August 24, 2015

  • ES weekly chart has fallen below the cloud But the smaller time frames are showing sharp reversals. If price stays below the weekly cloud then bears may resume after a pause or sideways move.

  • 200 SMA is broken by EURUSD Bulls but as price moves up it is approaching crucial resistance levels as discussed in chart 2 and 3. Bigger moves are not possible till the levels shown in day chart is broken 


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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