Market Overview: Bitcoin Futures Bitcoin pullback finally became a reality after the price stalled at major support. Traders expect the price to reach $28800 during the upcoming months. Bitcoin futures The Weekly chart of Bitcoin futures Traders still think that the Bear Trend on the Weekly chart is contained within a Trading Range; therefore, the […]
FTSE 100 double top pullback testing prior breakout
Market Overview: FTSE 100 Futures The FTSE futures market was a double top pullback testing the prior breakout. We have been going sideways for many weeks now so it’s a tight trading range ready to break out either way. The longer we go sideways the less steam the bears might have to push down further. The […]
DAX 40 High 1 bear channel pullback
Market Overview: DAX 40 Futures DAX futures was a High 1 Bear Channel Pullback. It’s a major trend reversal on the daily timeframe but still always in short on the weekly. Confusion, sideways but probably more upside as we are struggling to get below the March lows. Both DAX and FTSE are looking stronger but […]
EURUSD pullback after breakout below March 4 low
The EURUSD Forex is trading sideways after breaking below March 4 low. It may continue to trade sideways for another week or two. If there is a breakout, odds slightly favor a downside breakout more. Bulls need to create consecutive big bull bars trading far above April 21 high to convince traders that a reversal higher may be underway.
Nifty 50 futures pullback (50%) & limit orders filled
Market Overview: Nifty 50 Futures The Nifty 50 futures pullback (50%) gave a indecisive close (i.e., Doji) for this week, and filled the buy limit orders present at the positive gap. Overall week was sideways with no major move. Nifty 50 gapped down on the open (i.e. Monday ~start of the week) and the close […]
Emini reversal up from Low 1 pullback
Trading Update: Thursday March 24, 2022 Emini pre-open market analysis Emini daily chart Emini reversal up from low 1 pullback with market finally getting a bear close yesterday after five consecutive bull closes. With yesterday triggering a low 1 (L1) short, odds are this L1 will lead to a 1-3 day pullback. The pullback might […]
Emini likely 1-3 day pullback following last week’s bull breakout
Trading Update: Tuesday March 22, 2022 Emini pre-open market analysis Emini daily chart Yesterday was a doji with a bull close. It was also the 5th consecutive bull bar, which significantly increased today’s odds of having a bear close. The odds are the market will have a 1-3 day pullback, and yesterday may be the […]
EURUSD in pullback from parabolic wedge on weekly and daily charts
EURUSD Forex: Weekend Market Analysis The EURUSD Forex is in a pullback from parabolic wedge sell-off testing the 700-pip measured move which started in October 2020. Traders are monitoring whether the bulls can create consecutive bull bars closing near their highs or the pullback is more sideways with weak bull bars. The leg down from February is […]
Emini weak pullback from parabolic wedge buy climax
Market Overview: Weekend Market Analysis SP500 Emini weak pullback phase on daily chart following a parabolic wedge buy climax at a trend channel line. Pullback from a parabolic wedge buy climax typically has at least a small 2nd sideways to down leg. The bulls want a test of the trend extreme. The EURUSD Forex is […]
Emini pullback possible from above top of 4-month bull channel
Weekend report co-author Andrew A. Market Overview: Weekend Market Analysis The SP500 Emini futures continue to make new highs. The daily chart should break above the top of the 4-month bull channel this week, but then an Emini pullback to the middle of the channel. The EURUSD Forex is reversing up from a double bottom […]