October 4, 2016

  • ES 4 hour chart shows price contraction. Breakout or breakdown from this pattern should takeout the Moving averages shown in daily time frame for bigger moves to follow.
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  • Weekly chart shows crucial support zone around 1300 levels. Gold bears need price to stay below 1300 for bigger correction to follow.
  • 4 Hour time frame is shown with 20 Period SMA. If price moves back and sustains above this line a Swing buy is possible in 4 hour time frame. For bears price need to stay below 1300 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