So, as stated in the video, the shorter term timeframes of 30m/1hr/2hr have opened up to lower movements, while the 3hr/4hr/6hr have been violated and would call for a movement back up, but haven't shown that potential movement yet. We are still in a short term Bullish Zone in accordance with my moving momentum algorithm, but we are very close to hitting below...
So trends that called for upward movement confirmed this upward movement last week. I had mentioned in my last video that the candlestick pattern for May 1st was extremely bullish, the following two days confirmed that movement in my opinion and given that trends called for upward movement, we crossed above the zero line on MACD Momentum into a bullish zone, and...
Momentum preceeds prices! The USDCAD has had a trend reset (Secondary Trend), which is key to the Up-trend continuation. The structural point for trend reversal is 1.3656, we want to see a second breakdown below the structure without breaking below 1.3624. A trade back above 1.3656 will be the first buy, confirmation will be a trade above 1.3671. In terms of...
**Sorry about the sound** Today, I'm looking at the Major Indices to determine the current state of play of the currency market and what we should expect for the remainder of the trading week. The current 4HR wave structure analysis of the Indices is as follows: DXY: +ve EXY: Neutral AXY: Neutral SXY: +ve JXY: +ve BXY: -ve CXY: -ve ZXY: -ve BUY PAIRS: No High...
USD/JPY The secondary trend on the USD/JPY has printed a trend-changing pattern after breaking above the pullback structure. This move gives us a piece of crucial information, that we can buy at the low after the current wave structure is complete. Currently, our high probability trade is selling now to buy later. GBP/USD The Cable is bearish because we have...
Trends are mostly in an upward movement stage, looking to remove the violation left of the 12hr / Daily lower high trend indicators. Trends into today are; Last Macro Trend Signal Spots (ES Contract) 30m - 5086 Uptrend (5/2/2024) Higher High 1Hr - 5117 Uptrend (5/1/2024) Higher High 2Hr - 5117 Uptrend (5/1/2024) Lower High 3Hr - 5157 Uptrend (5/3/2024) Higher...
The video explains it all a lot better, but basically, we are sitting with higher highs and lower lows on the trend timeframes that brought us here (30m-4hr), otherwise known as the Pac-Man symbol. Trends into today are; Last Macro Trend Signal Spots (ES Contract) 30m - 5083 Uptrend (4/25/2024) Higher High 1Hr - 5083 Uptrend (4/25/2024) Higher High 2Hr - 5131...
So again, I cashed out my trade just above 5000 as we fell last night following the Israel drone strike against Iran. Most of that dip appears to have resolved itself, at least for the moment, but those geopolitical issues will likely be crucial to the potential of a market fall in the coming days. I go into it in the video, but major Earnings are next week, and...
A quick Follow-up on the GBP/USD Long Trade. We have reversed the position at 1.2448 a test of the structure 2. Technically, the trend is still down and a failure to trade above the structure 2 makes the GBP/USD still bearish. The last Bullish wave 4 to 5 has given us a short setup using the Fibonacci. This is a high-probability setup for a strong reversal (short)...
Trends into today are; Last Macro Trend Signal Spots (ES Contract) 30m - 5111 Uptrend (4/17/2024) Lower High 1Hr - 5220 Downtrend (4/12/2024) Lower Low 2Hr - 5203 Downtrend (4/12/2024) Lower Low 3Hr - 5197 Downtrend (4/4/2024) Lower Low 4Hr - 5197 Downtrend (4/4/2024) Lower Low 6Hr - 5250 Downtrend (4/2/2024) Higher Low 12Hr - 5204 Downtrend (4/4/2024) Higher...
Today's focus: AUDJPY Pattern – Continuation Support – 98.90 & 98.35 Resistance – 100.20 & 100.60 Hi, traders; thanks for tuning in for today's update. Today, we are looking at the AUDJPY on the daily. We could have a new continuation forming as buyers have beaten yesterday's high backing in a second positive session. Australian employment data came in mixed...
Job data this morning caused a movement exactly as I anticipated and discussed yesterday. The move lower I suspected came yesterday as I anticipated, so now I'm just looking to see if we can move below this 5204 12hr support line. To date, the 12hr has been the major support level to stop any movement down since November which is why we have not seen a Daily trend...
Longer video but hopefully it clarifies my position in the market. I do NOT have a short position yet, but I am looking for one at this point. I might wait until either the close of the day depending on where we are OR take a short position if the overall day goes negative. Trends into today; Last Macro Trend Signal Spots (ES Contract) 30m - 5724 Uptrend...
At the start of last week, things didn’t look great for the bulls. There were several signs of weakness that could have easily led to a daily trend reversal. However, that didn’t materialize. Firstly, on Monday, buyers were able to set a daily higher low. Then, on Wednesday, they positioned the price very close to the previous two weeks' high. Finally, with the...
Today's focus: Gold Pattern – Price range Support – 2154 Resistance – 2187 Hi, traders; thanks for tuning in for today's update. Today, we are looking at Gold daily. What are we discussing and asking today after looking at Gold? Could a close above resistance be the move that starts a new continuation higher? If we see a break below support, this could be...
Today's focus: NDQ100 (Nasdaq) Pattern – Continuation (Bullish) Support – 17,804 Resistance – 18,047 Hi, traders; thanks for tuning in for today's update. Today, we are looking at NDX100 on the daily chart. Today, we are asking if the NDX100 index will contnue to move higher after putting up several key price action points. Have buyers set the tone for a new...
Overheated market trends showing a bull market is basically my findings. I have not held into positions, long or short, going into this last surge. I had a relatively promising month in January and decided I would just end it on that note. Trends into today are; Last Macro Trend Signal Spots (ES Contract) 30m - 4925 Downtrend (1/31/2024) Lower Low 1Hr - 4933...
So I chose to cash out my trade at 4760 for about $2250. Trends have a huge case to send us lower, especially if the 6hour keeps signaling lower. All the trends between 30m and 4hr are ALL in a lower low downtrend at the moment. The trends are as follows; Last Macro Trend Signal Spots (ES Contract) 30m - 4778 Downtrend (1/17/2024) Lower Low 1Hr - 4761 Downtrend...