Entries by Spencer Li

US Stock Indices | Dow Jones – Potential Double Top

After breaking the trendline, the Dow has had a deep correction, and is now heading to test the previous swing highs. If the resistance holds, it could form a potential double top. The price action is currently contained in a mild uptrend channel, which had a small breakout on Friday. If we see follow-through on […]

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US Stock Indices | S&P 500 – Rising Wedge

Making a great effort to rise, giving rise to a wedge-shaped pattern. Market could either aim to test the old high of 1415 before coming back down, or go straight down from here to test the previous low of 1267. For the former to occur, the market would have to take out the most recent […]

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Forex Trading | EUR/USD – Breakout to New Lows?

Breakout to new lows on the daily chart Expecting more opportunities to the downside Intraday wedge breakdown which coincided with news release… Stars in Alignment: Price, Pattern, Time An intraday double bottom near support after a long decline. A pullback after the double bottom provided another long opportunity. Let’s see if it can hit the […]

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Forex Trading | AUD/USD – Wedge Breakdown

Shorted on wedge breakdown, target at where the arrow is. Level is 1.0360. Spencer LiSpencer is an avid globetrotter who achieved financial freedom in his 20s, while trading & teaching across 70+ countries. As a former professional trader in private equity and proprietary funds, he has over 15 years of market experience, and has been […]

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Forex Trading | EUR/USD – Initiate Longs

Initiated longs in anticipation of inverted H&S breakout Took partial profits near neckline, and added longs after breakout Exited all positions on weakness Spencer LiSpencer is an avid globetrotter who achieved financial freedom in his 20s, while trading & teaching across 70+ countries. As a former professional trader in private equity and proprietary funds, he […]

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