The yearly low support breached. What the correlation between the major indices tells us Lackluster price action on the shorter time frames Yearly Support Breached The E-mini S&P 500 (ES) traded at the yearly low of $3,639 for the first time since June; prices actually breached the low before moving back upward and have been Read More…
Why trader psychology is the most underappreciated element in trading. Cultivating self-control and discipline. A Practical exercise to improve discipline. Psychological Trading Mastering the psychology of trading is one of the most challenging yet underappreciated elements of learning how to trade the markets, regardless of whether one trades part-time from home or trades professionally for Read More…
The hanging man from the previous analysis yielded over 767 points Re-cap on Bearish $70 medium-term target Short opportunities as CL rallies into the resistance zone 767 Points Profit The hanging man we analyzed here provided a 767-point move as CL fell swiftly below $81. The pattern has played out but is still intact and Read More…
Introduction to trading psychology Why trading is a mental game Trading psychology exercise to try Trading Psychology Everything we do in life becomes easier to do the more times we do it. It is no different in trading; however, this is only so on the technical side. Regarding trading psychology, our past losses, wins, potentials, Read More…
Medium Term Outlook on Weekly Chart looks bearish Fibonacci Fan & Retracements Show more downside potential Possible Scalping opportunities abound for the Bulls Medium Term Outlook The fact that YM has broken below the previous 2022 low, coupled with the Feds stance on interest rate policy, gives much power to the bear case. There is Read More…
A recap of last week’s analysis. Multi-year support broken to the downside after 2 years A look into the Fibonacci Fan Analysis Last Week’s Recap Two potential scenarios were given for GC in our analysis from last week. Scenario two has played out with the gold price finally breaking below the multi-year support, which has Read More…
NQ is only 200 points away from its yearly lows. The momentum indicator is firmly in the negative. Why it could be time to sit on our hands. Recap of last week’s analysis We pointed out the potential bearish target of $11,592.75, which was our 78% Fibonacci level. It was a clear target for bears, Read More…
The hanging man candlestick pattern is confirmed on the daily chart The target for Bears is below the $81 price level Accumulation Zone around $82 broken to the downside Hanging Man CandleStick Earlier in the week, we analyzed the potential formation of either a hammer or a hanging man candlestick confirmation. Looking at the daily Read More…
A look at the downward trend channel on the daily chart ES drops 2.7% in 1 hour after the Feds interest rate decision Vix reading is at 28 and sits within a range Recap In last week’s analysis of the ES Futures, we noted a possible bearish target of $3,750, which has been met. ES Read More…
1-2-3 Reversal call turns into a potential double bottom Major support zone holding since May 2020 Pennant chart pattern forming on 4 Hour chart Support Zone Reminder We need to go back to May 2020 to observe the major support zone, which has been tested six times in two years. The yellow metal is currently Read More…
