Descending triangle pattern.
  • Price is positioned below Hourly cloud. Sustaining below the cloud will favour bears of apple in the short term.

  • Daily chart shows price stuck between 50% and Golden ratio for about 2 weeks now. This range mus be resolved for bigger moves to happen.
  • 100 Hour SMA in one hour time frame has given some easy trades recently.

  • EURUSD Month chart continues to give new lows. Pair if falls below 1.10 levels are likely to give 1.07 levels in the short term.
  • Weekly charts are getting ready for some positive divergence But more lows are likely before the MACD Positive divergence gets completed 
  • Daily is trending below the cloud. No reversal possible until price stays below the cloud. 
  • ES Chart update

  • Silver range discussed yesterday continues to keep price within its boundaries. Price tested the range bottom but bulls managed to stay within the range.
  • Weekly chart has a positive divergence But bulls not getting enough help from it. Daily is doing a falling wedge kind of pattern. If a positive breakout happens from this one the Weekly Divergence will look good.

  • ES 4 Hour and One hour chart shows price continues to move inside a range.
  • Price for now is staying above 4 hour cloud which will favour bulls.
  • If price breaks below the range then 4 hour cloud will also be broken. Bears need to keep price below the cloud for bigger falls to happen.

  • Death cross is Tata Steel Daily chart continues to be effective. Price sustaining below 50 Day SMA.
  • For now though price is falling towards a crucial support zone at 332. This is also near the Golden ratio shown in last chart. If these two levels are held a Bounce looks possible. Things may get worse for bulls if price closes below 332 levels.

  • ES one hour chart shows price continues to move within a Range.
  • 2nd chart shows bulls holding on to the 4 Hour cloud. If price sustains above the cloud new high's are possible.
  • Last chart also shows support at previous resistance zone.


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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