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Daily: We are in a 2 week TTR. The current setup is an ii bouncing off the 20 day EMA. But the bars are big, so you would be buying high in the TTR which lowers prob. We will likely test up here but may find sellers not too far above.
60 min: We are converging in a horizontal triangle. The coil looks to be about to BO to the upside. There will likely be sellers around prior highs for more TR PA.
Can you help answer these questions from other members on NexusFi?
ON: We channeled up and are gaping up on the open to resistance of a prior lower high from last week. We are also high in the TTR and may get sellers here.
Bars:
1 Bear doji right under resistance. Strong BO/gap up but we are high in the 2 week TTR and we opened with a TR bar.
2 Strong bull trend bar, but close right at another prior high/res.
3 Bear rev bar at res, but may have more up after strong bar 2. Micro gap above bar 1 is still open.
4 There were buyers below 3. Still gap open between 1 high and 4 low. We are just under ATH though and FT after strong bull bar so far has been bad. Lets see FT here.
5 Doji inside bar FT. Still bad FT after bull trend bars. Behaving like bull leg in TR. May have at least one more push up for wedge top.
6 Bull doji iii. Ok buy signal but doji's just under res of ATH. Unless get stronger BO, may get sellers coming in soon.
7 Here is our BO. Strong bull bar closing near high. Let's see FT.
8 Doji FT but still bull body. May still be OK for bulls.
9 Another ii buy signal. Poss buyers above for another push up.
10 H1 buy above but small bear doji SB. Prob at least one more push up.
11 Bad entry bar for H1 buy above 10. Now in 4 bar TTR.
12 Strong bull bar outside up but close at high of current TTR, not above.
13 Wedge with 4 and 8. Failed BO.
14 Buyers came in below 13. Still in TTR.
15 Bear inside bar after wedge top, but in TTR, may have buyers at 10 low for DB.
16 H2, bull iii, but middle of TTR.
17 DB with 10, but bear bar.
18 Bear BO attempt. May drift down to EMA, but no strong selling yet.
20 Weak entry bar for H2 buy above 19. Still in TTR since bar 8 with failed BO above and below. May get one more push down to EMA below.
24 Wedge with 15 and 19, just above EMA.
29 DT with 22, but TTR.
No trades taken today. Missed one trade I could have taken noted on the chart.
Daily: Price broke out above the recent TTR, but it is at upper trend channel line resistance (overbought). Sellers may come in here and try to turn the market down. Tuesday should give some info about the strength of the sellers here.
60 min: Monday broke out in a spike and channel bull trend that ended in a wedge top. We may test down to at least the channel low of 2,444.75 or the BO point of the prior ATH, 2443.50. Buyers may come in around there for another push up.
ON: Price went mostly SW in the range of Y's bull channel and pulled back to the exact channel low of 2444.75. We may bounce from here, but I expect TR PA since that is what we have in this area to the left.
Bars:
1 Bear bar but tail closing right at support.
2 Poss opening rev at support, but doji SB. Likely close small gap to Y's close, but may have lots of TR PA/LOM.
3 L1 short below 3, but bad SB right at support. So far has been LOM with SA and BB.
4 Bear BO but close right at prior ATH. Let's see FT.
5 Doji FT. Bad SB to buy above but not strong FT for bears either.
6 Bear FT back under prior ATH. Next target below is Y's low and 60 min EMA.
7 Bull rev bar, wedge with 1 and 4, but tight channel. May have SA needing a DB.
8 Strong entry bar for buy above wedge rev bar, but close right at res.
9 L1 short below at res, but doji and recent wedge rev attempt.
10 Bull BO but tail, just under EMA.
11 Bear inside bar. May have BB after strong 10. Room above to EMA and target of 4 high.
12 Strong bear entry bar for short below 11. Good for the bears.
13 2 bar rev, DB with 7. Poss OK buy above but just under the EMA and TTR.
14 Bear doji inside bar. Price is coiling in a TTR.
15 Bull entry bar but just below EMA. Price still coiling around prior ATH. No strong BO yet.
17 Bear rev bar, L2 short at EMA. Poss OK short but following strong 15 and 16 and TTR.
18 Weak selling below 17. May have buyers above for failed L2.
22 DB with 13 or 7. But bear doji in TTR just under EMA.
Got to go. No trades taken. Best trade would have been L2 short at EMA below bar 17, but I didn't like the bull bars and the TTR.
Daily: Yesterday price reversed in a failed BO of the recent TTR and prior ATH. Price is also reversing from the top of the trend channel line. Bears have the advantage now. We could get breakdown from here.
60 min: Yesterday price pulled back in 3 pushes. We may retest up to test the top of Y's bear channel and the prior ATH, 2443.50. If we break below Y's low, we could get a big sell off below the failed wedge bottom.
ON: We channeled down and had a climactic selloff which reversed up strongly in the European session to erase the PB and open back in Y's range. This BDBU may result in a SW open.
Bars:
1 Strong bear trend bar. BO PB short here. Risk of more SW after BDBU.
2 Bad FT below 1 adding weight to more of a SW open.
3 Second entry BO PB short below. Poss OK short below but just above Y's low.
5 Strong bear rev bar, but still TTR just above Y's low. Bears need some FT.
6 Still weak FT. Micro wedge with 2 and 4, but doji SB.
7 Coiling tighter. May get BO soon. Bulls having a hard time. Lots of tails on top, failing at EMA. Bears still have advantage.
