TradersAmbition

TradersAmbition

The selling on SPY ended up exhausted at crucial fib levels marking the completion of an ABC move down which stops out all the weak hands and gets many traders short. We also came off oversold areas on the %R. If momentum continues with this move to the upside then we can take out previous highs. If we fail then watch out - the 200MA is not far away and would be...

TradersAmbition

EURUSD price action coiling up. Expect a breakout the more contracted this gets and beware the fakeout.

TradersAmbition

AAPL approaches it's 200 day SMA which in the past has been an area of support for this stock and doesn't stay near it for very long. Apple remains one of the best companies out there so it makes sense to stalk it as it enters this potentially reactive area.

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QQQ selling off on volume - partly contributed by lower than expected GOOG earnings and a sharp sell of in the individual stock.

TradersAmbition

One of the agricultural ETFs making new 20 day lows as the grains come off their highs.

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Here in London there has been a serious amount of spending going on due to the Olympics and Visa were an official partner meaning every single transaction went through them so it's no coincidence that the chart is decent too. Breaking out today with a new 20 day high on above average volume.

TradersAmbition

Coffee makes new 20 day high on good volume

TradersAmbition

AAPL looks to be in the process of creating a Darvas Box between the 648 and 683 area. With this in mind there should be a level support area between 644 & 657.25. After more time it may be able to take another run at new highs bearing in mind the iPhone 5 release is imminent. In the meantime, let price lead the way and check your trailing stops. Trend remains up.