The above chart illustrates the performance of different asset classes in % change from Mar'20 low .
The list of included assets is as follows:
Copper
Gold
ES
Brent
DXY
For the futures markets, the Jun'21 contracts are used; for DXY, the ICEUS index is used.
As seen in the chart, the best performing commodity is copper, the rise in copper prices is...
This is reason for pullback in more diagram form. I am short from 3902. I took more large position because of potential and I stay in until I eather take half profit at 1st support or I get stop out. I won’t let this one go early.
I believing we have a good set up for a drop to 3820.
We having opening wedge.
We have heads and shoulders which has price now break below
We have strong bear divergence on several indicators.
Rsi also form heads and shoulders on 4h and down below neck line
We have stimulating factor of bad job report for first time in some time.
3820 is strong support and...
Well I’m doing to try another short right here on Es. I were stopped out early today but this being the very entry I take earlier. The same rule apply as earlier. But hidden bull is here, but I think it may passed by.
Below center regression
Fast hull sharp down
Slow hull go down
Below 3.5 ATR
So let’s,see if I win these time. Like saying before, careful ES...
If ES breaking below central regression channel (white solid line) then go short on retest of white line. Look at confirm indicators. Headed below ATR (green line) Rsi to break below 50. Be careful though because this is a line and could go long again. Only enter if 4h tf low is below center white line. Otherwise you do not enter. If shorting but turns to be...
So I enter gold again after stop out thi morning for nice money. Now I enter again because
Fast Hull cross down over slow hull.
gold pull back to resistant line make good entry point
rsi still making lower low with price
price below center regresssioin line
descended triangle which usually meaning reversal, but see price still at top of wedge so still...
The market really struggled to basically tread water with a slight loss today...
Listen for all the "melt up" chatter...and watch for the ending diagonal!
Here you see long trend resistantant since 2008, and up trend support since 2019 Dec. Also ascended triangle. And now recent gap fill which now act as resistant. I am going to add more short on retest of this resistant line. Here is my setup: second RR grid is my second entry.
I know gap not fill yet but I feel this is exhaustion gap. So even though I do not like to taking trade before gap this might be exception to rule. Look at volume on big candle after gap. This is good sign. Also indicators overbout, and though this can stay for a long time I think ready to drop.
ES formed a pennant, probably whipsaw today and an EOD pump as usual because it;s Friday.
No position while indicators are hung up in the middle. Probably gonna work on other crap today
