April 17, 2015

  • ES 4 Hour shows price falling to the middle of the range.
  • ES Range is unlikely to resolve soon. Range bound move likely to continue.
  • EURUSD Chart analysis

  • EURUSD at crucial resistance levels.
  • Hour chart is trading above the cloud. Weakness only if price falls below the hourly cloud.

  • ES shows some weakness at resistance levels, But for bears price need to stay below 200 Hour SMA as shown in second chart.

  • Price testing 200 Day SMA
  • Bulls pausing at 940 - 945 zone which was the last major swing high. As the last chart shows this swing high must be crossed to start showing Higher High's and Lows.
  • So more bullishness on closing above 200 SMA.
  • NIFTY Chart analysis

  • Price testing 50 day sma. Not a convincing break of 50 SMA yet.
  • Took support at 20 day sma and 38.2% fib level
  • Daily MACD is looking good for bears. But needs price to stay below 8645 levels


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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