April 11, 2015

  • Price contraction and sideways move continues in Apple.
  • Weekly chart suggests that the contraction is likely to result in an upper breakout. so far it has happened like that, Weakness only if price closes week below 121.3 levels.

  • EURUSD Continues to struggle as it nears the daily cloud. 
  • 4 Hour chart shown with crucial support zone. If not held bigger falls are likely
  • One hour chart is trending below the cloud. Staying below the cloud price will test the support zone shown in 4 Hour chart.

  • Nifty bulls staying above 50 SMA will favor bulls to extend this up move.
  • Bears have hope in Golden ratio.
  • Indicators like RSI are yet to reach overbought status. So stay with the daily trend until it shows weakness. Moving back below 50 SMA will be the first signs of weakness.


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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