Month: June 2016

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SPX hitting short term resistance

SPX hitting short term resistance

I detected a short term resistance on the SPX at current price based on my green down trending channel. I would be looking for bear signals to sell short here if it appears tonight. My favourite place to short the SPX is still the 2108-2110 area. However current trading condition has changed and the safest…

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SPX at important resistance level

SPX at important resistance level

Post Brexit moves coming up… SPX staged a recovery last night and managed to move roughly 16 points to the upside. Price action is currently playing out scenario A which I had previously mention as possible SPX move. For that article, please click here. Price action was a bit too fast for me to take…

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SPX hitting support

SPX hitting support

The SPX saw gap down last night and the sell momentum continued till it hit my WAWS support at 1996. At that area I witnessed minor price reluctance to continues down further. This morning I woke up to another price action which suggested what was witnessed earlier. Here are the three scenarios which would play…

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Pound..the aftermath!

Pound..the aftermath!

This morning we saw a gap down for the GBPUSD. A 260 pip gap down which saw selling pressure till now. An important level which I will continue to monitor if you had fail to sell last Friday is the low of Friday itself. The low is not support which current price action has to…

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Do not marry your trades

Do not marry your trades

Traders should not get married to their trades. The financial instrument does not know that you have just traded it. So do not expect it to move in the direction that you wish. People often get very close to the instrument which they traded and made a lot of profit from. The main reason why…

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