- Daily chart shows Alphabet reacting from Daily resistance zone.
- A Down swing can only happen if price sustains below the Hourly cloud.
- Weakness on hour and day on Google closing below 975 levels. Staying below 975 price may target 950 and 935 levels. Bulls need to keep price above the Hourly cloud to avoid this scenario.
July 25, 2017
July 24, 2017
July 21, 2017
July 20, 2017
- Staying above 2450 levels will continue to favour bulls of ES. Price likely to hit 2500 before it moves below 2450 level.
- Hour chart shows support at rising Ichimoku cloud. Things may turn in favour of bears only if price starts to stay below Hourly cloud. So Hourly cloud crucial support zone for bulls to hold above.
July 18, 2017
- Gold 4 hour chart shows the starting of an up swing. This setup will remain effective till price stay above the cloud.
- Immediate resistance at 1239 levels. Above this price can target 1251 and 1262 levels respectively.
- Weakness if price starts to trade below 1226 levels.
- CRUDE OIL INSIDE AN ARC
July 17, 2017
July 16, 2017
- ES Daily chart shows price moving above 2450 resistance zone. Weakness for This bullish setup only if price starts to close below 2450 zone.
- Second chart shows the failure of Bears to keep price below 50 Day SMA. Those failed breakdowns led to bigger up moves in favour of bulls.
- 4 Hour chart shows immediate support levels 2450 and 2445 respectively for bulls.
- These two charts were shared on May 30. Month chart was shown with Bullish possibility and Hour chart was shown with and Ascending broadening wedge and Price held on to the resistance line before it starts to go down eventually. But the long entry at the Hourly support line worked well. Everything that happened in Hour chart may happen in Month time frame as well.
- This is the difficult part of trading When one expects a sudden reversal it takes its time. When traders expect sideways action it reverses suddenly. Secret is to be consistent with your setup and have stop loss. Sometimes one has to do Multiple entries. For example If you have a 25 point stop loss You should go for a 125 point successful trade. In that way the Good trade takes care of 5 Wrong trades. Sometimes when the trade really goes in you favour it can take care of even 10 Wrong trades. This According to me is the only way to be a successful trader in the long term. One has to build Good habits which is useful for you in the long term.
- Click the link to see the May 30 Post with Month and Hour charts .CLICK HERE;
July 6, 2017
- ES 4 Hour chart shows price near crucial support zone of 2415.
- Daily too has a rising 50 Day SMA as support. Break of these two levels may lead to bigger correction.
- Weekly shows negative divergence. This can either work well for bears with good correction or price may start to move sideways followed by an upper breakout. I am expecting a correction if price start to trade below 2400 levels Targeting 2315 levels.