Market analysis, insights and trading ideas on various markets and products!
Memorable speech by Draghi 🙂
If you were using the daily chart, you would have the added conviction to short on new highs, since the daily chart is still bearish.
Spencer 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 featured on more than 20 occasions in the media.
This is the 4th attempt to breakout of the range/channel
From the chart, it actually looks like the price might be ready to tip over…
Let’s see tonight
Spencer 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 featured on more than 20 occasions in the media.
Nice example of a bear flag
Note the measured move after the flag breakout
Spencer 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 featured on more than 20 occasions in the media.
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 Monday, it is likely it will head to test the swing high, but if it falls back into the channel, we can expect it head down to test the swing low, as indicated by the arrow.
Spencer 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 featured on more than 20 occasions in the media.
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 swing high. Let’s see which plays out.
Spencer 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 featured on more than 20 occasions in the media.