8 First decent bull bar of the day, but close right below EMA.
9 2 bar rev, L2 at EMA, but tail at bottom of bar and TTR decreases prob..
10 Doji entry bar below 9 forming DB with 5. Day is still just a very TTR so far.
11 Bears are showing no FT. Bulls may take it up if no bear BO soon. Bar 11 is bull ioi, DB with 5. May get buyers above, but TTR just under EMA.
13 Bulls got their BO attempt after weak bar 12 selling. Tail on top weakens bar for bulls. The open is a target above.
15 Strong bull BO. Close right at Y's down trend channel line res. With Y's broad bear channel and today's early TR PA, I expect more of a broad bull channel than a strong spike here. That means big PB's and weak FT. Targets above are prior lower highs from yesterday, the prior ATH of 2443.50 and Y's channel high of 2445.50.
17 Bad FT from BO as I expected, but PB is weak so far. I am still thinking bull channel up.
18 Strong bear bar rev below bar 15. Not good for the bulls. BUBD and now back into the earlier TTR.
Got to go. No trades taken. Only somewhat reasonable trade I saw was buy above bar 11, but TTR just below EMA is not a set up I like to trade.
Daily: Yesterday was FT selling from Tuesday's reversal down, but it was not very strong with the buying tail at the bottom. We are just above the 20 day EMA and are in the middle of the 3 week TTR now so we get some buying and some bad downside FT here.
60 min: We sold off yesterday to the apex of the triangle in the center of the 3 week TTR and found buyers. We may get a test up here back to the top of the TTR.
ON: Price went SW forming a DT with Y's bar 65 and a DB with Y's low. Then it head back up to open near the range high again. We may chop here for a while and have another LOM open.
2 Strong bear trend bar but in the middle of Y's lower range and not far above Y's low.
3 Opening reversal. HL MTR, but tail on top and in TTR. May be buyers above.
4 There were buyers above but weak entry bar. DT with 1, second entry short below but bull bar. May try to test up to at least the open.
5 Tested open. Now BDBU. Testing down trend line that has been in play for a couple days. Also just under ON high.
6 DT with 1. Reversing off of down trend line and Just below ON high. But doji in middle of TTR.
7 Buyers came in at Y's bar 75 low area to create big bear doji rev bar. Still middle of TTR so probabilities not great.
9 DB with 7, bull rev bar, but middle of TTR.
10 DT with 6 at down trend line res. But doji in middle of TTR.
12 Price is coiling on the open here again and pressing up against the downtrend line. May pop here soon.
14 2 bar rev, DB with 3. OK buy above, but TTR lowers prob.
15 Strong bull entry bar on buy above 14.
Got to go early today. Wanted to take buy above 14 but didn't want to run out of time on the trade. Looks like it would have got a quick 4 point PT. Oh well...
Daily: We are back in the middle of the 3 week TTR so last Thu and Fri being doji bars is not surprising. We are also in a bull channel and pulling back to the 20 day EMA and we are seasonally bullish with the July 4th holiday coming up. This could give the bulls enough reason to retest the highs. We may get selling around daily res of 2443.50 or the ATH.
60 min: Last Fri formed a DB with last Wed and a DT with last Thu. If the market breaks out the top or bottom, we can get a MM.
ON: Strong rev up to BO of the DB. Upside MM target above is between 2449.25 and 2450.00. Also res at 2443.50. Also a gap fill target at around 2447.
Bars:
1 Strong bull bar after gap up but close right at res.
2 Bull body on FT and close above prior close is good, but big tail on top creating doji indicated sellers were coming in. Close above res is good for bulls but I did not buy because of selling tail. If it closed a little higher, I would have bought.
3 Strong bull BO. Sellers on 2 gave up. Targets not far above.
4 Strong bear rev bar. Prob BB to targets above.
5 H1 buy above to targets above. Poss OK buy. But may get selling soon at targets not far above.
6 Filled gap target. May get PB here or get further to MM targets above.
7 Sellers came in right at gap fill target for strong bear bar here. Lets see FT.
8 DB with 4 but doji. Look for bear BO or failed BO and bear trap for more up.
10 Bear BO but not big bar. May get some buyers at 2443.50 which was res, now poss support.
11 Bull rev bar at supp for BO PB buy above.
12 Good bull entry bar for buy above 11.
13 Bad FT for bulls. Looks to pull back to open and EMA.
14 Strong bear BO. OK STC, I sold.
17 Bull ii at support.
18 Hit 4 point PT. Rev bar bouncing off support level and 60 min EMA. But just above Y's close. May try to get there before bounce up.
20 Closed gap below. Bull rev bar at Y's close, 60 min EMA and ADR (average daily range) low. May get strong PB here or one more push down for wedge.
21 Strong entry bar for buy above 20.
23 Bull outside up bar. Targets above are 19 high, 18 high and EMA. Not far above. May get some sellers there.
24 Doji rev bar just below EMA for L2 short below but bull body and room to EMA.
25 Strong EB for L2 short below 24.
26 DB with 20 at support but doji and just below EMA. Also, buy above would be buying high in TTR.
27 Bull BO but right at reverse down trend line. Lets see if FT or sellers come in to close back below EMA.
28 Bad FT but still close above EMA. Weak selling for now, but wedge with 21 and 24.
29 Bear iii, looks like weak demand here. May rev down to test lows.
30 More bull FT but tail and testing downtrend line. Wedge with 24 and 27.
