March 16, 2015

  • Netflix weekly chart shows price getting resisted at range top and is falling towards the GAP in daily chart.
  • Bears of NFLX Need a daily close below 50 Day SMA today which will take the stock towards the GAP Shown in last chart.
  • First chart shows ES 4 hour time frame with immediate support and resistance levels.
  • Price staying below the 4 hour cloud will continue to favour bears.

  • EURUSD Month chart shows the steep fall of the pair from a Topping pattern.
  • Next target for the correction could be at 1.02 and 0.96 levels.
  • Daily chart continues to trend down below the cloud. For a possible bounce to happen price must move above the cloud.

  • Crude oil testing range support zone.
  • Bulls of crude oil needs to keep prices with the range to avoid bigger falls.
  • One hour cloud is crucial here. If price holds the current lows and move above the cloud a bounce is likely to happen. But for now price is trending down below the hourly cloud.


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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