December 14, 2015

  • Daily testing 50% Fib level. Bulls if holds this level may give an intraday bounce back towards 2015 levels.
  • ES 4 hour chart shows price falling below recent swing low.
  • 15 Minutes chart shows Ichimoku cloud as immediate resistance. For a bounce to happen price need to move above the cloud.

  • Nifty managed to stay above its crucial swing low of 7539. Bears can become strong again only if 7539 gets breached. 
  • 30 Minutes chart shows bulls yet to gain strength as price continues to stay below the cloud
  • Hour chart shows price below the falling trend line from 7972 levels. Strength for bulls only if price is able to sustain above 7700 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