April 9, 2015

  • ES is ranging in most of the time frames.
  • Hourly range must resolve for the next bigger move to happen.
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  • EURUSD Weakness continues at 50 Day SMA.
  • 4 Hour chart shows bearish price action.
  • One hour chart is trending down below the cloud.
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  • Apple testing 50 day SMA. Weakness only if price starts to trade below 50 Day SMA.
  • 2nd chart shows price moving sideways in daily time frame
  • Weekly chart shows the primary trend is still in force. This will weaken only if stock moves below 121 levels.


 
  • Gold 4 Hour chart at the apex of triangle pattern. Price is testing the rising support line.
  • Daily chart continues to show weakness from 200 SMA and 50% Fib level.
  • 1180 levels are crucial. Closing below this level will further weaken gold bulls. Bulls need a close above 200 SMA to extend the bounce in daily chart.


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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